MIRA INFORM REPORT

 

 

Report Date :

20.03.2012

 

IDENTIFICATION DETAILS

 

Name :

PLASTINAL S.A. DE C.V.

 

 

Registered Office :

Doctor Gustavo Baz 3323, Fracc. Industrial San Nicolás 54030 Tlalnepantla

 

 

Country :

Mexico

 

 

Date of Incorporation :

26.08.1997

 

 

Legal Form :

Stock Company of Variable Capital

 

 

Line of Business :

Manufacture of oxo-biogradable  packaging for the food industry, bags, shrink and conventional packaging, courier bags, banners, zipper bags, packaging for pasteurized products, coextruded nylon, thermoformed, pet food, stamped sheets . Provision of support and counseling in materials.

 

 

No. of Employees :

270

 

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

 

Maximum Credit Limit :

US$100,000

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

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

PLASTINAL S.A. DE C.V.

TAXPAYER REGISTRATION

RFC PLA-970826-UR4

MAIN ADDRESS

Doctor Gustavo Baz 3323, Fracc. Industrial San Nicolás

POSTAL CODE

54030

PROVINCE / DEPARTAMENT

Tlalnepantla

STATE / REGION

México

COUNTRY

MEXICO

TELEPHONE

(5255) 53901815 - 53901194 - 53907411

E-MAIL

tcardenas@plastinal.com.mx

WEB

www.plastinal.com.mx

COMMENTS

 
Other email: erniz@plastinal.com.mx

 

SUMMARY

 

Date of foundation

1997

Capital stock

Ps$88,000,000.= Pesos

permanent employees

270

Chief Executive

RIOS CASTRO, ARMANDO

Disposition

Refused to give information (politely).

Payments policy

Usually to terms/good

Credit (**)

Risk is Moderate. Within Average. Satisfactory.

 

CREDIT OPINION

 

Requested credit

CREDIT LIMIT

Suggested credit (*)

US$100,000.=

(*) After analyzing different factors and other opinions.

 

 

LEGAL BACKGROUNDS

 

LEGAL STATUS

Stock Company of Variable Capital

DATE OF INCORPORATION

26AUG1997

PLACE OF REGISTRY

México

DURATION

99 years

INITIAL CAPITAL

Ps$50,000.= Pesos

CURRENT PAID-IN CAPITAL

Ps$88,000,000.= Pesos

CLASS OF SHARES

Registered.

LISTED AT STOCK EXCHANGE

No

CURRENT EXCHANGE RATE (US$)

Ps$12.67 Pesos per 1.00 USADollar

 

DIRECTORS - EXECUTIVES – SHAREHOLDERS

 

FULL NAMES / COMPANY NAME

TITLE

%PART.

SINCE

RIOS CASTRO, ARMANDO

General Manager

 

 

MORALES, CESAR

Sales Manager

 

 

MENDIOLA CEDILLO, ROBERTO

H.R. Manager

 

 

CARDENAS ALVARADO, TERESA

Accountant

 

 

CONTROL DE ACCIONES S.A. DE C.V.

Parent Co.

99.99%

 

 

 

WHO IS WHO?

 

RIOS CASTRO, ARMANDO

NATIONALITY

Mexican

PROFESSION

Engineer

 

 

 

 

 

BUSINESS HISTORY

 

 
The company was founded in the wake of the splitting of the company POLIETILENO NACIONAL DE MEXICO S.A. DE C.V. (Established in 1969, ceased operations since 1996).

 

 

RELATED COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER

 

COMPANY NAME

COUNTRY

TAX REG.

RELATION %

CONTROL DE ACCIONES S.A. DE C.V.

MEXICO

 

Parent Co.

PLASTICOS ESPECIALIZADOS DE MONTERREY S.A. DE C.V.

MEXICO

PEM870521-B11

Related

 

 

BUSINESS

 

Main activity

 
Manufacture of  oxo-biogradable  packaging for the food industry, bags, shrink and conventional packaging, courier bags, banners, zipper bags, packaging for pasteurized products, coextruded nylon, thermoformed, pet food, stamped sheets . Provision of support and counseling in materials.

Import

Yes

Country

Italy, USA.

Export

Yes

COUNTRY

USA

% CASH SALES / METHOD

10%

% Credit SALES / Terms

90% terms: 30, 60 days

% DOMESTIC PURCHASES

50%

% FOREIGN PURCHASES

50%

SELLING TerritorY

100% in National market

EMPLOYEES

270

 

 

LOCATION

 

PREMISES

Own

AREA

9,000 sqm.

OTHER PREMISES

 
Tax Domicile, administrative offices and plant are located at the above address.

Comments

 
Subject currently has a production capacity of 1100 tons monthly.

 

 

 

 

FINANCIAL INFORMATION

 

Interviewee(s)

Teresa Cárdenas

Position(s)

Accountant

Disposition

Refused to give information (politely).

Information provided

 
The interviewed person noting privacy policies, refused to provide any kind of assistance. 
 
This report was produced based on information gathered from third-party sources, official and files. 
 
It should be mentioned balance sheets and/or referential figures of this company are publicly unavailable which prevents us from assessing with accuracy their true financial situation.

 

 

SALES

US$ 0.00 ()

FINANCIAL SITUATION

 
UNDETERMINED
PLASTINAL, S.A.. DE C. V. is a Mexican company with experience in the flexible packaging market. Has a wide range of products of polyethylene and polypropylene to meet different types of market needs.
 
While financial data allowing an analysis of their results was not available, recently contacted suppliers have reported favourably on the company under investigation, indicating that it pays its obligations on time, without any adverse record against its name.

Property of company comments

 
Subject is referred to be the owner of the premises where it operates (captioned address).

 

 

 

 

 

INSURANCE

COMPANY

AGAINST

EXPIRATION

AMOUNT

ABA SEGUROS S.A. DE C.V.

General risks

No specifi

No specified

AXA SEGUROS E INVERSIONES

General risks

No specifi

No specified

 

 

 

PAYMENTS RECORD: TRADE REFERENCES

 

(Confidential Information)

Supplier: Recubrimientos Plásticos S.A. de C.V.

Tel.: (52.55) 55692890

Country: MEXICO

Goods/Services? : Pigments for plastics

 

 

Highest credit? : Ps$ 1,200,000

 

 

Client since? : 20 years

Terms? : 45 days

Performance? : Prompt

Comments : Good customer

 

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

 

Supplier

Country

Comment

Dispersiones Plásticas S.A.

MEXICO

 

Sun Chemical S.A. de C..V

MEXICO

 

Nordmeccanica SpA

ITALY

 

 

 

BANKING INFORMATION

 

Bank

BBVA BANCOMER

NACIONAL DE MEXICO

GRUPO FINANCIERO SANTANDER

 

Subject is a customer of those banks, which when consulted told us that in compliance with current legal regulations, can not provide data on their customer movements out of respect to banking secrecy.

 

 

 

 

CREDIT OPINION

Comnsulted Credit Amount :

CREDIT LIMIT

 

Suggested Credit :

US$100,000.=

 



NOTE : The opinion given is confidential, referential and with out liability.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.12

UK Pound

1

Rs.79.37

Euro

1

Rs.66.00

 

 

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.