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Report Date : |
19.05.2012 |
IDENTIFICATION DETAILS
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Name : |
GULLCO INTERNATIONAL LIMITED |
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Registered Office : |
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Country : |
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Date of Incorporation : |
14.16.1954 |
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Com. Reg. No.: |
ON-0000073714 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturer of automatic
welding machines, cutting automation, welding products and accessories |
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No. of Employees : |
35 |
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 (31.12.2011) |
Current Rating (31.03.2012) |
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Canada |
A1 |
A1 |
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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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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government:
Federal
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Currency: USD |
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Ordered as: |
GULLCO INTERNATIONAL LIMITED |
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Address in the order: |
1175 Nicholson Road New
Market Ontario L3Y9C3 |
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Legal Name: |
GULLCO INTERNATIONAL LIMITED |
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Legal Address |
1175 Nicholson Road, Newmarket Ontario, L3Y 9C3, Canada |
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Operative Address |
1175 Nicholson Road, Newmarket Ontario, L3Y 9C3, Canada |
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Telephone: |
+1 905 953 4140 |
Registration Number : |
ON-0000073714 |
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Fax: |
+1 905 953 4138 |
Legal Form: |
Limited Liability Company |
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Email: |
sales@gullco.com |
Registered in: |
Ontario |
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Website: |
www.gullco.com |
Date Created: |
1954 |
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Manager: |
Michael Harris, President |
Date Incorporated: |
July 14th 1954 |
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Staff: |
35 |
Stock: |
N.A |
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Value: |
N.A |
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Activity: |
Manufacturer of automatic
welding machines, cutting automation, welding products and accessories |
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Name of the Bank |
RBC Bank |
BUSINESS
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HISTORY |
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Gullco International
Limited was created in 1954 |
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PRINCIPAL ACTIVITY |
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Gullco International is a
world-renowned manufacturer of automatic welding carriages, cutting carriages,
welding automation and accessories. Gullco's weld automation equipment
improves quality and increases welding productivity while reducing cost. |
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Products/Services description: |
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The company has a large list
of products, the following are some of them: Product Applications Sphere Welding Irish Cement Ship Building 1 Twin Arc Seam Tracker
Welding System Ship Building 2 Splice Welding Operation Custom Built Systems Cladding Systems Pipe Cutting Beveling Aluminum Portable Beveller Scottish Shipbuilding |
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Sales are: |
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Wholesale |
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Brands: |
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KAT®, Moggy®, SAM®, KBM®
and KATBAK® are registered trademarks of Gullco Enterprises Limited. |
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Clients: |
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Companies with Electric
Welding needs. |
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Operations area: |
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National, International, Local |
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The company imports from China, Brazil, Argentina, Australia,
Belgium, Bulgaria, Chile, Colombia, UK |
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The subject employs 35
employees |
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PAYMENTS |
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Long |
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LOCATION |
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Headquarters |
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1175 Nicholson Road, Newmarket Ontario, L3Y 9C3, Canada |
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The property is: |
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Owned |
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Listed at the stock
exchange: |
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NO |
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Shareholders Parent Company(ies): |
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The main shareholders of
the subject are: - Michael Harris - Forbes Anderson |
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Management: |
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Mr. Michael Harris,
Chairman, Management Executive Telephone: +1 905 953
4140 Fax: +1 905 953-4138 Email: mharris@gullco.com Mr. Rick Drake, President Telephone: +1 905 953
4140 Fax: +1 905 953 4138 Email: rdrake@gullco.com Mr. Terry Anderson Telephone: +1 905 953
4140 Fax: +1 905 953 4130 Email:
tanderson@gullco.com
Richard Drake, President
& Board Member |
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Related Companies: |
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Gullco International Inc. 21568 Alexander Road,
Cleveland Ohio, 44146 USA Phone: 440-439-8333 Fax: 440-439-3634 Email: ussales@gullco.com Gullco International
(U.K)Limited 5 Stonecrop North Quarry
Business Park Appley Bridge, WN6 9DB
United Kingdom Phone: +44(0) 1257 253579 Fax: +44(0) 1257 254629 Email: sales@gullco.co.uk Company Reg. No. 02600473 Gullco International
India Liaison Office, Kanchanganga,
425/34 T.M.V. Colony. Gultekdi, Pune– 411 037, India Telefax: 020-4272212 Fax: 020-620802 Email:
india.lo@gullco.com |
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Financials -
COMMERCIAL TRENDS AND FORECAST
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As a private company the subject
does not publish any financial statements. |
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We have contacted Ms.
Lill, Jamie, who refused to provide us any financial data on grounds of
confidentiality. |
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However our financial
sources could provide us with the following data. Those figures are
estimates provided by confidential banking and financial institutions working
with the company. |
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Currency |
DATE |
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USD |
2011 |
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Turnover |
10,000,000 |
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The cash flow is |
Normal |
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Currency |
DATE |
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CAD |
2008 |
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Turnover |
6,540,000 |
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Operating Income |
31,000 |
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Net Income |
20,000 |
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Net worth |
400,000 |
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Liabilities |
200,000 |
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The cash flow is |
MEDIUM |
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Legal Fillings |
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The sources consulted record no detrimental legal or labor court
information. |
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Local credit bureau gave
a Normal credit rate. The company is in Good
Standing. This means that all local and federal taxes were paid on due date. |
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Final Opinion |
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GULLCO INTERNATIONAL
LIMITED, has 58 years of experience as manufacturer of automatic welding
machines, cutting automation, welding products and accessories, from their
sole location in Ontario, Canada, where they employ 35 employees, the company
export their product all around the world according with the demand. After our research we did
not find recently negative information or legal record against the company,
however we found a process against the company with the following details: Ottawa, Friday, October
30, 1992 Appeal No. AP-91-216 BETWEEN: GULLCO
INTERNATIONAL LIMITED Appellant AND THE MINISTER OF NATIONAL REVENUE. Appeal No. AP-91-216 However we believe a
credit line could be considered for USD 20,000. |
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Profitability |
N.A. |
Public |
NO |
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Indebtedness |
N.A. |
Payments |
REGULAR |
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Cash |
NORMAL |
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Person Interviewed |
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Ms. Lill, Jamie |
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Position |
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Marketing |
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Comments |
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Mrs. Lill, confimed us
most of the information for this report. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.87 |
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1 |
Rs.86.46 |
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Euro |
1 |
Rs.69.48 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
-- |
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.