MIRA
INFORM REPORT
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Report Date : |
13.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
MDS NORDION INC. |
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Registered Office : |
447 March Road, P O Box 13500, Kanton, Ontario K2K 1X8 |
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Country : |
Canada |
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Date of Incorporation : |
08/11/1991 |
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Legal Form : |
Federally Chartered Corp. - Private |
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Line of Business : |
Specializes in radioisotopes, radiation, and related technologies used
to diagnose, prevent, and treat disease. |
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 : |
Slow but correct |
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Litigation : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name : MDS NORDION INC.
Address :
447 MARCH ROAD
PO Box 13500
City :
KANTON
State/Province :
ONTARIO
As of :
--
Zip Code :
K2K 1X8
Country :
CANADA
Telephone : 613
592-2790
Facsimile :
613 592-6937
Legal Form :
Federally Chartered Corp. - Private
Sales / Revenue : --
Net Income : --
Total Equity : --
Number of Employees : 650
Website :
www..mds.nordion.com
Opinion :
up to $10,000
Business Activity : The
Company specializes in radioisotopes, radiation, and related technologies used
to
diagnose, prevent, and treat disease.
NOTE TO CLIENT
Person contacted: Ms. Shelly McLain, title not disclosed.
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Rating: Credit can be reasonably
accepted up to $10,000.
Amount Requested:
8,000,000
The amounts requested and advised are expressed in: ZAR
LEGAL
Legal Form :
Federally Chartered Corp. - Private
Since (D/M/Y) :
08/11/1991
State/Province of Incorporation :
Canada
Status :
ACTIVE
Previous Legal Form :
Company is NOT required to publish an annual financial report.
Federal registration:
Corporation #2764644
BN #131962086RC0001
Corporation Name(s): MDS Nordion Inc.
Old Name(s) and Change Date(s)
NORDION INTERNATIONAL INC. - 1996/11/29
Mailing Address:
Street: 447 MARCH ROAD
City: KANATA
Province: Ontario
Postal Code: K2K1X8
Country: Canada
Registered Office Address:
Street: 447 MARCH ROAD
City: KANATA
Province: Ontario
Postal Code: K2K1X8
Country: Canada
Reg. Off. Eff: 1991/11/08
Status Date
Amalgamating 2001/11/01
Active 1991/11/08
ACT Name: Canada Business Corporations Act
Amalgamation:1991/11/08
Anniversary:1991/11/08
Update:2001/10/03
Ontario qualification:
Federal Charter Number: 000966258
Date of Incorporation: 11/8/1991
Jurisdiction: Canada
Status: Active
Managers/Key
Personnel
Mr. Steve West
President
Ms. Debi King
Senior Vice President
Mr. Ed Martell
Senior Vice President
Mr. Mike Thomas Senior Vice President
Mr. Chris Wagner
Senior Vice President
AFFILIATED ENTITIES
Skeletech, Inc.
MDS Pharma Services - Saint Laurent, Canada
Calvert Preclinical Services-North America - Olyphant, PA
MDS Pharma Services - Lincoln, NE
MDS Pharma Services - King of Prussia, PA
MDS Pharma Services - Sevres, France
MDS Proteomics - Toronto, Canada
MDS Sciex - Concord, Canada
MDS Capital Corp. - Toronto, Canada
MDS Health Ventures, Inc. - Toronto, Canada
Source Medical - Toronto, Canada
MDS Matrx - Orchard Park, NY
MDS Pharma Services - Bothell, WA
MDS Pharma Services - Tampa, FL
Parent Companies
Parent Company: MDS INC.
100 International Boulevard
ETOBICOKE ON M9W 6S6
CANADA
Telephone: 416 675-7661
The parent company is traded publicly on the New York Stock Exchange
under the symbol MDZ. The recent trading price of the stock is $ 18.64 with a
52 week range between $ 16.58 and $ 20.60. There are approximately 144,691,000
shares outstanding.
(in thousands of US Dollars)
31-Oct-2006 31-Oct-2005
Total Current Assets $1,085,037 $831,398
Total Assets $2,389,579 $2,278,268
Total Current Liabilities $473,811 $492,208
Total Liabilities $970,822
$1,066,876
Total Equity $1,418,757 $1,211,393
Global Net Sales $1,017,222
$1,265,799
Cost Of Goods Sold $662,979
$775,291
Gross Result $354,243 $490,508
Net Incomes/Loss Of The Year $123,137 $26,353
BANKS
ON
Telephone:
Facsimile:
Account Number:
Account Manager:
No banking information could be obtained either directly from management
or from outside sources consulted.
PAYMENT HISTORY
Supplier's Name/Industry Terms Amount/Pay Habits/Comments
Rptd
Open Credit Credit
High Total Current
Past Due/Pay Period
Date
Date Limit Limit Dt. Credit Owing $ 1st
2nd 3rd
------------------------------------------------------------------------------
Mfr-Paint, Varnishes:
*Mar 0
1,239 109 0
109 0 0
Transportation Serv:
*Mar 0
506 506 506
0 0 0
Cntr-Plmbng-Heat-Air:
*Mar 0
7,530 7,530 7,530
0 0 0
Mfr-Air Conditioning:
*Mar 0
8,340 8,340 4,170
0 0 4,170
Whlsl-Ind Mach Sppls:
*Mar 0
601 601 601
0 0 0
Mfr-Machine Tool: Merged accts
*Mar 0
5,850 5,850 5,850
0 0 0
Whlsl-Plumbing/Heatg:
*Mar 0
50,000 3,764 2,782
982 0 0
Wholesale-Elec Equip:
*Mar 0
203K 18,194 17,996
0 0 198
Whlsl-Professnl Equp:
*Feb 0
2,599 2,599 2,583
16 0 0
Whlsl-Ind Mach Sppls:
*Feb 0
9,554 9,554 5,797
0 888 2,869
Services-Health:
*Feb 0
10,845 10,845 10,845
0 0 0
Mfr-Engine:
*Feb 0 5,000 1,854 0 0
1,854 0
Whlsl-Electronic Pts:
*Feb 0
5,000 2,184 2,184
0 0 0
Wholesale-Chemicals:
*Feb 0
2,688 1,344 0
0 1,344 0
Wholesale-Elec Appls:
*Feb 0
3,000K 294 0
294 0 0
Mfr-Machine Tool:
*Feb 0
1,108 1,108 0
0 0 1,108
WASTE MANAGEMENT: 613-831-5363
*Jan 0
7,753 7,753 3,548
4,205 0 0
Mfr-Primary Metal:
*Jan 0
124K 93,887 70,284
23,399 0 204
Whlsl-Constr/Mine Eq:
*Jan 0
585 585 585
0 0 0
Mfr-Valve & Pipe Fit:
*Jan 0
82 82 0
82 0 0
Whlsl-Professnl Equp: Merged accts
*Jan 0
15,637 15,637 13,293
2,344 0 0
------- ------- ------- ------- ------- -------
P.I. =
11 90 Days 3,463K
192K 148K 31,431
4,086 8,549
Reported ------- ------- ------- ------- -------
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Transportation Serv: Merged accts
*Dec 0
156K 156K 78,405
30,787 12,571 34,523
Retail-Establishment:
*Dec 0
100K 377 377
0 0 0
Transportation Serv:
*Nov 0
67 67 0 67
0 0
Wholesale-Elec Equip:
*Nov 0
329 329 329
0 0 0
Trucking:
*Oct 0
5,073 5,073 3,698
714 0 661
MCCORDICK GLOVE INC: 519-623-9710
*Oct 0
1,829 647 217
430 0 0
Business Services:
*Sep 1,000
612 612 0
612 0 0
Trucking:
*Sep 0
360 360 0 360 0
0
Transportation Serv:
*Aug 0
23 23 0
23 0 0
Mfr-Rubber/Plstc Pro:
*Aug 0
358 358 358
0 0 0
Mfr-Measuring Equip:
*Jul 0
143 143 143
0 0 0
Whlsl-Ind Mach Sppls:
*Jun 0
8,673 8,673 0
8,673 0 0
Air Transport:
*Jun 0
7,028 7,028 0
0 3,695 3,333
PNEUMATIC IND EQUIP: 905-624-7323
*May 0
5,830 5,830 0
0 5,830 0
Transportation Serv:
*Mar 0
200K 725 262
463 0 0
Whlsl-Plumbing/Heatg:
*Feb 0
970 46 0
46 0 0
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P.I. =
23 Total 3,950K 379K 232K 73,606
26,182 47,066
Reported
------- ------- ------- ------- ------- -------
Payment C.I. Number of Total
Current Overdue
Quarters
Index Score Suppliers
Owing $ 1st 2nd 3rd
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4 Qtr/2006
27 17 20
259,545 142,889 58,912
20,889 36,855
3 Qtr/2006
11 4 24
312,012 221,529 77,064
11,449 1,970
2 Qtr/2006
17 4 22 309,330
194,847 80,203 24,413
9,867
1 Qtr/2006
28 10 18
211,738 98,480 74,522
10,683 28,053
4 Qtr/2005
13 6 23
218,858 155,143 45,691
13,341 4,683
3 Qtr/2005
17 4 24
355,958 215,049 107,594
22,111 11,204
2 Qtr/2005
17 9 24
194,409 116,263 58,091
16,898 3,157
1 Qtr/2005
31 14 23
123,138 32,165 73,634
11,380 5,959
4 Qtr/2004
15 10 21
147,262 99,972 34,959
6,220 6,111
FINANCIAL INFORMATION
Financial details for the Subject were not immediately available. The
parent company is traded publicly, consolidated financial details appear above
in thousands of US Dollars.
CURRENT OPERATIONS
NAICS Code: 339111 Laboratory Apparatus and Furniture
Manufacturing
SIC Code: 2599
Number of Employees:
650
Business Activity:
The Company specializes in radioisotopes, radiation, and related
technologies used to diagnose, prevent, and treat disease. Products are sold to health care providers
and manufacturers of health and life sciences products in over 70 countries
around the world. Services Technology based services support our products providing
customers with added value. Technology
Innovation through new technologies is key to developing effective solutions in
the changing global health and life sciences markets.
MDS Nordion is committed to building partnerships and acting in collaboration
with others to foster the development of new, innovative technologies.
BRANCH LOCATIONS:
REGIONAL OFFICE:
4004 Wesbrook Mall
Vancouver, BC, Canada V6T 2A3
Phone: +1 604 228 8952
Fax: +1 604 228 5990
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EUROPEAN OFFICE:
Zoning Industriel
Avenue de l'Espérance
B-6220 Fleurus
Belgium
Tel: +32 71 82 35 86
Fax: +32 71 82 36 66
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ASIA PACIFIC SALES OFFICE:
Hong Kong:
901 Matheson Centre
3 Matheson Street
Causeway Bay
Hong Kong
Phone: +852 2827 8666
Fax: +852 2827 8302
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Japan:
Room No. 905
Tokyo Royal Plaza
1-18-11, Uchi-kanda
Chiyoda-ku, Tokyo
101-0047 Japan
Phone: +81 3 5283 6872
Fax +81 3 5283 6873
PUBLIC RECORD
We found no evidence of bankruptcy filed in the Subject's name.
Statement of Claim:
Defendant MDS (CANADA) INC Date
Nov 27, 2006
Plaintiff KEVIN MCRAE Court
General Division
Amount 300,000 Location Ottawa-Carleton
Reason Damages File # SU36607-06
Statement of Claim:
Defendant MDS NORDION INC Date
Nov 19, 2002
Plaintiff HEWITT (BROCKVILLE) LTD Court
General Division
Amount 105,000 Location Ottawa-Carleton
Reason Contract File # 02CV22400
GENERAL COMMENTS
The Company specializes in radioisotopes, radiation, and related
technologies used to diagnose, prevent, and treat disease. The payment record
shows some notable slowness. Public indicate legal filings against the Subject
however these do not appear to threaten the overall condition of the Company.
The Company is considered responsible for normal business transactions.
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%)