MIRA
INFORM REPORT
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Report Date : |
23.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
METINVEST
INTERNATIONAL SA |
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Formerly Known as : |
LEMAN
COMMODITIES SA |
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Registered Office : |
Rue Vallin 2 1201 Geneve/GE |
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Country : |
Switzerland |
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Date of Incorporation : |
04.04.1997 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Trader in Steel, Mainly from Ukrainian Mills |
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 : |
No Complaints |
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Litigation : |
Clear |
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overall
assessment: |
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Well established company
without any complaints. |
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detail
assessment: |
payments: |
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We have no about payment
delay. |
Name of the company
Metinvest
International SA
Line of Business
Commerce
d'aciers
Legal domicile
Rue Vallin 2
1201 Geneve/GE
Switzerland
Telephone: 022 9061828
Fax: 022 9061829
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: 04-04-1997
First
Publication: 18-04-1997
Last
Publication: 23-01-2008
Share
capital: 50.000.000
Paid up: 50.000.000
Divided
into: 50.000 Registered shares of 1.000
History: 23-01-2006 50.000.000 Capital increase
29-07-2002
7.500.000 Capital increase
100.000 Capital by incorporation
Direct Parent
com.: Metinvest BV, Amsterdam,
Netherlands/NL with a share of 100.
Company
Management: Andrey Parkhomchuk
Registered
name 12-12-2007
Metinvest International SA
Previous
Leman Commodities SA
ACTIVITY
Activity:
Leman
Commodities SA is devoted to the trade in steel, mainly from Ukrainian mills.
The Company
has exclusive export agreements with major Ukrainian mills, such as Azovstal
and Enakievo.
Major trading
markets of Metinvest International are the Middle and Far East, Africa, Europe
and the Americas.
Sales growth
over the past few years in metric tonnes:
2005:
9'569'256
2004:
9'631'561
2003:
6'709'700
2002:
4'998'301
2001:
5'142'278
2000:
4'583'577
Products:
Leman
Commodities SA supplies the following groups of products:
- Iron Ore
- Pig Iron
- Slabs
- Billets
- Rebars
- Wire rods
- Rails
- Profiles
- Plates
- Coils
- Structurals
- Oil and gas
line pipes
Locations:
In addition to Geneva Leman Commodities has
representative offices in Donetsk/Ukraine, Moscow/Russia, Istanbul/Turkey,
Beyrouth/Lebanon, Beijing/China, Shanghai/China, Singapore, Santo
Domingo/Dominican Republic, Belgrade/Serbia and Montenegro, Teheran/Iran,
Vilnius/Lithuania, Abuja/Nigeria, Assago/Italy, Atmaty/Kazakhstan,
Ashkhabad/Turkmenistan and Khartoum/Sudan.
EMPLOYEES
Number of
employees: 57
Including the
subsidiaries, the total of employees is over 200 persons.
PAYMENT AND FINANCIAL DATA
PAYMENT
EXPERIENCES:
Legal
actions: No legal actions,
distraints or loss certificates registered.
Report from 13-11-2003,
in 1200 Geneve.
Report from 04-08-2003,
in 1200 Geneve.
Report from 30-01-2003, in 1200 Geneve.
A current
check of the legal actions requires a document of
justification
with a legitimate signature..
There are no
complaints about the mode of payment and business conduct.
FINANCIAL DATA:
Financial
position: The financial affairs are
considered good and in order.
Key figures
(in USD 1.000):
31.12.2006 31.12.2004
31.12.2003 31.12.2002
Sales 3'467'945.5 3'843'964.0
1'805'479.0 1'021'245.5
Leman Commodities
SA is now the largest exporter of steel products from
Ikraine with
annual sales in excess of 3'800'000'000 US Dollars.
In 2004 alone,
Leman Commodities SA exported in excess of 11.1 million
metric tons of
steel.
Banker(-s)
UBS Ltd, 1200
Geneve
Credit Suisse
(CS), 1200 Geneve
BNP Paribas
(Suisse) SA, Geneve
Auditors
BDO International 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.: Metinvest BV, Amsterdam,
Netherlands/NL with a share of 100.
In October
2005, Leman Commodities SA (which has become Metinvest International SA) was
acquired by the Dutch company METINVEST BV, which in turn is fully owned by
SYSTEM CAPITAL MANAGEMENT (SCM), based in Donetsk (Ukraine).
Founded in
2000, the company SCM is a major industrial holding, which plays a vital role
in economics in the Ukraine and Eastern Europe.
The SCM Group
directly and indirectly controls more than 90 companies with activities in
steel and coal, production and distribution of energy, insurance and banking,
food and beverages catering and gastronomy services.
In addition
SCM is also major sponsor of the football club "FC Shakhtar", which
regularly participates in UEFA Cup and the Champions League.
SCM employs
160'000 persons and belongs totally to the Ukranian oligarch Rinat Akhmetov and
his wife (wealth estimated more than USD 4 milliard).
BOARD OF
DIRECTORS:
Andrey Parkhomchuk, from
Russia, in
Donetsk/Ukraine,
President, sole
signature.
Patrick Burki, from
Geneve, in
Barbengo/TI/Switzerland,
Member.
Raymond Liefooghe, from
Geneve, in
Geneve/GE/Switzerland,
Member, sole signature.
Sergiy Novikov, from
Ukraine, in Donetsk/Ukraine,
Member.
Joseph Eric Riedweg,
from Geneve, in
Confignon/GE/Switzerland,
Member, sole signature.
MANAGEMENT:
Elena Karnakova, from
Geneve, in
Geneve/GE/Switzerland,
Authorised signatory,
collective signing
authority.
Mar'yan Maksymovych,
from Ukraine, in Geneve/GE,
Authorised signatory, collective signing
authority.
Lasma Osina, from
Latvia, in Gilly/VD/Switzerland,
Authorised signatory,
collective signing
authority.
Viktor Vukusic, from Serbie, in
Geneve/GE/Switzerland,
Authorised signatory,
collective signing
authority.
PERSONNEL INFORMATION:
Andrey
Parkhomchuk and Sergiy Novikov have no other assignement in
Switzerland.
Raymond Liefooghe is former general director of UEB United European Bank in
Geneva.
Joseph Eric
Riedweg, born on the 31 January 1949, is a certified accountant by profession.
In addition he is the founder and sole board member with individual signature
of Audiconsult SA, at the address Rue
du Cendrier 15
in Geneva. He features on the board of more than 40 companies.
FURTHER MANDATES
Patrick Burki:
- Connecting
Nature Sarl, Geneve
Raymond
Liefoogh:
- SUCAFINA INGREDIENTS
SA, Geneve
- Sucafina SA,
Geneve
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%)