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FAMIQ
S.A.
CUIT: 30-53806884-1
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BEGINNER OF ACTIVITIES. IT OPERATES AS SUCH SINCE 1967. BALANCE
SHEET AS OF 31/12/2005: UNBALANCED ECONOMIC-FINANCIAL POSITION WITH
POSITIVE FINAL PROFITABILITY. FIT FOR OPERATIONS OF CURRENT IMPORTANCE
WITH THE ADOPTION OF ADDITIONAL GUARANTEES.
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NACE Rev.1 - 27.10
STAINLESS STEEL PIPES
MANUFACTURE
COMMERCIALIZATION
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Business type: Public Limited Company
Incorporated: 1967
Registered: 24/05/1967
Register #: 1672288
Duration: Until 02/03/2096
End of fiscal year: December 31st
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Mrs. Lorena Cerutti (from Administration Office).
Operative and Administrative address: Avda.San Martín 4719/23, Buenos
Aires City, Argentine
Republic.
Phone: (54-011) 5510-4000
Fax: (54-011) 5510-4040
E-mail: ventas@famiq.com.ar
Annexed Warehouses:
1) Avda.San Martín 4723/51, Buenos Aires City, Argentine Republic.
2)
Blanco Encalada 1752, Florida, Buenos Aires Province, Argentine Republic.
Branches in: Rafaela (Santa Fe), San Miguel de Tucumán (Tucuman), Mendoza
(Mendoza).
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President:
ESPARRICA CARLOS ALBERTO
Vice-president:
ESPARRICA JORGE ALBERTO
Director:
ESPARRICA MARIO ROBERTO
Regular Trustee: VECCHIARELLI OSVALDO D.
Alternant
Trustee: MENDONCA CLAUDIO J.
The
first two mentioned ones are in charge of the management and
administration of the company, with the use of the social signature.
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The company's corporate stock is established in $ 4.100.000 which
has been totally subscribed and paid in. It is represented by the same
quantity of common and registered shares, of nominal value $1,00 each and
with one vote per share.
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ESPARRICA CARLOS ALBERTO:
Argentinian, married, born on 28/10/1910, LE. 6.089.577 (CUIT.
20-06089577-6), with address in
Mercedes 3150, PB, Buenos Aires City.
ESPARRICA JORGE ALBERTO:
Argentinian, married, born on 09/05/1958, DNI. 12.177.519 (CUIT.
20-12277519-5) with address in
Mercedes 3150, Buenos Aires City.
He registers backgrounds through the following companies:
* ERNT S.R.L.
Partner
*
CORCA S.R.L.
Partner
*
SAN CARLOS DE PIROVANO S.A.
President
As of February/2006 he had two debts of $ 86.500 and $ 500 with Banco de
la Nación Argentina and Banco de Galicia y Bs.Aires respectively
(Situation 1=Normal).
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According to our registered data, FAMIQ S.R.L. was incorporated by
mid-1967, who operated until 1999.
In that year this company became a Public Limited Company.
There is no register about its participation in other economic group,
highlighting that one of its directors participate in the mentioned
companies.
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Economic-Financial Position
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With the objective of providing Mr. Subscriber with a description
of the company's economic-financial situation, we expose figures of the
Balance Sheet as of 31/12/2005, which are expressed in pesos an in
comparison with the previously fiscal years.
LIABILITIES:
2005 2004
------------
---- ----
Trade payables
13.711.860,77 7.805.919,29
Bank and Financial payables
17.086.318,93 8.544.853,54
Social payables
200.210,59
431.552,61
Dividends
1.184.715,01 1.525.147,43
Fiscal payables 5.924.144,51
4.495.653,79
Other payables
1.648.077,24
0,00
-----------
-------------
Total Current 39.755.327,05
22.803.126,66
------------- -------------
Payables
2.308.291,11 4.016.093,26
------------- -------------
Total Non-Current
2.308.291,11 4.016.093,26
------------- -------------
Total Liabilities 42.063.618,16
26.819.219,92
------------- -------------
Net Worth
32.416.681,70 23.275.248,88
------------- -------------
LIABILITIES AND NET WORTH 74.480.299,86
50.094.468,80
============= =============
At the end of the last Balance Sheet, it existed an appropriate relation
between current assets and short-term liabilities, although these last
ones overcame the total of own resources. Therefore it had an unbalanced economic-financial
position.
The reached income level overcame the 2004 ones, obtaining finally a very
good final profitability, having therefore a balanced performance.
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Balance
Sheet/s
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31/12/2005
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31/12/2004
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31/12/2003
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Total
Assets
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$ 74.480.299,86
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$ 50.094.468,80
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$ 37.314.066,81
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Current
Assets
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$ 60.376.116,75
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$ 38.387.414,78
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$ 27.696.724,15
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Banks
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$ 5.957.579,82
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$ 4.227.434,02
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$ 2.345.769,90
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Accounts
Receivables
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$ 10.476.975,32
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$ 8.229.426,69
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$ 6.451.311,39
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Inventory
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$ 33.710.497,00
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$ 22.210.286,00
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$ 16.544.342,40
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Fixed
Assets
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$ 13.007.612,04
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$ 11.707.054,02
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$ 9.617.342,66
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Non-Current
Assets
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$ 14.104.183,11
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$ 11.707.054,02
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$ 9.617.342,66
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Investments
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$ 0,00
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$ 5.162,36
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$ 518.236,00
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Total
Liabilities
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$ 42.063.618,16
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$ 26.819.219,92
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$ 22.390.024,54
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Current
Liabilities
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$ 39.755.327,05
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$ 22.803.126,66
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$ 16.784.822,00
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Non-Current
Liabilities
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$ 2.308.291,11
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$ 4.016.093,26
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$ 5.605.202,54
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StockHolders
Equity
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$ 32.416.681,70
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$ 23.275.248,88
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$ 14.924.042,27
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Net
Sales
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$ 101.882.809,76
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$ 80.428.523,14
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$ 44.638.703,22
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Cost
of Good Sold
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$ 72.901.806,98
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$ 59.963.294,34
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$ 32.680.182,22
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Gross
Result
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$ 28.981.002,78
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$ 20.465.228,80
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$ 11.958.521,00
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Administrative
Expenses
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$ 4.276.300,75
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$ 3.367.500,05
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$ 1.648.350,99
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Selling
Expenses
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$ 6.924.890,11
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$ 5.251.434,22
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$ 3.339.781,14
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Financial
Income
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$ 1.295.990,92
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$ 1.197.382,00
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$ 0,00
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Other
Expenses
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$ -5.275.014,19
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$ -3.273.079,95
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$ -1.283.692,05
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Final
Result
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$ 11.208.806,81
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$ 7.375.832,58
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$ 5.686.696,82
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Indexes
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31/12/2005
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31/12/2004
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31/12/2003
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Current
Ratio
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151,87 %
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168,34 %
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165,01 %
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Quick
Ratio
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67,07 %
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70,94 %
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66,44 %
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Short
Term Indebtedness
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122,64 %
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97,97 %
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112,47 %
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Debt
to Equity Ratio
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129,76 %
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115,23 %
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150,03 %
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Long
Term Assets to Total Assets
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18,94 %
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23,37 %
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25,77 %
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Fixed
Assets to Equity
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40,13 %
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50,30 %
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64,44 %
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Total
Assets to Total Liabilities
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177,07 %
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186,79 %
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166,65 %
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Debt
Ratio
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56,48 %
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53,54 %
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60,00 %
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Equity
Ratio
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43,52 %
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46,46 %
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40,00 %
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Investments
to Assets Ratio
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45,26 %
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44,34 %
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44,34 %
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Current
Investment
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81,06 %
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76,63 %
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74,23 %
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Stocks
Aging Days
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168,78 días
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135,20 días
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184,78 días
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Day
Sales
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37,53 días
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37,35 días
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52,75 días
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Trade
Debtors To Assets
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14,07 %
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16,43 %
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17,29 %
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Total
Assets Turnover
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136,79 %
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160,55 %
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119,63 %
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Net
Worth Aging
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314,29 %
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345,55 %
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299,11 %
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Fixed
Assets Aging
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783,26 %
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687,01 %
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464,15 %
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Gross
Profit
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71,55 %
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74,55 %
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73,21 %
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Financial
Expenses on Sales Ratio
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1,27 %
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1,49 %
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0,00 %
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Commercial
Exp. on Sales Ratio
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6,80 %
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6,53 %
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7,48 %
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Administrative
Exp. on Sales Ratio
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4,20 %
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4,19 %
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3,69 %
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REAL
ESTATE:
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Avda.San Martín 4751, City of Buenos Aires.
Blanco
Encalada 1752, Florida, Province of Bs.Aires.
Pte.J.A.Roca
903, Rafaela, Santa Fé.
Rodríguez
Peña 2175, Maipú, Province of Bs.Aires.
Avellaneda
554, S.M.de Tucumán, Province of Tucumán.
Francia
y Avda.Juan D.Perón, Rosario, Santa Fé.
Avda.San
Martín 4791/99, City of Buenos Aires.
VEHICLES:
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Mitsubishi Sedan 4 doors model 1997
Volkswagen
Senda Diesel model 1994
Chevrolet
Corsa model 1998
Volkswagen
Gold model 1998
Volkswagen
Gold model 1999
Pick
Up Ford Ranger model 2002
Polo
1,9 model 2003
Renault
Clio model 1999
No title deeds were shown as to verify if its properties are
unencumbered.
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The
company is engaged in the manufacture and wholesale of stainless steel
pipes and accessories, operating nowadays in the previously exposed
addresses.
It is a company of reasonable importance on its sector, having an appropriate
infrastructure and organization, where its directors participate together
with the necessary staff, among administrators, technicians, etc.
Fits to highlight that in in 2005 it acquired a land it signed a contract
for building a store in Parque Industrial de Rafaela, whose construction
started in early 2005. Therefore the factory of caps for tanks and stock
capacity will be enlarged.
At the same time the company continued performing its extension work of
the store located in Florida, Buenos Aires Province, with the objective
of increasing its stock capacity and improving the work of gantry cranes.
It also moved its factory highlighting that a storey was added in order
to include 3 new lathes which were acquired, guillotine and manufacture
of sheets and improve the work of the presser.
Fits to highlight that in the last twelve months it has carried out
imports from Hong Kong, Brazil, Taiwan, China, India, Sudafrica,
Finlandia and Spain for a total value of US$ 4.172.118,47.
* 172 EMPLOYEES
MAIN SUPPLIERS:
-------------------
LLATERFLEX S.A.
ACEROS
BOEHLER S.A.
JORDICAL
S.A.
M.T.MAJDALANI
Y CIA. S.A.
PRODMET
S.A.
MAIN CUSTOMERS:
--------------------
SIDERCA S.A.
MASTELLONE
HNOS. S.A.
ARCOR
S.A.
SIDERAR
S.A.
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Payment
Record and Credit Risk
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BANKS:
------
BANCO DE LA NACION ARGENTINA
BANCO
MACRO BANSUD
BANCO
DE LA PROVINCIA DE BUENOS AIRES
BANCO
CREDICOOP COOP.LTDO.
CREDIT RISK:
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ENTITY MONTH/YAER SITUATION
AMOUNT
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MACRO
BANSUD 11/2006 1 $ 11.523.400
BANKBOSTON
11/2006 1 $ 4.892.000
PATAGONIA
11/2006
1
$ 7.812.100
CMF
11/2006 1 $ 1.450.500
CREDICOOP
11/2006
1
$ 2.281.700
ITAU
11/2006 1 $ 2.346.900
BNP
PARIBAS 11/2006
1
$ 2.994.600
Situation 1: Normal Fulfillment
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It
is commercially related with companies of this and other markets. Most of
them give it their credit support, not making up to now objections about
its payment record.
* FULILLMENT: NOT OBJECTED
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Generally,
the company is well referred from the consulted contexts, where it is
said that the company’s credit treatment is feasible by amounts of
current importance and taking the additional guarantees.
* FIT FOR OPERATIONS OF CURRENT IMPORTANCE
BTDL
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