MIRA
INFORM REPORT
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Report Date : |
11.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
ATLAS
STEEL NEW ZEALAND |
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Registered Office : |
65
Seaview Road, Seaview, P.O. Box 30-020, Lower Hutt |
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Country : |
New
Zealand |
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Date of Incorporation : |
07.11.2001 |
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Legal Form : |
Public Company, Limited By Shares |
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Line of Business : |
Supplier
of special metals for the Australian war effort. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Fair |
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
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REGISTERED NAME: |
ATLAS STEEL NEW ZEALAND |
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REGISTERED NUMBER: |
28136 |
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OPERATING ADDRESS: |
65 Seaview
Road, Seaview P.O. Box
30-020, Lower Hutt |
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REGISTERED ADDRESS: |
Not
registered |
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OTHER TRADING NAMES: |
Nil |
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TELEPHONE NUMBER: |
(03)
477 2793 |
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FAX NUMBER: |
(03)
477 1383 |
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WEB SITE ADDRESS: |
www.atlasmetals.com.au |
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DATE OF INCORPORATION: |
Not
registered |
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CHANGE OF NAME: |
-- |
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PAID CAPITAL: |
-- |
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DIRECTORS: |
See
below |
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SHAREHOLDERS: |
Refer HISTORY |
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SECRETARY: |
Unknown
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AUDITORS: |
Not
shown |
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PAYMENTS: |
Refer TRADING |
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LEGAL ACTIONS / DEFAULTS: |
Nil |
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EMPLOYEES: |
The
number of employs have not been ascertained. |
ACTIVITIES
The
subject in New Zealand is part of Atlas Group Holdings, an Australian based
company.
Atlas stainless and specialty metals
Atlas Specialty
Metals is synonymous with stainless and specialty metals and traces its
heritage to Canada where the company began the manufacture of special metals in
1918. In 1939, the company then known as Atlas Steels, was established in
Australia as a supplier of special metals for the Australian war effort. More
than 60 years later, Atlas is a fully Australian owned company and still leads
the way in stainless and selected specialty metals with a distribution
warehousing and metal processing network that encompasses 22 major cities and
towns across Australia and New Zealand.
Diversity of product
Atlas
Specialty Metals stocks a complete range of stainless steel, aluminium,
engineering steel bar and carbon tube, pipe and fittings.
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Atlas' expertise services the key industrial and resources markets of: |
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Oil &
gas (on and off shore) Pulp &
paper manufacturing Energy
generation Water &
waste control Pharmaceutical
processing Major
construction |
Food &
beverage production Petrochemical
processing Mining Minerals
processing Transportation Defence |
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Atlas Specialty Metals has five distribution and processing centres located in New Zealand: Auckland, Christchurch, Wellington, Dunedin and Hamilton.
Wellington
operations:
65 Seaview
Road
Seaview
P.O. Box
30-020
Lower Hutt
Telephone: 64
3477 2793
Facsimile: 64
4 3477 1383
Email: nzsales@atlasmetals.com.au
Southward
Engineering Tube Mills
2-3 Port Road
Seaview, Lower
Hutt
P.O. Box
36-036
Moera, Lower
Hutt
Telephone: 64
4568 4079
Facsimile: 64
4568 4034
HISTORY
A search
conducted with the New Zealand Companies Office has failed to trace the name,
Atlas Steels New Zealand, as being registered.
The subject is
part of Atlas Group Holdings Limited.
Atlas Group Holdings Limited was incorporated in Victoria on 7 November 2001 as Soncave Pty Limited, changing name to AB Steel Holdings Pty Limited, changing name to Atlas Steels Group Pty Limited, changing name to Atlas Steels Group Limited and subsequently adopting the present name, being an Australian Public Company, Limited By Shares. Australian Company Number: 098 674 545. Australian Business Number: 22 098 674 545.
Atlas
Specialty Metals traces its roots to the stainless and specialty steels
manufacturer, Atlas Steels, Canada. This company first became associated with
Australian industry in 1939 as a major supplier of specialty steels for the
Australian war effort. After the war the company remained in Australia. From
Canada they continued to supply stainless and specialty steels in sheet, coil,
plate and bar primarily through appointed steel distributors.
In 1962, Atlas
established its own distribution warehouse and a wire drawing mill at Altona
North, Melbourne. From this beginning the company has grown to 22 sites across
Australia and New Zealand.
The mill
continues today as the only commercial manufacturer of high-speed steel wire,
stainless steel wire and specialised bar in the region.
In 1987, Atlas
Steels (Australia) Pty Limited as it was then known, was publicly listed on the
Stock Exchange of Melbourne. At this time, the steel manufacturing and
distribution operations of Atlas and the Martin Bright Steels Group were
brought together. This merged entity created the largest stainless and
specialty steels company in Australia and New Zealand. It stocked and processed
all forms of flat, section, and tubular product.
Atlas was
acquired by Email Limited in 1995 and the distribution and manufacturing
operations became a part of the Email Metals Group.
Following the
closure of the BHP cold rolled, stainless steel, flat products mill in
Australia in 1997, a joint venture was formed with Ugine, France. This
enterprise sought to build and operate a flat products processing service
centre in Australia. The successful result was Pacific Stainless Processors
(PSP) which was established in New South Wales.
In 2001, a
consortium of Smorgon-OneSteel, acquired Email. To approve this public
takeover, the Australian Competition and Consumer Commission (ACCC) stipulated
that the consortium had to dispose the Atlas/Bisalloy businesses. Atlas (and
Bisalloy Steels), was subsequently acquired by a newly formed private company,
'AB Steel Holdings Pty Ltd'. Today, this company is known as 'Atlas Group
Holdings Limited'.
Since its inception
in Australia over 60 years ago, Atlas Specialty Metals has grown with the
stainless and specialty steels industry in Australia. It is now the largest
stainless and specialty steels distribution company in Australia. As such, it
services a large and diverse customer base through its network of service
centres and semi-finished product manufacturing operations.
DIRECTORS
Details pertaining to the subject’s directors in New Zealand have not been ascertained.
BANK
Details pertaining to the subject’s banking facilities have not been ascertained.
TRADING
Trade references in relation to the subject have not been obtained.
RECORDED ACTIONS
Nothing
of an adverse nature has been recorded against the subject.
INVESTIGATION
A number of attempts have been made to contact a principal from the subject in January 2007, however on each occasion it has been advised they are unavailable for interview.
Messages have been left requesting they contact this office, however to date a reply has not been received.
Should additional information come to hand this will be sent to you as an addendum to this report.
Enquiries made with trade sources failed to trace any additional information in relation to the subject.
A Land Titles Search has not been undertaken to ascertain what land, if any, stands in the subject’s name. This can be undertaken on request.
CONCLUSION
A search
conducted with the New Zealand Companies Office has failed to trace the name,
Atlas Steels New Zealand as being registered.
The subject is
part of Atlas Group Holdings Limited.
Full details in relation to the company have not been ascertained. However, the subject is part of a very old and well established group operating throughout Australia and New Zealand.
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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