MIRA INFORM REPORT

 

 

Report Date :           

24.12.2011

 

IDENTIFICATION DETAILS

 

Name :

PREFORMADOS DE MEXICO S.A. DE C.V.

 

 

Registered Office :

La Griega 131 Parque Industrial Querétaro Km. 28.5, Carretera Querétaro San Luis, Potosi, Postal Code 762000, Santa Rosa Jauregui, Querétaro

 

 

Country :

Mexico

 

 

Date of Incorporation :

02.05.1968

 

 

Legal Form :

Stock Company of Variable Capital

 

 

Line of Business :

manufacture and trading of preformed cables

 

 

No. of Employees :

145 persons

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

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 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Mexico

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Important Note:

In the absence of financials we cannot recommend credit limit.

 

 

IDENTIFICATION

 

CORRECT COMPANY NAME

PREFORMADOS DE MEXICO S.A. DE C.V.

TAXPAYER REGISTRATION

RFC PME-680502-9F9

MAIN ADDRESS

La Griega 131 Parque Industrial Querétaro Km. 28.5, Carretera Querétaro San Luis, Potosi

POSTAL CODE

762000

CITY / PROVINCE

Santa Rosa Jauregui

DEPARTAMENT / STATE

Querétaro

COUNTRY

MEXICO

TELEPHONE

(52442) 2389540 - 2389548

E-MAIL

mauricioangulo@plpmexico.com

WEB

www.preformed.com

COMMENTS

 
Additional E-mails:
ventas@plpmexico.com 
 monica.pazos@plpmexico.com

 

 

SUMMARY

 

Date of foundation

1968

permanent employees

145

Chief Executive

NARANJO MIRANDA, SALVADOR

Disposition

Report prepared through third-party sources.

Payments policy

Without rating (No payment experience traced)

 

 

LEGAL BACKGROUNDS

 

LEGAL STATUS

Stock Company of Variable Capital

DATE OF INCORPORATION

02MAY1968

PLACE OF REGISTRY

Querétaro

DURATION

99 years

CLASS OF SHARES

Registered

LISTED AT STOCK EXCHANGE

No

CURRENT EXCHANGE RATE (US$)

Ps$ 13.87 per 1 USD

 

 

DIRECTORS - EXECUTIVES – SHAREHOLDERS

 

FULL NAMES / COMPANY NAME

TITLE

%PART.

SINCE

NARANJO MIRANDA, SALVADOR

CEO

 

 

ANGULO MAS, MAURICIO

Admin. & Finance Manager

 

 

GUERRERO, MIGUEL ANGEL

Sales Manager

 

 

RODRIGUEZ, FRANCO

Manufacturing Manager

 

 

PAZOS, MONICA

Treasurer

 

 

PREFORMED LINE PRODUCTS COMPANY

Parent Co.

100%

 

 

 

BUSINESS HISTORY

 

 
Subject Company is an Affiliate of the PREFORMED LINE PRODUCTS COMPANY, a US company.

 

 

RELATED COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER

 

COMPANY NAME

COUNTRY

RELATION %

PLP

BRAZIL

 

Related

PLP

CANADA

 

Related

PREFORMED LINE PRODUCTS COMPANY

U.S.A.

 

Parent Co.

 

 

BUSINESS

 

SIC Classification
3 9 - MISCELLANEOUS MANUFACTURING INDUSTRIES

Main activity

 
Subject Company is engaged in the manufacture and trading of preformed cables.

Import

Yes

Country

(From USA, China, Brazil, Barein)

Export

Yes

COUNTRY

(To USA)

% CASH SALES / METHOD

30%

% Credit SALES / Terms

70% (Short-term facilities)

% Ventas exterior (Paises)

40%

% DOMESTIC PURCHASES

50%

% FOREIGN PURCHASES

50%

SELLING TerritorY

Domestic market (60%)

EMPLOYEES

145

LOCATION

PREMISES

Own

OTHER PREMISES

 
The company's main offices operate at the address in the heading.
 
STORE: Calle Leibniz 11, Int. 102, Colonia Anzures, México D.F. C.P.11590 

Comments

 
Subject's imports are made through wire transfer.

 

 

FINANCIAL INFORMATION

 

Interviewee(s)

Fuentes Externas

Disposition

Report prepared through third-party sources.

Information provided

 
This report has been prepared through external sources since when we contacted Mónica Pazos (Treasurer) and explained her our request, she provided general information, and told us that the person authorized to provide this kind of information is the Mauricio Angulo, Financial Manager, to whom we could not find.
 
For your reference, we included the Consolidated Balance Sheet as of 31/12/2010 (12 months) from Preformed Line Products  Company, Subject's parent company, whose main accounts are as follows:

 

 

FINANCIAL SITUATION

 
UNDETERMINED
The company's Financial Standing is considered to be Undetermined since there is no financial information that allows us to asses its results.
 
This is a company with long track record and continuance in the market. It is part of an important investment group.

 

PAYMENTS RECORD: TRADE REFERENCES

 

(Confidential Information)

Supplier

Telephone

Country

Comment

GRUPO INDUSTRIAL ALMONTI S.A. DE C.V.

52773 7330617

MEXICO

We could not contact them

CUPRUM S.A. DE C.V.

5281 83058500

MEXICO

No information is provided

YUHAN SA DE CV

 

MEXICO

 

 

 

LAWSUITS
As of the date of the report, no criminal, civil and/or commercial lawsuits have been filed against Subject.

 

 

BANKING INFORMATION

 

Bank

MONEX S.A.

BANAMEX

 

Subject's financial transactions are carried out through the above mentioned banks which do not provide any references under bank secrecy.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.72

UK Pound

1

Rs.82.71

Euro

1

Rs.68.90

 

 

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.