MIRA INFORM REPORT

Report No. :	498325
Report Date :	21.03.2018

IDENTIFICATION DETAILS

Name :	AMPHENOL (MARYLAND), INC.
Registered Office :	Resident Agent: The Corporation Trust, Incorporated 2405 York Road , Suite 201, Lutherville Timonium MD 21093-2264
Country :	United States
Financials (as on) :	2016 [Summarized]
Date of Incorporation :	19.03.1971
Legal Form :	Corporation
Line of Business :	Subject Develops and Manufactures Vibration Monitoring Solutions.
No. of Employees :	85

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Good
Payment Behaviour :	Regular
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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
United States	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
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%.

Source : CIA

STATUTORY INFORMATION
Legal Name:	AMPHENOL (MARYLAND), INC.
Trade Names:	WILCOXON SENSING TECHNOLOGIES
ID:	D00337691
Date Created:	1971
Date Incorporated:	03/19/1971
Legal Address:	Resident Agent: The Corporation Trust, Incorporated 2405 York Road Suite 201 Lutherville Timonium MD 21093-2264
Operative Address:	20511 Seneca Meadows Pkwy Germantown MD 20876 USA
Telephone:	+1-301-330-8811
Fax:	+1-301-330-8873
Legal Form:	Corporation
Email:	info@wilcoxon.com
Registered in:	MARYLAND
Website:	www.wilcoxon.com
Contact:	Dr. Christopher McLean - President and General Manager
Staff:	85
Activity:	Control, Electromedical, Measuring & Navigational Instruments Manufacturing Industry
Banks:	BANK OF AMERICA
History:	Wilcoxon Sensing Technologies, formerly known as Wilcoxon Research, Inc. was founded in 1960 by former staff members of the David Taylor Naval Research Center but in March 2011 it was changed to Meggitt (Maryland), Inc. In June 16, 2017, Meggitt (Maryland), Inc. was bought by Amphenol Corporation. It changed its legal name to Amphenol (Maryland) Inc. and its trade name to Wilcoxon Sensing Technologies.
Parent Company:	As of June 16, 2017, Meggitt (Maryland), Inc. operates as a subsidiary of: Amphenol Corporation 358 Hall Avenue PO Box 5030 Wallingford, CT 06492 United States
PRINCIPAL ACTIVITY
	Amphenol (Maryland) Inc develops and manufactures vibration monitoring solutions.
Products/Services description:	It offers vibration sensors, hazardous area sensors, vibration switches, vibration transmitters, vibration reference sources, supportive instrumentations, cables, accessories, enclosures, and vibration monitoring product kits. The company also provides calibration, custom-design, product modification, quality approval, and repair services. It serves condition monitoring, wind power, pulp and paper, power generation, cement, food and beverage, metal processing, machine tool, mining, nuclear, oil and gas, pharmaceutical, rail, water and wastewater, and defense markets.
Brands:	WILCOXON
Sales are:	Wholesale
Clients:	Analisis Predictivos De Maquinaria Sa De Cv Universidad De Los Andes
Suppliers:	Sri Balaji Engineering Works Precision Engineered Products Inc.
Operations area:	National and International
The company imports from	INDIA TAIWAN
The company exports to	MEXICO COLOMBIA
The subject employs	85 employees
Payments:	Regular
LOCATION
Headquarters :	20511 SENECA MEADOWS PKWY GERMANTOWN MD 20876 USA
Comments on Address:	The office building has an estimated value of $28.2 million USD, which is slightly above average for office buildings in the area. When the building was last assessed in 2013, the assessment value was $27 million USD. With 108,094 square feet of space, this building is one of the largest office buildings in the 20876 zip code. The average office building in the area has around 2,956 square feet.
Branches:	No other branches were found.
Related Companies:	No related companies were found.
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders:	As of June 16, 2017, Meggitt (Maryland), Inc. operates as a subsidiary of: Amphenol Corporation 358 Hall Avenue PO Box 5030 Wallingford, CT 06492 United States
Management:	Dr. Christopher McLean - President and General Manager Nick Montana – Director Of Industrial Sales Tom LaRocque – Director of Marketing Renard Klubnik – Technical Support Manager Harry Robbins, III – Director of Operations
FINANCIAL INFORMATION
	The company does not make its financial statements public. The following information has been provided by private sources:
USD 2016
Revenue	22.300.000
Cash flow	Normal
	We attach parent company’s FS2017.
LEGAL FILINGS
PATENTS	Fast startup, micro power, low noise piezoelectric amplifier with extended low frequency response Patent number: 9269886 Abstract: A circuit combines the features of fast startup with low current, low frequency response, and low noise. With the use of a novel biasing technique, it is possible to operate the piezoelectric crystal at zero DC voltage bias, both throughout the startup phase and during normal operation, by setting both ends of the piezoelectric crystal to the same voltage potential. In this application, the potential is that of the reference voltage. Not having to charge the piezoelectric crystal capacitance reduces the startup time dramatically. Type: Grant Filed: October 18, 2013 Date of Patent: February 23, 2016 Assignee: Meggitt (Maryland) Inc. Inventors: Christopher E. McLean, Lei Hsu
GOVERNMENT CONTRACTS	Government Contractor: MEGGITT (MARYLAND), INC. Name & Address: 20511 SENECA MEADOWS PKWY GERMANTOWN, MD 20876-7007 Number of Defense Contracts Awarded : 181 Dollar Amount of Defense Contracts Awarded: $24,128,621
CASES	No records found.
TRADEMARKS	ENVIROPRENE INSULATED ELECTRICAL WIRES AND CABLES Owned by: MEGGITT (MARYLAND), INC. Serial Number: 75562340 ZERKOMETER Vibration accelerometer with a zerk adaptor Owned by: MEGGITT (MARYLAND), INC. Serial Number: 75840384 PIEZOFET ELECTRONIC AMPLIFIER CIRCUIT Owned by: MEGGITT (MARYLAND), INC. Serial Number: 76232271 VIBRALINK electric vibration sensors used to monitor vibration in industrial machinery and parts therefor; power cables and electric… Owned by: MEGGITT (MARYLAND), INC. Serial Number: 76324079 WILCOXON RESEARCH Vibration instrumentation and accessories, namely, accelerometers, sensors, alarms, transmitters, electrical cables, cable… Owned by: MEGGITT (MARYLAND), INC. Serial Number: 85323105 MACHINERYMATE Handheld vibration meter for obtaining vibration and bearings readings from industrial machinery Owned by: Meggitt (Maryland), Inc. Serial Number: 86151414
RENEWAL HISTORY	RESIDENT AGENT CHANGE OF ADDRESS 6/19/2017 8:30:00 AM ARTICLES OF AMENDMENT / NAME CHANGE 6/16/2017 4:01:00 PM RESOLUTION 4/19/2011 8:30:00 AM ARTICLES OF AMENDMENT / NAME CHANGE 3/31/2011 8:30:00 AM RESIDENT AGENT CHANGE OF ADDRESS 12/1/2009 2:43:00 PM ARTICLES OF AMENDMENT 2/24/2006 10:25:00 AM B00923 0620 ARTICLES OF AMENDMENT AND RESTATEMENT 8/22/2000 3:35:00 PM B00175 0917 ARTICLES OF AMENDMENT 6/23/2000 3:24:00 PM B00158 0617 CHANGE OF R.A.A. 11/17/1997 8:30:00 AM F3998 93 CHANGE OF R.A., R.A.A., P.O. 3/5/1987 10:23:00 AM F2897 314
UCC	No records found.
OFAC Sanctions List Search	The company is not listed in the OFAC list.
SUMMARY
	Founded in 1975, Maryland Meggitt Inc is a mid-sized organization in the measuring and controlling device manufacturers industry located in Germantown, MD. It has 85 full time employees and generates an estimated $22 million in annual revenue. The company mainly imports from India and Taiwan. It operates nationally and internationally. It is ACTIVE in business with no negative records.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	Regular
CASH FLOW	Normal
STATUS	REVIVED
INTERVIEW
NAME	Jane
POSITION	Assistant
COMMENTS	She confirmed the name of the company, the address of the headquarters and location, the date of creation of the company, the number of employees, the name of the parent company and history.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.20
UK Pound	1	INR 91.49
Euro	1	INR 80.46
US Dollar	1	INR 65.23

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	NIS
Report Prepared by :	TPT

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
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)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.