MIRA
INFORM REPORT
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Report Date : |
07.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
THE WIRE MESH
BELT COMPANY OF CANADA LIMITED |
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Registered Office : |
170 Summerlea
Road, Brampton, ON, L6T 4X3 |
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Country : |
Canada |
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Date of Incorporation : |
1966 |
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Legal Form : |
Limited Company |
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Line of Business : |
Engaged as a manufacturer and supplier of metal conveyor belts and
related products. |
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: THE WIRE MESH BELT
COMPANY OF CANADA LIMITED
Trade Name:
Address: 170
SUMMERLEA ROAD
City: BRAMPTON
State/Province: ON
Zip Code: L6T 4X3
Country: CANADA
Telephone: 905-791-5400
Facsimile: 905-791-5481
URL www.wiremeshbelt.com
Legal Form: Limited Company
Founded (D/M/Y): 1966
Sales / Revenue: -
Net Income:
Total Equity:
Number of
Employees: 40
Shareholder:
Business Activity: The Subject is engaged as
a manufacturer and supplier of metal conveyor belts
and
related products. Distribution is throughout Canada and the United States.
NOTE TO CLIENT
NOTE: The correct
legal name of the Subject located at the provided address is: THE WIRE MESH BELT
COMPANY OF CANADA LIMITED, not WIRE MESH BELT CO. LTD.
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Mr. Silvio
Guglietti, Director, provided the following information in this report.
LEGAL
Legal Form: Limited
Company
Incorporation
State ON
Status: ACTIVE
Since (D/M/Y): 04/10/1966
The company is NOT
required to publish an annual financial report.
ONTARIO CORPORATE REGISTRY:
THE WIRE MESH BELT COMPANY OF CANADA LIMITED
Registration Number: 00153845
Registration Date: 10/4/1966
Status: Active
MANAGERS / KEY PERSONNEL
Mr. Silvio
Guglietti Director
Mr. Peter Van
Noort President
Mr. Ron Van Noort Director
Mr. Tony
Quattrochioci Vice
President
AFFILIATED COMPANIES
Management reports
no affiliates or subsidiaries.
BANKS
Bank of Montreal
State/Province: ON
Country: CANADA
The above bank
requires an account number and signed authorization which Management declined
to provide.
PAYMENT HISTORY
TRADE ITEMS
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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
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Retail-Establishment:
*Dec 0 1,200 156 156 0 0 0
GENERAL MOTORS CORP: DLA-2007/11/19 2,546, Merged accts #
*Dec Dec/2006 0 91,670 53,608 53,608 0 0 0
WASTE MANAGEMENT: 905-595-3330
*Nov 0 474 474 243 231 0 0
Manufacturing Indust:
*Nov 0 5,107 5,107 5,107 0 0 0
DE LAGE LANDEN FIN: 905-465-3160
*Nov 0 17,358 1,012 1,012 0 0 0
Mfr-Wood Products:
*Oct 0 10,229 6,926 2,563 4,363 0 0
Mfr Fabricated Metal:
*Oct 0 10,193 10,193 10,193 0 0 0
Retail-Bldg/Hardware:
*Oct 0 291 291 291 0 0 0
Transportation Serv:
*Oct 0 203 203 203 0 0 0
MCCORDICK GLOVE INC: 519-623-9710
*Oct 0 649 42 42 0 0 0
Mfr-Primary Metal:
*Oct 0 4,724 3,859 3,859 0 0 0
------- ------- ------- ------- ------- -------
P.I. = 5 90 Days 142K 81,871 77,277 4,594 0 0
Reported ------- ------- ------- ------- ------- -------
Whlsl-Ind Mach Sppls:
*Aug 0 319 319 319 0 0 0
Transportation Serv: Merged accts
*Aug 0 253 253 253 0 0 0
Transportation Serv:
*Jul 0 310 310 310 0 0 0
Business Services:
*Jun 0 3,475 3,475 3,475 0 0 0
Whlsl Ferrs Nonferrs:
*Jun 0 5,000 919 0 919 0 0
Whlsl-Constr/Mine Eq:
*May 0 546 546 546 0 0 0
Retail-Bldg/Hardware:
*Mar 0 256 256 0 29 0 227
Transportation Serv:
*Jan 0 49 49 49 0 0 0
------- ------- ------- ------- ------- -------
P.I.. = 6 Total 152K 87,998 82,229 5,542 0 227
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 7 3 11 65,990 64,766 1,224 0 0
2 Qtr/2007 10 3 11 92,258 84,384 7,874 0 0
1 Qtr/2007 15 3 9 77,347 76,434 407 279 227
4 Qtr/2006 4 15 6 5,477 5,205 272 0 0
3 Qtr/2006 58 13 11 20,180 13,924 271 0 5,985
2 Qtr/2006 36 8 11 31,693 24,652 1,056 5,985 0
1 Qtr/2006 22 12 4 33,344 32,789 555 0 0
4 Qtr/2005 7 5 6 2,651 2,155 496 0 0
3 Qtr/2005 4 11 9 4,823 4,332 491 0 0
FINANCIAL INFORMATION
Management
declined to provide any financial information and outside sources could not
provide any insight into the financial condition of the Subject.
Please note that as
a privately-held company, the Subject is not required to disclose financial
statements for public review.
CURRENT OPERATIONS
SIC Code:
NAICS Code: 3332
Industrial
Machinery Manufacturing
Number of
Employees: 40
Business Activity:
The Subject is
engaged as a manufacturer and supplier of metal conveyor belts and related products. Distribution is throughout
Canada and the United States.
The headquarters
and sole location is at the heading address.
PUBLIC RECORD
A Nationwide search of public and bankruptcy courts revealed no Uniform Commercial Codes, tax liens, legal actions or bankruptcy filings under the Subject's name.
COMMENTS
The Subject is engaged as a well-established manufacturer and supplier of metal conveyor
belts and related products.
Payment records are considered to be generally
satisfactory and a search of public records and
bankruptcy courts returned no derogatory information or record of the Company filing a bankruptcy petition.
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%)