MIRA INFORM REPORT

 

 

Report Date :           

30.01.2012

 

IDENTIFICATION DETAILS

 

Name :

BEMIS PACKAGING MEXICO S.A. DE C.V.

 

 

Registered Office :

Barroteran 3047, Col. Alamo Industrial, Tlaquepaque, Postal Code 45,500

 

 

Country :

Mexico

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

04.06.1986

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Subject is engaged in manufacturing flexible packing, specialized in plywood procedures

 

 

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$ 100,000

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 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

BEMIS PACKAGING MEXICO S.A. DE C.V.

TRADE NAME

BEMIS PACKAGING MEXICO

TAXPAYER REGISTRATION

RFC BMP860604DN1

MAIN ADDRESS

Barroteran 3047, Col. Alamo Industrial, Tlaquepaque

POSTAL CODE

45,500

PROVINCE / DEPARTAMENT

Jalisco

COUNTRY

MEXICO

TELEPHONE

(5233) 36691400 - 36691420

E-MAIL

jorge.ledesma@bemis.com

WEB

www.bemis.com

 

 

SUMMARY

 

Date of foundation

1986

permanent employees

250

Chief Executive

FORD, STEPHEN

Disposition

Report prepared through third-party sources.

Payments policy

Usually to terms/good

 

CREDIT OPINION

 

Requested credit

Maximun

Suggested credit (*)

US$ 100,000.=

(*) After analyzing different factors and other opinions.

 

 

LEGAL BACKGROUNDS

 

LEGAL STATUS

Joint-Stock Company

DATE OF INCORPORATION

04JUN1986

PLACE OF REGISTRY

Tlaquepaque, Jalisco

DURATION

99 years

LISTED AT STOCK EXCHANGE

No

CURRENT EXCHANGE RATE (US$)

Ps$13.13 per 1 USD

 

DIRECTORS - EXECUTIVES – SHAREHOLDERS

 

FULL NAMES / COMPANY NAME

TITLE

%PART.

SINCE

CRUZ BARAJAS, JAIME

Purchase Manager

 

 

LEDESMA GALLARDO, JORGE

Comptroller

 

 

FORD, STEPHEN

General Director

 

 

 

 

WHO IS WHO?

 

BUSINESS HISTORY

 
Bemis Packaging México S.A. de C.V is a U.S capital company, which was incorporated in 1986 by its parent company, no changes have been performed since its legal structure foundation.
 
Subject is a subsidiary of Bemis Company, Inc., one of the biggest and most important companies in America. It is engaged in manufacturing of packing, pressure sensitive materials used for labels and decoration. Subject trades its shares in the Stock Exchange of New York under price key: Bemis and series: BMS.
 
Bemis Company Inc., was founded in 1958 in St. Louis, Missouri by Judson Moss Bemis. Currently, it has more than 11,000 employees located in 81 premises in 12 countries.

 

 

RELATED COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER

 

COMPANY NAME

COUNTRY

TAX REG.

RELATION %

BEMIS COMPANY INC.

U.S.A.

 

Parent Co.

BEMIS FLEXIBLE PACKAGING DE MEXICO S.A. DE C.V.

MEXICO

BFP-040310-HV2

Related

BOLSAS BEMIS S.A. DE C.V.

MEXICO

 

Related

MACTAC MEXICO S.A. DE C.V.

MEXICO

MME-850226-A56

Related

 

 

BUSINESS

 

Main activity

 
Subject is engaged in manufacturing flexible packing, specialized in plywood procedures.

Import

Yes

Country

USA and Europe and Asia countries

% CASH SALES / METHOD

10%

% Credit SALES / Terms

90% (30 days-term)

% DOMESTIC PURCHASES

40%

% FOREIGN PURCHASES

60%

SELLING TerritorY

Domestic Market

EMPLOYEES

250

LOCATION

OTHER PREMISES

 
Registered, administration and production plant operate in the address stated in the identification field of the Company.
 
The premise is located between Paseo de la Cadena and Alambique within an industrial area of the city.
 
Subject has no other premises.

Comments

 
Subject imports through direct credit.
 
Subject supplies the food industry and others from Mexican market.

 

 

FINANCIAL INFORMATION

 

Interviewee(s)

Jorge Ledesma Gallardo

Position(s)

Comptroller

Disposition

Report prepared through third-party sources.

Information provided

 
Mr. Jorge Ledesma Gallardo kindly  collaborated providing operating data, except for financial and personal figures under confidentiality reasons.
 
As a referential data, we provide herein the Consolidate Balance Sheet closed as of December 12th, 2010 of Bemis Company Inc and subsidaries, whose principle accounts we detail below:

Comments

 
                         BALANCE SHEET   AS OF 31DEC2010
                         -----------------------------
                               Expressed in USD
      
ASSETS
-------
CURRENT                US$ 1'466,919,000.=
FIXED                      1'540,753,000.=     
DEFERRED               US$ 4'285,831,000.=
                       -------------------
TOTAL ASSETS           US$ 4'285,831,000.=     
 
                         ===============
 
LIABILITIES: 
-------
CURRENT                 US$  675,259,000.=   
LONG TERM                  1'683,140,000.=
TOTAL SHARE. EQUITY        1'927,432,000.=  
                          -----------------
TOTAL LIAB./SH.EQUITY   US$ 4'285,831,000.=
 
                           ===============
 
INCOMES US$               4'835,042,000.=
PROFIT                      205,111,000.=

 

 

FINANCIAL SITUATION

 
UNDETERMINED
Financial Situation of the Company is considered as Undetermined due to it doesn't have enough financial elements to assess its results.
 
 
Subject's presence in the market, as well as the lack of adverse evidence a sustainable trend.

Property of company comments

 
Main assets: 
-Transport equipment
- Office furniture and fittings
- Computers
- Machinery and equipment

 

PAYMENTS RECORD: TRADE REFERENCES

(Confidential Information)

 

Supplier: Biofilm S.A. de C.V

Tel.: (833) 2608800

Country: MEXICO

Goods/Services? : Raw material

 

 

Highest credit? : Ps$ 200,000.=

 

 

 

Terms? : 30 days

Performance? : Prompt

Supplier: Sánchez S.A. de C.V.

Tel.: (55) 51181000

Country: MEXICO

Goods/Services? : Inks

 

 

Highest credit? : Ps$ 150,000.=

 

 

Client since? : v. years

Terms? : 30 days

Performance? : Prompt

 

 

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

Supplier

Telephone

Country

Comment

Altopro S.A. de C.V.

 

MEXICO

It was not available

Treofan México S.A. de C.V.

 

MEXICO

 

Exxom Mobil Film

 

U.S.A.

 

Bemis Company Inc.

 

U.S.A.

 

 

BANKING INFORMATION

 

Bank

NACIONAL DE MEXICO S.A

BBVA BANCOMER S.A.

 

The subject works with above-mentioned banks which based on Bank Confidentiality don't provide information.

 

 

 

 

CREDIT OPINION

 

Comnsulted Credit Amount :

Maximun

 

Suggested Credit :

US$ 100,000.=

 

Subject is eligible for the indicated credit due to Financial and Policy condition of referred Payment.

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

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.65

UK Pound

1

Rs.77.80

Euro

1

Rs.65.05

 

 

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.