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MIRA INFORM REPORT
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Report No. : |
510333 |
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Report Date : |
23.05.2018 |
IDENTIFICATION DETAILS
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Name : |
TRANE U.S. INC. |
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Registered Office : |
251 Little Falls Drive, Wilmington, New Castle, De, 19808 |
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Country : |
United States |
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Financials (as on) : |
2016 (Summarized) |
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Date of Incorporation : |
26.03.1929 |
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Legal Form : |
Corporation |
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Line of Business : |
Manufactures And Markets Heating And Air Ventilation
Equipment. |
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No. of Employees : |
6,200 |
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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Order: |
TRANE (The name given in the order is the company´s old legal
name). |
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Address in the order: |
2701 WILMA RUDOLPH BLVD CLARKSVILLE TN 37043 |
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Legal Name: |
TRANE U.S. INC. |
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Trade Names: |
TRANE U.S. INC. |
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ID: |
255803 |
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Date Created: |
1929 |
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Date Incorporated: |
3/26/1929 |
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Legal Address: |
251 LITTLE FALLS DRIVE, WILMINGTON, NEW CASTLE, DE, 19808,
USA |
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Operative Address: |
800 BEATY ST STE E DAVIDSON, NC 28036-6924 USA |
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Telephone: |
608-787-2000 |
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Fax: |
608-787-2204 |
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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.trane.com |
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Contact: |
Donny Simmons - President of Trane Commercial North
America |
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Staff: |
6,200 |
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Activity: |
SIC Code 3585, Refrigeration and Heating Equipment |
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Banks: |
BANK OF AMERICA |
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History: |
The company was incorporated in 1929 and is based in
LaCrosse, Wisconsin. The company formerly known as American Standard Heating
& Air Conditioning and changed its name to Trane in December 2012. In
September 2017, it changed its name again to Trane U.S. Inc. |
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Parent Company: |
Trane U.S. Inc. operates as a subsidiary of: Ingersoll-Rand Plc. 170/175 Lakeview Drive Airside Business Park Swords, Ireland |
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Key Developments: |
Trane U.S. Inc. Wins $27.02 Million Task Order Oct 28 16 Trane U.S. Inc. was awarded a $27,020,400 task order by
the U.S. Naval Facilities Engineering and Expeditionary Warfare Center for
the design and installation of energy conservation measures at Naval Air
Station Oceana. The place of performance will be in Virginia Beach, Virginia. |
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PRINCIPAL
ACTIVITY
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Trane U.S. Inc. manufactures and markets heating and air
ventilation equipment. |
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Products/Services description: |
The company offers heating and air ventilation equipment. |
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Brands: |
TRANE |
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Sales are: |
Wholesale |
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Clients: |
Ingersoll Rand Ics Ac Ac R Ltd Ingersoll Rand Manufactura S. De R.L.
De C.V. Nueva Generacion Manufacturas Sa de
CV Home Depot Mexico Megafrio Sa |
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Suppliers: |
Gd Midea Heating & Ventilating Computime Limited Suzhou Samsung Electronics Co Ltd Maus Italia F. Agostino & C. S.A.S. |
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Operations area: |
National and International |
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The company imports from |
CHINA ITALY |
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The company exports to |
BRAZIL MEXICO ECUADOR |
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The subject employs |
6,200 employees |
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Payments: |
Regular |
LOCATION
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Headquarters : |
800 BEATY ST STE E DAVIDSON, NC 28036-6924 USA |
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Comments on Address: |
The address given in the order is a branch location. |
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Branches: |
The company has several branches. Some of them are:
2701 WILMA RUDOLPH BLVD CLARKSVILLE, TN, 37040-5846 United States Trane U.S. Inc. 10300 SPRINGFIELD PIKE CINCINNATI, OH, 45215-1118
United States Trane U.S. Inc. 19 CHAPIN RD # B PINE BROOK, NJ, 07058-9385
United States Trane U.S. Inc. 1030 LONDON DR BIRMINGHAM, AL, 35211-4542
United States |
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Related Companies: |
The company has several sister companies. Some of them
are: Trane, S.A. De C.V. Félix Guzmán No. 21 El Parque NAUCALPAN, ESTADO DE MEXICO,
53398 Mexico Trane Air Conditioning System (China) Co., Ltd. No.88, Suzhou (E) Rd. Taicang, Jiangsu, 215400 China Trane S.A. Route de la Belle-Croix 4 Romont FR, 1680
Switzerland TRANE CLIMATE MANUFACTURING SRL VIA DEI CICLAMINI 25 MODUGNO, BARI, 70026 Italy |
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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: Ingersoll-Rand Plc. 170/175 Lakeview Drive Airside Business Park Swords, Ireland |
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Management: |
Donny Simmons - President of Trane Commercial North
America Johnny Brown - Vice President/District General Manager Tim Sample - Vice President & General Manager Randy Katz - Vice President & General Manager Sue Benjamin - Manager Mike Gogola - Manager Steve Tardosky - Sales Business Development |
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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 |
13.000.000 |
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Cash flow |
Normal |
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LEGAL
FILINGS
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PATENTS |
Building energy management method and system Patent number: 8918220 Abstract: An energy management system within a building
obtains energy usage data over several cycles to determine a minimum feasible
load. The minimum feasible load corresponds to operational conditions of the
building, such as occupied or unoccupied. The energy usage data is binned
according to the operational condition under which it was obtained. A
threshold based on the minimum feasible load is used to monitor energy usage
within the building and to identify anomalies in energy demand for possible
action. Type: Grant Filed: August 5, 2010 Date of Patent: December 23, 2014 Assignee: Trane U.S. Inc. Inventors: Alberto Fonts Zaragoza, Frank Carl Altamura,
Jr., Mohan Ram Dattatreya, Himanshu Monty Joshi Building energy management method and system Patent number: 9383737 Abstract: An energy management system within a building
obtains energy usage data over several cycles to determine a minimum feasible
load. The minimum feasible load corresponds to operational conditions of the
building, such as occupied or unoccupied. The energy usage data is binned
according to the operational condition under which it was obtained. A
threshold based on the minimum feasible load is used to monitor energy usage
within the building and to identify anomalies in energy demand for possible
action. Type: Grant Filed: December 22, 2014 Date of Patent: July 5, 2016 Assignee: TRANE U.S. INC. Inventors: Alberto Fonts Zaragoza, Frank Carl Altamura,
Jr., Mohan Ram Dattatreya, Himanshu Monty Joshi Efficient storage of data allowing for multiple level
granularity retrieval Patent number: 9754012 Abstract: Data series are stored at multiple resolutions in
a computer-readable data storage medium. In particular, time series data
values of the data series are received with associated timestamps.
Corresponding storage elements in the computer-readable data storage medium
are identified based on the time stamps. Aggregate values are determined by
summing the time series data values. The time series data values stored in
the corresponding storage elements are replaced by the aggregate values.
Combined data values of the aggregate values are stored in storage elements
in the computer-readable storage medium at a first resolution and second
resolution, where the second resolution is half of the first resolution. Type: Grant Filed: November 10, 2014 Date of Patent: September 5, 2017 Assignee: TRANE U.S. INC. Inventors: Darrell Anderson, David Brock |
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GOVERNMENT CONTRACTS |
Government Contractor: TRANE U.S. INC. Name & Address: 109 W 55TH ST DAVENPORT, IA 52806-2244 Number of Defense Contracts Awarded :15 Dollar Amount of Defense Contracts Awarded: $4,024,898 Government Contractor: TRANE U.S. INC. Name & Address: 2677 BUFORD HWY NE ATLANTA, GA 30324-3239 Number of Defense Contracts Awarded : 34 Dollar Amount of Defense Contracts Awarded: $8,308,455 Government Contractor: TRANE U.S. INC. Name & Address: Number of Defense Contracts Awarded : Dollar Amount of Defense Contracts Awarded: Government Contractor: TRANE U.S. INC. Name & Address: 305 HUDIBURG CIR OKLAHOMA CITY, OK 73108-1008 Number of Defense Contracts Awarded : 34 Dollar Amount of Defense Contracts Awarded: $6,636,219 Government Contractor: TRANE U.S. INC. Name & Address: 3600 PAMMEL CREEK RD LA CROSSE, WI 54601-7511 Number of Defense Contracts Awarded : 675 Dollar Amount of Defense Contracts Awarded:$133,996,322 |
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CASES |
Arrindell v. Trane U.S., Inc et al Plaintiff: Audrey Arrindell Defendant: Trane U.S., Inc and Ingersoll Rand Trane Case Number: 2:2018cv02164 Filed: March 9, 2018 Court: Tennessee Western District Court Office: Memphis Office County: Shelby Presiding Judge: Thomas L. Parker Referring Judge: Tu M. Pham Nature of Suit: Employment Cause of Action: 42:2000 Jury Demanded By: Plaintiff International Union et al v. Trane U.S. Inc. Plaintiff: International Union, United Automobile, Aerospace
and Agricultural Implement Workers of America, AFL-CIO and UAW Local 716 Defendant: Trane U.S. Inc. Case Number: 2:2017cv02219 Filed: November 30, 2017 Court: Arkansas Western District Court Office: Fort Smith Office County: Sebastian Presiding Judge: P. K. Holmes Nature of Suit: Other Labor Litigation Cause of Action: 29:185 Jury Demanded By: None Mestas et al v. Air & Liquid Systems Corporation et al Plaintiff: Richard A. Mestas, Sr. and Lori Ann Muse Defendant: Air & Liquid Systems Corporation, Aurora
Pump Company, Borgwarner Morse Tec, LLC, Bryan Steam, LLC, Burnham, LLC, CBS
Corporation, Certainteed Corporation, Cleaver-Brooks, Inc., Crane Co., Crown
Cork & Seal Company, Inc., Flowserve Corporation, FMC Corporation,
Gardner Denver, Inc., General Electric Company, Genuine Parts Company,
Grinnell, LLC, Honeywell International, Inc., Ingersoll-Rand Company, ITT
Goulds Pumps, Inc., John Crane, Inc., Lamons Gasket Company, Metropolitan
Life Insurance Company, Natkin & Company, Peerless Boilers, Riley Power
Inc., Rite Engineering & Manufacturing Corporation, Superior Boiler
Works, Inc., Trane US, Inc., Union
Carbide Corporation, U.S. Engineering Company, Viking Pump, Inc., Warren
Pumps, LLC and Weil-McClain Case Number: 1:2018cv01006 Filed: April 27, 2018 Court: Colorado District Court Office: Denver Office County: Denver Presiding Judge: Nina Y. Wang Nature of Suit: Asbestos Personal Injury 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 |
Type Date 2017 Annual Report Due 04/01/2018 03/08/2018
2016 Annual Report Due 04/01/2017 03/26/2017 Registered Agent Change (by Entity) 05/12/2016 2015 Annual Report Due 04/01/2016 03/10/2016 2014 Annual Report Due 04/01/2015 03/19/2015 2013 Annual Report Due 04/01/2014 03/07/2014 2012 Annual Report Due 04/01/2013 03/20/2013 Assumed Name Renewal 09/17/2012 2011 Annual Report Due 04/01/2012 03/09/2012 2010 Annual Report Due 04/01/2011 03/22/2011 2009 Annual Report Due 04/01/2010 03/23/2010 |
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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 1929, Trane U.S. Inc. is an organization in the
Refrigeration and Heating Equipment Industry headquartered in Davidson, North
Carolina. The company has 6,200 regular employees and generates an
estimated $13 million USD in annual revenue. It operates nationally and internationally, mainly
importing from China and Italy. It is
ACTIVE in business with no negative records. |
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 |
Adam |
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POSITION |
Sales |
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COMMENTS |
He 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 President. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 68.02 |
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1 |
INR 91.25 |
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Euro |
1 |
INR 80.07 |
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USD |
1 |
INR 68.36 |
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 : |
KET |
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
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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.