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Report Date : |
01.09.2012 |
IDENTIFICATION DETAILS
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Name : |
THE WIRE MESH BELT COMPANY OF CANADA LIMITED (WIRE BELT CO LTD) |
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Registered Office : |
170 Summerlea Road, Brampton, Ontario, Canada, L6T 4X3 |
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Country : |
Canada |
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Date of Incorporation : |
1966 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacture and supply of metal conveyor belting and
related products. |
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No. of Employees : |
200 |
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 – March 31st, 2012
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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 |
CANADA - ECONOMIC OVERVIEW
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As an affluent, high-tech industrial society in the trillion-dollar
class, Canada resembles the US in its market-oriented economic system,
pattern of production, and affluent living standards. Since World War II, the
impressive growth of the manufacturing, mining, and service sectors has
transformed the nation from a largely rural economy into one primarily
industrial and urban. The 1989 US-Canada Free Trade Agreement (FTA) and the
1994 North American Free Trade Agreement (NAFTA) (which includes Mexico)
touched off a dramatic increase in trade and economic integration with the US
its principal trading partner. Canada enjoys a substantial trade surplus with
the US, which absorbs about three-fourths of Canadian exports each year.
Canada is the US's largest foreign supplier of energy, including oil, gas,
uranium, and electric power. Given its great natural resources, highly
skilled labor force, and modern capital plant, Canada enjoyed solid economic
growth from 1993 through 2007. Buffeted by the global economiccrisis, the
economy dropped into a sharp recession in the final months of 2008, and
Ottawa posted its first fiscal deficit in 2009 after 12 years of surplus.
Canada''s major banks, however, emerged from the financial crisis of 2008-09
among the strongest in the world, owing to the financial sector''s tradition
of conservative lending practices and strong capitalization. Canada achieved
marginal growth in 2010 and 2011 and plans to balance the budget by 2015. In
addition, the country''s petroleum sector is rapidly becoming an even larger
economic driver with Alberta''s oil sands significantly boosting Canada''s
proven oil reserves, ranking the country third in the world behind Saudi
Arabia and Venezuela. Source : CIA |
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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: |
WIRE BELT CO LTD |
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Address in the order: |
170 Summerlea Road Brampton Ontario L6T 4X3 |
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Legal Name: |
THE WIRE MESH BELT COMPANY OF CANADA LIMITED (WIRE BELT CO
LTD) |
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Legal Address |
170 Summerlea Road, Brampton, Ontario, Canada, L6T 4X3 |
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Operative Address |
170 Summerlea Road, Brampton, Ontario, Canada, L6T 4X3 |
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Telephone: |
905-791-5400 / 888-962-2358 |
ID : |
N.A. |
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Fax: |
905-791-5481 |
Legal Form: |
Limited Company |
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Email: |
sales@wiremeshbelt.com |
Registered in: |
Canada |
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Website: |
www.wiremeshbelt.com |
Date Created: |
1966 |
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Manager: |
Peter Van Noort President
& Board Member |
Date Incorporated: |
N.A. |
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Staff: |
200 |
Stock: |
N.A. |
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Value: |
N.A. |
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Activity: |
Manufacture and supply of metal conveyor belting and
related products. |
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Name of the Bank |
Royal Bank of Canada |
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BUSINESS
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HISTORY |
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THE WIRE MESH BELT COMPANY OF CANADA LIMITED was created
in 1966 |
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PRINCIPAL ACTIVITY |
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Wire Mesh Belt is a company that operates in the
manufacture and supply of metal conveyor belting and related products. The company has ISO 9002 certificate. |
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Products/Services description: |
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The company offers products such as: Baking Industry We manufacture a full line of metal belts for the baking
industry. From baking bands, oven belts, sheeter, transfer and cooling tower
we can supply you with the right metal belt for your baking application. Food Processing A full line of sprocket driven balanced weave belting is
available in carbon and stainless steel for use on transfer and cooling
conveyors. Glass Industry We manufacture a full line of Lehr belts made from 3%
Chrome alloy or stainless steel available in round or flat wire designations.
Shot Blast Custom metal belts woven from manganese wire for use in
shot blast equipment. Heat Treating Custom manufactured and designed chain driven belting to
increase belt life in your quench and washer belts. Veneer Industry Wire Mesh Belt has been a leader in the manufacture and
supply of stainless steel dryer belts for veneer dryers. Sintering/Brazing Full line of high temperature belts made from nickel based
alloys and able to handle temperatures to 2300 F in various atmospheres. |
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Sales are: |
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Wholesale |
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Clients: |
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Due the nature of its business this company has as clients
companies related to the market whete they develop. |
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Suppliers: |
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Hangzhou Ting Yuan Food Co., Ltd. 11th Economic Technological Dev Z Hangzhou Zj China BEKAERT MUKAND WIRE INDUSTRIES PVT LTD B-21,LONAND INDU STRIAL AREA (MIDC),
TALUKA KHANDALA DIST SATARA, MAHARASHTRA, INDIA. POONGSAN CORP. KUK DONG BUILD,CHUNGMURU-3ACHUNG-GU,SEOULKOREA |
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Operations area: |
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National, Local |
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The company imports from Asia and India mainly. |
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The company does not export |
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Trade References: |
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The person contacted refused to provide information about
the trade references. |
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The subject employs 200 employees |
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Comments on staff: |
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We could not confirm the number of employees with the
company. |
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PAYMENTS |
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regular |
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LOCATION |
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Headquarters |
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The company has the headquarters located at: 170 Summerlea Road, Brampton, Ontario, Canada, L6T 4X3 |
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The property is: |
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Owned |
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Branches: |
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The following address would be a branch: Suite 240, 30 Springborough Blvd, Calgary, Alberta T3H 0N9
, Canada. |
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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 WIRE MESH BELT COMPANY OF CANADA LIMITED is a private
company where Mr. Peter Van Noort would be one of the main shareholders. |
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Management: |
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Peter Van Noort, President & Board Member |
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As a private company the subject does not publish any
financial statements. |
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We have contacted Ms. Gayle (administrative) who
refused to provide us any financial data on grounds of confidentiality. |
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Comments on the financial
data: Despite our research we could not get an especific financial information from or about the
company |
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Legal Filings |
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The sources
consulted record no detrimental legal or labor court information. |
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Local credit bureau gave a Correct 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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THE WIRE MESH BELT COMPANY OF CANADA LIMITED also known as
WIRE BELT CO LTD is a private company that operates with about 200 employees,
this company operates in the manufacture and supply of metal conveyor belting
and related products. They import some raw materials from Asia and India
mainly |
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Profitability |
N.A. |
Public |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
NORMAL |
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Person Interviewed |
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Ms. Gayle |
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Position |
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Administrative |
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Comments |
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We have contacted Ms. Gayle who refused to provide us any
information on grounds of confidentiality. We also asked for Jurgen Breibach
who was not at the desk. We left a message indicating the call purpose. |
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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.55.72 |
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1 |
Rs.87.95 |
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Euro |
1 |
Rs.69.65 |
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.