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MIRA INFORM REPORT
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Report No. : |
507750 |
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Report Date : |
09.05.2018 |
IDENTIFICATION DETAILS
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Name : |
DRI RELAYS INC. |
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Formerly Known As : |
DEUTSCH RELAYS, INC. |
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Registered Office : |
251 Little Falls Drive, Wilmington, New Castle, De, 19808, USA |
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Country : |
United States |
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Financials (as on) : |
2016 [Summarized] |
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Date of Incorporation : |
1954 |
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Legal Form : |
Corporation |
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Line of Business : |
Subject engages in the design and manufacture of electro-mechanical
hermetically sealed relays, time delay devices, and mating sockets. |
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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 : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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 $59,500. 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 more than 50% 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, 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 former 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 FY 2018, the direct costs of the wars will
have totaled more than $1.9 trillion, according to US Government figures.
In March 2010, former President OBAMA signed into law the Patient Protection
and Affordable Care Act (ACA), 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 former 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%. The
Fed ended its purchases during the summer of 2014, after the unemployment rate
dropped to 6.2%, inflation stood at 1.7%, and public debt fell below 74% of
GDP. 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
continued low growth, the Fed opted to raise rates several times since then,
and in December 2017, the target rate stood at 1.5%.
In December 2017, Congress passed and President Donald TRUMP signed the
Tax Cuts and Jobs Act, which, among its various provisions, reduces the
corporate tax rate from 35% to 21%; lowers the individual tax rate for those
with the highest incomes from 39.6% to 37%, and by lesser percentages for those
at lower income levels; changes many deductions and credits used to calculate
taxable income; and eliminates in 2019 the penalty imposed on taxpayers who do
not obtain the minimum amount of health insurance required under the ACA. The
new taxes took effect on 1 January 2018; the tax cut for corporations are
permanent, but those for individuals are scheduled to expire after 2025. The
Joint Committee on Taxation (JCT) under the Congressional Budget Office
estimates that the new law will reduce tax revenues and increase the federal
deficit by about $1.45 trillion over the 2018-2027 period. This amount would
decline if economic growth were to exceed the JCT’s estimate.
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Source
: CIA |
STATUTORY
INFORMATION
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Legal Name: |
DRI RELAYS INC. |
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Trade Names: |
DRI RELAYS INC. |
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ID: |
2168422 |
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Date Created: |
1954 |
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Date Incorporated: |
8/3/1988 |
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Legal Address: |
251 Little Falls Drive, Wilmington, New Castle, De, 19808, USA |
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Operative Address: |
55 Engineers Road Hauppauge, NY 11788 United States |
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Telephone: |
631-342-1700 |
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Fax: |
631-342-9455 |
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Legal Form: |
Corporation |
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Email: |
- |
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Registered in: |
DELAWARE |
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Website: |
www.stpigroup.com/index.php?p=group&sp=dri-usa |
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Contact: |
Michel Nespoulous - Chairman and Chief Executive Officer |
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Staff: |
110 |
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Activity: |
SIC Code 3625, Relays and Industrial Controls |
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Banks: |
BANK OF AMERICA |
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History: |
The company was founded in 1954 and is headquartered in Hauppauge, New
York. It was formerly known as Deutsch Relays, Inc. and changed its name to
DRI Relays Inc. in March 2008. |
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Parent Company: |
As of January 16, 2008, DRI Relays Inc. operates as a subsidiary of:
Société Technique de Productions Industrielles SA. 58, Avenue Claude Vellefaux 17 Rue Vicq d'Azir Paris, 75010 France |
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PRINCIPAL
ACTIVITY
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DRI Relays Inc. engages in the design and manufacture of
electro-mechanical hermetically sealed relays, time delay devices, and mating
sockets. |
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Products/Services description: |
It offers latching and non latching relays, time delay relays, solid
state timers, and maintenance products. The company serves aerospace,
military/defense, marine, rail, industry, and space markets. It offers its
products through distributors in the United States and internationally. |
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Brands: |
DRI RELAYS |
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Sales are: |
Wholesale |
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Clients: |
Brainin De Mexico SA De Cv Bt Ensambles Mexico Sa de Cv |
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Suppliers: |
Dri India Relays Pvt Ltd |
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Operations area: |
National and International |
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The company imports from |
INDIA |
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The company exports to |
MEXICO |
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The subject employs |
110 employees |
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Payments: |
Regular |
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LOCATION
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Headquarters : |
55 Engineers Road Hauppauge, NY 11788 United States |
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Comments on Address: |
- |
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Branches: |
No other branches were found. |
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Related Companies: |
Dri India Relays Pvt Ltd NO 27 , 1 ST CROSS IIND PHASE, DODDANEKUNDI INDL AREA, BANGALORE
560048 INDIA |
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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: |
The company does not disclose information on shareholders. The
following information has been provided by private sources: 58, Avenue Claude Vellefaux 17 Rue Vicq d'Azir Paris, 75010 France |
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Management: |
Michel Nespoulous - Chairman and Chief Executive Officer Mr. Tom Sadusky – President Linda Connolly - OSHA Compliance Manager Matt Flis - FM Outsource Partner Diane Goerz - Vice President Emily Hill - Finance Executive |
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FINANCIAL
INFORMATION
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The company does not make its financial
statements public. The following information has been provided by private
sources: |
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USD 2016 |
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Sales |
23.000.000 |
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Cash flow |
Normal |
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LEGAL
FILINGS
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PATENTS |
No found. |
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GOVERNMENT CONTRACTS |
No records found. |
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CASES |
Edwards v. Pilatus Aircraft, Ltd. et al Plaintiff: Mark Edwards Defendant: Leach International and DRI Relays, Inc. Case Number: DE/1:15-cv-00321 Filed: June 3, 2015 Court: Judicial Panel on Multidistrict Litigation Nature of Suit: Other Edwards v. Pilatus Aircraft, Ltd. et al Plaintiff: Mark Edwards Defendant: Leach International and DRI Relays, Inc. Case Number: FLM/8:14-cv-01326 Filed: June 3, 2015 Court: Judicial Panel on Multidistrict Litigation Nature of Suit: Other Edwards v. Pilatus Aircraft, Ltd. et al Plaintiff: Mark Edwards Defendant: Leach International and DRI Relays, Inc. Case Number: 1:2015cv00321 Filed: April 22, 2015 Court: Delaware District Court Office: Wilmington Office County: XX US, Outside State Presiding Judge: Leonard P. Stark Nature of Suit: Airplane Product Liability Cause of Action: 28:1332 Jury Demanded By: Both Edwards v. Pilatus Aircraft, Ltd. et al Plaintiff: Mark Edwards Defendant: Pilatus Aircraft, Ltd., Pilatus Business Aircraft, Ltd.,
Honeywell International Inc., Pratt & Whitney Canada, Rosemount Aeorospace,
Inc., Leach International, DRI Relays, Inc., Glenair, Inc., Epps Air Service,
Inc. and Martin Aviation, Inc. Case Number: 8:2014cv01326 Filed: June 4, 2014 Court: Florida Middle District Court Office: Tampa Office County: XX US, Outside State Presiding Judge: Virginia M. Hernandez Covington Referring Judge: Mark A. Pizzo Nature of Suit: Airplane Product Liability Cause of Action: 28:1332 Jury Demanded By: Plaintiff |
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TRADEMARKS |
No records found. |
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RENEWAL HISTORY |
No records found. |
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UCC |
No records found. |
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OFAC Sanctions List Search |
The company is not listed in the OFAC list. |
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SUMMARY
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Founded in 1954, DRI Relays Inc. is an organization in the Relays and
Industrial Controls Industry headquartered in Haupaugge, NY. The company has 110 regular employees and generates an estimated $23.7
million USD in annual revenue. The company operates nationally and internationally, mainly importing
from India. It is ACTIVE in business with no negative records. |
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RISK
INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
Regular |
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CASH FLOW |
Normal |
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STATUS |
Active |
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INTERVIEW
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NAME |
Helen |
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POSITION |
Sales |
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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
and the name of the Contact. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 67.08 |
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1 |
INR 91.14 |
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Euro |
1 |
INR 80.00 |
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US Dollar |
1 |
INR 67.34 |
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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NIY |
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Report Prepared by
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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.