MIRA
INFORM REPORT
|
Report Date : |
29.12.2007 |
IDENTIFICATION
DETAILS
|
Name : |
CURTUME VIPOSA S/A. INDÚSTRIA E COMÉRCIO |
|
|
|
|
Registered Office : |
Rua Drº Moacir Sampaio, 532 – Berger, 89500-000 Caçador / SC |
|
|
|
|
Country : |
Brazil |
|
|
|
|
Financials (as on) : |
30-09-2007 |
|
|
|
|
Date of Incorporation : |
August 25, 1954 |
|
|
|
|
Com. Reg. No.: |
42.300.007.471 |
|
|
|
|
Legal Form : |
Joint Stock Corporation (Closed Capital) |
|
|
|
|
Line of Business : |
Tanning |
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 : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
Company name
CURTUME VIPOSA S/A. INDÚSTRIA E COMÉRCIO
Trade Name
VIPOSA
Economical Group
ELIAS SELEME
Address
Rua Drº Moacir Sampaio, 532 - Berger
89500-000 Caçador / SC - Brasil
Phone: (55-49)
3563 0157 / 3561 1000 / 3561 1001
Fax: (55-49)
3563 0040
E-mail: viposa@viposa.com.br
Web Site: www.viposa.com.br
Legal information
Legal Status: Joint Stock Corporation (Closed Capital)
Incorporation date: August 25, 1954
Register number #: 42.300.007.471
Tax contributor (CNPJ): 83.054.437/0001-35
Registered Capital: R$25.000.000,00
State Registration #: 250.006.065
Number of employees: 942
Branches: 08
History
Established on August 25, 1954, chartered at the State Commerce Registration Office of Santa Catarina (JUCESC) under # 42.300.007.471, as Indústria e Comercio Berger S/A. On March 30, 1974 the company changed into Viposa S/A Indústria e Comércio. On April 29, 1978 the subject adopted the present registered name.
Shareholders/Partnership:
Agropecuária Seleme Ltda. (Joined 07/1974) - 43,0%
Brazil,
CNPJ:079.238.770/0001-27
Elias Seleme Neto (Joined 07/1974) - 38,0%
Brazilian,
CPF:003.360.259-04
Marcelo Seleme (Joined 04/1978) -
9,5%
Brazilian,
CPF:444.279.309-30
Eduardo Seleme (Joined 04/1978) -
9,5%
Brazilian,
CPF:533.765.449-72
Management:
(Joined 04/2007 up to 04/2008)
Elias Seleme Neto - President Director
Brazilian,
Widower, CPF:003.360.259-04
Marcelo Seleme - Director Superintendente
Brazilian,
Widower, CPF:444.279.309-30
Eduardo Seleme -
Director
Brazilian,
Married, CPF:533.765.449-72
Giorge Olavo Gavioli - Director
Brazilian,
Married, CPF:021.378.289-87
Valdir Geraldo Pacheco - Director
Brazilian, Married, CPF:009.897.899-34
Properties
The company possesses properties in the total value of R$4.586.000,00.
Registered line of business:
Tanning
Marketed marks:
VIPOSA.
Import countries:
Not informed.
Export countries:
Holanda.
Purchases:
98% - Domestic market
02% - International market
Sales:
60% - Domestic market
Related Companies
Stock participation:
SELEME MATERIAIS DE CONSTRUÇÃO LTDA. - CNPJ:83.083.584/0001-33
- Elias Seleme Neto - 14,5%
CONSTRUTORA SELEME LTDA. - CNPJ:83.218.743/0001-60
- Elias Seleme Neto - 14,5%
AGROPECUÁRIA SELEME LTDA. -
CNPJ:79.238.770/0001-27
- Elias Seleme Neto - 98,0%
MADEIREIRA SELEME LTDA. - CNPJ:78.267.721/0001-50
- Elias Seleme Neto - 45,0%
- Agropecuária Seleme Ltda. - 0,5%
TRANSPORTADORA FLORENÇA LTDA. - CNPJ:06.241.496/0001-71
- Marcelo Seleme - 20,0%
- Eduardo Seleme - 20,0%
CURTUME BLUBRAS LTDA. - CNPJ:04.778.904/0001-01
- Agropecuária Seleme Ltda. - 17,2%
- Elias Seleme Neto - 15,2%
- Marcelo Seleme - 3,8%
- Eduardo Seleme - 3,8%
Financial Data
The following financial statement was obtained through outside sources consulted.
Quarterly balance sheet as of 30/09/2007 –
US$1.00 = R$1,839
Balance sheet information for fiscal year
ending:
31/12/2006 – US$1.00 = R$2,138
31/12/2005 – US$1.00 = R$2,341
Figures are in (Thousands of) Reais R$:
Assets
|
09/2007 |
2006 |
2005 |
|
Current Assets |
51.834 |
48.963 |
35.770 |
|
Inventory |
22.747 |
13.810 |
6.421 |
Other Assets
|
29.087 |
35.153 |
29.349 |
Long Term Assets
|
9.665 |
2.600 |
3.814 |
Fixed Assets
|
28.021 |
23.666 |
21.338 |
Investment
|
2.457 |
614 |
114 |
|
Immovable |
25.564 |
23.052 |
21.224 |
Total Assets
|
89.520 |
75.229 |
60.922 |
Liabilities
|
09/2007 |
2006 |
2005 |
Current Liabilities
|
44.690 |
32.120 |
23.066 |
|
Suppliers |
8.726 |
4.339 |
2.734 |
Other liabilities
|
35.964 |
27.781 |
20.332 |
Long Term Liabilities
|
2.758 |
3.515 |
2.341 |
Net Equity
|
41.802 |
39.594 |
35.515 |
Capital
|
25.000 |
25.000 |
25.000 |
Reserves
|
608 |
482 |
278 |
Accumulated Profit (Loss)
|
16.194 |
14.112 |
10.237 |
Total Liabilities
|
89.520 |
75.229 |
60.922 |
Income Statement
|
09/2007 |
2006 |
2005 |
Annual Net Sales
|
104.277 |
122.558 |
99.184 |
Gross Income
|
17.415 |
23.449 |
21.038 |
Operating Income
|
3.337 |
5.158 |
6.427 |
Net Income
|
2.206 |
4.080 |
1.002 |
Financial Analysis
|
09/2007 |
2006 |
2005 |
Current Ratio
|
1,15 |
1,52 |
1,55 |
Current Debt Ratio
|
1,07 |
0,81 |
0,64 |
Total Debt Ratio
|
2,14 |
1,90 |
1,71 |
Working Capital
|
$6.874 |
$16.843 |
$12.704 |
Dollar rate US$1.00 = R$1,767
Banking
Banco Itaú S/A. -
branch - 0626
Banco Brasdesco S/A. - branch -
3491
Banco do Brasil S/A. - branch
- 3751
HSBC Bank Brasil S/A. - branch – 0129
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.
1.035 – Invoices:
Information on purchases:
DEC/2007 Last: R$473 Average: R$2.041
Information on invoicing:
MAY/2007 Highest: R$23.725 Average: R$3.740
Information on accumulation:
APR/2007 Highest: R$162.597 Average: R$8.776
99% - Prompt payments
01% - Delays from 08 up to 15 days
Trade References
Main
Suppliers:
JBS S/A.
Basf S/A.
Clariant S/A.
Frigorífico Matupa Ltda.
Franco Fabril Alimentos Ltda.
Curtume Araputanga S/A - CURTUARA
Main clients:
Daiby S/A.
Fandreis Calçados Ltda.
Bermas Indústria e Comércio Ltda.
Braspelco Indústria e Comércio Ltda.
Main clients Abroad:
Emma Veiligheidsschoenen - Holanda
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
The company can be considered normal for business dealings at usual
trade terms and conditions.
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%)