MIRA INFORM REPORT

 

 

Report Date :           

01.02.2012

 

IDENTIFICATION DETAILS

 

Name :

PLASTICOS BANDREX S.A. DE C.V.

 

 

Registered Office :

Soleras 100 Interior 3, Col. Jocotan, Postal Code 45010, Zapopan, Jalisco

 

 

Country :

Mexico

 

 

Date of Incorporation :

03.05.1994

 

 

Legal Form :

Stock Company of Variable Capital

 

 

Line of Business :

Manufacture and commercialization of labels

 

 

No. of Employees :

250

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$.50,000.= Dollars

 

 

Status :

Satisfactory

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Mexico

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

IDENTIFICATION

 

CORRECT COMPANY NAME

PLASTICOS BANDREX S.A. DE C.V.

TRADE NAME

PLASTICOS BANDREX

TAXPAYER REGISTRATION

RFC PBA-940503-BJ3

MAIN ADDRESS

Soleras 100 Interior 3, Col. Jocotan

POSTAL CODE

45010

PROVINCE / DEPARTAMENT

Zapopan

STATE / REGION

Jalisco

COUNTRY

MEXICO

TELEPHONE

(5233) 36270846 - 37777370 - 36273010

E-MAIL

emartinez@bandrex.com.mx

WEB

www.bandrex.com.mx

COMMENTS

 
Other e-mails:
 
- gsierra@bandrex.com.mx  (Administration and Finance)
- jpadilla@bandrex.com.mx  (Sales)
- mochoa@bandrex.com.mx  (Customer Services)
- aflores@bandrex.com.mx  (Technical Support)
- ggonzalez@bandrex.com.mx  (Quality)
 

 

 

SUMMARY

 

Date of foundation

1994

Capital stock

No specified

Chief Executive

SANTA CRUZ NIETO, JOSE EDUARDO

Disposition

Moderate.- Only some data and some figures.

Payments policy

Usually to terms/good

Credit (**)

Risk is Moderate. Within Average. Satisfactory.

 

CREDIT OPINION

 

Requested credit

MAXIMUM CREDIT

Suggested credit (*)

US$.50,000.= Dollars

(*) After analyzing different factors and other opinions.

 

 

 

LEGAL BACKGROUNDS

 

LEGAL STATUS

Stock Company of Variable Capital

DATE OF INCORPORATION

03MAY1994

PLACE OF REGISTRY

Zapopan, Jalisco

DURATION

99 years

CURRENT PAID-IN CAPITAL

No specified

LISTED AT STOCK EXCHANGE

No

CURRENT EXCHANGE RATE (US$)

Ps$.12.96 per USD.1.00

COMMENTS

Incorporation could neither be obtained nor the amount of the share capital.

Personal information of the members was not disclosed under confidentiality.

 

DIRECTORS - EXECUTIVES – SHAREHOLDERS

 

FULL NAMES / COMPANY NAME

TITLE

%PART.

SINCE

SANTA CRUZ NIETO, JOSE EDUARDO

Director General

 

 

SIERRA GRAJEDA, GUILLERMO

Finance Manager

 

 

MARTÍNEZ BURUEL, ENRIQUE

Accountant

 

 

 

 

 

BUSINESS HISTORY

 

PLÁSTICOS BANDREX S.A. DE C.V. is a Mexican company organized on May 3, 1994 in the City of Zapopan, Jalisco, having no changed since then the legal status.

 

The Company is related to:

SEALS & CABELS (domiciled at 4144 N. Central Express Way Ste. 600, Dallax, TX, 75201,

Tel. 214-5404902)

 

 

RELATED COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER

 

COMPANY NAME

COUNTRY

RELATION %

SEALS & CABELS

U.S.A.

 

Related

 

 

BUSINESS

 

Main activity

 
Manufacture and commercialization of labels:
- Thermo-shrinkable labels 
- Guarantee strips
- Multi-packs

Import

Yes

Country

Taiwan and United States; direct credit at 60 days

Export

Yes

COUNTRY

United States and Latin America, South America; direct credit at 45 days

% CASH SALES / METHOD

20%

% Credit SALES / Terms

80% at 30, 45 days

% Ventas exterior (Paises)

10%

% DOMESTIC PURCHASES

60%

% FOREIGN PURCHASES

40%

SELLING TerritorY

Mexican market - 90%

LOCATION

OTHER PREMISES

 
Headquarters and production plant are located at the above address.
Premises are owned by Eng. Jose Eduardo Santa Cruz Nieto (Director General) who transfers to the Company free of charge.
They are located between Calle Francisco I. Madero and Calle Inglaterra, commercial area of the city.
 
The Company has no other premises.

Comments

 
The Company has no payroll of its own.  The related company - Envolturas Higiénicas y Plásticos S.A, de C.V., provides personnel service.  They are 250 workers.
 
Main Clients:
 
- ALPURA
- NESTLÉ MÉXICO
- CESAR IGLESIAS CPNA (Dominican Republic)
- LEGACYPHARMACEUTICALS PR, LLC (Puerto Rico)

 

Certification: ISO-9001
Working Hours: Monday through Friday from 9 am to 4 pm. and from 3 pm. to  6pm. (administrative offices)  Production hours consists of three 8-hour shifts.
At present, the Company is working at 90% of the installed capacity.

 

 

FINANCIAL INFORMATION

 

Interviewee(s)

Enrique Martínez Buruel

Position(s)

Internal Accountant

Disposition

Moderate.- Only some data and some figures.

Information provided

 
We talked to Enrique Martínez Buruel who provided the information contained in this report, except for the financials under confidentiality. Mr. Martínez only commented that monthly turnover of the Company comes to Ps$.20 Million Pesos in average.
Other sources were consulted but no balance sheets were available.

 

 

Property of company comments

 
They include:
 
- PVC tubular extruders
- PETG tubular extruders
- Rotogravure printers presses
- Cutting machine
- Rewinding machine
- Physical mechanic test laboratory
- Slitter

 

 

 

 

 

INSURANCE

COMPANY

AGAINST

EXPIRATION

AMOUNT

GRUPO NACIONAL PROVINCIAL S.A. DE C.V.

 

 

 

 

PAYMENTS RECORD: TRADE REFERENCES

(Confidential Information)

                                                                       

Supplier: PROVEEDOR QUÍMICO DE GUADALAJARA S.A. DE C.V.

Tel.: (33) 36271917

Country: MEXICO

Goods/Services? : Resin

 

 

Highest credit? : No specified

 

 

Client since? : Sv.years

Terms? : 60 days

Performance? : Prompt

Comments : Ps$.1,500,000 Pesos. GOOD CLIENT

Supplier: MEXICHEM RESINAS VINÍLICAS S.A. DE C.V.

Tel.: (55) 53664000

Country: MEXICO

Goods/Services? : Resins

 

 

Highest credit? : No specified

 

 

Client since? : Sv.years

Terms? : 60 days

Performance? : Prompt

Comments : Ps$.2,000,000 Pesos. GOOD CLIENT

Note : Other suppliers did not provide information or could not be consulted

Supplier

Telephone

Country

Comment

WEB CONTROL MACHINERY CORP

 

TAIWAN

 

SOCO MACHINERY CO. LTD.

 

TAIWAN

 

 

BANKING INFORMATION

 

Bank

BANCO NACIONAL DE MÉXICO S.A.

BANCO SANTANDER (MÉXICO) S.A.

BBVA BANCOMER S.A.

 

The Company is a client of the above banks. Further information was not given under confidentiality.

 

 

 

 

CREDIT OPINION

 

Comnsulted Credit Amount :

MAXIMUM CREDIT

 

Suggested Credit :

US$.50,000.= Dollars

 



NOTE : The opinion given is confidential, referential and with out liability.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.68

UK Pound

1

Rs.78.17

Euro

1

Rs.65.52

 

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.