MIRA
INFORM REPORT
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Report Date : |
04.09.2007 |
IDENTIFICATION DETAILS
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Name : |
PROCTER & GAMBLE INDUSTRIAL, S.C.A. |
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Registered Office : |
Calle Altagracia, Edif.
Procter & Gamble, Sector Sorokaima, Urb. La Trinidad, Caracas |
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Country : |
Venezuela |
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Date of Incorporation : |
19.06.1991 |
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Legal Form : |
Limited Partnership |
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Line of Business : |
Manufacture,
commercialization, import, purchase, sale of house cleaners, personal hygiene
products, toiletries, over-the-counter medicines, foodstuffs and industrial
products in general. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
IDENTIFICATION
CORRECT COMPANY NAME : PROCTER & GAMBLE
INDUSTRIAL, S.C.A.
TAXPAYER REGISTRATION : RIF J308109860
OPERATING STATUS :
Active
MAIN ADDRESS :
Calle Altagracia, Edif. Procter & Gamble, Sector
Sorokaima,
Urb.
La Trinidad
CITY/PROVINCE :
CARACAS
COUNTRY : VENEZUELA
TELEPHONE :
(58212)903.6555/ 903.6111
FAX : (58212)903.6364
WEB SITE
: www.proctergamble.com
SUMMARY
Incorporation
: 1991
Operating Status : Active
Last Capital
: *
Employees
: *
QUALIFICATION
RATING : Good
PAYMENTS : Little credit experience available
LEGAL BACKGROUNDS
DATE OF INCORPORATION : 19JUN1991
REGISTERED IN :
Caracas. Mercantile Register II
DURATION : 50 years
REGISTRATION :
#42, Volume 141-A. File 339.496
INITIAL CAPITAL :
Bs. 50,000,000.= Bolivars
CURRENT PAID-IN CAPITAL : Bs. 2,701,390,000.=
Bolivares
LAST CAPITAL INCREASE : 03.07.2001 (#66, Volume 130-A)
TYPE OF SHARES :
Nominatives
LISTED AT STOCK EXCHANGE: No
SHARE VALUE :
Bs. 10,000.= Bolivares
CURRENT EXCHANGE RATE : Bs. 2,684.= per 1.00 USD
COMMENTS -
Subject was started as
INVERSIONES PROCTER & GAMBLE C.A.; on 02.09.1991, it changad name to
PROCTER & GAMBLE DE VENEZUELA C.A., under #67, Volume 115-A. On 03.07.2001,
company legal form changed from stock company to limited partnership with share
capital and name was amended to present style: PROCTER & GAMBLE INDUSTRIAL
S.C.A. (#66, Volume 130-A).
Evolution of capital
stock:
To: Bs. 2,171,600,000, in
12/93
To: Bs. 2,700,990,000, in
01/95
Current capital stock:
270,099 shares at Bs. 10,000.= each one
Bs. 400,000.= :
contribution by partner
The Board of directors
was appointed on 30/05/2003.
HISTORY
Founders: Procter &
Gamble de Venezuela C.A. (founded on 31.07.1950, under Nº 789. TAX ID
RIF.J-00030031-3)
In december 1994, subject
absorbed by merger process the firm INDUSTRIAS MAMMI C.A., effective from
january 1995.
In 1995, in line with
strategic alliances plan of subject, it acquired the firm PRODUCTOS CRUZ VERDE
C.A., and its house cleaner product lines, cloth softeners, etc.
In 1996 an alliance was
attempted with S.C. JOHNSON DE VENEZUELA, for the Cruz Verde product line
(floor wax), but which was objected by the Competition Superintendency,
alleging the resulting entity would have 7 times more market participation than
their nearest competitor.
In august 2000, it was
agreed to establish a branch in the city of Porlamar, state of Nueva Esparta.
In july 2001, INVERSIONES
INDUSTRIAS MAMMI S.C.A. transferred its shares to PROCTER & GAMBLE TENEDORA
S.A.
In november 2002 agreed
to pay Bs.58,054,739,304.= to the firm MAX FACTOR K.K. in virtue of
transference of loan contract made by PROCTER & GAMBLE HOLDING S.R.L. to
the subject.
DIRECTORS / EXECUTIVES / SHAREHOLDERS
FULL NAMES / COMPANY NAME TITLE
OWNERSHIP %
BOADAS, ANTONIO
RAFAEL Director
DUEÑAS, ALBERTO General
Director
MARIN, WILFREDO Director
PURNELL, SUSAN Finance Director
CAMPAGNARO, ADRIANA Human
Resources Manager
PROCTER & GAMBLE
TENEDORA, SA Shareholder 99.985%
PROCTER & GAMBLE
INDUSTRIAL 1 SRL Shareholder 0.015%
WHO IS WHO ?
BOADAS, ANTONIO RAFAEL
NATIONALITY : Venezuelan
DOC.
OF IDENT. : CI 6242031
MARIN, WILFREDO
NATIONALITY : Venezuelan
DOC.
OF IDENT. : CI 4509610
CAMPAGNARO, ADRIANA
NATIONALITY : Venezuelan
DOC.
OF IDENT. : CI 4929664
PROCTER & GAMBLE TENEDORA, SA
NATIONALITY :
Venezuelan
Registered in Caracas on
26.06.2001, under No.68.
Ownership consists of
270.099 shares of Bs.10,000.= each one.
PROCTER & GAMBLE INDUSTRIAL 1 SRL
Unknown nationality.
Its ownership is
repreented by a contribution of Bs. 400,000.=
RELATED COMPANY(IES)
At group level, P & G
is one of the biggest multinationals at current, with presence in over 160
countries and with more than 140,000 employees around the world. P & G is
famous as it pioneered market research and introduced second brands that
compete with its main product brands. In Latin America, P & G has presence
in Argentina, Brazil, Chile, Colombia, El Salvador, Guatemala, Honduras,
Mexico, Nicaragua, Peru, Venezuela and Costa Rica.
Subsidiaries of Procter
& Gamble Company:
Alejandro Llauro E. Hijos
S.A.I.C. [Argentina]
Anjali (HK) Corporation
Limited [Hong Kong]
Anjali Corporation [Delaware]
An-Pro Company [Ohio]
B&C International Co.
(BVI) Ltd. [British Virgin Islands]
Betrix Cosmetic GmbH
[Germany]
Blendax
Unterstutzungskasse GmbH [Germany]
Carlos BT [Hungary]
Celtic Insurance Company
Limited [Bermuda]
Cheladerm, Inc.
[Delaware]
Clairol (China) Ltd.
[China]
Clairol Brasil Higiene e
Cosmeticos Ltda [Brazil]
Clairol Limited [U.K.]
Clairol Peru S.R.L.
[Peru]
Compania Procter &
Gamble Mexico, S. de R.L. de C.V. [Mexico]
Compania Quimica S.A.
[Argentina]
Comunivers sa [Morocco]
Corpydes S.A. de C.V.
[Mexico]
Crest Toothpaste Inc.
[Canada]
Detergent Products A.G.
[Switzerland]
Digibrands S.p.A. [Italy]
District Pet Imaging, LLC
[Ohio]
Eczacibasi Yatirim
Holding Ortakligi A.S. [Turkey]
Elysee BT [Hungary]
Eurocos Cosmetic GmbH
[Germany]
Eurocos Cosmetic
Warenvertrieb GmbH [Austria]
Eurocos Ltd [U.K.]
EURO-Juice G.m.b.H.
Import und Vertrieb [Germany]
European Beauty Products
(U.K.) Limited [U.K.]
Ferraris BT [Hungary]
Foreign Company
"Procter & Gamble" [Belarus]
Fountain Square Music
Publishing Co., Inc. [Ohio]
Frank BT [Hungary]
Gala Cosmetics
International Limited [U.K.]
Gala of London Limited
[U.K.]
Giorgio Beverly Hills,
Inc. [Delaware]
Girl Cosmetics Limited
[U.K.]
Global Business Services
de Costa Rica Limitada [Costa Rica]
Herve Leger Parfums GmbH
[Germany]
Humatro Corporation
[Delaware]
Hyginett KFT [Hungary]
Iams (Deutschland)
Vertriebs GmbH [Germany]
Iams Argentina S.A.
[Argentina]
Iams Australia/New
Zealand Pty. Ltd. [Australia]
Iams Canada Inc. [Canada]
Iams Chile Limitada
[Chile]
Iams Companion Animal
Research Institute, Inc. [Ohio]
Iams do Brasil Comercial,
Exportadora e Importadora Ltda. [Brazil]
Iams Europe B.V.
[Netherlands]
Iams Global, Inc. [Ohio]
Iams Japan K.K. [Japan]
Iams Mexico, S. de R.L.
de C.V. [Mexico]
Iams New Zealand Limited
[New Zealand]
Iams Pet Food
International N.V. [Netherlands]
Iams Pet Imaging, Inc.
[Ohio]
Iams Pet Imaging, LLC
[Ohio]
Iams S. Africa Pty. [S.
Africa]
Iams Servicios, S. de
R.L. de C.V. [Mexico]
Iams U.K. Limited [U.K.]
Industrial Catenation
Services (Pty.) Ltd. [S. Africa]
Industrias Modernas, S.A.
[Guatemala]
Inmobiliaria Procter
& Gamble de Venezuela, S.C.S. [Venezuela]
Inmobiliaria Procter
& Gamble de Venezuela, S.R.L. Venezuela]
Inversiones Industrias
Mammi, S.C.A. [Venezuela]
Inversiones Industrias
Mammi-1, S.R.L. [Venezuela]
Inversiones Procter &
Gamble de Venezuela, S.C.A. [Venezuela]
Inversiones Procter &
Gamble de Venezuela-1, S.R.L. [Venezuela]
Juvian Fabric Care
Corporation [Ohio]
Kangra Valley Enterprises
Ltd. [Delaware]
Komal Manufacturing
Chemists Ltd. [India]
Liberty Street Music
Publishing Company, Inc. [Ohio]
Loreto y Pena Pobre, S.A.
de C.V. [Mexico]
Malabar (HK) Corporation
Limited [Hong Kong]
Marcvenca Inversiones,
C.A. [Venezuela]
Max Factor & Co.
(U.K.) Ltd. [Bermuda]
Max Factor & Co.
[Delaware]
Max Factor K.K. [Japan]
Max Factor Limited [U.K.]
Midway Holdings Ltd.
[Cayman Islands]
Millstone Coffee, Inc.
[Washington]
Modern Industries Company
- Dammam [Saudi Arabia]
Modern Industries Company
- Jeddah [Saudi Arabia]
Modern Products Company -
Jeddah [Saudi Arabia]
Moroccan Modern
Industries [Morocco]
Neoblanc-Produtos de
Higiene e Limpeza Lda. [Portugal]
Novomoskovskbytkhim
[Russia]
Noxell (Barbados) Limited
[Barbados]
Noxell (Thailand) Limited
[Thailand]
Noxell Corporation
[Maryland]
Olay Company, Inc.
[Delaware]
Olga BT [Hungary]
OOO Procter & Gamble
Services Company [Russia]
P&G-Clairol, Inc.
[Delaware]
P&G C&CA, Inc.
[Ohio]
P&G Consultoria E
Servicos Ltda. [Brazil]
P&G do Brasil
Comercial Ltda. [Brazil]
P&G Holding B.V.
[Netherlands]
P&G Holding Company
S.R.L. [Argentina]
P&G Investments
Limited [Costa Rica]
P&G Israel M.D.O.
Ltd. [Israel]
P&G K.K. [Japan]
P&G Northeast Asia
Pte. Ltd. [Singapore]
P&G Prestige Beaute
GmbH [Germany]
P&G Prestige Beaute
S.A.R.L. [Switzerland]
P&G Servicios S.A.
[Argentina]
P.T. Procter & Gamble
Indonesia TbK [Indonesia]
P.T. Procter & Gamble
Home Products Indonesia [Indonesia]
Papierhygiene GmbH
[Germany]
PFX Pet Supply, Inc.
[Ohio]
PGV Chile S.A. [Chile]
PPProducts SARL [Switzerland]
Procter & Gamble
(Chengdu) Ltd. [PRC]
etc.
COMPANY NAME COUNTRY RELATION
PROCTER & GAMBLE
INDUSTRIAL 1 SRL VENEZUELA
Related
PROCTER & GAMBLE
TENEDORA, SA VENEZUELA Parent
Co.
BUSINESS
MAIN ACTIVITY .-
Manufacture,
commercialization, import, purchase, sale of house cleaners, personal hygiene
products, toiletries, over-the-counter medicines, foodstuffs and industrial
products in general. It produces: diapers and women's sanitary pads, while
products as soaps, shampoo, toothpaste, which it formerly manufactured are
being imported. It also is engaged in
representation of manufacturers.
Brands:
*Deodorants: Old Spice,
Secret, Sure, Mum
*Diapers and baby
products: Baby Fresh, Kid Fresch, Luvs, Pampers, Wash a bye baby
*Foods and beverages:
Eagle snacks, café Folgers, Hawaiian Punch, Jif. Millstone
Coffee, Olean/Olestra, Pringles, Puritan Oil,
Sunny Delight, Tender Leaf Tea.
*Perfumes: Giorgio, Hugo
Boss, Laura Bagiotti, Old Spice, Red, Venezia, Wings, Lacoste, Gucci
*Hair care: Head &
Shoulders(H&S), Ivory, Pantene, Pert, Physique, Prell, Vidal Sasson,
Clairol, Wella.
*Women's hygiene: Always,
Tampax, Attends.
*Laundry and cleaning:
Briz, Bold, Bounce, Cascade, Cheer, Cinch, Comet, Dash, Dawn, Downy, Era,
Ivory, Joy, Maestro Limpio, Tide, Ariel, Salvo, Ace, Rapido, Magia Blanca.
*Medicines: Day Quil,
Metamucil, NyQuil, Pepto Bismol, Percogesic, Therma Care, Vicks Vapo Rub
* Teeth care:
Cloraseptic, Crest
*Toilet paper: Banner,
Bounty, Charmin, Puffs, Royale, Summit, Bess, Tempo
*Soaps: Camay, Coast,
Ivory, Safeguard, Zest, Fairy.
*Beauty products: Max
Factor, Cover Girl, Oil of Olay
*Pet foods: Iams and
Eukanuba
IMPORT : Yes Mexico, Colombia and Chile
EXPORT : Yes The Caribbean, Colombia, Brazil, Peru, Mexico
% CREDIT SALES/TERMS : 100% 30 days
% FOREIGN SALES(COUNTRIES): 5%
% DOMESTIC PURCHASES : Yes
% FOREIGN PURCHASES : Yes
SELLING TERRITORY : Domestic market: 95%
EMPLOYEES : 1,500 approx.
FACILITIES -
Condition : Modern facility
Use
: Captioned address is Corporate Offices /
Headquarters*
Remarks
and other Premises -
*Building was built in 1997,
with an investment of US$46 millions.
Plant Nº1: Calle B-2 con
Calle Divard, Zona Industrial, Barquisimeto, state of Lara.
Tel: (58 251) 69.2622.
Plant Nº2: Calle La
Arenera Parcela Nº 2, Edificio Procter & Gamble, Parcela Nº2, Zona
Industrial Las Delicias, Guatire, state of Miranda. Tel: (58 212) 340.3000. Own
facility.
COMMENTS -
In year 1998 subject
divested from the MAMMI line of products (diapers), replacing it with the
PAMPERS line at a cost of USD 8 millions. Said brand represented a 60% of the
sales of the plant of Guatire.
FINANCIAL INFORMATION
The information contained
on report was obtained from outside sources. Requests submitted to the main
directors of the company stay unanswered.
For your reference we
include in report the Consolidated Balance Sheet of PROCTER & GAMBLE AND
SUBSIDIARIES dated December 31st., 2006.
THE PROCTER AND GAMBLE
COMPANY AND SUBSIDIARIES
Amounts in Million
USD
Consolidated Balance Sheet
Information
31.12.2006 30.06.2006
CASH AND CASH EQUIVALENTS 4,987 6,693
INVESTMENTS SECURITIES 521 1,133
ACCOUNTS RECEIVABLE 7,523 5,725
TOTAL INVENTORIES 6,883 6,291
OTHER 4,775 4,487
TOTAL CURRENT ASSETS 24,689 24,329
NET PROPERTY, PLANT AND EQUIPMENT 19,096 18,770
NET GOODWILL AND OTHER INTANGIBLE
ASSETS 89,805 89,027
OTHER NON-CURRENT ASSETS 3,710 3,569
TOTAL ASSETS
137,300 135,695
ACCOUNTS PAYABLE 4,490 4,910
ACCRUED AND OTHER LIABILITIES 10,628 9,587
TAXES PAYABLE 3,643 3,360
DEBT DUE WITHIN ONE YEAR 12,533 2,128
TOTAL CURRENT LIABILITIES 31,294 19,995
LONG-TERM DEBT 23,650 35,976
OTHER 16,992 16,826
TOTAL LIABILITIES 71,936 72,787
TOTAL SHAREHOLDERS' EQUITY 65,364 62,908
TOTAL LIABILITIES &
SHAREHOLDERS' EQUITY 137,300 135,695
REVENUES 68,222
PROFIT 8,684
PAYMENTS RECORD
TRADE REFERENCES -
Monthly
Average Terms(days)) Performance? Time
Products/Services Supplier
1 US$ Mid 3 figures BkTransfer 5 Prompt 7 years Liquid sodium silicate Domestic
COMMENTS
-
We contacted two other
potential suppliers:
1. Flexoven S.A. Tel:
58-241-8347535
Reported they do not work with subject since
more than 3 years ago.
2. Litoveca Tel: 58 291
6420534
Do not have record of subject as a client on
credit basis.
LIST OF DOMESTIC SUPPLIERS –
Suppliers
listed Alphabetically. There is not
relationship as for the order above
Supplier
Telephone
RHODIA SILICES 58-251-2690668
BANKING INFORMATION
BANKERS
Bank Account #
BANCO VENEZOLANO DE
CREDITO 049-000000-3
A detailed reference was
unavailable per policy of the above named banking entity.
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)