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Report Date : |
09.06.2012 |
IDENTIFICATION DETAILS
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Name : |
FMC
AGRICULTURAL PRODUCTS INTERNATIONAL AG |
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Registered Office : |
Rigistrasse 184, 6340 Baar |
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Country : |
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Date of Incorporation : |
03.11.1999 |
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Com. Reg. No.: |
30461292 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacturing, |
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No. of Employees : |
15 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
FMC AGRICULTURAL PRODUCTS INTERNATIONAL AG
Suite 2402, 24/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong.
PHONE:2839 6600
FAX: 2576 2918, 2576 3178
Authorised
Representatives in Hong Kong:
Mr. Wu Shu Hui, Freda
Mr. Zhang Yi Hua
Registered in Hong Kong on: 3rd November, 1999.
(Non-Hong Kong Company)
Organization: Limited Company.
Capital: Authorised: CHF 100,000.00
Issued & Paid Up: CHF 100,000.00
Business Category: Chemical Agricultural Product Manufacturer.
Group Sale:- (Year ended 31-12-2011)
US$3,377.9 million (Whole Group)
US$1,464.5 million (Agricultural Products Group)
Company Employees: 15.
Group Employees: Approx. 5,000. (As at 31-12-2011)
Main Dealing Banker: Citibank N.A., Hong Kong Branch.
Banking Relation: Good.
Registered
Office:-
Rigistrasse 184, 6340 Baar, Switzerland.
Hong Kong Principal
Place of Business:-
Suite 2402, 24/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong.
Sales Offices:-
Indonesia (Jakarta), Australia, Pakistan (Lahore), South Korea (Seoul) and Bangladesh (Dhaka).
Manufacturing
Locations:-
China (Suzhou), Indonesia (Jawa Tengah) and Pakistan (Lahore).
Parent Company:-
FMC Corporation
1735 Market Street, Philadelphia, PA 19103, USA.
[Tel: 1-215-299-6000; Fax: 1-215-299-5998]
Subsidiaries &
Affiliated Companies:-
FMC Group of Companies
Electro Quimica Mexicana S.A. de C.V., Mexico.
Energias de Villarrubia S.L., Spain.
FMC (Shanghai) Chemical Technology Co. Ltd., China.
FMC (Shanghai) Commercial Enterprise, China.
FMC (Suzhou) Crop Care Co. Ltd., China.
FMC Agroquimica de Mexico S.A. de C.V., Mexico.
FMC Asia-Pacific Inc., USA/Hong Kong.
FMC Australasia Pty. Ltd., Australia.
FMC BioPolymer AS, Norway.
FMC BioPolymer France SAS, France.
FMC BioPolymer Germany GmbH, Germany.
FMC Chemical International AG, Switzerland.
FMC Chemical S.p.r.l., Belgium.
FMC Chemicals (Malaysia) Sdn. Bhd., Malaysia.
FMC Chemicals (Thailand) Ltd., Thailand.
FMC Chemicals BioPolymer Ltd., UK.
FMC Chemicals Italy Srl, Italy.
FMC Chemicals KK, Japan.
FMC Chemicals Ltd., UK.
FMC Chemicals Netherlands BV, Netherlands.
FMC de Mexico S.A. de C.V., Mexico.
FMC Defense Corporation, USA.
FMC Finance B.V., Netherlands.
FMC Foret S.A., Spain.
FMC France SAS, France.
FMC Funding Corporation, USA.
FMC India Private Ltd., India.
FMC Korea Ltd., Korea.
FMC Manufacturing Ltd., Ireland.
FMC Marine Colloids, Philippines.
FMC of Canada Ltd., Canada.
FMC Overseas Ltd., USA.
FMC Quimica do Brasil Ltda., Brazil.
FMC Specialty Alkali Corporation, USA.
FMC Specialty Chemicals (Zhangjiagang) Co. Ltd., China.
FMC United (Private) Ltd., Pakistan.
FMC WFC I Inc., USA.
FMC WFC II Inc., USA.
FMC Wyoming Corporation, USA.
Foraneto S.L., Spain.
Forel S.L., Spain.
Forsean S.L., Spain.
Guangzhou Co-Living International Biology Technology Co. Ltd., China.
Kelp Industries, Australia.
Minera Del Altiplano S.A., Argentina.
P.T. Bina Guna Kimia, Indonesia.
Thorungaverksmidjam hf, Iceland.
etc.
30461292
F0009856
(As per registry
dated 03-11-2011)
|
Name |
Address |
|
WU Shu Hui, Freda |
15C, Tower 12, Pacific Palisades, 1 Braemar Hill Road, North Point, Hong Kong. |
|
ZHANG Yi Hua |
Flat B, 39/F., Tower 4, Dynasty Court, 23 Old Peak Road, Hong Kong. |
Authorised Capital: CHF 100,000.00
Issued & Paid Up Capital: CHF 100,000.00
FMC Corporation, USA. (100%)
(As per registry
dated 03-11-2011)
|
Name (Nationality) |
Address |
|
Peter R. ALTENBURGER |
Witellikerweg 21, 8702 Zollikon, Switzerland. |
|
Werner Martin LEDERER |
Lerchenbergstrasse 92, 8703 Erlenbach, Switzerland. |
|
Marc HULLEBROECK |
Unit B, 19/F., 3 Repulse Bay Road, Repulse Bay, Hong Kong. |
Not available. (As per registry dated 03-11-2011)
The subject was incorporated in Switzerland on 3rd September, 1999 as a limited company. It has established a principal place of business in Hong Kong and was registered on 3rd November, 1999 as an oversea company under Part XI of the Hong Kong Companies Ordinance. It has changed its company type to a non-Hong Kong company since 14th December, 2007.
The subject was formerly located at Suite 2401-2402, 24/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong, moved to Suite 1706, 17/F. of the same building on 5th November, 2001; and further moved back to Suite 2402, 24/F. of the same building in October 2005.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Manufacturing, Sale, Marketing and Distribution.
Lines: All kinds of chemical agricultural products.
Company Employees: 15.
Group Employees: Approx. 5,000. (As at 31-12-2011)
Commodities Imported: Imported from Europe, India, China, etc.
Markets: China, Asia-Pacific, Europe, East Africa, Latin America, etc.
Group Sale:-
|
Period |
Whole Group |
Agricultural Products Group |
|
Year ended 31-12-2005 |
US$2,146.0 million |
US$ 720.3 million |
|
Year ended 31-12-2006 |
US$2,345.9 million |
US$ 765.9 million |
|
Year ended 31-12-2007 |
US$2,632.9 million |
US$ 889.7 million |
|
Year ended 31-12-2008 |
US$3,115.3 million |
US$1,058.7 million |
|
Year ended 31-12-2009 |
US$2,826.6 million |
US$1,051.6 million |
|
Year ended 31-12-2010 |
US$3,116.3 million |
US$1,241.8 million |
|
Year ended 31-12-2011 |
US$3,377.9 million |
US$1,464.5 million |
Terms/Sales: L/C or as per contracted.
Terms/Buying: As per contracted.
Authorised Capital: CHF 100,000.00
Issued & Paid Up Capital: CHF 100,000.00
Group Net Income:
US$132.4 million (Year ended 31-12-2007)
US$304.6 million (Year ended 31-12-2008)
US$228.5 million (Year ended 31-12-2009)
US$172.5 million (Year ended 31-12-2010)
US$365.9 million (Year ended 31-12-2011)
Segment Result (Agricultural
Products Group):-
US$207.0 million (Year ended 31-12-2007)
US$245.2 million (Year ended 31-12-2008)
US$289.0 million (Year ended 31-12-2009)
US$309.5 million (Year ended 31-12-2010)
US$348.3 million (Year ended 31-12-2011)
Profit or Loss: Business is profitable.
Condition: Keeping in an active state.
Facilities: Making active use of general banking facilities.
Payment: So far so good.
Commercial Morality: Satisfactory.
Banker: Citibank N.A., Hong Kong Branch.
Standing: Good.
Founded in 1999, FMC Agricultural Products International AG is also known as FMC Agricultural Products International SA or FMC Agricultural Products International Inc. Registered as a non-Hong Kong company in Hong Kong, the subject was incorporated in Switzerland.
The subject has got an affiliated company FMC Asia-Pacific Inc. located at the same address. Incorporated in the United States, FMC Asia-Pacific Inc. was registered on 31st August, 1984 in Hong Kong as a non-Hong Kong company.
The subject’s holding company FMC Corporation [FMC] is a listed firm in the United States. It has been listed in New York Stock Exchange and Chicago Stock Exchange. FMC was incorporated in 1928 under Delaware law and has its principal executive offices at 1735 Market Street, Philadelphia, Pennsylvania 19103, the United States.
FMC operates in three distinct business segments: Agricultural Products, Specialty Chemicals and Industrial Chemicals. Its Agricultural Products segment develops, markets and sells all three major classes of crop protection chemicals – insecticides, herbicides, and fungicides – with particular strength in insecticides and herbicides. These products are used in agriculture to enhance crop yield and quality by controlling a broad spectrum of insects, weeds and disease, as well as pest control in non-agricultural markets.
FMC has set up offices in Indonesia, Australia, Pakistan, South Korea, Bangladesh, etc. FMC’s plants are in China (Suzhou, Zhangjiagang of Jiangsu Province, China), Indonesia (Jawa Tengah) and Pakistan (Lahore). The subject is the Business and Regional Headquarters of the FMC Group.
FMC is one of the world’s foremost, diversified chemical companies with leading positions in agricultural, industrial and consumer markets. From its inception in 1883, FMC has been providing solutions to the world’s companies and their customers. Today, FMC uses an array of advanced technologies in research and development to improve the delivery of medications; enhance foods and beverages; power batteries; protect crop yields, structures and lawns, and advance the manufacture of glass, ceramics, plastics, pulp and paper, textiles and other products.
In the Agricultural Products Group, FMC Agricultural Products (also known as the Crop Solutions business) provides crop protection and pest control products for worldwide markets. The Pest Solution business serves the structural pest control, turf and ornamental, and home and garden markets. Pest management is also about managing business. That’s why FMC has developed SmartBiz and SmartBiz Mobile to help its clients take care of the business of pest management. FMC Agricultural Products Group provides cost-effective, superior-performing insecticides (synthetic chemical intermediates) and herbicides (synthetic chemical intermediates) for use on a broad range of crops and pests. Its products control pests to help farmers maximise yields. FMC is a leader in developing innovative and unique solutions to its customers toughest pest problems with products such as “Aim®” herbicide, “Capture®” insecticide/miticide and “Mustang Max™” insecticide.
Agricultural Products provides a wide range of proprietary, branded products — based on both patented and off-patent technologies — for global crop protection, professional pest control, and lawn and garden markets. Product branding is a prevalent industry practice used to help maintain and grow market share by promoting end-user recognition and product and supplier reputation. Agricultural Products enjoys relatively strong niche positions in crop and non-crop market segments in the Americas, Europe and other parts of the world.
Insecticides represent the majority of FMC’s sales in the Agricultural Products segment, particularly pyrethroid and carbamate chemistries, in which FMC maintains leading market positions based on sales. FMC’s proprietary herbicides have grown significantly over the last several years. Its herbicide portfolio primarily targets niche uses and controls a wide variety of difficult-to-control weeds. FMC is also selectively evaluating opportunities to enhance its market position in fungicides, so that it can broaden its portfolio across the three major pesticide categories, i.e. insecticides, herbicides and fungicides.
For the year ended 31st December, 2011, sale of the Group’s Agricultural Products was US$1,464.5 million, an increase of 17.9% versus 2010 (2010: US$1,241.8 million). The operating profit of this segment was US$348.3 million, grew by 12.5% versus 2010 (2010: US$309.5 million).
In 2011, the Group completed a series of acquisitions.
In 2012, FMC expects another year of solid performance. It expects to have increased sales driven by higher volumes in its Agricultural Products segment, particularly in Latin America, North America and Asia, as a result of strong market conditions and higher selling prices and volumes in both Specialty and Industrial Chemicals.
It also expects an increase in earnings, mostly driven by higher sales as discussed above. Its projected earnings increase is expected to be partially offset by higher spending on growth initiatives and higher raw material costs and energy costs. It expects cash flow from its business segments to remain strong.
In FY 2011, the Group employed approximately 5,000 people, with approximately 2,500 people in its domestic operations and 2,500 people in its foreign operations. Approximately 35% of its US-based and foreign-based employees respectively, are represented by collective bargaining agreements.
The Group’s China firms are the following five:-
FMC (Shanghai) Chemical Technology Co. Ltd.
FMC (Shanghai) Commercial Enterprise
FMC (Suzhou) Crop Care Co. Ltd.
FMC Specialty Chemicals (Zhangjiagang) Co. Ltd.
Guangzhou Co-Living International Biology Technology Co. Ltd.
The Chairman and Chief Executive Officer of the FMC Group is Mr. Pierre Brondeau. He was appointed on 1st October, 2010 as William G. Walter who is aged 68 retired in early 2010.
On the whole, in view of the background and parentage of the subject, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.36 |
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UK Pound |
1 |
Rs.85.64 |
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Euro |
1 |
Rs.69.21 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
---- |
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.