MIRA INFORM REPORT

 

 

Report Date :

03.03.2011

 

IDENTIFICATION DETAILS

 

Name :

ALEXANDRIA CARBON BLACK CO SAE

 

 

Registered Office :

Suez Canal Tower, 26th Floor, Apartment No. 2 4 Ibn Khatir Street Giza Cairo

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

January 1993

 

 

Com. Reg. No.:

134021

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Manufacturers of carbon black and carbon based materials and products.

 

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$ 1,750,000

Status :

Good

Payment Behaviour :

No Complaints

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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

Egypt

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : ALEXANDRIA CARBON BLACK CO SAE

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : January 1993

Commercial Registration Number            : 134021

Issued Capital                                        : £E 99,500,000

Paid up Capital                                      : £E 99,500,000

Total Workforce                                     : 350

Activities                                               : Manufacturers of carbon black and carbon based materials and products.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 1,750,000

 

 

COMPANY NAME

 

ALEXANDRIA CARBON BLACK CO SAE

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : Suez Canal Tower, 26th Floor, Apartment No. 2

Street               : 4 Ibn Khatir Street

Area                 : Giza

 

Town                 : Cairo

Country             : Egypt

 

Telephone         : (20-2) 33373870 / 33377975 / 33490078

Facsimile          : (20-2) 37609174

Email                : adm@acbc.com.eg

 

Premises

 

Subject operates from a large suite of offices that are rented and located in the Central Business Area of Cairo.

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       Nahda Road                                                                                      Owned factory premises covering an

Amreya                                                                                            area of 170,000 square metres

Alexandria 23511

Tel: (20-3) 4770102 / 4770107

Fax: (20-3) 4770110

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Mohamed Adel Ahmed El Danaf                                                         Chairman

 

·       Ali Hussain Al Shareef                                                                       Director

 

·       Adel El Danaf                                                                                    Director

 

·       Pat Naik                                                                                           General Manager

 

·       Dalia Abdel Moneim                                                                          Human Resources Manager

 

·       Atef El Ashy                                                                                     Research & Development Manager

 

·       S N Agrawal                                                                                     Finance Manager

 

·       Parneet Nagwikar                                                                              Purchasing Manager

 

·       Bipul Sinha                                                                                       Technical Manager

 

·       Tapan Paul                                                                                       Export Manager

 

·       Aynas Al Adwai                                                                                Public Relations Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : January 1993

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 134021

 

Issued Capital              : £E 99,500,000

 

Paid up Capital            : £E 99,500,000

 

Name of Shareholder (s)                                              Percentage

 

·       Aditya Birla Group                                                                 67.53%

Industry House, 1st Floor

159 Churchgate Reclamation

Mumbai 400020

     India

     Tel: (91-22) 2835382

     Fax: (91-22) 2832020

 

·       SKI Investment                                                                      15.50%

Singapore

           

·       Saudi Egyptian for Industrial Investments                                   8.00%

Saudi Arabia

 

·       Holding for Engineering Industries                                             4.97%

Egypt

 

·       Nasr Coke & Base Chemicals                                                  4.00%

16 Sherif Street                                                        

Cairo                                                                       

Tel: (20-2) 33924189 / 33921731                                

Fax: (20-2) 33933790                                                

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of carbon black and carbon based materials and products.

 

Subject’s manufacturing plant went on stream in 1994 with the technical participation of Continental Carbon Black of the US. Production capacity was originally 20,000 tonnes which has now increased to 285,000 tonnes.

 

Subject was awarded the ISO 9002 Certificate in 1995.

 

Production Capacity: 200,000 tonnes per annum

 

Clients :

 

·       Malaya Group of Companies              India

·       Goodyear Tyres                                United States of America

·       Bridgestone                                      Japan

·       Pirelli                                               Italy                             

·       Dunlop Tyres                                    United States of America

 

Import Countries: United States of America, Saudi Arabia and India

 

International Suppliers:

 

·       B&A Multiwall Packaging Ltd             India

 

Export Countries: Subject exports approximately 90 percent of its total production to over 50 countries around the world, particularly the United States of America, the United Kingdom, France, Italy, Spain, Japan, India and Lebanon

 

Operating Trend: Steady

 

Subject has a workforce of approximately 350 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Egyptian Pounds (£E)

 

                                                Year Ending 31/12/09:                Year Ending 31/12/10:

 

Total Sales                                £E 182,000,000                         £E 186,000,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       National Bank of Egypt

24 Sherif Street

     Cairo

     Tel: (20-2) 33924175

     Fax: (20-2) 33924143

 

·       Commercial International Bank (CIB)

Nile Tower Building

21-23 Giza Street

PO Box: 2430

Cairo

Tel: (20-2) 35703043

Fax: (20-2) 35703172 / 35072691

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              April 2006

Credit amount                                        85,643

Amount overdue                         0

Payment terms                                      60 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               Canadian Dollars

 

 

 

GENERAL COMMENTS

 

Alexandria Carbon Black Co SAE was established in 1992 and is engaged in the manufacture of carbon black and carbon based materials and products. It is the fastest growing carbon black company in the world, exporting its products to over 50 countries.

 

The company deals with a number of leading international organisations with payment obligations reportedly met in a timely manner. The financial position is considered to be good and the company is deemed to be trustworthy for respecting its financial trade commitments. As such the above credit figure is deemed admissible.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.12

UK Pound

1

Rs.73.43

Euro

1

Rs.62.32

 

 

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.