MIRA INFORM REPORT
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Report Date : |
16.04.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
ITW AUSTRALIA PTY LTD |
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Formerly Known As : |
W.A. DEUTSHER PROPRIETARY LIMITED |
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Registered Office : |
Unit 15, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
10.01.1940 |
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Com. Reg. No.: |
004235063 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Import, manufacturing & distribution of industrial products and equipments |
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No. of Employees : |
65,000 employees (ITW Group) |
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 2,000,000 |
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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Australia |
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 |
Verified Address
Subject name : ITW AUSTRALIA PTY LTD
Other style / Business name :
APPLIED AUSTRALIA / ITW CONSTRUCTION
PRODUCTS / CYCLONE
INDUSTRIES / ITW DELTAR
Business address : Unit 15, 74 Doncaster Road
Town : Balwyn
North
Province : Victoria
Zip/postal code : 3104
Country : Australia
Tel : +61 3 88622400
Website : www.itw.com
Registered address : Unit 15, 74 Doncaster Road
Town : Balwyn
North
Province : Victoria
Zip/postal code : 3104
Country : Australia
Executive Summary
Date founded or registered : 10/01/1940
Legal form : Australian
Proprietary Company
Chief executive : Michael John Davies
Issued & paid up capital
: AUD 326,289,000
Sales turnover : USD
17,786,583,000 (Group-consolidated 12 months, 31/12/2011)
Net income : USD
2,071,384,000 (Group-consolidated 12 months, 31/12/2011)
Total fixed assets : USD 17,983,514,000
(Group-consolidated 12 months, 31/12/2011)
Line of business : Import, manufacturing
& distribution of industrial products and equipments.
Staff employed : 65,000 employees (ITW Group)
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
steady
Management experience : Management is adequately experienced
Financial performance : Financial performance is good
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : USD 2,000,000
Credit amount asked : USD 200,000
Comments : Larger credit can still be considered. The Subject is well positioned in the market
and the financial stability of the group is positive.
Registry Data
Registration date : 10/01/1940
Legal form : Australian Proprietary Company
Registration no Australian Company Number:
004235063
Registered authority : Australian Securities and Investments
Commission
Fiscal/ Tax no : Australian Business Number:
63004235063
Registry status : Live/Active
Previous name : W.A.
DEUTSHER PROPRIETARY LIMITED (initial)
Change of legal form : None reported.
Key Management
Name : Michael John Davies
Designation : Managing Director
Name : Thomas Carter Reynolds
Designation : Chief Financial Officer
Appointments
Name : Michael John Davies
Designation : Director
Appointment date : 31/05/99
Address : 4 Holmhurst Court
Brighton
East, VIC 3187
Australia
Biography : Born on 17-12-1947 in Shoreham,
United Kingdom.
Name : Thomas Carter Reynolds
Designation : Director and Company Secretary
Appointment date : 23/07/07
Address : Unit 2, 13 St Clems Road
Doncaster
East, VIC 3109
Australia
Biography : Born on 12-05-1964 in
Lancefield VIC, Australia.
Name : Leanne Ono
Designation : Director
Appointment date : 03/05/11
Address : 2141 Manor Lane
Park
Ridge, IL 60068
United
States
Biography : Born on 31-10-1962 in
Chicago, United States.
Name : Maryann Spiegel
Designation : Director
Appointment date : 15/02/12
Address : 595 Rex Boulevard
Elmhurst,
IL 60126
United
States
Biography : Born on 24-05-1964 in Chicago, United States.
Staff employed : 65,000 employees (ITW Group)
Composition
Authorized Capital : AUD 326,289,000
No of shares : 1,600 A Redeemable Preference
Shares / 305,840,000 Ordinary Shares
Share par value : No par value
Issued capital : AUD 326,289,000
Paid up capital : AUD 326,289,000
How listed : Full List
Composition
Shareholder name : ITW OPERATIONS AUSTRALIA PTY LTD
Address : Unit 15, 74 Doncaster Road
Balwyn
North, VIC 3104
Australia
No. of shares : 1,600 A Redeemable Preference
Shares / 305,840,000 Ordinary Shares
% of shares : 100%
Structure
Name : ILLINOIS TOOL WORKS
INC.
Affiliation type : Ultimate Holding Company
Address : 3600 West Lake Ave
Glenview,
IL 60026
United
States
Comments : Illinois Tool Works Inc. manufactures various industrial products and equipment
worldwide.
Its Transportation segment offers
plastic and metal components, fasteners, and assemblies; fluids and polymers;
fillers and putties; polyester coatings, and patch and repair products; and
truck remanufacturing, and related parts and service. The company’s Power
Systems & Electronics segment provides arc welding equipment; metal arc
welding consumables and related accessories; metal solder materials; equipment
and services for microelectronics assembly; electronic components and component
packaging; airport ground support equipment; static and contamination control
equipment; and pressure sensitive adhesives and components.
Its Industrial Packaging segment offers steel and
plastic strapping and related tools and equipment; plastic stretch film and
related equipment; paper and plastic products that protect goods in transit;
and metal jacketing and insulation products. The company’s Food Equipment
segment provides warewashing, cooking, refrigeration, and food processing
equipment; and kitchen exhaust, ventilation, and pollution control systems; and
food equipment service, maintenance, and repair.
Its Construction Products segment offers anchors,
fasteners, and related tools; metal plate truss components, and related
equipment and software; and packaged hardware and other products for retail.
The company’s Polymers & Fluids segment provides adhesives; chemical
fluids; epoxy and resin-based coating products; and hand wipes and cleaners.
Its Decorative Surfaces segment offers laminate for furniture, office and
retail
space, and countertops; and laminate worktops.
The company also offers equipment and related software for testing and
measuring of materials and structures; plastic reclosable packaging and
consumables; foil and film products; product coding and marking equipment; and
conveyor systems. Illinois Tool Works Inc. was founded in 1912 and is based in
Glenview, Illinois.
Name : ITW
OPERATIONS AUSTRALIA PTY LTD
Affiliation type : Parent Company
Address : Unit 15, 74 Doncaster Road
Balwyn North, VIC 3104
Australia
Name : ITW
AFC PTY LIMITED
Affiliation type : Sister Company
Address : 600 South Head Rd
Moorabbin,
VIC 3189, Australia
Name : ITW
(DEUTSCHLAND) GMBH
Affiliation type : Sister Company
Address : Niederlassung Düsseldorf
Niederkasseler Lohweg
191
40547 Düsseldorf
Germany
Name : AVERY
MALAYSIA SDN BHD
Affiliation type : Sister Company
Address : No 8A Jalan 213
46050 Petaling Jaya
Selangor Darul Ehsan
Malaysia
Name : DIAGRAPH
CORPORATION SDN. BHD.
Affiliation type : Sister Company
Address : 12 Jalan PJS 11/22
Bandar Sunway
46150 Petaling Jaya
Selangor Darul Ehsan
Malaysia
Name : ITW
AUTOMOTIVE ITALIA SRL
Affiliation type : Sister Company
Address : 22, Via Beauviermoz
11020 Hone (AO)
Italy
Name : ITW
PACKAGING (MALAYSIA) SDN BHD
Affiliation type : Sister Company
Address : No 10, Jalan Tiara 1
Tiara Square, Taman
Perindustrian UEP
Subang Jaya 47600
Selangor Darul Ehsan
Malaysia
Name : ITW
INSULATION SYSTEMS MALAYSIA SDN. BHD.
Affiliation type : Sister Company
Address : Lot PT33, Jalan 2
Kawasan Perindustrian
Salak Tinggi
43900 Sepang
Selangor Darul Ehsan
Malaysia
Name : KESTER
COMPONENTS (M) SDN. BHD.
Affiliation type : Sister Company
Address : PLO 113, Fasa 3, Kawasan Perindustrian
Senai 81400 Senai
Johor Darul Takzim
Malaysia
Related
companies and corporate affiliations comments
Other companies of the ITW Group should
be considered affiliates of the Subject.
Bank Details
Name of bank : National Australia Bank Limited
Address : Australia
Account details : Current Account
Comments : It is generally not the policy
of local banks to provide credit status information to non
related
parties, however interested parties would be advised to consult first with the
Subject if banker's references are required.
Mortgages : None reported.
Legal Fillings
Bankruptcy fillings : None reported.
Court judgements : None reported.
Tax liens : None reported.
Others : None reported
Description
Source of financial statement
: Commercial Registry Filings
Financial statement date : 31/12/11
Type of accounts : Full audited
Currency : US Dollar (USD)
Consolidation type : Group Consolidated Group Consolidated
Currency : US Dollar (USD) US Dollar (USD)
Denomination : (x1) One (x1) One
Date of financial year end : 31/12/11 31/12/10
Length of accounts : 12 months 12 months
Operating profit : 2,731,008,000 2,254,017,000
Profit before tax : 2,592,714,000 2,088,838,000
Net income : 2,071,384,000 1,502,952,000
Non current assets : 11,134,168,000 10,441,823,000
Current assets : 6,849,346,000 5,970,488,000
Inventories : 1,715,859,000 1,634,856,000
Total assets : 17,983,514,000 16,412,311,000
Current liabilities : 2,976,727,000 3,022,852,000
Non current liabilities : 4,972,723,000 3,817,460,000
Total liabilities : 7,949,450,000 6,840,312,000
Share equity : 10,034,064,000 9,571,999,000
Comments : The group’s consolidated financial information above
relates to the Subject’s Ultimate
Holding
Company Illinois Tool Works Inc. and all its subsidiaries.
Main activities : The Subject is engaged in import,
manufacturing & distribution of industrial
products and
equipments mainly as industrial packaging products construction tools and
materials, nails, screw, fasteners and gardening tools and related products.
The Subject is a wholly owned subsidiary
of Illinois Tool Works Inc.
Illinois
Tool Works Inc (ITW) is a Fortune 200 company, headquartered in Chicago,
Illinois, USA.
ITW
is a multinational manufacturer of a diversified range of industrial products
and equipment. The company consists of 895 business units in 54 countries and
employs some 65,000 people.
ITW
businesses in Australia include:
Applied Australia
Applied
Australia markets specialty cleaning chemicals that improve the performance,
hygiene and appearance for customers. Our people add value to the products with
innovative dispensing solutions and technical applications expertise. Key
markets served are mining maintenance, rail, aviation, printing, food, health
care, hospitality and the vehicle cleaning and after-care market.
Construction Products
Australasia
ITW
Construction Products is the head office for the Construction Products group of
companies in Australia and New Zealand.
Cyclone Industries
Cyclone
is a manufacturer and importer of garden tools and insect screening. Cyclone
has a dominant market position with a strong presence in retail, trade and
commercial channels. Cyclone has two manufacturing plants in Australia, and has
a reputation for high quality garden products.
Deltar Australia
ITW
Deltar designs and manufactures a diverse range of fasteners and engineered
assemblies for the automotive industry in Australia. We also supplement our local
range with imported product from other ITW divisions
supplying
our global customer base.
Fastex Australia
ITW
Fastex Australia is a supplier of products to Security, Horticultural,
Agricultural, Defense, Leisure and General Industrial industries in Australia
FH
Prager FH Prager is a tool solution provider to the retail and industrial
channels within Australia distributing a wide range of hand tools.
Hobart Australia
Hobart
offers a broad range of catering equipment including cooking, food preparation,
ware washing, and waste systems.
Industrial
Packaging Australia
ITW Industrial Packaging manufactures and
suplies packaging equipment and consumables for the metals, timber, corrugated,
textiles, brick and paper industries. ITW Industrial Packaging operates a
national engineering and service support network from its Asia-Pacific
headquarters in Melbourne.
Instron Australia
Instron
is a leading provider of test equipment for the material and structural testing
markets. A global company providing single-source convenience, Instron
manufactures and services products used to test the mechanical properties and
performances of various materials, components and structures in a wide array of
environments.
IWD Strapping Sales
IWD
Strapping Sales Australia provides total packaging solutions to a variety of
end users. Its specialties lie in the securing of finished goods using steel
strapping, polyester strapping, wool bands and polypropylene strapping. It also
provides the Strapex brand of equipment to secure the strapping, ranging from
manual hand tools to custom built fully automatic stations.
Kiwiplan Asia Pacific
Melbourne,
Australia – Software sales and support serving Australia and Asia Pacific.
Kiwiplan provides state of the art software solutions to corrugated, folding
carton, plastics and flexible packaging facilities around the globe. Kiwiplan
products include order management, supply chain management, automated
scheduling, shop floor data collection, inventory management and more. Kiwiplan
products empower packaging manufacturers to increase throughput, reduce
operating expenses, increase automation and improve visibility and
communication throughout the organization.
Modfix
Modfix,
a division of ITW Construction Products Australia, is a plastic injection
molding unit manufacturing plastic accessories for the building industry.
On-site facilities include product design, tooling design and fabrication,
product molding.
Paslode Australia
As
the leading supplier of nail and stapling systems for the construction
industry, Paslode Australia provides an unparalled range of tools under the
Paslode, Duo-Fast and Haubold brands; including the Impulse cordless tools. It
is the largest local manufacturer of nails and staples, supplying fasteners for
a wide range of applications. Six offices located throughout Australia provide
sales and service support.
Polymers
& Fluids
ITW Polymers manufactures premium
quality, well branded, consumable MRO products to the Australian & New
Zealand industrial, construction, mining and trade paint markets. We also
provide a coating service for automotive and industrial parts.
Proline
ITW Proline is Australia's
leading supplier of fasteners and hardware to retail customers. Our products
and services are distributed exclusively through retail hardware outlets and
mass merchants. We specialize in
developing and implementing
solutions for hardware retailers to grow their business.
Pryda Group
Pryda develops and markets a system comprising software,
equipment, customer support and consumable products for the design and
manufacture of roof trusses, wall panels and floor trusses in both timber and
steel. Operations are in Australia, New Zealand, and South East Asia.
Ramset Australia
ITW Ramset specializes in
concrete anchoring and fixing for commercial and industrial construction.
Ramset is also known for its powder actuated fixing systems and continues to be
a proud Australian manufacturer.
Reid Construction Systems
We supply products and engineering services to the precast concrete manufacturing industry for the production, transport, erection and permanent attachment of precast concrete elements.
Smart Home Products
Smart Home Products is
Australia's largest supplier of 'Do-It-Yourself' pre-packaged interior and
exterior window furnishings and shade solutions.
Techflow
ITW Techflow first originated as Techflow Pty Ltd which was formed in Western Australia in April 1984 as a 1/4 turn specialist valve and control company with engineering skills necessary to service the oil & gas sector both on-shore & off-shore and the associated downstream processing plus the mining industry throughout Australia, New Zealand and Papua New Guinea
Welding Industries of Australia
WIA is a leading Australian
manufacturer and distributor of high quality welding equipment and consumables
for industrial, farm and home applications, under the brand names Weldmatic,
Austarc, Austmig and Austfil. WIA also represents ITW welding brands, Miller,
Hobart, Bernard, McKay and Weldwell in the Australian market.
Wynn's Australia
Wynn's Australia automotive
products are directed at increasing the life and serviceability of vehicles while
reducing their operating costs. These products and services include chemical
products and equipment for engine, fuel, transmission, power steering and
cooling systems. Likewise, the industrial line of products focuses on lowering
the cost of operating commercial equipment employed by a large variety of
manufacturing operations.
Zip-Pak Australia
Sales and distribution of
Zip-Pak products into Australia and New Zealand
Purchases
International : Worldwide
Sales
Local : Yes
International : Worldwide
Property &
Assets
Premises : The Subject operates from head office
located at the verified heading address consisting of
administrative office.
Branches : In addition, the Subject operates from
its divisional facilities located throughout Australia.
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 43.879 billion
Gross domestic product – GDP : US$ 1.448 trillion
GPP (Purchasing power parity) : 918.529 billion of International dollars
GDP per capita - current prices : US$ 64,351
GDP - composition by sector : agriculture: 4.1% industry: 26% services: 70%
Inflation : 2008: 4.4%
2009: 1.8%
2010: 2.8%
2011: 3.0%
Unemployment rate 2008: 4.2 %
2009: 5.6 %
2010:5.2 %
2011: 5.0%
Public debt
(General Government gross
debt as a % GDP) 2008: 11.6%
2009: 17.6%
2010: 22.3 %
2011: 24.1%
Government bond
ratings Standard
& Poor's: AAA-/Stable/A-1+
Moody's rating: Aaa
Moody's outlook: STA
Market value of publicly traded shares US$ 1.258 trillion
Largest companies in the country :
Westpac Banking Group (Major Banks),
BHP Billiton (Diversified Metals & Mining), Commonwealth Bank (Major Banks),
National Australia Bank (Major Banks), ANZ Banking (Major Banks), Telstra
(Telecommunications services), Wesfarmers (Food Retail)
Trade & Competitiveness Overview
Total exports US$210.7
billion
Exports commodities coal,
iron ore, gold, meat, wool, alumina, wheat
Total imports US$187.2
billion
Imports commodities machinery and
transport equipment, computers and office machines, telecommunication equipment
and parts, crude oil and petroleum products
Export - major partners Japan 18.9%, China 14.2%, South Korea 8%, US 6%, NZ 5.6%, India
5.5%, UK 4.2%
Import - major partners China 15.5%, US 12.8%, Japan 9.6%, Singapore 5.6%, Germany
5.2%, UK 4.3%, Thailand 4.2%
FDI Inflows 2008: US$46,722 million
2009: US$22,572 million
2010: US$32,472 million
FDI Outflows 2008: US$32,819 million
2009: US$18,426 million
2010: US$26,431 million
Best countries for doing business : 10
out of 183 countries
Global competitiveness ranking : 20 (ranking
by country on a basis of 142, the first is the best)
Country and Population Overview
Total population :
22.23 million
Total area :
7,692,024 km2
Capital : Canberra
Currency : Australian Dollars (AUD)
Internet
users as % of total population
: 76.00%
Purchase Term
International : L/C, Telegraphic transfer,
Document against payment, Credit 30-90 days
Sales Term
Local : Prepayment, Bank
transfer, Document against payment, Credit 30-90 days
International : L/C, Telegraphic transfer,
Document against payment, Credit 30-90 days
Trade Reference/
Payment Behaviour
Comments : As
local and international trade references were not supplied, the Subject's payment
track
record history cannot be appropriately determined but based on our research,
payments are believed to be met without delay.
Investigation Note
Sources : Interviews and material
provided by the Subject
Other official and local business sources
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.42 |
|
UK Pound |
1 |
Rs.81.93 |
|
Euro |
1 |
Rs.67.67 |
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 |
|
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 |
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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 |
|
<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.