MIRA INFORM REPORT

 

 

Report Date :

21.07.2012

 

IDENTIFICATION DETAILS

 

Name :

COMPANIA GENERAL DE ACEROS SA (CGA)

 

 

Registered Office :

Av. 68 No. 37B - 51 Sur, Bogota

 

 

Country :

Colombia

 

 

Year of Establishment :

1958

 

 

Legal Form :

Sociedad Anonima

 

 

Line of Business :

It markets steel products.

 

 

No. of Employees :

500

 

 

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

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Colombia

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

GEOPOLITICS – COLOMBIA

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Republic


Economic Risk: Low

Currency: 1.00 COP = 0.000563380 USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Legal Name:

COMPANIA GENERAL DE ACEROS SA (CGA)

Trade Name:

CGA

Legal Address

Av. 68 No. 37B - 51 Sur, Bogota, Colombia

Operative Address

Av. 68 No. 37B - 51 Sur, Bogota, Colombia

Telephone:

+57 (1) 770-0560

NIT :

860069182-1

Fax:

+57 (1) 770-0530 / 550

Legal Form:

Sociedad Anonima

Email:

luz.romero@cga.com.co

Registered in:

Colombia

Website:

http://www.cga.com.co/

Date Created:

1958

Manager:

Ricardo Villarreal, General Manager

Date Incorporated:

February 13th 1979

Staff:

500

Stock:

NA

 

 

Value:

NA

Activity:

It markets steel products.

 

 

BUSINESS

 

HISTORY

 

The company was created in 1958.

PRINCIPAL ACTIVITY

 

It manufactures imports and markets metal products.

Products/Services description:

 

The company offers a wide variety of steel products.

 

Sales are:

 

Wholesale

Clients:

 

Various industries.

Operations area:

 

National, Local

The company imports from Worldwide, depending on demand

Trade References:

 

The person contacted refused to provide the names of their suppliers for us to check the trade references.

The subject employs 500 employee(s)

Comments on staff:

 

This information was not confirmed by the staff.

PAYMENTS

 

regular

LOCATION

Headquarters

 

The company is headquartered at Av. 68 No. 37B - 51 Sur, Bogota, Colombia.

 

 

Branches:

 

The company has the following branches:

 

INOXTEC

Diag. 5H No. 47 - 01

PBX: (571) 420 6800

Fax: (571) 420 7153

Bogotá - Colombia

             

MEDELLÍN

Calle 32 no. 41 - 139 Itaguď

PBX: (574) 372 4500 / 373 8111

Fax: (574) 277 6088

           

CALI

Cra. 31A No. 15 - 59 Acopi - Yumbo

PBX: (572) 691 8585

Fax: (572) 665 8593

             

BARRANQUILLA

Vía 40 no. 51 - 444

PBX: (575) 371 7600

Fax: (575) 344 3328 / 372 0220

 

BUCARAMANGA

Cra. 14 No. 23 - 02

PBX: (577) 633 7708 / 8323

Fax: (577) 633 2779

 

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

This is a private company. Elmers Martínez Ávila would be among the main shareholders.

Management:

 

Ricardo Villarreal, General Manager

Elmers Martínez Ávila, Legal Representative

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

As a private company the subject does not publish any financial statements.

We have contacted a female representative who refused to provide us any financial data on grounds of confidentiality.

 

However our financial sources could provide us with the following data.

 

Those figures are estimates provided by confidential banking and financial institutions working with the company.

 

Currency

DATE

 

COP

2011

 

Turnover

90,680,939,000

 

Operating Income

10,752,492,000

 

Net Income

6,324,774,000

 

Current Assets

53,465,944,000

 

Fixed Assets

53,465,944,000

 

Net worth

60,111,989,000

 

Liabilities

35,921,615,000

 

Bank liabilities

12,966,517,000

 

The cash flow is

NORMAL

 

 

Legal Fillings

 The sources consulted record no detrimental legal or labor court information.

 

Rating

 

Local credit bureau gave a correct credit rate.

 

The company is in Good Standing. This means that all local and federal taxes were paid on due date.

 

 

 Final Opinion

 

The subject is a big size company.

 

It started its operations in 1958. Therefore, it has an excellent experience in its field.

 

COMPANIA GENERAL DE ACEROS SA markets steel products within Colombia.

 

The company imports most of its products.

 

It is well position in the market and has a good reputation in the industry.

 

Based on the information analyzed, the company seems to have an adequate business structure with a few branches and large workforce.

 

No specific adverse record has been found on the subject.

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

 

Profitability

CORRECT

Public

NO

 

Indebtedness

CONTROLLED

Payments

REGULAR

 

Cash

NORMAL

 

 

 

 

 

APPENDIX

 

Comments

 

We have contacted a female representative who refused to provide us any kind of data on grounds of confidentiality. She did not provide her name.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.15

UK Pound

1

Rs.86.58

Euro

1

Rs.67.60

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.