|
Report Date : |
06.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
Duferco Sa |
|
|
|
|
Registered Office : |
Via Bagutti 9, 6900 Lugano/TI |
|
|
|
|
Country : |
Switzerland |
|
|
|
|
Year of Establishment : |
1979 |
|
|
|
|
Com. Reg. No.: |
514.3.002.576-4 / 47756 |
|
|
|
|
Legal Form : |
Company Limited by Shares |
|
|
|
|
Line of Business : |
The company distributes metal and steel products of Duferco Group. |
|
|
|
|
No. of Employees : |
250 |
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 : |
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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Switzerland |
B2 |
B2 |
|
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
3.0% 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 safe-haven
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 1.9% in 2011 and 0.8%
in 2012. 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 is
considering 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
Operating address:
Via Bagutti 9
6900 Lugano/TI
Switzerland/CH
Telephone: 091
8225600
Fax: 091
8225700
Web site: http://www.duferco.com
E-mail: info@duferco.com
WIN Worldbox No.: CH0000420982
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
Sales: CHF 1-2 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
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 così 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 società può concedere a terzi, compresi gli azionisti diretti od
indiretti della società o le società 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 potrà 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
società può partecipare ad altre imprese in Svizzera e all'estero.
25.02.2002 Il commercio di prodotti di acciaio ed ogni
altro prodotto siderurgico così pure di materie prime ed in particolare quelle
relative al ciclo siderurgico quali ad esempio carbone, coke, minerale di
ferro, rottami, ferroleghe ed altre. Potrà 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 così 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 società 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 società 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 società 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, Residential address: Lugano/TI, Switzerland, born:
29.04.1983, joint signature of two
Chief Executive Antonio
Gozzi, Origin: Italy, Residential address: Chiavari, Italy, joint signature of
two, Registered since: 05.10.2007
Chief Executive Benedict
John Sciortino, Origin: United States of America, Residential address:
Lugano/TI, Switzerland, joint signature of two
Director Matthew
De Morgan, Origin: United Kingdom, Residential address: 6900 Lugano/TI,
Switzerland, joint signature of two, Registered since: 05.02.2008
Title Name
Director Stefano
Arancio, Origin: Italy, Residential address: Berganzona/TI, Switzerland, joint
signature of two
Director Alessandro
Casale, Origin: Italy, Residential address: Castagnola/TI, Switzerland, joint
signature of two, Restricted signatory powers, Registered since: 07.05.2008
Director Paolo
Foti, Origin: Italy, Residential address: Lugano/TI, Switzerland, joint
signature of two
Director Thomas
Patrick, Origin: Langnau im Emmental, Switzerland, Residential address: Ponte
Capriasca, Switzerland, joint signature of two, Restricted signatory powers,
Registered since: 19.09.2005
Director Enrico
Toschi, Origin: Italy, Residential address: Carona, Switzerland, born:
11.04.1964, joint signature of two, Restricted signatory powers, Registered
since: 07.05.2008
Director Giuseppe
Venturato, Origin: Lugano, Switzerland, Residential address: Origlio,
Switzerland, born: 06.01.1966, joint signature of two, Restricted signatory
powers, Registered since: 07.05.2008
Title Name
Auditor PricewaterhouseCoopers
SA, Residential address: Lugano, Switzerland, Id: CH-514.9.014.248-1,
Registered since: 05.04.2011
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: Frederiksværk, 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/Delaware, United
States of America/US
Name: DUFERCO UK LIMITED
City/Country: Bromsgrove/Worcestershire,
United Kingdom/GB
Class: 100%
Name: DufEnergy Trading SA
City/Country: Lugano/TI, Switzerland/CH
Interest: 100.00% voting right,
100.00% capital interest
Class: 100%
Name: Duferco C.E.C. SA
City/Country: Lugano/TI, Switzerland/CH
Interest: 100.00% voting right,
100.00% capital interest
Class: 100%
Name: Duferco Shipping SA
City/Country: Lugano/TI, 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 good.
Payment
experiences: Payment habits are
considered good.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.82 |
|
|
1 |
Rs.92.97 |
|
Euro |
1 |
Rs.80.73 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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.