MIRA INFORM REPORT

 

 

Report Date :

18.04.2013

 

IDENTIFICATION DETAILS

 

Name :

MERITOR DO BRASIL SISTEMAS AUTOMOTIVOS LTDA.

 

 

Registered Office :

Rua Nathanael Tito Salmon,409 - Centro , Zip Code 06.016-075 - Osasco/Sp

 

 

Country :

Brazil

 

 

Date of Incorporation :

27.12.1955

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacturer of parts and accessories for motor vehicles

 

 

No. of Employees :

1100 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

 

Status :

Good

 

 

Payment Behaviour :

Regular 

 

 

Litigation :

Exists

 

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)

Brazil

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Brazil ECONOMIC OVERVIEW

 

Characterized by large and well-developed agricultural, mining, manufacturing, and service sectors, Brazil's economy outweighs that of all other South American countries, and Brazil is expanding its presence in world markets. Since 2003, Brazil has steadily improved its macroeconomic stability, building up foreign reserves, and reducing its debt profile by shifting its debt burden toward real denominated and domestically held instruments. In 2008, Brazil became a net external creditor and two ratings agencies awarded investment grade status to its debt. After strong growth in 2007 and 2008, the onset of the global financial crisis hit Brazil in 2008. Brazil experienced two quarters of recession, as global demand for Brazil's commodity-based exports dwindled and external credit dried up. However, Brazil was one of the first emerging markets to begin a recovery. In 2010, consumer and investor confidence revived and GDP growth reached 7.5%, the highest growth rate in the past 25 years. Rising inflation led the authorities to take measures to cool the economy; these actions and the deteriorating international economic situation slowed growth to 2.7% in 2011, and 1.5% in 2012. Despite slower growth, in 2011 Brazil overtook the United Kingdom as the world's seventh largest economy in terms of GDP. Unemployment is at historic lows and Brazil's traditionally high level of income inequality has declined for each of the last 14 years. Brazil's historically high interest rates have made it an attractive destination for foreign investors. Large capital inflows over the past several years have contributed to the appreciation of the currency, hurting the competitiveness of Brazilian manufacturing and leading the government to intervene in foreign exchange markets and raise taxes on some foreign capital inflows. President Dilma ROUSSEFF has retained the previous administration's commitment to inflation targeting by the central bank, a floating exchange rate, and fiscal restraint. In an effort to boost growth, in 2012 the administration implemented asomewhat more expansionary monetary policy that has failed to stimulate much growth.

Source : CIA

Company name

 

MERITOR DO BRASIL SISTEMAS AUTOMOTIVOS LTDA.

 

 

Company ADDRESSES

 

MAIN ADDRESS:

RUA NATHANAEL TITO SALMON,409 - CENTRO

ZIP CODE/CITY:

06.016-075 - OSASCO/SP

 

 

PHONE:

11 3684-6588

FAX:

11 3684-6588

E-MAIL:

antonio.vaz@meritor.com

WEB SITE:

www.meritor.com

 

BRANCHES:

 

 

 

ADDRESS:

AVENIDA JOÃO BATISTA,825 - CENTRO

ZIP CODE/CITY:

06097-105 OSASCO/SP

STATE REGISTER:

492.001.261.119

 

 

ADDRESS:

RUA ESTER ROMBENSO,403 - CENTRO

ZIP CODE/CITY:

06097-120 OSASCO/SP

PHONE:

11 3684-6931

CNPJ:

56.669.187/0011-47

STATE REGISTER:

492.458.225.119

 

 

ADDRESS:

RUA ENGENHEIRO ALAN DA COSTA BATISTA,100 MODULO - BAIRRO PEDRA SELADA

ZIP CODE/CITY:

27512-230 RESENDE/RJ

CNPJ:

56.669.187/0017-32

STATE REGISTER:

85.942.204

 

 

ADDRESS:

AVENIDA JOÃO BATISTA,830 - CENTRO

ZIP CODE/CITY:

06097-095 OSASCO/SP

CNPJ:

56.669.187/0012-28

STATE REGISTER:

492.365.928.118

 

 

ADDRESS:

AVENIDA JOÃO BATISTA,826 - CENTRO

ZIP CODE/CITY:

06097-095 OSASCO/SP

CNPJ:

56.669.187/0020-38

STATE REGISTER:

492.477.248.117

 

 

LEGAL DATA

 

MAIN ACTIVITIES:

 

MANUFACTURE OF PARTS AND ACCESSORIES FOR MOTOR VEHICLES

 

LEGAL FORM:

LIMITED LIABILITY COMPANY

 

 

INCORPORATION DATE:

27/12/1955

REGISTER DATE:

27/12/1955

BALANCE SHEET FILING DATE:

31/12

TAX CONTRIBUTOR NUMBER(CNPJ):

56.669.187/0001-75

STATE REGISTER:

417.120.754.110

 

 

SHARE CAPITAL:

R$ 231.763.539,00

LAST REGISTER OF CAPITAL:

05/10/2010

 

BOARD OF DIRECTORS:

 

 

 

ANGELO ANTONIO MORINO

DIRECTOR

SILVIO NOGUEIRA DE BARROS

DIRECTOR

JOSE MANOEL BERNARDES

DIRECTOR

TANIA MARA FERREIRA

ATTORNEY

 

 

AUTHORIZED USE OF SIGNATURE

 

THE DIRECTORS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY.

 

SHAREHOLDERS / PARTNERS:

 

 

 

MERITOR BRAZIL HOLDING, LLC

R$ 231.763.538,00

ARVIN FINANCE, LLC. (U.S.A.)

R$ 1,00

 

AFFILIATES / SUBSIDIARIES:

 

A SCAN THROUGH OUTSIDE SOURCES SHOWED THE SUBJECT AND/OR DIRECTORS HAS THE FOLLOWING UNCONFIRMED HOLDINGS:

 

 

 ALIMENTOS PREMIUM DO BRASIL LTDA.

 

 NEU EMPREENDIMENTOS E PARCIPACOES LTDA - ME

 

 SUSPENSYS SISTEMAS AUTOMOTIVOS LTDA

 

 DE LUXE INTIME CONFECCOES LTDA - ME

 

 MASTER SISTEMAS AUTOMOTIVOS LTDA

 

 

 

COMPANY'S BACKGROUND

 

THE SUBJECT WAS ESTABLISHED ON, DECEMBER 27, 1955 AS ARVIN SISTEMAS DE EXAUSTÃO LTDA TO BE ENGAGED IN THE SAID LINE OF BUSINESS.  ON JULY 07, 1978 IT ALTERED TO ARVIN EXHAUST DO BRASIL LTDA. ON AUGUST 30, 2003 IT ALTERED TO ARVINMERITOR DO BRASIL SISTEMAS AUTOMOTIVOS LTDA. LATER IT ADOPTED THE ABOVE MENTIONED NAME AND UP TO DATE IT IS STILL OPERATING WITHIN THE GENERAL SCENE REPORTED HEREIN.

 

IN AUGUST 2003 THE SUBJECT TOOK OVER THE COMPANY MERITOR DO BRASIL LTDA., CNPJ: 61.080.396/0001-19.

 

PARTNERS AND DIRECTORS:

 

MERITOR BRAZIL HOLDING, LLC: HEADQUARTERED AT 2135 WEST MAPLE ROAD TROY, STATE MICHAGAN, 48084 UNITED STATES, REPRESENTED BY ITS ATTORNEY, TANIA MARA FERREIRA, BRAZILIAN, HOLDER OF DOCUMENTS CPF 520.124.338-04 AND RG 4.291.152, RESIDENTIAL ADDRESS AT AVENIDA BRIGADEIRO FARIA LIMA, 3729, 2º ANDAR, ITAIM BIBI, ZIP CODE 04538-905, SÃO PAULO/SP;

 

ARVIN FINANCE, LLC. (U.S.A.): HEADQUARTERED AT 2135 WEST MAPLE ROAD TROY, STATE MICHAGAN, 48084 UNITED STATES, REPRESENTED BY ITS ATTORNEY, TANIA MARA FERREIRA, BRAZILIAN, HOLDER OF DOCUMENTS CPF 520.124.338-04 AND RG 4.291.152, RESIDENTIAL ADDRESS AT AVENIDA BRIGADEIRO FARIA LIMA, 3729, 2º ANDAR, ITAIM BIBI, ZIP CODE 04538-905, SÃO PAULO/SP;

 

JOSE MANOEL BERNARDES: BRAZILIAN, HOLDER OF DOCUMENTS CPF 970.728.188-04 AND RG 7.572.473 SP, RESIDENTIAL ADDRESS AT AVENIDA ANTONIO DE SOUZA NOSCHESE, 2225, PARQUE CONTINENTAL, ZIP CODE 05328-000, SÃO PAULO/SP;

 

SILVIO NOGUEIRA DE BARROS: BRAZILIAN, HOLDER OF DOCUMENTS CPF 481.110.748-91 AND RG 6.406.447,. SP, RESIDENTIAL ADDRESS AT RUA FRANCISCA JULIA, 229, APTO 132, ZIP CODE 02403-010, SÃO PAULO/SP;

 

ANGELO ANTONIO MORINO: BRAZILIAN, HOLDER OF DOCUMENTS CPF 007.795.738-54 AND RG 5.812.851 SP, RESIDENTIAL ADDRESS AT ALAMEDA SUÉCIA, 276, ZIP CODE 06474-230, BARUERI/SP.

 

ON AUGUST 11, 2009 THE COMPANY UNDERWENT A PARTIAL SPLIT OFF WITH THE TRANSFERENCE OF THE SPUN-OFF PART TO MERITOR COMERCIO E INDUSTRIA DE SISTEMAS AUTOMOTIVOS LTDA NIRE 35222396392.

 

ON OCTOBER 05, 2010 THE COMPANY UNDERWENT A PARTIAL SPLIT OFF WITH THE TRANSFERENCE OF THE SPUN-OFF PART TO ARVINMERITOS DO BRASIL COMERCIO DE SISTEMAS DE PORTAS LTDA.

 

FURTHER DETAILS ARE SO FAR NOT KNOWN.

 

REMARKS:

--------

 

WHEN CONTACTING THE SUBJECT WE INTERVIEWED MS. ANTONIO, FINANCIAL DEPARTMENT, WHO INFORMED THAT WOULD NOT DISCLOSE ANY KIND OF INFORMATION UNLESS THE INQUIRING PARTY'S NAME WAS DISCLOSED.

 

IF IT IS POSSIBLE TO DISCLOSE THE NAME OF THE INTERESTED SUPPLIER OF THE SUBJECT, WE MAY RESUME OUR CONTACTS AND TRY TO OBTAIN FURTHER INFORMATION.

 

THE DATA CONTAINED HEREIN WERE OBTAINED FROM OUTSIDE SOURCES, OUR DATABASE AND OFFICIAL. NO FURTHER DATA WAS AVAILABLE WITH SEVERAL SOURCES USUALLY INVESTIGATED.

 

PUBLIC INFORMATION:

 

PROTESTS:

 

 2 PROTEST,TOTAL AMOUNT R$ 17.364,80

 

DETAILS OF LATEST PROTESTS:

 

NOTARY OFFICE:

DATE:

VALUE:

1º CARTORIO DE OSASCO/SP

01/04/2013

R$ 516,00

1º CARTORIO DE OSASCO/SP

07/12/2012

R$ 16.848,80

 

LAWSUITS:

 

 

 

DATE:

COURT OF LAW:

 

1

FEDERAL LAWSUIT

10/05/10

1º VARA DE CAMBUÍ/MG

 

 

FINANCIAL INFORMATION

 

DUE TO THE SUBJECT'S LEGAL FORM, IT IS NOT OBLIGED TO PUBLISH THE BALANCE SHEET INFORMATION. WHEN INTERVIEWING SOURCES AT THE SUBJECT COMPANY DECLINED TO PROVIDE ANY KIND OF FINANCIAL INFORMATION.

 

OUTSIDE SOURCES CONTACTED SHOWED NO FINANCIAL DATA ABOUT THIS COMPANY.

 

EXCHANGE RATE:

 

 

US$ 1,00 = R$ 1,97

 - OFFICIAL RATE ON 15/04/2013

 

COMMENTS ON THE FINANCIAL INFORMATION:

 

IN THE ABSENCE OF FINANCIAL INFORMATION NO COMMENTS CAN BE MADE ABOUT THE SUBJECT'S CURRENT FINANCIAL STANDING.

 

REAL ESTATE:

OWNED PREMISES ARE VALUED AT R$ 75.750.000,00

 

VEHICLES:

NOT AVAILABLE

 

MACHINES:

NOT AVAILABLE

 

 

INSURANCE

 

THE SUBJECT IS SAID TO HOLD INSURANCE POLICIES BUT DETAILS WERE NOT DISCLOSED.

 

 

BANKING REFERENCES

 

 

BRANCH/PHONE:

CITY:

BANCO DO BRASIL S/A

0637-8 / 11 3682-5996

OSASCO/SP

BANCO BRADESCO S/A

0127-9 / 11 3465-1396

OSASCO/SP

BANCO ABN AMRO REAL S/A

0689 / 11 3174-7123

SÃO PAULO/SP

 

REMARKS: IN BRAZIL THE BANKS ARE PROHIBITED BY LAW TO PROVIDE INFORMATION OR ANY KIND OF COMMENTS ABOUT THEIR CLIENTS. DUE TO THIS LAW PROHIBITION WE ARE UNABLE TO PROVIDE ANY BANKING DETAILS.

 

ACCORDING TO THE CENTRAL BANK OF BRAZIL OFFICIAL REPORT, THE COMPANY HAS NO RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682 BRAZILIAN CENTRAL BANK").

 

 

ACTIVITIES COMMENTS

 

MANUFACTURE OF PARTS AND ACCESSORIES FOR MOTOR VEHICLES

 

 

IMPORT AND EXPORT:

 

   IMPORTS FROM:

NOT AVAILABLE.

 

   EXPORTS TO:

NOT AVAILABLE.

 

MAIN CLIENTS:

 

 

 

 

 

DOMESTIC CLIENTS:

 

 

AGRALE S/A

 

 

CATERPILLAR BRASIL LTDA.

 

 

DAIMLERCHRYSLER DO BRASIL LTDA

 

 

FIAT AUTOMOVEIS S/A

 

 

FORD BRASIL LTDA.

 

 

GENERAL MOTORS DO BRASIL LTDA.

 

 

MAN LATIN AMERICA IND E COM DE VEICULOS LTDA

 

 

SCANIA LATIN AMERICA LTDA

 

 

TOYOTA DO BRASIL LTDA

 

 

VOLKSWAGEN DO BRASIL LTDA.

 

 

VOLVO DO BRASIL VEICULOS LTDA.

 

 

 

FOREIGN CLIENTS:

 

 

CHRYSLER CORPORATION

 

 

 

STAFF:

 

THE COMPANY HAS: 1100 EMPLOYEE(S)

 

 

CONCEPT AND FULFILMENT

 

THE SUBJECT IS A WELL-ESTABLISHED COMPANY, OPERATING SINCE 1955. IT IS SUBSIDIARY OF A GROUP WITH HUGE FINANCIAL STRENGTH. SO FAR IT HAS A CLEAR TRADE HISTORY, GOOD PAYMENT BEHAVIOUR AND KEEPS ENJOYING A FAVORABLE REPUTATION AMONG LOCAL TRADE SOURCES.

 

THE COMPANY HAS TRADE RELATIONS WITH SEVERAL SUPPLIERS IN BRAZIL. THE SUPPLIERS EXTEND CREDIT FACILITIES TO THE SUBJECT IN TERMS AND AMOUNTS ACCORDING TO THE COMPANY'S NEEDS AND SO FAR NO PAYMENT PROBLEMS ARE NOTED.

 

THE LAWSUIT REPORTED IS NOT RELATED WITH TRADE DEBT. IT IS RELATED TO TAX DEBT THAT FOR ANY REASON THE COMPANY HAS NOT YET PAID. NEVERTHELESS WE POINT OUT THAT THE SAID LAWSUIT DOES NOT AFFECT THE COMPANY’S TRADE REPUTATION.

 

OUR INVESTIGATION THROUGH THE PUBLIC RECORDS SHOWED SOME DETRIMENTAL FILES REGISTERED AGAINST THE SUBJECT BUT DUE TO THE SUBJECT’S HIGH FINANCIAL STRENGTH AND HIGH SCALE OF OPERATIONS THE DETRIMENTAL FILES ARE CONSIDERED NORMAL AND DO NOT AFFECT ITS TRADE REPUTATION OR ITS CREDITWORTHINESS.

 

 

MAIN SUPPLIERS:

 

 

 

 

 

DOMESTIC SUPPLIERS:

 

 

ACESITA S/A

 

 

ARCELOR BRASIL S/A

 

 

BASF S/A

 

 

CIA SIDERURGICA BELGO MINEIRA

 

 

CINPAL INDUSTRIAL DE PEÇAS LTDA

 

 

COBRADIS CIA BRASILEIRA DISTRIBUIDORA DE PRODUTOS

 

 

DAMBROZ S/A IND MECÂNICA E METALÚRGICA

 

 

DELGA INDUSTRIA E COMERCIO LTDA

 

 

FERROLAR INDÚSTRIA E COMÉRCIO DE ARTEFATOS DE METAIS LTDA

 

 

INDÚSTRIA DE TINTAS E VERNIZES PAUMAR LTDA

 

 

OURO FINO IND E COMÉRCIO DE AUTO PEÇAS LTDA

 

 

PAULETUBO COMERCIAL LTDA

 

 

RIGESA CELULOSE PAPEL E EMBALAGENS LTDA

 

 

SAINT GOBAIN VIDROS S/A

 

 

THYSSEN FUNDIÇÕES LTDA.

 

 

TINKEN DO BRASIL LTDA

 

 

VALLOUREC & MANNESMANN TURES V. & M DO BRASIL

 

 

 

 

PAYMENT HISTORY:

 

7 SUPPLIERS REPORTED PAYMENTS:

   TOTAL AMOUNT:  R$ 1.753.374,00

 

AMOUNT OF INVOICES PAID: 186

TOTAL OF PROMPT PAYMENTS: 93,2%

TOTAL OF DELAYED PAYMENTS: 6,8%

 

HIGHEST INVOICE: R$ 47.706,00

HIGHEST CREDIT: R$ 75.705,00

 

OUTSTANDING INVOICES DUE WITHIN THE NEXT 60 DAYS:

 

---------------------------

SUPPLIERS:

INVOICES:

TOTAL AMOUNT:

DUE WITHIN 30 DAYS

2

25

R$ 212.243,58

DUE WITHIN 60 DAYS

1

16

R$ 122.379,74

 

 

FINAL OPINION

 

THE SUBJECT IS A WELL-ESTABLISHED COMPANY IN BUSINESS FOR SEVERAL YEARS. UP TO DATE IT HAS CLEAR TRADE HISTORY AND GOOD PAYMENT BEHAVIOUR.

 

BASED ON THE OVERALL INFORMATION AVAILABLE IT IS BELIEVED THAT GOOD TRADE RELATIONS MAY BE ESTABLISHED. CREDIT FACILITIES MAY BE EXTENDED WITHIN TERMS AND AMOUNTS ADEQUATE TO THE COMPANY'S SIZE AND FINANCIAL STRENGTH.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.94

UK Pound

1

Rs.82.77

Euro

1

Rs.71.05

 

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%)

 

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.