MIRA
INFORM REPORT
|
Report Date : |
11.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
LAFER SPA |
|
|
|
|
Registered Office : |
Via Lago Di Garda 98 Schio, 36015 |
|
|
|
|
Country : |
Italy |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
31.12.1980 |
|
|
|
|
Com. Reg. No.: |
01279170243 |
|
|
|
|
Legal Form : |
Public Subsidiary |
|
|
|
|
Line of Business : |
Manufacture of machinery for textile, apparel and leather production |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Status : |
Moderate |
|
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 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Italy |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name and address
Lafer SpA
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Business
Description
|
Lafer SpA is primarily engaged in manufacture of textile machinery (machines
for preparing, producing, extruding, drawing, texturing or cutting man-made
textile fibres, materials or yarns; machines for preparing textile fibres:
cotton gins, bale breakers, garnetters, cotton spreaders, wool scourers, wool
carbonisers, combs, carders, roving frames, etc.; spinning machines; machines
for preparing textile yarns: reelers, warpers and related machines; weaving
machines (looms) including hand looms; knitting machines; machines for making
knotted net, tulle, lace, braid, etc.); manufacture of auxiliary machines or
equipment for textile machinery (dobbies, Jacquards, automatic stop motions,
shuttle changing mechanisms, spindles and spindle flyers, etc.); manufacture
of machinery for fabric processing (machinery for washing, bleaching, dyeing,
dressing, finishing, coating or impregnating textile fabrics; manufacture of
machines for reeling, unreeling, folding, cutting or pinking textile
fabrics); manufacture of laundry machinery (ironing machines including fusing
presses; laundry-type washing and drying machines; dry cleaning machines);
manufacture of sewing machines, sewing machine heads and sewing machine
needles; manufacture of machines for producing or finishing felt or
nonwovens; manufacture of leather machines (machinery for preparing, tanning
or working hides, skins or leather; and machinery for making or repairing
footwear or other articles of hides, skins, leather or furskins). |
Industry
|
Industry |
Miscellaneous Capital Goods |
|
ANZSIC 2006: |
2469 - Other Specialised Machinery and
Equipment Manufacturing |
|
NACE 2002: |
2954 - Manufacture of machinery for
textile, apparel and leather production |
|
NAICS 2002: |
333292 - Textile Machinery Manufacturing |
|
UK SIC 2003: |
2954 - Manufacture of machinery for
textile, apparel and leather production |
|
US SIC 1987: |
3552 - Textile Machinery |
Key Executives
|
News
|
1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7190468
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.6969855
Corporate Overview
|
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Corporate Structure News
|
Lafer SpA |
|
|
|
|
|
|
|
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
LAFIN SRL |
Parent |
|
|
|
|
|
|
Subsidiary |
Schio, Vicenza |
Italy |
Miscellaneous Capital Goods |
33.7 |
99 |
Executives Report
|
Lafer ends bid to stay
on borough council
Centre Daily Times (State College, PA): 30 August 2011
[What follows is the full text of the news story.]
Aug.
30--First-term State College Borough Councilwoman Theresa Lafer is stepping down
from that position, but plans to keep working with other local organizations.
"I'll still
be here," she said. "My voice isn't going anywhere."
Lafer ran for
re-election in the Democratic primary in May, but did not receive enough votes
to earn the party's nomination.
She received
enough write-in votes for a Republican nomination, but decided to withdraw.
Lafer was the only
candidate in Centre County to withdraw her name from the ballot for the Nov. 8
general election.
"It's not
real common," said Jodi Neidig, of the Centre County elections office.
"We don't have it happen often."
To withdraw from
the ballot, a candidate must complete a form. Neidig said it's the same process
whether a candidate ran for office or received a party's nomination.
Lafer said it
"didn't seem necessary" to run as a Republican and she didn't want
the race -- five candidates for four seats-- to become divisive.
The four
candidates who won the Democratic nomination are incumbents Peter Morris and
Jim Rosenberger, former council member Catherine Dauler and newcomer Sarah
Klinetob.
Lafer said she'll
continue work on the State College Community Land Trust and Highlands Civic
Association, and will continue her focus on housing and economic development in
the borough.
Tuesday, Oct. 11 is
the last day to register to vote before the general election.
Jessica VanderKolk
can be reached at 235-3910.
___
(c)2011 the Centre
Daily Times (State College, Pa.)
Visit the Centre
Daily Times (State College, Pa.) at www.centredaily.com
Distributed by MCT
Information Services
Write-in
candidates add to November ballot
Centre Daily Times (State College, PA): 11 June 2011
[What follows is the full text of the news story.]
June 11--A few new
names and races will appear on November's general election ballot, after Centre
County officials tabulated the write-in votes from last month's primary.
In the primary,
State College Borough Council incumbent Theresa Lafer did not receive enough
votes for a Democratic nomination.
But it turns out
she received enough Republican write-in votes to appear on November's ballot.
All five council
candidates appeared on the Democratic ballot, with four seats available.
Newcomer Sarah
Klinetob, former council member Catherine Dauler and incumbents Peter Morris
and Jim Rosenberger received the most primary votes.
Lafer did not
expect a nomination, but a few acquaintances told her they wrote her in. While
she said her friends have laughed about the party change, she said more
seriously that she would have liked to cross-file.
"In local
politics we shouldn't be worried about partisanship," she said. "We
should be worried about getting the job done."
Only school board,
district justice and judge candidates may file on both Democratic and
Republican ballots.
"I think it
should be very interesting," Lafer said. "Clearly it's going to be a
race."
Ferguson
Township'sBoard of Supervisors started with two candidates and will have four
on November's ballot.
Dick Mascolo ran
for and received the Republican nomination for Ward 1 supervisor, and Thomas
Brown ran for and received it for Ward 2.
Brown will face
Drew Clemson, a former township police lieutenant who received a Democratic
write-in nomination.
With no candidate
in Ward 3, as Richard Killian leaves the board due to term limits, his son,
Elliott Killian, ran for and received the write-in nomination on both ballots.
Killian just
finished his freshman year at Penn State and said he was interested in serving
after hearing his father talk about township issues.
"You have a
direct hand in the community's well-being," he said.
Clemson said he
was approached to campaign and "went with it." He said his main
concerns are transportation, regulating growth and providing services.
"I think the
issues are the same as when I retired in 2006," he said.
In Philipsburg,
two candidates ran for three open seats, with local insurance agent Walt Chorle
receiving the write-in nomination on both ballots.
Chorle said he
decided to run after the deadline to file nomination petitions. He served on
council from 1998 to 2002 and filled out a term for one year more recently.
"My wife and
I both work here, own here and we volunteer," he said of his inspiration
to run. "I'm not a follower, I'm a leader. It was the right thing to
do."
Many write-in
candidates had to file accumulation petitions to the Court of Common Pleas to
determine if name variations will be accepted in a candidate's vote count.
Joyce McKinley,
director of elections, said the hearing process is fairly simple and she has
never heard of a denied petition.
McKinley said the
hearings will take place in the next two to three weeks.
Jessica VanderKolk
can be reached at 235-3910.
___
To see more of The
Centre Daily Times, or to subscribe to the newspaper, go to
http://www.centredaily.com.
Copyright (c)
2011, Centre Daily Times, State College, Pa.
Distributed by
McClatchy-Tribune Information Services.
For more
information about the content services offered by McClatchy-Tribune Information
Services (MCT), visit www.mctinfoservices.com, e-mail
services@mctinfoservices.com, or call 866-280-5210 (outside the United States,
call +1 312-222-4544)
Write-in
candidates add to November ballot
Centre Daily Times (State College, PA): 10 June 2011
[What follows is the full text of the news story.]
June 10--A few new
names and races will appear on November's general election ballot, after Centre
County officials tabulated the write-in votes from last month's primary.
In the primary,
State College Borough Council incumbent Theresa Lafer did not receive enough
votes for a Democratic nomination.
But it turns out
she received enough Republican write-in votes to appear on November's ballot.
All five council
candidates appeared on the Democratic ballot, with four seats available.
Newcomer Sarah
Klinetob, former council member Catherine Dauler and incumbents Peter Morris
and Jim Rosenberger received the most primary votes.
Lafer did not
expect a nomination, but a few acquaintances told her they wrote her in. While
she said her friends have laughed about the party change, she said more
seriously that she would have liked to cross-file.
"In local
politics we shouldn't be worried about partisanship," she said. "We
should be worried about getting the job done."
Only school board,
district justice and judge candidates may file on both Democratic and
Republican ballots.
"I think it
should be very interesting," Lafer said. "Clearly it's going to be a
race."
Ferguson
Township'sBoard of Supervisors started with two candidates and will have four
on November's ballot.
Dick Mascolo ran
for and received the Republican nomination for Ward 1 supervisor, and Thomas
Brown ran for and received it for Ward 2.
Brown will face
Drew Clemson, a former township police lieutenant who received a Democratic
write-in nomination.
With no candidate
in Ward 3, as Richard Killian leaves the board due to term limits, his son,
Elliott Killian, ran for and received the write-in nomination on both ballots.
Killian just
finished his freshman year at Penn State and said he was interested in serving
after hearing his father talk about township issues.
"You have a
direct hand in the community's well-being," he said.
Clemson said he
was approached to campaign and "went with it." He said his main
concerns are transportation, regulating growth and providing services.
"I think the
issues are the same as when I retired in 2006," he said.
In Philipsburg,
two candidates ran for three open seats, with local insurance agent Walt Chorle
receiving the write-in nomination on both ballots.
Chorle said he
decided to run after the deadline to file nomination petitions. He served on
council from 1998 to 2002 and filled out a term for one year more recently.
"My wife and I
both work here, own here and we volunteer," he said of his inspiration to
run. "I'm not a follower, I'm a leader. It was the right thing to
do."
Many write-in
candidates had to file accumulation petitions to the Court of Common Pleas to
determine if name variations will be accepted in a candidate's vote count.
Joyce McKinley,
director of elections, said the hearing process is fairly simple and she has
never heard of a denied petition.
McKinley said the
hearings will take place in the next two to three weeks.
Jessica VanderKolk
can be reached at 235-3910.
___
To see more of The
Centre Daily Times, or to subscribe to the newspaper, go to
http://www.centredaily.com.
Copyright (c)
2011, Centre Daily Times, State College, Pa.
Distributed by
McClatchy-Tribune Information Services.
For more
information about the content services offered by McClatchy-Tribune Information
Services (MCT), visit www.mctinfoservices.com, e-mail
services@mctinfoservices.com, or call 866-280-5210 (outside the United States,
call +1 312-222-4544)
RIGHT TO WORK
DOESN'T DRIVE GROWTH
Wall Street Journal (Abstracts): 25 May 2011
[What follows is the full text of the news story.]
Gordon Lafer
letter responds to Arthur B Laffer and Stephen Moore'sMay 13 commentary on
NLRB's effort to block Boeing from setting up factory in South Carolina and on
competitive advantages companies seek in such right-to-work states
Borough Council
reluctantly rolls back ban on guns in parks
Centre Daily Times (State College, PA): 10 May 2011
[What follows is the full text of the news story.]
May 10--STATE
COLLEGE -- After a dozen public comments, Borough Council voted 4-3 at a
special meeting Monday night to repeal the ordinance prohibiting guns in parks.
Donald Hahn,
Theresa Lafer and Peter Morris opposed the change.
Timothy Havener,
president of the central chapter of the state political action committee
Firearms Owners Against Crime, initially approached State College and other
municipalities in February, noting the discrepancy between the ordinances
prohibiting gun possession in parks and state law, which does not do so and
does not allow municipalities to regulate gun possession.
Havener and Morris
argued at council's May 2 meeting, with Havener saying council and its members
committed a crime by prohibiting firearms in parks. Borough Council held
executive sessions May 2 and 3 to discuss the litigation threatened at that
meeting.
Some residents
argued for keeping parks peaceful and that guns should not be around children.
Thomas Thwaites
said awareness of the ordinance changed his park experience.
"I looked
very hard at the other people at the park, trying to see which ones were
armed," he said.
Kaitlyn Sanders,
who lives in Patton Township and is a Penn State graduate student, said she
carries a firearm for her own protection.
"I hope never
to have to use that firearm," she said. "But just as you have smoke
detectors in your house, just as you have fire extinguishers, you hope never to
have to use it, but it's there just in case."
Morris said the
only thing that happened since March 18, when the six council members present
agreed to take no action on the ordinance, was that "armed men"
attended May 2 and "threatened council members with criminal
prosecution" if they didn't change it.
Near the end of council's
subsequent work session, Morris proposed for future discussion signs in parks
and in the borough building, warning visitors that armed private citizens may
be in those locations.
Hahn said there
was a symbolic point to make, to reflect the wish to not see firearms in parks,
since solicitor Terry Williams earlier noted that the borough previously agreed
not to enforce the ordinance, but leave it on the books.
No council member
supported the change. President Ron Filippelli called the lack of municipal
control "bad law," but law nonetheless.
Harris Township
supervisors also planned Monday night to discuss changing that municipality's
similar ordinance. Manager Amy Farkas said supervisors would vote on moving the
issue to a public hearing and adoption June 13.
Ferguson Township
supervisors were the first in the Centre Region to change the ordinance, doing
so at last Monday's meeting. They approved it 4-1, with Steve Miller opposing.
While Miller said
he understands the need to change the ordinance, he voiced concern that police
would not respond to a suspicious person with a gun in the same way as if that
person had a sledgehammer.
Jessica VanderKolk
can be reached at 235-3910.
___
To see more of The
Centre Daily Times, or to subscribe to the newspaper, go to
http://www.centredaily.com.
Copyright (c)
2011, Centre Daily Times, State College, Pa.
Distributed by
McClatchy-Tribune Information Services.
For more
information about the content services offered by McClatchy-Tribune Information
Services (MCT), visit www.mctinfoservices.com, e-mail
services@mctinfoservices.com, or call 866-280-5210 (outside the United States,
call +1 312-222-4544)
Annual Profit & Loss
|
|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.719047 |
0.683679 |
0.730637 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Total income |
33.9 |
32.5 |
46.4 |
|
Net sales |
33.7 |
32.7 |
46.5 |
|
Other operating income |
1.0 |
0.2 |
0.2 |
|
Raw materials and consumables employed |
15.2 |
14.2 |
22.9 |
|
Other expenses |
11.0 |
9.3 |
11.8 |
|
Total payroll costs |
5.6 |
8.4 |
9.0 |
|
Fixed asset depreciation and amortisation |
0.5 |
0.5 |
0.7 |
|
Other operating costs |
0.2 |
0.4 |
0.3 |
|
Net operating income |
1.5 |
- |
1.7 |
|
Total financial income |
0.2 |
0.8 |
0.2 |
|
Total expenses |
0.3 |
0.7 |
0.7 |
|
Profit before tax |
1.4 |
- |
1.2 |
|
Extraordinary result |
0.0 |
0.0 |
- |
|
Profit after extraordinary items and before tax |
1.4 |
- |
1.2 |
|
Total taxation |
0.5 |
0.3 |
0.9 |
|
Net profit |
0.9 |
- |
0.3 |
|
Net loss |
- |
0.4 |
- |
|
|
|
Annual Balance
Sheet |
|
Financials in:
USD (mil) |
|
|
|
|
|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.696986 |
0.719399 |
0.683971 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Total stockholders equity |
5.4 |
4.3 |
5.0 |
|
Provision for risks |
0.6 |
0.5 |
0.5 |
|
Provision for pensions |
1.0 |
1.1 |
1.3 |
|
Mortgages and loans |
3.2 |
4.7 |
5.8 |
|
Other long-term liabilities |
0.1 |
0.0 |
0.0 |
|
Trade creditors |
14.4 |
7.4 |
11.7 |
|
Bank loans and overdrafts |
2.6 |
5.9 |
6.0 |
|
Other current liabilities |
3.0 |
2.9 |
3.3 |
|
Accruals and deferred income |
0.0 |
0.1 |
0.1 |
|
Total current liabilities |
20.0 |
16.3 |
21.2 |
|
Total liabilities (including net worth) |
30.4 |
27.0 |
33.8 |
|
Intangibles |
0.0 |
0.0 |
0.0 |
|
Buildings |
4.4 |
4.2 |
4.6 |
|
Total tangible fixed assets |
5.1 |
5.0 |
5.8 |
|
Long-term investments |
1.4 |
1.3 |
1.1 |
|
Total financial assets |
4.1 |
3.9 |
3.5 |
|
Receivables due after 1 year |
1.6 |
0.2 |
1.1 |
|
Loans to associated companies |
2.7 |
2.6 |
2.5 |
|
Total non-current assets |
10.8 |
9.1 |
10.5 |
|
Finished goods |
1.0 |
1.8 |
2.3 |
|
Net stocks and work in progress |
2.9 |
3.9 |
5.4 |
|
Trade debtors |
7.8 |
7.0 |
7.1 |
|
Other receivables |
1.4 |
0.4 |
0.5 |
|
Cash and liquid assets |
6.9 |
6.1 |
9.5 |
|
Accruals |
0.6 |
0.6 |
0.8 |
|
Total current assets |
19.6 |
18.0 |
23.4 |
|
Total assets |
30.4 |
27.0 |
33.8 |
|
|
|
Annual Ratios |
|
Financials in:
USD (mil) |
|
|
|
|
|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.696986 |
0.719399 |
0.683971 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Sales per employee |
0.54 |
0.51 |
0.77 |
|
Profit per employee |
0.02 |
- |
0.02 |
|
Average wage per employee |
0.09 |
0.13 |
0.15 |
|
Net worth |
5.4 |
4.3 |
5.0 |
|
Number of employees |
87 |
85 |
85 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.78 |
|
|
1 |
Rs.80.10 |
|
Euro |
1 |
Rs.68.82 |
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.