MIRA
INFORM REPORT
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Report Date : |
24.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
Cargill
International SA |
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Registered Office : |
Case postale
383, 1211 Geneve 12/GE |
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Country : |
Switzerland |
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Date of Incorporation : |
31-05-2000 |
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Legal Form : |
Joint stock
company |
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Line of Business : |
Marketer,
processor and distributor of agricultural, food,
financial and industrial products and services. |
RATING &
COMMENTS
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MIRA’s Rating : |
Aaa |
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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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Maximum Credit Limit : |
EUR 500.000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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detail
assessment: |
Payments: |
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The financial situation is considered first rate |
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Individual
credit limit*: |
EUR 500.000.-- |
Name
Cargill International SA
Line of Business
Negoce international
Legal domicile
Chemin De-Normandie 14
1206 Geneve/GE
Business address
Case postale 383
1211 Geneve 12/GE
Switzerland
Telephone: 022 7032111
Fax: 022
7032713
Homepage: http://www.cargill.com
E-Mail: info@cargill.com
CREDIT ADVICE
Credit opinion: EUR 500.000,--
This credit advice is based on information
available at the time of conducting the research, being the above indicated
date.
All amounts in this report are given in
Swiss Francs (CHF) unless otherwise stated.
GENERAL COMPANY DATA
OFFICIAL DATA:
Legal form: Joint
stock company
Registration: 31-05-2000
First Publication: 07-06-2000
Last Publication: 18-12-2006
Share capital: 183.000.000
Paid up: 183.000.000
Divided into: 10.000
Registered shares of 18.300
History: 25-08-2004 183.000.000 Capital decrease
423.000.000
Previous capital
Direct Parent com.: Cargill Inc, Minneapolis, America/US with a
share of 100.
Company Management: Norman Hay
Registered domicile 31-05-2000, Switzerland/CH
Previous, St John's, Antigua and
Barbuda/AG
ACTIVITY:
Activity:
Cargill is an international marketer, processor and distributor of
agricultural, food, financial and industrial products and services. The company
provides distinctive customer solutions in supply chain management, food
applications and health and nutrition.
Cargill has developed more than forty areas of activity, including the
trade in cereals, the processing of grains and oilseeds, the sale of crude and
refined petroleum products, the operation of bulk orange juice vessels, the production
of flour, auxiliary products, food products, the exploitation of salt milling
mills, etc.
Cargill is a leader in developing high quality, competitively priced
farm products and in supplying them to growers. Agricultural products include a
wide variety of feed, fertilizer and other goods and services needed by
producers worldwide. Cargill provides
livestock farmers with well balanced, nutritional feeds. These animal feeds are
produced at mills throughout North America, Latin America, Europe and Asia.
Cargill also produces and markets pet food.
Cotton is traded through two divisions. HOHENGERG BROS.COMPANY of
Memphis, Tennessee, merchandises American, Mexican and Latin American cotton to
textile manufacturers and other users worldwide. RALLI BROS.AND CONEY of
Liverpool, England, trades cotton from growers in the Eastern Hemisphere
(Europe, Africa and Asia).
Cargill trades raw and white sugar in
Minneapolis, Paris, Geneva and Hong Kong.
Cargill trades edible and non-edible
tallow. It is acquired from major U.S. meat packers and sold in Algeria,
Brazil, Colombia, Egypt, Korea, Mexico, the Netherlands, Spain and Venezuela,
among others.
Cargill trades salt destined for the agricultural and industrial
sector. CARGILL NORTH ASIA, CARGILL
PETROLEUM and NORTHEAST PETROLEUM are in charge of the sale and distribution of
the crude and refined products.
CARGILL FERROUS INTERNATIONAL trades
products ranging from pig iron to finished steels.
Cargill has the most efficient and economical modes of transport to move
bulk commodities from point of origin to point of consumption. To manage
transportation logistics, Cargill relies on a complex network of rail and road
systems, inland waterways and ocean-going routes. Because of the great volume
of merchandise to be transported, Cargill utilizes a combination of its own
fleet and transportation services purchased from outside sources.
ROGERS TERMINAL & SHIPPING, a Cargill Marine and Terminal division,
provides stevedoring services to both Cargill business and outside companies on
the East and West Coasts and inland waterways in the United States.
G&M STEVEDORING, based on the Gulf of
Mexico, also provides services to Cargill and non-Cargill businesses.
CARGILL INVESTOR SERVICES (CIS) is a
futures/futures options broker and risk management consultant. CIS specializes
in trading futures and options for financial, agricultural, energy, metals and
soft commodities.
Products:
Cargill produces a comprehensive range of
products ranging from simple ingredients to reknowned market brands, inter alia
the following:
- FRESH CARGO and NAUTICA shrimps
- SUN VALLEY chickens
- HONEYSUCKLE and RIVERSIDE turkeys
- Egg derivates for foodstuff
manufacturers and other food catering businesses of the SUNNY FRESH brand
- CARGILL syrup (more than 15 varieties)
- a comprehensive range of fresh and
frozen porc-based processed meat of the EXCEL brand
- CARGILL salt for the treatment of
drinking water
- etc.
The Cargill Group is proprietor of around
800 operations and offices in sixty countries.
Significance: The company is well known worldwide.
EMPLOYEES:
Number of employees: 420
The group employs 149'000 employees in 63
countries.
PAYMENT AND FINANCIAL DATA
PAYMENT EXPERIENCES:
Legal actions: Information only available against proof of interest with a
valid signature.
The payment terms are met on a timely
basis. The business reputation is considered very good.
FINANCIAL DATA:
Financial position: The financial situation is considered first
rate.
Financial Statements: The company does not
disclose any financial statements.
The consolidated turnover of the Company
amounts to 16,5 billion dollars.
Consolidated key figures (in USD
1.000.000):
Groupe Cargill
31.05.2006
31.05.2005 31.05.2004 31.05.2003
12 Months 12 Months 12
Months 12 Months
Sales 75'208.0
71'066.0 62'907.0 54'390.0
Profit/Loss 1'537.0
2'103.0 1'331.0 1'290.0
Balance sheet total 48'298.0
48'260.0 49'696.0 37'536.0
Banker(-s): UBS Ltd,
1200 Geneve
Credit
Suisse (CS), 1200 Geneve
Chase Manhattan Bank, pour les Etats-Unis.
Auditors: KPMG
Klynveld Peat Marwick Goerdeler SA, Geneve
Premises: The premises at the above mentioned address are rented.
Fiscal taxation: No information is available due to the local tax authority
regulation.
COMPANY AND PERSON
RELATIONS
COMPANY CONNECTIONS:
Direct Parent com.: Cargill Inc, Minneapolis, America/US with a
share of 100.
Shareholder(s):
Cargill Inc, Wilmington, America/US.
Cargill, Incorporated is an international marketer, processor and distributor
of agricultural, food, financial and industrial products and services.
The company provides distinctive customer solutions in supply chain
management, food applications, and health and nutrition.
The Cargill Group owns companies, operations and offices in the
following main countries: Algeria, Germany, Argentina, Australia, Belgium,
Brazil, Canada, Chile, China, Columbia, Korea, the Ivory Coast, Egypt, Spain,
the United States, Ethiopia, France, Greece, Guatemala, Honduras, Hong Kong, India, Indonesia, Italy, Japan, Kenya, Malaysia,
Malawi, Mexico, Nicaragua, Nigeria, New Zealand, Pakistan, Paraguay, the
Netherlands, Peru, the Philippines, Poland, Porto Rico, Portugal, Untied Kingdom, Singapore, Switzerland, Taiwan, Tanzania,
Thailand, Turkey, the Sovjet Union, Venezuela and Zimbabwe.
Direct Investments:
Provimi Kliba SA, Penthalaz/VD (100.0%).
Associated companies:
Cargill TSF Europe, Inc. Wilmington,
Geneva
Branch, Geneve/GE, Switzerland/CH
Cargill Investment Management SARL,
Geneve/GE,
Switzerland/CH
Cargill Financial Services Intern. INC,
Wilmington, succ. de Geneve, Geneve/GE,
Switzerland/CH
Effective of 31 March 1999, Cargill
acquired the cereal business from its major competitor CONTINENTAL GRAIN.
The Geneva-based company Finagrain, established in 1957, acted as
commercial centre for the global trading activities (excluding the American
continent) of Continental Grain Group. The latter employed 110 people.
Following the acquisition of the cereal business of Continental Grain by
Cargill, the activities of Finagrain have been taken over by Cargill International SA in Geneva. The entire workforce of Finagrain was terminated. Some of the staff has
been reemployed by Cargill.
In August 2002, Cargill acquired the Swiss petfood market leader Provimi
Kliba SA, in Penthalaz.
Provimi Kliba SA was registered in the Commercial Register on 23
December 1924. The latter's fully liberalized share capital amounts to CHF
4.822.000.--. Provimi Kliba has three production units in Cossonay-Gare, Kaiseraugst,
canto of Aargovia and Gossau, canton of St. Gallen, as well as a grain mill in
Cossonay-Gare. The mill is supplied from growers throughout Switzerland and
processes approximately 300'000 tons of cereals and grains per year.
BOARD OF DIRECTORS:
Norman Hay, from United Kingdom, in Geneve/GE/Switzerland,
President, General Director, sole
signature.
David W. Raisbeck, from America, in
Shorewood
MN/America,
Vice President, sole signature.
David W. Rogers, from United Kingdom, in
Chiddingfold/United Kingdom,
Vice President, sole signature.
Hans-Ulrich Rueedi, from Gaechlingen, in Bernex/GE/Switzerland,
Vice President, Director, sole signature.
Cedric Grandjean, from Bellerive VD, in Lausanne/VD/Switzerland,
Secretary, sole signature.
Stuart Reed, from United Kingdom, in Geneve/GE/Switzerland,
Member, Director, sole signature.
MANAGEMENT:
Patrick Bracken, from America, in
Geneve/GE/Switzerland,
Director, sole signature.
Jonathan Drake, from United Kingdom, in
Collonge-Bellerive/GE/Switzerland,
Director, sole signature.
David Gabriel, from America, in Geneve/GE/Switzerland,
Director, sole signature.
Thomas Intrator, from Muenchwilen, in Thonex/GE/Switzerland,
Director, sole signature.
Jean-Olivier Kerr, from France, in
Geneve/GE/Switzerland,
Director, sole signature.
Emery Koenig, from America, in Chene-Bougeries/GE/Switzerland,
Director, sole signature.
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%)