MIRA INFORM REPORT

 

 

Report Date :

05.12.2011

 

IDENTIFICATION DETAILS

 

Name :

PROCTER & GAMBLE INDUSTRIAL S.C.A.

 

 

Registered Office :

Calle Altagracia, Edif. Procter & Gamble, Sector Sorokaima, Urb. La Trinidad

Caracas Distrito Capital

 

 

Country :

Venezuela

 

 

Date of Incorporation :

19.06.1991

 

 

Legal Form :

Limited Partnership by Shares

 

 

Line of Business :

Production, commercialization, import, purchase, sale of home cleaners, personal hygiene products, toiletries, over-the-counter medicines, foodstuffs and industrial products in general.

 

 

No. of Employees :

1,500 approx.

 

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 :

US$60,000

Status :

Satisfactory

Payment Behaviour :

Unknown

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Venezuela

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

IDENTIFICATION

 

CORRECT COMPANY NAME

PROCTER & GAMBLE INDUSTRIAL S.C.A.

TAXPAYER REGISTRATION

RIF J-30810986-0

MAIN ADDRESS

Calle Altagracia, Edif. Procter & Gamble, Sector Sorokaima, Urb. La Trinidad

CITY / PROVINCE

Caracas

DEPARTAMENT / STATE

Distrito Capital

COUNTRY

VENEZUELA

TELEPHONE

(58212) 9036555 - 9036111

FAX

(58212) 9036364

E-MAIL

andreazzi.m@pg.com

WEB

www.proctergamble.com

 

SUMMARY

Date of foundation

1991

Capital stock

Bs.F.2,701,390.= Bolivares Fuertes

permanent employees

1,500 approx.

Chief Executive

ANDREAZZI, MARCIO

Disposition

Report prepared through third-party sources.

Credit (**)

Risk is Moderate. Within Average. Satisfactory.

 

CREDIT OPINION

 

Requested credit

MAXIMUM CREDIT

Suggested credit (*)

US$60,000.=

(*) After several opinions received and factors.

 

 

LEGAL BACKGROUNDS

 

LEGAL STATUS

Limited Partnership by Shares

DATE OF INCORPORATION

19JUN1991

PLACE OF REGISTRY

Caracas - Registry of Companies II

DURATION

50 years

REGISTRATION

No.42, Volume 141-A. File 339.496

INITIAL CAPITAL

Bs.50,000,000.= Bolivares

CURRENT PAID-IN CAPITAL

Bs.F.2,701,390.= Bolivares Fuertes

LAST CAPITAL INCREASE

03.07.2001 (No.66, Volume 130-A)

CLASS OF SHARES

Registered

LISTED AT STOCK EXCHANGE

No

SHARE VALUE

Bs.F. 10.= Bolivares

CURRENT EXCHANGE RATE (US$)

BsF.4.30.= per USD1.00

COMMENTS

 
The Company started under the name INVERSIONES PROCTER & GAMBLE C.A.; on 02.09.1991, it changed its name to PROCTER & GAMBLE DE VENEZUELA C.A., under No. 67, Volume 115-A.
 
On 03.07.2001, it changed its legal status from stock company to limited partnership by shares, hence, it adopted the current name PROCTER & GAMBLE INDUSTRIAL S.C.A. (No.66, Volume 130-A).
 
The capital stock has been increased as follows:
- Bs. 2,171,600,000, in December 1993
- Bs. 2,700,990,000, in January 1995
- Bs.F. 2,701,380.= Bolivares Fuertes in July 2001

 

DIRECTORS - EXECUTIVES – SHAREHOLDERS

 

FULL NAMES / COMPANY NAME

TITLE

%PART.

SINCE

ANDREAZZI, MARCIO

President / CEO

 

 

GUZMAN, RODOLFO

Human Resources Manager

 

 

TELLECHEA, ROBERTO

Controller

 

 

PROCTER & GAMBLE TENEDORA, S.A.

Parent Co.

99.985%

 

PROCTER & GAMBLE INDUSTRIAL 1 SRL

Related

0.015%

 

 

 

WHO IS WHO?

ANDREAZZI, MARCIO

NATIONALITY

Brazilian

PROFESSION

Aeronautical Engineer

SEX

Male

BACKGROUND INFORMATION

 
He is 51 years old.
He was General Manager of Procter & Gamble in Chile.

 

 

ASSOCIATED AS PER OUR DATABASE TO

 

COMPANY

TITLE

TAX REG

COUNTRY

PROCTER & GAMBLE CHILE LTDA.

General Manager

96.656.660-4

CHILE

 

PROCTER & GAMBLE TENEDORA, S.A.

 

BUSINESS BACKGROUND

Venezuelan company. 
Registered in Caracas on June 26, 2001, under No.68.
Its stake consists of 270,099 shares of Bs.10,000.= each one.

 

BUSINESS HISTORY

 

 
Founders: Procter & Gamble de Venezuela C.A. (founded on 31.07.1950, under Nº 789. TAX ID RIF.J-00030031-3)
 
In December 1994, the Company merged INDUSTRIAS MAMMI C.A., effective as from January 1995.
 
In 1995, in line with strategic alliances plan of the Company, it acquired PRODUCTOS CRUZ VERDE C.A., and its product lines of home cleaners, cloth softeners, etc.
 
In 1996 an alliance was attempted with S.C. JOHNSON DE VENEZUELA, for the Cruz Verde product line (floor wax), but which was objected by the Competition Superintendency, alleging the resulting entity would have 7 times more market participation than their nearest competitor.
 
In August 2000, it was agreed to establish a branch in the city of Porlamar, state of Nueva Esparta.
 
In July 2001, INVERSIONES INDUSTRIAS MAMMI S.C.A. transferred its shares to PROCTER & GAMBLE TENEDORA S.A.
 
In November 2002 it was agreed to pay Bs.58,054,739,304.= Bolívares to MAX FACTOR K.K. in virtue of transference of loan contract made by PROCTER & GAMBLE HOLDING S.R.L. to the Company.

 

 

RELATED COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER

 

COMPANY NAME

COUNTRY

RELATION %

PROCTER & GAMBLE INDUSTRIAL 1 SRL

VENEZUELA

 

Related

PROCTER & GAMBLE TENEDORA, S.A.

VENEZUELA

 

Parent Co.

 

 

BUSINESS

 

Main activity

 
Production, commercialization, import, purchase, sale of home cleaners, personal hygiene products, toiletries, over-the-counter medicines, foodstuffs and industrial products in general.
The Company produces: diapers and women's sanitary pads, while products as soaps, shampoo, toothpaste, which it formerly manufactured are being imported.
It also is engaged in representation of manufacturers.
 
Trademarks:
 
* Food and beverages: Eagle Snacks, Café Folgers, Hawaiian Punch, Jif. Millstone Coffee, Olean/Olestra, Pringles, Puritan Oil, Sunny Delight, Tender Leaf Tea.
* Perfumes: Giorgio, Hugo Boss, Laura Bagiotti, Old Spice, Red, Venezia, Wings, Lacoste, Gucci
* Hair care: Head & Shoulders(H&S), Ivory, Pantene, Pert, Physique, Prell, Vidal Sasson, Clairol, Wella.
* Women's hygiene: Always, Tampax, Attends.
* Laundry and cleaning: Briz, Bold, Bounce, Cascade, Cheer, Cinch, Comet, Dash, Dawn, Downy, Era, Ivory, Joy, Maestro Limpio, Tide, Ariel, Salvo, Ace, Rapido, Magia Blanca.
* Medicines: Day Quil, Metamucil, NyQuil, Pepto Bismol, Percogesic, Therma Care, Vicks Vapo Rub
*  Teeth care: Cloraseptic, Crest
* Toilet paper: Banner, Bounty, Charmin, Puffs, Royale, Summit, Bess, Tempo
* Soaps: Camay, Coast, Ivory, Safeguard, Zest, Fairy.
* Beauty products: Max Factor, Cover Girl, Oil of Olay
* Pet foods: Iams and Eukanuba
* Deodorants: Old Spice, Secret, Sure, Mum
* Diapers and baby products: Baby Fresh, Kid Fresch, Luvs, Pampers, Wash a bye baby

Import

Yes

Country

Mexico, Colombia and Chile

Export

Yes

COUNTRY

The Caribbean, Colombia, Brazil, Peru, Mexico

% Credit SALES / Terms

100% 30 days

% Ventas exterior (Paises)

5%

% DOMESTIC PURCHASES

Yes

% FOREIGN PURCHASES

Yes

SELLING TerritorY

Domestic market: 95%

EMPLOYEES

1,500 approx.

 

 

LOCATION

 

OTHER PREMISES

 
The building was built in 1997, with an investment of US$46 million dollars.
 
Plant 1: Calle B-2 con Calle Divard, Zona Industrial, Barquisimeto, State of Lara.  Tel: (58 251) 69.2622.
 
Plant 2: Calle La Arenera Parcela Nº 2, Edificio Procter & Gamble, Parcela Nº2, Zona Industrial Las Delicias, Guatire, State of Miranda. Tel: (58 212) 340.3000. Own facilities.

 

FINANCIAL INFORMATION

 

Interviewee(s)

OUTSIDE SOURCES

Disposition

Report prepared through third-party sources.

Information provided

 
No information could be obained from the Company directly.
People who talked to us refused to give any data by arguing confidentiality policy.
Under such circumstances, we have prepared this report based on the information collected from third-party sources where no balance sheets or estimated accounting elements were available.

 

FINANCIAL SITUATION

 
UNDETERMINED
As no accounting elements were available, it is not possible to get a clearer vision of the financial potential of this Company. Financial standing is deemed to be indeterminate.

 

PAYMENTS RECORD: TRADE REFERENCES

 

(Confidential Information)

Supplier: MONEY PLAST C.A.

Tel.: (58212) 9796661

Country: VENEZUELA

Goods/Services? : Moulds and caps

 

 

Highest credit? : US$ 10,000/ 60,000

Outstanding debt? : 0.=

 

Client since? : 5 years

Terms? : 30, 60 days

Performance? : Prompt

Comments : VERY GOOD CLIENT

 

Note : Other suppliers did not provide information or could not be consulted

 

Supplier

Telephone

Country

Comment

KATUNGA PRODUCCIONES C.A.

58 212 8833531

VENEZUELA

It was not possible to contact

 

 

BANKING INFORMATION

Bank

Account #

BANCO VENEZOLANO DE CREDITO

049-000000-3

 

Under privacy policy, the above bank refused to give information about the Company.

 

 

 

CREDIT OPINION

 

 

Comnsulted Credit Amount :

MAXIMUM CREDIT

 

 

Suggested Credit :

US$60,000.=

 

 


NOTE : The opinion given is confidential, referential and with out liability.

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.35

UK Pound

1

Rs.80.50

Euro

1

Rs.69.14

 

 

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.