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Report Date : |
17.08.2012 |
IDENTIFICATION DETAILS
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Name : |
THE FURNACE BELT COMPANY LIMITED |
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Registered Office : |
7-1874 Drew Rd., MISSISSAUGA, Ontario L5S 1J6 |
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Country : |
Canada |
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Year of Establishment : |
1972 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacture of Woven Metal Conveyor Belting |
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No. of Employees : |
30 |
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 31, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Canada |
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 - CANADA
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: 1.00 CAD = 1.01091 USD |
IDENTIFICATION
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Ordered as: |
The Furnace Belt Co |
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Address in the order: |
1874 Drew Road Unit 7 Missussauga Ontaria L5S IJ6 |
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Legal Name: |
THE FURNACE BELT COMPANY LIMITED |
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Legal Address |
7-1874 Drew Rd., MISSISSAUGA, Ontario L5S 1J6, Canada |
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Operative Address |
1874 Drew Road, Mississauga, Ontario L5S 1J6, Canada (Headquarters) |
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Telephone: |
+1 (905) 677-5068 |
ID : |
NA |
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Fax: |
+1 (905) 677-4550 |
Legal Form: |
Limited Company |
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Email: |
Registered in: |
Canada |
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Website: |
Date Created: |
1972 |
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Manager: |
Joseph L. Tatone, President |
Date Incorporated: |
NA |
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Staff: |
30 |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Metal conveyor belts manufacturer. |
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BANKS
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Name of the Bank |
HSBC BANK |
BUSINESS
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HISTORY |
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The company was created in 1972. |
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PRINCIPAL ACTIVITY |
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Manufacture of woven metal conveyor belting. |
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Products/Services description: |
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The company's products are custom designed for a full range of low to
high temperature processes including product heat treatment and powder metal
sintering. Its flat wire belting is in high demand for a wide variety of food
processing, freezer tunnels, agriculture, marine and general conveying
applications. |
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Sales are: |
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Wholesale |
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Clients: |
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It serves various industries. |
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Operations area: |
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National, International |
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The company exports to Depending on demand. |
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Trade
References: |
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We couldn’t contact a person at the company’s to provide us the trade
references. |
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The subject employs 30 employee(s) |
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Comments on staff: |
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This information could not be confirmed by the staff. |
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PAYMENTS |
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Regular |
LOCATION
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Headquarters |
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The company is headquartered at 1874 Drew Road, Mississauga, Ontario
L5S 1J6, Canada |
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 is a private company. The shareholders are Joseph L. Tatone and
Tony Di Censo. |
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Management: |
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Joseph L. Tatone, President Tony Di Censo, Vice President Julien Tatone, Sales Dante Di Censo, Production Manager Mario Di Censo, Treasurer |
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Related Companies: |
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Furnace Belt Co. 2316 Delaware Ave., Suite 417 Buffalo, NY 14216 Phone: 1-800-354-7213 Fax: 800.354.7215 |
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 a male Operator who refused to provide us any financial
data on grounds of confidentiality. |
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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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Comments on the
financial data: The company would have an estimated annual revenue of $4,480,000. |
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Legal Fillings
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The sources consulted record no
detrimental legal or labor court information. |
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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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The subject is a small sized Canadian company. It started to operate in 1972. Therefore, it has a very good
experience in its field. THE FURNACE BELT COMPANY LIMITED is considered to be a world leader in
the superior manufacture of woven metal conveyor belting, including friction
or positive (chain) drive applications. The company maintains a quality system in accordance with ISO 9001:
2000. It is well known in the market. There were no legal filings found against the company or its legal
representatives. |
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SUMMARY
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Profitability |
N.A. |
Public |
NO |
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Indebtedness |
N.A. |
Payments |
REGULAR |
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Cash |
N.A. |
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APPENDIX
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Comments |
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We have contacted a male Operator who refused to provide any kind of
information on grounds of confidentiality. He told us Sheila Heisterberg, Accountant,
is on vacations and he transferred us over to Lisa's voicemail. We left this
person a message but no one has replied it yet. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.55.99 |
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|
1 |
Rs.87.55 |
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Euro |
1 |
Rs.68.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
SHG |
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.