MIRA
INFORM REPORT
|
Report Date : |
11.08.2012 |
IDENTIFICATION DETAILS
|
Correct Name : |
KRONOS EUROPE |
|
|
|
|
Registered Office : |
Langerbruggekaai 10, Gent, 9000 |
|
|
|
|
Country : |
Belgium |
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|
Financials (as on) : |
31.12.2011 |
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|
|
|
Year of Establishment : |
1992 |
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|
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Com. Reg. No.: |
449103862 |
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|
|
Legal Form : |
Private Subsidiary Company |
|
|
|
|
Line of Business : |
Chemicals Manufacturer |
|
|
|
|
No. of Employees : |
303 |
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Belgium |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name & address
Kronos Europe
Langerbruggekaai 10
Gent, 9000
Belgium
Tel: 09 254 03 11
Fax: 09 254 03 35
Web: www.kronostio2.com
Synthesis
Employees: 303
Company Type: Private Subsidiary
Corporate Family: 69
Companies
Ultimate Parent: Contran Corporation
Incorporation Date: 1992
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency: Euro
Annual Sales: 300.6
1
Total Assets: 179.2
Business Description
Chemicals Mfr
Industry
Industry Chemical Manufacturing
ANZSIC 2006: 1813 - Basic
Inorganic Chemical Manufacturing
NACE 2002: 2413 - Manufacture
of other inorganic basic chemicals
NAICS 2002: 325188 - All Other
Basic Inorganic Chemical Manufacturing
UK SIC 2003: 2413 - Manufacture
of other inorganic basic chemicals
US SIC 1987: 2819 - Industrial
Inorganic Chemicals, Not Elsewhere Classified
Key Executives
|
Name |
Title |
|
Raoul Van Schandevijl |
Directeur General |
|
Jo De Tremerie |
Sales and Marketing Manager |
|
Andrzej Kasprowiak |
Administrator, Legal Representative,
Shareholders' Representative |
|
Andrew Kastoviak |
Directeur IT |
|
Philippe Volckaert |
Directeur Securité |
Registered No.(VAT): 449103862
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327
Corporate Overview
Location
Langerbruggekaai 10
Gent, 9000
Belgium
Tel: 09 254 03 11
Fax: 09 254 03 35
Web: www.kronostio2.com
Sales EUR(mil): 216.2
Assets EUR(mil): 138.0
Employees: 303
Fiscal Year End: 31-Dec-2011
Industry: Chemical Manufacturing
Incorporation Date: 1992
Company Type: Private Subsidiary
Quoted Status: Not Quoted
Registered No.(VAT): 449103862
Directeur General: Raoul
Van Schandevijl
Industry Codes
ANZSIC 2006 Codes:
1813 - Basic Inorganic Chemical Manufacturing
NACE 2002 Codes:
2413 - Manufacture of other inorganic basic chemicals
NAICS 2002 Codes:
325188 - All Other Basic Inorganic Chemical Manufacturing
US SIC 1987:
2819 - Industrial Inorganic Chemicals, Not Elsewhere Classified
UK SIC 2003:
2413 - Manufacture of other inorganic basic chemicals
Business
Description
Manufacture of dyes and pigments
More Business
Descriptions
· Manufacture of titanium dioxide pigment
· Chemicals Mfr
· Paint and Coating Manufacturing
Brand/Trade Names
Kronos
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Corporate
Family |
Corporate
Structure News: |
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Contran
Corporation |
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Kronos Europe |
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Company
Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Dallas, TX |
United States |
Chemical Manufacturing |
2,000.0 |
50 |
|
|
Holding |
Dallas, TX |
United States |
Chemical Manufacturing |
2,141.0 |
3,448 |
|
|
Subsidiary |
Dallas, TX |
United States |
Chemical Manufacturing |
1,943.3 |
2,470 |
|
|
Subsidiary |
Dallas, TX |
United States |
Chemical Manufacturing |
1,407.6 |
1,985 |
|
|
Subsidiary |
Leverkusen, Nordrhein-Westfalen |
Germany |
Chemical Manufacturing |
994.6 |
1,000 |
|
|
Subsidiary |
Leverkusen |
Germany |
Chemical Manufacturing |
|
800 |
|
|
Subsidiary |
Gent |
Belgium |
Chemical Manufacturing |
300.6 |
303 |
|
|
Subsidiary |
De Bilt |
Netherlands |
Software and Programming |
|
7 |
|
|
Subsidiary |
Leverkusen, Nordrhein-Westfalen |
Germany |
Commercial Banks |
|
290 |
|
|
Subsidiary |
Fredrikstad |
Norway |
Chemical Manufacturing |
71.1 |
186 |
|
|
Subsidiary |
Montreal, QC |
Canada |
Chemical Manufacturing |
|
16 |
|
|
Subsidiary |
Paris |
France |
Miscellaneous Fabricated Products |
64.9 |
14 |
|
|
Subsidiary |
Wilmslow |
United Kingdom |
Personal Services |
42.9 |
5 |
|
|
Subsidiary |
Rotterdam |
Netherlands |
Non-Metallic Mining |
|
4 |
|
|
Subsidiary |
Holte |
Denmark |
Business Services |
250.0 |
|
|
|
Subsidiary |
Lake Mary, FL |
United States |
Jewelry and Silverware |
29.7 |
100 |
|
|
Branch |
Cranbury, NJ |
United States |
Chemical Manufacturing |
16.5 |
30 |
|
|
Subsidiary |
Westlake, LA |
United States |
Chemical Manufacturing |
10.9 |
15 |
|
|
Subsidiary |
Westlake, LA |
United States |
Chemical Manufacturing |
105.0 |
450 |
|
|
Holding |
Dallas, TX |
United States |
Chemical Manufacturing |
138.8 |
794 |
|
|
Subsidiary |
Dallas, TX |
United States |
Miscellaneous Fabricated Products |
138.8 |
794 |
|
|
Subsidiary |
Kitchener, ON |
Canada |
Electronic Instruments and Controls |
170.5 |
300 |
|
|
Branch |
Greenville, SC |
United States |
Appliance and Tool |
77.7 |
300 |
|
|
Subsidiary |
Mauldin, SC |
United States |
Auto and Truck Parts |
|
300 |
|
|
Subsidiary |
Grayslake, IL |
United States |
Auto and Truck Parts |
|
210 |
|
|
Branch |
Byron Center, MI |
United States |
Appliance and Tool |
15.0 |
100 |
|
|
Branch |
Neenah, WI |
United States |
Recreational Products |
15.5 |
60 |
|
|
Branch |
Grayslake, IL |
United States |
Appliance and Tool |
13.0 |
50 |
|
|
Branch |
Greenville, SC |
United States |
Appliance and Tool |
2.1 |
8 |
|
|
Branch |
Rancho Cucamonga, CA |
United States |
Miscellaneous Capital Goods |
3.8 |
4 |
|
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Branch |
Dallas, TX |
United States |
Investment Services |
3.7 |
17 |
|
|
Holding |
Exton, PA |
United States |
Miscellaneous Financial Services |
|
75 |
|
|
Subsidiary |
Dallas, TX |
United States |
Waste Management Services |
|
5 |
|
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Branch |
Andrews, TX |
United States |
Waste Management Services |
27.6 |
110 |
|
|
Branch |
Eunice, NM |
United States |
Waste Management Services |
41.8 |
80 |
|
|
Branch |
Loveland, OH |
United States |
Waste Management Services |
2.0 |
9 |
|
|
Branch |
Andrews, TX |
United States |
Biotechnology and Drugs |
|
2 |
|
|
Branch |
Salt Lake City, UT |
United States |
Waste Management Services |
0.2 |
1 |
|
|
Branch |
Gueydan, LA |
United States |
Chemical Manufacturing |
1.5 |
3 |
|
|
Subsidiary |
Dallas, TX |
United States |
Metal Mining |
1,045.2 |
2,750 |
|
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Branch |
Henderson, NV |
United States |
Metal Mining |
588.7 |
600 |
|
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Subsidiary |
Swansea |
United Kingdom |
Metal Mining |
238.9 |
597 |
|
|
UK Branch/Trading address |
Swansea |
United Kingdom |
Metal Mining |
238.9 |
320 |
|
|
Subsidiary |
Ugine |
France |
Miscellaneous Fabricated Products |
75.0 |
149 |
|
|
Subsidiary |
DĂ¼sseldorf, Nordrhein-Westfalen |
Germany |
Miscellaneous Fabricated Products |
|
7 |
|
|
Subsidiary |
Birmingham |
United Kingdom |
Business Services |
11.3 |
|
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|
Subsidiary |
Birmingham |
United Kingdom |
Commercial Banks |
|
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|
Subsidiary |
Birmingham |
United Kingdom |
Nonclassifiable Industries |
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Branch |
Toronto, OH |
United States |
Chemical Manufacturing |
364.5 |
500 |
|
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Branch |
Morgantown, PA |
United States |
Chemical Manufacturing |
145.8 |
200 |
|
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Branch |
Exton, PA |
United States |
Chemical Manufacturing |
87.5 |
120 |
|
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Subsidiary |
Dallas, TX |
United States |
Miscellaneous Fabricated Products |
|
60 |
|
|
Subsidiary |
Gerenzano, MI |
Italy |
Miscellaneous Fabricated Products |
23.7 |
51 |
|
|
Branch |
Vallejo, CA |
United States |
Iron and Steel |
27.4 |
50 |
|
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Branch |
Wentzville, MO |
United States |
Chemical Manufacturing |
10.9 |
15 |
|
|
Branch |
East Windsor, CT |
United States |
Chemical Manufacturing |
7.3 |
10 |
|
|
Branch |
Houston, TX |
United States |
Miscellaneous Fabricated Products |
1.7 |
7 |
|
|
Branch |
Irving, TX |
United States |
Chemical Manufacturing |
2.9 |
4 |
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Branch |
Las Vegas, NV |
United States |
Chemical Manufacturing |
2.9 |
4 |
|
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Branch |
Denver, CO |
United States |
Chemical Manufacturing |
2.9 |
4 |
|
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Subsidiary |
Dallas, TX |
United States |
Iron and Steel |
564.0 |
1,024 |
|
|
Division |
Peoria, IL |
United States |
Oil and Gas Operations |
413.4 |
800 |
|
|
Subsidiary |
Upper Sandusky, OH |
United States |
Oil and Gas Operations |
21.9 |
100 |
|
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Branch |
Sherman, TX |
United States |
Construction - Supplies and Fixtures |
29.9 |
85 |
|
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Branch |
Chicago, IL |
United States |
Miscellaneous Fabricated Products |
2.2 |
10 |
|
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Branch |
Rockford, IL |
United States |
Miscellaneous Fabricated Products |
2.2 |
10 |
|
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Branch |
Waynesville, OH |
United States |
Miscellaneous Capital Goods |
1.1 |
1 |
|
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Subsidiary |
Sherman, TX |
United States |
Miscellaneous Fabricated Products |
|
|
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Subsidiary |
Gueydan, LA |
United States |
Crops |
5.0 |
4 |
Executive report
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Executives |
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Directeur General |
Chief Executive Officer |
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General Manager |
Division Head Executive |
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Administrator, Legal Representative, Shareholders' Representative |
Administration Executive |
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Administrator |
Administration Executive |
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General Secretary |
Administration Executive |
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Administrator |
Administration Executive |
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Directeur Securité |
Security |
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Representative/Auditor |
Accounting Executive |
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Directeur Personnel |
Human Resources Executive |
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Receptionist |
Customer Service Executive |
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Sales and Marketing Manager |
Sales Executive |
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Directeur Communication |
Corporate Communications Executive |
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Directeur IT |
Information Executive |
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Technical Manager |
Engineering/Technical Executive |
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IT Manager |
Engineering/Technical Executive |
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Legal Representative |
Legal Executive |
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Decision-maker |
Other |
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Decision-maker |
Other |
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Decision-maker |
Other |
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Decision-maker |
Other |
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Decision-maker |
Other |
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Decision-maker |
Other |
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Decision-maker |
Other |
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Annual Profit & Loss
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.71919 |
0.755078 |
0.719047 |
|
Consolidated |
No |
No |
No |
|
|
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|
|
|
Turnover |
300.6 |
210.0 |
163.8 |
|
Increase or
Decrease in Stocks of Finished Goods, and Orders in Progress |
19.8 |
3.5 |
-12.7 |
|
Immobilized
Production |
0.4 |
0.8 |
0.3 |
|
Other Operating
Income |
1.1 |
0.8 |
1.0 |
|
Operating Income |
321.9 |
215.1 |
152.3 |
|
Purchases |
217.8 |
124.1 |
100.0 |
|
Increase
or Decrease in Stocks |
-35.3 |
8.6 |
2.0 |
|
Raw Materials,
Consumables, and Goods for Release |
182.5 |
132.7 |
101.9 |
|
Services and
Sundry Goods |
41.1 |
33.4 |
26.3 |
|
Remuneration,
Social Security Charges, and Pensions |
32.2 |
29.2 |
27.3 |
|
Depreciation of
and Other Amounts Written Off of Formation Expense, Intangible and Tangible
Fixed Assets |
7.3 |
5.5 |
5.9 |
|
Increase or
Decrease in Amounts Written Off Stocks, Orders, and Trade Debtors |
- |
0.0 |
0.0 |
|
Provisions for
Liabilities and Charges |
1.1 |
-1.1 |
-1.2 |
|
Other Operating
Charges |
1.1 |
1.0 |
1.1 |
|
Operating
Charges |
265.2 |
200.6 |
161.3 |
|
Income From
Current Assets |
0.1 |
0.0 |
0.2 |
|
Other Financial
Income |
1.2 |
1.2 |
0.6 |
|
Financial Income |
1.3 |
1.2 |
0.8 |
|
Interest and Other
Debt Charges |
0.5 |
0.4 |
0.8 |
|
Other Financial
Charges |
3.8 |
2.0 |
1.0 |
|
Financial
Charges |
4.3 |
2.4 |
1.8 |
|
Loss on Disposal
of Fixed Assets |
0.2 |
0.2 |
0.1 |
|
Extraordinary
Charges |
0.2 |
0.2 |
0.1 |
|
Transfer from
Differed Taxes |
0.0 |
0.1 |
0.0 |
|
Income Taxes |
17.4 |
0.3 |
0.2 |
|
Adjustment of
Income Taxes and Write-Back of Tax Provisions |
0.0 |
- |
- |
|
Income Taxes |
17.4 |
0.3 |
0.2 |
|
Transfer from
Untaxed Reserves |
0.1 |
0.1 |
0.1 |
|
Employees |
303 |
298 |
293 |
Annual Balance
Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Land
& Buildings |
6.3 |
3.9 |
4.6 |
|
Plant,
Machinery, and Equipment |
46.1 |
31.8 |
24.7 |
|
Furniture
and Vehicles |
0.6 |
0.3 |
0.4 |
|
Assets
Under Construction and Advance Payments |
0.0 |
0.0 |
0.0 |
|
Tangible
Assets |
53.0 |
36.1 |
29.7 |
|
Participating
Interests |
1.6 |
1.7 |
1.8 |
|
Affiliated
Enterprises |
1.6 |
1.7 |
1.8 |
|
Amounts
Receivable and Cash Guarantees |
0.5 |
0.4 |
0.6 |
|
Other
Capital Assets |
0.5 |
0.4 |
0.6 |
|
Capital
Assets |
2.2 |
2.1 |
2.4 |
|
Fixed Assets |
55.2 |
38.2 |
32.1 |
|
Raw
Materials and Consumables |
60.6 |
29.9 |
39.0 |
|
Work
in Progress |
2.3 |
0.8 |
0.7 |
|
Finished
Goods |
28.2 |
11.6 |
8.8 |
|
Goods
Purchased for Resale |
1.4 |
0.2 |
2.5 |
|
Stocks |
92.6 |
42.5 |
50.9 |
|
Inventory
and Orders in Progress |
92.6 |
42.5 |
50.9 |
|
Trade
Debtors |
26.7 |
11.4 |
9.5 |
|
Other
Amounts Receivable |
2.9 |
2.7 |
1.3 |
|
Amounts
Receivable Within One Year |
29.6 |
14.1 |
10.8 |
|
Liquid
Assets |
1.2 |
1.7 |
1.0 |
|
Adjustment
Accounts |
0.5 |
0.6 |
0.6 |
|
Current Assets |
123.9 |
58.8 |
63.2 |
|
Total Assets |
179.2 |
97.0 |
95.3 |
|
Issued
Capital |
7.0 |
7.2 |
7.7 |
|
Capital |
7.0 |
7.2 |
7.7 |
|
Legal
Reserve |
0.7 |
0.7 |
0.8 |
|
Untaxed
Reserves |
0.1 |
0.2 |
0.3 |
|
Reserves |
0.8 |
0.9 |
1.1 |
|
Pensions
and Similar Obligations |
3.3 |
2.6 |
4.3 |
|
Major
Repairs and Maintenance |
2.3 |
2.2 |
1.9 |
|
Other
Liabilities and Charges |
0.7 |
0.6 |
0.9 |
|
Provisions
for Liabilities and Charges |
6.4 |
5.5 |
7.1 |
|
Deferred
Taxation |
0.0 |
0.1 |
0.2 |
|
Provisions
and Deferred Taxes |
6.4 |
5.6 |
7.2 |
|
Capital and
Reserves |
92.2 |
60.5 |
50.8 |
|
Credit
Institutions |
0.0 |
0.0 |
0.0 |
|
Financial
Debts |
0.0 |
0.0 |
0.0 |
|
Suppliers |
60.0 |
23.1 |
26.8 |
|
Trade
Debts |
60.0 |
23.1 |
26.8 |
|
Taxes |
1.3 |
1.5 |
1.4 |
|
Remuneration
and Social Security |
3.9 |
3.6 |
3.2 |
|
Taxes,
Wages, and Social Security |
5.2 |
5.1 |
4.6 |
|
Other
Amounts Payable |
15.4 |
2.7 |
5.9 |
|
Amounts
Payable Within One Year |
80.5 |
30.9 |
37.3 |
|
Creditors |
80.5 |
30.9 |
37.3 |
|
Total
Liabilities + Shareholders' Equity |
179.2 |
97.0 |
95.3 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
|
UK Pound |
1 |
Rs.86.45 |
|
Euro |
1 |
Rs.68.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.