MIRA
INFORM REPORT
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Report Date : |
11.08.2012 |
IDENTIFICATION DETAILS
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Name : |
PRAYON |
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Registered Office : |
Rue Joseph Wauters 144, Engis, 4480 |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2011 |
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Year of Establishment : |
1928 |
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Com. Reg. No.: |
405747040 |
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Legal Form : |
Private Parent Company |
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Line of Business : |
Manufacturer of chemicals, including acids, phosphates, sulphur and fertilisers; development of inorganic chemical specialties, including phosphoric acid, sodium, potassium, calcium, ammonium and aluminium phosphates |
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No. of Employees : |
968 |
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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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) |
|
Belgium |
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 |
Company name & address
Prayon
Rue Joseph Wauters 144
Engis, 4480
Belgium
Tel: 04 273 92 11
Fax: 04 273 96 35
Web: www.prayon.com
Synthesis
Employees: 968
Company Type: Private Parent
Corporate Family: 4
Companies
Incorporation Date: 1928
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency: Euro
Annual Sales: 809.8
1
Total Assets: 601.3
Business Description
Manufacture of chemicals, including acids, phosphates, sulphur and fertilisers; development of inorganic chemical specialties, including phosphoric acid, sodium, potassium, calcium, ammonium and aluminium phosphates
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 |
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Yves Guillaume Caprara |
Managing Director, Decision-maker |
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Valérie Renard |
Sales and Marketing Manager |
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Samia Charadi |
Administrator |
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Arnaud Reymond |
Purchasing Manager |
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Jean-Luc Massin |
IT Manager |
News
|
Title |
Date |
|
Studies from Free University in the Area
of Experimental Botany Published |
8-Aug-2012 |
|
US Patent Issued to Prayon Technologies on
June 26 for "Filtration Cell and Filtration Device Using Such a
Cell" (Belgian Inventor) |
3-Jul-2012 |
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Umicore, Prayon form beLife cathode JV |
18-May-2012 |
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Deal snapshot: UMICORE TEAMS UP WITH
PRAYON TO PRODUCE LI-ION BATTERY MATERIALS |
16-May-2012 |
|
Umicore teams up with Prayon to produce
Li-ion battery materials |
15-May-2012 |
Registered No.(VAT): 405747040
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
Rue Joseph Wauters 144
Engis, 4480
Belgium
Tel: 04 273 92 11
Fax: 04 273 96 35
Web: www.prayon.com
Sales EUR(mil): 582.4
Assets EUR(mil): 463.2
Employees: 968
Fiscal Year End: 31-Dec-2011
Industry: Chemical
Manufacturing
Incorporation Date: 1928
Company Type: Private
Parent
Quoted Status: N ot Quoted
Registered No.(VAT): 405747040
Chairman of the
Board of Directors: Olivier
Marie Fernand William Vanderijst
Industry Codes
ANZSIC 2006 Codes:
1812 - Basic Organic Chemical Manufacturing
1813 - Basic Inorganic Chemical Manufacturing
1831 - Fertiliser Manufacturing
NACE 2002 Codes:
2415 - Manufacture of fertilisers and nitrogen compounds
2414 - Manufacture of other organic basic chemicals
2413 - Manufacture of other inorganic basic chemicals
NAICS 2002 Codes:
325312 - Phosphatic Fertilizer Manufacturing
325188 - All Other Basic Inorganic Chemical Manufacturing
325199 - All Other Basic Organic Chemical Manufacturing
US SIC 1987:
2869 - Industrial Organic Chemicals, Not Elsewhere Classified
2819 - Industrial Inorganic Chemicals, Not Elsewhere Classified
2874 - Phosphatic Fertilizers
UK SIC 2003:
2415 - Manufacture of fertilisers and nitrogen compounds
2413 - Manufacture of other inorganic basic chemicals
2414 - Manufacture of other organic basic chemicals
Business
Description
Manufacture of other inorganic basic chemicals
More Business
Descriptions
· Manufacture of chemicals, including acids, phosphates, sulphur and fertilisers; development of inorganic chemical specialties, including phosphoric acid, sodium, potassium, calcium, ammonium and aluminium phosphates
Fertilizer
Manufacturing
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Corporate
Family |
Corporate
Structure News: |
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Prayon |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
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Prayon |
Parent |
Engis |
Belgium |
Chemical Manufacturing |
809.8 |
968 |
|
|
Prayon Benelux |
Subsidiary |
Ruisbroek (Antw.) |
Belgium |
Personal and Household Products |
11.3 |
15 |
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Techno - High - Technology |
Subsidiary |
Isnes |
Belgium |
Food Processing |
2.3 |
4 |
|
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Belife |
Subsidiary |
Engis |
Belgium |
Beverages (Alcoholic) |
0.0 |
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Annual Profit & Loss
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|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
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Turnover |
809.8 |
660.9 |
527.7 |
|
Increase or Decrease in Stocks of Finished
Goods, and Orders in Progress |
28.5 |
4.2 |
-78.8 |
|
Immobilized Production |
5.6 |
4.5 |
7.5 |
|
Other Operating Income |
5.1 |
5.2 |
5.7 |
|
Operating Income |
849.0 |
674.8 |
462.1 |
|
Purchases |
544.8 |
411.3 |
275.8 |
|
Increase or Decrease
in Stocks |
7.6 |
-14.2 |
25.4 |
|
Raw Materials, Consumables, and Goods for
Release |
552.4 |
397.1 |
301.2 |
|
Services and Sundry Goods |
167.0 |
150.8 |
137.2 |
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Remuneration, Social Security Charges, and
Pensions |
104.8 |
96.9 |
94.5 |
|
Depreciation of and Other Amounts Written Off
of Formation Expense, Intangible and Tangible Fixed Assets |
27.2 |
25.6 |
18.3 |
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Increase or Decrease in Amounts Written Off
Stocks, Orders, and Trade Debtors |
-0.7 |
-1.8 |
-25.8 |
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Provisions for Liabilities and Charges |
-0.4 |
-2.7 |
-1.9 |
|
Other Operating Charges |
5.6 |
4.9 |
5.0 |
|
Operating Charges |
856.0 |
670.9 |
528.5 |
|
Income From Financial Fixed Assets |
10.0 |
3.8 |
12.5 |
|
Income From Current Assets |
0.7 |
0.4 |
0.6 |
|
Other Financial Income |
18.1 |
16.6 |
14.2 |
|
Financial Income |
28.8 |
20.8 |
27.3 |
|
Interest and Other Debt Charges |
10.2 |
8.1 |
6.5 |
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Other Financial Charges |
20.5 |
15.4 |
14.3 |
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Financial Charges |
30.8 |
23.5 |
20.8 |
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Adjustments to Depreciation of and to Other
Amounts Written Off Intangible and Tangible Fixed Assets |
0.1 |
0.0 |
0.1 |
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Adjustments to Amounts Written Off on
Financial Fixed Assets |
3.4 |
2.7 |
16.6 |
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Adjustments to Provisions for Extraordinary
Liabilities and Charges |
- |
0.4 |
- |
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Other Extraordinary Income |
1.2 |
1.1 |
- |
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Extraordinary Income |
4.7 |
4.3 |
16.8 |
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Depreciation of and Other Amounts Written Off
Formation Expenses, Intangible, and Tangible Fixed Assets |
0.0 |
0.4 |
0.5 |
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Amounts Written Off on Financial Fixed Assets |
- |
- |
0.5 |
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Loss on Disposal of Fixed Assets |
- |
- |
14.7 |
|
Other Extraordinary Charges |
0.0 |
0.6 |
0.1 |
|
Extraordinary Charges |
0.0 |
1.0 |
15.8 |
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Return on Capital |
- |
5.6 |
- |
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Profit to be Distributed |
- |
5.6 |
- |
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Employees |
968 |
956 |
940 |
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 |
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Consolidated |
No |
No |
No |
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Intangible Assets |
1.4 |
0.7 |
3.7 |
|
Land & Buildings |
22.8 |
26.2 |
29.8 |
|
Plant, Machinery, and
Equipment |
83.1 |
96.4 |
116.8 |
|
Furniture and Vehicles |
0.8 |
0.7 |
0.8 |
|
Leasing and Other
Similar Rights |
54.2 |
51.8 |
42.0 |
|
Other Tangible Assets |
0.3 |
0.5 |
0.7 |
|
Assets Under
Construction and Advance Payments |
4.0 |
4.1 |
9.9 |
|
Tangible Assets |
165.2 |
179.8 |
200.1 |
|
Participating Interests |
75.0 |
71.7 |
70.0 |
|
Affiliated Enterprises |
75.0 |
71.7 |
70.0 |
|
Participating
Interests |
5.9 |
6.1 |
5.4 |
|
Other Enterprises
Linked by Participating Interests |
5.9 |
6.1 |
5.4 |
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Shares |
0.0 |
0.0 |
0.0 |
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Amounts Receivable and
Cash Guarantees |
2.0 |
1.3 |
2.3 |
|
Other Capital Assets |
2.0 |
1.3 |
2.3 |
|
Capital Assets |
82.8 |
79.1 |
77.8 |
|
Fixed Assets |
249.4 |
259.5 |
281.6 |
|
Raw Materials and
Consumables |
33.1 |
38.8 |
29.8 |
|
Work in Progress |
19.9 |
12.6 |
13.7 |
|
Finished Goods |
84.1 |
70.2 |
71.0 |
|
Goods Purchased for
Resale |
2.5 |
5.8 |
3.0 |
|
Advance Payments |
- |
3.3 |
0.0 |
|
Stocks |
139.6 |
130.6 |
117.5 |
|
Orders in Progress |
10.5 |
7.0 |
4.3 |
|
Inventory and Orders in Progress |
150.0 |
137.6 |
121.8 |
|
Trade Debtors |
133.6 |
133.2 |
107.4 |
|
Other Amounts
Receivable |
49.6 |
35.3 |
45.2 |
|
Amounts Receivable Within One Year |
183.2 |
168.6 |
152.6 |
|
Other Investments and
Deposits |
10.3 |
2.0 |
4.0 |
|
Investments |
10.3 |
2.0 |
4.0 |
|
Liquid Assets |
6.0 |
6.5 |
2.7 |
|
Adjustment Accounts |
2.4 |
2.6 |
2.4 |
|
Current Assets |
351.9 |
317.2 |
283.6 |
|
Total Assets |
601.3 |
576.7 |
565.1 |
|
Issued Capital |
55.8 |
57.7 |
61.7 |
|
Capital |
55.8 |
57.7 |
61.7 |
|
Legal Reserve |
5.6 |
5.8 |
6.2 |
|
Other |
0.0 |
0.0 |
0.0 |
|
Reserves Not Available
for Distribution |
0.0 |
0.0 |
0.0 |
|
Reserves Available for
Distribution |
12.9 |
13.3 |
14.2 |
|
Reserves |
18.5 |
19.1 |
20.4 |
|
Pensions and Similar
Obligations |
9.2 |
8.3 |
9.9 |
|
Taxation |
1.8 |
1.9 |
2.0 |
|
Other Liabilities and Charges |
1.4 |
3.0 |
5.6 |
|
Provisions for
Liabilities and Charges |
12.4 |
13.2 |
17.5 |
|
Provisions and Deferred Taxes |
12.4 |
13.2 |
17.5 |
|
Capital and Reserves |
134.1 |
143.2 |
154.8 |
|
Subordinated Loans |
14.0 |
19.3 |
20.7 |
|
Leasing and Other
Similar Obligations |
28.7 |
32.3 |
21.7 |
|
Credit Institutions |
16.9 |
13.4 |
21.5 |
|
Financial Debts |
59.6 |
65.1 |
63.9 |
|
Amounts Due After More Than One Year |
59.6 |
65.1 |
63.9 |
|
Current Portion of
Amounts Payable After More Than One Year |
27.0 |
22.7 |
23.5 |
|
Credit Institutions |
149.5 |
119.0 |
126.1 |
|
Other Loans |
60.4 |
59.4 |
53.1 |
|
Financial Debts |
209.8 |
178.4 |
179.3 |
|
Suppliers |
111.9 |
103.6 |
85.6 |
|
Trade Debts |
111.9 |
103.6 |
85.6 |
|
Advances Received on
Orders in Progress |
11.0 |
8.6 |
6.5 |
|
Taxes |
3.3 |
4.2 |
3.1 |
|
Remuneration and
Social Security |
21.9 |
21.7 |
20.2 |
|
Taxes, Wages, and
Social Security |
25.2 |
25.9 |
23.3 |
|
Other Amounts Payable |
6.0 |
11.4 |
6.2 |
|
Amounts Payable Within One Year |
390.9 |
350.7 |
324.3 |
|
Adjustment Accounts |
4.3 |
4.6 |
4.7 |
|
Creditors |
454.7 |
420.4 |
392.8 |
|
Total Liabilities + Shareholders' Equity |
601.3 |
576.7 |
565.1 |
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.