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ALVAREZ
HERMANOS S.A.C.E.I.
CUIT No.: 30-53874342-5
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BEGINNER OF ACTIVITIES. INCORPORATED IN 1960. BALANCE SHEET AS OF 31/12/2006:
WELL-BALANCED ECONOMIC-FINANCIAL SITUATION WITH POOR PROFITABILITY. FIT
FOR COMMON IMPORTANCE CREDITS AND WITH THE GUARANTEES OF THE CASE.
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SPICES
IMPORT
COMMERCIALIZATION
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Business
type: Public Limited Company
Incorporated: 16/09/1960
Registered: 11/10/1960
Duration: Until 11/10/2059
End of fiscal year: December 31st
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Legal and
Operative address: Luzuriaga 235 (1280), Buenos Aires City, Argentine
Republic.
Phone: (54-011) 4304-0261/9292 - 4306-7059/7086
Fax: (54-011) 4306-2119
E-mail: o.torrero@speedy.com.ar
Annexed Warehouses: Algarrobo 1080, Buenos Aires City and Acceso Guemes
605, Pehuajó, Buenos Aires Province, Argentine Republic.
Other dependences: Pasco 255, Buenos Aires City, Argentine Republic.
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President:
ALVAREZ
ANTONIO CONSTANTINO
Vice-president: GARCIA DE ALVAREZ ANGELA
Director:
BLAZQUEZ DE ALVAREZ MONICA NOEMI
Director:
ALVAREZ JORGE
Regular Auditor: TORRERO OSCAR
The first two mentioned ones are in charge of the management and
administration of the company, with the use of the social signature.
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The company's corporate stock is established in $ 1,300,000.-
which has been totally subscribed and paid in. It is represented by the same
quantity of common and registered shares, of nominal value $1,00 each
with one vote per share. It has been said that most of such capital was
contributed by its directive staff.
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ALVAREZ ANTONIO
CONSTANTINO:
Argentinian, married, born on 22/04/1954, DNI. 11.360.574.
GARCIA DE ALVAREZ ANGELA:
Argentinian, widow, born on 22/04/1934.
BLAZQUEZ DE ALVAREZ MONICA NOEMI:
Argentinian, married, born on 28/03/1954.
ALVAREZ JORGE:
Argentinian, married, born on 18/01/1960.
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Even though its directives do not supply more certain information,
and according to our registers, it could notice that the society is the beginner
of the activities it realize, which was legally initiated in 1960.
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Economic-Financial
Position
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Contact has
been taken with the Accountant Oscar Torreno, of whom was required the delivery
of financial information.
As an answer, he replied that due to security reasons, without knowing
the request origin and its reasons, this type of information is not
supplied to third parties.
Given the circumstances and as it is usual in these cases, it has been
necessary to consult indirect sources. From where it was obtain some
figures taken from the balance sheet as of 31/12/2006, which are exposed
in pesos, and also in comparation with the previous year:
ASSETS:
2005
2006
------
---- ----
Disp.,Inv.,Créd.& others 4.531.920 7.287.588
Current assets 4.420.334 4.943.794
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Total Current 8.952.254 12.231.382
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Total non current
3.450.419 3.387.528
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TOTAL ASSETS 12.402.673
15.618.910
========== ==========
LIABILITIES:
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Debts
4.760.630 6.507.042
Social charges 19.671 0
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Current liabilities 4.780.301 6.507.042
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Non current liabilities 2.283.730 3.386.804
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Total liabilities 7.064.031
9.893.846
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Net stockholders Equity 5.338.642 5.725.064
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LIABILITIES AND NET STOCKHOLDERS E.
12.402.673 15.618.910
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RESULTS STATEMENT:
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Net sales
15.760.624 17.566.113
Profitability
364.242 416.422
Taking in to account the results of the last balance sheet, it can be
notice that the society did not have liquidity or solvency problems,
joined to a suitable indebtedness level, solid economic-financial
situation.
The level of incomes rise in comparation with the previous balance sheet,
obtaining a poor sale profitability of 2,37%.
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REAL ESTATE:
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This item is represented by the following assets:
> Luzuriaga 235, Buenos Aires City.
> Algarrobo 1080, Buenos Aires City.
> Acceso Guemes 605, Pehuajó, Buenos Aires Province.
> Pasco 255, Buenos Aires City.
Fits to highlight that no title deeds were shown as to verify if its
properties are unencumbered.
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The company is
engaged in the import, bargain and sale, milling of spices in general,
operating nowadays in the previously exposed addresses.
It is a medium-sized importance company in its sector which took to its
charge the representation of the company CHEMISCHE FABRIKBUDENHEIM for
its operations in the country.
It has an appropriate infrastructure and organization, where its
directors participate together with the necessary staff.
It operates, directly or through regional distributors, in the national
territory.
It realize export`s to Brazil, Chile and Paraguay
* 30 EMPLOYEES
NATIONAL SUPPLIERS:
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PRODUCTOS DE MAIZ S.A.
LA CAMPIÑA S.A.
PLATARIO S.A.
SEIS ERRE S.A.
INDUSPEL S.A.
FOREIGN SUPPLIERS:
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CENTRAL SOYA Co. (USA)
CATZ INTERNATIOKNAL BV (Holland)
CERESTAR DEUTSCHLAND GMBH (Germany)
AFWD TRADING (Singapore)
GRIFFITH LABORATORIES LTD. (Canada)
MAN PRODUCTEN ROTTERDAM BV (Holland)
FOREIGN TRADE MARKET:
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During the last 12 months it has imported for a total amount of u$s.
2.440.066, below is the detail:
BRAZIL .............................. u$s. 642.162
GERMANY.. ............................ u$s. 383.190
SPAIN.. .............................. u$s. 236.164
OTHERS ...............................
u$s.1.178.550
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Payment Record and
Credit Risk
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BANKS:
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BANCO RIO DE LA PLATA S.A.
BANCO PATAGONIA SUDAMERIS S.A.
NUEVO BANCO DEL SUQUIA S.A.
BBVA BANCO FRANCES S.A.
HSBC BANK ARGENTINA S.A.
CITIBANK N.A.
BANCO SUPERVIELLE S.A.
BANCA NACIONALE DEL LAVORO S.A.
CREDIT RISK:
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ENTITY MONTH/YEAR SITUATION
AMOUNT
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GALICIA 10/2007 1 $ 2.411.900
CMF S.A. 10/2007 1 $ 1.006.500
COMAFI 10/2007 1 $ 497.600
HSBC 10/2007 1 $ 440.800
ITAU 10/2007 1 $ 300.600
NACION 10/2007 1 $ 299.300
SUPERVIELLE
10/2007 1 $ 230.900
PATAGONIA
10/2007 1
$ 198.400
NVO.BCO.CHACO 10/2007 1 $ 153.900
SANTANDER RIO 10/2007 1 $ 117.300
CDAD.BS.AS.
10/2007 1 $ 97.400
AMEX 10/2007 1 $ 14.900
FIAT CRED.
10/2007 1 $ 10.100
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TOTAL: $ 5.779.600
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Situation 1: Normal Fulfillment.
INSURANCE:
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LA HOLANDO SUDAMERICANA CIA.DE SEGUROS S.A.
CIGNA CIA.DE SEGUROS S.A.
A.R.T.ASOCIART S.A.
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It is
commercially related with national companies and mainly with foreign
ones. Most of them give it their credit support, without objections about
its payment record.
* FULFILLMENT: NOT OBJECTED
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According to
the previously exposed backgrounds, we consider the company continues
being feasible for credit treatment, for amounts according to its
resources.
* FIT FOR OPERATIONS OF PRUDENTIAL IMPORTANCE
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