MIRA INFORM REPORT

 

 

Report Date :

24.02.2011

 

IDENTIFICATION DETAILS

 

Name :

TREFILADOS INOXIDABLES DE MEXICO S.A. DE C.V.

 

 

Registered Office :

Otomies S/N, Ciudad Industrial Xicontencatl II, Huamantla

 

 

Country :

Mexico

 

 

Date of Incorporation :

24.11.1999

 

 

Com. Reg. No.:

Certificate 21, 5th Section, Volume 9

 

 

Legal Form :

Stock Company of Variable Capital

 

 

Line of Business :

Manufacture of Stainless Steel Wire and Nickel Alloy Wire.

 

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$50,000

 

 

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

Mexico

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

IDENTIFICATION         

                                                                                                                         

CORRECT COMPANY NAME

:

TREFILADOS INOXIDABLES DE MEXICO S.A. DE C.V.

TRADE NAME

:

"TIM MEXICO"

TAXPAYER REGISTRATION

:

RFC TIM991124TE4

MAIN ADDRESS

:

Otomies S/N, Ciudad Industrial Xicontencatl II

CITY

:

Huamantla

DEPARTMENT/STATE

:

Tlaxcala

COUNTRY

:

MEXICO

TELEPHONE

:

4725411

FAX

:

4723160

WEB SITE

:

www.trefilados.com.mx

 

 

SUMMARY

 

INCORPORATION                      : 1999

LAST CAPITAL                          : Ps$200,000 Pesos

SHAREHOLDERS ' EQUITY       : Ps$ 58,597,626.= Peso (31.05.2008)

SALES                                     : 0.00

EMPLOYEES                            : 125

PAYMENTS                              : Usually to terms/good

CHIEF EXECUTIVE                    : SAMETZ REMBA, LEON

DISPOSITION                            : (They) refused to give information (only confirmed some data).

           

 

LEGAL BACKGROUNDS     

                                                                                                                           

LEGAL ESTATUS

:

Stock Company of Variable Capital

DATE OF INCORPORATION

:

24NOV1999

START OF OPERATIONS

:

N/A

REGISTERED IN

:

Juárez, Tlaxcala

NOTARY OFFICE

:

No. 1, Lic. José Luis Macias

DURATION

:

99 years

REGISTRATION

:

Certificate 21, 5th Section, Volume 9

INITIAL CAPITAL

:

Ps$50,000.= Pesos

CURRENT PAID-IN CAPITAL

:

Ps$200,000 Pesos

LAST CAPITAL INCREASE

:

N/A

SHAREHOLDERS' EQUITY

:

Ps$ 58,597,626.= Peso (31.05.2008)

TYPE OF SHARES

:

N/A

LISTED AT STOCK EXCHANGE

:

No

SHARE VALUE

:

N/A

CURRENT EXCHANGE RATE

:

Ps$12.07 per 1.00 USADollar

MEMBERSHIP

:

N/A

 

 

COMMENTS

 

Subject Company was registered in the District of Juárez, Tlaxcala dated January 7th., 2000.

 

 

History     

                                                                                                                         

TREFILADOS INOXIDABLES DE MEXICO S.A. DE C.V. was organized on November 24th, 1999.

Charter Members were Carlos Ramos Miranda and the firm SPRINT METAL.

 

It started operating in January 2001, and later it was acquired by the ARCELOR GROUP and was known as TIM GRUPO ARCELOR.

 

In 2005, GRUPO ARCELOR sold Subject Company to the NOVAMETAL GROUP from Switzerland.

 

 

DIRECTORS / EXECUTIVES / SHAREHOLDERS                                                                                                                                 

 

FULL NAMES / COMPANY NAME

TITLE

OWNERSHIP %

SAMETZ REMBA, LEON

Director General

 

PIMENTEL GONZALEZ, LUIS EDMUNDO

Logistics Manager

 

REYES, JOSE LUIS

Commercial Manager

 

FLORES, JULIO CESAR

Plant Manager

 

HUERTA MENDOZA, JOSUE

Accountant

 

NOVAMETAL S.A.

Parent Co.

100%

 

 

WHO IS WHO?                                                                                                                                 

 

SAMETZ REMBA, LEON

NATIONALITY                            : Mexican

BORN                                       : 25FEB1941

TAX ID                                      : SARL410225EP4

PROFESSION                           : Mechanical Engineer

CIVIL STATUS                           : Single

 

Associated as per our database to :

Company

Position

Tax. Reg.

Country

ACEROPCIS S.A. DE C.V.

General Director

ACE-020806-DRO

MEXICO

 

 

RELATED COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER       

                                                                                                                         

COMPANY NAME

COUNTRY

RELATION

NOVAMETAL DO BRASIL LTDA.

BRAZIL

Related

NOVAMETAL S.A.

SWITZERLAND

Parent Co.

TDV

FRANCE

Related

WPSS (PTY) LTD.

SOUTH AFRICA

Related

 

 

BUSINESS    

                                                                                                                              

MAIN ACTIVITY .-

Manufacture of stainless steel wire and nickel alloy wire.

 

Type of Products:

 1) Regular Wire

 Diameters from 0.0350 to 0.3120

 Type of finish: Bright, semi opaque

 2) Fine wire

 Diameters from 0.0063 to 0.045

 Type of finish: Bright, semi opaque

 

IMPORT           : Yes

                        Italy, Switzerland, Spain, USA and occasionally from China, with payments

                        by wire transfers

EXPORT           : Yes

                        USA, Belgium, Costa Rica, South Africa, Venezuela, Italy.

 

% CASH SALES/METHOD

:

01%

% CREDIT SALES/TERMS

:

99% (30-60-90-120 up to 180 days)

% FOREIGN SALES (COUNTRIES)

:

60%

% DOMESTIC PURCHASES

:

30%

% FOREIGN PURCHASES

:

Subject Company was registered in the District of Juárez, Tlaxcala dated January 7th., 2000.

SELLING TERRITORY

:

40% nationally

EMPLOYEES

:

125

 

 

LOCATION

 

Premises

:

Own

Monthly Amount

:

N/A

Time Occupied

:

N/A

Area

:

36,000 sqm

Floors

:

N/A

 

Remarks and other Premises .-

At caption address we find the headquarters of this company.

 

Facilities cover a surface area of 36,000 m2 and roofed area of 13,000 m2.

 

Sale Offices:

Paseo de La Reforma N'116 - 801, Colonia Juárez. CP 06600 - Mexico DF.

Tel. 55 5705 1258 / 55 5533 0385

Rented facilities

Property is owned by the company ACEROPCIS S.A. DE C.V.

 

 

COMMENTS

 

The subject is ISO 9901 certified by BUREAU VERITAS.

 

Main Clients:

 

- Gabriel Quroz Garcia

- Aceros Levinson S.A. de C.V.

- Compañia Nacional de Suministros S.A. de C.V.

- Megatropa  S.C.de R.L. de C.V.

 

 

FINANCIAL INFORMATION   

                                                                                                                              

Interviewee(s)

:

N/A

Position(s)

:

N/A

Cooperation

:

(They) refused to give information (only confirmed some data).

Information Provided

:

Josue Huerta Mendoza (Accountant) with whom we spoke has confirmed and/or updated general information of the company. However, he flatly refused to give us most recent financial statements of this company on grounds of confidentiality.  He only stated that in year 2009 sales turnover of this company reduced in a 10% over the previous year 2008, mainly attributable to the financial crisis in the United States. However there has been a slight recovery  of 5% in 2010. Trend that would be maintained this present year.

 

 

FINANCIAL SITUATION           

 

Active

 

 

PROPERTY OF THE COMPANY

 

They include:

 

- Vehicles

- Office furniture and fixtures

- Computers

etc.

 

 

INSURANCE

 

Company

Againts

Amount

Expiration

ZURICH COMPAÑIA DE SEGUROS SA

All risk

No specified

No specified

 

 

PAYMENTS RECORD    

                                                                                                                            

TRADE REFERENCES .-

Supplier

Country

Tel.

Line of Credit

Monthly Average

Terms(days)

Perfomance?

Time

Products/Services

ACEROPCIS S.A. DE C.V.

MEXICO

5255 57051258

 Open

 varying amounts

wire transfer 90 ds.

Prompt

10 years

Steel,  wire rod

MIMPO SERVICIOS ADUANALES

MEXICO

52-229-9324819

Ps$ 210,000.=

 varying amounts

wire transfer 30 ds

Prompt

2005

Customs service and logistics

 

NOTE: Other Suppliers did not provide information or could not be consulted.

Supplier

Country

Tel.

INTERNATIONAL FAST FORWARDING

U.S.A.

N/A

ESTEVES-DWD SPAIN S.A.

SPAIN

N/A

RICHARDS APEX INC.

U.S.A.

N/A

ESTEVES-DWD MEXICO S. DE R.L. DE C.V. (decline

MEXICO

N/A

 

 

COMMENTS

 

We asked other suppliers for information but they have not responded to our request for references.

 

 

BANKING INFORMATION       

                                                                                                                         

BANKERS .-

Bank

Contact

Telephone

Account #

DC (S/.)

FC (US$)

BBVA BANCOMER S.A.

N/A

N/A

N/A

N/A

N/A

The subject deals with the aforementioned bank that refused information as it is against its policy.

 

 

CREDIT OPINION   

                                                                                                                               

Consulted Credit Amount :       MAXIMUM

A MAXIMUM CREDIT AMOUNT OF US$50,000 IS ADVISED.

 

NOTE: The Opinion given is confidential referential and with out liability

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.20

UK Pound

1

Rs.73.16

Euro

1

Rs.61.88

 

 

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 Company

----

 

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.