MIRA
INFORM REPORT
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Report Date : |
6th June 2006 |
IDENTIFICATION
DETAILS
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Name : |
ASSIA CHEMICAL INDUSTRIES LTD |
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Registered Office : |
2, Denmark Street, Petach Tikva – 49517, Israel |
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Country
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Israel |
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Date of Incorporation : |
1957 |
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Com. Reg. No.: |
51-016828-9 |
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Legal Form : |
Private Limited Liabilities Company |
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Line of Business : |
Manufacturers, Distributors & Exporters of Fine Chemicals for the Pharmaceutical Industry. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 1,200,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
NAME
ASSIA CHEMICAL INDUSTRIES LTD.
ADDRESS
2, DENMARK STREET,
PETACH TIKVA-49517, ISRAEL.
P.O.BOX 3190,
PETACH TIKVA-49127.
TELEPHONE : 03-9267338
FAX : 03-9267477
CAPTION ADDRESS SERVES AS SUBJECT'S
REGISTERED ADDRESS.
INTERNET SITE: www.tevapharm.com (OF GROUP)
SUMMARY
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YEAR STARTED |
1957 |
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CORPORATE FORM |
PRIVATE LIMITED LIABILITIES COMPANY |
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TOTAL STAFF |
180 |
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SALES TURNOVER |
US$ 30,000,000. |
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FINANCIAL CONDITION |
GOOD |
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OPERATING TREND |
STEADY |
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BUSINESS RELATIONS |
REGARDED AS GOOD FOR THEIR COMMITMENTS |
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PAYMENT |
REGULAR |
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COURT SENTENCE AGAINST GROUP'S C.E.O. OVERRULED FOLLOWING AN APPEAL. |
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CREDIT RISK |
LOW |
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CREDIT LIMIT |
OUR RECORDS DISCLOSE A MAXIMUM CREDIT AMOUNT OF US$ 1,200,000. |
LEGAL STATUS
PRIVATE LIMITED COMPANY INCORPORATED PER FILE NO. 51-016828-9 ON 14.08.1957.
SHAREHOLDERS
"TEVA PHARMACEUTICAL INDUSTRIES LTD." - (15,999,999 ORDINARY SHARES)
"SALOMON LEVIN & ELSTEIN LTD." - (1 ORDINARY SHARE)
THE PARENT COMPANY, "TEVA PHARMACEUTICAL INDUSTRIES LTD.", IS A PUBLIC LIMITED COMPANY, SHARES TRADED ON THE TEL AVIV AND NEW YORK STOCK EXCHANGES.
THE MINOR SHAREHOLDER, "SALOMON LEVIN & ELSTEIN LTD.", IS A SUBSIDIARY OF "TEVA PHARMACEUTICAL INDUSTRIES LTD.".
DIRECTORS
DAN SHMUEL ZISKIEND - CHAIRMAN, APPOINTED ON 13.11.1979
HAIM BENYAMINI, APPOINTED ON 15.02.1990
MERON MAN, APPOINTED ON 01.10.1990
MANAGEMENT
C.E.O: ISRAEL MAKOV
C.F.O.: DAN SHMUEL ZISKIEND, BORN 1944
H.R. MANAGER: HAIM BENYAMINI, BORN 1938
HISTORY
SUBJECT WAS REGISTERED UNDER THE TITLE "CHEMICALS EXPORT INDUSTRIES OF ASSA LTD." AND ON 06.02.1977 CHANGED TO PRESENT TITLE.
BUSINESS ACTIVITIES
PHARMACEUTICALS
S.I.C.: 28.34.0000
28.33.0110
MANUFACTURERS, DISTRIBUTORS & EXPORTERS OF FINE CHEMICALS FOR THE PHARMACEUTICAL INDUSTRY.
PREMISES
PRODUCTION AND BUSINESS ARE CONDUCTED FROM OFFICES AND PLANT PREMISES SITUATED AT CAPTION ADDRESS.
REPORTEDLY ("GLOBES", 03.01.2000), THE "TEVA" GROUP FROZE A PLANT TO ERECT 50,000 SQ. METER OFFICES AND LABORATORIES PREMISES TOGETHER WITH 190 RESIDENTIAL APARTMENTS ON ITS 5 ACRE PLOT AT CAPTION ADDRESS. THE "TEVA" GROUP IS NEGOTIATING ERECTING ITS HEAD OFFICES AT THE "ABIC" PREMISES IN SOUTH NETANYA AND IS CONTEMPLATING TRANSFERRING SUBJECT'S PLANT TO TO RAMAT HOVAV IN THE NEGEV REGION.
STAFF
180 EMPLOYEES
SHARE CAPITAL
AUTHORISED: NIS 50,000,000.00
COMPRISING: 50,000,000 ORDINARY SHARES @ NIS 1.00 EACH
ISSUED: 16,000,000 SHARES (NIS 16,000,000.-)
SHARE CAPITAL
INCREASED BY IL (ISRAELI LIRA, AN OLD CURRENCY IN FORCE AT THAT TIME)
30,000,000 ON 11.03.1978, BY (OLD) IS 2,500,000 ON 10.09.1981, BY (OLD) IS
7,500,000 ON 30.05.1983, BY NIS 1,985,000 ON 24.12.1991 AND BY NIS 48,000,000
ON 03.07.1995.
PUBLIC RECORD INFORMATION
20 CHARGES WERE FORMERLY REGISTERED AGAINST SUBJECT'S ASSETS AS COLLATERAL FOR LOANS FROM 25.07.1971 TO 24.05.1981 AND SUBSEQUENTLY REMOVED UNTIL 15.12.1990.
NO CURRENT RECORD OF PLEDGED ASSETS.
FINANCIAL INFORMATION
SUBJECT AS A PRIVATE COMPANY DOES NOT PUBLISH BALANCE SHEET OR RELATED INFORMATION.
THE PARENT COMPANY DOES NOT DISCLOSE FINANCIAL INFORMATION REGARDING SUBSIDIARIES INCLUDED IN ITS CONSOLIDATED BALANCE SHEET.
ANNUAL TURNOVER ESTIMATED AT US$ 30,000,000.
ANNUAL CONSOLIDATED
2004 TURNOVER OF "TEVA PHARMACEUTICAL INDUSTRIES LTD."
AMOUNTED TO US$ 5,058,808,000.
RECORDS
NOTHING DETRIMENTAL UNCOVERED.
FOR THE RECORD: MR. ELI HOROWITZ, C.E.O. OF THE "TEVA" GROUP, WAS CHARGED IN JUNE 1994 OF FICTITIOUSLY REPORTING OF HIGHER IMPORT EXPENSES RELATED TO "PROMEDICO LTD.". "MR. BENJAMIN YESSELSON WAS ALSO CHARGED IN THIS CASE. MR. BENJAMIN YESSELSON AND MR. ELI HOROWITZ WERE SENTENCED ON 14.01.1999 TO 18 MONTHS SUSPENDED IMPRISONMENT AND A FINE OF NIS 700,000 (THEN US$ 170,000) EACH. FOLLOWING AN APPEAL TO THE SUPREME COURT MR. BENJAMIN YESSELSON AND MR. ELI HOROWITZ WERE FOUND NOT-GUILTY AND THE SENTENCES WERE OVERRULED.
BANKERS
BANK HAPOALIM LTD., 1 DENMARK STREET, PETACH TIKVA (12-552)
BANK LEUMI LEISRAEL LTD., 19 HERZL STREET, TEL AVIV (10-800)
ISRAEL DISCOUNT BANK LTD., 27-31 YEHUDA HALEVI STREET, TEL AVIV (11-010)
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |