MIRA
INFORM REPORT
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Report Date : |
02.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
CLARIANT VENEZUELA S.A. |
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Registered Office : |
Av. Anton Philips, Zona Industrial San
Vicente I, Edificio Clariant Maracay, Estado de Aragua |
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Country : |
Venezuela |
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Date of Incorporation : |
16.07.1965 |
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Legal Form : |
Joint-Stock Company |
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Line of Business : |
Producing and Trading Chemicals for
Diverse Industries: Petroleum, Pharmaceutical, Cosmetics, Medical-Surgical,
Veterinary, Agriculture, Sausages and Detergents. |
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 : |
Regular |
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Litigation : |
Clear |
IDENTIFICATION
CORRECT COMPANY NAME : CLARIANT VENEZUELA
S.A.
TAXPAYER REGISTRATION : RIF J-00046078-7 OPERATING STATUS: Active
MAIN ADDRESS : Av. Anton Philips,
Zona Industrial San Vicente I, Edificio
Clariant
CITY/PROVINCE/STATE : Maracay, Estado de
Aragua
COUNTRY : VENEZUELA
TELEPHONE : (58243)550.3111/553.6217/553.6237
FAX : (58243)550.0127
E - MAIL : carlosahumada@clariant.com
WEB SITE : www.clariant.com
SUMMARY
Incorporation : 1965 Operating
Status : Active
Last Capital : Bs.7,344,000,000.= Bolívares
Finantial Situation : UNDETERMINED
Employees : 400
Rating : Lightly Satisfactory
Payments : Usually to terms/good
QUALIFICATION
RATING : Lightly Satisfactory
PAYMENTS : Usually to
terms/good
LEGAL BACKGROUNDS
LEGAL STATUS : Joint-Stock
Company
DATE OF INCORPORATION : 16JUL1965
REGISTERED IN : Caracas - Registry
of Companies I (*)
DURATION : 60 years
REGISTRATION : Nº19, Volume 35-A, File 26599
INITIAL CAPITAL : Bs.1,000,000
Bolívares (old Bolívares)
CURRENT PAID-IN CAPITAL :
Bs.7,344,000,000
Bolívares (old Bolívares)
LAST CAPITAL INCREASE : No specified
TYPE OF SHARES : Face value
LISTED AT STOCK EXCHANGE : No
SHARE VALUE : Bs.F.1 Bolívar
Fuerte
CURRENT EXCHANGE RATE : Bs.F.2,15 per USD1
COMMENTS .-
(*) Subject was originally
formed in the City of Caracas under the name QUIMICA HOECHST REMEDIA S.A. On
September 22, 1988, it changed its name to HOECHST DE VENZUELA S.A. and at the
beginning of February 1998, it changed again its name. According to the Meeting
held on April 6, 2000, they agreed to move the registered office to the state Aragua,
being entered in the City of Maracay.
Capital stock has increased as follows over the past 10 years.
Bs. 530,036,000
December 1995
Bs. 465,439,000 May 1996
Bs.1,375,826,000 November
1996
Bs.6,578,626,000 May 1999
Bs.6,588,626,000 August 1999
Bs.7,344,851,000 August 2001 - fully paid-in
Board of Directors appointed
on June 7, 2006 for a period of one year.
HISTORY
GRUPO HOECHST started operating in Venezuela in October 1952 as a
representation firm to distribute and sell products manufactured by the Parent
Company FRANKFURT. Years later, in 1965, it was formed as an industrial company
under the name QUIMICA HOECHST REMEDIA, (a stock company) founded by HOECHST REMEDIA.
In September 1988, Subject merged the firm INDUSTRIAS QUIMICAS CARABOBO
C.A. In October, it merged the firm TROS VENEZOLANA S.A.
In June 2006, they agreed to incorporate Subject into the Program of
Companies supplying Goods and Services (EPS, abbreviated in Spanish) promoted
by the Executive and PDVSA.
DIRECTORS / EXECUTIVES /
SHAREHOLDERS
FULL NAMES / COMPANY NAME TITLE OWNERSHIP %
MARTINS, GUNTHER Director
WALDE, ANDREAS Director
WEST, PIERRE Director
TORDELMAN, MATHIAS Director
KATSCHER, CHRISTIAN Director
CLARIANT INTERNATIONAL AG Shareholder 100%
WHO IS WHO ?
MARTINS, GUNTHER
NATIONALITY : German
DOC. OF IDENT. : PAS. L3773818
Associated as per our database to :
Company Title Tax. Reg. Country
CLARIANT GUATEMALA S.A. President Latin Amer 1013785-8 GUATEMALA
WALDE, ANDREAS
NATIONALITY : Swiss
DOC. OF IDENT. : PAS. F-1440227
Associated as per our database to :
Company Title Tax. Reg. Country
CLARIANT ARGENTINA S.A. Director 30-59462341-6
ARGENTINA
WEST, PIERRE
NATIONALITY : Swiss
Associated as per our database to :
Company Title Tax. Reg. Country
CLARIANT TRADING (PANAMA) SA Vice President
540810150329961 PANAMA
TORDELMAN, MATHIAS
NATIONALITY : Swiss
DOC. OF IDENT. : PAS. 4189063467
KATSCHER,
CHRISTIAN
NATIONALITY : Chilean
Associated as per our database to :
Company Title Tax. Reg. Country
HARTING REPRESENTACIONES S.A. General Manager 96.833.690-8 CHILE
CLARIANT
INTERNATIONAL AG
CLARIANT is a worldwide organization and a
leader in chemical specialties with 135
years of experience. The company was born in
1995 as an independent one from the
scission of the sector of Sandoz' special
chemical products. It became part in 1997 of
the Hoechst Division of Chemical Specialties
and now operates with over 100 companies
on the five continents. Clariant presents a
sales volume per annum of CHF 8.5 billions
and works with 20.000 collaborators. The
world main office is located in Muttenz,
Switzerland.
Gathering hundreds of years of acquired
knowledge
Clariant, with its main office in
Switzerland, is currently one of the biggest
international corporations in the field of
chemistry. It initiated its activities as an
independent company in July 1995. Until
then, it has been a division of Sandoz' special
chemical products, a company founded in 1886
when Alfred Kern and Edouard Sandoz
constituted a manufacturing company of
textile dyes.
In 1997, Clariant joined the world level
businesses of Hoechst's chemical specialties,
which also had gone through a restructuring
process. Hoechst is a one hundred year
company, which was founded in Germany in
1863.
RELATED COMPANY(IES)
COMPANY NAME COUNTRY TAX.REG.
RELATION
AGREVO DE VENEZUELA SA VENEZUELA Related
CLARIANT (MEXICO) S.A. DE C.V. MEXICO CME-950712-3M7
Related
CLARIANT ARGENTINA S.A. ARGENTINA 30-59462341-6 Related
CLARIANT CONSULTING LTD. SWITZERLAND Related
CLARIANT GUATEMALA S.A. GUATEMALA 1013785-8 Related
CLARIANT INTERNATIONAL AG SWITZERLAND Parent Co.
CORINTA SCHWARZKOPF VENEZUELA Related
HOECHST DEL URUGUAY SA URUGUAY Related
HOECHST DO BRASIL QUIMICA E FARMACEUTICA S
BRAZIL Related
HOECHST DOMINICANA S A DOMINICAN RE
101028777 Related
HOECHST MARION ROUSSEL SA COLOMBIA Related
HOECHST MARION ROUSSEL SA PARAGUAY HMRA-978330K Related
SF CHEM AG SWITZERLAND Related
TROS VENEZOLANA SA VENEZUELA J-3039962-4
Related
BUSINESS
MAIN ACTIVITY .-
Subject is dedicated to producing and
trading chemicals for diverse industries:
Petroleum, pharmaceutical, cosmetics,
medical-surgical, veterinary, agriculture,
sausages and detergents.
Subject operates under four divisions:
Pigments and Additives
Textile, Leather & Paper Chemicals
Functional Chemicals
Masterbatches
Main products: Resins, nonylphenol,
diuretics, syringes, lint, catheter, biological
line, hair dye, shampoos, herbcides,
fungicides, antibiotics, endoparasites,
hormones.
Subject is a 100% wholesaler.
IMPORT
: Yes (from Germany, Brazil, USA, Mexico and Colombia)
EXPORT
: Yes (to Colombia, Peru, Brazil, Mexico)
% CREDIT SALES/TERMS :
100% - within 30 and 60 days
% FOREIGN SALES(COUNTRIES) :
15%
% DOMESTIC PURCHASES :
41%
% FOREIGN PURCHASES :
59%
SELLING TERRITORY : Domestic market -
85%
EMPLOYEES : 400
FACILITIES .-
Premises : Own
Area : 30,000 m2
Condition : Industrial sheds and offices; concrete material
Use : Headquarters, industrial plant and warehouse
Remarks and other Premises .-
Facilities are located in an industrial
area.
Other Industrial Plants:
I Etapa de la Zona Industrial de Maracaibo,
Calle 148 detras del Centro Comercial
Norte, detrás del Centro Comercial NASA al
lado de Costa Norte Construcciones CA,
Municipio San Francisco, Maracaibo, Estado
de Zulia.
- Formulations for the Petroleum Industry:
Punta Camacho, Santa Rita, Zulia
- El Tigre: Anzoátegui
COMMENTS .-
Subject imports raw material. Overseas
suppliers have extended credits within 60 and
180 days through CADIVI.
Sales are oriented to Chemical sector.
Portfolio comprises around 1,200 client, among
them:
- SULINTEX DE VENEZUELA
- MAVESA
- QUIMICAS CARACAS
- DALBERT INTERNATIONAL
- PAPELES VENEZUELA
Competitors:
- HENKEL VENEZOLANA
- ARCCH
- ABBA
Production
- Operating capacity : 38.157
tons / year
- Used capacidad : 80%
Subject Company has been ISO
9002 certified.
Clariant Venezuela is a
leading company in the chemical specialties manufacturing and
is compromised with the
protection of the environment and the communities where it is
located, harmonizing the
development of production activities with the legitimate right
of future generations to live
in a decent environment.
Clariant is committed with the
strict compliance with local laws and regulations, as
well as the applicable
corporate principles regarding the environment, security and
health.
All of our products, processes
and services go through a constant revision in order to
minimize the impact of our
activities, thus avoiding harming people while protecting
the soil, the quality of the
water, the biodiversity and the nature as a whole.
The application of this policy
is a main objective of the Management and is
responsibility of every
employee of Clariant Venezuela.
FINANCIAL INFORMATION
No information could be obtained from
Subject directly. They argued internal policies
of the Company did not allow to disclose
information.
Therefore, all the information herein, has
been obtained from reliable external sources
like databases and official where we got an
extract of the Consolidated Balance
Sheet of CLARIANT GROUP for the Fiscal Year
ended as of December 31, 2007 and December
31, 2006, expressed in Swiss Francs as
follows:
FINANCIAL SITUATION : UNDETERMINED
Financial standing is considered
intedeterminate since no independent Balance Sheets
were found to analyze the current standing
of this Company.
PROPERTIES OF THE COMPANY .-
They include:
Facilities where Subject operates
Machinery and equipment
Furniture and fixtures
Computers
INSURANCE .-
Unknown.
PAYMENTS RECORD
TRADE REFERENCES .-
Line of Credit _ Monthly
Average _ Terms(days)) Performance? _ Time _ Products/Services Supplier
1 Bs Open Mid 6 figures Bank Transf/ Prompt Jan.2007 Raw material Domestic
2 US$ 250,000 US$ 130,000 Check/30 day
Prompt 1980 Raw material Domestic
COMMENTS .-
Other local suppliers were consulted but
they did not provide our request for
reference.
LIST OF DOMESTIC SUPPLIERS .-
Suppliers listed Alphabetically. There is not relationship as for the order
above
Supplier _ Telephone _
ALCASA
ARCH QUIMICA ANDINA
BAYER
58212
9517472
CELANESE LTD.
CLARIANT COLOMBIA
CLARIANT DO BRASIL
CLARIANT GmBH
CLARIANT MEXICO
COPEQUIM 58242 3609801
DELTAVEN 58 241 8506415
DOW CHEMICAL
ENVIRCA
HENKEL VENEZUELA
HOLANDA VENEZUELA 58241 8324196
INMET
OCV TRADING VENEZUELA
PLASTICOS DE EMPAQUE
POLINTER
QUIBARCA
QUIMICA VENOCO
SHELL DE VENEZUELA
TRANSALUMINIO
LIST OF FOREIGN SUPPLIERS .-
Suppliers listed Alphabetically. There is not relationship as for the order
above
Supplier _ Country _
CELANESE LTD. U.S.A.
CLARIANT COLOMBIA COLOMBIA
CLARIANT DO BRASIL BRAZIL
CLARIANT GmBH GERMANY
CLARIANT MEXICO MEXICO
BANKING INFORMATION
BANKERS
Bank
Account
#
BANCO VENEZOLANO DE CREDITO 016-1247797-9
BANCO MERCANTIL 1020-23675-2
BANCO CITIBANK
BANCO PROVINCIAL
BANCO STANDAR & CHARTERED
The foregoing banks declined to give
information under confidential policies.
CREDIT OPINION
Consulted Credit Amount : R.500,000
Rupees/30 days Viable ? :
NOTE: The Opinion given is confidential,
referential and without liability.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.09 |
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UK Pound |
1 |
Rs.76.68 |
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Euro |
1 |
Rs.63.48 |
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%)