MIRA INFORM REPORT

 

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Report Date :           

10.09.2011

 

IDENTIFICATION DETAILS

 

Name :

I.C.A. INDUSTRIA CARTE ADESIVE SPA

 

 

Registered Office :

Via Cappelletta 58/60, Pagnano, Merate, 23807

 

 

Country :

Italy

 

 

Financials (as on) :

30.06.2010

 

 

Date of Incorporation :

27.05.1971       

 

 

Com. Reg. No.:

00207570136

 

 

Legal Form :

Public Independent Company

 

 

Line of Business :

manufacture of corrugated paper and paperboard, sacks and bags

 

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 :

-----

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Italy

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

 

Company name & address 

 

I.C.A. Industria Carte Adesive SpA

Via Cappelletta 58/60

Pagnano

Merate, 23807

Italy

Tel:       +39 0399 908121

Fax:      +39 0395 99255Suggest Company URL

 

 

Synthesis     

 

Employees:                  20

Company Type:            Public Independent

Incorporation Date:         27-May-1971   

Financials in:                 USD (Milloins)

Fiscal Year End:            30-Jun-2009

Reporting Currency:       Euro

Annual Sales:               3.8

Total Assets:                4.8

 

 

Business Description     

 

I.C.A. Industria Carte Adesive SpA is primarily engaged in manufacture of corrugated paper and paperboard, sacks and bags; manufacture of cartons, boxes and cases of corrugated paper and paperboard; manufacture of cartons, boxes and cases of non-corrugated paper and paperboard; manufacture of cartons and similar containers of paper and paperboard specifically designed for carrying liquids, whether or not waxed; and manufacture of other containers.

 

Industry

 

Industry            Containers and Packaging

ANZSIC 2006:    152 - Converted Paper Product Manufacturing

NACE 2002:       2121 - Manufacture of corrugated paper and paperboard and of containers of paper and paperboard

NAICS 2002:     322211 - Corrugated and Solid Fiber Box Manufacturing

UK SIC 2003:    2121 - Manufacture of corrugated paper and paperboard and of containers of paper and

paperboard

US SIC 1987:    2671 - Packaging Paper and Plastics Film, Coated and Laminated

 

           


Key Executives   

 

Name

Title

Riccarda Zucchi

President

Abbondio Salvioni

Executive

Alessandro Salvioni

Executive

Rosella Salvioni

Member of the board

Renata Zucchi

Member of the board

 

 

Registered No.(ITA): 00207570136

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.731067

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7129362

 

 

Corporate Overview

 

Location

Via Cappelletta 58/60

Pagnano

Merate, 23807

Italy

Tel:       +39 0399 908121

Fax:      +39 0395 99255

           

Sales EUR(mil):             2.8

Assets EUR(mil):           3.4

Employees:                   20

Fiscal Year End:            30-Jun-2009

Industry:                        Containers and Packaging

Incorporation Date:         27-May-1971

Company Type:             Public Independent

Quoted Status:              Not Quoted

Registered No.(ITA):       00207570136

Member of the board:     Rosella Salvioni

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

1510     -          Pulp, Paper and Paperboard Manufacturing

152       -          Converted Paper Product Manufacturing

 

NACE 2002 Codes:

2121     -          Manufacture of corrugated paper and paperboard and of containers of paper and paperboard

2112     -          Manufacture of paper and paperboard

 

NAICS 2002 Codes:

3221     -          Pulp, Paper, and Paperboard Mills

322211  -          Corrugated and Solid Fiber Box Manufacturing

 

US SIC 1987:

2621     -          Paper Mills

2671     -          Packaging Paper and Plastics Film, Coated and Laminated

 

UK SIC 2003:

2121     -          Manufacture of corrugated paper and paperboard and of containers of paper and paperboard

2112     -          Manufacture of paper and paperboard

 

Business Description

 

I.C.A. Industria Carte Adesive SpA is primarily engaged in manufacture of corrugated paper and paperboard, sacks and bags; manufacture of cartons, boxes and cases of corrugated paper and paperboard; manufacture of cartons, boxes and cases of non-corrugated paper and paperboard; manufacture of cartons and similar containers of paper and paperboard specifically designed for carrying liquids, whether or not waxed; and manufacture of other containers.

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

2.8

Assets:

3.4

Current Assets:

2.6

 

Total Liabilities:

3.4

 

Net Worth:

2.3

 

 

 

Date of Financial Data:

30-Jun-2009

 

1 Year Growth

-16.9%

NA

Key Corporate Relationships

Bank:

Credito Valtellinese Ag, Banca Nazionale del Lavoro Ag, Intesa Sanpaolo Ag

 

 

 

 

 

 

 

 

EXECUTIVE REPORT

 

Board of Directors

 

Name

Title

Function

 

Rosella Salvioni

 

Member of the board

Director/Board Member

 

Vittoria Zucchi

 

Member of the board

Director/Board Member

 

Renata Zucchi

 

Member of the board

Director/Board Member

 

 

Executives

 

Name

Title

Function

 

Riccarda Zucchi

 

President

President

 

Abbondio Salvioni

 

Executive

Other

 

Alessandro Salvioni

 

Executive

Other

 

Romano Salvioni

 

Executive

Other

 

 

 

Annual Profit & Loss

 

 

 

30-Jun-2010

30-Jun-2009

30-Jun-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.721483

0.731067

0.681859

Consolidated

No

No

No

 

 

 

 

Total income

4.0

3.7

4.2

Net sales

4.0

3.8

4.2

Other operating income

0.0

0.0

0.0

Raw materials and consumables employed

2.1

2.0

2.1

Other expenses

0.4

0.4

0.4

Total payroll costs

1.2

1.2

1.3

Fixed asset depreciation and amortisation

0.1

0.1

0.2

Other operating costs

0.2

0.2

0.2

Net operating income

-

-

0.1

Total financial income

0.0

0.0

0.0

Total expenses

0.0

0.0

0.0

Profit before tax

-

-

0.1

Extraordinary result

0.0

0.0

0.0

Profit after extraordinary items and before tax

-

-

0.1

Total taxation

0.0

0.0

0.1

Net profit

-

-

0.0

Net loss

0.0

0.2

-

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

30-Jun-2010

30-Jun-2009

30-Jun-2008

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.816393

0.712936

0.634699

Consolidated

No

No

No

 

 

 

 

Total stockholders equity

2.8

3.2

3.8

Provision for pensions

0.8

0.9

0.9

Trade creditors

0.8

0.6

-

Other current liabilities

0.1

0.1

0.9

Accruals and deferred income

0.0

0.0

0.1

Total current liabilities

1.0

0.8

1.0

Total liabilities (including net worth)

4.6

4.8

5.7

Intangibles

-

0.0

0.0

Total tangible fixed assets

0.4

0.5

0.8

Total financial assets

0.6

0.7

0.0

Receivables due after 1 year

0.0

0.0

0.0

Total non-current assets

1.1

1.2

0.8

Net stocks and work in progress

0.9

0.9

1.1

Trade debtors

1.2

1.2

-

Other receivables

0.1

0.1

1.6

Cash and liquid assets

1.3

1.3

2.2

Accruals

0.0

0.0

-

Total current assets

3.5

3.6

4.9

Total assets

4.6

4.8

5.7

 

 

Annual Ratios

Financials in: USD (mil)

 

 

 

30-Jun-2010

30-Jun-2009

30-Jun-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.816393

0.712936

0.634699

Consolidated

No

No

No

 

 

 

 

Sales per employee

0.28

0.27

0.23

Profit per employee

-

-

0.01

Average wage per employee

0.08

0.08

0.07

Net worth

2.8

3.2

3.8

Number of employees

20

20

24

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.38

UK Pound

1

Rs.74.01

Euro

1

Rs.64.48

 

 

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

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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%)

 

 

 

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.