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MIRA INFORM REPORT
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Report No. : |
494102 |
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Report Date : |
01.03.2018 |
IDENTIFICATION DETAILS
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Name : |
TRICON ENERGY, INC. |
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Registered Office : |
1811 Bering Drive, Suite 420, Houston, TX
77057 |
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Country : |
United States |
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Financials (as on) : |
2016 [Summarized] |
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Date of Incorporation : |
30.04.1996 |
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Legal Form : |
Corporation |
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Line of Business : |
The company
offers chemical and plastics trading and distribution services |
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No. of Employees : |
110 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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United States |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
UNITED STATES - ECONOMIC OVERVIEW
The US has the most technologically powerful economy in the world, with
a per capita GDP of $57,300. US firms are at or near the forefront in technological
advances, especially in computers, pharmaceuticals, and medical, aerospace, and
military equipment; however, their advantage has narrowed since the end of
World War II. Based on a comparison of GDP measured at purchasing power parity
conversion rates, the US economy in 2014, having stood as the largest in the
world for more than a century, slipped into second place behind China, which
has more than tripled the US growth rate for each year of the past four
decades.
In the US, private individuals and business firms make most of the
decisions, and the federal and state governments buy needed goods and services
predominantly in the private marketplace. US business firms enjoy greater
flexibility than their counterparts in Western Europe and Japan in decisions to
expand capital plant, to lay off surplus workers, and to develop new products.
At the same time, businesses face higher barriers to enter their rivals' home
markets than foreign firms face entering US markets.
Long-term problems for the US include stagnation of wages for
lower-income families, inadequate investment in deteriorating infrastructure,
rapidly rising medical and pension costs of an aging population, energy
shortages, and sizable current account and budget deficits.
The onrush of technology has been a driving factor in the gradual
development of a "two-tier" labor market in which those at the bottom
lack the education and the professional/technical skills of those at the top
and, more and more, fail to get comparable pay raises, health insurance
coverage, and other benefits. But the globalization of trade, and especially
the rise of low-wage producers such as China, has put additional downward
pressure on wages and upward pressure on the return to capital. Since 1975,
practically all the gains in household income have gone to the top 20% of
households. Since 1996, dividends and capital gains have grown faster than
wages or any other category of after-tax income.
Imported oil accounts for nearly 55% of US consumption and oil has a
major impact on the overall health of the economy. Crude oil prices doubled
between 2001 and 2006, the year home prices peaked; higher gasoline prices ate
into consumers' budgets and many individuals fell behind in their mortgage
payments. Oil prices climbed another 50% between 2006 and 2008, and bank
foreclosures more than doubled in the same period. Besides dampening the
housing market, soaring oil prices caused a drop in the value of the dollar and
a deterioration in the US merchandise trade deficit, which peaked at $840
billion in 2008. Because the US economy is energy-intensive, falling oil prices
since 2013 have alleviated many of the problems the earlier increases had
created.
The sub-prime mortgage crisis, falling home prices, investment bank
failures, tight credit, and the global economic downturn pushed the US into a
recession by mid-2008. GDP contracted until the third quarter of 2009, making
this the deepest and longest downturn since the Great Depression. To help
stabilize financial markets, the US Congress established a $700 billion
Troubled Asset Relief Program (TARP) in October 2008. The government used some
of these funds to purchase equity in US banks and industrial corporations, much
of which had been returned to the government by early 2011. In January 2009,
Congress passed and President Barack OBAMA signed a bill providing an
additional $787 billion fiscal stimulus to be used over 10 years - two-thirds
on additional spending and one-third on tax cuts - to create jobs and to help
the economy recover. In 2010 and 2011, the federal budget deficit reached
nearly 9% of GDP. In 2012, the Federal Government reduced the growth of
spending and the deficit shrank to 7.6% of GDP. US revenues from taxes and
other sources are lower, as a percentage of GDP, than those of most other
countries.
Wars in Iraq and Afghanistan required major shifts in national resources
from civilian to military purposes and contributed to the growth of the budget
deficit and public debt. Through 2014, the direct costs of the wars totaled
more than $1.5 trillion, according to US Government figures.
In March 2010, President OBAMA signed into law the Patient Protection
and Affordable Care Act, a health insurance reform that was designed to extend
coverage to an additional 32 million Americans by 2016, through private health
insurance for the general population and Medicaid for the impoverished. Total
spending on healthcare - public plus private - rose from 9.0% of GDP in 1980 to
17.9% in 2010.
In July 2010, the president signed the DODD-FRANK Wall Street Reform and
Consumer Protection Act, a law designed to promote financial stability by
protecting consumers from financial abuses, ending taxpayer bailouts of
financial firms, dealing with troubled banks that are "too big to fail,"
and improving accountability and transparency in the financial system - in
particular, by requiring certain financial derivatives to be traded in markets
that are subject to government regulation and oversight.
In December 2012, the Federal Reserve Board (Fed) announced plans to
purchase $85 billion per month of mortgage-backed and Treasury securities in an
effort to hold down long-term interest rates, and to keep short-term rates near
zero until unemployment dropped below 6.5% or inflation rose above 2.5%. In late
2013, the Fed announced that it would begin scaling back long-term bond
purchases to $75 billion per month in January 2014 and further reduce them as
conditions warranted; the Fed ended the purchases during the summer of 2014. In
2014, the unemployment rate dropped to 6.2%, and continued to fall to 5.5% by
mid-2015, the lowest rate of joblessness since before the global recession
began; inflation stood at 1.7%, and public debt as a share of GDP continued to
decline, following several years of increases. In December 2015, the Fed raised
its target for the benchmark federal funds rate by 0.25%, the first increase
since the recession began. With US GDP growth below 2%, the Fed opted to raise
rates three times since then, and in mid-June 2017, the range for the target
rate stood at 1% to 1.25%.
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Source
: CIA |
STATUTORY INFORMATION
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Legal Name: |
TRICON ENERGY, INC. |
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Trade Name: |
TRICON |
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ID: |
17605021108 |
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Date Created: |
1996 |
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Date Incorporated: |
04/30/1996 |
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Legal Address: |
1811 Bering
Drive, Suite 420 |
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Operative Address: |
777 Post Oak
Blvd |
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Telephone: |
1-713-963-0066 |
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Fax: |
1-713-963-0066 |
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Legal Form: |
Corporation |
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Email: |
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Registered in: |
TEXAS |
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Website: |
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Contact: |
IGNACIO TORRAS |
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Staff: |
110 |
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Industry: |
Plastic Resin & Synthetic Fiber
Manufacturing Industry |
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Banks |
Chase Bank |
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The company does not disclose its banking
details |
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HISTORY
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The company was established in 1996 |
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Tricon Energy Inc. Key Developments Tricon Energy Inc. Presents at
Petrochemical Supply Chain & Export Logistics USA, Dec-12-2017 04:35 PM Dec 11 17 Tricon Energy Inc. Presents at
Petrochemical Supply Chain & Export Logistics USA, Dec-12-2017 04:35 PM.
Venue: Royal Sonesta Houston Galleria, 2222 West Loop S, Houston, Texas,
United States. Speakers: Ritesh Kothari, Director of Global Operations. Chimcomplex Submits Offer For Oltchim
Assets Jul 6 17 S.C. Chimcomplex S.A. (‘Chimcomplex’) said
on July 6, 2017 that it has submitted an offer to take over the assets of
Oltchim S.A. (BVB:OLT). Chimcomplex will be supported in this transaction by
Tricon Energy Inc. as a trading partner, five European banks co-ordinated by
ING Bank N.V., and two investment funds in London and Dubai. SCR Group, of
which Chimcomplex is a part, will become the direct guarantor of the
transaction with over €120 million, supported by four business partners - two
Romanian, one from Turkey and one from Italy. The biggest competitor to
Chimcomplex for Oltchim's assets is PCC SE, which currently owns 32.3% of
Oltchim. |
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PRINCIPAL ACTIVITY
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The company
offers chemical and plastics trading and distribution services |
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Products/Services description: |
Chemicals |
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Brands: |
TRICON |
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Sales are: |
Wholesale |
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Clients: |
Flexo Spring
S.A |
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Suppliers: |
NA |
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Operations area: |
International |
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The company exports to |
Colombia |
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The subject employs |
110 employees |
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Payments: |
No Complaints |
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LOCATION
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Headquarters : |
777 Post Oak
Blvd |
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Branches: |
The company has no branches in USA |
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Related Companies: |
The company has branches in Keny, Ghana, Morocco,
India, Vietnam, China, Korea, Hong Kong, Italy, France, Germany, Turkey,
Ukraine, Switzerland, Mexico, Colombia, Peru, Brasil, Argentina, Chile. |
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Competitors |
Daxx LLC |
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GROUP STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the stock exchange: |
NO |
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Capital: |
NA |
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Shareholders: |
This is a private company. Major holder is: |
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Management: |
VICE PRESI BRIAN
MORRIS 777 POST OAK BLVD, STE 550 HOUSTON, TX
77056 VICE PRESI BRYAN
ELWOOD 777 POST OAK BLVD, STE 550 HOUSTON, TX
77056 SECRETARY BRYAN
ELWOOD 777 POST OAK BLVD, STE 550 HOUSTON, TX
77056 PRESIDENT IGNACIO
TORRAS 777 POST OAK BLVD, STE 550 HOUSTON, TX
77056 TREASURER TANVIR
ALI 777 POST OAK BLVD, STE 550 HOUSTON, TX
77056 |
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FINANCIAL INFORMATION
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The company does
not public its financial statements. The following information has been
provided by our private sources: |
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USD 2016 |
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Sales |
180 700 000 |
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Cash Flow |
Normal |
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LEGAL FILINGS
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Legal Records |
Tricon Energy Ltd v. Vinmar International
Ltd, No. 4:2010cv05260 - Document 56 (S.D. Tex. 2012) Court Description: MEMORANDUM AND ORDER entered:
Tricon is entitled to postjudgment interest at the federal statutory rate. By
January 23, 2012, the parties must submit a proposed order confirming the
arbitral award and entering final judgment in this case.(Signed by Judge Lee
H Rosenthal) Parties notified.(leddins, ) |
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Trademarks |
TRICON ENERGY |
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SUMMARY
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Founded in 1996, Tricon Energy Inc. is a
mid-sized company in the other chemical manufacturers industry located in
Houston, TX. It has 110 full time employees and
generates an estimated $180 million in annual revenue. The company serves chemical and commodity
industries. It also operates in the international area exporting products to
Colombia. TRICON ENERGY INC is ACTIVE without
negative records |
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RISK INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
No Complaints |
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CASH FLOW |
Normal |
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STATUS |
ACTIVE |
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INTERVIEW |
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NAME |
Melina Reyes |
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POSITION |
Human Resources |
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COMMENTS |
Melina confirmed that the company's name in
USA is TRICON ENERGY INC, and there is only one office in USA. She confirmed number of employees,
management, website, branches, related companies and activity. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.10 |
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1 |
INR 90.45 |
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Euro |
1 |
INR 79.59 |
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US Dollar |
1 |
INR 65.27 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIS |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on secured
terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.