MIRA
INFORM REPORT
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Report Date : |
29.11.2012 |
IDENTIFICATION DETAILS
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Name : |
RIDE CONTROL MEXICANA S. DE R.L. DE C.V. |
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Registered Office : |
El Tepeyac No. 110, Col. Parque Industrial El Tepeyac, , 76250, Municipio El Marques, Querétaro |
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Country : |
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Date of Incorporation : |
13.07.2009 |
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Legal Form : |
Limited Liability Partnership of Variable Capital |
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Line of Business : |
design,
development, manufacture and distribution of shock absorbers, struts and
exhaust systems, mufflers and catalytic converters for Cars, Vans and Light
Trucks |
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No. of Employees : |
1,100 approximately |
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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
mexico - ECONOMIC OVERVIEW
Mexico has a
free market economy in the trillion dollar class. It contains a mixture of
modern and outmoded industry and agriculture, increasingly dominated by the
private sector. Recent administrations have expanded competition in seaports,
railroads, telecommunications, electricity generation, natural gas
distribution, and airports. Per capita income is roughly one-third that of the
US; income distribution remains highly unequal. Since the implementation of the
North American Free Trade Agreement (NAFTA) in 1994, Mexico's share of US
imports has increased from 7% to 12%, and its share of Canadian imports has
doubled to 5%. Mexico has free trade agreements with over 50 countries
including Guatemala, Honduras, El Salvador, the European Free Trade Area, and
Japan - putting more than 90% of trade under free trade agreements. In 2007,
during its first year in office, the Felipe CALDERON administration was able to
garner support from the opposition to successfully pass pension and fiscal
reforms. The administration passed an energy reform measure in 2008 and another
fiscal reform in 2009. Mexico''s GDP plunged 6.2% in 2009 as world demand for
exports dropped, asset prices tumbled, and remittances and investment declined.
GDP posted positive growth of 5.4% in 2010 and 3.8% in 2011, with exports -
particularly to the United States - leading the way. The administration
continues to face many economic challenges, including improving the public
education system, upgrading infrastructure, modernizing labor laws, and
fostering private investment in the energy sector. CALDERON has stated that his
top economic priorities remain reducing poverty and creating jobs.
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Source : CIA |
IDENTIFICATION
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CORRECT COMPANY NAME |
RIDE CONTROL
MEXICANA S. DE R.L. DE C.V. |
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TRADE NAME |
RIDE CONTROL
MEXICANA |
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TAXPAYER REGISTRATION |
RFC REM090713KU8 |
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MAIN ADDRESS |
El Tepeyac No. 110, Col. Parque Industrial
El Tepeyac, |
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POSTAL CODE |
76250 |
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PROVINCE / DEPARTAMENT |
Municipio El Marques |
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STATE / REGION |
Querétaro |
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COUNTRY |
MEXICO |
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TELEPHONE |
(52442) 2781200 - 2775225 - 2775137 -
2781279 |
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E-MAIL |
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WEB |
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COMMENTS |
Toll free number: 01-800-12-27-846 |
SUMMARY
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Date of foundation |
2009 |
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permanent employees |
1,100 approximately |
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Chief Executive |
BAKER, SCOTT |
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Disposition |
Report totally prepared by outside
sources. |
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Payments policy |
Usually to terms/good |
LEGAL BACKGROUNDS
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LEGAL STATUS |
Limited Liability Partnership of Variable
Capital |
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DATE OF INCORPORATION |
13JUL2009 |
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PLACE OF REGISTRY |
Querétaro, Querétaro |
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DURATION |
99 years |
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LISTED AT STOCK EXCHANGE |
No |
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CURRENT EXCHANGE RATE (US$) |
$13.01 x 1 US$1 |
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COMMENTS |
There was not more information about this
company incorporation. Personal information of the executives was
not disclosed because of confidentiality policy. Shareholders structure was not specified
either. |
DIRECTORS
EXECUTIVES –
SHAREHOLDERS
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WHO IS WHO?
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BAKER, SCOTT |
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NATIONALITY |
American |
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VENEGAS, LUIS |
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NATIONALITY |
Mexican |
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PROFESSION |
University graduate |
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NEIRA, MANUEL |
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NATIONALITY |
Mexican |
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PROFESSION |
University graduate |
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REYNA, SERGIO |
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NATIONALITY |
Mexican |
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PROFESSION |
University graduate |
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DELGADO, SERGIO |
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NATIONALITY |
Mexican |
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PROFESSION |
University graduate |
BUSINESS HISTORY
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The company was born after absorbing the
company ArvinMeritor in 2009, was founded under the name of Ride Control
Mexicana, to engage in manufacturing auto parts of GRC brand. Since the beginning of its operations, the
firm has the capability to ship nearly nine million pieces a year to other
countries, ie between 600 and 700 orders per day and only for the segment of
shock absorbers, the installed capacity of Ride Control Mexicana is 17
million units annually. Ride Control Mexicana has invested in our
country nearly $ 30 million dollars in the past two years, with the aim of
expanding its three plants in Queretaro, and thus conquer the national and
international market with its new line of shock absorbers, struts, mufflers
and catalytic converters under GRC brand. The subject is a company member of
"Ride Control LLC" its U.S. parent company, comprising the brands
"The Original of Gabriel" (U.S. and Canada) and GRC ® (Mexico),
generating over U.S. $ 200 million in sales and more than 1,400 employees in
the U.S., Canada and Mexico. Maintain engineering, manufacturing, warehouse,
sales and management of offices throughout North America, including Troy,
Michigan, Chickasha, Oklahoma, Brentwood, Tennessee, and Queretaro, Mexico. |
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BUSINESS
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Main activity |
Company is engaged in the design,
development, manufacture and distribution of shock absorbers, struts and
exhaust systems, mufflers and catalytic converters for Cars, Vans and Light
Trucks Max ControlT UltraT ProGuardT GuardianT LTVT HiJackersT Special Products and Accessories Heavy Equipment / Commercial GasSLXT FleetLineT Special lines Industrial Applications Sports |
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Import |
Yes |
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Country |
Spain, Italy, etc.., Through direct credit
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Export |
Yes |
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COUNTRY |
The countries were not specified. |
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% Credit SALES / Terms |
100% (terms: 30 days) |
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% Ventas exterior (Paises) |
35% |
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% DOMESTIC PURCHASES |
70% |
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% FOREIGN PURCHASES |
30% |
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SELLING TerritorY |
65% (National sales) |
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EMPLOYEES |
1,100 approximately |
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Comments |
The office hours of the company office are
Monday through Friday from 07:00 am. to 16:00 pm. CLIENTS: The company serves manufacturers
of cars, trucks, snowmobiles, buses and even the military and OEM
manufacturers. |
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FINANCIAL INFORMATION
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Interviewee(s) |
Outside sources |
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Disposition |
Report totally prepared by outside
sources. |
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Information provided |
All information contained in this report
was obtained from the consultation of various external information sources
because directly Mr. Luis Venegas (Financial Manager) declined to answer any
type of information about the company as it is considered of confidential
character. |
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SALES |
US$ 0.00 () |
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FINANCIAL SITUATION |
UNDETERMINED Subject's Financial Position is considered
UNDETERMINED, since there are no financial figures allowing a financial
analysis of the results in its last fiscal year. |
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Property of company comments |
Fixed assets consists of: -Transportation Equipment -Furniture and Office Equipment -Machinery and Equipment -Computer Equipment |
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INSURANCE |
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TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS
(Confidential Information)
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TRADE REFERENCES |
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Note : Other
suppliers did not provide information or could not be consulted |
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BANKERS Banking is with: Banco Nacional de México S.A. |
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GENERAL INFORMATION
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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.55.70 |
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UK Pound |
1 |
Rs.89.34 |
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Euro |
1 |
Rs.72.35 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.