MIRA
INFORM REPORT
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Report Date : |
25.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
MERCOFRICON S/A. |
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Registered Office : |
Rodovia BR-101 Norte, s/nº, Km. 51,7 – Paratibe ZIP-53413-000 –
Paulista/PE |
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Country : |
Brazil |
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Financials (as on) : |
30.06.2007 |
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Date of Incorporation : |
09.09.1998 |
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Com. Reg. No.: |
26.300.010.771 |
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Legal Form : |
Private Anonima Company (Open Capital). |
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Line of Business : |
Industry and Commerce of Equipment, Parts and Accessories of
Refrigeration. |
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 |
Head information
Company name: MERCOFRICON S/A.
Trade Name: FRICON
Economical Group: MARTINS AZEVEDO
Address: Rodovia
BR-101 Norte, s/nº, Km. 51,7 – Paratibe
ZIP-53413-000
– Paulista/PE – Brazil.
Phone: (55-81)
2121.5000 / 2121.5002 / 2121.5003
Fax: (55-81)
2121.5004
E-mail: mercofricon@mercofricon.com.br
Web Site: www.mercofricon.com.br
Legal information
Legal Status: Private Anonima
Company (Open Capital).
Incorporation date: September, 09, 1998
Register number: 26.300.010.771
Tax contributor
(CNPJ): 02.802.419/0001-92
Registered
capital: R$
7.801.585,00 on January, 16, 2008
Register number: 20.080.069.789
State Registration
#: 18.1.170.0270443
Number of
employees: 480
Branches: Not
have
History
Established on September, 09, 1998,
chartered at the State Commerce Registration Office of Pernambuco (JUCEPE)
under number 26.300.010.771, into the present registered name.
Partnership:
(joined 09/1998)
MERCO-FRIO LTDA - 98,0%
-Brazil, CNPJ/MF-01.398.272/0001-54
ARTUR MARTINS AZAVEDO -
1,3%
-Portuguesa, Married, CPF/MF-007.764.974-56
RUI MANUEL COUTINHO DE AZEVEDO - 0,4%
-Portuguesa, Divorced, CPF/MF-008.780.354-27
FERNANDO JOSÉ ROMAGUERA DE SOUSA -
0,3%
-Brazilian, Married, CPF/MF-198.978.804-10
Management:
FERNANDO JOSÉ ROMAGUERA DE SOUSA - Shareholder Director President
RUI MANUEL COUTINHO DE AZEVEDO - Shareholder Director
EMANOEL MARCIO DE SAMPAIO - Shareholder Director
ANTÔNIO JOSÉ FERREIRA RIBEIRO - Shareholder Director
Management Board:
FERNANDO JOSÉ ROMAGUERA DE SOUSA - President
RUI MANUEL COUTINHO DE AZEVEDO - Counselor
ARTUR MARTINS AZEVEDO - Counselor
Properties
Own building, total area: 67.336 m²,
built up area: 13.473 m², valued at R$5.000.000,00
Registered
line of business:
Industry and commerce of equipment, parts and accessories of
refrigeration.
Main Products:
92% - Frezeers
08% - other products
Purchases/Sales:
100% - Domestic market
Related Companies
Stock participation:
M M IMPORTAÇÃO E EXPORTAÇÃO LTDA –
CNPJ/MF-41.028.853/0001-19
-Artur Martins Azevedo - 75,0%
-Rui Manuel Coutinho de Azevedo - 15,0%
-Fernando José Romaguera de Souza - 10,0%
MERCO FRIO LTDA – CNPJ/MF-01.398.272/0001-54
-Artur Martins Azevedo - 75,0%
-Rui Manuel Coutinho de Azevedo - 15,0%
-Fernando José Romaguera de Souza - 10,0%
Financial Data
According to the Brazilian Law
Private Limited Companies are not obliged to file financial accounts for public
inspection.
The following financial statement
was obtained through outside sources consulted.
Quarterly balance sheet as of 30/06/2007 –
US$1.00
Balance sheet information for fiscal year
ending:
31/12/2006– US$1.00 = R$2,341
31/12/2005– US$1.00 = R$2,654
Figures are in (Thousands of) Reais R$:
Assets
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06/2007 |
2006 |
2005 |
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Current Assets |
29.622 |
42.466 |
27.239 |
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Inventory |
13.048 |
16.426 |
8.575 |
Other Assets
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16.574 |
26.040 |
18.664 |
Long Term Assets
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253 |
326 |
202 |
Fixed Assets
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9.043 |
8.498 |
7.316 |
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Immovable |
8.990 |
8.445 |
7.316 |
Total Assets
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38.918 |
51.290 |
34.757 |
Liabilities
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06/2007 |
2006 |
2005 |
Current Liabilities
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10.718 |
23.391 |
10.934 |
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Suppliers |
6.060 |
9.997 |
6.489 |
Other
liabilities
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4.658 |
13.394 |
4.445 |
Long Term Liabilities
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2.586 |
4.080 |
5.956 |
Net Equity
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25.614 |
23.819 |
17.867 |
Capital
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7.802 |
7.802 |
7.802 |
Reserves
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11.705 |
9.507 |
6.344 |
Accumulated Profit (Loss)
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6.107 |
6.510 |
3.721 |
Total Liabilities
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38.918 |
51.290 |
34.757 |
Income Statement
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06/2007 |
2006 |
2005 |
Annual Net Sales
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29.065 |
53.583 |
45.325 |
Gross Income
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5.173 |
8.524 |
7.529 |
Operating Income
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339 |
401 |
833 |
Net Income
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342 |
2.789 |
2.310 |
Working Capital
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18.904 |
19.075 |
16.305 |
(Dollar rate US$1.00 = R$1,615 on (23/06/2008)
Banking
Banco Abn Amro Real S/A. -
branch 0686
Banco Safra S/A. -
branch 0029
Banco do Brasil S/A. -
branch 3433
Banco Bradesco S/A. -
branch 1606
Banco Itaú S/A. -
branch 6066
Remark: banking comments could not be
obtained due to legal restrictions from the Brazilian Law.
No returned checks were found either in the name of the
company or partners.
Insurance
Not informed
Payment information
The payment information was obtained
through outside sources and public consulted.
858 -invoices
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Information
on purchases: |
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06/2008 |
Last: |
R$ 680
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Average: |
R$ 5.945
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Information
on invoicing: |
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04/2008 |
Highest: |
R$ 130.800
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Average: |
R$ 10.951
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Information on accumulation:
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02/2008 |
Highest: |
R$ 225.995
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Average: |
R$ 25.634
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98% - prompt payments
01% - delays from 08 up to 15 days
01% - delays from 16 up to 30 days
Trade References
Main
Suppliers - Brazil:
TERMOMECANICA SÃO PAULO S/A.
INDÚSTRIA NACIONAL DE AÇOS LAMINADOS INAL
S/A.
DOW BRASIL S/A.
Main Suppliers - Foreign:
Not informed
Main
clients - Brazil:
CREDIMOVEIS NOVOLAR LTDA.
UNILEVER BRASIL LTDA.
NESTLÊ BRASIL LTDA.
PRIMO SCHINCARIOL INDÚSTRIA DE CERVEJAS
REFRIGERANTES NORDESTE S/A.
Public Records Information
01 protested bill:
28/05/2008 R$
2.457,00 Paulista/PE.
Remarks
11-Contacted Mr. Artur Martins Azevedo – Director
Administration, we requested the balance sheet of 2007, however until the
moment we didn't receive an answer.
The information in this report were obtained from outside sources
and public records.
Final Opinion
Public records information shows some detrimental information however,
due to the company size and the level of its operations it is considered normal
that this kind of negative information is found. Therefore, we point out that
the trade reputation of the company is
good despite of the detrimental records.
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%)