MIRA INFORM REPORT

 

 

Report Date :

23.06.2012

 

IDENTIFICATION DETAILS

 

Name :

LIBBEY MÉXICO S. DE R.L. DE C.V.

 

 

Registered Office :

Manuel Doblado No. 1627 Norte, Col. Terminal, 64,580 Monterrey Nuevo León

 

 

Country :

Mexico

 

 

Date of Incorporation :

23.05.1994

 

 

Legal Form :

Limited Liability Partnership of Variable Capital

 

 

Line of Business :

The subject is a Holding Company .

 

 

No. of Employees :

Not Available

 

 

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)

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

LIBBEY MÉXICO S. DE R.L. DE C.V.

TRADE NAME

LIBBEY MEXICO

TAXPAYER REGISTRATION

RFC LME9405237U7

MAIN ADDRESS

Manuel Doblado No. 1627 Norte, Col. Terminal,

POSTAL CODE

64,580

PROVINCE / DEPARTAMENT

Monterrey

STATE / REGION

Nuevo León

COUNTRY

MEXICO

TELEPHONE

(5281) 10013000

E-MAIL

rgalvan@crisa.com

WEB

www.libbey.com

COMMENTS

 
Fax: (81) 10013025

 

SUMMARY

 

Date of foundation

1994

Capital stock

Ps$50,000.= Pesos

Chief Executive

GALVAN TRISTAN, RAUL

Disposition

Moderate.- Only some data and some figures.

Payments policy

 (No payment experience traced)

Credit (**)

Within Average. Lightly Fair Situation.

 

 

LEGAL BACKGROUNDS

 

LEGAL STATUS

Limited Liability Partnership of Variable Capital

DATE OF INCORPORATION

23MAY1994

PLACE OF REGISTRY

Monterrey, Nuevo León

DURATION

99 years

INITIAL CAPITAL

Ps$50,000.= Pesos

CURRENT PAID-IN CAPITAL

Ps$50,000.= Pesos

LAST CAPITAL INCREASE

No Capital raise recorded.

CLASS OF SHARES

Registered

SHARE VALUE

Ps$1.= Peso

CURRENT EXCHANGE RATE (US$)

Ps$13.69 per 1.00 U.S. Dollar

COMMENTS

 
-Libbey Mexico S. de R.L. de C.V. is a 100% U.S. capital company which was founded on May 23, 1994 in Monterrey, Nuevo Leon under the original name of Crisa Libbey Holdings S. de R.L. de C.V. (RFC: CLH940523E33).
-In 1998 was acquired in a 49% by Libbey, Inc. and in 2006, Libbey, Inc. acquired the remaining 51% of its capital thus subject company becoming 100% a part of Libbey, Inc. 
-As of August 2009,  Crisa Libbey Holdings S. de R.L. de C.V. changed its name to Libbey México S. de R.L. de C.V.
 
 
It should be mentioned the subject was a company part of Grupo Vitro which sold 100% of the companies that made the Crisa Division to Libbey, Inc.

 

DIRECTORS - EXECUTIVES – SHAREHOLDERS

 

FULL NAMES / COMPANY NAME

TITLE

%PART.

SINCE

GALVAN TRISTAN, RAUL

Comptroller Manager

 

 

LIBBEY INC.

Parent Co.

MAJ.SHAREHOL

 

 

 

WHO IS WHO?

 

GALVAN TRISTAN, RAUL

NATIONALITY

Mexican

PROFESSION

C.P.A.

 

 

ASSOCIATED AS PER OUR DATABASE TO

COMPANY

TITLE

TAX REG

COUNTRY

CRISA LIBBEY COMERCIAL S.R.L. DE C.V.

Comptrollership Manager

CLC051214FL3

MEXICO

CRISA LIBBEY MEXICO S. DE R.L. DE C.V.

 

CLM9407017W4

MEXICO

CRISA LIBBEY HOLDINGS S. DE R.L. DE C.V.

Manager

CLH940523E33

MEXICO

CRISA LIBBEY MEXICO S.R.L. DE C.V.

Comptrollership Manager

CLM9407017W4

MEXICO

 

 

 

 

LIBBEY INC.

 

 

BUSINESS BACKGROUND

It is a leading global glassware company.
Corporate offices are located at: 300 Madison Avenue, PO Box 10060, Toledo, OH 43699-0060, USA, Tel: 419 325 2100.

 

BUSINESS HISTORY

 

 
 
The subject is a subsidiary of "Libbey, Inc." leading glassware company worldwide.
Among some of the subsidiaries of  "Libbey, Inc." we can mention the following companies:
-Libbey Canada, Inc.
-Libbey Glass, Inc.
-Lgc Corp.
-Lga4 Corp.
-Lga3 Corp.
-Traex Company
-Libbey Com LLC
-Syracuse China Company, among others
 
The subsidiaries of Libbey Mexico S. de R.L. de C.V. are:
-Crisa Libbey México S. de R.L. de C.V. (RFC: CLM9407017W4).
-Crisa Libbey Comercial S. de R.L. de C.V. (RFC: CLC051214FL3).
-Vitrocrisa S.A. de C.V.
-Crisa Libbey S.A. de C.V.

 

 

RELATED COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER

 

COMPANY NAME

COUNTRY

TAX REG.

RELATION %

CRISA LIBBEY COMERCIAL S. DE R.L. DE C.V.

MEXICO

CLC051214FL3

Subsidiary

CRISA LIBBEY MEXICO S. DE R.L. DE C.V.

MEXICO

CLM9407017W4

Subsidiary

CRISA LIBBEY S.A. DE C.V.

MEXICO

 

Subsidiary

LIBBEY CANADA INC.

CANADA

 

Related

LIBBEY GLASS INC.

U.S.A.

 

Related

LIBBEY INC.

U.S.A.

 

Parent Co.

SYRACUSE CHINA COMPANY

CHINA

 

Related

VITROCRISA S.A. DE C.V.

MEXICO

 

Subsidiary

 

 

BUSINESS

 

Main activity

 
The subject is a Holding Company .

Import

No

Export

No

LOCATION

 

PREMISES

Own

FLOORS

2

OTHER PREMISES

 
The Subject's administrative offices and tax residence are located at the heading address.
 
The plant  C de Crisa Libbey México where glassware is made operates in the same address.
 
The facility consists of two floors and is located within an industrial area of the city.
 
OTHER LOCATION: They have no other premises.

Comments

 
Comments on Staff: By its activity the company has no payroll employees.

 

 

 

FINANCIAL INFORMATION

 

Interviewee(s)

Raul Galvan Tristan

Position(s)

Manager, Comptroller

Disposition

Moderate.- Only some data and some figures.

Information provided

 
We interviewed the C.P.A. Raul Galvan Tristan (Manager, Comptroller), who asisted us with the data contained in the report, except for the financial statements due to their confidential nature.
 
Nevertheless, we could get main accounts of the Consolidated Balance Sheet of Libbey Inc. and Subsidiaries as of December 31, 2011, expressed in US$ Dollars, included in report for reference purpose.

Comments

 
   CONSOLIDATED BALANCE SHEET OF LIBBEY INC.
 
   DATE OF BALANCE SHEET  :            31DEC2011
   TYPE OF BALANCE SHEET  :         Consolidated
   PERIOD                                  :            12 months
   CURRENCY                             :          US$ Dollars
 
   ASSETS
      TOTAL CURRENT                :        301,896,000.00
      FIXED                                    :        264,718,000.00
      0THER                                            223,537,000.00
   TOTAL ASSETS                       :        790,151,000.00
 
   LIABILITIES
      TOTAL CURRENT              :        169,153,000.00
      LONG-TERM                       :        593,218,000.00
   TOTAL SHAREH. EQUITY      :         27,780,000.00
   TOTAL LIAB./SH.EQUITY      :        790,151,000.00
 
   SALES                                    :        819,452,000.00
   PROFIT (LOSS)                       :         23,641,000.00
 

 

 

SALES

US$ 0.00 ()

FINANCIAL SITUATION

 
NN: UNDETERMINED
An indeterminate financial standing is observed since no independent (Non-consolidated) balance sheet was found to analyze this Company results at present. Nevertheless it should be mentioned this Company is part of an important international group.

Property of company comments

 
Through its subsidiaries the company owns various fixed assets.

 

PAYMENTS RECORD: TRADE REFERENCES

 

(Confidential Information)

CREDIT HISTORY

Due to the nature of its activities the company has no national or international suppliers.

 

 

BANKING INFORMATION

 

Bank

 

Nacional de México S.A. The above bank was unwilling to give information about its client as it is against its policy.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.99

UK Pound

1

Rs.88.97

Euro

1

Rs.71.57

 

 

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.