MIRA
INFORM REPORT
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Report Date : |
3rd
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
LEMAN
COMMODITIES SA |
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Registered Office : |
Rue Vallin 2, 1201 Geneve/GE, Switzerland |
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Country : |
Switzerland |
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Date of Incorporation : |
04.04.1997 |
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Legal Form : |
Joint stock company |
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Line of Business : |
Tradeing in steel, mainly from Ukrainian mills. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
EUR 500.000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Overall
assessment: |
250 |
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Business connections are
permissible |
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Detail assessment:
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Payments: |
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Regular |
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Individual credit
limit*: |
EUR 500.000,-- |
* individual credit limit is to
be understood as the highest possible engagement for a supplier delivering
goods or rendering services on open
terms with an average respite of 60 days.
Company Name & Address
Name :
Leman Commodities SA
Line of Business :
Commerce d'aciers
Legal domicile :
Rue Vallin 2, 1201 Geneve/GE, Switzerland
Telephone :
022 9061828
Fax :
022 9061829
Homepage :
http://lemanglobal.com
E-Mail :
info@lemanglobal.com
All amounts in this report are given in
Swiss Francs (CHF) unless otherwise stated.
GENERAL COMPANY DATA
OFFICIAL DATA
Legal form :
Joint stock company
Registration : 04-04-1997
First Publication : 18-04-1997
Last Publication : 29-03-2006
Share capital : 50.000.000
Paid up :
50.000.000
Divided into : 50.000 Registered shares of 1.000
History :
23-01-2006 50.000.000 Capital
increase
29-07-2002 7.500.000 Capital increase
100.000 Capital by incorporation
Direct Parent com. : Metinvest BV,
Amsterdam, Netherlands/NL with a share of 100.
Company Management : Felix Blitshteyn
Patrick Gnos (Finances)
ACTIVITY
Activity:
Leman Commodities SA is devoted to the
trade in steel, mainly from Ukrainian mills.
The Company has exclusive export
agreements with major Ukrainian mills, such as Azovstal and Enakievo.
Major trading markets of Leman Commodities
are the Middle and Far East, Africa, Europe and the Americas.
Sales growth over the past few years in
metric tonnes:
2005: 9'569'256
2004: 9'631'561
2003: 6'709'700
2002: 4'998'301
2001: 5'142'278
2000: 4'583'577
Products
Leman Commodities SA supplies the
following groups of products:
- Iron Ore
- Pig Iron
- Slabs
- Billets
- Rebars
- Wire rods
- Rails
- Profiles
- Plates
- Coils
- Structurals
- Oil and gas line pipes
Locations
In addition to Geneva Leman Commodities
has representative offices in onetsk/Ukraine, Moscow/Russia, Istanbul/Turkey,
Beyrouth/Lebanon, eijing/China, Shanghai/China, Singapore,
Santo Domingo/Dominican epublic, Belgrade/Serbia and Montenegro, Teheran/Iran,
Vilnius/Lithuania, Abuja/Nigeria, Assago/Italy, Atmaty/Kazakhstan, Ashkhabad/Turkmenistan and Khartoum/Sudan.
EMPLOYEES
Number of employees: 45
PAYMENT AND FINANCIAL DATA
PAYMENT EXPERIENCES
Legal actions: No legal actions,
distraints or loss certificates registered.
Report from 13-11-2003, in 1200 Geneve.
Report from 04-08-2003, in 1200 Geneve.
Report from 30-01-2003, in 1200 Geneve.
A current check of the legal actions
requires a document of justification with a legitimate signature.
There are no complaints about the mode of
payment and business conduct.
FINANCIAL DATA
Financial position : The financial affairs are considered good and in order.
Key figures (in USD 1.000):
31.12.2006 31.12.2004 31.12.2003 31.12.2002
Sales 3'467'945.5 3'843'964.0
1'805'479.0 1'021'245.5
Leman Commodities SA is now the largest
exporter of steel products from Ikraine with annual sales in excess of
3'800'000'000 US Dollars.
In 2004 alone, Leman Commodities SA
exported in excess of 11.1 million metric tons of steel.
Banker(-s)
UBS Ltd, 1200 Geneve
Credit Suisse (CS), 1200 Geneve
BNP Paribas (Suisse) SA, Geneve
Auditors
BDO International SA, Geneve
Premises
The premises at the above mentioned
address are rented.
Fiscal taxation
No information is available due to the
local tax authority regulation.
COMPANY AND PERSON RELATIONS
COMPANY CONNECTIONS
Direct Parent com.: Metinvest BV, Amsterdam, Netherlands/NL
with a share of 100.
In October 2005, Lean Commodities SA was
acquired by the Dutch company METINVEST BV, which in turn is fully owned by
SYSTEM CAPITAL MANAGEMENT (SCM), based in Donetsk (Ukraine).
Founded in 2000, the company SCM is a
major industrial holding, which plays a vital role in econmoics in the Ukraine
and Eastern Europe.
The SCM Group directly and indirectly
controls more than 90 companies with activities in steel and coal, power
production and distribution, insurance and banking, food and beverages catering
and gastronomy services.
In addition SCM is also major sponsor of
the football club "FC Shakhtar", which regularly participates in UEFA
Cup and the Champions League.
BOARD OF DIRECTORS
Felix Blitshteyn, from StA der USA, in
Cologny/GE/Switzerland,
President, sole signature.
Patrick Gnos, from
Isenthal, in
Geneve/GE/Switzerland,
Member, sole signature.
Joseph Eric Riedweg, from
Geneve, in
Confignon/GE/Switzerland,
Member, sole signature.
PERSONNEL INFORMATION
Felix Blitshteyn, born on the 22 July
1970, is domiciled at the address route de la Capite 49C in 1223 Cologny.
Joseph Eric Riedweg, born on the 31
January 1949, is a certified accountant by profession. In addition he is the
founder and sole board member with individual signature of Audiconsult SA, at
the address Rue du Cendrier 15 in Geneva. He features on the board of more than
40 companies.
FURTHER MANDATES
Patrick Gnos:
- ADC Aclens Distribution Center SA, Aclens
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/normal. |
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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