MIRA INFORM REPORT

 

 

Report Date :

4th May 2006

 

IDENTIFICATION DETAILS

 

Name :

I.M.A. ENGINEERING LTD.

 

 

Registered Office :

Mobile Post Oshrat

Ein Hamifratz 25210 Israel

 

 

Date of Incorporation :

27.5.1993.

 

 

Legal Form :

Private limited company

 

 

Line of Business :

Developers, manufacturers, exporters and marketers of machines and production lines for agriculture and industrial sectors

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Good

 

 

Payment Behaviour :

Regular 

 

 

Litigation :

Clear

 

 

 

 

 

NAME & ADDRESS

 

I.M.A. ENGINEERING LTD.

Telephone   972 4 985 24 42

Fax              972 4 985 23 04

Mobile Post Oshrat

EIN HAMIFRATZ   25210 ISRAEL

 

 

 

HISTORY

 

A private limited company, registered as per file No. 51-181597-9 on the 27.5.1993.

 

 

SHARE CAPITAL         

 

Authorized share capital NIS 20,800.00, divided into -

20,800 ordinary shares of NIS 1.00 each, of which shares amounting to NIS 100.00 were issued.

 

 

SHAREHOLDERS        

 

1.KIBBUTZ EIN HAMIFRATZ, a cooperative society, operating a  communal agricultural settlement, 2. I.M.A. PACKAGING MATERIALS MANUFACTURING LTD., holding 1 single share.

 

 

DIRECTORS

 

1. Shaul Shilo,

2. Arie Raz,

3. Aviezer Richev,

4. Shmuel Meir,

5. Toval Zur.

 

 

GENERAL MANAGER

 

Noam Cohen.

 

 

BUSINESS

 

Developers, manufacturers, exporters and marketers of machines and production lines for agriculture and industrial sectors.

 

Amongst clients: I.M.A. 1990-ITZUR MUTZAREI ARIZA, Kibbutz Lohamey Hagetaot, KETER PLASTIC, DUCART, etc.

 

Among suppliers: RESHEF HAMIFRAZ, BAKARA, ZIVUN, AGAN ENGINEERING, SCOPE, etc.

 

Operating from owned premises, on an area of 1,000 sq. meters, in Kibbutz Ein Hamifratz.

 

Having 15 employees (had 5 in 2002).

 

 

MEANS     

 

Subject holds no stock, all activities are based on orders.

 

There is 1 charge for a sum of NIS 70,000 registered on company’s assets, in favor of HABEINLEUMI LEASING LTD.

 

 

ANNUAL SALES

 

2004 sales claimed to be NIS 6,000,000.

2005 sales claimed to be NIS 6,000,000.

 

 

OTHER COMPANIES

 

I. M. A. 1990 - ITZUR MUTZAREI ARIZA, Marketers and exporters of a wide range of corrugated cardboard packaging products and "honey-comb" packaging materials for agricultural, industrial and export use.

I.M.A. PACKAGING MATERIALS MANUFACTURING LTD., owned by Kibbutz Ein Hamifratz, designers and manufacturers of the a/m products.

SDEROT PACKAGING LTD., 100%, I. M. A. RAVSAL, 100%, marketing company for the agricultural sector, largest local carton and by-products for agricultural packaging.

RAVSAL MARKETING 1997 LTD.

YAMATON LTD., 33%, manufacturers of “heavy carton” products, mainly for chemical, petrochemical and fertilizer use.

GIP HOLDINGS AND INVESTMENTS (1999) LTD., 76%,

 

 

BANKERS

 

The First International Bank of Israel Ltd., Haifa.

Bank Hapoalim Ltd., Haifa.

 

 

CHARACTER AND REPUTATION

 

Nothing unfavorable learned.

 

Kibbutz Ein Hamifratz has 420 members and a total population of 700. It is also operating an agricultural sector, which includes: fish breeding, field corps, e.g. (corn cotton, wheat), avocado and citrus plantations, a plant nursery, etc. Cultivating a total of 6,000,000 sq. meters.

 

In 1997, it was reported that subject, together with TANKO PACKAGING, of the USA, signed a deal to develop manufacturing lines for MISHTACHEY KINAROT.

 

In April 2001, it was reported that subject will provide equipment for YAMATON’s new factory in Denmark, for a sum of US$ 1 million.

 

 

SUMMARY

 

Good for trade engagements.

 

 

 

 

 

 RATING EXPLANATIONS

 

 

RATING

STATUS

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

 

 

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