MIRA INFORM REPORT
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Report Date : |
16.12.2011 |
IDENTIFICATION DETAILS
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Name : |
EMER SPA |
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Registered Office : |
Via Giovanni Bormioli 19, Brescia, 25135 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
25.10.2005 |
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Com. Reg. No.: |
05032020967 |
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Legal Form : |
Public Subsidiary Company |
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Line of Business : |
manufacturer of industrial taps and valves |
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No. of Employees : |
110 persons |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
Unknown |
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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 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Italy |
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 |
Company name & address
Emer SpA
Via Giovanni Bormioli 19
Brescia, 25135
Italy
Tel: +39 030 2510391
Fax: +39 030 2510392
Synthesis
Employees: 110
Company Type: Public Subsidiary
Corporate Family: 7
Companies
Ultimate Parent: Westport Innovations Inc.
Incorporation Date:
25-Oct-2005
Reporting Currency: NA
Annual Sales: NA
Total Assets: NA
Business Description
Emer SpA is primarily engaged in manufacture of industrial taps and
valves including regulating valves and intake taps; manufacture of sanitary
taps and valves; and manufacture of heating taps and valves.
Industry
Industry Miscellaneous Fabricated Products
ANZSIC 2006: 2299 - Other
Fabricated Metal Product Manufacturing Not Elsewhere Classified
NACE 2002: 2913 - Manufacture
of taps and valves
NAICS 2002: 33291 - Metal
Valve Manufacturing
UK SIC 2003: 2913 - Manufacture
of taps and valves
US SIC 1987: 3494 - Valves and
Pipe Fittings, Not Elsewhere Classified
Key Executives
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Name |
Title |
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Sergio Ravagli |
President |
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Fabio Ravasi |
Executive |
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Simone Giovannelli |
Member of the board |
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Fabrizio Ottaviano |
Managing director |
news
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Title |
Date |
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Magical
world for kids |
27-Jul-2011 |
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NEW FEARS
FOR PORTOBELLO AS SAM CAM'S FAVOURITE BUTCHERS JOIN THE CASUALTY LIST |
22-Jul-2011 |
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STUDENT
MISSIONARY DIES IN AMAZON LAKE |
18-Jul-2011 |
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City centre
dolphin in nets death |
13-Jul-2011 |
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MUSEUMS
WARNED OF RHINO HORN THIEVES |
11-Jul-2011 |
Registered No.(ITA): 05032020967
1 - Profit & Loss Item Exchange Rate: USD 1 =
2 - Balance Sheet Item Exchange Rate: USD 1 =
Corporate Overview
Location
Via Giovanni Bormioli 19
Brescia, 25135
Italy
Tel: +39 030 2510391
Fax: +39 030 2510392
Sales (mil): NA
Assets (mil): NA
Employees: 110
Industry: Miscellaneous Fabricated Products
Incorporation Date: 25-Oct-2005
Company Type: Public Subsidiary
Quoted Status: Not Quoted
Registered No.(ITA): 05032020967
Managing director: Fabrizio
Ottaviano
Contents
· Industry Codes
· Business Description
· Subsidiaries
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
2299 - Other Fabricated Metal Product Manufacturing Not Elsewhere
Classified
696 - Management and Related Consulting Services
NACE 2002 Codes:
7032 - Management of real estate on a fee or contract basis
2913 - Manufacture of taps and valves
2875 - Manufacture of other fabricated metal products not
elsewhere classified
NAICS 2002 Codes:
53131 - Real Estate Property Managers
33291 - Metal Valve Manufacturing
332999 - All Other Miscellaneous Fabricated Metal Product
Manufacturing
US SIC 1987:
3499 - Fabricated Metal Products, Not Elsewhere Classified
8744 - Facilities Support Management Services
3494 - Valves and Pipe Fittings, Not Elsewhere Classified
UK SIC 2003:
2875 - Manufacture of other fabricated metal products not
elsewhere classified
7032 - Management of real estate on a fee or contract basis
2913 - Manufacture of taps and valves
Business
Description
Emer SpA is
primarily engaged in manufacture of industrial taps and valves including
regulating valves and intake taps; manufacture of sanitary taps and valves; and
manufacture of heating taps and valves.
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Key Corporate
Relationships
Bank: Banco di Brescia ag, Intesa Sanpaolo ag,
Banca Credito Cooperativo sede di Nave/Bs
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Corporate
Family |
Corporate
Structure News: |
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Total Corporate Family Members: 7 |
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Recently acquired (previously owned by SPARTA FINANZIARIA SPA).See corporate structure news on Westport Innovations Inc. for details
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Vancouver, BC |
Canada |
Auto and Truck Parts |
145.6 |
353 |
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Subsidiary |
Brescia, Brescia |
Italy |
Miscellaneous Fabricated Products |
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110 |
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Subsidiary |
Brescia, Brescia |
Italy |
Miscellaneous Fabricated Products |
8.7 |
39 |
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Subsidiary |
Albinea, Reggio Emilia |
Italy |
Auto and Truck Parts |
16.5 |
23 |
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Subsidiary |
Pernumia, Padova (Padua) |
Italy |
Miscellaneous Capital Goods |
47.8 |
70 |
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Subsidiary |
Vancouver, BC |
Canada |
Auto and Truck Parts |
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7 |
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Subsidiary |
Pernumia |
Italy |
Auto and Truck Parts |
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Executives
Report
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Board
of Directors |
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Member of the board |
Director/Board Member |
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Executives |
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President |
President |
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Managing director |
Managing Director |
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Managing director |
Managing Director |
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Executive |
Other |
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Westport
Closes Acquisition of Emer S.p.A.
PR Newswire US: 05 July 2011 [What follows is the full text of the news story.]
~Previously Announced Acquisition Closes on
Schedule~
VANCOUVER, July 5, 2011 /PRNewswire/ - Westport
Innovations Inc. (TSX:WPT / NASDAQ:WPRT), a global leader in alternative fuel,
low-emissions transportation technologies, today announced that it has
completed the previously announced purchase of Emer S.p.A. (Emer), of Brescia,
Italy, a leading fuel system provider in the compressed natural gas and
liquefied petroleum gas industry with a significant track record in technology
innovation and operations. After deduction of certain amounts contractually
agreed upon, Westport, at closing, paid approximately Euro 25.6 million
(approximately US$37.2 million), which consisted of Euro 12.1 million (US$17.6
million) in cash and 881,860 shares of Westport.
The purchase price includes the assumption of
approximately Euro 53 million (approximately US$77.0 million) in existing net
debt within Emer. Post-closing, Westport immediately paid down approximately
Euro 25 million (US$ 36.3 million) of the debt, leaving approximately Euro 28
million (US$40.7 million) in net debt.
The combined operations, under Westport's
Light-Duty Division, will offer a complete systems solution to OEMs looking to
take advantage of the growing alternative fuel market. Westport's Light-Duty
Italian operations, including Emer, will continue to be managed by Maurizio
Grando, Managing Director.
About Westport Innovations Inc.
Westport Innovations Inc. is a global leader in
alternative fuel, low-emissions technologies that allow engines to operate on
clean-burning fuels such as compressed natural gas (CNG), liquefied natural gas
(LNG), hydrogen, and biofuels such as landfill gas. Our unique technologies
reduce nitrogen oxides (NOx), particulate matter (PM), and greenhouse gas
emissions (GHG). The Company focuses on three distinct categories or target
markets - light-, medium-, and heavy-duty - through Westport business units or
joint ventures. Westport's Light-Duty Division is focused on light-duty
automotive systems, components and engines, including 2.4L engines for
industrial applications such as forklifts and oilfield service. Cummins Westport
(CWI), a joint venture with Cummins, sells the world's broadest range of
low-emissions alternative fuel engines for commercial urban fleets such as
buses, refuse trucks and vocational vehicles. Westport Heavy Duty (Westport
HD), our proprietary development platform, is engaged in the engineering,
design and marketing of natural gas-enabling technology for the heavy-duty
diesel engine and truck market. To learn more about our business, visit our
website or subscribe to our RSS feed at www.westport.com, or follow us on
Twitter @WestportWPRT.
Note:� This
document contains forward-looking statements, including statements regarding
the future management of Westport's Light-Duty Italian operations. These
statements are neither promises nor guarantees, but involve known and unknown
risks and uncertainties and are based on assumptions that may cause our actual
results, levels of activity, performance or achievements to be materially
different from any future results, levels of activities, performance or achievements
expressed in or implied by these forward looking statements. These risks and
assumptions include risks and assumptions related to our future strategy and
organization as well as other risk factors and assumptions that may affect our
actual results, performance or achievements or financial position discussed in
our most recent Annual Information Form and other filings with securities
regulators. Readers should not place undue reliance on any such forward-looking
statements, which speak only as of the date they were made. We disclaim any
obligation to publicly update or revise such statements to reflect any change
in our expectations or in events, conditions or circumstances on which any such
statements may be based, or that may affect the likelihood that actual results
will differ from those set forth in the forward looking statements except as
required by National Instrument 51-102.
Emer S.R.L Files Patent Application for Gas Load
Control Valve of in a Fuel Tank
Indian Patent News
26 July 2011
[What
follows is the full text of the article.]
New
Delhi, July 26 -- Italy based Emer S.R.L filed patent application for gas load
control valve of in a fuel tank. The inventor is Gobbi Francesco.
Emer
S.R.L filed the patent application on Nov. 18, 2004. The patent application
number is 00722/KOL/2004 A. The international classification numbers are
F02M21/02 and B06K3/00.
According
to the Controller General of Patents, Designs & Trade Marks, "The
invention concerns a liquid gas load control valve in a tank of gas powered
vehicles, which is made up of two stop valves operating in combination and in
association with a level detector, a first spring associated with a first stop
valve to hold it normally in a closed position of the valve housing of the gas
input, and two other springs associated with a second stop valve to keep it
normally in a closed position of the lateral bore open toward the tank and to
cooperate with the return of the stop valves to their respective closed
positions when the tank load reaches 80% of its capacity."
Annual profit & loss
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31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate
(Period Average) |
0.719047 |
0.683679 |
0.730637 |
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Consolidated |
No |
No |
No |
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Total income |
57.9 |
5.0 |
- |
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Net sales |
61.5 |
4.6 |
- |
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Other operating income |
1.1 |
0.1 |
- |
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Raw materials and consumables employed |
20.8 |
2.0 |
- |
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Other expenses |
14.0 |
1.6 |
- |
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Total payroll costs |
9.8 |
1.0 |
- |
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Fixed asset depreciation and amortisation |
20.1 |
1.0 |
- |
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Other operating costs |
0.3 |
0.0 |
0.0 |
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Total financial
income |
0.0 |
0.0 |
- |
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Total expenses |
4.3 |
4.6 |
- |
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Total taxation |
2.5 |
- |
- |
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Net loss |
15.1 |
4.0 |
0.0 |
Annual Balance Sheet
Financials in: USD
(mil)
|
|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.696986 |
0.719399 |
0.683971 |
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Consolidated |
No |
No |
No |
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Total
stockholders equity |
- |
10.1 |
0.0 |
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Provision for risks |
3.3 |
4.4 |
- |
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Provision for pensions |
0.3 |
0.4 |
- |
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Mortgages and loans |
1.9 |
4.3 |
- |
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Other long-term liabilities |
30.8 |
28.7 |
- |
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Trade creditors |
9.8 |
12.8 |
0.0 |
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Bank loans and overdrafts |
87.3 |
88.3 |
- |
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Other current liabilities |
5.3 |
2.9 |
0.0 |
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Accruals and deferred income |
0.0 |
0.1 |
- |
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Total current
liabilities |
102.4 |
104.2 |
0.0 |
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Total
liabilities (including net worth) |
133.6 |
152.3 |
0.0 |
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Intangibles |
66.9 |
83.4 |
0.0 |
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Total tangible
fixed assets |
3.5 |
3.2 |
- |
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Long-term investments |
7.8 |
7.3 |
- |
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Total financial
assets |
8.3 |
7.3 |
- |
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Receivables due after 1 year |
3.0 |
- |
- |
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Loans to associated companies |
0.5 |
- |
- |
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Total
non-current assets |
81.8 |
93.9 |
0.0 |
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Finished goods |
9.3 |
14.5 |
- |
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Net stocks and work in progress |
14.3 |
23.9 |
- |
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Trade debtors |
22.3 |
24.9 |
- |
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Other receivables |
1.3 |
8.4 |
- |
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Owing from participants |
- |
- |
0.0 |
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Cash and liquid assets |
13.5 |
0.9 |
- |
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Accruals |
0.4 |
0.2 |
- |
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Total current
assets |
51.8 |
58.3 |
0.0 |
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Total assets |
133.6 |
152.3 |
0.0 |
Annual Ratios
Financials in: USD
(mil)
|
|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
- |
EUR |
EUR |
|
Exchange Rate |
- |
0.719399 |
0.683971 |
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Consolidated |
No |
No |
No |
|
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|
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Sales per employee |
0.83 |
0.05 |
- |
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Average wage per employee |
0.13 |
0.01 |
- |
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Net worth |
- |
10.1 |
0.0 |
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Number of employees |
103 |
115 |
1 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.24 |
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UK Pound |
1 |
Rs.83.77 |
|
Euro |
1 |
Rs.70.46 |
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 |
|
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 |
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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.