MIRA INFORM REPORT

 

 

Report Date :

01.08.2007

 

IDENTIFICATION DETAILS

 

Name :

NOVACETA S.R.L.

 

 

Registered Office :

Viale, Piemonte, 66

20013 – Magenta (MI) -IT

 

 

Country :

Italy

 

 

Date of Incorporation :

01/03/2007

 

 

Legal Form :

Sole-Member Limited Liability Company

 

 

Line of Business :

Spinning preparation and combing of wool and other textile fibres

 

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

New Company

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 


COMPANY NAME & ADDRESS

 

Novaceta S.r.l.

 

Viale, Piemonte, 66

20013 – Magenta (MI) -IT-

 

 

SUMMARY

 

 

Legal Form                    : Sole-Member Limited Liability Company

Start of Activities            : 04/04/2007

Number of Employees    : from 251 to 500

 

N.B.: Additional information are present in the "FURTHER INFORMATION" module.

 

 

CREDIT ANALYSIS

 

Score                                    : Risk very high

 

 

ACTIVITY

 

Spinning preparation and combing of wool and other textile fibres.

 

 

LEGAL DATA

 

Legal Form                                            : Sole-Member Limited Liability Company

 

Foreign Trade Reg. no.                           : MI363941 since 12/07/2007

 

Chamber of Commerce no.                     : 1838231 of Milano since 12/03/2007

 

V.A.T. Code                                          : 05664840963

 

 

Establishment Date                                : 01/03/2007

Start of Activities                                    : 04/04/2007

Legal Duration Date                                : 31/12/2050

Nominal Capital                                     : 9.000.000 Eur

Subscribed Capital                                 : 9.000.000 Eur

Paid up Capital                                      : 9.000.000 Eur

 

 

MEMBERS

 

Lettieri Giovanni

 

 

Born in Napoli (NA) on 21/11/1956  - Fiscal Code : LTTGNN56S21F839B

 

Residence : Via Alessandro Poerio , 32 – 80100 Napoli (NA) - IT -


 

Position

Since

Shares Amount

% Ownership

Director

04/04/2007

 

 

Board Chairman

04/04/2007

 

 

 

No Protests registered.

 

Scicolone Marco

 

Born in Milano (MI) on 09/07/1965 - Fiscal Code : SCCMRC65L09E333D

 

Residence : Via Astesani , 20/A - 20100 Milano (MI) - IT -

 

Position

Since

Shares Amount

% Ownership

Director

04/04/2007

 

 

 

No Protests registered.

 

Lettieri Giuseppe

 

Born in San Giorgio a Cremano (NA)  on 01/12/1980 - Fiscal Code : LTTGPP80T01H892E

 

Residence : Via Fontana , 18/A – 04024 Salerno (SA) - IT -

 

Position

Since

Shares Amount

% Ownership

Director

04/04/2007

 

 

 

No Protests registered.

 

 

COMPANIES CONNECTED TO MEMBERS

 

*checkings have been performed on a national scale.

*In this module are listed the companies in which members hold or held positions.

 

LETTIERI GIOVANNI

 

 

Company Style

Legal Seat

Fiscal Code

Position

Position Status

Firm Status

I.CO. INTERNAZIONALE COSTRUZIONI S.R.L.

Arzano (NA) - IT -

05865350630

Partner

Dismiss

Registered

A.S.S.E. (AVELLINO SVILUPPO SOCIO ECONOMICO) SOCIETA' CONSORTILE PER AZIONI.

Avellino (AV) - IT -

01966450643

Director

Dismiss

Registered

BANCA POPOLARE DELLE ISOLE PARTENOPEE - SOCIETA'COOPERATIVA A RESPONSABILITA'LIM

Napoli (NA) - IT -

06542390635

Director

Active

Registered

C D I CALITRI DENIM INDUSTRIES SPA

Napoli (NA) - IT -

05205820631

Liquidator

Dismiss

Liquidated

C D I CALITRI DENIM INDUSTRIES SPA

Napoli (NA) - IT -

05205820631

Board Chairman

-

Liquidated

C.D.I. INDUSTRIA TESSILE SURL

Calitri (AV) - IT -

03508760653

Sole Director

Active

Registered

CONSORZIO CAMPANIA FIDI

Napoli (NA) - IT -

95008810632

Director

Active

Registered

CONSORZIO CAMPANIA FIDI

Napoli (NA) - IT -

95008810632

Baord of Directors' member

Dismiss

Registered

EDIZIONI DEL MERIDIONE S.R.L.

- -

06743920636

Partner

Active

Registered

FASHION S.R.L

Salerno (SA) - IT -

04192020651

Sole Director

Active

Registered

FINANZA E SVILUPPO S.P.A.

- -

 

Vice-Chairman

Dismiss

Registered

FINIMA PARTECIPAZIONI S.P.A.

- -

06721910633

Chairman

Dismiss

Registered

FONDO GRECO S.R.L.

Salerno (SA) - IT -

04199370653

Sole Director

Active

Registered

GEA DI GIOVANNI LETTIERI E C. S.A.S.

Napoli (NA) - IT -

05889080635

General Partner

-

Ceased

GEA DI GIOVANNI LETTIERI E C. S.A.S.

Napoli (NA) - IT -

05889080635

Limited Partner

Dismiss

Ceased

I M A T E S S I L E - S.P.A.-

Napoli (NA) - IT -

01418960637

Chairman

Dismiss

Ceased

I M A T E S S I L E - S.P.A.-

Napoli (NA) - IT -

01418960637

Sole Director

Dismiss

Ceased

I M A T E S S I L E - S.P.A.-

Napoli (NA) - IT -

01418960637

Partner

Dismiss

Ceased

I.M.A.S.T. - DISTRETTO SULL'INGEGNERIA DEI MATERIALI POLIMERICI E COMPOSITI E S

Napoli (NA) - IT -

04695971210

Director

Dismiss

Registered

IMMOBILIARE PELLEZZANO S.R.L.

Salerno (SA) - IT -

04158570657

Sole Director

-

Ceased

INVESTIMENTI E SVILUPPO MEDITERRANEO S.P.A.

Napoli (NA) - IT -

05750851213

Managing Director

Active

Registered

INVESTIMENTI E SVILUPPO MEDITERRANEO S.P.A.

Napoli (NA) - IT -

05750851213

Board Chairman

Active

Registered

LE COTONIERE S.P.A..

Salerno (SA) - IT -

03846770653

Sole Director

Dismiss

Ceased

LE COTONIERE S.P.A..

Salerno (SA) - IT -

03846770653

Board Chairman

-

Ceased

LE MANIFATTURE S.R.L.

Salerno (SA) - IT -

07836870639

Sole Director

Dismiss

Registered

MCM HOLDING S.P.A.

Napoli (NA) - IT -

06535240631

Chairman

Dismiss

Registered

MCM HOLDING S.P.A.

Napoli (NA) - IT -

06535240631

Board Chairman

Active

Registered

MCM MANIFATTURE COTONIERE S.P.A.

Salerno (SA) - IT -

02811960653

Managing Director

Dismiss

Registered

MCM MANIFATTURE COTONIERE S.P.A.

Salerno (SA) - IT -

02811960653

Sole Director

Active

Registered

MCM MANIFATTURE COTONIERE S.P.A.

Salerno (SA) - IT -

02811960653

Board Chairman

Dismiss

Registered

MEDFISH S.P.A.

Gaeta (LT) - IT -

01556930590

Director

Dismiss

Registered

MEDFISH S.P.A.

Gaeta (LT) - IT -

01556930590

Board Chairman

Dismiss

Registered

RICERCHE E STUDI S.R.L.

Avellino (AV) - IT -

01774930646

Director

Dismiss

Registered

SALERNO INVEST - LE COTONIERE S.R.L.

Salerno (SA) - IT -

04011310655

Board Chairman

Active

Registered

START HOLDING DI PARTECIPAZIONI S.R.L.

Milano (MI) - IT -

05664810966

Director

Active

Registered

START HOLDING DI PARTECIPAZIONI S.R.L.

Milano (MI) - IT -

05664810966

Board Chairman

Active

Registered

STOA' ISTITUTO DI STUDI PER LA DIREZIONEE GESTIONE DI IMPRESA SOCIETA' CONSORTI

Ercolano (NA) - IT -

05452210635

Director

Active

Registered

UN.I.SERVICE SRL

Napoli (NA) - IT -

05811200632

Director

Active

Registered

UN.I.SERVICE SRL

Napoli (NA) - IT -

05811200632

Board Chairman

Active

Registered

UNISERVIZI S.R.L.

Napoli (NA) - IT -

05518941215

Director

Active

Registered

VETEX S.R.L. IN LIQUIDAZIONE

Salerno (SA) - IT -

02557030281

Sole Director

Active

Registered

VETEX S.R.L. IN LIQUIDAZIONE

Salerno (SA) - IT -

02557030281

Attorney

Active

Registered

 

The indication "REGISTERED" as Firm Status could refere to Firms in Liquidation, Active, Inactive, etc.

For more information, in this case, we advise to request further investigations.

 

 

CAPITAL SHAREHOLDERS

 

Style / Name

Seat / Address

Fiscal Code

Owned Shares

% of Ownership

Mcm Holding S.p.a.

Napoli - IT -

06535240631

 

100,00

 

 

DIRECT PARTICIPATIONS

 

Company Style

Legal Seat

Fiscal Code

Owned Shares

% of Ownership

Share Status

Novaceta Energia S.r.l.

Magenta - IT -

05827610964

10.000 .Eur

100,00

Active

 

 

STRUCTURE AND COMPANY ACTIVITY

 

In order to carry out its activities the firm uses the following locations:

 

-Legal and operative seat    in :

 

Viale Piemonte , 66   - 20013 – Magenta (MI) - IT -

 

- Branch (Factory ) since 04/04/2007 in :

 

 

Viale Piemonte , 66 - 20013 – Magenta (MI)- IT -

 

PHONE             : 0445/314252

 

FAX                  : 0445/314345

Employees        : 280

 

Active partners  : 1

 

 

CREDIT REVOLVING

 

During last Year, the subject of inquiry has not been monitored by our company.

 

 

PROTESTS

 

Protests checking on the subject firm has given a negative result.

 

 

LEGAL PROCEDURES

 

None reported, standing to the last received edition of the Official Publications.

 

 

IMMOVABLES

 

*No specific (mortgage/cadastrial registrations) inspections have been requested.

 

None reported in the name of the Firm.

 

 

FINANCIAL AND ECONOMICAL ANALYSIS

 

The subject's early starting does not allow any expression in credit opinion. We believe that further developments are necessary to appreciate the situation. in view of the present situation we have no important elements as regards subject's paying habits. Business relationships with its own suppliers have to be verified.

 

 

FURTHER INFORMATION

 

Even though the company under review has been established in 2007, we have to stress that its origins go back to 1954 when a Novaceta SpA (nowadays BambergCell) was set up. At that time the company was held by Acordis (50%) and Snia (50%). During 2003/2004 a reorganization plan led to the set up of the indusrial pole

Bemberg which was made up of 3 factories. Starting from this period the company accused financial difficulties, which caused  company's winding up. To avoid the bankruptcy the production has been transferred to the new established company NOVACETA SRL (the company under review). According to the a.m. facts, we suggest to wait for further developments before starting business transactions on credit basis.

 

 

CREDIT OPINION

 

Considering the above mentioned explained situation we advise to follow closely subjects developments.

SOURCES

 

- Our historical data

- Public Administration

- Reporters

- Newspapers

- Users

- Statistics Bodies

- Financial Project Editions

 

N.B.: Data from the Public Administration present in the report are updated since the last available edition.

 

 

MARKET / TERRITORY DATA

 

Population living in the province    : 3.839.216

Population living in the region                  : 9.393.092

Number of families in the region    : 3.858.736

 

Monthly family expences average in the region (in Eur.) :

 

- per food products                                 : 460

- per non food products                           : 2.090

- per energy consume                             : 114

 

 

SECTOR DATA

 

The values are calculated on a base of 687 significant companies.

 

The companies cash their credits on an average of 124 dd.

The average duration of suppliers debts is about 130 dd.

The sector's profitability is on an average of 2,18%.

The labour cost affects the turnover in the measure of 13,67%.Goods are held in stock in a range of 67 dd.

The difference between the sales volume and the resources used to realize it is about 1,12.

The employees costs represent the 13,86% of the production costs.

 

 

STATISTICAL DETRIMENTAL DATA

 

Statistically the trade activity passes through serious crises.

The area is statistically considered lowly risky.

In the region 50.886 protested subjects are found; in the province they count to 24.765.

The insolvency index for the region is 0,55, while for the province it is 0,66.

Total Bankrupt companies in the province : 22.523.

Total Bankrupt companies in the region : 39.612.

 

 


 

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

 

 

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%)

 

 

 

 

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