MIRA INFORM REPORT
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Report Date : |
02.04.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
IMW INDUSTRIES ( CLEAN ENERGY COMPANY) |
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Registered Office : |
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Country : |
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Year of Establishment : |
1912 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Supplier of Compressed Natural Gas |
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No. of Employees
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250 |
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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 : |
USD 600,000 |
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Status : |
Good |
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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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Canada |
a1 |
a1 |
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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 |
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: USD |
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Legal Name: |
IMW Industries ( Clean Energy Company) |
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Trade Name: |
Clean Energy Company |
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Legal Address |
43676 Progress Way Chilliwack BC, V2R 0C3 Canada |
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Telephone: |
+1 (604)-795-94 91 |
Document Number : |
NA |
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Fax: |
+1 (604)-792-38 06 |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
British Columbia |
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Website: |
Date Created: |
1912 |
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Manager: |
Bradley Miller, President & Board Member |
Date Incorporated: |
1913 |
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Staff: |
250 |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Supplier of Compressed Natural Gas |
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Name of the Bank |
HSBC (CANADA) |
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HISTORY |
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-July 6, 2010, Clean Energy Fuels Corp. and IMW Industries, Ltd. have
signed a definitive agreement for Clean Energy to acquire IMW. Clean Energy
Fuels Corp. (Nasdaq: CLNE) acquired IMW and its subsidiaries in Colombia, Bangladesh
and China for consideration of $125 million plus a cash earn-out arrangement. -August 6, 2006, IMW Opens China Office as wholly-owned office and CNG
service center in Shanghai. -IMW Industries is a private company created in 1912 and based in British
Columbia. |
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PRINCIPAL ACTIVITY |
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IMW Industries, Ltd. manufactures compressed natural gas (CNG)
equipment for vehicle fueling and industrial applications. The company, along
with its subsidiary, offers compressors, dispensers, fueling and dispensing
systems, storage systems, CNG parts, compressor enclosures, and technical
services. |
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Products/Services description: |
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-Gas for industrial users. -CNG station operators -vehicle manufacturers -private fueling station owners -CNG fuel providers, packagers, and owners of compressed natural gas
and compressed hydrogen |
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Sales are: |
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Wholesale |
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Clients: |
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Vehicle manufacturers, natural gas companies, vehicle fleet operators,
private fuelling station owners, and CNG fuel providers |
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Suppliers: |
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Euro Marmol Carrera 67 No 10 20 Loma 3 Lt B Barranquilla Colombia Cangzhou Daughter Ltd. 181 Taihua St Shijiazhuang 050051 Hebei China JIANGYIN HEILAN HYBAL IMP EXP COLTD NO.118,MIDDLE CHENGJIANG ROAD, JIANGYIN,JIANGSU,CHINA JIANGSU CN |
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Operations area: |
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National, International |
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The company imports from India, Colombia, China. |
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The company exports to Europe and Asia, Latin America |
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Trade References: |
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Despite our saerches we were not able to find any company's trade
references. |
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Competitors: |
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Chevron Corporation 6001 Bollinger Canyon Road San Ramon, CA 94583, USA Telephone: +1 925.842.1000 http://www.chevron.com ConocoPhillips 600 North Dairy Ashford (77079-1175) P.O. Box 2197 Houston, TX 77252-2197 Phone: 281-293-1000 http://www.conocophillips.com Petróleos de Venezuela S.A. http://www.pdvsa.com/ Petróleos Mexicanos Marina Nacional #329, Col. Petróleos Mexicanos, C.P. 11311 México D.F. (+52 55) 1944 2500. http://www.pemex.com/ Repsol YPF SA Paseo de la Castellana 278-280 28046, Madrid (España) http://www.repsol.com Tokyo Electric Power Company http://www.tepco.co.jp |
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The subject employs 250 employees |
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PAYMENTS |
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made on a 55 days basis - monitored over the last 12 months |
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LOCATION |
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Headquarters |
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The company is headquartered at 43676 Progress Way Chilliwack BC, V2R 0C3, Canada |
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Listed at the stock exchange: |
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NO |
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Shareholders Parent Companies: |
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IMW Industries is working as subsidiary Clean Energy Fuels Corp.,
which is listed at the stock exchange under CLNE, and is located at: 3020 Old Ranch Parkway, Suite 400 Seal Beach, CA 90740 Tel: (562) 493-2804 Fax: (562) 493-4532 http://www.cleanenergyfuels.com Clean Energy Fuels Corp., together with its subsidiaries, provides
natural gas as an alternative fuel for vehicle fleets in the United States
and Canada. The company designs, builds, operates, and maintains fueling
stations, as well as supplies compressed natural gas (CNG) and liquefied
natural gas (LNG) fuel for medium and heavy-duty vehicles. |
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Management: |
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-Mr. Brad Miller President -Mr. Kevin Nerling Global Service Director -Mr. David Gamble Sales Director for South Asia |
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Related Companies: |
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USA IMW Industries 6943 Salashan Parkway Ferndale, Washington, USA 98248 Phone: (360) 483-5594 Fax: (360) 614-1202 North America Toll Free: 1-877-446-9648 aftermarket@imw.ca China IMW Compressors (Shanghai) Co., Ltd. Room 501, Building 9 1888 Xin Jin Qiao Road, Golden Bridge Export Processing Zone Pudong, Shanghai, P.R.C. 201206 Phone: +86 21 33820103 Fax: +86 21 33820109 asia-aftermarket@cn.imw.ca Bangladesh IMW CNG Bangladesh Ltd. House# 376/A (3rd Floor), Road# 28, New DOHS, Mohakhali, Dhaka- 1206, Bangladesh Phn: +88 01730044450-1 info@imwbd.com Colombia IMW Colombia Ltda. Via 40 #69 - 58 Bodega A-1 Parque Industrial Via 40 Barranquilla, Colombia Phn: (57) 5-344-3171 / 5-344-3454 Fax: (57) 5-360-1236 imwcolombia@co.imw.ca Malaysia Spectron Sdn Bhd No. 1-19, Prima Avenue 2 Jalan Kenari 13C Bandar Puchong Jaya 47170 Puchong, Selangor, Malaysia Phn: 603-8071 5888 Fax: 603-8071 6593 general@spectron.com.my Czech Republic Bonett Bohemia, a.s. Sudomerska 1293/32 Prague 3 13000 Czech Republic Phn: +420 222 801 911 Fax: +420 222 801 917 servis@bonett.cz Nigeria NG Equipment & Systems Limited. # 12 Atunwa Street 2ND Floor, Off Unity Road, Ikeja Lagos Nigeria Phone: 234-1-8941434 Fax: 234-1-2557857 sales@cngequipment.com Pakistan Allied Engineering Services Limited 21/3, Sector No.22, Korangi Industrial Area, Karachi-74900 Pakistan G.P.O.Box 940 Phone: (0092-21) 111 250 250 Fax: (0092-21) 5066915 compressor@aesl.com.pk Thailand Polytechnology Co., Ltd. 108/59 Soi Tonson, Cheangwattana Road Pakkred, Nonthaburi 11120 Thailand Phone: +662-9605070 Ext # 214 , 212 Fax: +662-584-6771 phuttipong@polytech.co.th Peru Penta Gas Sac El Estaño 5714 Lima - 39 Peru Phone: +51.1.528-1905 Fax: +51.1.528-6688 gnv@penta-gas.com |
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As a private company the subject does not publish any financial
statements. |
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We have contacted The company\'s financial department who refused
to provide us any financial data on grounds of confidentiality. |
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However our financial sources could provide us with the following data
(estimates): |
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Currency |
DATE |
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CAD |
2010 |
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Turnover |
45,000,000 |
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The cash flow is |
Normal |
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The
sources consulted record no detrimental legal or labor court information. |
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Local credit bureau gave a correct credit
rate. The company is in Good Standing. This means
that all local and federal taxes were paid on due date. |
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Final Opinion |
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-The company has a long experience in the
market (about 100 years). -The company's profitability is correct
and the length of payment remains regular. -The parent company (Clean Energy), is
still paying the acquisition by promissory notes: 1-payable on January 31, 2011 2-payable on January 31, 2012 3-payable on January 31, 2013 -The business where IMW develops is
profitable, and reliable. -A credit line may be considered for USD
600,000. |
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Profitability |
N.A. |
Public |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
CORRECT |
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Comments |
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We have contacted The company's financial department who refused to
provide or confirm information. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.16 |
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UK Pound |
1 |
Rs.81.72 |
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Euro |
1 |
Rs.68.34 |
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.