MIRA
INFORM REPORT
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Report Date : |
27th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
BCT CHEMTRADE CORPORATION |
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Registered Office : |
Grienbachstrasse 17 6300 Zug/ZG Switzerland |
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Country : |
Switzerland |
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Date of Incorporation : |
11-01-1988 |
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Legal Form : |
Joint stock company |
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Line of Business : |
Wholesalers Pulp and industrial chemicals |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
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Detail assessment: |
Payments: |
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The financial affairs are considered to be in order. |
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Individual credit limit*: |
EUR
60.000.-- |
Name
BCT Chemtrade Corporation
Line of Business
Rohstoffe und Chemikalien
Legal domicile
Grienbachstrasse 17
6300 Zug/ZG
Switzerland
Telephone: 041 7683700
Fax: 041
7683747
Homepage: www.chemtradelogistics.com
CREDIT ADVICE
Credit opinion: A maximum credit of EUR
60.000 is considered in order.
This credit advice is based on information
available at the time of conducting the research, being the above indicated
date.
All amounts in this report are given in
Swiss Francs (CHF) unless otherwise stated.
GENERAL COMPANY DATA
OFFICIAL DATA:
Legal form: Joint stock company
First Publication: 11-01-1988
Last Publication: 25-02-2005
Share capital: 500.000
Paid up: 500.000
Divided into: 500 Bearer shares of 1.000
History: 26-09-2003 500.000 Capital decrease
5.500.000 Previous capital
Shareholders:
Direct Parent com.: Chemtrade Logistics Inc., Toronto,
Canada/CA with a share of 100% since 2001.
Company Management: Ernst
Kohler
Registered name 27-11-1997 BCT Chemtrade Corporation
Previous Boliden
Chemikalien
Handelsgesellschaft
ACTIVITY:
Line of business: Pulp
and industrial chemicals
Sector: Wholesale
Activity:
The company is involved in the
international trading of pulp and industrial chemicals, especially sulphur acid
and liquid sulphur dioxide.
The chemicals are traded exclusively
outside Switzerland.
Trading area: International
EMPLOYEES:
Number of employees: 17
PAYMENT AND FINANCIAL DATA
PAYMENT EXPERIENCES:
Legal actions: No legal actions,
distraints or loss certificates registered.
Report from 06-04-2004, in 6301 Zug.
A current check of the legal actions
requires a document of justification with a legitimate signature.
There are no recorded complaints on the
business conduct of the company and current liabilities are settled in an
orderly manner.
FINANCIAL DATA:
Financial position: The financial affairs are considered to be
in order.
Financial Statements: The company does not
disclose any financial statements.
Consolidated
key figures (in USD 1.000):
Chemtrade
Logistics Gruppe
31.12.2005 31.12.2004
31.12.2003 31.12.2002
12
Months 12 Months 12 Months
12 Months
Sales 425'416.0 346'354.0
290'610.0 207'044.0
Operating
Profit/Loss 10'648.0 16'218.0 18'965.0 13'687.0
Depreciation 35'855.0 29'207.0 22'312.0 11'272.0
Profit/Loss 13'217.0 16'392.0 14'610.0 12'689.0
Cash-Flow 47'640.0 48'157.0 40'364.0 23'580.0
Investments 6'097.0 3'432.0 2'870.0 1'031.0
Shareholder
funds 293'063.0 189'570.0
237'237.0 190'045.0
Balance
sheet total 595'455.0 356'859.0
383'593.0 294'396.0
Banker(-s): Credit Suisse (CS), 8000 Zuerich
Auditors: KPMG
Fides Peat, Zug
Premises: The premises at the above mentioned address are rented.
Real estate property: No real estate is
owned.
The group owns numerous properties. The
acquisition value of the property, plant and equipment amounts to (in US$, at
31.12.):
2005:
260.788.000.--
2004:
165.306.000.--
2003:
172.815.000.--
2002:
153.160.000.--
COMPANY AND PERSON RELATIONS
COMPANY CONNECTIONS:
Direct Parent com.: Chemtrade Logistics Inc., Toronto,
Canada/CA with a share of 100% since 2001.
The shares of Chemtrade Logistics are
listed on the Toronto Stock Exchange.
Chemtrade Logistics operates diversified
businesses that provide industrial chemicals and services to customers in North
America and around the world.
Direct Investments:
BCT Chemtrade Limitada, Santiago, Chile/CL
(99.0%).
Chemtrade Storage Netherland, Rotterdam,
Netherlands/NL (100.0%).
BOARD OF DIRECTORS:
Dr. Georg Stucky, from Konolfingen, in
Baar/ZG/Switzerland,
President, collective signature.
Mark Davis, from Canada, in
Toronto/Canada,
Member, collective signature.
Ernst Kohler, from Urdorf, Wynigen, in
Pfaeffikon/SZ/Switzerland,
Member, General Manager, collective
signature.
MANAGEMENT:
Beat Boegli, from Seeberg, in
Walchwil/ZG/Switzerland,
Director, collective signature.
Sybille de Vet-Bieri, from Luzern, in
Walchwil/ZG/Switzerland,
Authorised signatory, collective signing
authority.
Werner Gruenig, from Burgistein, in
Cham/ZG/Switzerland,
Authorised signatory, collective signing
authority.
Peter Kohler, from Urdorf, in
Wollerau/SZ/Switzerland,
Authorised signatory, collective signing
authority.
Martin Loeliger, from Muenchenstein, in
Baar/ZG/Switzerland,
Authorised signatory, collective signing
authority.
Giovanni Olivieri, from Menzingen, in
Huenenberg/ZG/Switzerland,
Authorised signatory, collective signing
authority.
Jan van Saaze, from Netherlands, in
Zug/ZG/Switzerland,
Authorised signatory, collective signing
authority.
PERSONNEL INFORMATION:
Georg Stucky is married to Elisabeth nee
Leuenberger. The couple lives at the address Aberenterrasse 2 in 6340 Baar.
Georg Stucky is a Right Attorney by profession. He features on the Boards of a
number of other firms, in most of which he is however believed to merely
represent the interests of the shareholders.
There are no detrimental reports on the
responsible persons' business conduct.
COMMENTS:
The reason for the capital decrease in
September 2003 was the fact that the Toronto-based parent company Chemtrade
Logistics Inc. needed money and withdrew capital to Canada.
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 |