MIRA
INFORM REPORT
|
Report Date : |
22.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
ALBEMARLE EUROPE |
|
|
|
|
Registered Office : |
Rue du Bosquet 9, Louvain-La-Neuve, 1348 |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Year of Establishments: |
1964 |
|
|
|
|
Com. Reg. No.: |
403062021 |
|
|
|
|
Legal Form : |
Private Subsidiary Company |
|
|
|
|
Line of Business : |
Manufacture and wholesale distribution of anti-coagulant
chemicals for lubricants and waxes and flame retardants for plastics |
|
|
|
|
No. of Employees : |
93 |
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 : |
Satisfactory |
|
Payment Behaviour : |
Unknown |
|
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
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Belgium |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Belgium - ECONOMIC OVERVIEW
This modern, open, and private-enterprise-based economy has capitalized
on its central geographic location, highly developed transport network, and
diversified industrial and commercial base. Industry is concentrated mainly in
the more heavily-populated region of Flanders in the north. With few natural
resources, Belgium imports substantial quantities of raw materials and exports
a large volume of manufactures, making its economy vulnerable to volatility in
world markets. Roughly three-quarters of Belgium's trade is with other EU
countries, and Belgium has benefited most from its proximity to Germany. In
2011 Belgian GDP grew by 2.0%, the unemployment rate decreased slightly to 7.7%
from 8.3% the previous year, and the government reduced the budget deficit from
a peak of 6% of GDP in 2009 to 4.2% in 2011. Despite the relative improvement
in Belgium's budget deficit, public debt hovers near 100% of GDP, a factor that
has contributed to investor perceptions that the country is increasingly
vulnerable to spillover from the euro-zone crisis. Belgian banks were severely
affected by the international financial crisis in 2008 with three major banks
receiving capital injections from the government, and the nationalization of
the Belgian arm of a Franco-Belgian bank. An ageing population and rising
social expenditures are mid- to long-term challenges to public finances.
|
Source : CIA |
Company name & address
Albemarle Europe
Rue du Bosquet 9
Louvain-La-Neuve, 1348
Belgium
Tel: 010 48 17 11
Fax: 010 48 17 17
Web: www.albemarle.com
Synthesis
Employees: 93
Company Type: Private Subsidiary
Corporate Family: 31
Companies
Ultimate Parent: Albemarle Corporation
Incorporation Date: 1964
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2010
Reporting Currency: Euro
Annual Sales: 937.7 1
Total Assets: 1,621.2
Business Description
Manufacture and wholesale distribution of anti-coagulant chemicals for lubricants and waxes and flame retardants for plastics
Industry
Industry Chemical Manufacturing
ANZSIC 2006: 1899 - Other Basic
Chemical Product Manufacturing Not Elsewhere Classified
NACE 2002: 2466 - Manufacture
of other chemical products not elsewhere classified
NAICS 2002: 325998 - All Other
Miscellaneous Chemical Product and Preparation Manufacturing
UK SIC 2003: 2466 - Manufacture
of other chemical products not elsewhere classified
UK SIC 2007: 2059 - Manufacture
of other chemical products n.e.c.
US SIC 1987: 2899 - Chemicals
and Chemical Preparations, Not Elsewhere Classified
Key Executives
|
Name |
Title |
|
Mattheuw K Juneau |
General Manager |
|
G. Santos |
Data Processing Manager |
|
Christian Franzen |
Purchasing Manager |
|
Alexis Gregoire Van Bavel |
Representative/Auditor |
|
Michèle Boriau |
Human Resources Manager |
News
|
Title |
Date |
|
Albemarle Europe SPRL Files Patent
Application for Hydrotreating Catalyst Containing Phosphorus and Boron |
17-Mar-2013 |
|
Albemarle
Europe SPRL Files Patent Application for Alkylation Catalyst and Related
Process |
2-Nov-2012 |
|
Australia
Patent: Albemarle Europe Files Application for 'Concentrated solutions
comprising group VI metal, group VIII metal, and phosphorus' |
31-Mar-2012 |
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064
Corporate Overview
Location
Rue du Bosquet 9
Louvain-La-Neuve, 1348
Belgium
Tel: 010 48 17 11
Fax: 010 48 17 17
Web: www.albemarle.com
Sales EUR(mil) : 708.0
Assets EUR(mil): 1,208.5
Employees: 93
Fiscal Year End: 31-Dec-2010
Industry: Chemical Manufacturing
Incorporation Date: 1964
Company Type: Private Subsidiary
Quoted Status: Not Quoted
Registered No.(VAT): 403062021
General Manager: Mattheuw
K Juneau
Industry Codes
ANZSIC 2006 Codes:
1899 - Other Basic Chemical Product Manufacturing Not Elsewhere
Classified
3323 - Industrial and Agricultural Chemical Product Wholesaling
1813 - Basic Inorganic Chemical Manufacturing
NACE 2002 Codes:
2466 - Manufacture of other chemical products not elsewhere
classified
5155 - Wholesale of chemical products
2413 - Manufacture of other inorganic basic chemicals
NAICS 2002 Codes:
325998 - All Other Miscellaneous Chemical Product and Preparation
Manufacturing
325188 - All Other Basic Inorganic Chemical Manufacturing
424690 - Other Chemical and Allied Products Merchant Wholesalers
US SIC 1987:
2899 - Chemicals and Chemical Preparations, Not Elsewhere
Classified
5169 - Chemicals and Allied Products, Not Elsewhere Classified
2819 - Industrial Inorganic Chemicals, Not Elsewhere Classified
UK SIC 2003:
2466 - Manufacture of other chemical products not elsewhere
classified
5155 - Wholesale of chemical products
2413 - Manufacture of other inorganic basic chemicals
UK SIC 2007:
2059 - Manufacture of other chemical products n.e.c.
2013 - Manufacture of other inorganic basic chemicals
4675 - Wholesale of chemical products
Business
Description
Wholesale of chemical products
More Business Descriptions
Manufacture and wholesale distribution of anti-coagulant chemicals for lubricants and waxes and flame retardants for plastics
Pharmaceutical Preparation Mfr
Chemicals and allied products
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Corporate Family |
Corporate
Structure News: |
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|
Albemarle
Corporation |
|
Albemarle Europe |
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|
Company Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Baton Rouge, LA |
United States |
Chemicals - Plastics and Rubber |
2,745.4 |
4,000 |
|
|
Branch |
Baton Rouge, LA |
United States |
Chemical Manufacturing |
1,583.2 |
500 |
|
|
Subsidiary |
Bergheim, Nordrhein-Westfalen |
Germany |
Chemical Manufacturing |
424.0 |
500 |
|
|
Joint Venture |
Breitenau |
Austria |
Chemical Manufacturing |
41.8 |
54 |
|
|
Branch |
Houston, TX |
United States |
Chemical Manufacturing |
721.2 |
475 |
|
|
Branch |
Pasadena, TX |
United States |
Chemical Manufacturing |
721.2 |
475 |
|
|
Branch |
Magnolia, AR |
United States |
Chemical Manufacturing |
357.4 |
475 |
|
|
Subsidiary |
Amsterdam, Noord-Holland |
Netherlands |
Chemical Manufacturing |
|
473 |
|
|
Branch |
Orangeburg, SC |
United States |
Chemical Manufacturing |
399.3 |
450 |
|
|
Branch |
Emerson, AR |
United States |
Chemical Manufacturing |
357.4 |
400 |
|
|
Branch |
Pasadena, TX |
United States |
Chemical Manufacturing |
340.1 |
300 |
|
|
Branch |
Tyrone, PA |
United States |
Chemical Manufacturing |
98.0 |
200 |
|
|
Branch |
South Haven, MI |
United States |
Biotechnology and Drugs |
27.0 |
120 |
|
|
Subsidiary |
Budapest |
Hungary |
Business Services |
6.5 |
76 |
|
|
Branch |
Tyrone, PA |
United States |
Chemical Manufacturing |
|
55 |
|
|
Subsidiary |
Bristol |
United Kingdom |
Chemical Manufacturing |
20.8 |
52 |
|
|
Joint Venture |
Tokyo |
Japan |
Chemical Manufacturing |
|
40 |
|
|
Subsidiary |
Twinsburg, OH |
United States |
Engineering Consultants |
|
16 |
|
|
Subsidiary |
Singapore |
Singapore |
Biotechnology and Drugs |
193.6 |
15 |
|
|
Branch |
Ames, IA |
United States |
Biotechnology and Drugs |
|
15 |
|
|
Subsidiary |
Middlesbrough |
United Kingdom |
Chemical Manufacturing |
3.9 |
5 |
|
|
Branch |
Rayne, LA |
United States |
Personal Services |
|
2 |
|
|
Subsidiary |
Bergheim, Nordrhein-Westfalen |
Germany |
Biotechnology and Drugs |
|
1 |
|
|
Subsidiary |
Durban, KwaZulu-Natal |
South Africa |
Chemical Manufacturing |
|
|
|
|
Subsidiary |
Tokyo |
Japan |
Biotechnology and Drugs |
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|
Subsidiary |
Shanghai |
China |
Biotechnology and Drugs |
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|
|
|
Subsidiary |
Shanghai |
China |
Biotechnology and Drugs |
|
|
|
|
Subsidiary |
Nanjing |
China |
Biotechnology and Drugs |
|
|
|
|
Subsidiary |
Seoul |
Korea, Republic of |
Biotechnology and Drugs |
|
|
|
|
Albemarle Corp |
Subsidiary |
|
|
|
|
|
|
Subsidiary |
Louvain-La-Neuve |
Belgium |
Chemical Manufacturing |
937.7 |
93 |
Executive report
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Board of
Directors |
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Director |
Director/Board Member |
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Executives |
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General Manager |
Division Head Executive |
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Business Manager |
Managing Director |
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Business Manager |
Managing Director |
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Representative/Auditor |
Accounting Executive |
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Human Resources Manager |
Human Resources Executive |
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Manager, Decision-maker, Shareholders' Representative |
Shareholder Relations Executive |
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Data Processing Manager |
Information Executive |
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Purchasing Manager |
Purchasing Executive |
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Decision-maker |
Other |
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Manager |
Other |
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Decision-maker |
Other |
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Decision-maker |
Other |
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Decision-maker |
Other |
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Decision-maker |
Other |
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Manager |
Other |
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Decision-maker |
Other |
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Decision-maker |
Other |
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Decision-maker |
Other |
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Decision-maker |
Other |
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Manager |
Other |
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Decision-maker |
Other |
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Decision-maker |
Other |
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Decision-maker |
Other |
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Decision-maker |
Other |
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Decision-maker |
Other |
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Decision-maker |
Other |
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Decision-maker |
Other |
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Decision-maker |
Other |
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Decision-maker |
Other |
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Decision-maker |
Other |
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Decision-maker |
Other |
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Annual Profit & Loss
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.755078 |
0.719047 |
0.683679 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Turnover |
937.7 |
720.3 |
939.5 |
|
Increase or
Decrease in Stocks of Finished Goods, and Orders in Progress |
5.6 |
5.1 |
4.8 |
|
Other Operating
Income |
20.5 |
6.4 |
6.1 |
|
Operating Income |
963.7 |
731.8 |
950.3 |
|
Purchases |
755.5 |
588.4 |
820.9 |
|
Increase
or Decrease in Stocks |
-5.3 |
35.9 |
-34.5 |
|
Raw Materials,
Consumables, and Goods for Release |
750.2 |
624.3 |
786.4 |
|
Services and
Sundry Goods |
108.4 |
102.8 |
125.9 |
|
Remuneration,
Social Security Charges, and Pensions |
20.1 |
19.1 |
17.9 |
|
Depreciation of
and Other Amounts Written Off of Formation Expense, Intangible and Tangible
Fixed Assets |
17.2 |
7.7 |
0.9 |
|
Increase or
Decrease in Amounts Written Off Stocks, Orders, and Trade Debtors |
0.7 |
-0.6 |
0.3 |
|
Provisions for
Liabilities and Charges |
0.0 |
-0.2 |
-0.2 |
|
Other Operating
Charges |
0.3 |
0.2 |
0.1 |
|
Operating
Charges |
896.8 |
753.3 |
931.3 |
|
Income From
Financial Fixed Assets |
16.2 |
11.1 |
19.6 |
|
Income From
Current Assets |
1.0 |
0.1 |
0.7 |
|
Other Financial
Income |
44.8 |
18.3 |
45.9 |
|
Financial Income |
62.1 |
29.5 |
66.3 |
|
Interest and Other
Debt Charges |
53.0 |
62.6 |
72.4 |
|
Other Financial
Charges |
51.3 |
17.0 |
42.1 |
|
Financial Charges |
104.2 |
79.6 |
114.5 |
|
Gain on Disposal
of Fixed Assets |
- |
- |
0.1 |
|
Other
Extraordinary Income |
0.0 |
- |
0.0 |
|
Extraordinary
Income |
0.0 |
- |
0.1 |
|
Provisions for
Extraordinary Liabilities and Charges |
-1.6 |
2.5 |
- |
|
Loss on Disposal
of Fixed Assets |
- |
- |
0.0 |
|
Other
Extraordinary Charges |
- |
21.9 |
0.0 |
|
Extraordinary
Charges |
-1.6 |
24.4 |
0.0 |
|
Transfer from
Differed Taxes |
- |
0.0 |
0.0 |
|
Income Taxes |
1.4 |
0.1 |
0.4 |
|
Income Taxes |
1.4 |
0.1 |
0.4 |
|
From
Capital and Share Premium Account |
- |
99.3 |
- |
|
From
Reserves |
- |
- |
19.9 |
|
Transfers From
Capital and Reserves |
- |
99.3 |
19.9 |
|
To
the Legal Reserve |
1.0 |
- |
- |
|
Transfers to
Capital and Reserves |
1.0 |
- |
- |
|
Employees |
93 |
106 |
120 |
Annual Balance
Sheet
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.745406 |
0.696986 |
0.719399 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Intangible
Assets |
61.1 |
24.0 |
19.8 |
|
Land
& Buildings |
3.8 |
4.8 |
5.4 |
|
Plant,
Machinery, and Equipment |
1.1 |
1.0 |
0.4 |
|
Furniture
and Vehicles |
0.2 |
0.3 |
0.2 |
|
Other
Tangible Assets |
- |
- |
1.1 |
|
Assets
Under Construction and Advance Payments |
0.3 |
0.1 |
0.8 |
|
Tangible
Assets |
5.5 |
6.2 |
7.8 |
|
Participating
Interests |
1,158.1 |
1,360.7 |
1,258.5 |
|
Affiliated
Enterprises |
1,158.1 |
1,360.7 |
1,258.5 |
|
Amounts
Receivable and Cash Guarantees |
0.9 |
0.7 |
0.0 |
|
Other
Capital Assets |
0.9 |
0.7 |
0.0 |
|
Capital
Assets |
1,159.0 |
1,361.4 |
1,258.6 |
|
Fixed Assets |
1,225.6 |
1,391.6 |
1,286.1 |
|
Other
Amounts Receivable |
25.8 |
4.9 |
5.1 |
|
Amounts
Receivable After More Than One Year |
25.8 |
4.9 |
5.1 |
|
Raw
Materials and Consumables |
0.2 |
0.6 |
0.6 |
|
Finished
Goods |
6.7 |
4.2 |
0.1 |
|
Goods
Purchased for Resale |
116.4 |
116.0 |
146.5 |
|
Stocks |
123.3 |
120.8 |
147.2 |
|
Inventory
and Orders in Progress |
123.3 |
120.8 |
147.2 |
|
Trade
Debtors |
53.5 |
42.2 |
40.7 |
|
Other
Amounts Receivable |
131.2 |
95.7 |
131.1 |
|
Amounts
Receivable Within One Year |
184.8 |
137.9 |
171.8 |
|
Other
Investments and Deposits |
- |
0.1 |
- |
|
Investments |
- |
0.1 |
- |
|
Liquid
Assets |
61.7 |
6.7 |
12.8 |
|
Adjustment
Accounts |
0.1 |
0.0 |
0.3 |
|
Current Assets |
395.7 |
270.4 |
337.2 |
|
Total Assets |
1,621.2 |
1,662.1 |
1,623.3 |
|
Issued
Capital |
299.7 |
320.6 |
233.3 |
|
Capital |
299.7 |
320.6 |
233.3 |
|
Legal
Reserve |
2.2 |
1.3 |
1.3 |
|
Reserves |
2.2 |
1.3 |
1.3 |
|
Pensions
and Similar Obligations |
- |
0.0 |
0.3 |
|
Other
Liabilities and Charges |
0.7 |
2.6 |
- |
|
Provisions
for Liabilities and Charges |
0.7 |
2.6 |
0.3 |
|
Deferred
Taxation |
0.1 |
0.1 |
0.1 |
|
Provisions
and Deferred Taxes |
0.8 |
2.7 |
0.3 |
|
Capital and
Reserves |
320.8 |
315.9 |
225.5 |
|
Other
Loans |
996.4 |
1,065.0 |
1,031.9 |
|
Financial
Debts |
996.4 |
1,065.0 |
1,031.9 |
|
Amounts
Due After More Than One Year |
996.4 |
1,065.0 |
1,031.9 |
|
Other
Loans |
107.1 |
62.1 |
128.2 |
|
Financial
Debts |
107.1 |
62.1 |
128.2 |
|
Suppliers |
160.1 |
179.7 |
235.5 |
|
Trade
Debts |
160.1 |
179.7 |
235.5 |
|
Taxes |
2.2 |
0.2 |
- |
|
Remuneration
and Social Security |
3.3 |
1.5 |
1.7 |
|
Taxes,
Wages, and Social Security |
5.5 |
1.6 |
1.7 |
|
Other
Amounts Payable |
30.5 |
34.5 |
0.0 |
|
Amounts
Payable Within One Year |
303.2 |
277.9 |
365.5 |
|
Adjustment
Accounts |
0.1 |
0.6 |
0.1 |
|
Creditors |
1,299.6 |
1,343.5 |
1,397.5 |
|
Total
Liabilities + Shareholders' Equity |
1,621.2 |
1,662.1 |
1,623.3 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.03 |
|
UK Pound |
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
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.