MIRA INFORM REPORT
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Report Date : |
26.08.2011 |
IDENTIFICATION DETAILS
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Name : |
DINAMICA AUTOMOTRIZ DE MEXICO S.A. |
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Registered Office : |
Vicente Suarez 51, Centro, López Mateos, Zip Code 52,900, Atizapan de Zaragoza, Estado de México |
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Country : |
Mexico |
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Date of Incorporation : |
13.11.1962 |
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
manufacture of automotive parts |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Undetermined |
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Payment
Behaviour : |
---- |
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Litigation : |
---- |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Mexico |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
IDENTIFICATION
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CORRECT
COMPANY NAME |
:
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DINAMICA AUTOMOTRIZ DE
MEXICO S.A. |
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TRADE
NAME |
:
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"DINAMEX" |
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TAXPAYER
REGISTRATION |
:
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RFC DAN-621113-F85 |
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MAIN
ADDRESS |
:
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Vicente Suarez 51, Centro, López Mateos, |
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POSTAL
CODE |
:
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52,900 |
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CITY |
:
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Atizapan de Zaragoza |
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DEPARTMENT/STATE |
:
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Estado de México |
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COUNTRY |
:
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MEXICO |
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TELEPHONE |
:
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50006700 - 58225419 |
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FAX |
:
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58225421 |
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WEB
SITE |
:
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COMMENTS
.-
Additional E-mail: rolvera@dinamex.com.mx
SUMMARY
FOUNDATION :
1962
SALES :
0.00
PAYMENTS : Without rating (No payment experience traced)
CHIEF EXECUTIVE :
VERA SEARFIN, MONICA
DISPOSITION :
Report prepared through third-party sources.
LEGAL
BACKGROUNDS
|
LEGAL
ESTATUS |
:
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Joint-Stock Company |
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DATE
OF INCORPORATION |
:
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13NOV1962 |
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START
OF OPERATIONS |
:
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N/A |
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REGISTERED
IN |
:
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State of Mexico |
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NOTARY
OFFICE |
:
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N/A |
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DURATION |
:
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99 years |
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REGISTRATION |
:
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N/A |
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INITIAL
CAPITAL |
:
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N/A |
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CURRENT
PAID-IN CAPITAL |
:
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N/A |
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LAST
CAPITAL INCREASE |
:
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N/A |
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SHAREHOLDERS'
EQUITY |
:
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N/A |
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TYPE
OF SHARES |
:
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N/A |
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LISTED AT STOCK EXCHANGE |
:
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N/A |
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SHARE
VALUE |
:
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N/A |
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CURRENT
EXCHANGE RATE |
:
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Ps$12.32 per US$1.= Dollar |
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MEMBERSHIP |
:
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N/A |
COMMENTS
.-
It was not possible to obtain any on subject's
legal incorporation and any additional personal details of its members.
DIRECTORS
/ EXECUTIVES / SHAREHOLDERS
|
FULL
NAMES / COMPANY NAME |
TITLE |
|
VERA SEARFIN, MONICA |
Nat.PurchasingDept.Chief |
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ROSAS TORRIJOS, ADRIAN |
General Accountant |
WHO
IS WHO?
ROSAS
TORRIJOS, ADRIAN
BUSINESS
HISTORY
DINAMICA AUTOMOTRIZ DE MEXICO S.A. is known today
as the DINAMEX Group, which was incorporated in November 1962 under the
corporate name Dinámica Automotriz de México S.A., being one of the pioneering
companies in manufacture of automotive parts in the country that was
established as a result of a decree issued by the then President of the
Republic, Mr. Adolfo Lopez Mateos.
Making a little history, we may say that subject's
first facilities, a warehouse of a little more than 2,000 m were located on
Avenida Ceylan, in Colonia Vallejo, and in those facilities, it started
manufacturing the Mechanical Fuel Pump (Screw) and spare parts for aftermarket.
It was time when the country was coming out from the 1950's economic crisis of
the austere government of Ruiz Cortines.
In 1966, Dinámica Automotriz de México established
an agreement with the American company Kem Manufacturing Inc. to trade the
mechanical fuel pump under the Kem brand. This was how Kem de México was
established.
By the end of 1967, due to its high quality
manufacturing, Kem de México was chosen as a supplier of the original equipment
for the assembly plant of VAM (Vehículos Automotores Mexicanos), a manufacturer
of brands Rambler, Gremlin, Javelin, Lerma and Pacer. For years the
relationship was fruitful until 1986 when the assembling plant stopped its
operations. At the same time, Dinamex Group was a supplier of the original
equipment of mechanical fuel pump to GM and Ford until the technology advanced
much that there was a need for a change.
Kem de México continues today to manufacture this
product for the spare part market. A short time later, Kem de México, meeting
demands from the market, developed the sealed fuel pump that is sold today
covering all of vehicle park transiting in Mexico.
In 1970, Dinámica Automotriz de México moved to a
functional facility in the town of Atizapan under space reasons.
As the time passed, and overcoming difficult tests,
in 1985 Dinámica Automotriz de México developed the technology of electrical
fuel pump.
In 1988, Kem de México introduced into the market
an innovative and state-of-the-art product: the line of wires for spark plugs
Kem Mag Plus, the first line of pure silicon and with magnetic suppression in
the country, which eliminates possible interferences with the car electrical
and audio systems. It introduced the Lancer by Kem wire line of EPDM material.
In 1994, Dinámica Automotriz de México established
an association with Tomco Inc., a leading company in its line of business in
North America, and this resulted in the establishment of Tomco de México. From
that date, Dinámica Automotriz de México was known as Dinamex Group.
In 1999, Spartan by Kem was created as a new line
of ignition parts, including coils, condensers, caps, etc.
In 2006, it was acquired the electrical division of
ECHLIN MEXICO (AFFINIA), whose products are distributed in Mexico, USA, and
international market.
Subject is a member of the DINAMEX GROUP, which is
also comprised of companies engaged in manufacture and distribution of
automotive products.
It is related directly to the following companies:
RELATED
COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER
|
COMPANY NAME |
COUNTRY |
RELATION |
|
GRUPO DINAMEX S.A. DE C.V. |
MEXICO |
Related |
|
KEM DE MEXICO S.A. |
MEXICO |
Related |
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MAQUILAS Y MANUFACTURAS VEM
S.A. |
MEXICO |
Related |
|
TOMCO DE MEXICO S.A. DE C.V. |
MEXICO |
Related |
BUSINESS
MAIN
ACTIVITY .-
Subject is engaged in manufacture, import, export,
distribution and trading in general of automotive parts and spare parts.
IMPORT : Yes
EXPORT : Yes
(To
Germany and USA; by direct credit)
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%
CASH SALES/METHOD |
:
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N/A |
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%
CREDIT SALES/TERMS |
:
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100% (30-day terms) |
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% FOREIGN SALES (COUNTRIES) |
:
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10% |
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%
DOMESTIC PURCHASES |
:
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80% |
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%
FOREIGN PURCHASES |
:
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20% |
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SELLING
TERRITORY |
:
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90% (Domestic market) |
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EMPLOYEES |
:
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N/A |
LOCATION
.-
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Premises |
:
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Own |
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Monthly
Amount |
:
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N/A |
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Time
Occupied |
:
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N/A |
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Area |
:
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N/A |
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Floors |
:
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N/A |
Remarks and other Premises .-
Subject's registered office, administrative
offices, and production plant are located on the above-mentioned address.
No other addresses were found.
COMMENTS .-
Subject has 400 workers at a corporate level.
Subject sells through the following exclusive
representatives:
- Distribuidora Triem S.A. de C.V. (Mexico DF)
- Sourcelink World Trade Inc (USA)
- Bremi Fahrzeug-Elektrik GMBH+CO. KG (Alemania)
At present, it operates under the TS and
ISO:9001:2000 quality standards.
FINANCIAL
INFORMATION
|
Interviewee(s) |
:
|
Third-Party Sources |
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Position(s) |
:
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N/A |
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Cooperation |
:
|
Report prepared through
third-party sources. |
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Information
Provided |
:
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Although we sent a writing formal
request, persons that attended us said that under strict orders from the
general direction it was not allowed to disclose any information as
confidential. Although we insisted, we were not able to approach to the board
members and even their names were not disclosed because of security
measures. Therefore, this report was
completely developed with information that was collected from reliable
third-party sources, official records and our archives, where it was not
found any accounting information. |
FINANCIAL
SITUATION : UNDETERMINED
Because it was not found any financial statement
for the last fiscal year, subject's credit risk was undetermined. Additionally,
it was not obtained any references on subject's responsibility in trade.
PROPERTY
OF THE COMPANY .-
Subject's assets include:
- Office furniture and equipment
- Computer equipment
- Vehicles
- Machinery and equipment, etc.
INSURANCE
.-
It was not possible to obtain any information on
insurances.
PAYMENTS
RECORD
NOTE: Other Suppliers did not
provide information or could not be consulted.
|
Supplier |
Country |
Tel. |
|
ACME ELECTRONICS |
U.S.A. |
N/A |
CREDIT RISK CENTRAL .-
It was not found any adverse records in consulted
sources.
CREDIT HISTORY .-
Because subject refused to provide any information,
it was not possible to learn about subject's regular local suppliers. We
consulted possible suppliers, but it was not obtained any information.
Therefore, it was not possible to determine subject's credit record. We could
only learn about the name of one of its foreign suppliers.
BANKING
INFORMATION
BANKERS
.-
|
Bank |
Contact |
Telephone |
Account # |
DC (S/.) |
FC (US$) |
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NACIONAL DE MEXICO S.A. |
N/A |
N/A |
N/A |
N/A |
N/A |
Subject is a client of the above-mentioned bank. No
additional information was obtained.
It should be remembered that in Mexico it is not
possible to obtain any bank references if it is not known the checking account
number, the agency where this was opened, and the credit officer's name.
GENERAL
INFORMATION
REPUTATION
.-
NOTHING
AGAINST COMPANY
CREDIT
OPINION
Requested Credit
: MAXIMUM CREDIT
A credit opinion can not be given due to the lack
of financials and payment experience.
NOTE: The Opinion given is confidential referential
and with out liability
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.13 |
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UK Pound |
1 |
Rs.75.52 |
|
Euro |
1 |
Rs.66.53 |
RATING EXPLANATIONS
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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 |
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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 |
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 |
|
---- |
NB |
New Business |
---- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.