MIRA INFORM REPORT
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Report Date : |
24.11.2011 |
IDENTIFICATION DETAILS
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Name : |
INMOBAL NUTRER S.A. |
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Registered Office : |
Dr. Roberto Uncal Nº 673 (E32601MB),
Concepción del Uruguay, Entre Ríos Province |
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Country : |
Argentina |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
03.02.1977 |
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Com. Reg. No.: |
09/06/1977 - Nº 1803, Book 86, Volume |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Manufacture , Import and Commercialization
of Organic Chemical Products |
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No. of Employees
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235 Persons |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
Usually Correct |
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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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Argentina |
b1 |
b1 |
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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 |
Registered
Name
INMOBAL
NUTRER S.A.
CUIT No.: 30-58052893-3
Summary
BEGINNER OF ACTIVITIES. INCORPOARTED IN 1977. BALANCE DOES NOT HAVE
UPDATED FINANCIAL DATA. BALANCE SHEET AS OF 31/12/2010. IMPORTANT COMPANY
IN THE SECTOR. NORMAL OPERATIONS AND NO NEGATIVE ANTECEDENTS. UNTIL
HAVING UPDATED ACCOUNTING DATA, FOR CREDITS PROCEED WITH THE RESERVES IN THESE
CASES.
Operations
ORGANIC CHEMICAL PRODUCTS
MANUFACTURE
IMPORT
COMMERCIALIZATION
Legal
Structure
Business type: A
ORGANIC CHEMICAL PRODUCTS
MANUFACTURE
IMPORT
COMMERCIALIZATION
Public Limited Company
Incorporated: 03/02/1977
Registered: 09/06/1977
- Nº 1803, Book 86, Volume
Duration: Until 09/06/2076
End of fiscal year: December 31st
Contact
Administration, sales and industrial plant:
Dr.Roberto Uncal Nº 673 (E32601MB), Concepción del Uruguay, Entre Ríos
Province, Argentine Republic.
Phone: (54-03442) 441000
Fax: (54-03442) 441001
e mail: susana@inmobal-nutrer.com.ar
info@inmobal-nutrer.com.ar
Website: www.inmobal nutrer.com.ar
Foreign trade and sales: Rivadavia 1369 (C1033AAD), Buenos Aires City,
Argentine Republic.
Phone: (54-011) 4370-0111
Fax: (54-011) 4370-0194
E-mail: info@inmobal-nutrer.com.ar
Distribution centre, sales and industrial plant: Chacabuco No.285 (BS870BPE),
Avellaneda, Buenos Aires Province, Argentine Republic.
Phone: (54-011) 4229-2900
Fax: (54-011) 4229.2905
Partners
President :
MARCEILLAC LARREA OSCAR RAIMUNDO
Director: COLLARD BOVY DIEGO
Director: CROUZEL ROBERTO HORACIO
Director: IBARZABAL PEREZ DANIEL
Director: RODRIGUEZ ASEIJAS FRANCISCO
Alternate Director: SEEBER RICARDO VICENTE
The first mentioned one, as Managers, are in charge of the management and
administration of the company, with the use of the social signature.
Corporate
Stock
Subscribed and paid-in capital: $ 14.400.000 represented by same amount
of common shares, nominative, nonendorsable, par value $ 1,00 each with right
to vote per share.
History
According to our registered information, by
the 70's it was organized the company PRODUCTOS QUIMICOS INMOBAL with the
objective of performing the mentioned activities without major variables until
early 1977.
This company operated until early 1977, year in which the interested parts
agreed in changing its name to INMOBAL S.A. becoming follower of activities
until 2.9.1996.
It operated without changes until 02/09/1996, date in which it acquired by a
statutory merger to NUTRER S.A., which used to operate in Dr.Roberto Uncal
No.673, Concepción del Uruguay, Entre Ríos Province, being registered on
27/09/1994, Folder 1618.
On 01/07/1997 it started using the current name.
One of the first achievements reached by the company was the sole distribution
for Argentina of the products from CULTOR FOOD SCIENCE.
By mid-2000 THE TOWER FUNDA L.P. (TTF) carried out an important investment.
This company is integrated by a group of investors led by HSBC S.A.DE
INVERSIONES and CORPORACION FINANCIERA INTERNACIONAL (CFI).
Fits to highlight that on 02/07/2001 it acquired by a statutory merger to
COSMOQUIMICA S.A., which was dissolved without being liquidated.
Finally and before passing to other considerations, fits to indicate that it
was negotiated in the Extraordinary General Assembly celebrated the 28/08/2006
the merge by fusion of the company INMOBAL NUTRER S. R. L. that since its
incorporation occurred in 1997, operated with legal headquarters in Rivadavia
1367, 6o." A" of the City of Buenos
Aires.
Economic-Financial
Position
BALANCE SHEET 31.12.2010
ASSETS: 2008
2009 2010
------ ----
---- ----
Disp.,Inv.,Créd 83.177.436 98.759.191 130.518.764
Inventories 72.392.041 62.940.768 69.455.093
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Total current 155.569.477
161.699.959 199.973.857
Total non-current 8.985.195 10.168.316 9.205.156
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TOTAL ASSETS 164.554.672 171.868.275 209.179.013
=========== ===========
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LIABILITIES:
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Debts 68.169.331 65.414.433
102.857.196
Rem.& carg.soc. 4.835.385 6.623.172 5.937.073
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Total current 73.004.716 72.037.605 108.794.269
Total non-current 538.701 3.800
3.800
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Total liabilities 73.543.417 72.041.405 108.798.069
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Net worth 91.011.255 99.826.870 100.380.944
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GENERAL TOTAL 164.554.672 171.868.275 209.179.013
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INCOME STATEMENT:
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NET SALES 404.674.209 419.588.118 491.258.224
COST OF SALES -291.053.480-318.961.335-385.614.425
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GROSS PROFIT 113.620.729 100.626.783 105.643.799
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Expenses comerc. - 30.235.724- 37.061.329- 39.448.214
Expenses adminis. - 18.954.342- 20.832.365- 22.250.888
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Sub-Total 64.430.663 42.733.089
43.944.697
Others income/egres.- 26.106.047 14.755.167- 15.421.241
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FINAL RESULT 38.324.616 27.977.922 28.523.456
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Based on the figures presented, it is noted that at the end of last year then
practiced the owner had been touring with providing liquidity of 1.83 from 0.92
in turn own resources as to address each $ 1.00 of liabilities assumed on
behalf of third parties.
In terms of profitability for the year, indicates that it has been of 5.80% of
sales, which admits of reasonably acceptable to its importance in the sector.
Assets
REAL ESTATE:
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> Rivadavia 1367, 6o.piso, Ofic."A" y "B" (1033) de la
Ciudad de Buenos Aires.
> Dr.Roberto Uncal 673 (3260), Concepciòn del Uruguay, Pcia.de Entre Ríos.
> Parque Industrial - Planta Premix - Concepciòn del Uruguay, Pcia.de Entre
Ríos.
> Barraca "Los Merinos" situada en la Ciudad y Partido de
Avellaneda, Pcia.de Buenos Aires, con frente a la calle Florentino Ameghino
329/361/383/391 entre las de Chacabuco y Montes de Oca.
Evolution and
Results
The company is engaged in the industrialization
of synthetical organic chemical products, used for nutrition and animal health.
It has a first level automated plant on its area with modern technology and
techniques of control and management. It operates under international policies,
reason why it is one of the most modern establishmenet of Latin America.
It is considered as a leader in its sector.
On its establishment called "Planta Premix", it elaborates premixings
of Vitamins, Minerals and Nutritional Additives for animals (birds, pigs, bovines
and pets), as well as additives and products of veterinary use.
It has an important infrastructure and organization, where its directors
participate together with the necessary staff, among administrators,
technicians, etc.
MAIN SUPPLIERS:
===============
AJINOMOTO INTERAMERICANA LTDA.
Rua Joaquim Tavora 541 Vila Mariana
Sao Paulo.CEP 04015.001 Brasil
BASF A.G.
67056 Ludwigshafen, Alemania
BIESTERFELD SIEMSGLUSS GmbH
Ferdinandstrasse 41, 20095 Hamburg. Alemania
IND.ALCOSA S.A. DE C.V.
Autopista 45, Queteraro, Itapuato Km. 36
Paseo El Grande. Gto C.P. 38160 Mexico.
INDUSTRIAL KERN ESPAÑOLA S.A.
Lmonge@induquem.es
KK ANIMAL NUTRITION (PFY) LTD.
kk@feeds.kynoch.co.za
INDECAR S.A.
SOLVAY INDUPA S.A.
FOREIGN
TRADE:
==============
In the last twelve months it has carried out imports for a total value of u$s.
49.778.128 from the following countries:
CHINE ............................. u$s. 19.730.413
BRASIL ............................ u$s. 9.436.502
BELGIUM ........................... u$s. 4.085.980
OTHERS ............................ u$s. 16.525.233
* 235 EMPLOYEES.
Payment Record and Credit
Risk
BBVA BANCO FRANCES
HSBC BANK ARGENTINA
BANCO NACIONAL DE PARIS
BANCO SUPERVIELLE
BANCO DE GALICIA Y B.A.
BANCO SANTANDER RIO
CREDIT RISK:
------------
SEPTEMBER 2011
BCO.FRANCES 09/2011 1
$ 49.623.200
GALICIA "
" $ 15.159.100
SANTANDER RIO "
" $ 13.761.200
HSBC "
" $ 8.381.000
PCIA.BS.AIRES "
" $ 8.000.000
AMERICAN EXPRESS " "
$ 22.300
YPF S.A. "
" $ 8.800
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TOTAL: $ 94.955.600
============
(1) normal situation
INSURANCE:
---------
LA BUENOS AIRES NEW YORK LTDA.
INSTITUTO ASEGURADOR MERCANTIL
AGF ALLIANZ ARGENTINA
ASEGURADORA DE CREDITOS Y GARANTIAS S.A.
Concept
It is commercially related with local and
foreign companies. Many of them give it their credit support, not making up to
now objections about its payment record.
* FULFILLMENT: WITHOUT OBJECTIONS
Final
Opinion
Bearing in mind what has been exposed
hereby, we consider feasible the credit treatment with this company by amounts
of current importance with the adoption of appropriate guarantees.
* FIT FOR OPERATIONS.
LJM/CR
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.10 |
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UK Pound |
1 |
Rs.81.30 |
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Euro |
1 |
Rs.70.07 |
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.