MIRA INFORM REPORT
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Report Date : |
01.02.2012 |
IDENTIFICATION DETAILS
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Name : |
PRINTPACK PACKAGING DE MEXICO S.A. DE C.V. |
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Registered Office : |
De las Fuentes 37, Parque Industrial Finsa, Postal Code 76246, El
Marques, Queretaro |
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Country : |
Mexico |
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Date of Incorporation : |
11.10.1994 |
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Legal Form : |
Stock Company of Variable Capital |
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Line of Business : |
manufacture and trading
of printed flexible packagings, intended for the food industry, personal care
and hygiene products, home items, pets. |
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No. of Employees
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315 |
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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Maximum Credit Limit : |
USD200,000 |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Mexico |
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 |
IDENTIFICATION
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CORRECT COMPANY NAME |
PRINTPACK
PACKAGING DE MEXICO S.A. DE C.V. |
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TAXPAYER REGISTRATION |
RFC PPM-941011-7P6 |
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MAIN ADDRESS |
De las Fuentes 37, Parque Industrial
Finsa, |
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POSTAL CODE |
76246 |
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PROVINCE / DEPARTAMENT |
El Marques |
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STATE / REGION |
Queretaro |
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COUNTRY |
MEXICO |
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TELEPHONE |
(52442) 2215051 |
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E-MAIL |
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WEB |
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SUMMARY
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Date of foundation |
1994 |
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Capital stock |
Not specified |
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permanent employees |
315 |
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Chief Executive |
CIMM, ANDRES |
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Disposition |
Poor.- Only general information without
figures. |
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Payments policy |
Usually to terms/good |
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Credit (**) |
Risk is Moderate. Within Average.
Satisfactory. |
CREDIT OPINION
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Requested credit |
MAXIMUM CREDIT |
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Suggested credit (*) |
USD200,000.= |
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(*)
After analyzing different factors and other opinions. |
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LEGAL BACKGROUNDS
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LEGAL STATUS |
Stock Company of Variable Capital |
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DATE OF INCORPORATION |
11OCT1994 |
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PLACE OF REGISTRY |
Queretaro, Queretaro |
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DURATION |
99 years |
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CURRENT PAID-IN CAPITAL |
Not specified |
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CLASS OF SHARES |
Registered |
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LISTED AT STOCK EXCHANGE |
No |
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CURRENT EXCHANGE RATE (US$) |
Ps$12.88 Pesos per US$1.= Dollar |
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COMMENTS |
It was not possible to obtain information on subject's incorporation, capital stock amount, or more personal details of its members. |
DIRECTORS - EXECUTIVES –
SHAREHOLDERS
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WHO IS WHO?
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CIMM, ANDRES |
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NATIONALITY |
Mexican |
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PRINTPACK INC. |
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BUSINESS
BACKGROUND It is one of the main converters of flexible packaging and rigid packaging for specialties in North America, with a history of more than 50 years of leadership in the industry, 26 plants worldwide, two of which are located in Mexico (Queretaro and Jalisco).Offices: 4335 Wendell Drive, Atlanta GA 30336, United States. |
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BUSINESS HISTORY
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This company started operating on 11/10/1994 in the city of Queretaro, Queretaro under the corporate name PRINTPACK PACKAGING DE MEXICO, with the legal status of Open-End Stock Corporation, to be engaged in manufacture and trading of printed packaging.On its website, it is read that its operations started in 1997; however, the contacted person could not confirm this information. |
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RELATED COMPANIES TO SUBJECT
COMPANY OR TO MAJORITY SHAREHOLDER
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BUSINESS
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Main activity |
Subject is engaged in manufacture and trading of printed flexible packagings, intended for the food industry, personal care and hygiene products, home items, pets, among others: Stand Up Pouches, with or without print, industrial sacks with bottom seal, preformed printed bag with flaps, easy-open, plastic handles, zippers, laminated printed rolls and/or co-extruded.Also, subject provides advisory assistance to its customers in several areas.Brands. It does not have own brands. |
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Import |
Yes |
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Country |
USA |
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Export |
Yes |
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COUNTRY |
USA, Guatemala |
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% DOMESTIC PURCHASES |
50% |
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% FOREIGN PURCHASES |
50% |
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SELLING TerritorY |
Domestic and
international market |
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EMPLOYEES |
315 |
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Comments |
Subject sells at 100% on a wholesale basis.It was not reported any uncollectible sales.Subject's production processes are ISO 9001 certified.Its main customers customers are:- PROCTER & GAMBLE- KIMBERLY CLARK- HENKEL
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FINANCIAL INFORMATION
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Interviewee(s) |
Cincia Montiel |
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Position(s) |
Direction Assistant |
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Disposition |
Poor.- Only general information without figures. |
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Information provided |
She refused to provide any financial information under internal policies. She partially cooperated by verifying general information.On our side, we consulted third-party source and official, where it was found information included in this report.It was not possible to obtain any subject's financial information.This is a privately-held Mexican company that was incorporated in Mexico in 1994 to be engaged in manufacture and trading of printed packaging. It is considered a medium-sized company and it is part of a group of companies based in USA. It has an appropriate technical team and transportation equipment for its activities. Now, it has 315 direct employees. It deals with suppliers on credit and pays appropriately. It was not found any adverse records in consulted sources. This is an insured company. |
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FINANCIAL SITUATION |
UNDETERMINEDThis company's Financial Situation is deemed to be Undetermined because it was not found any financial information to assess its results. |
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Property of company comments |
Real propeties: Subject's premises are owned, area of which was not specified. Its administrative offices, warehouse, shop, and production area are located on these premises.Vehicles: It has 15 SUV's. Brands and years were not specified. It also hires freight service.Machinery and equipment: Subject has extrusors, printers, laminating machines, bag making machines, and cutting machines. Laboratory:Material processing:- Metallization of films- Thermoforming of rigid containers- Laser microperforation- Development of heatshrinking productsPrinting:- Flexography up to 10 colours- Rotogravure up to 11 colours- Mate finish- Special inks- Reverse printing- InkjetLamination:- Extrusion- Adhesive base solvent and solventlessApplication of seal in cold:Laser precutting systemInkjet printing for variable dataBaggingLateral seal, Doypack type, delta and plain bottomApplication of closure systems (zippers and sliders)Application of spoutsApplication of degasifying valveOptional integrated handlesDigital prepress |
INSURANCE
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Insurance Comments |
Subject holds an insurance policy with a wide business coverage. |
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PAYMENTS RECORD: TRADE REFERENCES
(Confidential
Information)
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Supplier: BIOFILM, S.A. |
Tel.: (52833) 2608800 |
Country: MEXICO |
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Goods/Services?
: Prolypropylene film |
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Highest credit?
: US$ 2,000,000.= |
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Client since? : 2003 |
Terms?
: 60 days |
Performance?
: Prompt |
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Comments
: Very good customer |
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Supplier: SUN CHEMICAL, S.A DE C.V. |
Tel.: (5255) 53732000 |
Country: MEXICO |
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Goods/Services?
: Inks for graphic art |
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Highest credit?
: Ps$ 3,700,000.= |
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Client since? : 2001 |
Terms?
: 60 days |
Performance?
: Prompt |
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Comments
: Very good customer |
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Supplier: CONSORCIO. DISTRIBUIDOR QUÍMICA INDUSTRIAL, S. |
Tel.: (5255) 52498390 |
Country: MEXICO |
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Highest credit?
: Not specified |
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Comments
: It did not provide any references. |
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Supplier: COMERCIALIZADORA MORELIANA DE PLASTICOS, S. A. |
Tel.: (52443) 3230244 |
Country: MEXICO |
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Highest credit?
: Not specified. |
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Comments : It did not
provide any trade references. |
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Supplier: VINMAR PLASTICHEM, S. DE R.L. DE C.V. |
Tel.: |
Country: MEXICO |
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Goods/Services?
: Various polyestylene products |
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Highest credit?
: Ps$ Open |
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Client since? : 2008 |
Terms? : 60 days |
Performance? : Prompt |
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Comments : Very good
customer |
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Note : Other
suppliers did not provide information or could not be consulted |
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LAWSUITS
It was not found any adverse records on prohibitions, lawsuits, summons,
bankruptcies, auctions, cancelled accounts, delinquent operations against
subject.
BANKING INFORMATION
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Subject is a client of the above-mentioned
banking entities, which did not provide any information on subject's banking
movements under bank secrecy. |
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GENERAL INFORMATION
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REPUTATION |
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NOTHING AGAINST COMPANY |
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CREDIT OPINION
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Comnsulted
Credit Amount : |
MAXIMUM CREDIT |
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Suggested Credit
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USD200,000.= |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.68 |
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UK Pound |
1 |
Rs.78.17 |
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Euro |
1 |
Rs.65.52 |
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 |
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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.