MIRA INFORM REPORT

 

 

Report Date :

30.06.2008

 

IDENTIFICATION DETAILS

 

Name :

METAL WORK INDUSTRY SRL

 

 

Registered Office :

SOS. De Centura Nr. 103 Cod Postal 0 Hala 2 Poarta 3‑4, Popesti Leordeni, Ilfov

 

 

Country :

Romania

 

 

Financials (as on) :

2006

 

 

Date of Incorporation :

06.09.2006

 

 

Com. Reg. No.:

J23/1759/2006

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacture of Metal Structures and Parts of Structures

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

 

 

 

 

name of the company

 

METAL WORK INDUSTRY SRL

 

 

Registration Briefing

 

Registration Number:                                J23/1759/2006

 

Registration Date:                                    06/09/2006

 

Legal Form:                                             PRIVATE LIMITED CO

 

Latest Financials:                                     N/A

 

 

Financial Briefing

 

Nominal Capital:                                       4,700,000 New Romanian Lei

 

Issued Capital:                                         4,700,000 New Romanian Lei

 

Turnover:                                                 16,519,841 Euros

 

Net Profit:                                                719,200 Euros

 

 

Net Worth:

 

 

Company Details

 

Company Name:                                          METAL WORK INDUSTRY SRL

Headquarter Address:                                   SOS. DE CENTURA nr. 103 cod postal 0 HALA 2 POARTA

                                                                  3‑4,

                                                                  POPESTI LEORDENI, ILFOV,

                                                                  Romania

 

Telephone:                                                  +40 213694653

                                                                  +40 215296257

                                                                  +40 215296258

                                                                  +40 215296277

 

Fax:                                                            +40 215296257

 

E‑Mail:                                                        office@metalwork.ro

Web Site:                                                    www.metalwork.ro

 

Company was originally started on 1994

 

 

 

 

 

Registration & Legal Details

 

Current Legal Form:                                   PRIVATE LIMITED CO

Additional Information:                                The company was initially established in Bucharest in 1994, and in 6 September 2006 she was displaced in Popesti Leordeni, Ilfov.

 

Registration Number:                                  J23/1759/2006

Registration Date:                                      06/09/2006

Year/Date Company Established:                1994

Registration Town:                                     POPESTI LEORDENI, ILFOV

Tax Registration Number:                           J23/1759/2006

 

Date of Last Annual Return:                        29/07/2007

 

 

Capital

 

Currency:                                                                        New Romanian Lei

Nominal Capital:                                                                  4,700,000

Issued Capital:                                                                     4,700,000

Paid Up Capital:                                                                             All

 

Nominal Capital Breakdown

 

Number of Shares: 470,000                         Type of Shares: ordinary

 

Issued Shares: 470,000                              Value per share: RON 10.00                 Value of this type:4,700,000.00

 

 

Shareholders

 

Parent Company:                                     SC GRUP MENATWORK SRL,

                                                                Str. ZEFIRULUI nr. 36,

                                                                BUCURESTI SECTORUL 2,

                                                                Romania

                                                                % Shares Held:   94.96%

 

Shareholders:

 

Name/Address                                                      Shares Held                                                      % of Voting/Non‑Voting capital

SC MENATWORK EST PREFABRICATE            23,688                                     5.04% (VOTING)

SRL,

Str. ZEFIRULUI nr. 36,

BUCURESTI SECTORUL 2,

Romania

 

 

 

 

Principals

 

Name:                                                       Mr CAVERNI LUIGI

Position within the company:                      Administrator

Date of Birth:                                             08/08/1959

Town of Birth:                                            ROMA, ITALY

Country of Birth:                                         Italy

Nationality:                                                Italian

 

NOTE: Regarding the release of the information’s with personal character, as a consequence of the modification of the Law 26 / 1990 regarding the Trade Registry through the Government Decree no. 82 / 2007, the Trade Registry no longer provides information’s with personal character such as personal numeric code and the residence of the natural persons who have the quality of associate, shareholder, legal representative, censor and auditor of the companies.

 

Trade Registry provides only an minimum of information’s, necessary and sufficient for the identification of the natural person who have those qualities, respective name and surname, date and place of birth, capital percentage and the quality tenure.

 

 

Company Activities

 

Declared objects of activity: main:

Manufacture of metal structures and parts of structures

 

 

Operations

 

Employees                                               Company Employs: 59 (at the end of 2006)

 

HQ Premises

                                                                Location:             Rural Area

 

Branches                                                 WORKING SITE,

                                                                SOSEAUA DE CENTURA nr. 202,

                                                                POPESTI LEORDENI, ILFOV,

                                                                Romania

 

 

Related Companies  

 

Affiliates

                                                                                                                               

MENATWORK EST

PREFABRICATE SRL

SOSEAUA DE CENTURA 103,

Popesti Leordeni, ILFOV,

Romania

Start Date: 2006

Related through: a common shareholder

Other information: Reg.No.:J23/1795/2006

 

PROMETAL SRL                                                                                                      

 

Sos. DE CENTURA 103,

Popesti Leordeni, ILFOV,

Romania

Start Date: 2006

Related through: a common shareholder

Other information: Reg.No.:J23/1396/2006

 

CASA TRAIAN SRL

 

Sos. DE CENTURA 103,

Popesti Leordeni, ILFOV,

Romania

Start Date: 2006

Related through: a common shareholder

Other information: Reg.No.:J23/1382/2006

 

SVELT PROFESIONAL SRL

 

SOSEAUA DE CENTURA 103,

Popesti Leordeni, ILFOV,

Romania

Start Date: 2007

Related through: a common shareholder

Other information: Reg.No.:J23/816/2007

 

 

QUATTRO PAVIMENTE TEHNICE

SRL

Sos. DE CENTURA 103,

Popesti Leordeni, ILFOV,

Romania

Start Date: 2005

Related through: a common shareholder

Other information: Reg.No.:J23/1196/2005

 

CARSON EST SRL

 

Sos. DE CENTURA 103,

Popesti Leordeni, ILFOV,

Romania

Start Date: 2008

Related through: a common shareholder

Other information: Reg.No.:J23/422/2008

 

 

Bankers

 

Financial Information

 

Figures are:                                               Official Figures

Currency:                                                  Euros

 

 

Months             Sales Figures        Sales          Gross Profit/Loss          Net Profit/Loss

 12          31/12/2006                   16,519,841.00                                       719,200

 12          31/12/2005                  8,332,872.00                                         503,790

 12          31/12/2004                 6,120,449.00                                          612,663

 12          31/12/2003                 2,308,191.00                                          101,391

 

 

Payments

 

Subject's payments reported to be:              UNDETERMINED

 

 

Interview & Reporter Comments

 

Name/Title:                                                Luigi Caverni Administrator

Comment:                                                 We have been unable to contact a company official.

 

 

 

Reporter Comment:                                    We have tried to interview the subject, but every time we called the secretary told us that Mr. Luigi Caverni (Administrator), the persons in charge to provide us with further information, were not in the company. We cannot provide therefore any additional data, since interviewing the subject was not possible.

                                                               

The company was initially established in Bucharest in 1994, and in 6 September 2006 she was displaced in Popesti Leordeni, Ilfov.

 

                                                                The company initial details:

                                                                ‑     Registration no. : J40/22721/1994

                                                                ‑     Fiscal code (VAT number): 6549637

 

Please note that the subject is not listed with overdue debts to the state budget. Please find below the subject's financials (the latest available from official sources).

 

NOTE: In the details provided by Mira in the report order to Rime Information Bureau, the company name is “Metal Works Industries SRL”. The investigations that we have made on the Ministry of Finance and Trade Registry, investigation based on the name, address and city showed us that the correct name “Metal Work Industry”.

 

 

 

 

 

 

 

 

 

 

 

 

BRIEF FINANCIALS
METAL WORK INDUSTRY SRL

Figures are:

Official figures

Date obtained:

20/06/2008

Currency:

EUROS

 

DATE OF FIGURES
FISCAL YEAR

BALANCE SHEET

Indicators

2005

2006

TOTAL Fixed Assets

2.669.897

3.334.097

TOTAL Current Assets, from which:

3.927.044

7.539.221

Stock

2.580.814

3.537.958

Cash

98.413

505.286

Receivables

1.247.817

3.495.976

NET WORTH,  from which:

1.635.637

2.497.714

Paid up capital

1.403

1.389.834

Patrimony of state owned companies

0

0

Public patrimony

0

0

Provisions

0

0

TOTAL Liabilities

5.208.603

8.375.603

PROFIT & LOSS ACCOUNT

Indicators

2005

2006

Turnover

8.332.872

16.519.841

TOTAL Income

8.768.725

17.222.885

TOTAL Expenditures

8.168.752

16.373.137

Pre-Tax Profit

599.973

849.748

Gross loss

0

0

Net Profit

503.790

719.200

Net loss

0

0

 

 

 

Number of employees

45

59

 

 

 

NOTE

The conversion from local currency to EUROS is made at the medium rate of exchange for 2005/2006

 

Conclusions

 

Local Reputation:                                   The company being investigated is well known and trusted in the local market and is considered to be a sound trading partner with low trade risk associated.

 

Financial Results Trend:                         Financial Information indicates that the business activities of the company are showing an upward turn.

 

Age of Business:                                       The company is long established in the local market.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.42.95

UK Pound

1

Rs.85.62

Euro

1

Rs.67.81

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions