MIRA
INFORM REPORT
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Report Date : |
26.06.2007 |
IDENTIFICATION DETAILS
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Name : |
SOCIETE NATIONALE DE VEHICULES INDUSTRIELS SPA |
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Registered Office : |
Route Nationale No 5, |
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Country : |
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Date of Incorporation : |
1975 |
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Com. Reg. No.: |
00B0013581 |
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Legal Form : |
Limited By Shares Company |
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Line of Business : |
Manufacturers and exporters of industrial vehicles such as trucks,
buses, trailers and other heavy equipment. |
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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Maximum Credit Limit : |
AD 200,000,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COmpany NAME
SOCIETE NATIONALE DE
VEHICULES INDUSTRIELS SPA
ADDRESS
Street : Route Nationale No 5
P.O. Box :
153
Town : Rouiba
Post Code :
35300
Country :
Telephone :
(213 21) 811 391 / 811 392 / 812 036 / 811 492
Fax : (213 21) 811 489
E-Mail : snvi@algeriainfo.com
Shortform Name
SNVI
SENIOR COMPANY
PERSONNEL
Name Position
1. Moukhtar Chahboub Managing
Director
2. Toufik Larouati Financial
Director
3. Abderhaman
Sultani Director
4. Mohammed Zarzour Commercial
Director
Total Employees
8,241
PAYMENTS
No complaints have been
heard regarding payments from local suppliers or banks.
Subject is a state owned
company operating since 1981. In 1999, 2000 and 2001 the company incurred
undisclosed losses and returned to profitability in 2002.
We consider it is
acceptable to deal with subject for LARGE amounts, although it is normal
accepted practice for international suppliers to deal on secured terms with
Algerian importers.
Opinion on maximum credit
: AD 200,000,000
Trade risk assessment :
TRADE REFERENCES
NAME :
VALEO
Street :
43 rue Bayen
Town :
75017
State :
Country :
Telephone : (33 1) 4055 2020
Fax :
(33 1) 4055 2171
PRINCIPAL BANKERS
NAME :
BANQUE NATIONALE D'ALGERIE
Branch :
Blvd Ernesto Che Guevara 8
Town :
Telephone : (213 21) 714 748
Fax :
(213 21) 712 424
FINANCIAL INFORMATION
Balance sheets have not
been made available to our local sources.
However, the subject
interviewed offered the following information :
Sales Turnover : AD 12,000,000,000 - 1993 - exact
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AD 10,000,000,000 - 1994 - exact
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AD 13,000,000,000 - 1995 - exact
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AD 15,000,000,000 - 1996 - exact
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AD 9,500,000,000 - 1997 - exact
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AD 11,000,000,000 - 1998 - exact
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AD 12,000,000,000 - 1999 - exact
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AD 10,000,000,000 - 2000 - approx
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AD 12,583,000,000 - 2001 - approx
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AD 12,582,000,000 - 2002 - exact
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AD 14,736,000,000 - 2003 - exact
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AD 19,130,000,000 - 2004 - exact
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AD 18,060,000,000 - 2005 - exact
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AD 25,000,000,000 - 2006 - approx
Loss :
break-even - 1997
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break-even - 1998
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not given - 1999 - 2001
Net Profit :
not given - 2002 - 2003
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AD 3,300,000,000 - 2004 - exact
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AD 2,000,000,000 - 2005 - exact
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not given - 2006
Financial year ends 31
December.
LEGAL STATUS AND
HISTORY
Date Started : 1975
History : The Company was
formed in 1981 as part of a general re-structuring of Societe Nationale de
Constructions Mecanique(SONACOME). Sonacome was established in August 1967 with
a monopoly for the import of mechanical products. It has nowbeen reorganised into eleven
smaller entities of which SNVI is one, most of which are specialising in the
manufacture or distribution of one of Sonacome's products.
C.R. No. : 00B0013581
(formerly 94B750273)
Paid up Capital : AD
4,300,000,000 (increased from AD 2,200,000,000)
Societe Par Actions
(Limited By Shares Company) with the following sole shareholder :
Algerian state 100 %
Subject is responsible to
the Ministry of Participation et Reforme Economique.
ACTIVITIES
The Company is involved
in the following activities :
Manufacturers and
exporters of industrial vehicles such as trucks, buses, trailers and other
heavy equipment.
Imports materials and
components from
Exports to
Principal overseas
suppliers :
1.
2.
3.
4.
5.
6. Ital
7.
8. BPW,
9. ZF,
10.
FACILITIES
The Company has the
following facilities :
Administrative offices
and production plant located at the heading address and four other production
plants.
SNVI is based on a 250
hectare industrial complex constructed at Rouiba in 1974.
Several sales units and
after-sales premises throughout the country.
BRANCH OFFICES
Production plants divided
as following :
1. Complexe Vehicules
industriels Rouiba
(industrial vehicles assembly plant)
2. Centre Carrosserie
Industrielle de Rouiba
(car
body production plant)
3. Centre Carrosserie
Industrielle de Tiaret
(car body production plant)
4. Centre Carrosserie et
Equipements Speciaux de Hussein-Dey
(car body and especial parts production
plant)
5. Centre de Fonderie GS
El-Hadjar
(Foundries)
Principal after-sales
outlets :
1. Khemgani Boudjemma
Reseau Maintenance SNVI
Rue de la Palestine
3000 Ouargla
Tel : 9 704 868
2. Khemgani Hachemi
Reseau Maintenance SNVI
Mekhedma
3000 Ouargla
Tel : 9 704 066
3. Herbal Larbi Reseau
Maintenance SNVI
Sokra
3000 Ourgla
Tel : 9 702 695
Some of the most
important branches :
1. ZI de Chetouane
13000 Tlemcen
2. ZI Bechar
08000 Bechar
3. ZI Ruote d'El Hadj
23000
4. ZI Cite Lamoriciere
25000
5. 156-160 Rue de
16040 Hussein Dey Alger
6. 115 Avenue Aspirant
Haman Mokhtar
31000
7. ZI Setif
Setif
8. ZI Oued Aissi
15000 Tizi Ouzou
9. ZI Ouargla
30000 Ouargla
10.Unite de Carrosserie
Industrielle
14110 Ain Bouchekif
11.Chemin de la Willaya
No.33
B.P. 38
Es-Senia
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%)