MIRA
INFORM REPORT
|
Report Date : |
18.01.2008 |
IDENTIFICATION
DETAILS
|
Name : |
DIP TECH LTD |
|
|
|
|
Registered Office : |
17 Atir Yeda Street
, Industrial Zone (Central Park 2000), KFAR SABA 44643 |
|
|
|
|
Country : |
Israel |
|
|
|
|
Date of Incorporation : |
2002 |
|
|
|
|
Legal Form : |
Private Limited
Company |
|
|
|
|
Line of Business : |
Developers,
Manufacturers (through sub-contractors), Exporters and Marketers of inkjet
digital printing systems for the glass industry. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
name & address
DIP TECH LTD.
Telephone 972 9 763 31 66
Fax 972 9 763 31 83
17 Atir Yeda Street
Industrial Zone
(Central Park 2000)
KFAR SABA 44643 ISRAEL
HISTORY
Originally established
in 2002 as a division in I.T.S INDUSTRIAL TECHNO LOGIC SOLUTIONS LTD.
Converted into a
private limited company, registered as per file No. 51-369920-7 on the
16.6.2005.
SHARE CAPITAL
Authorized share
capital of NIS 38,000.00 divided into -
38,000 ordinary shares of NIS 1.00
each,
of which shares
amounting to NIS 13,669.00 were issued.
SHAREHOLDERS
1. Gera Eron, 72.4%,
2. COMMUTECH
HOLDINGS & INVESTMENTS LTD., 24.6%, a subsidiary of DELEK GROUP LTD., a
public limited company, whose shares
are traded on the Tel Aviv Stock Exchange, controlled by Itzhak Tshuva,
3. OREN PROJECTS ACS LTD., 2.3%, of
Kibbutz Tzova,
4. Ms. Edna Eron, 0.7%.
SOLE DIRECTOR
Gera Eon, founder
GENERAL MANAGER
Ronen Botzer.
BUSINESS
Developers, manufacturers
(through sub-contractors), exporters and marketers of inkjet digital
printing systems for the glass industry.
Also producing ink for
printers (ceramic inks for a wide variety of glass applications).
All sales are for
export.
Sales are to suppliers of glass and glazing products to the automotive, architectural and home appliance markets.
Operating from rented
premises (offices and labs), on an area of 500 sq. meters, in 17 Atir Yeda
Street, Industrial Zone (Central Park 2000), Kfar Saba and from a plant, rented
area of 350 sq. meters, in Park Afek, Rosh Ha'ayin.
Having 35 employees
(had 20 employees in mid 2006).
MEANS
Investments in R&D
claimed to be US$ 4,000,000, as of mid 2006.
Subject holds no
stock, work is based on orders.
There is 1 current
charge for an unlimited amount registered on the company’s assets (financial
assets), in favor of Bank Hapoalim Ltd.
ANNUAL SALES
2006 sales claimed to
be €5,000,000, 100% for exports.
2006 sales claimed to
be €10,000,000, 100% for exports.
OTHER COMPANIES
I.T.S INDUSTRIAL
TECHNO-LOGIC SOLUTIONS LTD., sister company, designers, developers,
manufacturers and marketers of interdisciplinary sophisticated machines,
machine prototypes, assembly lines, test equipment and total production
facilities.
BANKERS
Bank Hapoalim Ltd., Kfar Saba Branch (No. 627), Kfar Saba, account No.
109898.
A check with the
Central Banks' database did not reveal anything detrimental on subject's a/m
account.
CHARACTER AND REPUTATION
Nothing unfavorable learned.
Subject is considered to be a pioneer and sole manufacturer in the world of ink for printers operating in heat of hundreds C° degrees.
The DELEK Group is one of the leading concerns in Israel, with holdings in Israel and worldwide in energy, real estate, automobile, industry and commerce, tourism and finance. DELEK GROUP consolidated B/S totaled NIS 79.842 billion (equity NIS 4.08 billion) as of 30.9.2007. Current market value US$ 2.4 billion.
SUMMARY
Good for trade engagements.
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%)