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Report Date : |
16.04.2012 |
IDENTIFICATION DETAILS
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Name : |
BELORUSSKIY AVTOMOBILNIY ZAVOD OAO |
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Formerly Known As : |
ZAVOD TORVYANOGO MASHINOSTROENIA |
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Registered Office : |
40 let Oktyabrya Street 4 Zhodino 222160 |
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Country : |
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Year of Establishment : |
1948 |
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Legal Form : |
Open Joint Stock Company |
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Line of Business : |
Manufacturers of mining equipment, mining dump trucks, construction & road-building equipment, vehicles for mine-servicing works, underground vehicles, vehicles for metallurgical works and railway freight cars. |
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No. of Employees : |
12,000 plus |
RATING & COMMENTS
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MIRAs 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 : |
B ROUBLE 50,000,000,000 |
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Status : |
Satisfactory |
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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 March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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B2 |
B2 |
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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 |
Belorusskiy
Avtomobilniy Zavod OAO (Correct)
OJSC Belarusian Autoworks
or OJSC Belaz (Requested)
Street : 40 let Oktyabrya Street 4
Town
: Zhodino 222160
Country :
Telephone : (375 1775) 32782 / 32623 / 33737 /
32313 / 33448 (Aleksandr Nikolaevich Pushkin) / 71135
(Tatyana Stepanovna Litvinkovich) / 36073 (Sergey Vladimirovich Chumakov)
Fax : (375 1775) 33970 / 70137
E-Mail : office@belaz.minsk.by /
a.pushkin@belaz.minsk.by / t.litvinkovich@belaz.minsk.by
Website : www.belaz.by
Trading Style :
BelAZ
Shortform Name : BelAZ OAO / BelAZ OJSC
Extended Name : BelAZ Otkrytoye Aktsyonernoye
Obshchestvo
English Translation : Belarusian Autoworks OJSC
Formerly known as : Zavod Torvyanogo Mashinostroenia /
Zavod Meloirativnykh i Dorozhnyh Mashin Dormash / Predpriyatie Belorusskiy
Avtomobilniy Zavod / Belorusskiy Avtomobilniy Zavod RUPP
Name Position
1. Petr Aleksandrovich Parkhomchik General
Director
2.
3. Aleksandr Nikolaevich Egorov General
Designer
4. Oleg Tadeushevich Mazuro Deputy
General Director / Commerce
5. Dmitriy Ivanovich Kharitonchik Deputy General Director / Quality
6. Anatoliy Alekseevich Rovba Deputy General Director / Production
7. Andrey Aleksandrovich Doronin Deputy General
Director / Economics
8. Aleksandr Antonovich Batyuk s Deputy General Director
/ Social
9. Stanislav Eduardovich
Yakubovich Deputy General Director / Information
10.Anatoliy Vasilevich Korotun Deputy
General Director
11.Vladimir Vladimirovich Rudkovskiy Marketing Director
12.Radik Grigorievich Mukhtasarov Assistant
to General Director
13.Vladimir Mikhailovich Semashko Assistant
to General Director
14.Aleksandr Miroslavovich Botvinnik Assistant
to General Director
15.Viktor Viktorovich Rudiy Chief Technology Officer
16.Tatyana Stepanovna Litvinkovich Head of Financial Department
17.Aleksandr Nikolaevich Pushkin Chief Accountant
18.Sergey Vladimirovich Chumakov Manager
Total Employees :
12,000 plus
No complaints have been heard regarding payments from
local suppliers or banks.
Subject is a state owned company operating since 1948.
Subject is one of the leading manufacturers of mining equipment with market
share 33% in the world. Subject is also member of Belorusskiy Avtomobilniy
Zavod PO (Production Enterprise).
We consider it is acceptable to deal with subject for
LARGE amounts,
although it is normal accepted practice for
international suppliers to deal on secured terms with Belarus importers.
Opinion on maximum credit : B ROUBLE 50,000,000,000
Trade risk assessment: Normal
BELARUSIAN BELAZ TO BE ASSEMBLED IN KUZBASS
10 April 2012, (www.tvr.by): The Russians are ready
to build a new joint plant in Kemerovo. 90 ton cars are planned to be assembled
here.
Vadim Shcheglov reports: Coal mining in Kuzbass is
the main source of income of Kemerovo Region. Zhodino BelAZ has already been
tested in Kuzbass. Today businessmen of Kemerovo arrived in Zhodino with a
proposal - to assemble the Belarusian giants jointly.
Officials, businessmen and journalists of Kemerovo
were met as old friends - Kuzbass dealers are the largest customers of BelAZ.
Last year Russia purchased more than half of trucks produced at the Belarusian
Autoworks. The Russians came up with a proposal to build a new plant in
Kemerovo.
(Mikhail Fedyaev, President of the holding company)
Such cooperation will be profitable both for
Belarusian and Russian producers - they will gradually squeeze competitors from
the markets of the partner under the single economic space. A promising line of
development is creation of the so-called new generation of vehicles with
capacity of 220 and 360 tons.
The Russians are particularly interested in a 450 ton
truck. It will be the biggest car in the world.
BELAZ TRUCK TO HOLD FIRST BELARUSIAN IPO
2 April 2012, (www.rian.ru): Belarusian truck maker
Belarusian Autoworks (BelAZ) is to hold an initial public offering, the first
time a Belarusian enterprise has gone to the markets, General Director Pyotr
Parkhomchik said on Monday.
"A working group to prepare the enterprise for
the IPO has been established in BelAZ. The company is going to transfer
accounting to international financial reporting standards for that
purpose," Parkhomchik told state Belarusian Economy magazine, without
specifying where BelAZ would try to float.
The company is likely to start contacts with foreign
banks to conduct the IPO by the end of 2012, Belarusian First Deputy Prime
Minister Vladimir Semashko said in late February.
BelAZ had planned last year to trade on the Frankfurt
Stock Exchange in cooperation with Deustche Bank, but the bank later pulled out
of the project and curtailed its cooperation with Belarus.
"BelAZ will be the first Belarusian company to
hold an offering. [Belarusian President Alexander] Lukashenko also said some
time ago that BelAZ will be the first company which Belarus will try to sell on
the international markets," VTB Capital analyst Vladimir Bespalov told RIA
Novosti.
BelAZ is included in a Belarusian privatization plan
in which Minsk hopes to raise $2.5 billion.
Minsk would face difficulties selling the company's
shares as "Belarus values its assets rather highly and this is a big
problem if investors want to pay the proposed price with Belarusian risk,"
Bespalov said.
BelAZ says it will provide future investors with full
information to promote the company's stock on foreign markets, General Director
Parkhomchik said.
BelAZ manufactures heavy-duty and super-size mining
dump trucks, half of which are exported to Russia, the firm says.
BELAZ TO INCREASE EXPORTS TO CHINA IN 2011
26 April 2011: (www.belaruschina.by): OJSC
"Belarusian Autoworks" (BELAZ) is planning to significantly increase
its exports to China in the current year, Mr. Piotr Parkhomchik, the General
Director of the enterprise told reporters. Nowadays exports to the country
amount to $50 mln.
Today 95-96%
of the company's output is exported. BelAZ trucks are supplied to the markets
of the CIS countries, Estonia, Czech Republic, South Africa, Chile, China,
Vietnam, Iran. "We have gained a foothold in the Chinese market, our
exports there range within $50 million. This year the figure will significantly
increase due to the established joint venture in China," Mr. Piotr
Parkhomchik said.
He stressed
that this was a challenging market, but worth the efforts because its capacity
in dump truck segment was huge. The Chinese market has all the leading
automotive vehicle manufacturers there. "Our position here is strong;
weve gained about 15% of the Chinese dump truck market. This is a great
success. Moreover, weve switched from the supply of light duty trucks 30-45
tonnes to the supply of heavy duty trucks 136-220 tonnes, Mr. Piotr
Parkhomchik pointed out. According to him, just over the last three years China
was delivered over 150 production units.
The BelAZ
General Director pointed out that the enterprise was actively working at sales
geography expansion. The work resulted in lucrative contracts signed in
QI/2011. For instance, $40 million worth of dump trucks will be delivered to
Mongolia, nearly $35 million to China. More than that, BelAZ is currently
working to win a share of the Indian market, has successfully negotiated
supplies to Indonesia. Talks are in progress on deliveries of mining trucks to
Australia, where the first batch of Belarusian machines already operates.
Negotiations to get a regular consignment of BelAZ trucks are being held with
the Chile partners of the enterprise (16 dump trucks of different load
capacity). A joint company is now promoting BelAZ on the U.S. market.
In times to
come, exports to the non-CIS countries are projected to increase from 20% (in
2010) to 21-22%. Forecasts say deliveries to the CIS member states are to grow
too, whereas exports to Russia will drop from 60% (in 2010) to traditional
50-52%.
OJSC
"Belarusian Autoworks" (BELAZ) is a major world manufacturer of
mining dump trucks of heavy-duty and super-size load capacity, as well as the
other heavy vehicles, being used in mining and construction branches of
industry. All achieved by BELAZ within 60-year old history is the result of
implementation of the enterprise main policy: the fullest satisfaction of the
customers needs, with which "Belarusian Autoworks" has long-term
effective cooperation.
POWER MACHINES AND BELAZ SIGNED COOPERATION AGREEMENT
30 October 2007, (www.power-m.ru): Igor Kostin, CEO
of Power Machines, and Petr Parkhomchik, CEO of Republic Unitary Manufacturing
Enterprise (RUME) BelAZ (Republic of Belarus), signed a Cooperation Agreement in
the field of manufacture and supply of tractive electric drives for large
trucks and their corresponding service.
The Agreement shall be valid for two years till the
end of July, 2009. In the frame of the Agreement Power Machines shall start
batch production of kits of variable frequency asynchronous drives for
heavy-duty trucks of 136 tones capacity including service and shall work-out
and manufacture asynchronous drives prototype kits for trucks of 240 and 320
tones capacity and their subsequent batch production.
Following the results of trial operation of equipment
the companies are going to study the possibility of development of cooperation
in the field of production of separate elements and components for truck
asynchronous drives.
Earlier Power Machines designed and manufactured for
RUME BelAZ a prototype variable frequency asynchronous drive for heavy-duty
trucks of 136 tones capacity which became the first development of this kind in
the Russian electrical engineering market. Variable frequency asynchronous
drives of Power Machines production with its technical and operational
characteristics can compete with analogous equipment of Siemens and GE
production.
NAME : BPS-SBERBANK OAO
Branch : 40 let Oktyabrya Street 19A
Town : Zhodino 222160
Telephone :
(375 1775) 34823
Fax : (375 1775) 34823
The company also has an account with the following
banks:
1. Priorbank OAO
Banking Services Centre 101
Timiryazeva Street 65A
Minsk 220035
Telephone: (375 17) 289 9702
Fax : (375 17) 289 9713
2. Belarusbank ASB
pr. Dzerzhinskogo 69/1
Minsk
Telephone: (375 17) 279 4879 / 279 4676
Fax : (375 17) 279 4804
State owned companies in Belarus are not required to
publish or disclose balance sheets. However, the subject interviewed offered
the following information :
Sales Turnover :
B ROUBLE 2,009,161,000,000 - 2010 - exact
: B ROUBLE 5,339,304,000,000 - 2011 -
exact
Net Profit :
B ROUBLE
315,117,000,000 - 2010 - exact
: B ROUBLE 2,839,703,000,000 - 2011 -
exact
Net Profit (after tax) :
B ROUBLE 2,083,305,000,000 - 2011 - exact
Financial year ends 31 December.
Date Started : 1948
History : The subject company was established in
Belarus in 1948 under the name Zavod Torvyanogo Mashinostroenia. In November
1951 subject changed its name to Zavod Meloirativnykh i Dorozhnyh Mashin
Dormash. On 17 April 1958 subject was renamed to Predpriyatie Belorusskiy
Avtomobilniy Zavod. In 2003 subject reregistered and became Belorusskiy
Avtomobilniy Zavod RUPP. In 2009 subject was converted into an Open Joint Stock
Company.
Tax No.: UNP 600038906
Statistic Code: OKPO 05808712
Authorised Capital : B ROUBLE 1,413,319,600,000 (as
of January 2012)
Paid-Up Capital : B ROUBLE 1,413,319,600,000 (as of
January 2012)
Otkrytoye Aktsyonernoye
Obshchestvo (open joint stock company) with the following sole shareholder :
Republic of Belarus 100%
Subject is member of Belorusskiy Avtomobilniy Zavod
PO (Production Enterprise), which also includes:
1. Mogilevskiy Avtomobilniy Zavod imeni S. M. Kirova
(MoAZ)
Vitebskiy
Avenue 5
Mogilev
212601
Telephone:
(375 222) 422 564
Fax : (375 222) 422 564
2. Mogilevskiy
Vagonostroitelniy Zavod SZAO
Vitebskiy
Avenue 5
Mogilev
212601
Telephone:
(375 222) 443 415
Fax : (375 222) 422 564
3. Starodorozhskiy Mekhanicheskiy
Zavod OAO
Krivosheina Street 1
Stariye Dorogi 222932
Minskaya Oblast
Telephone: (375 1792) 55664
Fax : (375 1792) 55519
Managing Director: Igor Antonovich Bontsevich
Est.: 1972
4. Kuzlitmash OAO
Zholtovskogo Avenue 109
Pinsk 225710
Brestskaya Oblast
Telephone: (375 165) 371 380 / 347 867
Fax : (375 165) 371 425
E-Mail : klm@tut.by
Est.: 1971
Managing Director: Vasiliy Andreevich Chekulaev
5. BelAZ-Servis OAO
Brestskaya Street 31
Zhodino 222160
Tax No.: UNP 600039346
Capital: B ROUBLE 3,738,763,600
Affiliated companies of the subject company :
Associates
1. Torgoviy Dom BelAZ ZAO
Admirala
Lazareva Street 68
Moscow
117041
Russia
Telephone: (7 495) 956 4140
Fax : (7 495) 956 4140
E-Mail : tdbelaz@inbox.ru
2. KazBelAZ SP TOO
Kazybek Bi District
Orlova Street 103
Karaganda 100004
Kazakhstan
Telephone: (7 7212) 952 509 / 952 506
Fax : (7 7212) 952 513
E-mail: kazbelaz@mail.ru
3. Avik BelAZ Kariernie Mashiny OOO
Shunyi District, Shunqiang Rd. 1, standard factory No. 3, 4th
(forth) floor
Beijing
China
Telephone: (86 10) 8480 9055 / 8480 8985
Fax : (86 10) 8497 3359
4. Belaz Trucks Americas (BTA)
6346 Orchard Lake Road, Suite 103, West Bloomfield,
Michigan, MI 48322
USA
Telephone: (1 248) 539 3482
Fax : (1 248) 539 3482
5. Western Technologies SP OOO
Pirogova Street 2
Minsk 220024
Belarus
6. Ural-BelAZ SP OOO
Ural
Russia
7. Belazia Pte. Ltd
65 Chulia street №48-02, 049513, OCBC Centre
Singapore
The Company is involved in the following activities :
Manufacturers of mining equipment, mining dump
trucks, construction & road-building equipment, vehicles for mine-servicing
works, underground vehicles, vehicles for metallurgical works and railway freight
cars.
NACE Code: 4663
Imports from Europe, USA, Russia, Germany, UK,
Hungary, India, Sweden.
Exports to Russia, Ukraine, Kazakhstan, Armenia,
Georgia, Uzbekistan, Azerbaijan, Kyrgyzstan, Moldova, Rumania, Tajikistan,
Egypt, Hungary, the Netherlands, Spain, Poland, Portugal, France, Latvia,
Lithuania, Finland, Estonia, Iran, China, India, Indonesia, Malaysia, Thailand,
Philippines, Chile, Bulgaria, Mongolia, Serbia, Peru and Venezuela.
The Company has the following facilities :
Administrative offices, a manufacturing plant and
storage facilities located at the heading address.
40 let Oktyabrya Street 4
Zhodino 222160
You enquired on: OJSC Belarusian Autoworks or OJSC Belaz. Please note that the
correct name is as per heading.
Interviewed: Tatyana Stepanovna Litvinkovich (Head of
Financial Department).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.42 |
|
|
1 |
Rs.81.93 |
|
Euro |
1 |
Rs.67.67 |
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 SCs 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.