MIRA INFORM REPORT
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Report Date : |
29.12.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
A.R.I. FLOW CONTROL ACCESSORIES LTD. |
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Registered Office : |
Mobile Post Ramat
Hagolan, Kfar Charuv 12932 |
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Country : |
Israel |
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Date of Incorporation : |
19.06.1973 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Developers, manufacturers,
exporters and marketers of plastic and metals made
flow control accessories |
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No. of Employees
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140 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 600,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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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Israel |
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
A.R.I. FLOW CONTROL ACCESSORIES
LTD.
Telephone 972 4 676 18 00
Fax 972 4 676 34 02
Mobile Post Ramat Hagolan
KFAR CHARUV-12932 ISRAEL
HISTORY & LEGAL FORMATION
Originally
established as a limited partnership, registered as per file No. 55-000221-6 on
the 19.06.1973.
Convereted
into an agricultural cooperative socielty in early 2000s and operated as such
for couple of years, under the name A.R.I. FLOW CONTROL ACCESSORIES
AGRICULTURAL COOPERATIVE SOCIETY LTD.
(File No. 57-003805-9).
Re-converted into
a private limited company and registered as such as per file No. 51-376835-8 on
the 28.12.2005.
SHARE CAPITAL
Authorized share
capital NIS 100,000.00, divided into -
100,000 ordinary shares of
NIS 1.00 each,
of which100 shares amounting to NIS 100.00 were issued.
SHAREHOLDERS
Subject is fully owned by KFAR CHARUV HOLDINGS ACS
LTD., fully owned by Kibbutz Kfar Charuv, a cooperative society, operating an
agricultural communal settlement.
DIRECTORS
1. Yigal Shacham, Chairman,
2. Ariel Sagi,
General Manager,
3. Yossi Weiss,
4. Yoram Erlich,
5. Steven Rosen,
6. Sergio Fishlin,
7. Ms. Vera Keinan.
BUSINESS
Developers,
manufacturers, exporters and marketers of plastic and metals made flow control
accessories, for water system protection from transient pressures and entrapped
air in pipelines.
Subject’s
products are designed for various applications in water supply (municipal and
domestic), sewage, industry, agriculture and landscaping.
Over
85% of sales are for export.
Among
local customers: MEKOROT WATER CO., ISRAEL MENDELSON TECHNICAL &
ENGINEERING SUPPLIES KAMAN, NETAFIM, BERMAD, etc.
60%
of raw material purchasing is from import.
Operating
from premises (offices and plant), on an area of 20,000 sq. metres in Kibbutz
Kfar Charuv (premises are owned by the Kibbutz), situated in the south of Ramat
Hagolan, near the Sea of Galillee.
Having
165 employees (had 140 employees in the end of 2009, 130 in 2009 1st
half).
MEANS
Total
B/S (total assets) as of 30.09.2009 was NIS 113,000,000 (was NIS
Equity
as of 30.09.2009 was NIS 77,000,000 (was NIS
Later
B/S data was not given, however we were tod that current equity comprises over
60% of total B/S.
Current
inventory is valued at NIS 30,000,000 (similar to the end of 2009).
There are 8 charges for unlimited amounts registered on the company’s
assets (financial and fixed assets), in favor of Bank Leumi Le’Israel Ltd.,
Mizrahi Tefahot Bank Ltd. and a leasing company.
REVENUES
2006
slaes claimed to be NIS 100,000,000, of which 90% were for export.
2007
slaes claimed to be NIS 111,000,000, of which 90% were for export.
2008
slaes claimed to be NIS 130,000,000, of which 90% were for export.
We
were informed that subject ended 2008 with “a nice profit”.
2009
slaes claimed to be NIS 109,000,000, of which 85% were for export.
2010
slaes claimed to be NIS 120,000,000, of which 87% were for export.
First
half of 2011 sales claimed to be NIS 60,000,000, of which 87% for export.
OTHER COMPANIES
·
A.R.I. USA INC.,
100%, USA, marketing arm.
·
AIRVALVE FLOW
CONTROL GMBH (A.R.I. GERMANY), 33%, Germany, marketing company.
BANKERS
Bank
Leumi Le’Israel Ltd., Haamakim Business Barnch (No. 745), Afula, account No.
62400/82.
A check with the Central Banks' database did not reveal anything
detrimental on subject’s a/m account.
CHARACTER AND
REPUTATION
Nothing
unfavorable learned.
Subject
is ISO 9001:2000 and ISO 14001:2004 certified, as well as meeting other
international standards.
Kibbutz Kfar Charuv was
established in 1973. There are some 110 members and a total population of 350.
The Kibbutz is engaged in
farming activities, including cultivating agricultural land (fruit plantations,
avocado, almonds, etc) and breed livestock.
They Kibbutz also operates in
torism tourist resorts (partners in “Hamat Gader” and owners of “Mitspe
Lashalom” village).
Export by the local water-related industries is valued at US$ 900 million per annum and increasing, with new companies and startups in this field join the trend of the growing demand for drinking water. Israel has tiny part in the global market, which is valued at US$ 450 billion (in 2011, furcated to grow by 10% by 2014). However, Israel is considered as pioneer in the field and in its reputation for water management capabilities.
SUMMARY
Good for trade engagements.
Maximum unsecured
credit recommended US$ 600,000.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.21 |
|
UK Pound |
1 |
Rs.83.32 |
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Euro |
1 |
Rs.69.51 |
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 |
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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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.