MIRA INFORM REPORT

 

 

Report Date :

22.06.2012

 

IDENTIFICATION DETAILS

 

Name :

VANDEPUTTE OLEOCHEMICALS

 

 

Registered Office :

Boulevard Industriel 120, Mouscron, 7700

 

 

Country :

Spain

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

2000

 

 

Com. Reg. No.:

471546593

 

 

Legal Form :

Private Subsidiary Company

 

 

Line of Business :

Manufacture of refined oils and fats

 

 

No. of Employees :

24

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

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)

Belgium

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 

Company name & address 

 

Vandeputte Oleochemicals

Boulevard Industriel 120

Mouscron, 7700

Belgium

Tel:       056 84 61 25

Fax:      056 48 19 49

 

 

Synthesis  

 

Employees:                  24

Company Type:            Private Subsidiary

Corporate Family:          4 Companies

Ultimate Parent:            Vandeputte Holding

Incorporation Date:         2000   

Financials in:                 usd (Millions)

Fiscal Year End:            31-Dec-2010

Reporting Currency:       Euro

Annual Sales:               14.3  1

Total Assets:                 11.9

 

 

Business Description     

 

Manufacture of refined oils and fats

 

Industry             

Industry            Food Processing

ANZSIC 2006:    1150 - Oil and Fat Manufacturing

NACE 2002:      1542 - Manufacture of refined oils and fats

NAICS 2002:     311225 - Fats and Oils Refining and Blending

UK SIC 2003:    1542 - Manufacture of refined oils and fats

US SIC 1987:    207 - Fats and Oils

 

           


Key Executives   

 

Name

Title

Christian Jean Marie Joseph Vandeputte

Administrator, Partner

Luc Gaston Joseph Vandeputte

Administrator, Partner

Pierre Henri Rene Joseph Vandeputte

Administrator, Partner

Christian Marc Van Praet

Representative/Auditor

 

 

Registered No.(VAT): 471546593

 

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064

 

 

Corporate Overview

 

Location

Boulevard Industriel 120

Mouscron, 7700

Belgium

Tel:       056 84 61 25

Fax:      056 48 19 49

           

Sales EUR(mil):             10.8

Assets EUR(mil):           8.9

Employees:                   24

Fiscal Year End:            31-Dec-2010

Industry:                        Food Processing

Incorporation Date:         2000

Company Type:             Private Subsidiary

Quoted Status:              Not Quoted

Registered No.(VAT):     471546593

Administrator, Partner:   Christian Jean Marie Joseph Vandeputte

 

Contents

Industry Codes

Business Description

Financial Data

 

Industry Codes

 

ANZSIC 2006 Codes:

1150     -          Oil and Fat Manufacturing

29         -          Waste Collection, Treatment and Disposal Services

 

NACE 2002 Codes:

9003     -          Sanitation, remediation and similar activities

1542     -          Manufacture of refined oils and fats

 

NAICS 2002 Codes:

5629     -          Remediation and Other Waste Management Services

311225  -          Fats and Oils Refining and Blending

 

US SIC 1987:

207       -          Fats and Oils

4959     -          Sanitary Services, Not Elsewhere Classified

 

UK SIC 2003:

1542     -          Manufacture of refined oils and fats

9003     -          Sanitation, remediation and similar activities

 

Business Description

Manufacture of refined oils and fats

 

 

Financial Data

Financials in:

EUR(mil)

 

Revenue:

10.8

Assets:

8.9

Current Assets:

3.7

 

Fixed Assets:

5.1

 

Total Liabilities:

8.9

 

Issued Capital:

2.8

 

Net Worth:

2.8

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

-25.7%

NA

 

 

 

Corporate Family

Corporate Structure News:

 

Vandeputte Oleochemicals

Vandeputte Oleochemicals 
Total Corporate Family Members: 4 

 

 

 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

Vandeputte Holding

Parent

 

 

 

 

 

 

Vandeputte Savonnerie - Zeepfabriek

Subsidiary

Mouscron

Belgium

Furniture and Fixtures

59.3

163

 

Vandeputte Oleochemicals

Subsidiary

Mouscron

Belgium

Food Processing

14.3

24

 

Chiquita Fresh

Subsidiary

Antwerpen

Belgium

Food Processing

113.0

 

 

Executive report

 

Executives

 

Name

Title

Function

 

Christian Jean Marie Joseph Vandeputte

 

Administrator, Partner

Administration Executive

 

Luc Gaston Joseph Vandeputte

 

Administrator, Partner

Administration Executive

 

Pierre Henri Rene Joseph Vandeputte

 

Administrator, Partner

Administration Executive

 

Christian Marc Van Praet

 

Representative/Auditor

Accounting Executive

 

 

 

 

Annual Profit & Loss

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Period Length

52 Weeks

52 Weeks

52 Weeks

Filed Currency

EUR

EUR

EUR

Exchange Rate (Period Average)

0.755078

0.719047

0.683679

Consolidated

No

No

No

 

 

 

 

    Turnover

14.3

10.7

15.1

    Increase or Decrease in Stocks of Finished Goods, and Orders in Progress

0.2

-0.1

0.1

    Immobilized Production

0.6

-

-

    Other Operating Income

0.7

0.4

0.4

Operating Income

15.6

11.0

15.6

        Purchases

11.5

7.6

11.9

        Increase or Decrease in Stocks

-0.6

0.0

0.0

    Raw Materials, Consumables, and Goods for Release

10.9

7.6

11.9

    Services and Sundry Goods

2.0

1.3

1.4

    Remuneration, Social Security Charges, and Pensions

1.3

1.1

1.3

    Depreciation of and Other Amounts Written Off of Formation Expense, Intangible and Tangible Fixed Assets

0.5

0.6

0.6

    Increase or Decrease in Amounts Written Off Stocks, Orders, and Trade Debtors

0.1

0.1

0.0

    Provisions for Liabilities and Charges

0.1

-

-

    Other Operating Charges

0.1

0.1

0.1

Operating Charges

15.1

10.7

15.3

    Income From Current Assets

0.0

0.0

0.0

    Other Financial Income

0.3

0.2

0.2

Financial Income

0.3

0.2

0.2

    Interest and Other Debt Charges

0.1

0.2

0.3

    Other Financial Charges

0.2

0.1

0.1

Financial Charges

0.3

0.3

0.4

    Loss on Disposal of Fixed Assets

0.0

-

-

Extraordinary Charges

0.0

-

-

    Employees

24

18

20

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

Filed Currency

EUR

EUR

EUR

Exchange Rate

0.745406

0.696986

0.719399

Consolidated

No

No

No

 

 

 

 

    Intangible Assets

0.6

-

-

        Land & Buildings

2.4

2.8

2.9

        Plant, Machinery, and Equipment

3.2

3.7

3.8

        Furniture and Vehicles

0.1

0.1

0.0

        Leasing and Other Similar Rights

0.6

0.8

0.9

    Tangible Assets

6.3

7.3

7.6

Fixed Assets

6.9

7.3

7.6

        Raw Materials and Consumables

0.8

0.2

0.2

        Finished Goods

0.8

0.6

0.7

        Stocks

1.6

0.9

0.9

    Inventory and Orders in Progress

1.6

0.9

0.9

        Trade Debtors

2.6

2.3

2.1

        Other Amounts Receivable

0.2

0.2

0.3

    Amounts Receivable Within One Year

2.8

2.6

2.4

    Liquid Assets

0.4

0.6

0.1

    Adjustment Accounts

0.2

0.0

0.0

Current Assets

5.0

4.0

3.4

Total Assets

11.9

11.3

11.0

        Issued Capital

3.8

4.0

3.9

    Capital

3.8

4.0

3.9

        Other Liabilities and Charges

0.1

-

-

        Provisions for Liabilities and Charges

0.1

-

-

    Provisions and Deferred Taxes

0.1

-

-

Capital and Reserves

4.4

4.2

4.0

        Subordinated Loans

-

0.0

0.3

        Leasing and Other Similar Obligations

0.2

0.3

0.5

        Credit Institutions

0.3

0.7

1.3

        Financial Debts

0.4

1.1

2.1

    Amounts Due After More Than One Year

0.4

1.1

2.1

        Current Portion of Amounts Payable After More Than One Year

0.5

0.9

1.2

        Credit Institutions

2.4

2.0

2.2

        Other Loans

0.3

0.4

-

        Financial Debts

2.8

2.4

2.2

        Suppliers

3.4

2.5

1.3

        Trade Debts

3.4

2.5

1.3

        Taxes

0.0

0.0

0.0

        Remuneration and Social Security

0.2

0.1

0.1

        Taxes, Wages, and Social Security

0.2

0.1

0.2

    Amounts Payable Within One Year

6.9

6.0

4.8

    Adjustment Accounts

0.0

0.0

0.0

Creditors

7.4

7.1

6.9

Total Liabilities + Shareholders' Equity

11.9

11.3

11.0

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.42

UK Pound

1

Rs.88.45

Euro

1

Rs.71.52

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.