|
|
|
MIRA
INFORM REPORT
|
Report No. : |
511183 |
|
Report Date : |
29.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
STEELCASE INC. |
|
|
|
|
Registered Office : |
30600 Telegraph Road, Bingham Farms, MI 48025, USA |
|
|
|
|
Country : |
United States |
|
|
|
|
Financials (as on) : |
23.02.2018 |
|
|
|
|
Date of Incorporation : |
16.03.1912 |
|
|
|
|
Legal Form : |
Corporation |
|
|
|
|
Line of Business : |
Subject is engaged in manufactures and sells integrated furniture
settings, user-centered technologies, and interior architectural products. |
|
|
|
|
No. of Employees : |
11,700 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A+ |
|
Credit Rating |
Explanation |
Rating Comments |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
United States |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
UNITED STATES - ECONOMIC OVERVIEW
The US has the most technologically powerful economy in the world, with a per capita GDP of $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.
|
Source
: CIA |
STATUTORY INFORMATION |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Legal Name: |
STEELCASE INC. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TradeName: |
Steelcase |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
ID: |
116452 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date Created: |
1912 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date Incorporated: |
March 16, 1912 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Legal Address: |
30600 Telegraph Road, Bingham Farms, MI 48025, USA |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Operative Address: |
901 44TH ST SE GRAND RAPIDS, MI, 49508-7594 United States |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Telephone: |
616-247-2710 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Fax: |
616-475-2012 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Legal Form: |
CORPORATION |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Email: |
info-me@steelcase.com |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Registered in: |
MICHIGAN |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Website: |
www.steelcase.com |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Contact: |
James P Keane – Chief Executive Officer and Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Staff: |
11,700 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Activity: |
SIC Code 2522, Office Furniture, Except Wood |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Banks: |
FINANCING AGREEMENTS -Second Amended and Restated Credit Agreement, dated
as of September 23, 2016 among Steelcase Inc. and JPMorgan Chase Bank, N.A.,
as Administrative Agent; Bank of America, N.A., and Wells Fargo Bank,
National Association as Co-Syndication Agents; HSBC Bank USA, National Association
as Documentation Agent; and certain other lenders (6). |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
History: |
Steelcase Inc.
was founded in 1912 and is headquartered in Grand Rapids, Michigan. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Key Developments: |
Steelcase Inc. Declares Quarterly Cash Dividend,
Payable on or Before April 13, 2018 Mar 20 18 Steelcase Inc. announced that the Board of Directors
has declared a quarterly cash dividend of $0.135 per share, to be paid on or
before April 13, 2018, to shareholders of record as of March 30, 2018. This
represents an increase of 0.75 cents per share compared to the third quarter. Steelcase Mulls Acquisitions Mar 20 18 Steelcase Inc. (NYSE:SCS) intends to pursue
acquisitions. "We also expect to see additional revenue growth from the
expansion of our portfolio of offerings through acquisitions and marketing
partnerships,” said Jim Keane, President and Chief Executive Officer of
Steelcase. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
PRINCIPAL ACTIVITY |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
Steelcase Inc. manufactures and sells integrated
furniture settings, user-centered technologies, and interior architectural
products. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Products/Services description: |
It operates through Americas, EMEA, and Other
Category segments. The company’s furniture portfolio includes panel-based
furniture systems, storage products, fixed and height-adjustable desks,
benches, and tables, as well as other products, including worktools. Its
seating products comprise ergonomic task chairs; seating for collaborative or
casual settings; and specialty seating for specific vertical markets, such as
healthcare and education. The company’s interior architectural products
include full and partial height walls and doors. It also provides textiles,
wall coverings, and surface imaging solutions for architects and designers;
and ceramic steel surfaces for use in various applications, including static whiteboards
and chalkboards through third party fabricators and distributors, as well as
workplace strategy consulting, data-driven space measurement, lease
origination, furniture and asset management, and hosted event services. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Brands: |
Steelcase, Coalesse, Turnstone, AMQ, Designtex, and
PolyVision. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Sales are: |
Wholesale |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Clients: |
Amex De Mexico SA Steelcase Jeraisy Ltd |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Suppliers: |
Zhejiang Hifine International Steelcase Reynosa, De R.L De C.V Enea Eredu S. Coop |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Operations area: |
National and International |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
The company imports from |
CHINA MEXICO SPAIN |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
The company exports to |
MEXICO SAUDI ARABIA |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
The subject employs |
11,700 employees |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Payments: |
Regular |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
LOCATION |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Headquarters : |
901 44TH ST SE GRAND RAPIDS, MI, 49508-7594 United States |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Branches: |
Steelcase WorkLife Center 4 Columbus Circle New York, NY 10019 United States Steelcase WorkLife Center 1545 Peachtree Street NE Suite 280 Atlanta, Georgia 30309 United States Steelcase WorkLife Center 1121 14th Street NW Suite 400 Washington, D.C. 20005 United States |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Subsidiaries: |
AF Steelcase S.A., a Spanish corporation PolyVision NV, a Belgian limited liability company PolyVision Corporation, a New York corporation Red Thread Spaces LLC, a Michigan limited liability
company Steelcase Czech Republic s.r.o. , a Czech Republic
limited liability company Steelcase de Mexico, S. de R.L. de C.V., a Federal
Republic of Mexico limited liability company Steelcase Firmengrundstuck, a German limited
liability company Steelcase Financial Services Inc., a Michigan
corporation Steelcase Manufacturing Sdn. Bhd., a Malaysian
corporation Steelcase S.A., a French corporation Steelcase Werndl AG, a German stock corporation |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
GROUP STRUCTURE AND SUBSIDIARY COMPANIES |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Listed at the stock exchange: |
Steelcase Inc. (SCS) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Market Capital: |
1.654B |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Outstanding Shares: |
86.26M |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Shareholders: |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Management: |
Mr. James P. Keane - President, Chief Executive
Officer & Director Mr. David C. Sylvester – Chief Financial Officer
& Sr. Vice President Mr. Robert G. Krestakos – Vice President of Global
Operations Ms. Sara E. Armbruster - Vice President, Strategy of Research & Digital Transformation Ms. Lizbeth S. O'Shaughnessy - Chief Admin. Officer,
Sr. VP, Gen. Counsel & Sec. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
FINANCIAL INFORMATION |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
We attach company’s last financial statements. Steelcase Inc. reported unaudited consolidated
earnings results for the fourth quarter and full year ended February 23,
2018. For the quarter, the company reported revenue of
$772.7 million compared to $769.1 million a year ago. Operating income was
$33.4 million compared to $50.4 million a year ago. Adjusted earnings per share were $0.24 compared to
$0.22 a year ago. Income before income tax expense was $44.7 million compared
to $50.1 million a year ago. The company generated $131.9 million of cash from
operations. Revenue grew modestly in the fourth quarter compared to the prior
year, but declined 2% on an organic basis after adjusting for favorable
currency translation effects and the impacts of an acquisition and
divestitures. For the full year, the company reported revenue of
$3,055.5 million compared to $3,032.4 million a year ago. Operating income
was $156.0 million compared to $200.2 million a year ago. Adjusted earnings
per share were $0.91 compared to $1.05 a year ago. Income before income tax
expense was $161.5 million compared to $196.3 million a year ago. Net income was $80.7 million compared to $124.6
million a year ago. Adjusted operating income was $156.0 million compared to
$205.3 million a year ago. Basic and diluted earnings per share were $0.68
compared to $1.03 a year ago. Net cash provided by operating activities was $227.0
million compared to $170.7 million a year ago. Capital expenditures were $87.9 million compared to
$61.1 million a year ago. Revenue in fiscal 2018 increased 1%, with a 14%
increase in the other category and a 4% increase in EMEA, offset by a 2%
decline in the Americas. On an organic basis, fiscal 2018 revenue was flat to
the prior year, driven by 13% growth in the other category and flat results
in EMEA, offset by a 2% decline in the Americas. The company expects first quarter fiscal 2019
revenue to be in the range of $740 to $765 million. Adjusted for an estimated $20 million of favorable
currency translation effects, and the impact of an acquisition and
divestitures, the projected revenue range translates to an expected organic
decline of 3% to organic growth of 1%.
The company expects to report diluted earnings per
share between $0.12 to $0.16 for the first quarter of fiscal 2019. The
estimates include lower gross margin compared to both the first and fourth
quarters of fiscal 2018 (due to increasing commodity costs and continuation
of some of the same drivers which negatively impacted gross margins in the
fourth quarter) and a similar level of operating expenses compared to the
fourth quarter of fiscal 2018. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
LEGAL FILINGS |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PATENTS |
CHAIR ASSEMBLY WITH UPHOLSTERY COVERING Publication number: 20140077548 Abstract: A chair assembly includes a back shell
member including a laterally-extending top portion, a laterally-extending
bottom portion and a pair of longitudinally-extending side portions extending
between the top portion and the bottom portion and cooperating therewith the
defined open space there between, and a cover having a first surface adapted
to support a seated user and a second surface opposite the first surface, wherein
the cover is positioned over the back shell member to cover at least a
portion of the open space, and wherein the cover comprises an elastomeric
material having a longitudinal direction compliance to lateral direction
compliance ration of at least 3:1. Type: Application Filed: March 15, 2013 Publication date: March 20, 2014 Applicant: STEELCASE INC. Inventor: Steelcase Inc. Seating unit Patent number: D660054 Type: Grant Filed: March 18, 2010 Date of Patent: May 22, 2012 Assignee: Steelcase Inc. Inventor: Brian Kane Ottoman Patent number: D664371 Type: Grant Filed: May 13, 2011 Date of Patent: July 31, 2012 Assignee: Steelcase Inc. Inventor: Scott Wilson Furniture leg Patent number: D666434 Type: Grant Filed: April 22, 2011 Date of Patent: September 4, 2012 Assignee: Steelcase Inc. Inventor: Cory Grosser Lounge chair Patent number: D674619 Type: Grant Filed: April 27, 2012 Date of Patent: January 22, 2013 Assignee: Steelcase Inc. Inventor: Patricia Urquiola Hidalgo |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
GOVERNMENT CONTRACTS |
Government Contractor Name & Address: STEELCASE INC. 901 44TH ST SE GRAND RAPIDS, MI 49508-7594 Number of Defense Contracts Awarded: 2,994 Dollar Amount of Defense Contracts Awarded: $328,844,109 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
CASES |
Steelcase Inc. v. Haskell Office LLC Plaintiff: Steelcase Inc. Defendant: Haskell Office LLC Case Number: 1:2017cv00182 Filed: February 27, 2017 Court: Michigan Western District Court Office: Southern Division (1) Office County: Kent Referring Judge: Ellen S. Carmody Presiding Judge: Janet T. Neff Nature of Suit: Patent Cause of Action: 35:271 Patent Infringement Jury Demanded By: Plaintiff BLOCKER v. CITIZENS BANK et al Plaintiff: KEVIN BLOCKER Defendant: CITIZENS BANK, CITIZENS FINANCIAL GROUP,
INC., CITIZENS BANK OF PENNSYLVANIA, CITIZENS BANK, N.A. and STEELCASE INC. Cross_claimant: STEELCASE INC. Cross_defendant: CITIZENS BANK, CITIZENS BANK OF
PENNSYLVANIA, CITIZENS BANK, N.A. and CITIZENS FINANCIAL GROUP, INC. Case Number: 2:2016cv05277 Filed: October 6, 2016 Court: Pennsylvania Eastern District Court Office: Philadelphia Office County: Outside the State of PA. Presiding Judge: EDUARDO C. ROBRENO Nature of Suit: Personal Injury- Product Liability Cause of Action: 28:1441 Jury Demanded By: Defendant OH v. J.B. Hunt Transport Inc. Steelcase Inc. et al Plaintiff: Wee Kwang OH Defendant: Lewis D. Alcala, J.B. Hunt Transport Inc.
and Steelcase Inc. Case Number: 1:2015cv06250 Filed: October 30, 2015 Court: New York Eastern District Court Office: Brooklyn Office Presiding Judge: Carol Bagley Amon Referring Judge: Robert M. Levy Nature of Suit: Motor Vehicle Cause of Action: 28:1441 Notice of Removal Jury Demanded By: None |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
TRADEMARKS |
CONTEXT MODULAR FURNITURE Owned by: STEELCASE INC. Serial Number: 73788444 STEELCASE PLASTIC LAMINATED SHEETS AND PANELS FOR USE IN THE
MANUFACTURE OF FURNITURE Owned by: STEELCASE INC. Serial Number: 75399611 COLLEGIUM furniture Owned by: STEELCASE INC. Serial Number: 74380114 DECORUM furniture Owned by: STEELCASE INC. Serial Number: 74380117 SENSOR SEATING Owned by: STEELCASE INC. Serial Number: 73796848 TURNSTONE furniture Owned by: STEELCASE INC. Serial Number: 74402151 PROTEGE office furniture Owned by: STEELCASE INC. Serial Number: 74318531 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
SUMMARY |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
Steelcase Inc. manufactures and sells integrated
furniture settings, user-centered technologies, and interior architectural
products. It operates
through Americas, EMEA, and Other Category segments. The company has 11,700 regular employees. It
operates nationally and internationally, mainly exporting to Mexico and Saudi
Arabia. The company shows positive profitability in its last
financial figures. For the fiscal 2019, the company expects to maintain
the level of increased investment in product development and marketing. The company expects to see additional revenue growth
from the expansion of the portfolio of offerings through acquisitions and
marketing partnerships. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
RISK INFORMATION |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DEBTS |
Controlled |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAYMENTS |
Regular |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
CASH FLOW |
Normal |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
STATUS |
Active |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
INTERVIEW |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.44 |
|
|
1 |
INR 89.88 |
|
Euro |
1 |
INR 79.00 |
|
US Dollar |
1 |
INR 67.86 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
DNS |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.