MIRA INFORM REPORT

 

 

Report Date :

11th May 2006

 

IDENTIFICATION DETAILS

 

Name :

CONSERVERIE DES AURES

 

 

Registered Office :

Domaine Daghoussa

BP 62, 36240 Besbes

El Tarf, Algeria

 

 

Date of Incorporation :

1974

 

 

Legal Form :

Limited liability company

 

 

Line of Business :

Importers, manufacturers and wholesalers of tinned foodstuff.

 

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 :

Satisfactory 

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

                       


 

 

CO. NAME

 

CONSERVERIE DES AURES (Correct)          

CONSERVERIE DES AURES - CAA (Requested)

 

 

ADDRESS

 

Area            :  Domaine Daghoussa

P.O. Box      :  BP 62

Town           :  36240 Besbes

Province      :  El Tarf

Country      :  Algeria

 

Telephone   :  (213 38) 684 026 / 867 854

Fax              :  (213 38) 867 854

E-Mail         :  c.a.a_lion@caramail.com

 

Shortform Name :  CAA

 

Trading Styles      :  La Coupe

                             :  Le Palmier

                             :  Le Lion

 

 

SENIOR COMPANY PERSONNEL

 

Name                                                Position

 

1. Faouzi Hanafi                                Chairman

 

2. Nabil Hanafi                                  Managing Director

 

3. Boumendjel Mahi Eddine             Quality Manager

 

Total Employees : 174

 

 

PAYMENTS

 

No complaints have been heard regarding payments from local suppliers or banks.

 

We consider it is acceptable to deal with subject for MEDIUM amounts, although it is normal accepted practice for international suppliers to deal on secured terms with Algerian importers.

 

Opinion on maximum credit : AD 8,000,000

 

Trade risk assessment : Normal

 

Opinion on the credit figure of EURO 150,000 :

 

The above figure is higher than normally seen in one amount, however could prove admissible if split into two transactions provided the total indebtedness is strictly monitored.

 

 

PRINCIPAL BANKERS

 

NAME     : BANQUE NATIONALE D'ALGERIE

 

Branch   : 17 Cours De la Revolution

Town     : 23000 Anaba

 

Telephone: (213 38) 862 010

Fax      : (213 38) 866 037

 

 

FINANCIAL INFORMATION

 

Balance sheets are not available. However, the subject interviewed offered the following information :

 

Sales Turnover     : AD 1,050,000,000 - 2004 - exact

                             : AD   570,000,000 - 2005 - exact *

 

Net Profit              : AD     5,000,000 - 2004 - exact

                             : AD     5,200,000 - 2005 - exact

 

Financial year ends 31 December.

 

* decrease in sales turnover was due to decrease of tomato   production

 

 

LEGAL STATUS AND HISTORY

 

Date Started : 1974

 

Capital : AD 31,108,000

 

Societe a Responsibilite Limitee (limited liability company) with the following shareholders :

 

1. Faouzi Hanafi              

 

2. Nabil Hanafi

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Importers, manufacturers and wholesalers of tinned foodstuff.

 

Subject specialized in tomatoes and jam.

 

Imports equipment from Europe.

 

 

FACILITIES

 

The Company has the following facilities :

 

Ofice premises and factory located at the heading address as well as  office in Anaba.

 

 

BRANCH OFFICES

 

1. 16 bis, Rue Prosper Dubourg, Avenue de l’ ALN

   Annaba

   Tel: (213 38) 864 026 / 867 854

   Fax: (213 38) 868 034

 

2. 4, Rampe Chasseloup Laubat

   Algiers

 

 

 

 

 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

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions