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Report Date : |
23.12.2013 |
IDENTIFICATION DETAILS
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Name : |
LINCOLN ELECTRIC COMPANY OF CANADA LP |
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Registered Office : |
179 Wicksteed Avenue, Toronto, Ontario M4G 2B9 |
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Country : |
Canada |
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Date of Incorporation : |
30.12.1930 |
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Legal Form : |
Limited Partnership |
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Line of Business : |
Importer wholesaler and distributor of arc welding products, robotic welding
systems, and plasma and oxyfuel cutting equipment. |
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No. of Employees : |
300 |
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, 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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
As a 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 economic crisis, 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 2010-12 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
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Source : CIA |
LINCOLN ELECTRIC COMPANY OF CANADA LP
Address: 179
Wicksteed Avenue, Toronto, Ontario M4G 2B9 - Canada
Telephone: +1
416-421-2600
Fax: +1
416-421-3065
Website: www.lincolnelectric.ca
Corporate ID#: ON-002018659
State: Ontario
Judicial form: Limited
Partnership
Date incorporated: 11-19-2002
Date founded: 12-30-1930
Stock: -
Value: -
Name of manager: Joseph G. DORIA
Business:
The Company is importer wholesaler and distributor of arc welding
products, robotic welding systems, and plasma and oxyfuel cutting equipments.
The company’s products include welders, wire
feeders, welding consumables, fume extraction systems, guns and torches, fixed
table systems, and electrodes, as well as gas and medical equipment and
accessories.
It also provides welder and generator for
construction contractors, maintenance crews, farmers, and ranchers.
Staff: 300+
Operations & branches:
At the headquarters, we find warehouse and office, owned.
The Company maintains branches located:
939 Gana Court
Mississauga, Ontario L5S 1N9
#6 - 5925 12th Street
S.E. Calgary, AB T2H 2M3
1239 Manahan Avenue
Winnipeg, MB R3T 5S8
Shareholders:
LINCOLN ELECTRIC HOLDINGS, INC.
22801 Saint Clair Avenue, Cleveland, OH
44117
Lincoln Electric Holdings, Inc., through its
subsidiaries, engages in the design, manufacture, and sale of welding, cutting,
and brazing products worldwide. Its welding products include arc welding power
sources, wire feeding systems, robotic welding packages, fume extraction
equipment, consumable electrodes, and fluxes; and computer numeric controlled
plasma and oxy-fuel cutting systems, and regulators and torches used in
oxy-fuel welding, cutting, and brazing. The company also offers brazing and
soldering alloys. It serves various markets, such as general metal fabrication,
power generation and process industry, structural steel construction, heavy
equipment fabrication, shipbuilding, automotive, pipe mills and pipelines, and
offshore oil and gas exploration and extraction. The company sells its products
directly to users of welding products, as well as through industrial
distributors, retailers, and agents.
Lincoln Electric Holdings, Inc. was founded
in 1895 and is headquartered in Cleveland, Ohio.
The Company is listed with the Nasdaq under
symbol LECO.
Management:
Joseph G. DORIA is the President and CEO.
Joe Doria joined Lincoln in 1972 as a Technical Sales Trainee.
He was named Executive Vice President and
Chief operating Officer of Lincoln Canada in 1989 and President & Chief
Executive officer of Lincoln Canada by 1992. In 1995 Joe was elected Vice President
and Officer of Lincoln Electric Holdings. In 1998, he was named President of
Lincoln Europe and subsequently returned to Canada in 2002 as President of the
Canadian operations.
Joe is currently Chairman of the Board of
the Canadian Welding Bureau Group (a Not for Profit organization) and has been
a member since 2003.
Joe is a Member of the Institute of Corporate Directors and of the
Association of Science & Engineering
Technology, Alberta.
He is Past Director of the Welding Institute
of Canada and of Lincoln Big 3 Alaska. He is Past President and Director of the
WPMAC (Welding Products Manufacturing Association of Canada) as well as the
European Welding Association. He is an Alumnus of both Harvard and Queens
University and was nominated for the Ontario Premier's Award Certificate.
James SUTCLIFFE, Director of Finance
Dale MALCOLM, Vice President Sales Canada
Subsidiaries
And partnership: None
In Canada, privately held corporations are not required to publish any
financials.
On a direct call, a financial assistant controlled the present report
and confirmed that all financials are consolidated into the parent company,
which reported the following:
|
Currency
in |
As
of: |
Dec 31 |
Dec 31 |
Dec 31 |
Dec 31 |
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TOTAL REVENUES |
1,729.3 |
2,070.2 |
2,694.6 |
2,853.4 |
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NET INCOME |
48.6 |
130.2 |
217.2 |
257.4 |
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Banks: Scotia Bank
Legal filings & complaints:
As of today date, there is no legal filing pending
with the Courts.
Secured debts summary: Several
Haut du formulaire
Trade references:
Date reported: November 2013
High credit: CAD 15,000
Now owing: 0
Past due: 0
Last purchase: October 2013
Line of business: Office
supply
Paying status: On terms
Date reported: November 2013
High credit: CAD 400,000
Now owing: 0
Past due: 0
Last purchase: October 2013
Line of business: Payroll
Paying status: As agreed
Date reported: November 2013
High credit: CAD 1,000
Now owing: 0
Past due: 0
Last purchase: October 2013
Line of business: Telecommunications
Paying status: On terms
Domestic credit history:
National Credit Bureaus gave a satisfying credit rating.
According to our credit analysts, during the
last 6 months, domestic payments were made on due date.
Other comments:
The Company maintains a regular business.
The Company is in good standing.
This means that all local and federal taxes were paid on due date.
The risk is low.
Our opinion:
A business connection may be conducted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.24 |
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|
1 |
Rs.101.80 |
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Euro |
1 |
Rs.84.87 |
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.