MIRA
INFORM REPORT
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Report Date : |
13.09.2007 |
IDENTIFICATION DETAILS
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Name : |
ORICA CANADA INC. |
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Registered Office : |
301 Hotel De
Ville, |
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Country : |
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Date of Incorporation : |
1998 |
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Legal Form : |
Federally
Chartered Corp. - Private |
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Line of Business : |
Manufacturer of
explosives primarily for the mining industry. |
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 : |
Exists |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name: ORICA
CANADA INC.
Address: 301
HOTEL DE VILLE
City: BROWNSBURG
State/Province:
Zip Code: J8G
3B5
Country:
Telephone: 450-533-4201
Facsimile: 450-533-1329
Founded
(D/M/Y): / /1998
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of Employees:
600
Legal Form: Federally
Chartered Corp. - Private
Website: www.orica.com
Business Activity: The Company is a manufacturer of
explosives primarily for the mining industry.
NOTE TO CLIENT
Person
Contacted: Mr. Michel Leblanc, Finance
Manager. He verified and updated the
information presented to him.
LEGAL
Legal Form: Federally
Chartered Corp. - Private
Since (D/M/Y): 01/10/2005
State/Province of
Incorporation:
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
The Company
federally Chartered in
Corporation #4325974
BN #867220899RC0002
Corporation Name(s):
ORICA CANADA INC.
Mailing Address:
[Latest address on file]
Care of:
Street: 199 BAY
STREET
City:
Province:
Postal Code: M5L1B9
Country:
Registered Office Address:
[Latest address on file]
Care of:
Street: 199 BAY
STREET
City:
Province:
Postal Code: M5L1B9
Country:
Reg. Off. Eff:
2005/10/01
Status : Active
Amalgamation Date
2005/10/01
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The Company
provincially qualified in
File Number:
1147489141
Legal Name: ORICA
CANADA INC.
Incorporation Date:
1/30/1998
Last Annual Report:
3/21/2006
Location:
Address: 199, BAY
STREET
Managers/Key
Personnel
Mr. Don Brinker President
Mr. Joseph
Keenen Vice President
Mr. Peter
Watson Secretary
Mr. W. Cluny
Randell Vice President
Mr. Michel
Leblanc Finance Manager
AFFILIATED ENTITIES
The following is a
sample of affiliated entities.
Incitiec Pivot
Limited
Orica Australia Pty.
Ltd.
Orica Chemnet
Orica
Orica USA Inc.
Orica Explosives
Latin America
PTY Ltd & Co KG
Selleys Chemical Co
NZ Ltd.
MSW-Chemie GmbH
Parent Companies
Parent Company: ORICA EXPLOSIVES HOLDINGS PTY LTD.
Ultimate
Parent: ORICA LTD.
VIC
The following is
selected stock price and financial statement information for the ultimate
parent company, ORICA LTD., which trades on the Australian Stock Exchange under
the symbol ORI.
As of 9/12/2007 (in
Australian Dollars)
Stock Price: 28.02
52 Week High: 34.86
52 Week Low: 20.70
Fiscal Year End
September 30, 2006, in US Dollars
Net Assets: $5,709,000,000
Net
Liabilities: $3,040,800,000
Net Equity: $2,668,200,000
Net Sales: $4,745,600,000
Net Income: $
253,800,000
The Company has no
subsidiaries.
BANKS
Bank of
Telephone: (416)
701-7272
Facsimile: (416)
933-2462
Account Number:
CAD-614320027715/USD-6143
Account Manager:
Account Opened: For
more than 3 years
Account Balance: Low
8 figures
No Returned Checks
Line of Credit:
Medium 7 figures
Utilized: Low 5
figures
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
------------------------------------------------------------------------------
Whlsl-Ind Mach Sppls:
*Sep 0 29 29
0 29 0
0
Cntr-Plmbng-Heat-Air:
*Sep 0 24,921 24,921
7,179 17,742 0
0
FORD CREDIT: 905-469-4466 DLA-2007/08/08 370, Net
30 Days #
*Sep Feb/2005 0 11,700 1,950
1,950 0 0
0
Wholesale-Chemicals:
*Sep 0 23,374
20,880 12,551 0
8,329 0
Mfr-Paint, Varnishes:
*Sep 0 238K 238K
158K 80,351 0
0
Mfr-Paper Box:
*Sep 0 47,000 12,569
12,569 0 0
0
Mfr-Plastic:
*Sep 0 85,919 85,919
49,394 36,525 0
0
Whlsl Ferrs Nonferrs: DLA-2007/07/20
*Aug Oct/1999 300K Mar/2006 218K
140K 140K 0
0 0
INTERSAN CWS INC: 905-669-7166 Merged accts
*Aug 0 4,619 4,619
1,417 3,188 14
0
Transportation Serv: Merged accts
*Aug 0 8,631 8,631
4,332 3,283 1,016
0
Whlsl-Ind Mach Sppls:
*Aug 0 2,864
2,864 1,151 1,713
0 0
Transportation Serv:
*Aug 0 538 538
308 230 0
0
Services-Employment:
*Jul 0 4,749 4,749
0 0 1,561
3,188
Mfr-Petroleum Prdts: Merged accts
*Jul 0 84,259 84,259
72,209 12,050 0
0
Transportation Serv:
*Jul 0 2,540 2,540
2,540 0 0
0
Whlsl-Durable Goods:
*Jul
0 23,333 20,480
6,195 9,708 4,239
338
Whlsl-Professnl Equp:
*Jul 0 9,709 9,709
0 9,709 0
0
Whlsl-Farm Supplies:
*Jun 0 27,440 27,440
13,296 14,144 0
0
Mfr-Engine:
*Jun 0 1,706 444
0 0 0
444
------- -------
------- ------- ------- -------
P.I. =
11 90 Days 820K
691K 483K 188K
15,159 3,970
Reported ------- ------- ------- ------- -------
-------
Business Services:
*Jun 0 1,240 1,240
1,240 0 0
0
Trucking:
*Jun 0 10,190 10,190
5,672 4,067 200
251
Transportation Serv:
*May 0 25 25
1 24 0
0
Mfr-Rolling Mill Mac:
*May 0 87 87
87 0 0
0
Whlsl-Constr/Mine Eq:
*May 0 8,499 8,499
4,702 3,797 0
0
Whlsl-Ind Mach Sppls:
*May 0 1,754 1,754
280 688 0
786
Arrg Transp of Freig:
*Apr 0 50 50
50 0
0 0
Whlsl-Ind Mach Sppls: Merged accts
*Apr 0 1,739 1,739
1,022 30 687
0
Manufacturing Indust:
*Apr 0 11,477 1,100
0 0 0
1,100
Whlsl Ferrs Nonferrs: Pays 30/45 d
*Mar 0 201K 131K
131K 0 0
0
Mfr-Pump &
Pumping E:
*Feb 0 25 25
0 0 0
25
Mfr-Audio/TV Equip:
*Jan 0 1,000 79
8 71 0
0
Manufacturing Indust:
*Jan 0 226 226
0 226 0
0
Whlsl-Electronic Pts:
*Dec 0 749 749
749 0 0 0
Mfr-Elctrnc Compnent:
*Nov 0 1,000 414
0 0 414
0
Wholesale-Elec Equip:
*Nov 0 9,754 9,754
9,754 0 0
0
Trucking:
*Oct 0 1,004
1,004 1,004 0
0 0
------- -------
------- ------- ------- -------
P.I. =
10 Total 1,071K
859K 639K 197K
16,460 6,132
Reported ------- ------- ------- ------- -------
-------
PAYMENT TRENDS
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Payment C.I.
Number of Total Current Overdue
Quarters
Index Score Suppliers
Owing $ 1st
2nd 3rd
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2 Qtr/2007
17 21 25
764,710 425,918 320,415
7,100 11,277
1 Qtr/2007
7 24 23
696,379 565,018 127,314
2,853 1,194
4 Qtr/2006
8 4 23
623,996 493,109 117,170
10,191 3,526
3 Qtr/2006
9 10 25
611,110 484,447 116,461
2,899 7,303
2 Qtr/2006
18 10 22
661,617 441,613 120,992
91,096 7,916
1 Qtr/2006
34 9 20
489,537 277,897 85,838
18,291 107,511
4 Qtr/2005
8 4 20
441,288 355,574 65,330
19,205 1,179
3 Qtr/2005
16 4 25
825,076 482,305 315,106
27,521 144
2 Qtr/2005
2 4 16
545,150 516,994 24,685
3,471 0
FINANCIAL INFORMATION
Mr. Leblanc declined
to provide financial statement information over the phone, however, he did
accept a fax request. If we receive a
response, we will amend the report accordingly.
CURRENT OPERATIONS
NAICS Code: 327999
All Other Miscellaneous Nonmetallic Mineral Product
SIC Code: 3299
Number of
Employees: 600
Business Activity:
The Company is a
manufacturer of explosives primarily for the mining industry.
The Subject imports
and exports worldwide.
Products the Company
manufactures include cap blasting and cord assembly equipment.
The heading address
is the sole location for the Subject.
The facility consists of 450 acre campus of owned office, manufacturing,
and warehouse space.
PUBLIC RECORD
A search of public
revealed the following action against the Company and no bankruptcy petitions.
We could not determine the status of the action at this time.
Writ of Summons:
Defendant ORICA CANADA INC Date Feb 12, 2007
Plaintiff
Amount 1,763,884 Location
Reason Damages File # 035213076
GENERAL COMMENTS
The Subject,
federally chartered in
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. |
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%)