MIRA INFORM REPORT

Report Date :

30.06.2012

IDENTIFICATION DETAILS

Name :	INDUSTRIAS VOIT S.A. DE C.V.
Registered Office :	Poniente 128 # 579, Col. Industrial Vallejo, Deleg. Azcapotzalco 02300 Mexico DF Distrito Federal
Country :	Mexico
Date of Incorporation :	05.03.1993
Legal Form :	Stock Company of Variable Capital
Line of Business :	Manufacture and distribution of sports articles such as balls, outfits and footwear.
No. of Employees :	80

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 :	Unknown
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 31^st, 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

INDUSTRIAS VOIT S.A. DE C.V.

TRADE NAME

INDUSTRIAS VOIT

TAXPAYER REGISTRATION

RFC IVO930305K72

MAIN ADDRESS

Poniente 128 # 579, Col. Industrial Vallejo, Deleg. Azcapotzalco

POSTAL CODE

02300

PROVINCE / DEPARTAMENT

Mexico DF

STATE / REGION

Distrito Federal

COUNTRY

MEXICO

TELEPHONE

(5255) 53336070

E-MAIL

jmartinez@voit.com

WEB

www.voit.com.mx

SUMMARY
Date of foundation	1993
Capital stock	No specified
permanent employees	80
Chief Executive	PIZANO FERNANDEZ, CESAR
Disposition	Poor.- Only general information without figures.
Payments policy	Usually to terms/good
Credit (**)	Within Average. Lightly Fair Situation.

LEGAL BACKGROUNDS
LEGAL STATUS	Stock Company of Variable Capital
DATE OF INCORPORATION	05MAR1993
PLACE OF REGISTRY	Mexico DF
DURATION	99 years
CURRENT PAID-IN CAPITAL	No specified
LISTED AT STOCK EXCHANGE	No
CURRENT EXCHANGE RATE (US$)	Ps$13.93 per USD.1.00
COMMENTS	Personal information of the executives was not disclosed under confidentiality.

DIRECTORS - EXECUTIVES – SHAREHOLDERS

FULL NAMES / COMPANY NAME	TITLE	%PART.	SINCE
PIZANO FERNANDEZ, CESAR	Director General
MARTINEZ, JORGE	Finance Director
ARELLANO, AXEL	Operations Manager
GODINEZ ARELLANO, RAMON	Exports Manager
ALVA, ISRAEL	Marketing Manager

WHO IS WHO?
PIZANO FERNANDEZ, CESAR
GODINEZ ARELLANO, RAMON
NATIONALITY	Mexican

BUSINESS HISTORY

INDUSTRIAS VOIT S.A. DE C.V. is a Mexican company incorporated on March 5th., 1993 in the City of Mexico, present in Canada, Europe, and Asia since 2002 approximately. It acquired all rightst for the VOIT brand internationally.
 
 

BUSINESS

Main activity

Manufacture and distribution of sports articles such as balls, outfits and footwear.
 
Trademark: VOIT (own brand)

Import

Yes

Country

Taiwan, India; direct credit

Export

No

% CASH SALES / METHOD

50%

% Credit SALES / Terms

50% (at 30 days)

% DOMESTIC PURCHASES

20%

% FOREIGN PURCHASES

80%

SELLING TerritorY

Domestic market - 100%

EMPLOYEES

80

LOCATION

OTHER PREMISES

The Company has its own sales outlets located at following addresses: - Calle SM 39, Mz. 10, Lote 01, Local 25, Supermanzana 39, C.P. 77,507, Benito Juárez, Quintana Roo. - Andador Plazas, Outlet 16, Zona Federal Tlajomulco de Zúñiga, Tlajomulco de Zúñiga, Jalisco C.P. 45,640. - López Porfirio 105, Local 3, Col. Fraccionamiento Villa Las Flores 1era. Sección, C.P. 55,710 Coacalco de Berriozabal, Edo. de Mexico.

Comments

Main Clients
- SEP Secretariat of Public Education
- Secretariat of Finances
- Public in general
 
According to the Customs Authority, the Company was registered in the Importer Register as from June 27th., 2000.

FINANCIAL INFORMATION
Interviewee(s)	Jorge Martinez
Position(s)	Finance Director
Disposition	Poor.- Only general information without figures.
Information provided	Mr. Martinez merely supplied general information. He said that under corporate policy he was not allowed to disclose information. Consequently, we have had to prepare this report based on data collected from third-party sources where no balance sheets or estimated accounting elements could be obtained.
SALES	US$ 0.00 ()
FINANCIAL SITUATION	NN: UNDETERMINED As no accounting elements were available, it is not possible to get a clearer vision of the financial potential of this Company. Financial standing is deemed to be indeterminate.
Property of company comments	They include: - Vehicles - Machinery and equipment - Computer equipment - Office furniture etc.

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS

(Confidential Information)

TRADE REFERENCES

Supplier: METAPROM S.A. DE C.V.	Tel.: 55 56882441	Country: MEXICO
Goods/Services? : Computers, consummables, accessories and supplies
Highest credit? : US$ 12,000.=
Client since? : 2008	Terms? : 30 days	Performance? : Prompt
Supplier: CAPITAL LOGISTICS S.A. DE C.V.	Tel.: (52) 55 50104700	Country: MEXICO
Goods/Services? : Logistics services
Highest credit? : US$ 7,000.=
Client since? : 2010	Terms? : 30 days	Performance? : Prompt
Comments : Supplier has advised subject pays at 15 days via bank transfers.

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

Supplier	Country	Comment
APL LOGISTICS DE MEXICO S.A. DE C.V.	MEXICO
TEST-RITE INTERNATIONAL CO. LTD.	TAIWAN

BANKERS

BANCO NACIONAL DE MEXICO S.A.
BBVA BANCOMER S.A.
HSBC MEXICO S.A.
 
In compliance with bank regulations in force, the aforesaid entities declined to provide references about their client.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.56.31
UK Pound	1	Rs.88.06
Euro	1	Rs.70.91

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%)

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