MIRA INFORM REPORT

 

 

Report Date :

11.12.2007

 

IDENTIFICATION DETAILS

 

Name :

DI MARTINO INDUSTRIAS METALURGICAS LTDA.

 

 

Registered Office :

Rua Diamante Preto, 100 – Tatuapé, 03405-000 – São Paulo / SP

 

 

Country :

Brazil

 

 

Financials (as on) :

31.12.2005

 

 

Date of Incorporation :

December 21, 1951

 

 

Com. Reg. No.:

35.200.842.276

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Industry of wires of iron and steel.

 

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


Company name

 

DI MARTINO INDUSTRIAS METALURGICAS LTDA.

 

 

Trade Name

 

AÇO DI MARTINO

 

 

Address

 

Rua Diamante Preto, 100 – Tatuapé

03405-000 – São Paulo / SP - Brasil

Phone:              (55-11) 2293 0646 / 2293 1192 / 2294 3622

E-mail:              dimartino@dimartino.com.br

Web Site:          www.dimartino.com.br

 

 

Legal information

 

Legal Status:                             Private Limited Company

Incorporation date:                     December 21, 1951

Register number #:                     35.200.842.276

Tax contributor (CNPJ):              60.863.818/0001-60

Registered Capital:                     R$3.000.000,00

State Registration #:                  100.438.104.113

Number of employees:                123

Branches:                                 02

 

 

History

 

Established on December 21, 1951, chartered at the State Commerce Registration Office of São Paulo (JUCESP) under # 35.200.842.276, as Indústria de Artefatos de Arame e Giusti Ltda. On November 01, 1988 the company changed into Di Martino e Giusti Industrias Metalurgicas Ltda. On August 18, 1998 the subject adopted the present registered name.

 

Partnership / Management:

Biagio Di Martino                                   (11/1972)           - 90,0%

Italian, married, CPF: 026.099.838-91

Ivone Paganini Di Martino            (04/1977)                       - 10,0%

Brazilian, married, CPF: 088.963.198-03

 

 

Properties

 

Not informed.

 

 

Registered line of business

 

Industry of wires of iron and steel.

 

 

Import countries

 

Not informed.

 

 

Export countries

 

Not informed.

 

Purchases:

90% - Domestic market

10% - International market

 

Sales:

98% - Domestic market

02% - International market

 

 

Related Companies

 

Stock participation:

 

Not informed.

 

 

Financial Data

 

According to the Brazilian Law Private Limited Companies are not obliged to file financial accounts for public inspection.

 

The following financial statement was obtained through outside sources consulted.

 

Balance sheet information for fiscal year ending:

 

31/12/2005 – US$1.00 = R$2,341

31/12/2004 – US$1.00 = R$2,654

 

Figures are in (Thousands of) Reais R$:

 

Assets

2005

2004

Current Assets

12.496

8.157

Inventory

6.512

4.937

Other Assets

5.984

3.220

Fixed Assets

4.963

6.780

Investment

0

0

Immovable

4.963

6.780

Total Assets

17.459

14.937

 

Liabilities

2005

2004

Current Liabilities

1.213

1.070

Suppliers

316

123

Other liabilities

897

947

Net Equity

16.246

13.867

Capital

3.000

3.000

Reserves

1.350

1.350

Accumulated Profit (Loss)

11.896

9.517

Total Liabilities

17.459

14.937

 

Income Statement

2005

2004

Annual Net Sales

26.607

25.498

Gross Income

8.632

8.894

Operating Income

5.074

5.753

Net Income

4.030

4.809

 

Financial Analysis

2004

2004

Current Ratio

10,30

7,62

Current Debt Ratio

0,07

0,00

Total Debt Ratio

1,07

1,07

Working Capital

$11.283

$7.087

 

 (Dollar rate US$1.00 = R$1,746 on 01/11/2007).

 

Remark: It was not possible to find the update financial statement through outside sources consulted.

 

 

Banking

 

Banco Bradesco S/A.                             - branch - 0298

Banco do Brasil S/A.                              - branch – 1192

Banco do Estado de São Paulo S/A.       - branch - 0150

 

Remark : banking comments could not be obtained due to legal restrictions from the Brazilian Law.

 

No returned checks were found either in the name of the company or partners.

 

 

Insurance

 

Not informed.

 

Payment information

 

*Information obtained from outside sources and public consulted.

 

121 – Invoices:

 

Information on purchases:

OCT/2007              Last:                 R$640                       Average:                R$804

 

Information on invoicing:

DEC/2006              Highest:            R$5.362                    Average:                R$1.469

 

Information on accumulation:

DEC/2006              Highest:            R$7.564                    Average:                R$1.453

 

99% - Prompt payments

01% - Delays from 08 up to 15 days

 

 

Trade References

 

Main Suppliers:

Filizola Balanças Industriais S/A

Brasília Máquinas e Ferramentas Ltda.

Etil Comércio e de Material Eletrico Ltda.

Lincoln Electric do Brasil Industria e Comercio Ltda.

General Brands do Brasil Indústria e Comércio de Produtos Alimentícios

 

Main clients:

Not informed.

 

 

Public Records Information

 

No negative information was found.

 

 

Remarks

 

The information in this report were obtained from outside sources and public records consulted.

 

 

Final Opinion

 

By virtue of the lack of updated financial data, we don't have concrete base to base our opinion in order to do credit rating.

 

 

 

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.

 

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