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MIRA INFORM REPORT
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Report No. : |
510977 |
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Report Date : |
26.05.2018 |
IDENTIFICATION DETAILS
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Name : |
GLOBAL PLASTICS, LP |
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Registered Office : |
850 New Burton Road Suite 201, Dover, Kent, DE, USA |
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Country : |
United States |
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Financials (as on) : |
2016 [Summarized] |
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Date of Incorporation : |
24.09.2012 |
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Legal Form : |
Limited Partnership |
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Line of Business : |
Subject is a company that serves the industries of Film Extrusion,
Injection Molding, Extrusion, Blow Molding,
Pipe Extrusion, Coating, Compounding, Export Resins and Extrusion Coating.
The company produces plastics and chemicals. |
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No. of Employees : |
46 |
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 $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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Address in the
order: |
21 Downing Street Front 1 New York 10014 USA This address corresponds to a branch location. |
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Legal Name: |
GLOBAL PLASTICS, LP |
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Trade Name: |
GLOBAL PLASTICS/ The Green Plastics Co. |
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ID: |
5217514 |
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Date Created: |
2012 |
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Date
Incorporated: |
9/24/2012 |
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Legal Address: |
850 New Burton Road Suite 201, Dover, Kent, DE, USA |
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Operative
Address: |
99 Middle Street, Manchester, NH 03101 USA |
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Telephone: |
800.417.4605 |
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Fax: |
800.431.8614 |
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Legal Form: |
Limited Partnership |
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Email: |
sales@globalplastics.net |
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Registered in: |
DELAWARE, USA |
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Website: |
www.globalplastics.net |
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Contact: |
Christopher Guimond, Managing Partner |
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Staff: |
46 Employees |
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Activity: |
SIC CODE: 2821 Plastic Materials, Synthetic Resins, and
Nonvulcanizable Elastomers NAICS CODE 325 Chemical Manufacturing 3261 Plastics Products |
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BANKS: |
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The company does not make its banking data public |
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HISTORY: |
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Global Plastics LP was created and incorporated in 2012 in Delaware,
United States. |
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PRINCIPAL
ACTIVITY
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Global Plastics LP is a company that serves the industries of Film
Extrusion, Injection Molding, Extrusion, Blow Molding, Pipe Extrusion, Coating, Compounding, Export
Resins and Extrusion Coating. The company produces plastics and chemicals. |
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Products/Services
description: |
Plastics Prime, Generic Prime and Off-Grade Resins Polyethylene Polypropylene Polystyrene Polycarbonate Polyethylene Terephthalate Polyolefin Plastomers Low Density Polyethylene High Density Polyethylene High Density Polyethylene Powder Medium Density Polyethylene Ethylene Vinyl Acetate Homopolymer Polypropylene Flake & Granular Homopolymer Polypropylene Copolymer Polypropylene Random Copolymer Polypropylene Polystyrene High Impact Polystyrene Polycarbonate Green Polymers Corn based & Sugar based products Recycled Materials PP – Polypropylene Regrind or PartsPS – Polystyrene Regrind or Parts PE – Polyethylene Film Scrap, Regrind or Rollstock Reprocessed Materials PPCO REPRO BLACK 10 melt 2 izodPPCO RERRO BLACK 20 melt 2 izod PPCO REPRO BLACK 20 melt 4.5 izod HIPS Repro 3 melt 2 izod black HIPS repro 8 melt 2 izod black LLDPE/LDPE 1-2 melt film grade black HDPE 6 melt .958 Dark Gray and Black Chemicals Ethyl hexanoic acid ethyl Hexanoic acid Acetone Acrylonitrile (ACN) Ammonium chloride Barium Carbonate Benzene Benzoic acid Borax Boric acid Calcium Chloride Capric acid (Decanoic acid) Caprioc Acid (Hexanoic acid) Caprolactam flake Caprylic acid Caustic soda flakes Caustic soda pearls Caustic soda solutions Cetyl / Stearyl achohol Cetyltrimethylammoniumc Crude glycerin Cyclohexane DCFA Dicyandiamide (DICY) Dicyclooentadiene (DCPD) Diethanolamine (DEA or DEOA) Diethylene glycol (DEG) Dioctyl phthalate (DOP) Epichlorohydrin (ECH) Epoxidized soybean oil (ESO) Ethane Ethyl acetate (EA or EtOAc) Ethylene Ethylene dichloride (EDC) Ethylene vinyl acetate (EVA) Formic acid Fuel oil Glacial acetic acid Glycerin Glycine HK 818 Hydrocerol? Indole butyric acid (IBA) Isopropyl alcohol Isopropyl myristate Isopropyl palmitate Lauric acid Lauryl – Myristyl Alchol (Fatty alcohol) Linear alkyl benzene sulphonic acid (LABSA) Magnesium sulphate Maleic Anyhdride MCT Melamine Methanol Monoethylene glycol (MEG) Methylene chloride (MEC) or Dichloromethane (DCM) Mixed xylenes Mystric acid or Tetradecanoic acid NBR Oleic acid Orthoxylene Oxyalic acid Palmitic acid or Hexadecanoic acid Paraxylene P-Dicholorobenzene solid Perchloroethylene Pertolatum jelly – white Phenol or Carbolic acid Phosphoric acid Phthalic anhydride Polyamide 6 Polyol Polyphosphoric acid Polyvinyl alcohol (PVA) 0588 Polyvinyl alcohol (PVA) 1788 Polyvinyl alcohol (PVA) 2488 Potassium carbonate Potassium hydroxide or Caustic potash Propylene glycol Purified terephthalic acid (PTA) Pyrolysis gasoline (PYGAS) Sodium benzoate Sodium hydrosulfite Sodium laureth sulfate (SLES) Sodium metabisulfite or Sodium pyrosulfite Sodium nitrate Sodium nitrite Sodium tripolyphosphate (STP) Stearic acid Styrene monomer (SM) Titanium dioxide Toluene (Nitration grade) Toluene Diisocyanate Trichloroethylene Trichloroisocyanuric acid Triethylene glycol (TEG)White oil light (Mineral oil) Hedging |
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Brands: |
StarResin The Green Plastics Company |
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Sales are: |
Wholesale |
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Clients: |
Colplast S.A.S. Prodipol y Cia. Ltda. PLASTICOS RIMAX S. A. S. Platicos Rimax Limitada Advanced Polymers Comercio Importacao E Exportacao Ltda. RIMOPLASTICAS S.A. |
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Suppliers: |
Sk Chemicals Co., Ltd. Lotte Chemical Corp. |
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Operations area:
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National and International |
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The company
imports from |
South Korea |
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The company
exports to |
Colombia, Brazil |
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The subject
employs |
46 Employees |
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Payments: |
Regular |
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LOCATION
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Headquarters : |
99 Middle Street, Manchester, NH 03101 USA |
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Comments: |
NA |
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Branches: |
Global Plastic LP New York 21 Downing St, Front 1, New York City, NY 10014 USA California Office Global Plastics LP 575 Anton Blvd, 3rd Floor Costa Mesa, California 92626 USA Phone: 714.432.6469 |
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Main Competitors |
NA |
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Related
Companies: |
Global Plastics Colombia SAS Cr. 15 #88-21 Oficina 302. Bogotá, Colombia Phone: +57.315.333.4344 Global Plastics Brazil Av. 7 de Setembro, 776 – sala 401- Fazenda Itajaí – SC – Brazil – 88.301-202 Phone: +55.47.3346.5267 |
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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. According
to our records, major holder is: Christopher Guimond |
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Management: |
Luis Enrique Rengifo, Sales Executive Christopher Guimond, Managing Partner Bob Matott, Senior Finance Executive Kevork Hagopian, Leader of International Market’s Expansion |
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FINANCIAL
INFORMATION
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The company does
not make its financial statements public. There are no financial figures
available for this company. |
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USD 2016 |
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Sales |
135 000 000 |
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CASH FLOW |
NORMAL |
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LEGAL
FILINGS
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Trademarks: |
THE GREEN PLASTICS COMPANY
procurement, namely, purchasing environmentally friendly polyethylene
resins, polypropylene resins and polystyrene resins… Owned by: Global
Plastics, LP Serial Number: 77845936 THE GREEN PLASTICS COMPANY
Procurement, namely, purchasing environmentally friendly bio-plastics,
starch based plastics, polylactic acid plastics. Owned by: Global
Plastics, LP Serial Number: 77884190 STARRESIN
Low gloss thermoplastic unprocessed resins in liquid form; unprocessed
acrylic resins; unprocessed artificial resins as… Owned by: Global
Plastics, LP Serial Number: 86420544 |
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Lawsuits: |
No records found |
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UCC: |
No records found |
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The company is not listed in the OFAC list. |
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SUMMARY
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Global Plastics LP is a company that serves the industries of Film
Extrusion, Injection Molding, Extrusion, Blow Molding, Pipe Extrusion,
Coating, Compounding, Export Resins and Extrusion Coating. It was created and incorporated in 2012 in Delaware, United States. It
currently employs a staff of 46. It mainly imports from South Korea and exports to Brazil and Colombia. It is ACTIVE in DELAWARE, USA; with no 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 |
NA |
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POSITION |
NA |
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COMMENTS |
We tried calling several times but always reached their voicemail. We left
a message in Wayne’s voicemail asking for information and asking him to
return our call. If he calls back, we will let you know. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 68.26 |
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1 |
INR 91.22 |
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Euro |
1 |
INR 79.88 |
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US Dollar |
1 |
INR 67.73 |
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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VIV |
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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
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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.