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Report Date : |
01.09.2012 |
IDENTIFICATION DETAILS
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Name : |
ALEXANDRIA CARBON BLACK CO SAE |
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Registered Office : |
Suez Canal Tower,
26th Floor, Apartment No. 2, 4 Ibn Khatir Street, Giza, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
January 1993 |
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Com. Reg. No.: |
134021 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacturers of carbon black and carbon based materials and products |
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No. of Employees : |
350 employees |
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 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Egypt |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EGYPT - ECONOMIC OVERVIEW
Occupying the northeast corner of the African continent, Egypt is bisected by the highly fertile Nile valley, where most economic activity takes place. Egypt's economy was highly centralized during the rule of former President Gamal Abdel NASSER but opened up considerably under former Presidents Anwar EL-SADAT and Mohamed Hosni MUBARAK. Cairo from 2004 to 2008 aggressively pursued economic reforms to attract foreign investment and facilitate GDP growth. Despite the relatively high levels of economic growth in recent years, living conditions for the average Egyptian remained poor and contributed to public discontent. After unrest erupted in January 2011, the Egyptian Government drastically increased social spending to address public dissatisfaction, but political uncertainty at the same time caused economic growth to slow significantly, reducing the government's revenues. Tourism, manufacturing, and construction are among the hardest hit sectors of the Egyptian economy, and economic growth is likely to remain slow at least through 2012. The government is utilizing foreign exchange reserves to support the Egyptian pound and Egypt may seek a loan from the International Monetary Fund.
|
Source
: CIA |
Company Name : ALEXANDRIA CARBON BLACK CO SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : January 1993
Commercial Registration Number : 134021
Issued Capital : £E 99,500,000
Paid up Capital : £E 99,500,000
Total Workforce : 350
Activities : Manufacturers of carbon black and carbon based materials and
products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
ALEXANDRIA CARBON BLACK
CO SAE
Registered &
Physical Address
Building : Suez Canal Tower, 26th
Floor, Apartment No. 2
Street : 4 Ibn
Khatir Street
Area : Giza
Town : Cairo
Country : Egypt
Telephone : (20-2) 33373870 / 33377975 / 33490078
Facsimile : (20-2) 37609174
Email : adm@acbc.com.eg
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Office (s)
Location Description
·
Nahda Road Owned
factory premises covering an
Amreya area
of 170,000 square metres
Alexandria 23511
Tel: (20-3) 4770102 / 4770107
Fax: (20-3) 4770110
Name Position
·
Mohamed
Adel Ahmed El Danaf Chairman
·
Ali Hussain Al Shareef Director
·
Adel El
Danaf Director
·
Pat Naik General
Manager
·
Dalia Abdel Moneim Human
Resources Manager
·
Atef El Ashy Research
& Development Manager
·
S N Agrawal Finance
Manager
·
Parneet Nagwikar Purchasing
Manager
·
Bipul Sinha Technical
Manager
·
Tapan Paul Export
Manager
·
Aynas Al Adwai Public
Relations Manager
Date of Establishment : January 1993
Legal Form :
Egyptian Joint Stock
Company
Commercial Reg. No. : 134021
Issued Capital : £E 99,500,000
Paid up Capital : £E 99,500,000
Name of Shareholder
(s) Percentage
·
Aditya Birla Group 67.53%
Industry House, 1st Floor
159 Churchgate
Reclamation
Mumbai 400020
India
Tel: (91-22) 2835382
Fax: (91-22) 2832020
·
SKI
Investment 15.50%
Singapore
·
Saudi
Egyptian for Industrial Investments 8.00%
Saudi Arabia
·
Holding
for Engineering Industries 4.97%
Egypt
·
Nasr Coke &
Base Chemicals 4.00%
16 Sherif Street
Cairo
Tel: (20-2) 33924189 / 33921731
Fax: (20-2) 33933790
Activities: Engaged in the manufacture of carbon black
and carbon based materials and products.
Subject’s manufacturing plant went on stream in 1994 with the technical participation
of Continental Carbon Black of the US. Production capacity was originally
20,000 tonnes which has now increased to 285,000 tonnes.
Subject was awarded the ISO 9002 Certificate in 1995.
Production
Capacity: 200,000 tonnes per annum
Clients:
·
Malaya
Group of Companies India
·
Goodyear
Tyres United
States of America
·
Bridgestone Japan
·
Pirelli Italy
·
Dunlop Tyres United
States of America
Import
Countries: United States of
America, Saudi Arabia and India
International
Suppliers:
·
B&A
Multiwall Packaging Ltd India
Export
Countries: Subject exports
approximately 90 percent of its total production to over 50 countries around
the world, particularly the United States of America, the United Kingdom,
France, Italy, Spain, Japan, India and Lebanon
Operating Trend: Steady
Subject has a
workforce of approximately 350 employees.
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pounds (£E)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales £E 186,000,000 £E 189,500,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
National
Bank of Egypt
24 Sherif Street
Cairo
Tel: (20-2) 33924175
Fax: (20-2) 33924143
·
Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box: 2430
Cairo
Tel: (20-2) 35703043
Fax: (20-2) 35703172 / 35072691
No complaints
regarding subject’s payments have been reported.
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Canadian
Dollars
Alexandria Carbon Black
Co SAE was established in 1992 and is engaged in the manufacture of carbon
black and carbon based materials and products. It is the fastest growing carbon
black company in the world, exporting its products to over 50 countries.
The company deals with a number of leading international organisations with payment obligations reportedly met in a timely manner. The financial position is considered to be good and the company is deemed to be trustworthy for respecting its financial trade commitments.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.72 |
|
UK Pound |
1 |
Rs.87.95 |
|
Euro |
1 |
Rs.69.66 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.