MIRA
INFORM REPORT
REVISED REPORT
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Report Date : |
29.11.2008 |
IDENTIFICATION DETAILS
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Name : |
CONPACK INDUSTRIES LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
22.08.2004 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Manufacturers
and Marketers of Industrial Packaging: Woven Polypropylene Bags, Sacks,
Containers. |
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 : |
No Complaints |
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Litigation : |
Clear |
name & address
CONPACK INDUSTRIES LTD.
Telephone 972
3 926 03 01; 4 604 42 22
Fax 972
3 926 03 33; 4 604 01 31
Industrial Zone
MIGDAL HAEMEK 23100
HISTORY & LEGAL FORMATION
A private limited company, incorporated as per file No. 51-358115-7 on the
22.08.2004.
SHARE CAPITAL
Authorized share capital
50,000 ordinary shares of
of which shares amounting to
SHAREHOLDERS
1.
CONTEL AUTOMATION AND CONTROL LTD., owned by Gideon Tilman
and Shimon Gershon, 40%,
2.
N.G.Y.Y. INDUSTRIES LTD., 30%,
3.
ATTORNEY AMIR ELED TRUSTEES LTD., 30%.
DIRECTORS AND
JOINT GENERAL MANAGERS
1.
Nir Bashan, General Manager,
2.
Gideon Tilman, co- General Manager of the CONTEL Group,
3.
Amir Eled.
BUSINESS
Manufacturers and marketers
of industrial packaging: woven polypropylene bags, sacks, containers.
Operating from offices and a
plant, in
Number of employees not
forthcoming.
Having some 140 employees in
the CONTEL Group.
MEANS
Financial data not forthcoming.
There are 2 charges for unlimited amounts registered on the company’s
assets, in favor of Bank Leumi Le’Israel Ltd.
ANNUAL SALES
Sales figures not forthcoming.
OTHER COMPANIES
CONTEL AUTOMATION AND CONTROL LTD., importers and marketers of engineering
and automation solutions, including control systems, heating and
air-conditioning (HVAC) solutions, industrial automation, process control and
Manufacturing Execution Systems (MES). Also owns the u/m 2 companies:
CONTEL I.T.S LTD., 100%, operating from same premises as subject, software
company, specializing in Manufacturing Execution Systems (MES),
MEITAV TEC LTD., 100%, manufacturers, exporters and marketers of HVAC control
products and systems.
CONTEL ENGINEERING & MARKETING (1993) LTD.
CONTEL (1997) EQUIPMENT SUPPLY LTD.
BANKERS
Bank Leumi Le’Israel Ltd., branch data not forthcoming.
CONTEL Group is also working with:
Bank Leumi Le’Israel Ltd., Kiryat Arieh Business Branch (No. 670), Petach Tikva.
CHARACTER AND
REPUTATION
Nothing unfavourable learned.
Subject is ISO 9001:2000 certified.
CONTEL Group is long established and known in their fields.
Subject’s officials refused to update or disclose any details, without
knowing the exact identity of the enquirer / supplier.
There are some 120
packaging production plants in
According to the Chairman of the Packaging
and Design Institute the branch sales in 2007 were expected to increase by 4%
comparing to 2006 and reach
US$ 1.25 billion, of which US$ 320 million are exports (a 6% increase).
During
the first 8 months of 2007, around US$ 60 million were invested in the branch
in R&D and design .
SUMMARY
Notwithstanding the refusal to disclose financial details, considered
good for trade engagements. However, without any financial details we are unable to
express a specific credit opinion.
NOTE
Take notice of correct address name in Migdal Haemek (not Migdalhamer).
Ha'Itztadion is Hebrew is “Stadium”, but is not used in its English style.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.84 |
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1 |
Rs.76.81 |
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Euro |
1 |
Rs.64.38 |
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%)