MIRA INFORM REPORT

 

 

Report Date :           

27.08.2011

 

IDENTIFICATION DETAILS

 

Name :

DUFERCO SA

 

 

Registered Office :

Via Bagutti 9, 6900 Lugano

 

 

Country :

Switzerland

 

 

Date of Incorporation :

12.08.1982

 

 

Com. Reg. No.:

514.3.002.576-4 / 47756

 

 

Legal Form :

Company limited by shares

 

 

Line of Business :

trade in metals of all kinds

 

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

 

Maximum Credit Limit :

CHF 2'000'000

Status :

Satisfactory

Payment Behaviour :

Regular

Litigation :

Clear

 

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)

Switzerland

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

Duferco SA

 

 

Operating address

 

Via Bagutti 9

6900 Lugano

Switzerland/CH

Telephone:                    091 8225600

Fax:                             091 8225700

Web site:                      http://www.duferco.com

E-mail:                         info@duferco.com

VAT-No.:                      CHE-101.355.469

 

 

Profile

 

Established:                  1979

History:                           1979:    Established from Bruno Bolfo

Line of Business:           Trade brokers

Industry Division:           Wholesale trade

Industry-code (NACE):     4612     Agents involved in the sale of fuels, ores, metals and industrial chemicals

Import/Export:               Agency

Banks:                         unknown

 

 

Operational Figures

 

Coverage:                     Company

Figures:                        approximately

Employees:                  150-249

Sales:                          CHF 2-4 Bil

 

 

Activity

 

The business activities are trade in metals of all kinds.

 

 

Real Estate

 

Information on property ownership was not available.

 

Company Register

 

Company No:                514.3.002.576-4 / 47756

Legal form:                    Company limited by shares

Registration:                 12.08.1982

Legal status:                 active

Responsible Register:    Registro di commercio del Cantone Ticino

Auditor:                        PricewaterhouseCoopers SA ( CH-514.9.014.248-1 ), Lugano

History:                        Date of Statutes: 26.08.1996

                                    Date of Incorporation Statutes: 11.08.1982

                                    Date of Statutes: 01.07.2010

                                    Date of Statutes: 07.09.2007

                                    Date of Statutes: 28.08.2007

                                    Date of Statutes: 30.04.2003

                                    Date of Statutes: 22.02.2002

 

Entry            Deleted   Name

active                           Duferco SA

 

Entry            Deleted   Legal domicile

active                           Lugano, Switzerland

 

Entry            Deleted   Address

07.04.1998                    Via Bagutti 9, 6900 Lugano/TI, Switzerland/CH

                    07.04.1998  Via Cantonale 19, 6900 Lugano/TI, Switzerland/CH

 

Entry            Deleted   Capital

18.09.2007                    Share Capital CHF 2'750'000, paidup CHF 2'750'000

 

Entry            Deleted   Capital Structure

02.07.2010                    2'750 Registered shares of CHF 1'000.--

18.09.2007    02.07.2010  2'750 Bearer shares of CHF 1'000.--

 

Entry            Deleted   Activity (original Language)

31.08.2007                    Il commercio di prodotti di acciaio ed ogni altro prodotto siderurgico così pure di materie prime ed in particolare quelle relative al ciclo siderurgico quali ad esempio carbone, coke, minerale di ferro, rottami, ferroleghe ed altre, nonché la commercializzazione di gas ed energia elettrica e altri prodotti energetici. La società può concedere a terzi, compresi gli azionisti diretti od indiretti della società o le società cui questi partecipano, finanziamenti diretti o indiretti, sia per mezzo di prestiti od altri metodi di finanziamento, sia per mezzo di garanzie di ogni genere, con o senza controprestazione. Essa potrà inoltre assumere partecipazioni in imprese commerciali, finanziarie ed industriali ed eseguire tutte le operazioni commerciali o finanziarie ritenute utili o connesse allo scopo sociale. La società può partecipare ad altre imprese in Svizzera e all'estero.

                    25.02.2002  Il commercio di prodotti di acciaio ed ogni altro prodotto siderurgico così pure di materie prime ed in particolare quelle relative al ciclo siderurgico quali ad esempio carbone, coke, minerale di ferro, rottami, ferroleghe ed altre. Potrà assumere partecipazioni in imprese commerciali, finanziarie ed industriali.

25.02.2002    31.08.2007  Il commercio di prodotti di acciaio ed ogni altro prodotto siderurgico così pure di materie prime ed in particolare quelle relative al ciclo siderurgico quali ad esempio carbone, coke, minerale di ferro, rottami, ferroleghe ed altre, nonché la commercializzazione di gas ed energia elettrica e altri prodotti energetici.

 

Entry            Deleted   Remarks (original Language)

active                           Publishing authority: FUSC.

active                           Merger: La società ha assunto, sulla base del contratto di fusione del 26.08.1996, la "Bolmat SA", in Lugano, giusta l'art. 748 CO. Attivo: CHF 36'777'179.--. Passivo: CHF 34'102'538.--. Attivo netto: CHF 2'274'641.--. La cessione ha luogo mediante rimessa agli azionisti di 100 nuove azioni al portatore da CHF 1'000.-- della Duferco SA. Bilancio di fusione: 30.09.1995.

07.05.2003                    Merger: La società ha assunto, sulla base del contratto di fusione del 24.04.2003, la Duferco Technical Services SA, in Lugano (FUSC no. 66 del 04.04.2001 p.2512), giusta l'art. 748 CO. Bilancio di fusione: 30.09.2002. Attivo: CHF 1'608'242.--. Passivo: CHF 922'252.--. Attivo netto: CHF 685'990.--. La cessione ha luogo mediante rimessa agli azionisti di 100 nuove azioni al portatore da CHF 1'000.-- della Duferco SA.

07.05.2003                    Merger: La società ha assunto, sulla base del contratto di fusione del 24.04.2003, la D.E. Metals SA, in Lugano (FUSC no. 241 del 12.12.2002 p.13), giusta l'art. 748 CO. Bilancio di fusione: 30.09.2002. Attivo: CHF 811'806.--. Passivo: CHF 74'108.--. Attivo netto: CHF 737'698.--. La cessione ha luogo mediante rimessa agli azionisti di 200 nuove azioni al portatore da CHF 1'000.-- della Duferco SA.

 

Entry            Deleted   Branches

23.06.2000    10.12.2001  , Delémont/JU, Switzerland/CH

 

 

Official Administration

 

Title                                           Name

President                                    Bruno Bolfo, Origin: Italy, Address: Lugano/TI, Switzerland, joint signature of two

Chief Executive                           Benedict John Sciortino, Origin: United States of America, Address: Lugano/TI, Switzerland, joint signature of two

Chief Executive                           Antonio Gozzi, Origin: Italy, Address: Chiavari, Italy, joint signature of two

 

 

Management

 

Title                                           Name

Director                                      Alessandro Casale, Origin: Italy, Address: Castagnola/TI, Switzerland, joint signature of two, eingeschränkte Zeichnungsberechtigung, Appointment: 07.05.2008

Director                                      Enrico Toschi, Origin: Italy, Address: Carona, Switzerland, joint signature of two, eingeschränkte Zeichnungsberechtigung, Appointment: 07.05.2008

Director                                      Giuseppe Venturato, Origin: Lugano, Switzerland, Address: Origlio, Switzerland, joint signature of two, eingeschränkte Zeichnungsberechtigung, Appointment: 07.05.2008

Director                                      Paolo Foti, Origin: Italy, Address: Lugano/TI, Switzerland, joint signature of two

Director                                      Stefano Arancio, Origin: Italy, Address: Berganzona/TI, Switzerland, joint signature of two, Appointment: 07.05.2008

Director                                      Thomas Patrick, Origin: Langnau im Emmental, Switzerland, Address: Ponte, Switzerland, joint signature of two, eingeschränkte Zeichnungsberechtigung, Appointment: 19.09.2005

Director                                      Matthew De Morgan, Origin: United Kingdom, Address: Guildford, United Kingdom, joint signature of two

 

 

Executive board

 

Title                                           Name

Chief Executive Officer                 Bruno Bolfo

Chief Financial Officer                  Benedict John Sciortino

Chief Administration Officer          Paolo Foti

 

 

Financial Data Duferco Ltd

 

Consolidation:               unconsolidated

Industry:                       Trade/Industry

 

Fiscal year end:                                     30.09.2009        30.09.2008

Number of months:                                       12                    12

Currency:                                                 th. CHF             th. CHF

Remarks:                                                   about                about

 

Operating revenue                                    3'300'000.0        3'300'000.0

Capital                                                          2'750.0              2'750.0

 

Employees  at year end                                      205                   200

Employees inland                                               205                   200

Employees abroad                                                 0                      0

 

 

Ultimate Parent Company

 

Name:                          Duferco Participations Holding Limited

City/Country:                 Guernsey, United Kingdom/GB

 

 

Owner/-s

 

No. of Owner/-s:            1

Owner:                         The company is foreign owned.

 

Class:                          100%

Name:                          Nina Finance SA

City/Country:                 Luxembourg, Luxembourg/LU

Interest:                        100.00% voting right, 100.00% capital interest

 

 

Investments

 

Class:                          100%

Name:                          DUFENERGY INTERNATIONAL TRADING SA

City/Country:                 Lugano, Switzerland/CH

Interest:                        100.00% voting right, 100.00% capital interest

 

Class:                          100%

Name:                          Duferco C.E.C. SA

City/Country:                 Lugano, Switzerland/CH

Interest:                        100.00% voting right, 100.00% capital interest

 

Class:                          100%

Name:                          Duferco Investment Services SA

City/Country:                 Lugano, Switzerland/CH

Interest:                        100.00% voting right, 100.00% capital interest

 

Class:                          100%

Name:                          Duferco Shipping SA

City/Country:                 Lugano, Switzerland/CH

Interest:                        100.00% voting right, 100.00% capital interest

 

 

Legal Actions

 

Control date       Year                       No.             Amount CHF     Status

07.01.2011          2011                           0

07.01.2011          2010                           1                           2'899'766.-- Opposition filed

07.01.2011          2009                           0

07.01.2011          2008                           0

07.01.2011          2007                           0

07.01.2011          2006                           0

07.01.2011          2005                           0

07.01.2011          2004                           0

07.01.2011          2003                           0

07.01.2011          2002                           0

07.01.2011          2001                           0

 

An updated legal action check is only available against proof of interest. e.g. a copy of an enquiry letter, and order or invoice relating to the subject company.

 

 

Credit Information

 

Financial Situation:        The financial situation is good.

 

Payment experiences:   Payment habits are considered good.

 

Maximum Credit:           CHF 2'000'000

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.05

UK Pound

1

Rs.75.19

Euro

1

Rs.66.47

 

 

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

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%)

 

 

 

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.