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Report Date : |
28.03.2012 |
IDENTIFICATION DETAILS
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Name : |
URREA HERRAMIENTAS PROFESIONALES
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Registered Office : |
Carretera a El Castillo Km. 11.5, Col. San José El
Castillo, 45680 El Salto, Jalisco |
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Country : |
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Date of Incorporation : |
14.06.1963 |
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Legal Form : |
Stock Company of Variable Capital |
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Line of Business : |
Engaged in manufacture and distribution of hand tools and
power tools, such as wrenches, pliers, hammers, sprinklers, screwdrivers,
tools in general, etc. |
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No. of Employees : |
800 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Mexico |
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 |
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CORRECT COMPANY NAME |
URREA
HERRAMIENTAS PROFESIONALES S.A. DE C.V. |
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TAXPAYER REGISTRATION |
RFC UHP-900402-Q29 |
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MAIN ADDRESS |
Carretera a El Castillo Km.
11.5, Col. San José El Castillo, |
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POSTAL CODE |
45680 |
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PROVINCE / DEPARTAMENT |
El Salto |
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STATE / REGION |
Jalisco |
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COUNTRY |
MEXICO |
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TELEPHONE |
(5233) 32087900 |
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E-MAIL |
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WEB |
www.urreanet.com (del grupo) |
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COMMENTS |
Toll Free Number: 01 (800) 8887732 Additional E-mail: ventas@urrea.net |
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SUMMARY
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LEGAL STATUS |
Stock Company of Variable
Capital |
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DATE OF INCORPORATION |
14JUN1963 |
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PLACE OF REGISTRY |
Guadalajara, Jalisco |
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NOTARY OFFICE |
Felipe Vásquez Aldana |
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DURATION |
99 years |
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REGISTRATION |
Book 19, Record 39, 2nd.
Office/Notarial Act 22047 |
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CURRENT PAID-IN CAPITAL |
Ps$97,945,000.= Pesos |
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LAST CAPITAL INCREASE |
30/11/2002 |
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CLASS OF SHARES |
Registered |
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LISTED AT STOCK EXCHANGE |
No |
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SHARE VALUE |
Ps$1.= Peso |
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CURRENT EXCHANGE RATE (US$) |
Ps$12.63 per US$1.= Dollar |
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COMMENTS |
Subject was incorporated as PROTOMEX SA on June 14, 1963, later it changed into a Corporation of Variable Capital on June 12, 1981.Subsequently, on April 02, 1999, It change into its current legal name: URREA HERRAMIENTAS PROFESIONALES SA DE CV.Subject is a member of the following institutions:- America Chamber of Commerce Of Mexico "AC-AMCHAM"- Consejo Mexicano de Comercio Exterior de Occidente AC-COMCE (Mexican Board of Western Foreign Trade)- Cámara Regional de la Industria de la Transformación del Estado de México (Regional Chamber of Processing Industry of the State of Mexico)- Asociación Americana de Fabricantes de Maquinarias y Suministros (American Association of Machinery and Supplies Manufacturers)- Asociación de Distribuidores de Herramientas Especializadas y Sujetadores (Association of Specialized Tools and Fasteners Distributors)- Asociación Americana de Fabricantes de Ferretería (American Association of Hardware Items Manufacturers)- Instituto de Herramientas de Mano (Hand Tool Institute)- Asociación de la Industria de la Forja (Association of Forging Industry)Subject closes fiscal year on December 31 each year. |
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GRUPO
URREA DIVISION HERRAMIENTAS S.A. DE C.V. |
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BUSINESS
BACKGROUND Company located a tKm.11.5 Carretera a el Castillo, Col. San José El Castillo, El Salto, Jalisco - México. |
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Subject was originally incorporated under the corporate name PROTOMEX S.A. on 14/06/1963. On 12/06/1981, it changed its legal status to open-end stock corporation.Later, on 02/04/1999, it changed its corporate name to the current name URREAHERRAMIENTAS PROFESIONALES SA DE CV.URREA HERRAMIENTAS PROFESIONALES S.A. DE C.V. is part of the URREA Group, which is based in the city of Guadalajara and consists of companies that are engaged in manufacture in Mexico. It started operating in 1907 as a small foundry, and then it became the largest manufacturer of valves and chromium-plated plumbing fittings in Latin America. Currently, the URREA Group brings together factories of valves and bronze plumbing fittings, hand tools.In 1963, Raul Urrea and Morris Pendleton, President of Pendleton Tool Industries (Proto) joined and made a co-investment to establish a PROTO tool factory in Mexico, called PROTOMEX.Mr. Pendleton contributed the 49% of PROTOMEX capital stock, his knowledge and technical assistance to manufacture PROTO tools in Mexico. The initial production was burins and chisels, as well as open-end wrenches.In 1984, STANLEY acquired the PROTO brand, and in 1988 the URREA Group acquired the whole PROTOMEX. Agreements on manufacturing and license for the PROTO brand were finished, and PROTOMEX changed the brand for its tools to URREA.In the following years, PROTOMEX continued to design and manufacture hand tools of professional quality.PROTOMEX started exporting tools to the United States and Latin America.Thus, a sales and distribution center was established south of California, and it is now located in San Antonio, Texas.In 1990, the company changed its name to URREA HERRAMIENTAS PROFESIONALES S.A. DE C.V.Subject is part of the Tools Division of the URREA Group, which is also comprised of the following companies: |
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BUSINESS
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SIC
Classification |
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Main activity |
Subject is engaged in manufacture and distribution of hand tools and power tools, such as wrenches, pliers, hammers, sprinklers, screwdrivers, tools in general, etc.Sold brand: URREA, SURTEK, LOCK, LUCKY. |
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Import |
Yes |
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Country |
China and USA |
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Export |
Yes |
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COUNTRY |
USA and South America |
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% CASH SALES / METHOD |
10% |
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% Credit SALES / Terms |
90% (30-day terms) |
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% Ventas exterior (Paises) |
20% |
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% DOMESTIC PURCHASES |
60% |
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% FOREIGN PURCHASES |
40% |
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SELLING TerritorY |
80% (Nationwide) |
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EMPLOYEES |
800 |
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Comments |
The company carries out its sales as follows: 30% half wholesale and 70% wholesale.No bad sales were reported by the company.
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Interviewee(s) |
CP. Hildelisa Miramontes
Gonzalez. |
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Position(s) |
General Accountant |
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Disposition |
Poor.- Only general
information without figures. |
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Information provided |
Mrs Miramonte refused to disclose the last financial statements and/or reference under confidentiality reasons, restricting itself to validate general operating data, which were complemented by third parties and public sources; unfortunately accounting figures were not available. |
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SALES |
US$ 0.00 () |
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FINANCIAL SITUATION |
UNDETERMINEDThe financial situation of this company is considered to be Indeterminate in absence of accounting elements to assess its results.However, based on available evidence we can state that this is a Mexican company operating since 1963, referred as the largest manufacturer of hand tools in Mexico, committed to manufacture tools with the best combination of quality, price and facilities purchase for each tool users worldwide.On the other hand, its local Suppliers described Subject as good customer, no adverse were found in the consulted databases, no legal and business background against the Subject were found. |
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Property of company comments |
Properties:The company has an own real estate Vehicles:It has a fleet of more than 40 vehicles, without specifying brands and models.Machinery and equipment:It has office equipment in general and specialized industrial equipment.It has the latest computer-based designing and manufacturing technology (CAD-CAM-CNC-PLC) to ensure precision and quality of the best available tools, etc. |
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INSURANCE |
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Insurance Comments |
It was not obtained any information on insurances. |
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(Confidential Information) |
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Note
: Other suppliers did not provide information or could not be consulted |
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CREDIT
HISTORY To date, no negative records were found. |
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LAWSUITS |
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Subject carries out its
financial transactions through the above-mentioned entities, which don't
provide further information pursuant to Bank Secrecy Act. |
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REPUTATION |
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NOTHING AGAINST COMPANY |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.90 |
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1 |
Rs.81.27 |
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Euro |
1 |
Rs.67.98 |
RATING EXPLANATIONS
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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 |
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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.