|
Report Date : |
04.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
DUFERCO SA |
|
|
|
|
Registered Office : |
Via Bagutti 9, 6900 Lugan |
|
|
|
|
Country : |
Switzerland |
|
|
|
|
Year of Establishment : |
1979 |
|
|
|
|
Com. Reg. No.: |
514.3.002.576-4 / 47756 |
|
|
|
|
Legal Form : |
Company limited by shares |
|
|
|
|
Line of Business : |
Trade brokers |
|
|
|
|
No. of Employees : |
250-399 |
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 : |
Good |
|
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Switzerland |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SWITZERLAND - ECONOMIC OVERVIEW
Switzerland is a peaceful,
prosperous, and modern market economy with low unemployment, a highly skilled labor
force, and a per capita GDP among the highest in the world. Switzerland's
economy benefits from a highly developed service sector, led by financial
services, and a manufacturing industry that specializes in high-technology,
knowledge-based production. Its economic and political stability, transparent
legal system, exceptional infrastructure, efficient capital markets, and low
corporate tax rates also make Switzerland one of the world's most competitive
economies. The Swiss have brought their economic practices largely into
conformity with the EU's, to enhance their international competitiveness, but
some trade protectionism remains, particularly for its small agricultural
sector. The fate of the Swiss economy is tightly linked to that of its neighbors
in the euro zone, which purchases half of all Swiss exports. The global
financial crisis of 2008 and resulting economic downturn in 2009 stalled export
demand and put Switzerland in a recession. The Swiss National Bank (SNB) during
this period effectively implemented a zero-interest rate policy to boost the
economy as well as prevent appreciation of the franc, and Switzerland's economy
recovered in 2010 with 2.7% growth. The sovereign debt crises currently
unfolding in neighboring euro-zone countries pose a significant risk to
Switzerland's financial stability and are driving up demand for the Swiss franc
by investors seeking a safehaven currency. The independent SNB has upheld its
zero-interest rate policy and conducted major market interventions to prevent
further appreciation of the Swiss franc, but parliamentarians have urged it to
do more to weaken the currency. The franc's strength has made Swiss exports
less competitive and weakened the country's growth outlook; GDP growth fell to
2.1% in 2011. Switzerland has also come under increasing pressure from
individual neighboring countries, the EU, the US, and international
institutions to reform its banking secrecy laws. Consequently, the government
agreed to conform to OECD regulations on administrative assistance in tax
matters, including tax evasion. The government has renegotiated its double
taxation agreements with numerous countries, including the US, to incorporate
the OECD standard, and in 2011 it reached deals with Germany and the UK to
resolve outstanding issues, particularly the possibility of imposing taxes on
bank deposits held by foreigners. These steps will have a lasting impact on
Switzerland's long history of bank secrecy.
Source
: CIA
Duferco SA
Via Bagutti 9
6900 Lugano
Switzerland/CH
Telephone: 091
8225600
Fax: 091
8225700
Web site: http://www.duferco.com
E-mail: info@duferco.com
VAT-No.: CHE101355469
Established: 1979
History: 1979: Established from Bruno Bolfo
Line of Business: Trade brokers
Industry Division: Wholesale trade
Industry-code (NACE): 4612 Agents involved in
the sale of fuels, ores, metals and industrial chemicals
Import/Export: Agency
Banks: unknown
Coverage: Company
Figures: approximately
Employees: 250-399
Sales: CHF
2-4 Bil
The company
distributes metal and steel products of Duferco Group.
Information on
property ownership was not available.
Company No: 514.3.002.576-4
/ 47756
Legal form: Company
limited by shares
Registration: 12.08.1982
Legal status: active
Responsible Register: Registro di commercio del Cantone Ticino
Auditor: PricewaterhouseCoopers
SA ( CH-514.9.014.248-1 ), Lugano
History: Date
of Statutes: 26.08.1996
Date
of Incorporation Statutes: 11.08.1982
Date
of Statutes: 01.07.2010
Date
of Statutes: 07.09.2007
Date
of Statutes: 28.08.2007
Date
of Statutes: 30.04.2003
Date
of Statutes: 22.02.2002
Entry Deleted Name
active Duferco
SA
Entry Deleted Legal domicile
active Lugano,
Switzerland
Entry Deleted Address
07.04.1998 Via
Bagutti 9, 6900 Lugano/TI, Switzerland/CH
07.04.1998 Via Cantonale 19, 6900 Lugano/TI,
Switzerland/CH
Entry Deleted Capital
18.09.2007 Share
Capital CHF 2'750'000, paidup CHF 2'750'000
Entry Deleted Capital Structure
02.07.2010 2'750
Registered shares of CHF 1'000.--
18.09.2007 02.07.2010 2'750 Bearer shares of CHF 1'000.--
Entry Deleted Activity (original Language)
31.08.2007 Il
commercio di prodotti di acciaio ed ogni altro prodotto siderurgico cosě pure
di materie prime ed in particolare quelle relative al ciclo siderurgico quali
ad esempio carbone, coke, minerale di ferro, rottami, ferroleghe ed altre,
nonché la commercializzazione di gas ed energia elettrica e altri prodotti
energetici. La societŕ puň concedere a terzi, compresi gli azionisti diretti od
indiretti della societŕ o le societŕ cui questi partecipano, finanziamenti
diretti o indiretti, sia per mezzo di prestiti od altri metodi di
finanziamento, sia per mezzo di garanzie di ogni genere, con o senza
controprestazione. Essa potrŕ inoltre assumere partecipazioni in imprese
commerciali, finanziarie ed industriali ed eseguire tutte le operazioni
commerciali o finanziarie ritenute utili o connesse allo scopo sociale. La
societŕ puň partecipare ad altre imprese in Svizzera e all'estero.
25.02.2002 Il commercio di prodotti di acciaio ed ogni
altro prodotto siderurgico cosě pure di materie prime ed in particolare quelle
relative al ciclo siderurgico quali ad esempio carbone, coke, minerale di
ferro, rottami, ferroleghe ed altre. Potrŕ assumere partecipazioni in imprese
commerciali, finanziarie ed industriali.
25.02.2002 31.08.2007 Il commercio di prodotti di acciaio ed ogni
altro prodotto siderurgico cosě pure di materie prime ed in particolare quelle
relative al ciclo siderurgico quali ad esempio carbone, coke, minerale di
ferro, rottami, ferroleghe ed altre, nonché la commercializzazione di gas ed
energia elettrica e altri prodotti energetici.
Entry Deleted Remarks (original Language)
active Publishing
authority: FUSC.
active Merger:
La societŕ ha assunto, sulla base del contratto di fusione del 26.08.1996, la
"Bolmat SA", in Lugano, giusta l'art. 748 CO. Attivo: CHF 36'777'179.--.
Passivo: CHF 34'102'538.--. Attivo netto: CHF 2'274'641.--. La cessione ha
luogo mediante rimessa agli azionisti di 100 nuove azioni al portatore da CHF
1'000.-- della Duferco SA. Bilancio di fusione: 30.09.1995.
07.05.2003 Merger:
La societŕ ha assunto, sulla base del contratto di fusione del 24.04.2003, la
Duferco Technical Services SA, in Lugano (FUSC no. 66 del 04.04.2001 p.2512),
giusta l'art. 748 CO. Bilancio di fusione: 30.09.2002. Attivo: CHF
1'608'242.--. Passivo: CHF 922'252.--. Attivo netto: CHF 685'990.--. La
cessione ha luogo mediante rimessa agli azionisti di 100 nuove azioni al
portatore da CHF 1'000.-- della Duferco SA.
07.05.2003 Merger:
La societŕ ha assunto, sulla base del contratto di fusione del 24.04.2003, la
D.E. Metals SA, in Lugano (FUSC no. 241 del 12.12.2002 p.13), giusta l'art. 748
CO. Bilancio di fusione: 30.09.2002. Attivo: CHF 811'806.--. Passivo: CHF
74'108.--. Attivo netto: CHF 737'698.--. La cessione ha luogo mediante rimessa
agli azionisti di 200 nuove azioni al portatore da CHF 1'000.-- della Duferco
SA.
Entry Deleted Branches
23.06.2000 10.12.2001 , Delémont/JU, Switzerland/CH
Title Name
President Bruno
Bolfo, Origin: Italy, Address: Lugano/TI, Switzerland, joint signature of two
Chief Executive Antonio
Gozzi, Origin: Italy, Address: Chiavari, Italy, joint signature of two,
Registered since: 05.10.2007
Chief Executive Benedict
John Sciortino, Origin: United States of America, Address: Lugano/TI,
Switzerland, joint signature of two
Executive Director Matthew De Morgan, Origin: United Kingdom,
Address: 6900 Lugano/TI, Switzerland, joint signature of two, Registered since:
05.02.2008
Title Name
Director Stefano
Arancio, Origin: Italy, Address: Berganzona/TI, Switzerland, joint signature of
two
Director Thomas
Patrick, Origin: Langnau im Emmental, Switzerland, Address: Ponte Capriasca,
Switzerland, joint signature of two, Restricted signatory powers, Registered since:
19.09.2005
Director Giuseppe
Venturato, Origin: Lugano, Switzerland, Address: Origlio, Switzerland, joint
signature of two, Restricted signatory powers, Registered since: 07.05.2008
Director Alessandro
Casale, Origin: Italy, Address: Castagnola/TI, Switzerland, joint signature of
two, Restricted signatory powers, Registered since: 07.05.2008
Director Enrico
Toschi, Origin: Italy, Address: Carona, Switzerland, joint signature of two,
Restricted signatory powers, Registered since: 07.05.2008
Director Paolo
Foti, Origin: Italy, Address: Lugano/TI, Switzerland, joint signature of two
Title Name
Chief Executive Officer Matthew De Morgan
Chief Financial Officer Benedict John Sciortino
Chief Administration Officer Paolo Foti
Name: DUFERCO
PARTICIPATIONS HOLDING S.A.
City/Country: Luxembourg,
Luxembourg/LU
No. of Owner/-s: 1
Owner: The
company is foreign owned.
Class: 100%
Name: DUFERCO
INTERNATIONAL TRADING HOLDING S.A.
City/Country: Luxembourg,
Luxembourg/LU
Interest: 100.00%
voting right, 100.00% capital interest
Name: CSCD
Ltd
City/Country: Limassol,
Cyprus/CY
Name: Duferco
Commerciale S.p.A.
City/Country: Genova,
Italy/IT
Name: DUFERCO
DANISH STEEL A/S
City/Country: Frederiksvćrk,
Denmark/DK
Name: Duferco
Deutschland GmbH
City/Country: Ratingen,
Germany/DE
Name: Duferco
Espana S.L.
City/Country: Barcelona,
Spain/ES
Name: DUFERCO
SPECIAL STEELS (EUROPE)
City/Country: Brussel,
Belgium/BE
Name: Duferco
Steel Inc.
City/Country: Wilmington,
United States of America/US
Name: DUFERCO
UK LIMITED
City/Country: Bromsgrove,
United Kingdom/GB
Class: 100%
Name: Duferco
C.E.C. SA
City/Country: Lugano,
Switzerland/CH
Interest: 100.00%
voting right, 100.00% capital interest
Class: 100%
Name: Duferco
Investment Services SA
City/Country: Lugano,
Switzerland/CH
Interest: 100.00%
voting right, 100.00% capital interest
Class: 100%
Name: Duferco
Shipping SA
City/Country: Lugano,
Switzerland/CH
Interest: 100.00%
voting right, 100.00% capital interest
Control date Year No. Amount CHF Status
07.01.2011 2011 0
07.01.2011 2010 1 2'899'766.-- Opposition filed
07.01.2011 2009 0
07.01.2011 2008 0
07.01.2011 2007 0
07.01.2011 2006 0
07.01.2011 2005 0
07.01.2011 2004 0
07.01.2011 2003 0
07.01.2011 2002 0
07.01.2011 2001 0
An updated legal
action check is only available against proof of interest. e.g. a copy of an
enquiry letter, and order or invoice relating to the subject company.
Financial Statements: The company does not disclose any financial statements. Third
parties are not permitted any insight into the financial affairs. It is
therefore difficult to make a proper assessment of the actual situation.
Financial Situation: The financial situation is considered to be good.
Payment experiences: Payment habits are considered good.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.45 |
|
|
1 |
Rs.87.98 |
|
Euro |
1 |
Rs.69.69 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.