MIRA INFORM REPORT
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Report Date : |
24.01.2012 |
IDENTIFICATION DETAILS
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Name : |
EMPACK FLEXIBLE S.A. |
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Registered Office : |
Almirante Riveros 0413 , San Bernardo -
Maipo , XIII Region
Metropolitana |
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Country : |
Chile |
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Date of Incorporation : |
16.11.2007 |
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Legal Form : |
Private Stock Company |
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Line of Business : |
Manufacture of plastic packagings |
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No. of Employees
: |
125 |
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 : |
182.000 000's
Pesos |
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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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Chile |
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
EMPACK FLEXIBLE S.A.
( EMPACK FLEXIBLE )
Almirante Riveros 0413
San Bernardo - Maipo
XIII Region Metropolitana
CHILE
Telephone : 56-2-5697700, 56-2-5697701
Fax : 56-2-8572515
E_Mail : infoflexibles@empack.cl , saguilera@empack.cl, maguilar@empack.cl
Web Site : www.empackflexibles.cl
SUMMARY
Started
: 2007
Total Employees : 125
Payments :
Prompt
Capital
: 000's$ 2.390.605.-
Sic(s) : 3089 - 5162
Line of Business: Manufacture of plastic packagings.-
Credit Recommendation
000's
Pesos 000's US$
dollars 000's Euros
Conservative value : 182.000
370
286
Liberal value
: 200.200
407
315
If additional information is received or present information is rectified, this
recommendation may be modified.
Financial indicators
Financial statements could not be obtained, thus financial analysis can not be
carried out
COMMERCIAL
INFORMATION
Commercial Bulletin : As at 19/01/2012 subject
does not register protested
checks, bank drafts nor
promissory notes in the
commercial information bulletin
Labor Bulletin : As
at 19/01/2012 does not register labor infringements
Previsional Bulletin : As at 19/01/2012 does not
register pension fund's infringements
Consolidated delinquency : As at 19/01/2012, subject does not register any delinquent bill
TRADE REFERENCES
Suppliers' trade references are supplied as follows:
Detail of References
Old : New
Last purchase : 10-2011
Terms : 30 days
Payment : Prompt
Notes : order form
Credit : (000'sUS$) 600
Owes : Does not
Register
Due : Does
not Register
Paying Comments: Good
Supplier informed that purchases are sporadical.
Old : Since
2008
Last purchase : 12-2011
Terms : 30 days
Payment : Prompt
Notes : current account
Credit : (000'sUS$) 250.000
Owes : -
Due : Does
not Register
Paying Comments: Good
Credit line is expressed in US$ dollars.
During the last 6 months, the account holder credit history shows 41 credit
review inquiries requested by financial institutions, credit reporting
agencies,
telecommunications companies.
The account holder credit report reflects no delinquent payment history, no
protests, and no
social security and/or work infringements as of the date of
this report.
AVERAGE PAYMENTS IN CHILE
International Risk and Payment Review reported in May 2011
The local delays in payment average 0-1 month.
BANKS
Subject operates with the following
banks:
- Banco de Chile
- Banco de Credito e Inversiones
- BancoEstado
OPERATIONS
Line of Business :
Manufacture of plastic packagings, including film: laminate,
trilaminate with aluminium, thermolaminate, triseal bags,
doypacks, zipper, etc. Labels: wrap around, sleeves,
thermoshrinkable, etc.
Classification according to commercial activity:
Sic: 3089-0000 Plastics products, not elsewhere classified
Sic: 5162-0000 Plastics materials and basic shapes
Subject is considered as a medium company in this line of business, strong
competition
Sales
Sales are steady throughout the year
100% wholesalers
National and international sales territory
Products are distributed
National: 90%
Sales conditions: Cash and term payments to 30 days.
International: 10%
Exports to Argentina, Bolivia, Italy and Peru.
of Exports obtained from Customs'National Service
Country
%last year %Accum.
-------------------------------------------------------
Bolivia
96,35 100,00
Peru
2,61 0,00
Argentina
0,83 0,00
Italy
0,21 0,00
Historical registries
Total 2010 = 000's$ 234.159 Accumulated 2011 = 000's$ 495.336
Total 2009 = 000's$ 228.750
Total 2008 = 000's$ 0
Customers
Main customers are: Companies in general.
The 4 most important customers are:
Embotelladora Andina S.A., Alimentos Agrosuper Ltda., Corpora Tres
Montes
Chile S.A., Productos Fernandez S.A.
Purchases
Places orders with multiple suppliers
National: 60%
Purchase conditions: Cash and term payments to 30 days with checks.
International: 40%
Imports from Germany, Argentina, Brazil, Canada, China, South Korea, Denmark,
Spain, Netherlands, India, Italy, Mexico and United States
Records of Imports obtained from Customs'National Service
Country
%last year %Accum.
-------------------------------------------------------
Canada
28,88 40,04
United
States
24,93 30,69
South
Korea
16,91 8,67
Brazil
12,93 0,84
Netherlands
4,36 1,46
China
3,35 3,44
Argentina
2,29 0,10
Mexico
1,91 0,80
Italy
1,89 8,57
India
1,66 3,09
Denmark
0,43 0,18
Spain
0,38 0,84
Germany
0,07 1,22
Historical registries
Total 2010 = 000's$ 2.780.111 Accumulated 2011 = 000's$
3.288.088
Total 2009 = 000's$ 1.905.863
Total 2008 = 000's$ 0
Main suppliers
- Brenntag Chile Comercial e Industrial Ltda.
- Importadora Tecnica Vignola S.A.I.C.
- Muehlstein de Chile S.A.
- Sigdopack S.A.
- Sun Chemical (Chile) S.A.
Employees: 125 employees
Location
- Corporate office and industry at Almirante Riveros 0413 San Bernardo,
Chile,
commercial area, secondary street of slow traffic, construction in
good
conditions
Branches
- Commercial office at Avda. Gramado 560 Of. 24 Puerto Varas Chile
RELATED COMPANIES
Subject is related to the following companies:
- Sinclair International South America T A X 59071360-0 Las Condes
Santiago
- Materiales de Embalajes S.A. T A X 96528070-7 San Bernardo
- Agencia de Representaciones Limitada T A X 86931000-K Las Condes
Santiago
(Empack Ltda.). Sales as at 31/12/2010 000's$ 14.970.121
FIXED
ASSETS
Real estates (20/01/2012)
Subject does not register real estates
Vehicles (20/01/2012)
Subject has no vehicles
Machinery & Instalations (20/01/2012)
Own equipment
- Extrusion machines , printers , installations and other necessary
elements .
INSURANCES
Insurance Company:
-Liberty Compañia de Seguros Generales S.A.
Risks : Total
cover.
Objetive : Assets in general.
ADMINISTRATION
General Manager : Jorge
Vásquez López
Assistant of Adm. and : Marcela Aguilar
Finances Manager
Assistant Commercial : Ximena Varas A.
Manager
Accountant
: Soledad Aguilera
CURRICULUM
Andrés Emilio Giménez Petersen
Titled as : Civil
Engineer.
Position :
Partner
LEGAL
INFORMATION
Legal Structure : Private Stock Company
Constitution date : 16/11/2007
Notary
: Hernán Blanche Sepúlveda, Santiago
Term of duration : Indefinite
Legal Address : Santiago - Chile
Published in : Official Gazette
dated 14/12/2007 page Nº 14
Current Social Capital: 000's$ 2.390.605.-Divided to 478.121.- registered
shares
unique series
Social Initial Capital: 000's$ 5.000.-
Shareholder : 2
- 99,00% 96915380-7 Empack S.A.
- 1,00% Andrés Emilio Giménez Petersen
Administration is held by General Manager.
Legal changes
Public Deed dated 20/01/2010, notary Eduardo Avello Concha, Santiago, published
in the Official Gazette dated 11/02/2010 page N° 46, capital was increased:
from
$5.000.000 (revalued) to $2.390.605.167 divided into 478.121 ordinary,
registered and no par value shares, integrally subscribed and paid.
INFORMATION SOURCES
On 20/01/2012 Miss. Soledad Aguilera, Accountant, declined financial
figures,
however, submitted the data shown in this report.
-Other outside information sources.
Exchange rate
-As at 23/01/2012 $491,59 Per US$
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.50.24 |
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UK Pound |
1 |
Rs.78.13 |
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Euro |
1 |
Rs.64.79 |
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.