MIRA INFORM REPORT

 

 

Report Date :           

03.05.2011

 

IDENTIFICATION DETAILS

 

Name :

KOBUSCH PACKAGING EGYPT SAE (KPE)

 

 

Registered Office :

First Industrial Zone, Block 7, New Borg El Arab, P O Box 440, Alexandria

 

 

Country :

Egypt

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

1992

 

 

Com. Reg. No.:

134024, Alexandria

 

 

Legal Form :

Egyptian Joint Stock Company

 

 

Line of Business :

Manufacturers of flexible packaging materials

 

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$ 1,000,000

Status :

Satisfactory

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                                     : KOBUSCH PACKAGING EGYPT SAE (KPE)

Country of Origin                                    : Egypt

Legal Form                                            : Egyptian Joint Stock Company

Registration Date                                   : 1992

Commercial Registration Number            : 134024, Alexandria

Industrial Licence Number                       : 23790

Tax Card Number                                   : 100-443-117

Issued Capital                                        : £E 62,621,000

Paid up Capital                                      : £E 62,621,000

Total Workforce                                     : 300

Activities                                               : Manufacturers of flexible packaging materials.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 1,000,000

Person Interviewed                                 : Hassan Ibrahim, Financial Controller

 

 

COMPANY NAME

 

KOBUSCH PACKAGING EGYPT SAE (KPE)

 

 

company ADDRESS

 

Registered & Physical Address

Location            : First Industrial Zone, Block 7

Area                 : New Borg El Arab

PO Box             : 440

Town                 : Alexandria

Country             : Egypt

Telephone         : (20-3) 4591023 / 4938164 / 4592472 / 4592473

Facsimile                : (20-3) 4593314 / 4592471

Mobile               : (20-10) 1626613

Email                : wdaabis@pactiv.com / rarasole@pregis.com

 

Premises

Subject operates from a large suite of offices, warehousing and a factory that are owned and located in the Industrial Area of Alexandria.

 

Branch Offices

 

     Location                                                                                          Description

 

·       Suez Canal Tower                                                                             Office premises

4 Ibn Kathier Street

Giza

Cairo

Tel: (20-2) 33360935

Fax: (20-2) 33360935

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Rabeh Mohamed Fouzi El Sherif                                                         General Manager

 

·       Maged Hassan                                                                                  Finance Manager

 

·       Hassan Ibrahim                                                                                 Financial Controller

 

·       Abdul Moniem Dawoud                                                                      Purchasing Manager

 

·       Mohamed Farghaly                                                                            Operations Manager

 

·       Atef Omar                                                                                         R & D Manager

 

·       Yaser Medhat                                                                                   Administration Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1992

 

Legal Form                  : Egyptian Joint Stock Company

 

Commercial Reg. No.  : 134024, Alexandria

 

Industrial Licence No.  : 23790

 

Tax Card No.               : 100-443-117

 

Issued Capital              : £E 62,621,000

 

Paid up Capital            : £E 62,621,000

 

Name of Shareholder (s)                                               Percentage

 

·       Pregis Corporation                                                          100%

1650 Lake Cook Road

Suite 400

Deerfield, IL

60015

     United States of America

     Tel: (1-847) 5972200

 

 

OPERATIONS

 

Activities: Engaged in the manufacture and export of flexible packaging materials, including printed plastic bags for juice and powdered milk, as well as printing for plastic sacks, aluminium and paper.

 

        Subject is ISO 9001:2000 certified.

 

Production Capacity: 14,300 tonnes per annum

 

Import Countries: Netherlands, Germany and the United States of America

 

Export Countries: Saudi Arabia, Yemen, United Arab Emirates, Lebanon, Morocco, Nigeria, and Kenya

 

Operating Trend: Steady

 

Subject has a workforce of approximately 300 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 165,000,000                         £E 180,000,000

 

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

 

The above figures were provided by Mr Hassan Ibrahim, Financial Controller

 

 

BANKERS

 

·       Commercial International Bank (CIB)

61 Sultan Hussein Street

Alexandria

Tel: (20-3) 4824643 / 4834255

Fax: (20-3) 4832240

 

·       Egyptian American Bank

14 Salah Salem Street

PO Box: 1737

Alexandria

Tel: (20-3) 4835008

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              January 2005

Credit amount                                        260,000

Amount overdue                         0

Payment terms                                      90 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               Pounds Sterling

 

 

 

GENERAL COMMENTS

 

Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the company is deemed a fair trade risk and the above credit figure is considered to be within subject’s financial means.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.33

UK Pound

1

Rs.73.89

Euro

1

Rs.65.57

 

 

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.