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Report Date : |
31.10.2012 |
IDENTIFICATION DETAILS
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Name : |
EMPAQUES FLEXA SAS |
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Registered Office : |
Calle 15 N 32-234 Acopi Yumbo |
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Country : |
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Date of Incorporation : |
January 2012 |
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Legal Form : |
Sociedad Por Acciones Simplificada |
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Line of Business : |
Packaging Manufacturer |
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No. of Employees : |
300-350 |
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RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Maximum Credit Limit : |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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 (31.03.2011) |
Current Rating (30.06.2012) |
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Colombia |
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 |
COLOMBIA - ECONOMIC OVERVIEW
Colombia's consistently sound
economic policies and aggressive promotion of free trade agreements in recent
years have bolstered its ability to face external shocks. Real GDP grew 5.7% in
2011 and inflation ended 2011 at 3.7%, continuing almost a decade of strong
economic performance. All three major ratings agencies have upgraded
Colombia''s investment grade. Nevertheless, Colombia depends heavily on oil
exports, making it vulnerable to a drop in oil prices. Economic development is
stymied by inadequate infrastructure, weakened further by recent flooding.
Moreover, the unemployment rate of 10.8% in 2011 is still one of Latin
America''s highest. The SANTOS Administration''s foreign policy has focused on
bolstering Colombia''s commercial ties and boosting investment at home. The
US-Colombia Free Trade Agreement (FTA) was ratified by the US Congress in
October 2011 and is pending implementation in 2012. Columbia has signed or is
negotiating FTAs with a number of other countries, including Canada, Chile,
Mexico, Switzerland, the EU, Venezuela, South Korea, Turkey, Japan, and Israel.
Foreign direct investment - notably in the oil sector - reached a record $10
billion in 2008 but dropped to $7.2 billion in 2009, before beginning to
recover in 2010, and it appears to have reached a record high $13 billion in
2011. Colombia is the third largest Latin American exporter of oil to the US.
Inequality, underemployment, and narcotrafficking remain significant
challenges, and Colombia''s infrastructure requires major improvements to
sustain economic expansion. In late 2010, Colombia experienced its most severe
flooding in decades with damages estimated to exceed $6 billion. The rains
resumed in 2011 causing further damages to crops and infrastructure as well as
killing hundreds of Colombians and displacing millions.
Source : CIA
GEOPOLITICS – COLOMBIA
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Republic
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Currency: 100.00 COP = 0.0546010 USD |
IDENTIFICATION
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Comments on data supplied: |
Please note that the phone number provided in the order (+572 6510550
) currently belongs to Carvajal tecnologia
y servicios (Carvajal SA) The company’s current phone number is the one
mentioned below. |
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Legal Name: |
EMPAQUES FLEXA SAS |
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Legal Address |
Calle 15 N 32-234 Acopi Yumbo Cali,
32-234 Colombia. |
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Operative Address |
Calle 15 N 32-234 Acopi Yumbo Cali,
32-234 Colombia. |
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Telephone: |
+57 2 6440110 |
NIT : |
900483014 - 1 |
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Fax: |
NA |
Legal Form: |
SOCIEDAD POR ACCIONES SIMPLIFICADA |
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Email: |
jorge.escandon@.eflexa.co |
Registered in: |
Colombia |
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Website: |
www.eflexa.co |
Date Created: |
January 2012 |
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Manager: |
Jorge Escandon, General manager |
Date Incorporated: |
NA |
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Staff: |
300-350 |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Packaging manufacturer. |
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BANKS
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Name of the Bank |
Bancolombia |
BUSINESS
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HISTORY |
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The subject started as a non incorporated division of group Carvajal
SA. This company was finally created in January 2012. As of June 15, 2012, Empaques Flexa S.A.S operates as a subsidiary of
Alusa, S.A. Press release: Cali, Colombia, March 12th, 2012. Alusa SA, a Chilean company a subsidiary of Madeco SA and owned by
Grupo Luksic, together with the investment fund Nexus Capital Partners, a
company related to the group of Peru Pastor Rodriguez, acquired 100% stake in
the Colombian company Empaques Flexa SAS which used to belong to group
Carvajal SA , a local group by USD 35 million. |
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PRINCIPAL ACTIVITY |
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The company designs, processes and sells flexible packaging for
consumer products. |
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Sales are: |
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Wholesale |
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Clients: |
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Food, household personal care, pharmaceutical and other non food
industries, among others. |
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Operations area: |
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National, Local |
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The company imports from Worldwide |
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The company exports to South America, Central America and Caribbean
Islands |
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The subject employs 300 to 350 employee(s) |
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Comments on staff: |
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The mentioned estimate was provided during the interview. |
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PAYMENTS |
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made on a 60 days basis - monitored over the last 12 months |
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LOCATION |
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Headquarters |
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This company is headquartered at Calle 15 N 32-234 Acopi Yumbo
Cali, 32-234 Colombia. |
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Branches: |
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No additional branches were reported. |
Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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As mentioned before, the subject is partial subsidiary of ALUSA SA, a
private Chilean company. ALUSA SA An. Pte Eduardo Frei M. 9160 Quilicura Santiago Chile Phone; +56 2 679 32 00 www.alusa.cl This information was confirmed with the staff. |
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Management: |
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Jorge Escandon, General manager Carlos Galindo, Commercial manager Ana Cristina Chavez, Marketing manager Sofi Lorena Quijano, Management secretary |
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Related Companies: |
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The subject has the following sister companies: -Peruplast, Peru Jr. Felipe Santiago Salaverry 227, Urb. El Pino, San Luis, Lima 30
Perú Phone: (511) 630 8800 www.peruplast.com.pe -Aluflex SA suipacha 1067 5to piso B Buenos Aires Argentina. Phone: +5411 5789-0000 www.aluflex.com info@aluflex.com The mentioned information was confirmed with the staff. |
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 Sofi Lorena Quijano, Management secretary who refused
to provide us any financial data on grounds of confidentiality. |
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Comments on the financial data: There was no
recent financial information provided or released to our sources. |
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Legal Filings |
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The sources consulted record no
detrimental legal or labor court information. |
Rating
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Local credit bureau gave a low 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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EMPAQUES FLEXA SAS is a young company operating less than a year ago. The structure serves multiple consumer industries due to the nature of
its business and it has a strong presence in South America and Central
America. There were no legal filings found against the company or its legal
representatives. Based on the general features, the support of its partial parent
company, but considering the fact that the structure is very young still. We recommend working with GUARANTEES. Note: In Absence of Financials we cannot provide
any credit limit. A review within three to six months is recommended to check if the
subject would apply for a higher credit line. |
SUMMARY
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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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APPENDIX
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Person Interviewed |
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Sofi Lorena Quijano, Management secretary |
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Position |
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Management Secretary |
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Comments |
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The person contacted provided us with the following data: Estimate staff number Length of payments to their suppliers Countries where they export from NIT Number Year of creation Management positions Name of its sister companies Name of actual parent company. However, she refused to provide any banking and financial information
on grounds of confidentiality. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.16 |
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1 |
Rs.86.83 |
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Euro |
1 |
Rs.69.85 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.