MIRA INFORM REPORT

 

 

Report Date :           

07.11.2011

 

IDENTIFICATION DETAILS

 

Name :

DELAMINE B.V.

 

 

Registered Office :

Barchman Wuytierslaan 10, Amersfoort, 3818 LH

 

 

Country :

Netherlands

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

05.05.1976       

 

 

Com. Reg. No.:

023211860000

 

 

Legal Form :

Private Independent

 

 

Line of Business :

Manufacturer of  Industrial Organic Chemicals

 

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

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Netherlands

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address   Bottom of Form

 

 

Delamine B.V.

Barchman Wuytierslaan 10

Amersfoort, 3818 LH

Netherlands

Fax:      +31 033-4676891

 

 

Synthesis       

 

Employees:                   NA

Company Type:            Private Independent

Incorporation Date:         05-May-1976   

Registered No.(NLD):     023211860000

Financials in:                USD (Millions)

Fiscal Year End:            31-Dec-2010

Reporting Currency:       Euro

Annual Sales:               161.0

Total Assets:                86.0

 

 

Business Description     

 

Delamine B.V. is primarily engaged in manufacturing industrial organic chemicals, not elsewhere classified. Important products of this industry include: (1) aliphatic and other acyclic organic chemicals, such as ethylene, butylene, and butadiene; acetic, chloroacetic, adipic, formic, oxalic, and tartaric acids and their metallic salts; chloral, formaldehyde, and methylamine; (2) solvents, such as amyl, butyl, and ethyl alcohols; methanol; amyl, butyl, and ethyl acetates; ethyl ether, ethylene glycol ether, and diethylene glycol ether; acetone, carbon disulfide and chlorinated solvents, such as carbon tetrachloride, perchloroethylene, and trichloroethylene; (3) polyhydric alcohols, such as ethylene glycol, sorbitol, pentaerythritol, synthetic glycerin; (4) synthetic perfume and flavoring materials, such as coumarin, methyl salicylate, saccharin, citral, citronellal, synthetic geraniol, ionone, terpineol, and synthetic vanillin; (5) rubber processing chemicals, such as accelerators and antioxidants, both cyclic and acyclic; (6) plasticizers, both cyclic and acyclic, such as esters of phosphoric acid, phthalic anhydride, adipic acid, lauric acid, oleic acid, sebacic acid, and stearic acid; (7) synthetic tanning agents, such as naphthalene sulfonic acid condensates; (8) chemical warfare gases; and (9) esters, amines, etc., of polyhydric alcohols and fatty and other acids.

 

Industry

Industry            Chemical Manufacturing

ANZSIC 2006:    1812 - Basic Organic Chemical Manufacturing

NACE 2002:      2414 - Manufacture of other organic basic chemicals

NAICS 2002:     32519 - Other Basic Organic Chemical Manufacturing

UK SIC 2003:    2414 - Manufacture of other organic basic chemicals

US SIC 1987:    2869 - Industrial Organic Chemicals, Not Elsewhere Classified

 

           

Key Executives   

 

Name

Title

Gerrit Van Der Knaap

Managing director

E.J. Westerink

Purchasing manager

K. Muranaka

Head of accounting department

Jaap Boon

Member of the board

Jacobus Moerdijk

Member of the board

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783 
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064

 

 

Corporate Overview

 

Location

Barchman Wuytierslaan 10

Amersfoort, 3818 LH

Netherlands

Fax:      +31 033-4676891

Sales EUR(mil):             121.6

Assets EUR(mil):           64.1

Employees:                   NA

Fiscal Year End:            31-Dec-2010

Industry:                        Chemical Manufacturing

Incorporation Date:         05-May-1976

Company Type:             Private Independent

Quoted Status:              Not Quoted

Registered No.(NLD):     023211860000

Managing director:         Gerrit Van Der Knaap

 

 

Contents

 

·         Industry Codes

·         Business Description

·         Financial Data

·         Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

1812     -          Basic Organic Chemical Manufacturing

 

NACE 2002 Codes:

2414     -          Manufacture of other organic basic chemicals

 

NAICS 2002 Codes:

32519   -          Other Basic Organic Chemical Manufacturing

 

US SIC 1987:

2869     -          Industrial Organic Chemicals, Not Elsewhere Classified

 

UK SIC 2003:

2414     -          Manufacture of other organic basic chemicals

 

Business Description

Delamine B.V. is primarily engaged in manufacturing industrial organic chemicals, not elsewhere classified. Important products of this industry include: (1) aliphatic and other acyclic organic chemicals, such as ethylene, butylene, and butadiene; acetic, chloroacetic, adipic, formic, oxalic, and tartaric acids and their metallic salts; chloral, formaldehyde, and methylamine; (2) solvents, such as amyl, butyl, and ethyl alcohols; methanol; amyl, butyl, and ethyl acetates; ethyl ether, ethylene glycol ether, and diethylene glycol ether; acetone, carbon disulfide and chlorinated solvents, such as carbon tetrachloride, perchloroethylene, and trichloroethylene; (3) polyhydric alcohols, such as ethylene glycol, sorbitol, pentaerythritol, synthetic glycerin; (4) synthetic perfume and flavoring materials, such as coumarin, methyl salicylate, saccharin, citral, citronellal, synthetic geraniol, ionone, terpineol, and synthetic vanillin; (5) rubber processing chemicals, such as accelerators and antioxidants, both cyclic and acyclic; (6) plasticizers, both cyclic and acyclic, such as esters of phosphoric acid, phthalic anhydride, adipic acid, lauric acid, oleic acid, sebacic acid, and stearic acid; (7) synthetic tanning agents, such as naphthalene sulfonic acid condensates; (8) chemical warfare gases; and (9) esters, amines, etc., of polyhydric alcohols and fatty and other acids.

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

121.6

Assets:

64.1

Current Assets:

32.5

 

Total Liabilities:

64.1

 

Net Worth:

25.3

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

15.7%

NA

 

Key Corporate Relationships

Bank:    ABN AMRO Bank NV

 

 

Executive report

 

Board of Directors

Name

Title

Function

Jaap Boon

 

Member of the board

Director/Board Member

Jacobus Moerdijk

 

Member of the board

Director/Board Member

Nobuyuki Nagamasu

 

Member of the board

Director/Board Member

Albertus Oolbekkink

 

Member of the board

Director/Board Member

 

Executives

 

Name

Title

Function

Gerrit Van Der Knaap

 

Managing director

Managing Director

K. Muranaka

 

Head of accounting department

Accounting Executive

E.J. Westerink

 

Purchasing manager

Purchasing Executive

 

 

Annual profit & loss

 

 

 

31-Dec-2010

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.755078

0.683679

0.730637

Consolidated

No

No

No

 

 

 

 

Net sales

161.0

165.7

138.7

Other operating income

0.6

-

0.5

Cost of goods sold

115.6

135.7

114.1

Cost of sales

115.6

135.7

114.1

Gross profit

45.4

30.0

24.7

General expenses

10.0

10.3

8.8

Total operating costs

10.0

10.3

8.8

Net operating income

36.0

19.7

16.3

Total financial income

-

0.1

-

Total expenses

0.2

1.1

0.7

Profit before tax

35.9

18.7

15.7

Profit on ordinary activities after tax

26.7

14.1

11.7

Total taxation

9.1

4.6

4.0

Profit after tax

26.7

14.1

11.7

Net profit

26.7

14.1

11.7

 

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2008

31-Dec-2007

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.745406

0.719399

0.683971

Consolidated

No

No

No

 

 

 

 

Other reserves

18.2

5.0

2.8

Total stockholders equity

34.0

21.4

20.0

Provisions and allowances

3.9

0.7

0.7

Trade creditors

-

18.6

13.6

Total current liabilities

48.1

49.2

45.7

Total liabilities (including net worth)

86.0

71.3

66.4

Total tangible fixed assets

42.3

27.8

25.3

Total non-current assets

42.3

27.8

25.3

Net stocks and work in progress

9.9

13.6

14.1

Trade debtors

-

24.1

19.9

Total receivables

33.0

29.9

27.0

Cash and liquid assets

0.8

-

-

Total current assets

43.7

43.5

41.1

Total assets

86.0

71.3

66.4

 

 

Annual Ratios

 

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.745406

0.719399

0.683971

Consolidated

No

No

No

 

 

 

 

Current ratio

0.90

0.90

0.90

Acid test ratio

0.70

0.60

0.60

Current liabilities to net worth

1.41%

2.30%

2.28%

Fixed assets to net worth

1.25%

1.30%

1.26%

Collection period

-

55.80

49.10

Stock turnover rate

16.50

11.60

10.50

Sales to net working capital

-37.10

-27.60

-32.30

Asset turnover

1.90%

2.21%

2.24%

Profit margin

0.22%

0.11%

0.11%

Return on assets

0.42%

0.25%

0.25%

Shareholders' return

1.07%

0.83%

0.84%

Return on capital

0.95%

0.76%

0.77%

Net worth

34.0

21.4

20.0

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.08

UK Pound

1

Rs.78.65

Euro

1

Rs.67.79

 

 

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.