MIRA INFORM REPORT

 

 

Report Date :           

09.05.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

GRODNO KHIMVOLOKNO OAO

 

 

Formerly Known As :

Grodnenskiy Zavod Khimicheskogo Volokna / Grodnenskoe Proizvodstvennoye Obyedineniye Khimvolokno

 

 

Registered Office :

Slavinskogo Stret 4, Grodno 230026

 

 

Country :

Belarus

 

 

Date of Incorporation :

13.12.1971

 

 

Legal Form :

Open Joint Stock Company

 

 

Line of Business :

Manufacturers of nylon yarns and fibres, as well as polyamide-6 (PA-6) virgin and PA-6 based composite 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 :

B ROUBLE 5,000,000,000

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)

Belarus

b2

b2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

COmpany NAME 

 

Grodno Khimvolokno OAO (Correct)

JSC Grodno Khimvolokno V'L   (Requested)

 

 

company ADDRESS

 

Street               : Slavinskogo Stret 4

Town                 : Grodno 230026

Country             : Belarus

Telephone         : (375 152) 561264 / 561343 / 565615 / 567116 / 565329 / 265758

Fax                   : (375 152) 561264

E-Mail               : office@grodno-khim.by

Website            : www.grodno-khim.by

 

English Translation : Grodno Khimvolokno OJSC / Grodno Chemical Fibre OJSC

 

Formerly Known As : Grodnenskiy Zavod Khimicheskogo Volokna / Grodnenskoe Proizvodstvennoye Obyedineniye Khimvolokno

 

 

SENIOR COMPANY PERSONNEL

 

   Name                                                Position

 

1. Konstantin Pavlovich Mayanov             General Director

 

2. Aleksandr Vitoldovich Nadeiko             Chief Engineer

 

3. Irina Ivanovna Trosko                           Chief Accountant

 

Total Employees : 3,800

 

 

PAYMENTS

 

No complaints have been heard regarding payments from local suppliers

or banks.

 

Subject is a large manufacturer of nylon and polyester yarns and fibres, as well as polyamide 6 (PA 6) virgin and PA 6-based composite materials.

 

We consider it is acceptable to deal with subject for LARGE amounts,

although it is normal accepted practice for international suppliers

to deal on secured terms with Belarus importers.

 

Opinion on maximum credit : B ROUBLE 5,000,000,000

 

Trade risk assessment: Normal

 

 

PRINCIPAL BANKERS

 

NAME     : BPS BANK OAO

Branch   : Pervogo Maya Street 2/2

Town     : Grodno 230023

Telephone: (375 152) 790 300

Fax      : (375 152) 108 087

Acc. No. : B ROUBLE 3012000350016

 

 

FINANCIAL INFORMATION

 

Balance sheets are not available, however the subject interviewed offered the following information :

 

Sales Turnover          : B ROUBLE 443,146,000,000 - 2009 - exact

                        : B ROUBLE 644,627,000,000 - 2010 - exact

 

Net Profit              : B ROUBLE  31,243,000,000 - 2009 - exact

                        : B ROUBLE  19,373,000,000 - 2010 – exact

 

Financial Year ends 31 December.

 

 

LEGAL STATUS AND HISTORY

 

Date Started : 13 December 1971

 

History : The subject company was established on 13 December 1971 as

          a state owned company. Production started on 10 January

          1978. On 1 October 2002 it became an open joint stock

          company. In April 2011 subject started company

          reorganization by way of affiliation to Joint Stock Company

          Grodno Azot which is planned to be completed in July 2011.

 

Tax No. : UNP 500048054

 

Statistical Code: OKPO 00206262

 

Authorised Capital : B ROUBLE 317,781,000,000 (increased from B ROUBLE 97,265,520,000 in January 2011)

 

Paid-Up Capital : B ROUBLE 317,781,000,000 (increased from B ROUBLE 97,265,520,000 in January 2011)

 

Otkrytoye Aktsyonernoye Obshchestvo (open joint stock company) with

the following shareholders :

 

                                                                 Percentage

                       

1. Belarus State                                           99%

   represented by FGI

   (State Property Fund)

 

2. Other 517 minority shareholders                1%

   (subject’s employees)

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Manufacturers of nylon yarns and fibres, as well as polyamide-6 (PA-6) virgin and PA-6 based composite materials. Facilities of the enterprise allow producing ca. 50 thousand tons of nylon goods annually including:

 

- nylon industrial yarn;

- nylon cord fabric for tyre industry;

- nylon BCF yarn;

- nylon fibres for textile industry (staple);

- PA-6 granulated;

- PA-6 based composite materials;

- tufting floor coverings;

- consumer goods.

 

NACE Code: 2060

 

Imports from EU countries.

 

Exports worldwide.

 

 

FACILITIES

 

The Company has the following facilities :

 

Premises comprising manufacturing plant, extensive warehousing facilities and administrative offices located at the heading address.

 

 

SPECIAL NOTE

 

You enquired: JSC Grodno Khimvolokno V'L . Please note that this name applies to an English translation of the subject’s name. Subject’s correct registered name is as per heading.

 

Interviewed: Irina Ivanovna Trosko (Chief Accountant).

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.78

UK Pound

1

Rs.73.43

Euro

1

Rs.65.27

 

 

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.