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MIRA INFORM REPORT
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Report No. : |
510799 |
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Report Date : |
25.05.2018 |
IDENTIFICATION DETAILS
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Name : |
TTI INC. |
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Registered Office : |
251 Little Falls Drive, Wilmington, Delaware |
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Country : |
United States |
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Financials (as on) : |
2017 [Summarized] |
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Date of Incorporation : |
1971 |
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Legal Form : |
Corporation |
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Line of Business : |
Subject Distributes Passive, Connector, Electromechanical, and
Discrete Components. |
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No. of Employees : |
3,400 |
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+ |
Low Risk |
Business dealings permissible with low 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: |
TTI INC. |
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Trade Names: |
TTI INC. |
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ID: |
2262048 |
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Date Created: |
1971 |
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Date Incorporated: |
5/3/1991 |
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Legal Address: |
251 Little Falls Drive, Wilmington, Delaware, USA |
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Operative Address: |
2441 Northeast Parkway, Fort Worth, TX 76106-1816 USA |
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Telephone:
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(817)
740-9000 |
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Fax: |
(817) 740-9898 |
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Legal Form: |
Corporation |
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Email: |
information@ttiinc.com |
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Registered in: |
DELAWARE |
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Website: |
www.ttiinc.com |
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Contact: |
Paul Andrews Jr – Chief Executive Officer |
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Staff: |
3,400 |
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Activity: |
SIC Code 5065, Electronic Parts and Equipment, NEC |
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Banks: |
BANK OF AMERICA |
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History: |
TTI, Inc. was founded in 1971 and is based in Fort Worth, Texas. It has
locations in North America, Europe, and Asia; and distribution centers in the
United States and internationally. |
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TTI, Inc. Key Developments TTI, Inc. Opens New 641,226 SF Headquarters Distribution Center in
Fort Worth, Texas Nov 16 17 TTI, Inc. Opens New 641,226 SF Headquarters Distribution Center in
Fort Worth, Texas. TTI, HellermannTyton Sign Wire, Cable Management Accessories
Distribution Agreement Aug 2 17 TTI, Inc. has signed a distribution agreement with HellermannTyton
that expands TTI's product offering to its valued customer base in North
America. TTI, Inc., Abracon LLC. Announces Distribution Partnership in Asia Jul 22 17 TTI, Inc. announced recently that the company has signed the
distribution agreement in Asia with Abracon, LLC. The Asia partnership is an
extension of TTI and Abracon's existing global distribution agreement which
was announced by both companies in April 2017. |
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Parent Company: |
TTI Inc operates a subsidiary of: Berkshire Hathaway 3555 Farnam Street, Omaha, NE 68131, USA |
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PRINCIPAL
ACTIVITY
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TTI, Inc. distributes passive, connector, electromechanical, and
discrete components. |
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Products/Services description: |
It provides resistors, capacitors, connectors, discretes, potentiometers,
trimmers, magnetic and circuit protection components, wires and cables, wire
management products, identification products, application tools,
electromechanical devices, and discrete semiconductors. The company offers
interconnect, passive, and electromechanical technology and market
information through the online MarketEye Research Center that includes
articles, technical seminars, restriction of the use of certain hazardous
substances, seminars, industry research reports, and more. |
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Brands: |
TTI |
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Sales are: |
Wholesale |
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Clients: |
Ficosa North America S.A. De C.V. Arconection S.A. De C.V. Denso Mexico S.A. De C.V. Grupo Gollet Electronics SA De Cv Texas Instruments De Mexico |
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Suppliers: |
NA |
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Operations area: |
National and International |
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The company exports to |
MEXICO |
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The subject employs |
3,400 employees |
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Payments: |
Regular |
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LOCATION
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Headquarters : |
2441 Northeast Parkway, Fort Worth, TX 76106-1816 USA |
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Comments on Address: |
2441 Northeast Pkwy This business is located at 2441 Northeast Pkwy, a commercial address
in Fort Worth, TX. The warehouse was last sold on January 01, 1995. Estimated Value The warehouse has an estimated value of $8.74 million, which places it
among the most valuable 10% of warehouses in the area. When the building was
last assessed in 2012, the assessment value was $8,659,766. Property Size With 271,466 sq ft of space, this building is one of the largest
warehouses in the 76106 zip code. The average warehouse in the area has
around 2,956 sq ft. |
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Branches: |
New Jersey Branch East Gate Corporate Center 307 Fellowship Road Suite 100 Mt. Laurel, NJ 08054-1233 USA Colorado Branch 9035 Wadsworth Pkwy Suite 1600 Westminster, CO 80021-4541 USA Los Angeles Branch 9121 Oakdale Ave Suite 200 Chatsworth, CA 91311-6548 Minnesota Branch 7825 Washington Avenue S Suite 800 Minneapolis, MN 55439-2441 |
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Related Companies: |
TTI Germany Ganghoferstr. 34 82216 Maisach-Gernlinden, Germany TTI Asia 3 Changi North Street 2 Logistech Building #04-01 Singapore 498827 TTI Israel 5 Gilboa St. Airport City Israel |
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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: |
TTI Inc operates a subsidiary of: Berkshire Hathaway 3555 Farnam Street, Omaha, NE 68131, USA |
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Management: |
Paul Andrews Jr – Chief Executive Officer Chris Goodman – Chief Financial Officer Don Akery – Senior Vice President of Global Business Operations Mike Morton – President of Global Sales |
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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 2017 |
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Sales |
4.178.000.000 |
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Cash flow |
Normal |
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LEGAL
FILINGS
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PATENTS |
No records were found. |
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GOVERNMENT CONTRACTS |
Government Contractor Name & Address: TTI, INC. 2441 NE PKWY FORT WORTH, TX 76106-1816 Number of Defense Contracts Awarded :
34 Dollar Amount of Defense Contracts Awarded: $238,771 Government Contractor Name & Address: TTI, INC. 5050 MARK IV PKWY FORT WORTH, TX 76106-2219 Number of Defense Contracts Awarded : 5,262 Dollar Amount of Defense Contracts Awarded: $29,661,555 |
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CASES |
TTI, Inc. et al v. Elna America Inc. et al Plaintiff: TTI, Inc. and Mouser Electronics, Inc. Defendant: Elna America Inc., Elna Co. Ltd., EPCOS AG, EPCOS Inc.,
FPCAP Electronics (Suzhou) Co., Ltd., Holy Stone Enterprise Co., Ltd., Holy
Stone Polytech Co., Ltd., Matsuo Electric Co., Ltd., Milestone Global
Technology, Inc. (d/b/a Holystone International), Nichicon (America)
Corporation, Nichicon Corporation, Nippon Chemi-con Corporation, Nissei
Electric Co. Ltd., Panasonic Corporation, Panasonic Corporation of North
America, Rubycon America Inc., Rubycon Corporation, Sanyo Electric Co., Ltd.,
Sanyo North America Corporation, Shinyei Capacitor Co., Ltd., Shinyei
Corporation of America, Inc., Shinyei Kaisha, Shinyei Technology Co., Ltd.,
Shizuki Electric Co., Ltd., Taitsu America, Inc., Taitsu Corporation, TDK
Corporation, TDK-EPC Corporation, TDK U.S.A. Corporation, Toshin Kogyo Co.,
Ltd., United Chemi-Con, Inc. and Vishay Polytech Co., Ltd. Case Number: 3:2018cv02389 Filed: April 20, 2018 Court: California Northern District Court Office: San Francisco Office County: San Francisco Presiding Judge: William Alsup Nature of Suit: Antitrust Cause of Action: 15:1 Jury Demanded By: Plaintiff United Services Automobile Association v. One World Technologies, Inc.
et al Plaintiff: United Services Automobile Association Defendant: One World Technologies, Inc. and TTI, Inc. Case Number: 3:2018cv00066 Filed: January 11, 2018 Court: Oregon District Court Office: Portland (3) Office Presiding Judge: Anna J. Brown Nature of Suit: Real Property Property Liability Cause of Action: 28:1441 Petition for Removal- Breach of Contract Jury Demanded By: Defendant PAGE v. TTI, INC. et al Plaintiff: ANGELO PAGE Defendant: TTI, INC., DIETRICK J. LATHROP, JOHN DOE 1-5 and ABC CORP.
1-5 Case Number: 2:2015cv05563 Filed: July 15, 2015 Court: New Jersey District Court Office: Newark Office County: Middlesex Referring Judge: Cathy L. Waldor Presiding Judge: William H. Walls Nature of Suit: Motor Vehicle Cause of Action: 28:1441 Jury Demanded By: Both Centeno v. TTI, Inc. et al Plaintiff: Aaron Centeno Defendant: TTI, Inc. and Peter Rudzitis Case Number: 1:2011cv08757 Filed: December 9, 2011 Court: Illinois Northern District Court Office: Chicago Office County: XX US, Outside the State of IL Presiding Judge: Charles R. Norgle Nature of Suit: Motor Vehicle Cause of Action: 28:1441 Jury Demanded By: Defendant |
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TRADEMARKS |
TTI DISTRIBUTORSHIP SERVICES IN THE FIELD OF PASSIVE ELECTRICAL CIRCUIT
COMPONENTS, PRIMARILY CAPACITORS, RESISTORS, AND POTENTIOMETERS… Owned by: TTI, INC. Serial Number: 73633967 TTI distributorship services in the field of passive electrical circuit
components, primarily capacitors, and resistors [, potentiometers… Owned by: TTI, INC. Serial Number: 78458051 |
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UCC |
No records were 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 1971 TTI Inc is an organization in the Electronic Parts and
Equipment Industry headquartered in Fort Worth, TX. The company has 3,400 regular employees and generates an estimated
$4.1 billion USD in annual revenue. It operates nationally and internationally, mainly exporting to
Mexico. 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 |
John |
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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 Chief Executive Officer. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 68.39 |
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1 |
INR 91.44 |
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Euro |
1 |
INR 80.14 |
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US Dollar |
1 |
INR 68.30 |
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.