MIRA
INFORM REPORT
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Report Date : |
15.06.2007 |
IDENTIFICATION DETAILS
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Name : |
COMISION NACIONAL
DE ENERGIA ATOMICA - "CNEA" |
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Registered Office : |
Libertador avennue 8250 (1429), |
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Country : |
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Date of Incorporation : |
31/05/1950 |
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Legal Form : |
Autocratic Organization |
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Line of Business : |
Nuclear Science And Technology Programming |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Registered Name
COMISION NACIONAL DE ENERGIA ATOMICA - "CNEA"
CUIT
30-54666021-0
Summary
BEGINNER OF ACTIVITIES. INCORPORATED IN 1950. IT HAS NOT
BEEN POSSIBLE TO OBTAIN THE BALANCE SHEET AS OF DECEMBER/2006. SINCE THE
COMPANY IS SUPPORTED BY THE
Operations
NUCLEAR SCIENCE AND TECHNOLOGY
PROGRAMMING
STUDY
DEVELOPMENT
Legal Structure
Business type: Autocratic Organization
Incorporated: 31/05/1950
Registered:
Duration: Unlimited
End of fiscal year: December 31st
Contact
Main office : Libertador avennue 8250 (1429),
Phone : (54-011) 4704-1000
Fax : (54-011) 4704-1154
E-mail : comunicación@cnea.gov.ar
Bariloche Atomic Centre (CAB): Bustillo avennue 9500 (8400), San Carlos de
Bariloche,
Phone: (54-2944) 44-5100
Fax: (54-2944) 44-5299
E-mail: info@cab.cnea.gov.ar
Constituyentes Atomic Centre (CAC): General Paz avennue 1499 (1650), San
Martín,
Phone: (54-011) 6772-7000/7007
E-mail: rrpp@cnea.gov.ar
Ezeiza Atomic Centre (CAE): Presbitero Juan González y Aragón N° 15 (B1802AYA),
Ezeiza,
Phone: (54-011) 6779-8100/8200
E-mail: gusalvar@cae.gov.ar
Regional Noroeste (
Phone: (54-387) 425-0502
Regional Cuyo (Mendoza): Azopardo 313 (5501),
Phone: (54-261) 422-4685/435-0404
Fax : (54-261) 435-0468
Regional Centro (
Phone: (54-351) 470-6495/470-4422
Regional Patagonia (Chubut): 26 de Noviembre s/n., Industrial Park (9100),
Trelew,
Phone: (54-2965) 446986/446904
Hospital - Nuclear Medicine Centre (HCMN): Córdoba 2351,
Phone: (54-011) 5950-8573/8571
Fax: (54-011) 5950-8647
E-mail: hcmnuclear@intramed.net.ar
Roffo Institute - Nuclear Medicine Centre (IRMN): San Martín 4528,
Phone: (54-011) 4529-2800
Fabriel Arroyito Complex: Industrial Plant of Heavy Water (PIAP), Route 237,
Km.1278, Arroyito, (8300), Neuquen
Phone: (54-0299) 448-0701
Partners
President: ABRIATA JOSE PABLO
Vice-president: REY FRANCISCO CARLOS
Internal Auditor: D´ANNI HUMBERTO JORGE
General Manager: CALABRESE CARLOS RUBEN
Manager of Administration and Finances: MAZZEI MIGUEL
Manager of Technological Area Application: GONZALEZ CLEMENTE ALFREDO J.
Manager of Nuclear Security Area: GREGUI JOSE ERNESTO
Manager of Invetigation and Applications Area: LAMAGNA ALBERTO
Planification and Coordination Manager: GOMEZ DE SOLER SUSANA MARTA
Manager of Economical Development: CERVIO PINHO MARIA FERNANDA
Human Resources Manager: GARCIA PEÑALOZA DE DIDDI LAURA
Manager of Institutional Relations: BOADO MAGAN HERIBERTO
Manager of Legal Matters: MARTINI LEOPOLDO EMILIO
Chief of Secretary and Office Department: MALESANI IVAN LUIS
The first two mentioned ones, as Managers, are in charge of the management and
administration of the company, with the use of the social signature.
Personal
Information
ABRIATA JOSE PABLO:
Argentinian, married, born on 24/09/1938, LE. 6.030.863 (CUIT. 20-06030863-3) with address in Guemes 515, Bariloche, Río Negro.
He is registered as President of ENSI SE EMPRESA NEUQUINA DE SERVICIOS DE INGENIERIA S.E. and operates as Teacher in UNIVERSIDAD NACIONAL DE CUYO.
REY FRANCISCO CARLOS:
Argentinian, married, born on 01/07/1944, LE. 4.433.898
(CUIT. 20-04433898-0) with address in Domingo Romero 1839, 3º "14",
HE is registered as Director of ENSI SE EMPRESA NEUQUINA DE SERVICIOS DE
INGENIERIA S.E.
History
COMISION NACIONAL DE ENERGIA ATOMICA is an Autarchic Organization,
which depends on the Ministry of Federal Planning, Public Investment and
Services, through the Energy Secretary. It was incorporated on 31/05/1950.
Its operations are carried out on a varied legal background, with two main
norms that regulate the institution: The Decree-Law N° 22.498/56, certified by
the Law N° 14.467 and the National Law of the Nuclear Activity (Law N° 24.804),
Decree N° 1390/98.
Therefore, it can operates in a public and private way in different activities,
such as scientific, technical, industrial, commercial, administrative and
financial.
It is in charge of the application of the Law Regime of Radioactive Waste
Management (Law Nº 25018) and of Joint Convention (International) about
Security in Management of Worn-out Fuels and Security in Radioactive Waste
Management.
In the 2º Article of the Law N° 24804 is mentioned the company's operations,
such as:
> Advise the Executive in the definition of the nuclear policy.
> Promote the development of human resources of high specialization
and development of nuclear science and technology.
> Develop, construct and operate experimental nuclear reactors.
> Develop materials and the manufacture's process of fuels for their application in advanced cycles.
> Develop applications of radioisotopes and radiations in biology, medicine and industry.
> Implement programs of basic and applied investigation in the basis science of nuclear technology.
> Determine the way of retirement of services from the nucleoelectric power stations and any other relevant radioactive facility.
Economic-Financial
Position
The company's policy is not to supply financial information to third parties.
Therefore it has been necessary to consult indirect sources, where we obtained
figures of the Assets and Liabilities of the Balance Sheet ended as of
31/12/2005, which are expressed in Pesos.
ASSETS:
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Liquid Assets
7.623.280,83
Credits 137.716.427,25
Inventories 12.198.671,00
Consumer goods 536.780,89
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Total Current Assets 158.075.159,97
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Financial investments 19.957.636,00
Fixed Assets 816.325.501,53
Intangible Assets 72.447,71
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Total Non-Current Assets 836.355.585,24
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TOTAL ASSETS 994.430.745,21
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LIABILITIES:
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Debts
30.702.487,52
Non-Current Liabilities 823.203,59
Funds of third parties in guarantee 189.615,94
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Total Current Liabilities 31.715.307,05
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Long-term internal loans 850.348,60
Total Non-Current Liabilities 496.867,41
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TOTAL LIABILITIES 32.565.655,65
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Institutional Capital 132.551.422,79
Transfer and
contribution of received capital 49.224.314,77
Result of the current account 502.183.856,79
Patrimonial changes
from decentralized organisms 277.905.495,21
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Total Net Worth 961.865.089,56
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LIABILITIES AND NET WORTH 994.430.745,21
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It is necessary to mention that these FIGURES are outdated and therefore they
don't show the company's current economic-financial situation.
However, in those days the company's own resources were a large support for the
operations, reason why it didn't need support from third parties.
Assets
REAL ESTATE
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Some of the properties located in the previously exposed addresses belong to
the company and others are supplied by the
No title deeds were shown as to verify if its properties are unencumbered.
Evolution and Results
The company's performs the mentioned activities and has
nuclear power stations in
Its experimental nuclear reactors are of such quality that the company became
the main exporter of this item since the seventies it has exported nuclear
power stations of investigation and production of radioisotopes, investigation
reactors and manufacture plants of fuels for reactors to Peru, Egypt, Algeria,
Romania and Australia, for more than US$ 700 millions. Its development in
nuclear medicine is also important, with growing exports.
The Argentinian Nuclear Sector is not only formed by Comisiòn Nacional de
Energía Atómica but also by 3 big Atomic Centres (Bariloche, Constituyentes and
Ezeiza), the area of formation of excellente human resources, which is the
mentioned Balseiro Institute, 7 companies of the Nuclear Plan, 40 companies
involved in the sector and the Nuclear Regulatory Authority, which offer security
and reliability.
One of the companies created with the Nuclear Plan is INVAP, which has 30 years
in operation and became the only company in
Fits to highlight that it has had important successes in the most varied fields
of modern technology, carrying out industrial projects and consultancy to all
the world, included forefront countries as
The companies and institutions associated to CNEA are:
> COMBUSTIBLES NUCLEARES ARGENTINOS
> FABRICA ALEACIONES ESPECIALES
> INVAP S.E.
> EMPRESA NEUQUINA DE SERVICIOS DE INGENIERIA S.E.
> DIOXITEK S.A.
> POLO TECNOLOGICO CONSTITUYENTES
> FUNDACION ESCUELA DE MEDICINA NUCLEAR.
> FUNDACION CENTRO DE DIAGNOSTICO NUCLEAR
Apart from its Headquarters, it has three Atomic Centres (Bariloche,
Constituyentes and Ezeiza), a Technological Complex in Pilcaniyeu; a Mining and
Industrial Complex in
The objective of those regional offices is to carry out research and
exploration of mineral resources (nuclear), mainly those related with uranium
of its are:
Regional Centro:
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Located in
It has a production plant of uranium dioxide of the associated company DIOXITEK
Regional Cuyo:
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Headquarters in
Regional Noroeste:
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Headquarters in
Regional
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Headquarters in
It carries out imports from
* 1902 EMPLOYEES
NATIONAL SUPPLIERS:
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TELECOM ARGENTINA S.A.
OFFICENET
Payment Record and
Credit Risk
BANKS:
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BANCO DE LA NACION
BANCO SANTANDER RIO S.A. Principal Office
HSBC BANK ARGENTINA S.A. Principal Office
INSURANCE:
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CONSOLIDAR
Concept
Fits to highlight that since the company's activity is completely commercial, it isn't well-known in market as credit operator, reason why it has not been possible to obtain details about its payment record.
However, up to now it doesn't register that could affect its concept.
* CONCEPT: NOT AFFECTED
Final Opinion
Bearing in mind what has been exposed hereby and the support
that the company has from the
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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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%)