MIRA INFORM REPORT

 

 

Report Date :

08.10.2012

 

IDENTIFICATION DETAILS

 

Name :

SALTILLO LAMINATION S.A. DE C.V.

 

 

Registered Office :

Carretera Federal Saltillo-Monterrey 25900

 

 

Country :

Mexico

 

 

Date of Incorporation :

20.05.2002

 

 

Legal Form :

Stock Company of Variable Capital

 

 

Line of Business :

The Company laminates (sticks) fabrics/vinyl with foam (polyurethane) through flame

 

 

No. of Employees :

Not Available

 

 

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

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Mexico

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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

Source : CIA

IDENTIFICATION

 

CORRECT COMPANY NAME

SALTILLO LAMINATION S.A. DE C.V.

TRADE NAME

SALTILLO LAMINATION

TAXPAYER REGISTRATION

RFC SLA020520GZ6

MAIN ADDRESS

Carretera Federal Saltillo-Monterrey

POSTAL CODE

25900

PROVINCE / DEPARTAMENT

Ramos Arizpe

STATE / REGION

Coahuila

COUNTRY

MEXICO

TELEPHONE

(52) 8662000

E-MAIL

carlos-valdes@wodbridgegroup.com

WEB

www.wodbridgegroup.com

COMMENTS

 
This report was ordered under the name WOODBRIDGE FOAM CORP. OBO.
Be advised the correct name of the Company is SALTILLO LAMINATION S.A. DE C.V.

 

SUMMARY

Date of foundation

2002

Capital stock

No specified

Chief Executive

LEAŃOS FLORES, CLAUDIA LAURA

Disposition

Poor.- Only general information without figures.

Payments policy

Usually to terms/good

Credit (**)

Risk is Moderate. Within Average. Lightly Fair Situation.

 

 

LEGAL BACKGROUNDS

 

LEGAL STATUS

Stock Company of Variable Capital

DATE OF INCORPORATION

20MAY2002

PLACE OF REGISTRY

Ramos Arizpe, Coahuila

DURATION

99 years

CURRENT PAID-IN CAPITAL

No specified

LISTED AT STOCK EXCHANGE

No

CURRENT EXCHANGE RATE (US$)

Ps$.12.81 per USD.1.00

MEMBERSHIP

Cámara de Comercio de Canadá en México A.C. - CANCHANMX

COMMENTS

 
Personal information of the executives was not disclosed under confidentiality; found out all of them are Mexicans.

 

DIRECTORS - EXECUTIVES – SHAREHOLDERS

 

FULL NAMES / COMPANY NAME

TITLE

%PART.

SINCE

LEAŃOS FLORES, CLAUDIA LAURA

Plant Manager

 

 

VALDES VALDES, CARLOS

Controller

 

 

ALVARADO GONZÁLEZ, JOSÉ ANTIOCO

Human Res.Administrator

 

 

 

 

BUSINESS HISTORY

 

SALTILLO LAMINATION S.A. DE C.V. was founded on May 20, 2002 in the city of Ramos Arizpe, Coahuila, having not changed since then its legal status.
 
The Company is a subsidiary of WOODBRIDGE GROUP which provides urethane and innovative technologies and  foam beads to serve the automotive industry and several business sectors worldwide. Since the beginnings in 1978, Woodbridge Group has grown to more than 60 facilities throughout North and South America, Europe and Asia Pacific. In addition to the basic manufacturing operations.
Woodbridge offers a full range of services including: chemical research and product development and engineering processes, tools, technical support and accredited laboratory tests.
The company offers five functions to offer comfort, acoustics, structural safety and insulation capacity.  It also provides automotive components including: seat cushions and frames, headrests, armrests, the headliners, soundproofing, cargo systems and safety components; assembly and sequencing and just-in-time delivery services.
It also offers a growing list of diverse sectors including commercial and recreational transport, building products, construction, packaging and various other industrial specialties and consumer products. 
 
Other subsidiaries include:

 

 

RELATED COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER

 

COMPANY NAME

COUNTRY

RELATION %

ACCULAB INC.

U.S.A.

 

Related

I.W. FOAM CORPORATION

JAPAN

 

Related

I.W. FOAM KYUSHU

JAPAN

 

Related

IWCT CO. LTD.

THAILAND

 

Related

JP FOAM MANUFACTURING Z.O.O.

POLAND

 

Related

OLYMPIC PRODUCTS L.L.C.

U.S.A.

 

Related

POLIURETANOS SW S.A. DE C.V.

MEXICO

 

Related

PROSEAT FOAM MANUFACTURING, S.L

SPAIN

 

Related

SALTILLO INTERIOR TRIM S.A. DE C.V.

MEXICO

 

Related

 

 

BUSINESS

 

Main activity

 
The Company laminates (sticks) fabrics/vinyl with foam (polyurethane) through flame.

Import

Yes

Country

Italy and India; direct credit

Export

No

% Credit SALES / Terms

100% at 30 days

% DOMESTIC PURCHASES

80%

% FOREIGN PURCHASES

20%

SELLING TerritorY

Mexican market - 100%

LOCATION

OTHER PREMISES

 
Headquarters, warehouse and production plant operate at the above address.  Facilities are located at industrial area of the city.
No other premises were found.

Comments

 
Main Clients:
- INOAC
- IACNA
- IRVIN-JAROPAMEX
 
The Company has 95 direct workers and 76 outsourced workers.

 

According to Customs the Company was registered on August 15, 2002 in the Registry of Importers under Page 206527.

 

FINANCIAL INFORMATION

 

Interviewee(s)

Carlos Valdés Valdés

Position(s)

Controller

Disposition

Poor.- Only general information without figures.

Information provided

 
Carlos Valdés Valdés (Controler) supplied the information contained in this report, except for the financials under confidentiality.
Other sources were consulted but no balance sheets or estimated accounting figures could be obtained.

 

 

SALES

US$ 0.00 ()

FINANCIAL SITUATION

 
NN: UNDETERMINED
Financial situation is deemed to be indeterminate since no accounting elements were available to assess this Company current result.

Property of company comments

 
They include:
 
- Office furniture and fixtures
- Computers
- Vehicles

 

 

 

 

 

INSURANCE

COMPANY

AGAINST

EXPIRATION

AMOUNT

SEGUROS ATLAS S.A. DE C.V.

 

 

 

 

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS


(Confidential Information)

TRADE REFERENCES

Supplier: TRANSPORTES RAMOS ARIZPE S.A. DE C.V.

Tel.: (844) 4881701

Country: MEXICO

Goods/Services? : Transport services

 

 

Highest credit? : No specified

 

 

Client since? : Sv.years

Terms? : 30 days

Performance? : Prompt

Comments : Monthly average: Ps$.700,000 Pesos

Supplier: ORBE DE NEGOCIOS Y RECURSOS ESTRATÉGICOS S.A.

Tel.: (844) 4390114

Country: MEXICO

Goods/Services? : Outsourcing services

 

 

Highest credit? : No specified

 

 

Client since? : Sv.years

Terms? : 30 days

Performance? : Prompt

 

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

 

Supplier

Country

Comment

LEYVA CONSULTORES S.C.

MEXICO

 

MAYUR UNIQUOTERS LIMITED

INDIA

 

VULCAFLEX SPA

ITALY

 

 

BANKERS

BANCO MERCANTIL DEL NORTE S.A.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.61

UK Pound

1

Rs.83.57

Euro

1

Rs.67.17

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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.