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Report Date : |
05.12.2012 |
IDENTIFICATION DETAILS
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Name : |
TECHNO BAR LTD. |
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Registered Office : |
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Country : |
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Year of Establishment : |
08.08.1973 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers, traders and marketers of stainless steel products, industrial piping
and metals to the industry, including: plates, sheets, bars, pipes and tubes,
and accessories (fittings, flanges, valves and control valves, steam systems,
etc.) |
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No. of Employees : |
100 employees as of the end of 2009 (same as in 2008) Current number of employees not forthcoming |
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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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Israel |
A2 |
A2 |
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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 |
israel - ECONOMIC OVERVIEW
Israel has a technologically advanced
market economy. It depends on imports of crude oil, grains, raw materials, and
military equipment. Cut diamonds, high-technology equipment, and agricultural
products (fruits and vegetables) are the leading exports. Israel usually posts
sizable trade deficits, which are covered by tourism and other service exports,
as well as significant foreign investment inflows. The global financial crisis
of 2008-09 spurred a brief recession in Israel, but the country entered the
crisis with solid fundamentals - following years of prudent fiscal policy and a
resilient banking sector. The economy has recovered better than most advanced,
comparably sized economies. In 2010, Israel formally acceded to the OECD.
Natural gasfields discovered off Israel's coast during the past two years have
brightened Israel's energy security outlook. The Leviathan field was one of the
world's largest offshore natural gas finds this past decade. In mid-2011,
public protests arose around income inequality and rising housing and commodity
prices. The government formed committees to address some of the grievances but
has maintained that it will not engage in deficit spending to satisfy populist
demands.
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Source : CIA |
TECHNO BAR LTD.
(Also known as TECHNOBAR)
Telephone 972
3 963 23 33
Fax 972 3 961 92 43 /6
P.O. Box 5141, Rishon Le-Zion (7515002)
10 Lazarov Street
Industrial Zone
RISHON LE-ZION-7565416
A private limited company, incorporated as per file No. 51-065779-4 on the
08.08.1973.
In 1997 took over the business activities of its sister company SHLOMO
BARTAL & SONS LTD. (which turned into a real estate company), Bartal family
private company incorporated in 1971, which succeeded the operation of a sole
proprietorship called "TECHNICA & AGRICULTURE", established in
1946 by Shlomo Bartal.
Authorized share capital NIS 280.00, divided into -
2,799,000
ordinary shares (2,379,050 shares issued),
1,000 founder shares (issued), all of
NIS 0.0001 each,
of which shares amounting to NIS 238.005 were issued.
1.
Shlomo Bartal, 50%,
2.
Aharon Bartal, 50% of
founder shares and 25% of ordinary shares,
3.
Israel Bartal, 25% of
ordinary shares.
1.
Aharon Bartal, General
Manager, son of Shlomo Bartal,
2.
Shlomo Bartal.
Importers, traders and marketers of stainless steel products, industrial
piping and metals to the industry, including: plates, sheets, bars, pipes and
tubes, and accessories (fittings, flanges, valves and control valves, steam
systems, etc.).
All sales are to the local market.
Among customers: Ministry of Defense, AGAN CHEMICAL MANUFACTURERS, TNUVA,
STRAUSS GROUP/ ELITE, OSEM, DEAD SEA WORKS, THE ISRAEL ELECTRIC CORP.,
MAKTESHIM CHEMICALS WORKS, OIL REFNERIES, TEVA PHRAMACEUTICAL INDUSTRIES,
K.B.A. TOWNBUILDERS GROUP, INTEL ISRAEL, ISRAEL AEROSPACE INDUSTRIES, etc.
95% of purchases are imports.
Among local products suppliers: FRC - AGENCIES (agencies)
Among local suppliers which subject is a local distributor for: HABONIM
INDUSTRIAL VALVES, HAM-LET, MIDDLE EAST TUBE CO.
Among service suppliers: SAP ISRAEL.
Sole local representatives
of:
JHONSON (KADANT), of USA (Fluid Handling)
AXAIR, WALTERMEIER, both of Switzerland.
Among foreign suppliers: MARCEGALI (Italy), etc.
Operating from the
following premises:
1.
Offices and warehouses,
owned by the shareholders, on an area of 7,000 sq. meters, in 10 Lazarov Street,
Industrial Zone, Rishon Le-Zion.
2.
Owned warehouses, on an
area of 1,400 sq. meters, in Hebron Road, Sara Valley Industrial Zone, Beer
Sheva.
3.
A rented store, on an area
of 1,100 sq. meters in 41 Shlomo Bar Yoseph Street, Industrial Zone, Kiryat
Ata.
Had 100 employees as of the end of 2009 (same as in 2008). Current number
of employees not forthcoming.
Stock was valued at NIS 50,000,000 at the beginning of 2009.
Other and later financial data not forthcoming.
There are 6 charges
for unlimited amounts registered on company’s assets (financial assets and
fixed assets), in favor of The First International Bank of Israel Ltd., Bank
Leumi Le'Israel Ltd. and Bank Hapoalim Ltd. (last charge placed January 2012 on financial assets, prior to that charge
was placed in 2008, also on financial assets).
2006 sales claimed to be circa NIS 140,000,000.
2007 sales claimed to be circa NIS 150,000,000.
2008 sales claimed to be circa NIS 140,000,000.
Later sale figures not forthcoming.
BARTAL SHLOMO & SONS LTD., owned by the
Bartal family, a real estate company.
TAHALICH-PROPERTIES & INVESTMENTS (1985)
LTD., a real estate company.
Bank Leumi Le’Israel Ltd., Rishon Le-Zion Business Branch (No. 671), Rishon
Le-Zion, account No. 91100/96 – main account.
A check with the Central Banks' database did not reveal any negative
information regarding subject’s a/m account.
Nothing unfavorable
learned.
Subject's General
Manager, Mr Aharon Bartal, refused to update any data on his
company. He asked us to send them a fax with our request – which we did – and he
will consider our request.
In case he returns to us with further data, we will update you accordingly.
Subject is long
established family company, well-known in its field. Among subject’s clients
are leading local industrial corporations.
Subject is ISO
9001:2000 certified.
According
to data by of the Metal, Electrical and Infrastructure Industries Association, representing
the local Metal and Electricity Industries, which includes large scale
export-oriented industries on one hand and family-owned plants which sell to
the local market: 2010 sales (local and export) by the said industries amounted
to NIS 70 billion, comprising 25% of Israel's industrial output. Results are
similar to 2008 scales, after some 20% drop in 2009 due to the significant
slow-down in the local economy, affected by the global financial and economic crisis. Sales
for export reached US$ 10 billion in 2010.
According
to the Central Bureau of Statistics (CBS), import of metals raw
materials to the local industries in 2010 and 2011 showed an increasing trend,
after a contraction in
Despite the current general weakness in
local markets (negatively affected by the global economy), 2011 ended with
significantly improved economic indicators compared to 2010 in terms of gross
domestic investment in machinery and other equipment for the manufacturing
industry (excl. ships & aircrafts).
Central Bureau of Statistics data reveals that investments -both from import
and domestic production- of machinery & equipment rose by over 35% from
2010 (in 2010 it rose by some 10% from 2009, after it fell by 19% from 2008).
Total gross domestic investment in machinery & equipment from import alone,
rose in 2011 by 52% from 2010 (12% rise in 2010 after falling in 2009 by almost
23%).
Notwithstanding
the refusal to update data, considered good for trade engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.95 |
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UK Pound |
1 |
Rs.88.42 |
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Euro |
1 |
Rs.71.71 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
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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.