MIRA INFORM REPORT
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Report Date : |
01.11.2011 |
IDENTIFICATION DETAILS
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Name : |
WEISMANN-FRIEDMAN INDUSTRY DEVELOPMENT LTD. |
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Registered Office : |
P.O. Box 10028, Dshanim Compound, Haifa Bay,
Kiryat Ata 26110 |
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Country : |
Israel |
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Date of Incorporation : |
25.12.1989. |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturers and marketers of extruded
plastic profiles and tubes for electricity, telecommunications, drainage and other
infrastructures. |
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$ 200,000. |
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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
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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
WEISMANN-FRIEDMAN INDUSTRY DEVELOPMENT LTD.
Telephone 972
4 846 85 28
Fax 972
4 846 85 29
P.O. Box 10028
Dshanim Compound
Haifa Bay
KIRYAT ATA-26110 ISRAEL
HISTORY
& LEGAL FORMATION
A private limited company, incorporated as per file No. 51-143654-5 on the
25.12.1989.
Prior to the establishment of subject the shareholders were among the
shareholders in WEISMANN ELECTRIC INDUSTRIES LTD., established many years
earlier. This company sold its manufacturing facilities to another firm and
became non-active.
SHARE
CAPITAL
Authorized share capital NIS 2,640.00, divided into -
2,640 ordinary shares of
NIS 1.00 each,
of which 100 shares amounting to NIS 100.00 were issued.
SHAREHOLDERS
1. Yoel Friedman, 50%,
2. Jacob Weismann, 50%.
DIRECTORS
& JOINT GENERAL MANAGERS
1. Yoel Friedman,
2. Jacob Weismann.
BUSINESS
Manufacturers and marketers of extruded plastic profiles and tubes for electricity,
telecommunications, drainage and other infrastructures.
All sales are to the local market, to utilities, building and
infrastructure corporations.
Among clients: ISRAEL ELECTRIC CORP., ASHTROM GROUP, SOLEL BONEH, etc.
Among local suppliers: TOSAF COMPOUNDS, KAFRIT INDUSTRIES, SORPOL, CARMEL
OLEFINS, etc.
Operating from rented premises, offices, plant and storage facilities, on
an area of 15,000 sq. meters, in Dshanim Compound, Haifa Bay Industrial Zone,
Kiryat Ata.
Having 60 employees (similar to 2010).
MEANS
Current stock is valued at NIS 5,000,000 (was valued at NIS 6,000,000 in
the beginning of 2011).
Other financial data not forthcoming.
There are 8 charges for an unlimited amounts, as well as 1 charge for the sum
of NIS 90,000.00 registered on the company's assets, in favor of The First
International Bank of Israel Ltd., Poalei Agudat Israel Bank Ltd. and Bank Hapoalim Ltd. (last 3 charges placed July – September 2011).
SALES
2008 sales claimed to be NIS 25,000,000.
2009 sales claimed to be NIS 27,000,000.
2010 sales claimed to be NIS 33,000,000.
2011 projected sales are NIS 33,000,000.
OTHER
COMPANIES
SHLOMIT MATERIAL
RECYCLING LTD., established in 1991, owned by subject’s shareholders, engaged
in materials recycling.
BANKERS
·
Bank Leumi
Le’Israel Ltd., Haifa Main Branch (No. 876), Haifa.
·
Poalei
Agudat Israel Bank Ltd., Haifa Branch (No. 187), Haifa.
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Bank Hapoalim Ltd., Hamifratz Branch (No. 791), Haifa.
CHARACTER
AND REPUTATION
Nothing unfavorable learned.
This is a veteran
company, well-known in their field.
Subject is ISO
9001:2000 certified and meets international standards for transformers manufacturing.
SUMMARY
Good for trade engagements.
Maximum unsecured credit recommended US$ 200,000.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.87 |
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UK Pound |
1 |
Rs.78.11 |
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Euro |
1 |
Rs.68.36 |
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.