|
Report Date : |
17.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
AVERY DENNISON MATERIALS PTY LTD |
|
|
|
|
Registered Office : |
1104-1124 Centre Road Oakleigh South Victoria 3167 |
|
|
|
|
Country : |
Australia |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
22.07.1970 |
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|
|
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Com. Reg. No.: |
007706934 |
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|
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Legal Form : |
Australian Proprietary Company |
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|
|
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Line of Business : |
Manufacturing & sales of adhesive labels. |
|
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|
No. of Employees : |
400 employees (Subject); 32,100 employees (Avery Dennison Group) |
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 : |
USD 1,200,000 |
|
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 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Verified Address
Subject name : AVERY DENNISON MATERIALS PTY LTD
Business address : 1104-1124 Centre Road
Town : Oakleigh South
Province : Victoria
Zip/postal code : 3167
Country : Australia
Tel : +61 3 92710300
Fax : +61 3 92710301
Website : www.fasson.com.au
Registered address : C/o NORTON ROSE AUSTRALIA Level 18, Grosvenor Place
225 George Street
Town : Sydney
Province : New South Wales
Zip/postal code : 2000
Country : Australia
Comments : The provided address 16 Hewittson Road
Elizabeth West, SA 5113, Australia belongs to the Subject's production facilities.
Executive Summary
Date founded or registered : 22/07/1970
Legal form : Australian Proprietary Company
Chief executive : David Roland Martin
Issued & paid up capital : AUD 9,000,000
Sales turnover : USD 6,512,700,000 (Group-consolidated 12 months, 31/12/2010)
Net income : USD 316,900,000 (Group-consolidated 12 months, 31/12/2010)
Total fixed assets : USD 5,099,400,000 (Group-consolidated 12 months, 31/12/2010)
Line of business : Manufacturing & sales of adhesive labels.
Staff employed : 400 employees (Subject); 32,100 employees (Avery Dennison Group)
Company Analysis
Country risk : Country risk is minimal
Operation trend : Operational trend is steady
Management experience: Management
is adequately experienced
Financial performance : Financial performance is good
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion: USD
1,200,000
Credit amount asked : Not described.
Comments : Larger credit can still be considered.
The Subject is well positioned in the market and the financial stability of the
group is positive.
Registry Data
Registration date : 22/07/1970
Legal form : Australian Proprietary Company
Registration no Australian Company Number: 007706934
Registered authority : Australian Securities and Investments Commission
Fiscal/ Tax no : Australian Business Number: 92007706934
Registry status : Live/Active
Previous name : FASSON PTY. LIMITED (initial)
Change of legal form : None reported.
Key Management
Name : David Roland Martin
Designation : Managing Director
Name : Ian David Brown
Designation : Financial Director
Appointments
Name : Karyn Elizabeth Rodriguez
Designation : Director
Appointment date : 21/08/01
Address : 750 Hastings Ranch Drive
Pasadena, CA 91107
United States
Biography : Born on 31-08-1959 in New York, United States.
Ms. Karyn E. Rodriguez is Vice President and Treasurer of Avery Dennison Corporation. Previously she has been Assistant Treasurer, Corporate Finance and Investments from 1999-2001.
Name : David Roland Martin
Designation : Director
Appointment date : 01/01/06
Address : 1 Carrington Grove
Brighton East, VIC 3187
Australia
Biography : Born on 18-06-1964 in Adelaide, South Australia, Australia.
Name : Vikas Arora
Designation : Director
Appointment date : 30/06/10
Address : 1410 N Curson Avenue, Apt 205
Los Angeles, CA 90046-7806
United States
Biography : Born on 14-10-1973 in Michigan, United States.
Name : Ian David Brown
Designation : Director
Appointment date : 15/12/08
Address : 276 Galston Road
Galston, NSW 2159
Australia
Biography : Born on 24-09-1964 in Boxford, United Kingdom.
Name : Azima Moiz
Designation : Director
Appointment date : 01/08/10
Address : Rm 710, 7/F, J Residence No. 60 Johnston Road Wanchai
Hong Kong
Biography : Born on 07-06-1969 in Singapore.
Name : Georges Gravanis
Designation : Director
Appointment date : 01/08/10
Address : Flat B, 1/F, 127 Repulse Bay Road
Repulse Bay
Hong Kong
Biography : Born on 01-01-1958 in Le Piree, France.
Staff employed : 400 employees (Subject); 32,100 employees (Avery Dennison Group)
Key Advisors
Auditors : COOPERS & LYBRAND
91 King William Street
Adelaide, SA 5000
Australia
Composition
Authorized Capital : AUD 9,000,000
No of shares : 9,000,000 Ordinary Shares
Share par value : AUD 1
Issued capital : AUD 9,000,000
Paid up capital : AUD 9,000,000
How listed : Full List
Composition
Shareholder name : AVERY DENNISON AUSTRALIA GROUP HOLDINGS PTY LIMITED
Address : C/o NORTON ROSE AUSTRALIA
Level 18, Grosvenor Place
225 George Street
Sydney, NSW 2000
Australia
No. of shares : 9,000,000 Ordinary Shares
% of shares : 100%
Structure
Name : AVERY DENNISON CORPORATION
Affiliation type : Ultimate Holding Company
Address : Miller Corporate Center
150 North Orange Grove Boulevard
Pasadena, CA 91103
United States
Comments : Avery Dennison Corporation engages in the manufacture and sale of
pressure-sensitive materials; office and consumer products; and various tickets, tags, labels, and other converted products worldwide. Its Pressure-sensitive Materials segment offers papers, plastic films, metal foils, and fabrics to label printers and converters; and performance polymer products, including solvent and emulsion-based acrylic polymer adhesives, protective coatings, and other
polymer additives. This segment also provides graphic products consist of films and other products to architectural, commercial sign, and digital printing markets; durable cast and reflective films to construction, automotive, and fleet transportation markets; scrim-reinforced vinyl materials for banner sign applications; and reflective films for traffic and safety applications, as well as films for weather-resistant applications. The company’s Retail Information Services segment offers brand identification products, including woven and printed labels, graphic tags, and barcode tags; information management products, such as price tickets, carton labels, and RFID tags; and solution-enabling products, which include printers, fastening and application devices, and security management products to retailers, apparel manufacturers, distributors, and industrial
customers. Its Office and Consumer Products segment provides printable media products, such as copier, ink-jet, and laser printer labels and related computer software, as well as ink-jet and laser printer card and index products; organization, filing, and presentation products consisting of binders, dividers, and sheet protectors; and stationery products, including writing instruments, markers, and adhesives for office, school, and home uses. The company was formerly known as Avery International Corporation and changed its name to Avery Dennison Corporation in 1990. Avery Dennison Corporation was founded in 1935 and is headquartered in Pasadena, California.
Name : AVERY DENNISON AUSTRALIA GROUP HOLDINGS PTY LIMITED
Affiliation type : Parent Company
Address : C/o NORTON ROSE AUSTRALIA Level 18, Grosvenor Place
225 George Street
Sydney, NSW 2000
Australia
Name : AVERY DENNISON MATERIALS SDN BHD
Affiliation type : Sister Company
Address : Lot 6 Jalan P/2 Kawasan Perusahaan Bangi
43650 Bandar Baru Bangi Selangor Darul Ehsan Malaysia
Name : AVERY DENNISON OFFICE PRODUCTS PTY LIMITED
Affiliation type : Sister Company
Address : 11 Carrington Road
Castle Hill, NSW 2154
Australia
Name : AVERY DENNISON MATERIALS NEDERLAND B.V.
Affiliation type : Sister Company
Address : Rijndijk 86
2394AJ Hazerswoude-Rijndijk
Netherlands
Name : AVERY DENNISON MATERIALS NEW ZEALAND LIMITED
Affiliation type : Sister Company
Address : 40 Vestey Drive
Westfield, Auckland 1060
New Zealand
Name : AVERY DENNISON (INDIA) PRIVATE LIMITED
Affiliation type : Sister Company
Address : Narsinghpur Industrial Area
Six Kilometre Stone, Delhi - Jaipur Highway
District Gurgaon - 122001
Haryana
India
Name : AVERY DENNISON SINGAPORE (PTE) LTD
Affiliation type : Sister Company
Address : 151 Pasir Panjang Road
Pasir Panjang Distripark #03–13
Singapore 118480
Singapore
Name : AVERY DENNISON MATERIALS GMBH
Affiliation type : Sister Company
Address : Bembergstraße 1
D-42103 Wuppertal
Germany
Name : AVERY DENNISON (THAILAND) LTD.
Affiliation type : Sister Company
Address : 49/51-54 Kingkaew Road, Moo 12
Tambol Rajathewa
Bangplee District, Samutprakam Province
Thailand
Related companies and corporate affiliations comments: Other companies of the Avery Dennison Group should be considered affiliates of the Subject.
Bank Details
Name of bank : National Australia Bank Limited
Address : Australia
Account details :
Current Account
Name of bank : Westpac Banking Corporation
Address : Australia
Account details :
Current Account
Comments : It is generally not the policy of local
banks to provide credit status information to non related parties, however interested
parties would be advised to consult first with the Subject if banker's
references are required.
|
Mortgages : Legal Fillings |
None reported. |
|
|
Bankruptcy
fillings :
Court judgements :
Tax liens :
Others : |
None reported. None reported.
None reported. None reported. |
|
Description Source of
financial statement : |
Public Record Sources |
|
|
Financial
statement date :
Type of accounts :
Currency : Consolidation
type : |
31/12/10 Full audited US Dollar (USD) Group Consolidated |
Group Consolidated |
|
Currency : |
US Dollar (USD) |
US Dollar (USD) |
|
Denomination : |
(x1) One |
(x1) One |
|
Date of
financial year end : |
31/12/10 |
31/12/09 |
|
Length of
accounts : |
12 months |
12 months |
|
Sale turnover /
Income : |
6,512,700,000 |
5,952,700,000 |
|
Gross profit : |
1,826,000,000 |
1,586,500,000 |
|
Profit before
tax : |
351,300,000 |
-790,900,000 |
|
Net income : |
316,900,000 |
-746,700,000 |
|
Non current
assets : |
3,147,500,000 |
3,269,600,000 |
|
Current assets : |
1,951,900,000 |
1,733,200,000 |
|
Inventories : |
519,900,000 |
477,300,000 |
|
Total assets : |
5,099,400,000 |
5,002,800,000 |
|
Current
liabilities : |
1,831,800,000 |
1,867,700,000 |
|
Non current liabilities : |
1,621,900,000 |
1,772,500,000 |
|
Total
liabilities : |
3,453,700,000 |
3,640,200,000 |
|
Share equity : |
1,645,700,000 |
1,362,600,000 |
|
Retained earning : |
1,727,900,000 |
1,499,700,000 |
Comments : The group’s consolidated financial
information above relates to the Subject’s Ultimate Holding Company Avery
Dennison Corporation and all its subsidiaries which include the Subject.
Main activities : The Subject is engaged in manufacturing of adhesive labels used on packaging and other items. The Subject develops pressure-sensitive adhesives and self adhesive base materials. Its products include pressure-sensitive and non-adhesive coated papers, films and foils.
The Subject is ultimately owned by Avery Dennison Corporation.
Avery Dennison Corporation is a global manufacturer and distributor of pressure-sensitive adhesive materials (such as self-adhesive labels). The company is headquartered in Pasadena, California.
Avery Dennison Corporation is a Fortune 500 company with revenue around USD 6 billion in 2010. Its pivotal line of products are found in its Pressure-Sensitive Materials segment, responsible for 54 percent of sales. The company employs 36,000 people worldwide, with manufacturing and distribution facilities in over 60 countries.
The company operates through 4 segments:
The Pressure-Sensitive Materials segment manufactures and sells pressure-sensitive roll-label materials, films for graphic applications, reflective highway-safety products, performance polymers, and extruded films.
The Office and Consumer Products segment manufactures and sells various office and consumer products, including labels, binders, dividers, sheet protectors, and writing instruments. It was announced January 3,
2012, that this division was being purchased by 3M for $550 million.
The Retail Information Services segment designs, manufactures, and sells various price-marking and brand-identification products, including tickets, graphic and barcode tags and labels, woven and printed labels, and related supplies and equipment.
Other Specialty Products segment provides automotive and industrial products, radio-frequency identification (RFID) tags and inserts, specialty tape, security printing and performance films.
Product & services : - Pressure-sensitive and non-adhesive coated papers, films and foils
- Self adhesive base materials
Brand : Avery Dennison
Fasson
Purchases
Local : Yes
International : Worldwide
Sales
Local : Yes
International : Worldwide
Key events : Avery Dennison Corp Increases Quarterly Dividend
Tuesday, 31 Jan 2012
Avery Dennison Corp announced that the Board of Directors has increased its quarterly dividend. The Board declared a quarterly dividend of $0.27 per share, reflecting a $0.02, or 8%, increase over the previous quarterly dividend. The dividend is payable March 21, 2012 to shareholders of
record on March 7, 2012.
3M Company To Acquire Office And Consumer Products Business Of
Avery Dennison Corp. Tuesday, 3 Jan 2012
3M Company announced that it has entered into a definitive agreement to acquire the Office and Consumer Products business (OCP) of Avery Dennison Corp. for a total purchase price of $550 million in cash, subject to post-closing adjustments. The Office and Consumer Products business of Avery Dennison is the suppliers of office and education products, including labels, binders, presentation products, filing and indexing products, writing instruments, and other office and home organization products. The transaction is expected to be completed in the second half of 2012, subject to customary closing conditions including any necessary regulatory approvals.
Avery Dennison Corp. Teams With Plaxo, Inc
Friday, 18 Nov 2011
Avery Dennison Corp. announced that Plaxo, Inc., creators of an
easy-to-use online address book, announced it has teamed with the Office and Consumer Products Group of Avery Dennison, to offer the convenience of creating contact mailing labels quickly and easily. Plaxo has leveraged the Avery Design & Print Online program to offer Plaxo address book users the added value of printing out labels from their Plaxo personal and business contacts. Whether it is for personal use such as holiday cards, or business use such as shipping labels, the two companies have streamlined the mailing label process. Plaxo's address book data (business and/or home addresses) is seamlessly integrated into the Avery
Design & Print Online system and generates labels to a ready-to-print PDF.
Avery Dennison Corp. Declares Quarterly Dividend
Thursday, 27 Oct 2011
Avery Dennison Corp. announced that the Board of Directors of Avery Dennison Corporation declared a quarterly cash dividend of $0.25 per share. The dividend is payable on December 21, 2011 to all shareholders of record at the close of business on December 7, 2011.
Avery Dennison Corp. Lowers FY 2011 EPS Guidance
Wednesday, 26 Oct 2011
Avery Dennison Corp. announced that for fiscal 2011, it expects adjusted earnings per share (EPS) in the range of $2.15 and $2.30. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $2.52 for fiscal 2011.
Martha Stewart Living Omnimedia Announces Partnership With Avery
Dennison Corp. Thursday, 22 Sep 2011
Martha Stewart Living Omnimedia and Avery Dennison Corp. announced they have teamed together to create the Martha Stewart Home Office with Avery product line.
Avery Dennison Corp. Declares Quarterly Dividend
Wednesday, 27 Jul 2011
Avery Dennison Corp. announced that it has declared a quarterly cash dividend of $0.25 per share. The dividend is payable September 21, 2011, to shareholders of record as of the close of business on September 7,
2011.
Avery Dennison Corp. Lowers FY 2011 EPS Guidance
Tuesday, 26 Jul 2011
Avery Dennison Corp. announced that for fiscal 2011, it expects adjusted earnings per share (EPS) in the range of $2.45 and $2.75. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $3.85 for fiscal 2011.
Avery Dennison Corp.'s Avery Dennison Medical Solutions And Proteus Biomedical Launch Partnership
Tuesday, 7 Jun 2011
Avery Dennison Corp.'s Avery Dennison Medical Solutions and Proteus Biomedical, Inc. announced a partnership focusing on patch-based wearable sensors for consumer, home health care and remote medical applications. Financial terms were not disclosed. Proteus has developed a U.S. FDA 510K cleared and European Union CE Mark-certified personal monitoring device for continuous physiologic sensing and monitoring. Proteus and Avery Dennison Medical Solutions have joined forces to reduce cost, enhance wearability and commercialize this advanced platform. Proteus’ personal monitoring technology incorporates multiple sensors to monitor important physiologic parameters of interest to consumers and clinicians, including heart rate, physical activity and sleep patterns. Avery Dennison Medical Solutions is providing adhesive and material technologies and developing the manufacturing platform to mass produce the wearable sensors for the companies’ respective customers.
Avery Dennison Corp. Declares Quarterly Dividend
Thursday, 28 Apr 2011
Avery Dennison Corp. announced that it has declared a quarterly cash dividend of $0.25 per share. The dividend is payable June 15, 2011, to shareholders of record at the close of business on June 1, 2011.
Property & Assets
Premises : The Subject operates from head office located at the verified heading address consisting of production facilities, warehouse and administrative office.
Branches : In addition, the Subject operates from branch offices and production facility located at:
Production facility:
16 Hewittson Road
Elizabeth West, SA 5113
Australia
Tel: +61 8 82093201
Qld Distribution Centre
1/67 Colebard St W Acacia Ridge QLD 4110
Australia
Tel: +61 7 37151700
New South Wales Distribution Centre
Unit D, 21 Loyalty Road
North Rocks, NSW 2151
Australia
Tel: +61 2 8839 8100
Western Australia Distribution Center
2 Pavers Circle
Malaga, WA 6090
Australia
Tel: +61 8 9209 6400
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 43.879 billion
Gross domestic product - GDP : US$ 1.448 trillion
GPP (Purchasing power parity) : 918.529 billion of International dollars
GDP per capita - current prices : US$ 64,351
GDP - composition by sector : agriculture: 4.1% industry: 26% services: 70%
Inflation : 2008: 4.4%
2009: 1.8%
2010: 2.8%
Unemployment rate : 2008: 4.2%
2009: 5.6%
2010: 5.2%
Public debt
(General Government gross debt as a % GDP) : 2008: 11.6%
2009: 17.6%
2010: 22.3%
Government bond ratings : Standard & Poor's: AAA/Stable/A-1+
Moody's rating: Aaa
Moody's outlook: STA
Market value of publicly traded shares : US$1.258 trillion
Largest companies in the country : Westpac Banking Group (Major Banks), BHP Billiton (Diversified Metals & Mining), Commonwealth Bank (Major Banks), National Australia Bank (Major Banks), ANZ Banking (Major Banks), Telstra (Telecommunications services), Wesfarmers (Food Retail)
Trade & Competitiveness Overview
Total exports : US$210.7 billion
Exports commodities : coal, iron ore, gold, meat, wool, alumina, wheat
Total imports : US$187.2 billion
Imports commodities : machinery and transport equipment, computers and office machines, telecommunication equipment and parts, crude oil and petroleum products
Export - major partners : Japan 18.9%, China 14.2%, South Korea 8%, US 6%, NZ 5.6%, India
5.5%, UK 4.2%
Import - major partners : China 15.5%, US 12.8%, Japan 9.6%, Singapore 5.6%, Germany 5.2%, UK 4.3%, Thailand 4.2%
FDI Inflows : 2008: US$46,722 million
2009: US$22,572 million
2010: US$32,472 million
FDI Outflows : 2008: US$32,819 million
2009: US$18,426 million
2010: US$26,431 million
Best countries for doing business: 10 out of 183 countries
Global competitiveness ranking : 20 (ranking by country on a basis of 142, the first is the best)
Country and Population Overview
Total population : 22.23 million
Total area : 7,692,024 km2
Capital : Canberra
Currency : Australian dollars (AUD)
Internet users as % of total population: 76.00%
Purchase Term
Local : Prepayment, Cash against document,
Credit up to 120 days
International : L/C, Cash against document, Credit up
to 120 days
Sales Term
Local : Prepayment, Cash against document,
Credit up to 120 days
International : L/C, Cash against document, Credit up
to 120 days
Trade Reference/ Payment
Behaviour
Comments : As local and international trade
references were not supplied, the Subject's payment track record history cannot
be appropriately determined but based on our research, payments are believed to
be met without delay.
Investigation Note
Sources : Interviews and material provided by the
Subject
: Other official and local
business sources
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.25 |
|
|
1 |
Rs.77.45 |
|
Euro |
1 |
Rs.64.89 |
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.