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Report Date : |
17.04.2012 |
IDENTIFICATION DETAILS
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Name : |
SPRINGS CANADA INC |
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Registered Office : |
110 Matheson Blvd W Mississauga, Ontario L5r 3t4 |
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Country : |
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Year of Establishment : |
1992 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Curtain and Linen Mills / Linen, Drapery and Other Textile Furnishings Wholesaler-Distributors |
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No. of Employees : |
70 |
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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 350.000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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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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 |
GEOPOLITICS
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: USD |
IDENTIFICATION
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Legal Name: |
Springs Canada Inc |
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Legal Address |
110 Matheson Blvd W MISSISSAUGA, Ontario L5R 3T4 |
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Operative Address |
110 Matheson Blvd W MISSISSAUGA, Ontario L5R 3T4 |
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Telephone: |
(905) 890-4994 |
ID : |
NA |
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Fax: |
(905) 507-5070 |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
Canada |
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Website: |
Date Created: |
1992 |
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Manager: |
GEORGE B GAMBRELL, PRESIDENT |
Date Incorporated: |
1992 |
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Staff: |
70 |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Curtain and Linen Mills / Linen, Drapery and Other Textile Furnishings
Wholesaler-Distributors |
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BANKS
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Name of the Bank |
ROYAL BANK OF CANADA |
BUSINESS
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HISTORY |
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The company was founded in 1992 and is based in Mississauga, Canada. |
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PRINCIPAL ACTIVITY |
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Its principal activity includes product such as sheets, pillows,
pillowcases, bedspreads, comforters, mattress pads, baby bedding and infant apparel,
towels, shower curtains, bath and accent rugs, other bath fashion
accessories, over-the-counter home-sewing fabrics, drapery hardware, and hard
and soft decorative window fashions. The company manufactures Curtain and Linen Mills as well as drapery
and other textile furnishings. |
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Sales are: |
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Wholesale, Retail |
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Brands: |
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WAMSUTTA SPRINGMAID SPRINGS GLOBAL PURE BRAZIL COTTON COURT OF VERSAILLES DUNDEE SPRINGS HOME WABASSO |
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Clients: |
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general public and companies related with textiles manufactures. |
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Suppliers: |
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ABHITEX INTERNATIONAL PLOT # 3&4, SECTOR - 29, HUNDA,
PANIPAT-132 103 (INDIA) 91-1804000161 TELEX 91-1802632920 WUXI LUOSHE PRINTING DYEING CO.,L NO.90 ZHONGXING ROAD E. LUOSHE
TOWNWUXI,JIANGSU,CHINAT 0510-83317698 |
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Operations area: |
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National, International, Local |
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The company imports from India (Nhava Sheva), Shanghai, Africa,
Australia |
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The company export to Europe, Asia, Latin America |
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The subject employs 70 employees |
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PAYMENTS |
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regular |
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LOCATION |
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Headquarters |
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The company is headquartered in: 110 Matheson Blvd W, Mississauga, ON
L5R 4G7, Canada. |
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Branches: |
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The company has locations in USA, Brazil, Argentina, Turkey, Asia,
India. |
Shareholders - Manager - Related Companies
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Listed at the stock exchange: |
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NO |
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Shareholders Parent Company(ies): |
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This company is a subsidiary of SPRINGS GLOBAL US, INC. |
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Management: |
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Josué Christiano Gomes da Silva Chairman of the Board, CEO Tom O'Connor President Joe Granger President |
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Financials - COMMERCIAL TRENDS AND FORECAST
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As a private company the subject does not publish any financial
statements. |
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We have contacted the financial department who refused to provide us
any financial data without knowing the name of the inquiring party. |
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However our financial sources could provide us with the following
data. Those figures are estimates provided by confidential banking and
financial institutions working with the company. |
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Currency |
DATE |
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USD |
2010 |
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Turnover |
3,6000,000,000 |
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The cash flow is |
GOOD |
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Currency |
DATE |
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USD |
2008 |
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Turnover |
14.1 M |
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The cash flow is |
NORMAL |
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Comments on the financial data: The financial
information for 2010 is a consolidate revenue from Springs Global Inc. which
is the parent company. |
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Legal Fillings |
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The sources consulted record no
detrimental legal or labor court information. |
Rating
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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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-This is a medium size canadian company, with 70 employees and over 20
years of experience. -The company has the back up of the parent company Springs Global Inc. -The company is well known company in the market. -The structure of the company is big and it has branches around in
some countries around the world. -A credit line may be considered for USD 350.000 |
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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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APPENDIX
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Person Interviewed |
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Financial Department |
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Comments |
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Refused to provide any financial information without knowing the name
of the inquiring party. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.66 |
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1 |
Rs.81.80 |
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Euro |
1 |
Rs.67.18 |
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 |
-- |
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.