MIRA
INFORM REPORT
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Report Date : |
01.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
OLYMPUS NDT CANADA INC. |
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Registered Office : |
505 Boulevard Du
Parc Technologique, Quebec City, PQ, G1T 4S9 |
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Country : |
Canada |
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Date of Incorporation : |
1989 |
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Legal Form : |
Provincially Chartered Corporation – Private |
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Line of Business : |
The Company designs and manufactures eddy current and ultrasound test systems for manual and automated inspections in nondestructive testing(NDT). |
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 |
IDENTIFICATION & EXECUTIVE
SUMMARY
Company Name: OLYMPUS NDT CANADA INC.
Trade Name: R/D TECH
Address: 505
Boulevard du Parc Technologique
City: QUEBEC
CITY
State/Province: PQ
Zip Code: G1T 4S9
Country: CANADA
Telephone: 418 872-1155
Facsimile: 418 872-5431
URL www.rd-tech.com
Legal Form: Provincially
Chartered Corporation – Private
Founded (D/M/Y): 1989
Sales / Revenue: -
Net Income:
Total Equity:
Number of
Employees: 300
Shareholder:
Business Activity: The Company designs and
manufactures eddy current and ultrasound test
systems
for manual and automated inspections in nondestructive testing(NDT).
NOTE TO CLIENT
Person Attempted
Contact: Ms. Valerie Lavoie, Controller. Several attempts were made to reach
Ms. Lavoie over several days, however, we were unable to speak with her at the
time of this report. We were unable to reach any other officers at the time of
this report. A fax was sent to Ms. Lavoie to verify information for this
report. If we receive a response, we will amend the report accordingly.
No information in
this report could be confirmed by management.
LEGAL
Legal Form: Provincially
Chartered Corporation - Private
Incorporation
State QC
Status: ACTIVE
Previous Legal
Form: Unknown
Since (D/M/Y): 07/03/2005
The company is NOT
required to publish an annual financial report.
The Company is provincially chartered in Quebec under the following registration.
Incorporation Number: 1162829320
Legal Name: OLYMPUS NDT CANADA INC.
Incorporation Date: 3/7/2005
Last Annual Report: 1/31/2007
Location: Quebec
Address: 505, BOULEVARD DU PARC TECHNOLOGIQUE
QUEBEC (QUEBEC) G1P 4S9
Registered Agent: OSLER, HOSKIN & HARCOURT SENCRL/S.R.L.
R/A Address: 1000, RUE DE LA GAUCHETIÈRE OUEST BUREAU 2100
MONTREAL (QUEBEC) H3B 4W5
MANAGERS / KEY PERSONNEL
Mr. Fabrice Cancre President & Chief
Executive Officer
Ms. Valerie Lavoie Controller
AFFILIATED COMPANIES
The following is a
sample of affiliates of the Subject:
Olympus America de
Mexico S.A. de C.V., Mexico, Mexico
Olympus Asian
Pacific Limited, Hong Kong
Olympus Australia
Pty. Ltd., Mount Waverley, Australia
Olympus Austria
GmbH, Vienna, Austria
Olympus C&S
Spol. s.r.o., Prague, Czech Republic
Olympus Danmark
A/S, Albertslund, Denmark
Olympus d.o.o. za
trgovinu, Zagreb, Croatia
Olympus
Endoterapia Sp. z.o.o., Warsaw, Poland
Olympus Europa GmbH
, Hamburg, Germany
Olympus Finland
Oy, antaa, Finland
Olympus France
S.A.S., Rungis, France
Parent Companies
Parent Company: OLYMPUS NDT CORPORATION
Address:
City:
State/Province: MA
Zip Code:
Country: UNITED STATES
Telephone: 81-3-33402111
Ultimate Parent
Company: OLYMPUS CORPORATION
Address: Shinjuku Monolith
2-3-1 Nishi-Shinjuku
City: Tokyo
State/Province:
Zip Code:
Country: JAPAN
Telephone: 81-3-33402111
The following are selected stock price and financial statement information for the ultimate parent company, OLYMPUS CORPORATION, which trades on the Tokyo stock exchange under the symbol 7733.
As of 11/30 in Japanese Yen
Stock Price:
4,540
52 Week High: 5,320
52 Week Low: 3,560
Fiscal Year End: 12/31/2006 in Millions of Japanese Yen:
Net Sales:
978,127
Net Income: 28,564
Total Assets: 976,132
Total Liabilities:
685,476
Total Equity:
290,656
SUBSIDIARIES
The Company has no
known subsidiaries.
BANKS
HSBC BANK CANADA
Address: 2795 BOUL.
LAURIER
City: SAINTE-FOY
State/Province: PQ
Country: CANADA
Telephone: 418 656-6941
Facsimile: 418 656-1874
Account Manager: Bank
rating: R1
Account Number: Open
Since (D/M/Y): 2000
Credit Facility: Low 7 Figures Overdraft Limit: -
Outstanding
Amount: 25% Bank Loans: -
Returned Checks: 0
Average Account
Balance: Fluctuates w/line of
credit
Bank information
was obtained on 10/25/2007
PAYMENT HISTORY
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Supplier's Name/Industry Terms Amount/Pay Habits/Comments
Rptd Open Credit Credit High Total Current Past Due/Pay Period
Date Date Limit Limit Dt. Credit Owing $ 1st 2nd 3rd
------------------------------------------------------------------------------
Wholesale-Elec Equip:
*Nov 0 27,919 27,919 22,209 5,710 0 0
Printer-Commercial:
*Nov 10,000M 1,174 1,174 1,174 0 0 0
Trucking:
*Nov 0 851 851 851 0 0 0
DE LAGE LANDEN FIN: 905-465-3160
*Nov 0 13,741 270 270 0 0 0
Wholesale-Elec Equip:
*Nov 0 91 91 91 0 0 0
Mfr-Pump & Pumping E:
*Oct 0 302 302 302 0 0 0
Mfr-Bolt,Screw,Rivet:
*Oct 0 628 628 239 389 0 0
Services-Computer:
*Oct 0 7,793 7,793 5,637 2,156 0 0
Arrg Transp of Freig:
*Oct 0 25,000 11,462 10,804 658 0 0
Transportation Serv:
*Oct 0 105K 105K 87,027 18,467 187 180
ACKLAND GRAINGER CAN: 905-764-8989
*Oct 0 5,000 223 80 143 0 0
Wholesale-Chemicals:
*Oct 0 150 150 150 0 0 0
FINANCIAL LINX: 416-753-4000 DLA-2007/09/01 490 #
*Oct Nov/2006 0 Oct/2007 33,225 29,654 29,654 0 0 0
Whlsl-Electronic Pts:
*Sep 0 25,170 25,170 20,474 4,696 0 0
Services-Employment:
*Sep 0 3,929 3,929 3,334 0 0 595
Mfr-Sheet Metal:
*Sep 0 8,808 8,808 6,658 2,150 0 0
------- ------- ------- ------- ------- -------
P.I. = 6 90 Days 259K 224K 188K 34,369 187 775
Reported ------- ------- ------- ------- ------- -------
Transportation Serv:
*Jul 0 1,758 1,758 63 130 55 1,510
Transportation Serv:
*Jul 0 94 94 94 0 0 0
Business Services:
*May 0 1,000 714 0 714 0 0
Air Transport:
*Apr 0 47 47 0 47 0 0
Whlsl-Ind Mach Sppls:
*Apr 0 2,572 2,572 1,016 1,556 0 0
Wholesale-Chemicals:
*Apr 0 235 235 235 0 0 0
Mfr-Fabricated Struc:
*Mar 0 521 521 521 0 0 0
Personal Services:
*Mar 0 135 135 0 0 0 135
------- ------- ------- ------- ------- -------
P.I. = 7 Total 266K 230K 190K 36,816 242 2,420
Reported ------- ------- ------- ------- ------- -------
PAYMENT TRENDS
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Payment C.I. Number of Total Current Overdue
Quarters Index Score Suppliers Owing $ 1st 2nd 3rd
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3 Qtr/2007 8 0 15 105,854 92,704 10,990 55 2,105
2 Qtr/2007 8 4 19 173,468 146,599 23,230 958 2,681
1 Qtr/2007 15 0 18 80,893 59,499 20,298 872 224
4 Qtr/2006 13 6 14 161,865 127,278 22,566 9,597 2,424
3 Qtr/2006 23 4 15 161,742 86,430 38,119 33,981 3,212
2 Qtr/2006 10 0 19 120,094 92,006 25,498 296 2,294
1 Qtr/2006 7 0 13 46,491 40,630 4,677 1,113 71
4 Qtr/2005 20 3 17 129,292 87,983 23,538 7,957 9,814
3 Qtr/2005 10 3 19 188,562 148,602 28,789 9,706 1,465
FINANCIAL INFORMATION
Due to our
inability to reach an officer at the Company, we could not obtain financial
statement information at this time. If we receive a response to our fax request,
we will amend the report accordingly.
Outside sources
report net sales to be in excess of CAD 50 Million, however, this could not be
confirmed by management.
CURRENT OPERATIONS
SIC Code: 3823
NAICS Code: 334513
Instruments and
Related Products Manufacturing for Measuring, Dis
Number of Employees: 300
Business Activity:
The Company
designs and manufactures eddy current and ultrasound test systems for manual
and automated inspections in nondestructive testing (NDT).
These systems are
used in the analysis of defects caused by welding, extrusion, and casting, as
well as wear and corrosion.
The Subject's
field of activity includes hydroelectric and thermonuclear power plants, oil refineries,
pipelines, aerospace and automobile industries, and all companies that produce
homogeneous and composite metal structures.
The Company
exports worldwide through its international offices.
The headquarters,
also a manufacturing facility, is at the above-noted address.
The Company has
independent sales representatives located in several countries including:
Belgium, Canada, China, France, Germany, Greece, Italy, India, Japan, Korea,
Slovakia, Sewden, Taiwan, the Netherlands and the United Kingdom.
PUBLIC RECORD
A search of public revealed no derogatory information, bankruptcy petitions or Uniform Commercial Code.
COMMENTS
The Subject founded in Quebec in 1989, is engaged as a manufacturer of ultrasound test systems. The payment record is generally satisfactory and the operating history is clear. No derogatory information or bankruptcy
petitions
were reported or noted. The Company is responsible for normal business transactions.
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. |
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 |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)