MIRA INFORM REPORT

 

 

Report Date :           

04.04.2012

 

IDENTIFICATION DETAILS

 

Name :

VEM SPA

 

 

Registered Office :

Via Malignani 23, San Giorgio Di Nogaro, 33058

 

 

Country :

Italy

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

02.10.1990

 

 

Com. Reg. No.:

10162920150

 

 

Legal Form :

Public Subsidiary

 

 

Line of Business :

Manufacturer of machinery for working soft rubber or plastics

 

 

No. of Employees :

44

 

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 30th, 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 & address 

 

Vem SpA

Via Malignani 23

San Giorgio Di Nogaro, 33058

Italy

Tel:       +39 0431 622180

Fax:      +39 0431 622186

 

 

Synthesis  

 

Employees:                  44

Company Type:            Public Subsidiary

Corporate Family:          2 Companies

Ultimate Parent:            CIMTEC HOLDING SAS DI FERRI UGO & C.

Incorporation Date:         02-Oct-1990    

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2010

Reporting Currency:       Euro

Annual Sales:               16.0

Total Assets:                 25.7

 

 

Business Description     

 

Vem SpA is primarily engaged in manufacture of machinery for working soft rubber or plastics or for the manufacture of products of these materials (extruders, moulders, pneumatic tyre making or retreading machines and other machines for making a specific rubber or plastic product); manufacture of printing and bookbinding machines; manufacture of machinery for producing tiles, bricks, shaped ceramic pastes, pipes, graphite electrodes, blackboard chalk, foundry moulds, etc.; manufacture of moulding boxes for any material; mould bases; moulding patterns; moulds; manufacture of dryers for wood, paper pulp, paper or paperboard; manufacture of centrifugal clothes dryers; manufacture of diverse special machinery and equipment (machines to assemble electric or electronic lamps, tubes (valves) or bulbs; machines for production or hot-working of glass or glassware, glass fibre or yarn; machinery or apparatus for isotopic separation; rope-making machinery, etc.); and manufacture of industrial robots for multiple uses.

 

Industry             

Industry            Miscellaneous Capital Goods

ANZSIC 2006:    2499 - Other Machinery and Equipment Manufacturing Not Elsewhere Classified

NACE 2002:      2956 - Manufacture of other special purpose machinery not elsewhere classified

NAICS 2002:     333298 - All Other Industrial Machinery Manufacturing

UK SIC 2003:    2956 - Manufacture of other special purpose machinery not elsewhere classified

US SIC 1987:    3559 - Special Industry Machinery, Not Elsewhere Classified

 

           

Key Executives   

 

Name                Title     

Ugo Ferri           Sole administrator         

             

 

News   

 

Title

Date

Electus Secures Global Distribution Rights for Spike TV's Reality Television Series Flip Men, American Digger and Car Lot Cowboy
PR Newswire US (844 Words)

20-Jan-2012

IIROC: Resumption; Vena Resources Inc.
Marketwire (Canada) (95 Words)

14-Nov-2011

IIROC: Halt; Vena Resources Inc.
Marketwire (Canada) (119 Words)

14-Nov-2011

'Net Mobile unveils EUR 26.7 mln share capital increase plan'
DMeurope (201 Words)

28-Sep-2011

CARE hikes rating on long-term loans of VEM Technologies to B+
EquityBites (113 Words)

11-Aug-2011

 

Registered No.(ITA): 10162920150

 

 

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

Via Malignani 23

San Giorgio Di Nogaro, 33058

Italy

Tel:       +39 0431 622180

Fax:      +39 0431 622186

           

Sales EUR(mil):             12.1

Assets EUR(mil):           19.2

Employees:                   44

Fiscal Year End:            31-Dec-2010

Industry:                        Miscellaneous Capital Goods

Incorporation Date:         02-Oct-1990

Company Type:             Public Subsidiary

Quoted Status:              Not Quoted

Registered No.(ITA):       10162920150

Sole administrator:         Ugo Ferri

Contents

Industry Codes

Business Description

Financial Data

 

Industry Codes

 

ANZSIC 2006 Codes:

2499     -          Other Machinery and Equipment Manufacturing Not Elsewhere Classified

 

NACE 2002 Codes:

2956     -          Manufacture of other special purpose machinery not elsewhere classified

 

NAICS 2002 Codes:

333298  -          All Other Industrial Machinery Manufacturing

 

US SIC 1987:

3559     -          Special Industry Machinery, Not Elsewhere Classified

 

UK SIC 2003:

2956     -          Manufacture of other special purpose machinery not elsewhere classified

 

Business Description

Vem SpA is primarily engaged in manufacture of machinery for working soft rubber or plastics or for the manufacture of products of these materials (extruders, moulders, pneumatic tyre making or retreading machines and other machines for making a specific rubber or plastic product); manufacture of printing and bookbinding machines; manufacture of machinery for producing tiles, bricks, shaped ceramic pastes, pipes, graphite electrodes, blackboard chalk, foundry moulds, etc.; manufacture of moulding boxes for any material; mould bases; moulding patterns; moulds; manufacture of dryers for wood, paper pulp, paper or paperboard; manufacture of centrifugal clothes dryers; manufacture of diverse special machinery and equipment (machines to assemble electric or electronic lamps, tubes (valves) or bulbs; machines for production or hot-working of glass or glassware, glass fibre or yarn; machinery or apparatus for isotopic separation; rope-making machinery, etc.); and manufacture of industrial robots for multiple uses.

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

12.1

Assets:

19.2

Current Assets:

11.7

 

Total Liabilities:

19.2

 

Net Worth:

3.7

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

-50.3%

NA

 

 

 

Corporate Family

Corporate Structure News:

 

Vem SpA

Vem SpA 
Total Corporate Family Members: 2 

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

CIMTEC HOLDING SAS DI FERRI UGO & C.

Parent

 

 

 

 

 

 

Vem SpA

Subsidiary

San Giorgio Di Nogaro, Udine

Italy

Miscellaneous Capital Goods

16.0

44

 

 

 

 

Executive report

 

Executives

 

Name

Title

Function

 

Ugo Ferri

 

Sole administrator

President

 

 

 

Annual Profit & Loss

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.755078

0.719047

0.683679

Consolidated

No

No

No

 

 

 

 

Total income

17.9

35.8

27.4

Net sales

16.0

33.8

27.0

Other operating income

0.6

0.9

0.6

Raw materials and consumables employed

7.8

18.1

15.6

Other expenses

4.5

10.3

7.2

Total payroll costs

3.5

3.4

2.3

Fixed asset depreciation and amortisation

0.9

0.7

0.8

Other operating costs

0.1

0.6

0.1

Net operating income

1.1

2.7

1.4

Total financial income

0.0

0.2

0.1

Total expenses

0.5

1.3

1.1

Profit before tax

0.6

1.6

0.5

Extraordinary result

-0.1

-

-

Profit after extraordinary items and before tax

0.5

1.6

0.5

Total taxation

0.4

0.6

0.3

Net profit

0.2

1.0

0.2

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.745406

0.696986

0.719399

Consolidated

No

No

No

 

 

 

 

Total stockholders equity

4.9

5.1

3.2

Provision for risks

0.3

0.3

0.3

Provision for pensions

0.3

0.2

0.1

Mortgages and loans

2.6

2.1

2.0

Other long-term liabilities

-

-

0.0

Trade creditors

6.2

8.4

10.8

Advances received

-

1.0

5.1

Bank loans and overdrafts

9.1

3.7

7.0

Other current liabilities

2.0

2.5

0.6

Accruals and deferred income

0.3

0.3

0.2

Total current liabilities

17.7

15.8

23.6

Total liabilities (including net worth)

25.7

23.5

29.3

Intangibles

1.6

1.2

1.6

Buildings

3.1

2.8

2.0

Total tangible fixed assets

3.5

3.7

2.3

Long-term investments

3.8

1.0

1.2

Total financial assets

4.9

1.2

1.5

Receivables due after 1 year

-

0.0

0.0

Loans to associated companies

0.3

0.3

0.3

Total non-current assets

10.0

6.2

5.5

Work in progress

-

-

4.2

Finished goods

1.9

1.5

0.3

Net stocks and work in progress

2.7

2.1

4.9

Trade debtors

11.2

7.9

9.3

Other receivables

0.6

4.6

4.7

Cash and liquid assets

0.9

2.1

3.7

Marketable securities

-

-

0.7

Accruals

0.4

0.7

0.5

Total current assets

15.7

17.3

23.8

Total assets

25.7

23.5

29.3

 

 

Annual Ratios

 

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

12 Months

12 Months

12 Months

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.745406

0.696986

0.719399

Consolidated

No

No

No

 

 

 

 

Current ratio

0.90

1.10

1.00

Quick ratio

0.70

1.00

0.80

Current liabilities to net worth

0.04%

0.03%

0.07%

Sales per employee

0.27

0.58

0.59

Profit per employee

0.01

0.03

0.01

Average wage per employee

0.06

0.06

0.05

Net worth

4.9

5.1

3.2

Number of employees

44

42

26

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.56

UK Pound

1

Rs.81.05

Euro

1

Rs.67.49

 

 

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.