Attachment 1
ALBA ADESIVOS INDÚSTRIA E
COMÉRCIO LTDA
Attachment 1
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Report
Update On |
18th July, 2005 |
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Correct Name |
ALBA ADESIVOS INDÚSTRIA E COMÉRCIO LTDA |
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Registered Office |
Rua Benedito
Malzuquim, 730 – Campo de Boituva Zip Code/City: 18550-000 Boituva/SP, Brazil |
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Tel. No. |
15 3263-9100 |
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Fax No. |
15 3263-1407 |
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E-Mail |
-- |
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Website |
Attachment 2
SUMMARY
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Incorporated |
10.10.2000 |
Status |
Satisfactory |
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Registration No. |
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Chief Executive |
Luiz Augusto De Araujo Cintra |
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Capital (R$) |
1476907 |
Payments |
Usually Correct |
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Sales (R$) |
75319000 |
Litigation |
Clear |
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Net Worth
(R$) |
36996000 |
Banking Reputation |
-- |
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No. of Employees |
142 |
Auditors |
-- |
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SCORE |
Ba |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Normal |
This score serves
as a reference to assess SC’s credit risk and to set the amount of credit to be
extended. It is calculated from a composite of weighted scores obtained from
each of the major sections of this report. The assessed factors and their
relative weights (as indicated through %) are as follows:
Financial condition (40%) Ownership background (20%) Payment record (10%)
Credit history (10%) Market trend (10%) Operational
size (10%)
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Line of Business |
Manufacture of
chemicals |
name
ALBA
ADESIVOS INDÚSTRIA E COMÉRCIO LTDA
ADDRESSES
Main Address: Rua
Benedito Malzuquim, 730 – Campo de Boituva
Zip Code/City: 18550-000 Boituva/SP
Phone: 15
3263-9100
Fax: 15
3263-1407
E-mail: -
Web Site: www.albaadesivos.com.br
BRANCHES:
There is a branch
located in: COTIA/SP
LEGAL DATA
MAIN ACTIVITIES:
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Manufacture of
chemicals
LEGAL FORM LIMITED LIABILITY COMPANY
Incorporation Date: 10/10/2000
Register Date: 27/10/2000
Balance Sheet Filing Date: 31/12
Tax Contributor Number (CNPJ): 04.125.304/0001-36
State Register: 219.079.244.116
Share Capital: R$ 1.476.907,00
Last Register of Capital: Not available
BOARD OF DIRECTORS:
LUIZ AUGUSTO DE ARAUJO CINTRA President Director
ALFREDO JULIO DE VASCONCELLOS
DRUCKER Director
MILTON
JOSÉ DE FRANCA BARRETO Director
SÉRGIO KUCEKI FILHO Director
* The company was
requested the directors previous careers but despite of several reminders and
contacts so far no information was provided. Due to that reason it is believed
the company has no interest in disclosing such data.
AUTHORIZED USE OS SIGNATURE
The directors are
authorized to sign on behalf of the company.
SHAREHOLDERS /
PARTNERS:
R$:
BORDEN CHEMICAL HOLDINGS PANAMA S/A (Panama) 1.476.906,00
BORDEN CHEMICAL RESINAS PANAMA S. R.
L. (Panama) 1,00
AFFILIATES /
SUBSIDIARIES:
--------------------------
BORDEN QUÍMICA INDÚSTRIA E COMÉRCIO LTDA 100%
COMPANY’S BACKGROUND
The subject was
established on October 10, 2000 to be engaged in the said line of business and
up to date it is still operating within the general scene reported herein.
Alba Adesivos is part of Borden Chemical Inc., a worldwide
conglomerate present in 8 countries with 140 years of pioneering scientific
research. Alba Adesivos is a national leader in the production of adhesives for industrial,
professional and domestic use. Its factories, located in Boituva and Cotia - São
Paulo, develop solutions, with ISO 9001 certified quality and highest
specifications, in the bonding of materials, consolidating the trust and
satisfaction of customers, users, shareholders and collaborators
PARTNERS:
BORDEN CHEMICAL
HOLDINGS S/A (Panama): heaquartered at Plaza Bancomer Calle 50, Panama.
BORDEN CHEMICAL
RESINAS PANAMA S. R. L.: heaquaretered at Via Espana s/n, Torre BNC, Boston Piso 20 Panama.
Further details about
the subject’s history are so far not known.
When contacting the subject
we interviewed Ms. Ana, Fiscal Department, who declined to provide any kind of
information.
The data contained
herein were extracted from our database, outside sources and official records.
PUBLIC RECORDS
INFORMATION:
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No detrimental records
were found.
(Research date: June
3, 2005)
FINANCIAL INFORMATION
The subject is a
Limited Liability company, thus it is not obliged to publish the balance sheet
information. When interviewing sources at the subject company declined to
provide any kind of financial information.
Outside sources
contacted showed the following financial data about this company. No more
update or complete is available.
The financial data comprehend the subject non-consolidated figures with
domestic accounting proceedings. The balance sheets are not audited.
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GENERAL BALANCE SHEETS AS OF 31/12/2004, 31/12/2003 AND 31/12/2002. |
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( FIGURES ARE IN THOUSANDS OF REAIS ). |
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ASSETS |
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CURRENT: |
31/12/2004 |
31/12/2003 |
31/12/2002 |
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CASH AND BANKS |
340 |
252 |
196 |
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INVESTMENTS |
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5.516 |
2.714 |
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CLIENTS |
13.521 |
10.299 |
11.326 |
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INVENTORY |
6.823 |
5.573 |
9.767 |
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ADVANCES |
1.084 |
824 |
1.068 |
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OTHER |
5.226 |
4.223 |
5.225 |
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------------ |
------------ |
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TOTAL CURRENT ASSETS |
26.994 |
26.687 |
30.296 |
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LONG-TERM RECEIVALBES: |
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INTERCOMPANY CREDITS |
22.112 |
17.136 |
14.166 |
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OTHER CREDITS |
52 |
60 |
45 |
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TOTAL LONG-TERM RECEIVABLES |
22.164 |
17.196 |
14.211 |
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FIXED ASSETS: |
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INVESTMENTS |
16.807 |
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FIXED ASSETS |
5.021 |
5.556 |
6.115 |
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TOTAL FIXED ASSETS |
21.828 |
5.556 |
6.115 |
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============ |
============ |
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TOTAL ASSETS |
70.986 |
49.439 |
50.622 |
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LIABILITIES: |
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CURRENT: |
31/12/2004 |
31/12/2003 |
31/12/2002 |
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SUPPLIERS |
6.281 |
3.647 |
7.624 |
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LOANS AND FINANCING |
23 |
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2.280 |
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INCOME TAX |
6.711 |
3.988 |
5.965 |
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SALARY, TAXES & CONTRIB. |
2.461 |
1.791 |
1.481 |
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OTHER |
458 |
506 |
452 |
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TOTAL CURRENT LIABILITIES |
15.934 |
9.932 |
17.802 |
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LONG TERM LIABILITIES: |
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ACCOUNTS PAYABLE |
5.269 |
2.511 |
2.223 |
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TOTAL LONG TERM LIABILITIES |
5.269 |
2.511 |
2.223 |
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NET EQUITY: |
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SHARE CAPITAL |
1.477 |
1.477 |
1.477 |
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ACCRUED PROFIT |
48.306 |
35.519 |
29.120 |
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TOTAL NET EQUITY |
49.783 |
36.996 |
30.597 |
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============ |
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TOTAL LIABILITIES |
70.986 |
49.439 |
50.622 |
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PROFIT AND LOSS ACCOUNTS AS OF 31/12/2004, 31/12/2003 AND 31/12/2002. |
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( FIGURES ARE IN THOUSANDS OF REAIS ). |
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31/12/2004 |
31/12/2003 |
31/12/2002 |
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GROSS SALES |
85.738 |
75.319 |
80.409 |
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NET SALES |
85.738 |
75.319 |
80.409 |
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(-) COST OF SOLD GOODS |
51.075 |
46.868 |
47.105 |
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GROSS PROFIT |
34.663 |
28.451 |
33.304 |
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OPERATING REVENUE (EXPENSE) |
-18.494 |
-18.565 |
-15.077 |
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FINANCIAL REVENUE(EXPENSE) |
3.155 |
1.462 |
219 |
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OPERATIONAL PROFIT (LOSS) |
19.324 |
11.348 |
18.446 |
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NON-OPERATING RESULT |
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-5 |
4 |
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CONTRIBUTION/ICOME TAX |
-6.537 |
-3.593 |
-5.923 |
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NET PROFIT (LOSS) |
12.787 |
7.750 |
12.527 |
EXCHANGE RATE:
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US$ 1,00 = R$ 2,24 –
03/10/2005
US$ 1,00 = R$ 2,65 – 31/12/2004
US$ 1,00 = R$ 2,88 –
31/12/2003
US$ 1,00 = R$ 3,53 –
31/12/2002
COMMENTS ON THE
FINANCIAL INFORMATION:
----------------------------------------
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RATIOS: |
31/12/2004 |
31/12/2003 |
31/12/2002 |
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QUICK
RATIO |
1,27 |
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2,13 |
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1,15 |
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CURRENT
RATIO |
1,69 |
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2,69 |
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1,70 |
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ACCOUNTS
RECEIVABLE TURNOVER |
6,34 |
TIMES |
7,31 |
TIMES |
7,10 |
TIMES |
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DAYS'
SALES IN RECEIVABLES |
56,77 |
DAYS |
49,23 |
DAYS |
50,71 |
DAYS |
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INVENTORY
TURNOVER |
7,49 |
TIMES |
8,41 |
TIMES |
4,82 |
TIMES |
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ACCOUNTS
PAYABLE PERIOD |
44,27 |
DAYS |
28,01 |
DAYS |
58,27 |
DAYS |
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RETURN
ON ASSETS |
1,21 |
TIMES |
1,52 |
TIMES |
1,59 |
TIMES |
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SALES
TURNOVER ON NET EQUIY |
1,72 |
TIMES |
2,04 |
TIMES |
2,63 |
TIMES |
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NET
WORTH TIE-UP |
,10 |
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,15 |
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,20 |
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ENDEBTEDNESS |
,43 |
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,34 |
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,65 |
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EQUITY
RATIO |
70,13 |
% |
74,83 |
% |
60,44 |
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WORKING
CAPITAL RATIO |
69,41 |
% |
168,70 |
% |
70,18 |
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GENERAL
SOLVENCY |
3,35 |
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3,97 |
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2,53 |
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RETURN
ON NET EQUITY |
25,69 |
% |
20,95 |
% |
40,94 |
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RETURN
ON SALES (PROFIT MARGIN) |
14,91 |
% |
10,29 |
% |
15,58 |
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GROSS
PROFIT MARGIN |
40,43 |
% |
37,77 |
% |
41,42 |
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OPERATIONAL
RESULT |
22,54 |
% |
15,07 |
% |
22,94 |
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SALES
TURNOVER ON LIABILITIES |
5,38 |
TIMES |
7,58 |
TIMES |
4,52 |
TIMES |
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FOREIGN
CURRENCY ON ASSETS |
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FOREIGN
CURRENCY ON LIABILITIES |
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*REMARKS:
The financial data
provided by outside sources included no cash flow statement. When contacted the
company declined to provide all kind of information.
EXCHANGE RATE:
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US$ 1,00 = R$ 2,40 –
03/06/2005
US$ 1,00 = R$ 2,88 – 31/12/2003
US$ 1,00 = R$ 3,53 –
31/12/2002
US$ 1,00 = R$ 2,32 –
31/12/2001
COMMENTS ON THE
FINANCIAL INFORMATION:
--------------------------------------
Follows attached
worksheet with main financial ratios.
The figures available
show a good financial standing. It is note high liquidity ratios, low level of
indebtedness, as well as high sales volume and profitability.
So far no signs of
financial or operating problems are noted. The subject has a good financial
standing and both by its own financial strength and the support it has from its
parent group it is not likely to face financial problems.
REAL ESTATE:
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Owned premises are
valued at R$ 10.506.000,00
VEHICLES:
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Not available.
MACHINES:
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Not available.
INSURANCE
Not available
BANKING REFERENCES
BANCO BANESPA S/A AG: 0470
BANCO BRADESCO S/A AG: 2933
BANCO ITAÚ S/A AG: 0548
* Note: in Brazil the banks are prohibited by law to provide information or any
kind of comments about their clients. Due to this law prohibition we are unable
to provide any banking details.
According to the
CENTRAL BANK OF BRAZIL official report, the company has no returned checks up
to date. (in the terms of “Circular 1682 Brazilian Central Bank”). Date
researched: June 3, 2005.
ACTIVITIES COMMENTS
Manufacture of
chemical products, plastic goods, petrochemicals, adhesives and sealing.
IMPORT AND EXPORT:
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Not available
MAIN CLIENTS:
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PEIXOTO COMÉRCIO INDÚSTRIA
E SERVIÇOS DE DISTRIBUIÇÃO S/A
ARCOM S/A
MARTINS COMÉRCIO E
SERVIÇOS DE DISTRIBUIÇÃO S/A
OVD IMPORTADORA E
DISTRIBUIDORA LTDA
STAFF:
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142 employees.
CONCEPT AND FULFILMENT
The subject is a new but
well-established subsidiary of the Borden Group, from Germany. It operates with
an interesting scale of activities and a very good trade reputation.
So far it is noted a
clear trade history and no payment problems are registered.
The company has trade
relations with several suppliers in Brazil. The suppliers extend credit
facilities to the subject in terms and amounts according to the company's needs
and so far no payment problems are noted.
MAIN SUPPLIERS:
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PETROBRAS
DISTRIBUIDORA S/A
SCHENECTADY BRASIL
LTDA
ESCALA 7EDITORA
GRÁFICA LTDA
COGNIS BRASIL LTDA
CIA METALÚRGICA PRADA
RHODIA BRASIL LTDA
PAYMENT HISTORY:
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11 Suppliers reported
payments,
Total amount: R$ 257.905,00
Amount of invoices
paid : 54 invoices
Total of prompt
payments : 99,9%
Total of delayed
payments : 0,1%
Highest invoice :
R$ 57.952,00
Highest credit :
R$ 57.952,00
FINAL OPINION
The subject is a
well-established company in business for several years. Up to date it has a good
financial standing, a clear trade history and very good payment behavior.
Based on the general
information available it is believed that good trade relations may be
established. Credit facilities may be extended within terms and amounts
adequate to the company’s financial strength.
An initial credit
limit of USD 1.000.000,00 / 2.000.000,00 can be considered. Higher amounts can
be granted depending on the importance of the operations to be established with
the subject.
Attachment 3
ACKNOWLEDGEMENT
Dear Sir/Madam,
As part of our control
system, please fax/email us this note
upon receipt of this report. If we do not receive the acknowledgement within 24
hours, we will assume that our report meets your requirement. If you have any
suggestion to help us improve our reports and services, please do not hesitate
to let us know.
Thank you.
______________________________________________________________________________
To : MIRA INFORM PRIVATE
LIMITED
From :
To :
Feedback – Please tick
the appropriate box.
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FAIR |
POOR |
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Further Comments/Suggestion :
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Company’s Stamp &
Signature