MIRA
INFORM REPORT
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Report Date : |
27th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
PELMAR
ENGINEERING LTD. |
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Registered Office : |
3
Bustenai Street Ramat
Hasharon 47302 Israel |
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Country : |
Israel |
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Date of Incorporation : |
1.11.1987 |
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Legal Form : |
Private
limited company |
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Line of Business : |
Importers,
exporters, marketers and international dealers in materials, equipment and
machinery for the rubber and polymers industry. |
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 : |
Regular
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Litigation : |
Clear |
NAME & ADDRESS
PELMAR
ENGINEERING LTD.
Telephone
972 3 540 92 77
Fax 972 3 549 35 20
P.O Box
2418 (47120)
3 Bustenai
Street
RAMAT
HASHARON 47302 ISRAEL
HISTORY
A private
limited company, incorporated as per file No. 51-123864-4 on the 1.11.1987.
Originally
registered under the name MARPEL INDUSTRIES (1987) LTD., which changed to
MARPEL - INDUSTRIES AND SERVICES LTD. on the 28.1.1998, which changed to the
present name on the 2.8.1990.
SHARE
CAPITAL
Authorized
share capital NIS 170,000.00,
170,000
ordinary shares of NIS 1.00 each, of which shares amounting to NIS 85,890.00
were issued.
SHAREHOLDERS
1. Jacob
Peled, 67.4%,
2. Harvy
Brodetzky, 20%,
3. Tuvia
Margalit, 7.6%,
4. Ms.
Telma Peled, 5%.
DIRECTORS
1. Jacob
Peled, General Manager,
2. Tuvia
Margalit.
BUSINESS
Importers,
exporters, marketers and international dealers in materials, equipment and
machinery for the rubber and polymers industry.
Operating
from rented premises, on an area of 400 sq. meters, in 3 Bustenai Street, Ramat
Hasharon, from logistic centers in Petach Tikva and Yokneam, and from branches
in the USA, UK, Germany, France, and Italy.
Having 40
employees (had 13 in 2002).
MEANS
Financial
data not forthcoming.
There are 5
charges for unlimited amounts registered on the company’s assets, in favor of
Israel Discount Bank Ltd. and Bank Leumi LeIsrael B.M.
ANNUAL
SALES
2004 sales
claimed to be US$ 25,000,000, 80% for export.
2005 sales
claimed to be US$ 30,000,000, 80% for export.
OTHER
COMPANIES
PEL-DAR POLYMERS
LTD., importers and marketers of raw materials for the rubber and tires
industry,
PEL SHAR
LTD., non active,
POLYMERICS
LTD.,
PELMAR
ENGINEERING U.K. LTD., providers of machinery and engineering services in the
UK and in the former Soviet Republics,
T.G.L. S.P.
INDUSTRIES LTD., 50%, manufacturers and marketers of metal and rubber products
for the military field,
DULAM
PELSHAR LTD.,
PELMAR
ITALY,
PELMAR
GERMANY.
BANKERS
Israel
Discount Bank Ltd., Main Branch (No. 060), Jerusalem, account no. 711105.
Bank Leumi
LeIsrael B.M., Herzliya Business branch (no. 814), account no. 220400/72.
A check
with the central bank database did not reveal anything detrimental on subject’s
a/m accounts.
CHARACTER
AND REPUTATION
Nothing unfavourable learnt.
From the Plastic and Rubber Manufacturing
Association in Israel analysis, the following figures are reported:
Sales of the branch in the first half of 2005 reached US$ 1.78 billion, a 11% increase from the parallel period in 2004. The increase resulted from a 13.6% increase in exports which amounted to US$ 920 million, and from a 8.4% increase in sales to the local market, which reached US$ 863 million.
Exports are to Europe (50%), North America (34%), South America (5%), Asia (5%), Africa (4.5%) and the middle east (1.5%).
During the first half of 2005, imports of equipment reached US$ 56 million, a 16.7% increase compared to the parallel period in 2004.
Consumption of raw materials for the plastic and rubber industries increased by 4.5% comparing to the parallel period in 2004 and summed up at 465,000 tons.
Following the growth in the branch, 500 new employees were added to the industry in the first half of 2005, and the current number of employees in the branch is now 21,500.
SUMMARY
Good for
trade engagements.
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 |