MIRA INFORM REPORT
|
Report Date : |
09.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
ROHM AND HAAS INDIA PRIVATE
LIMITED |
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|
|
|
Registered Office : |
121-122, Solitaire
Corporate Park, Chakala, Andheri Kurla Road, Andheri (East), Mumbai – 400
093, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
14.03.1995 |
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Com. Reg. No.: |
11-132718 |
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CIN No.: [Company Identification No.] |
U24231MH2001PTC132718 |
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TAN No.: [Tax Deduction & Collection Account No.] |
MUMR14396E |
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PAN No.: [Permanent Account No.] |
AAACR2855F |
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Legal Form : |
Subject
is a Private Limited Liability Company. |
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Line of Business : |
Traders, Importers and
Exporters of all types of organic, inorganic polymers, etc. |
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 |
|
Maximum Credit Limit : |
USD 425000 |
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|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
The company is a part of
Rohm And Haas, U.S.A. Although its profit margin is low, it has huge
expansion plans in India. Trade
relations are fair. Payments are
correct and as per commitments. The company can be
considered good for normal business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered Office : |
121-122, Solitaire
Corporate Park, Chakala, Andheri Kurla Road, Andheri (East), Mumbai – 400
093, Maharashtra, India |
|
Tel. No.: |
91-22-66929100 |
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Fax No.: |
91-22-66989146 |
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Head Office : |
Unit I &
II, 2nd Floor, Building 1, Solitaire Corporate Park, Chakala, Andheri-Kurla
Road, Andheri (East), Mumbai – 400 093, Maharashtra, India |
|
Tel. No.: |
91-22-66929100 |
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Fax No.: |
91-22-66989146 |
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Overseas Offices : |
ARGENTINA Australia Tel.:
(61)-3-9272-4222 Fax:
(61)-3-9272-4211 Belgium Tel.: (32)
3-543-6192 Fax:
(32)-3-541-7769 BraziL Edificio
Morumbi Office Tower, Avenida Roque Petroni Jr., 999 9o, andar, CEP 04707-000
-- São Paulo, Brazil Tel.:
55-11-5185-9000 Fax:
55-11-5182-5110
Canada Tel.:
(1)-416-284-4711 Fax:
(1)-416-287-4423
Av. El Bosque
Norte 0107 - Of. 51, Santiago, Chile Tel.:
(56)-2-233-5781 Fax:
(56)-2-232-6768
Tel.:
(86)-21-6921-1018 Fax:
(86)-21-6921-1001 Colombia Calle 72, N°
12-65, 6° Piso, Bogotá, Colombia Tel.:
(57)-1-312 4545 Fax: (57)-1-212
1604
Tel.: (33)-1 40
02 54 47 Fax: (33)-1 40
02 50 12
Tel.: (49)-69
789 96 122/176 Fax: (49)-69
789 42 456
G.P.O. Box
10542, Hong Kong Tel :
(852)-2868-1383 Fax :
(852)-2845-2555 Hungary Tel :
(36)-1-202 22 91 Fax :
(36)-1-202 23 91
Tel.:
(62)-21-252-0535 Fax :
(62)-21-252-2805 JI. Eropa III
Kav. M2, Krakatau Industrial Estate, Cilegon, Jawa Barat 42443, Indonesia Tel. :
62-254-380631 Fax :
62-254-380632 Graha Pratama
3A Floor, Jl. MT Haryono Kav. 15, Jakarta – 12810 Tel. : 62 21
8379 3843
Tel.: (39)-331
839 329 Fax: (39)-331
839 596
KSP Bldg.
D-10F, 3-2-1 Sakado, Takatsu-ku, Kawasaki, Kanagawa Pref.213-0012, Japan Tel.:
(81)44-814-8100 Fax:
(81)44-814-8121
Seoul 135-973 Tel.:
(82)-2-555-7600 Fax:
(82)-2-555-0231 Malaysia 59200 Kuala
Lumpur, Malaysia Tel.:
(60)-3-2938-3866 Fax:
(60)-3-2938-3380 Mexico Tel.:
(52)-55-5081-6666 Fax:
(52)-55-5081-6653, (55)-5081-6669
16 Beach Road,
Otahuhu, Auckland 6, New Zealand Tel.:
(64)-9-276-7154 Fax:
(64)-9-276-5518 Pakistan Tel.:
(92)-21-231-0436 Fax:
(92)-21-231-4940 Philippines Tel.:
63-2-871-0731 to 37 Fax:
63-2-873-0815 Russia Rohm and Haas
(UK) Limited, Khlebny Pereulok #19A, 8th Floor, 121069 Moscow, Russia Tel.: (7)
505-726 59 29 / 095-291 08 45 Fax: (7)
505-726 59 16 Singapore Singapore
Technical Centre, No.11 Tuas Avenue 12, Singapore 639034 Tel.:
(65)-6861-1077 Fax:
(65)-6861-6865
Tel.: (34)-93
227 1924 Fax: (34)-93
323 6045
8 Schafer Road,
PO Box 2434, New Germany 3610, South Africa Tel.:
(27)-31-705-3260 Fax:
(27)-31-705-3111
Tel.:
(46)-418-450 437 Fax:
(46)-418-450 499 Taiwan Tel.:
(886)-2-2898-1500 Fax:
(886)-2-2898-1213
Tel.:
(66)-2-679-1030 Fax:
(66)-2-679-1039
Lennig House,
2, Mason's Avenue, Croydon CR9 3 NB – England Tel.: (44)-208
774 53 72/73 Fax: (44)-208
774 53 77
Ion Exchange
Resins, 100 Independence Mall West, Philadelphia, PA 19106-2399 Tel.:
800-RH-AMBER (US and Canada) or
(1)-215-592-2038 Fax:
(1)-215-409-4534
Tel.:
84-8-8226868 Fax:
84-8-822-6969 |
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|
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Branches : |
Plot
No. T-22/PT, MIDC Taloja Industrial Area, Dist. Raigad – 410 208,
Maharashtra, India Tel.
No. : 91-22-27412476/79/82/83/91/94/98 Fax
No. : 91-22-27410564/74 105,
Gauri Commercial, Sector II, CBD Belapur, Navi Mumbai – 400 614, Maharashtra,
India Tel.
No. : 91-22-27565229 / 27580075 Fax
No. : 91-22-27565226 Contact
Person : Mr. B. V. Iyer No.
48/1, 1st Floor, M. S. Complex, Mosque Road, Frazer Town,
Bangalore – 560005, Karnataka, India Tel.
No. : 91-80-25482587 / 25482538 Fax
No. : 91-80-25482592 |
DIRECTORS
|
Name : |
Mr.
Atul C. Thakrar, USA |
|
Designation : |
Director
(Foreign) |
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Address : |
China
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Date of Birth : |
07.09.1958 |
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Date of Appointment : |
05.05.1998 |
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Ceasing Date : |
30.12.2002 |
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|
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|
Name : |
Mr.
Harish Vittalrao Badani |
|
Designation : |
Managing
Director |
|
Address : |
602, Brentwood, Main
Street, Hiranandani Gardens, Powai, Mumbai – 400 076, Maharashtra |
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Date of Birth/Age : |
12.12.1962 |
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Qualification : |
05.09.2000 |
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|
Name : |
Mr.
David D. Glass |
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Designation : |
Director
(Foreign) |
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Address : |
China |
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Date of Birth : |
27.09.1959 |
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Date of Appointment : |
07.09.2001 |
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Ceasing Date : |
26.08.2003 |
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|
|
Name : |
Mr.
Wen Ruoyang Zhou |
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Designation : |
Director
(Foreign) |
|
Address : |
China |
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Date of Birth : |
18.06.1966 |
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Date of Appointment : |
07.09.2001 |
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Ceasing Date : |
30.12.2002 |
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|
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|
Name : |
Mr.
James F. Fox |
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Designation : |
Director
(Foreign) |
|
Address : |
U.S.A. |
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Date of Birth : |
03.09.1944 |
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Date of Appointment : |
07.09.2001 |
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Ceasing Date : |
30.12.2002 |
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|
Name : |
Mr. Thomas Patrick Grehl |
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Designation : |
Director
(Foreign) |
|
Address : |
No. 23, Alley 88, Lane 25
Tung Shan Road, Shihlin 111, Taipei, Taiwan |
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Date of Birth : |
20.04.1955 |
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Date of Appointment : |
30.12.2002 |
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|
Name : |
Mr.
Mark Peter Maguire |
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Designation : |
Director
(Foreign) |
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Address : |
Homat Pearl # 301 3-8-50
Moto Azabu Minato Ku, Tokyo 106-0046, Japan |
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Date of Birth : |
30.03.1951 |
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Date of Appointment : |
30.12.2002 |
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|
Name : |
Mr.
Cherry Cuihua Fam |
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Designation : |
Director
(Foreign) |
|
Address : |
RM 2002, Gate 28, 968, Wan
Ping Road, Sout, Shanghai, China |
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Date of Birth : |
12.01.1961 |
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Date of Appointment : |
30.12.2002 |
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|
|
Name : |
Mr.
Robert Everett |
|
Designation : |
Director
(Foreign) |
|
Address : |
27-A, Carlton Street,
Mckinnon Victoria 3204, Australia |
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Date of Birth : |
15.09.1953 |
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Date of Appointment : |
26.08.2003 |
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|
Name : |
Mr.
Raman Gopal |
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Designation : |
Director |
|
Address : |
B-701, Dara Enclave, AWHO
Sector 9, Nerul, Navi Mumbai, Maharahstra |
|
Date of Birth : |
22.03.1966 |
|
Date of Appointment : |
30.12.2002 |
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|
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|
Name : |
Mr.
Peter A. Holmes, Singapore |
|
Designation : |
Director |
|
Date of Appointment : |
10.02.1999 |
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|
Name : |
Mr.
Frank T. Maher, Singapore |
|
Designation : |
Director |
|
Date of Appointment : |
10.02.1999 |
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|
Name : |
Mr.
Macario A. Sarreal, USA |
|
Designation : |
Director |
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Date of Appointment : |
06.09.1996 |
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|
Name : |
Mr. Reuban Salazar, Delhi |
|
Designation : |
Director |
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Ceasing Date : |
10.02.1999 |
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|
Name : |
Mr. George Presains |
|
Designation : |
Director |
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|
Name : |
Mr. Macario Sarreal |
|
Designation : |
Director |
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|
Name : |
Mr.
Pavan Kumar |
|
Designation : |
Managing
Director |
|
Address : |
Flat
No. 302, ‘Flora’ 13th Road, Khar [West], Mumbai – 400052,
Maharashtra, India |
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Date of Birth : |
01.09.1959 |
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Date of Appointment : |
01.11.2004 |
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|
|
|
Name : |
Mr.
Joan A. Schuller |
|
Designation : |
Director
|
|
Address : |
5
Nathan Road, # 01 – 03, Regency Park, Singapore – 248727 |
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Date of Birth : |
07.04.1972 |
|
Date of Appointment : |
01.11.2004 |
KEY EXECUTIVES
|
Name : |
Mr.
Rahul Jhalawad |
|
Designation : |
Secretary
|
|
Address : |
D/202,
Gardenia, Gundecha’s Valley of Flower, Thakur Village, Kandivali [East],
Mumbai – 400101, Maharashtra, India |
|
Date of Birth : |
28.02.1978 |
|
Date of Appointment : |
01.08.2004 |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
|
No. of Shares |
|
Rohm & Haas India
Investment Aps (Denmark) |
|
35767500 |
|
Rohm & Haas Denmark
Aps, Denmark |
|
5000 |
BUSINESS DETAILS
|
Line of Business : |
Traders, Importers and
Exporters of all types of organic, inorganic polymers, etc. |
|
|
|
|
Product : |
Product Description Item Code No. ROPAQUE OP 62 3903.90 PRIMAL AC 261 3906.90 Primal TR 407 3906.90 ·
Ropaque OP 62 ·
Primal AC 261 ·
Primal TR 407 ·
Ropaque OP 96 ·
Mor Free 403 LV Adhesives Ø
Adcote Solvent Based
Adhesives Ø
Mor-Free and Mor-Quik
Solvent-Free Adhesives Ø
Coseal and Robond CS
Cold Seal Adhesives Ø
Robond L Water-Based
Adhesives Ø
Lamal Alcohol-Based
Adhesives Coatings Ø
Adcote Solvent Based
and Water-Based Heat Seal Ø
Mor-Prime
Polypropylene Dispersions Ø
Adcote Solvent and
Water Based Primers Ø
Serfene Barrier
Adhesives and Coatings Construction Ø
Caulks and Sealants Ø
Construction Adhesives Ø
Adhesive Compounding |
PRODUCTION STATUS
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
Emulsion
Polymers |
Qty. MT |
2500035000 |
14706 |
|
Packaging
Adhesives |
Qty. MT |
2500035000 |
2804 |
GENERAL INFORMATION
|
Suppliers : |
Thomas
Baker [Chemicals] Private Limited Safeline
Electricals Cybermetik
Technologies Private Limited SymSys
Technologies Private Limited Jayant
Packaging Industry Dweeo
Enterprises |
|
|
|
|
No. of Employees : |
30 |
|
|
|
|
Bankers : |
Standard Chartered
Grindlays Bank Limited Dr. D. N. Road, Mumbai,
Maharashtra Citibank N. A. |
|
|
|
|
Banking Relations : |
Satisfactory
|
|
|
|
|
Auditors : |
Price Waterhouse &
Company Chartered Accountants Mumbai,
Maharashtra |
|
|
|
|
Holding Company : |
Rohm
and Haas India Investment ApS |
|
|
|
|
Ultimate Holding Company
: |
Rohm
& Haas Company, USA |
|
|
|
|
Associates : |
Ø
Beijing Easter Rohm
and Haas Company Limited Ø
PT Rohm and Haas
Indonesia Ø
Rohm and Haas
International Trading [Shanghai Company Limited] Ø
Rohm and Haas
Management Consulting Service [Shanghai] Company Limited Ø
Shanghai Eastern Rohm
and Haas Company Limited Ø
Rohm and Haas B.V. Ø
Rohm and Haas Company
ER Ø
Rohm and Haas Italia
S.R.L. Ø
Rohm and Haas Denmark
Financ ApS Ø
Rohm and Hass
Argentina S.R.L Ø
Rohm and Hass
Australia Pty. Limited Ø
Rohm and Hass Benelux
N.V Ø
Rohm and Hass Quimica
Ltda Ø
Rohm and Hass Canada
Inc Ø
Rohm and Hass Chile
Ltda Ø
Rohm and Hass Shanghai
Chemical Industry Ø
Rohm and Hass Malaysia
Sdn Bhd Ø
Rohm and Hass Mexico
S.A. de C.V Ø
Rohm and Hass New
Zealand Limited Ø
Rohm and Hass Asia,
Inc, Karachi Ø
Rohm and Hass
Philippines, Inc Ø
Rohm and Hass (UK)
Limited Ø
Rohm and Hass
Singapore Pte Limited Ø
Rohm and Hass Colombia
S.A Ø
Rohm and Hass France
S.A.S. Ø
Rohm and Hass
Deutschland GmbH Ø
Rohm and Hass China
Inc Ø
Rohm and Hass Austria
GmbH Ø
Rohm and Hass Espana
S.A Ø
Rohm and Hass South
Africa (Pty) Limited Ø
Rohm and Hass Nordiska
A. B. Ø
Rohm and Hass Taiwan, Inc Ø
Rohm and Hass Chemical
(Thailand) Limited Ø
Rohm and Hass Japan K.
K. Ø
Rohm and Hass Korea
Company Limited Ø
Rohm and Hass Asia,
Inc |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
40000000 |
Equity Shares |
Rs. 10/- each |
Rs. 400.000 millions |
|
55000000 |
Preference Shares |
Rs. 10/- each |
Rs. 550.000 millions |
|
|
TOTAL |
|
Rs. 950.000 millions |
Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
35772500 |
Equity Shares |
Rs.10/- |
Rs. 357.725 millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
SHAREHOLDERS
FUNDS |
|
|
|
|
1]
Share Capital |
357.725 |
357.725 |
125.000 |
|
2]
Share Application Money |
0.000 |
0.000 |
0.000 |
|
3]
Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
4]Profit
and Loss Account |
[249.470] |
[211.936] |
(90.154) |
NETWORTH
|
108.255 |
145.789 |
34.846 |
|
|
|
|
|
|
LOAN
FUNDS |
|
|
|
|
1]
Secured Loans |
0.000 |
0.000 |
0.000 |
|
2]
Unsecured Loans |
914.915 |
859.915 |
565.196 |
TOTAL BORROWING
|
914.915 |
859.915 |
565.196 |
|
|
|
|
|
GRAND
TOTAL
|
1023.170 |
1005.704 |
600.042 |
|
|
|
|
|
|
APPLICATION
OF FUNDS |
|
|
|
|
|
|
|
|
|
FIXED
ASSETS [Net Block] |
833.998 |
863.583 |
103.891 |
|
Capital
work-in-progress |
0.000 |
19.340 |
474.682 |
|
Pre-operative
Expenditures |
0.000 |
0.000 |
53.977 |
|
|
|
|
|
|
CURRENT
ASSETS, LOANS & ADVANCES |
|
|
|
|
Inventories |
265.917 |
210.291 |
27.491 |
|
Sundry
Debtors |
378.658 |
188.192 |
77.071 |
|
Cash
& Bank Balances |
24.126 |
12.011 |
2.3640 |
|
Loans
& Advances |
134.007 |
96.711 |
37.217 |
|
Total
Current Assets |
802.708 |
507.205 |
144.143 |
|
|
|
|
|
|
Less : CURRENT LIABILITIES & ROVISIONS |
|
|
|
|
Current
Liabilities & Provisions |
613.536 |
384.424 |
176.651 |
|
Total Current Liabilities |
613.536 |
384.424 |
176.651 |
|
Net Current
Assets |
189.172 |
122.781 |
(32.508) |
|
|
|
|
|
GRAND
TOTAL
|
1023.170 |
1005.704 |
600.042 |
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
Sales
Turnover [including other income] |
1174.296 |
447.198 |
210.783 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
[37.492] |
[121.741] |
2.112 |
|
Provision
for Taxation |
0.041 |
0.041 |
(0.031) |
|
Profit/(Loss)
After Tax |
[37.533] |
[121.782] |
2.143 |
|
|
|
|
|
Export Value
|
388.732 |
61.393 |
25.032 |
|
|
|
|
|
Import Value
|
451.664 |
393.486 |
162.064 |
|
|
|
|
|
|
Total Expenditures |
1211.789 |
560.889 |
219.891 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
31.03.2003 |
PAT / Total Income
|
(%)
|
[3.19]
|
[27.23]
|
1.02
|
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
[3.19]
|
[27.22]
|
1.00
|
|
|
|
|
|
|
Return on Total Assets
(PBT/Total Assets} |
(%) |
[2.29]
|
[8.88]
|
0.27
|
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
[0.34]
|
[0.85]
|
0.06
|
|
|
|
|
|
|
Debt Equity Ratio
(Total Liability/Networth) |
|
14.11
|
8.53
|
22.29
|
|
|
|
|
|
|
Current Ratio
(Current Asset/Current
Liability) |
|
1.30
|
1.31
|
0.82
|
LOCAL AGENCY FURTHER INFORMATION
History
:
Subject was incorporated on
14th March, 1995 at Delhi having Company Registration Number 66312.
The Registered Office of the
company has been shifted from Delhi to Mumbai in Maharashtra with effect from 13th July, 2001
and a new Company Registration Number 132718 of Mumbai ROC was obtained.
Rohm
and Haas [India] Private Limited was incorporated as a subsidiary of Rohm and
Haas Company, USA in the year 1995. the
company started trading activities of specialty chemicals after its
incorporation. With the increased
business activities the company started its first green field project for
manufacture of coatings and adhesives at Taloja, District Raigad. The project
started during the year 2002 and the plant was formally inaugurated in the
month of August, 2003.
During
the year 2005-06 they have undertaken expansion of the Taloja plant and also
initiated the process for setting up a new project for manufacturing of
coasting at Chennai. As a result of
this and due to increased business activities the finalization of accounts for
the financial year 2005-06 has been delayed.
The company’s fixed assets of
important value include:
v
Leasehold Improvements
v
Office Equipments
v
Furniture and Fixtures
v
Vehicles.
Rohm
and Haas Company Celebrates Ground Breaking for New China Research and
Development Center
Philadelphia, PA, and Shanghai, China, June
29, 2005 — Rohm and Haas Company (NYSE:ROH) today celebrated the official ground
breaking for its new China Research and Development Center in Shanghai.
Located on 33,000 square meters (over eight acres) in the Zhangjiang Hi-Tech Park,
Pudong New Area, the world class facility will serve as the company’s primary
research and technical service headquarters for China and the Asia-Pacific
region.
“This is an exciting and incredibly important day
for their company, their customers, and the more than 1,000 Rohm and Haas
employees working in China and the surrounding regions,” said Raj L. Gupta,
chairman and chief executive officer of Rohm and Haas Company. “For
nearly 100 years, creative chemistry and the innovative spirit of Rohm and Haas
researchers have delivered amazing technologies and products serving hundreds
of markets. With next year’s opening, this new research and development
center will mark their ongoing commitment to serving a rapidly growing customer
base in the Asia-Pacific region,” Gupta said.
Nearly 200 guests attended the event, including
government officials from Shanghai, Pudong New Area and Zhangjiang Hi-Tech
Park. Other dignitaries included officials from the People’s Republic of
China Ministry of Science and Technology and the U.S. Consulate General in
Shanghai, managers from Shanghai Zhangjiang (Group) Company Limited,
representatives from customers and neighboring companies, and Rohm and Haas
employees and executives from around the world.
Dr. Gary Calabrese, Rohm and Haas vice president
and chief technology officer, noted the importance of consolidating research
under one facility. “Providing their scientists, engineers, and technical
service professionals with first class facilities as they ramp up their research
activities in China has been a priority,” he said. “But equally important
is bringing not only researchers from different businesses together under one
roof, but also having marketing and sales employees located at the same
center. They typically see a broader set of ideas for new products and
more creative solutions to difficult challenges when their research and
commercial employees are co-located.”
Rohm and Haas’s new China Research and Development
Center will include two buildings: a four story research facility and a
four story administration building. Modern laboratory space, which will
feature state-of-the-art equipment and air handling systems, will be highly
flexible to meet future research needs. Meeting and conference rooms, a
training center, and offices will be located in the administration building,
which will also serve as the site’s main entrance. Both buildings will be
shaped in a “C” surrounding a landscaped internal garden. The garden will
capture the spirit of traditional Chinese landscape design, but interpreted
with modern materials.
The new site, expected to open in mid-2006, will
initially employ about 350 Rohm and Haas researchers, technical service
personnel, commercial and sales professionals and functional staff. It
has the flexibility to grow with at least one additional multipurpose building
for R&D, technical service, customer service and commercial offices.
The initial 350 employees will be relocated from other Rohm and Haas facilities
throughout Shanghai, but the site is capable of employing up to 1,500
employees. Rohm and Haas will invest $30 million (U.S.) initially,
although the total project is estimated at up to $60 million (U.S.) if
long-term growth necessitates site expansion.
Sam Shoemaker, Asia-Pacific regional director for
Rohm and Haas and president of Circuit Board Technologies for Rohm and Haas
Electronic Materials, said the investment is important for the company to grow
its presence in the region and to more quickly develop and commercialize products
that meet the needs of local and regional customers. “From their initial,
rather modest facility that opened in Hong Kong in 1979 through today, they’ve
seen steady—and sometimes remarkable—demand for Rohm and Haas’s specialty
materials used in electronics, coatings, adhesives, personal care products,
purification, and plastics, to name just a few. As customers continue to
look for advanced technologies, having the infrastructure on the ground in this
region is critical to anticipate and quickly respond to unique needs.
When the new center opens in a year, it’ll mark a giant step in rapidly growing
their presence and product offerings in China,” he said.
Rohm and Haas operates more than 30 technical
centers around the world, with its research headquarters located in Spring
House, Pennsylvania. The company employs 2,300 researchers, technical
service professionals, and engineers worldwide, and expects to spend about $280
million on research and development this year.
Rohm and Haas to set up facility for specialty
chemicals in South
Latha Venkatraman
Mumbai, Nov. 4
ROHM
and Haas (India) Private Limited, a specialty chemicals company, plans to
invest Rs 1000 millions in setting up a greenfield facility in South India and
expand capacities in its existing plant in Western India.
The
company, 100 per cent owned by the US-based Rohm and Haas, is setting up the
facility in South India primarily to address the growth in the two key
businesses it is present - architect and functional coatings; and adhesives and
sealants.
The
need for investments in capacity enhancement stems from the growth
opportunities present in India, said Mr Pavan Kumar, Managing Director, Rohm
and Haas (India) Private Limited India is an important market in the
Asia-Pacific region for the US-based parent.
The
company is awaiting some key studies for setting up the greenfield plant in
South India. "The geography of the greenfield plant would depend on the
proximity to the port as they import key raw materials," Mr Kumar said. Besides,
the plant's location should offer logistical advantage, he said.
A
part of the Rs 1000 millions investment would also go into expansion of its
manufacturing facility at Taloja, near Mumbai.
This
plant manufacturers water based emulsion polymers for the decorative paints,
textiles, construction, paper coatings and leather industries, and flexible
packaging adhesives.
The company's capacity
building plan is expected to help it to grow its turnover to Rs 7000 millions
over the next five years from Rs 2500 millions in 2005.
This
would largely come from generic market growth, Mr Kumar said. "Their key
end users are growing at a rate higher than the country's GDP. The paints
industry is growing at 12-14 per cent and within paints decorative is growing
faster. At the same time, industrial paints, which is a smaller market, also
hold a lot of potential," he said.
Though
much of the focus for Rohm and Haas would be the growing domestic market, the
company would also continue to export.
Overseas sales from India
would form 20-25 per cent of the turnover.
The
setting up of a greenfield facility in India would help the company expand its
portfolio of offerings for the domestic market.
"They
would like to take a step ahead of regulation and go in for
environmental-friendly polymers and additives for water-based paints,
solvent-free adhesives, plastic additives and chemicals for pharmaceutical
industry," Mr Kumar said.
CMT REPORT [Corruption, Money
laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION ON DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of Anti-Corruption Laws :
Charges or investigation registered
against subject: None
6] Records on Int’l Anti-Money Laundering Laws/Standards :
Charges or investigation registered
against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have
been
formally charged or convicted by a competent governmental authority for any
financial
crime or under any formal investigation by a competent government authority
for
any violation of anti-corruption laws or international anti-money laundering
laws or
standard.
8] Affiliation with Government :
No record exists to suggest
that any director or indirect owners, controlling
shareholders, director,
officer or employee of the company is a government official or a
family member or close
business associate of a Government official.
9] Compensation Package :
Our market survey revealed that the amount of compensation sought by the
subject is fair and reasonable and comparable to compensation paid to others
for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA
INFORM as part of its Due Diligence do provide comments on Corporate Governance
to identify management and governance. These factors often have been predictive
and in some cases have created vulnerabilities to credit deterioration.
Our
Governance Assessment focuses principally on the interactions between a
company’s management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject
is not known to have contravened any existing local laws, regulations or
policies that prohibit, restrict or otherwise affect the terms and conditions
that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.45.16 |
|
UK
Pound |
1 |
Rs.85.99 |
|
Euro |
1 |
Rs.57.92 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP
CAPITAL |
1~10 |
5 |
|
OPERATING
SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT
LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT
POINTS |
|
|
|
--BANK
CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER
ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT
POINTS |
|
|
|
--SOLE
DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT
ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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%)
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 |
|
NR |
In
view of the lack of information, we have no basis upon which to recommend
credit dealings |
No Rating |
|