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Report Date : |
27.12.2013 |
IDENTIFICATION DETAILS
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Name : |
CIEMEX |
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Registered Office : |
Thomas Alba Edison Nº 7, Parque Industrial Cuamatla , Postal Code 54730, Cuautitlán Izcalli |
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Country : |
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Date of Incorporation : |
27.06.1960 |
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Legal Form : |
Stock Company of Variable Capital |
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Line of Business : |
Manufacturer of glass and ceramics dyes. |
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No. of Employees : |
100 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – September 30th, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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Mexico |
A2 |
A2 |
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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 |
Mexico ECONOMIC OVERVIEW
Mexico has a free market economy
in the trillion dollar class. It contains a mixture of modern and outmoded
industry and agriculture, increasingly dominated by the private sector. Recent
administrations have expanded competition in seaports, railroads, telecommunications,
electricity generation, natural gas distribution, and airports. Per capita
income is roughly one-third that of the US; income distribution remains highly
unequal. Since the implementation of the North American Free Trade Agreement
(NAFTA) in 1994, Mexico's share of US imports has increased from 7% to 12%, and
its share of Canadian imports has doubled to 5.5%. Mexico has free trade
agreements with over 50 countries including Guatemala, Honduras, El Salvador,
the European Free Trade Area, and Japan - putting more than 90% of trade under
free trade agreements. In 2012 Mexico formally joined the Trans-Pacific
Partnership negotiations and in July it formed the Pacific Alliance with Peru,
Colombia and Chile. In 2007, during its first year in office, the Felipe
CALDERON administration was able to garner support from the opposition to
successfully pass pension and fiscal reforms. The administration passed an
energy reform measure in 2008 and another fiscal reform in 2009. Mexico's GDP
plunged 6.2% in 2009 as world demand for exports dropped, asset prices tumbled,
and remittances and investment declined. GDP posted positive growth of 5.6% in
2010 with exports - particularly to the United States - leading the way. Growth
slowed to 3.9% in 2011 and slightly recovered to 4% in 2012. In November 2012,
Mexico's legislature passed a comprehensive labor reform which was signed into
law by former President Felipe CALDERON. Mexico's new PRI government, led by
President Enrique PENA NIETO, has said it will prioritize structural economic
reforms and competitiveness. The new president signed the Pact for Mexico, an
agreement that lists 95 priority commitments, along with the leaders of the
country's three main political parties: the Institutional Revolutionary Party
(PRI), the National Action Party (PAN) and the Party of the Democratic
Revolution (PRD).
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Source : CIA |
IDENTIFICATION
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CORRECT COMPANY NAME |
CIEMEX S.A. DE
C.V. |
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TRADE NAME |
CIEMEX |
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TAXPAYER REGISTRATION |
RFC CIE600627HIA |
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MAIN ADDRESS |
Thomas Alba Edison Nº 7, Parque Industrial
Cuamatla |
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POSTAL CODE |
54730 |
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DEPT/PROV/REGION/STATE |
Cuautitlán Izcalli |
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COUNTRY |
MEXICO |
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TELEPHONE |
(5255) 58724362 - 58722179 |
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CORPORATE E-MAIL |
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WEB |
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COMMENTS |
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Another E-Mail: admon@gciemex.com |
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EXECUTIVE SUMMARY
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Date of foundation |
1960 |
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permanent employees |
100 |
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Chief Executive |
GARZA VALVERDE, ALFONSO |
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Disposition |
Poor. Very few information was given.
Politely. |
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Payments policy |
Usually to terms / good |
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Number of times that this company was
required: 4 |
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REPUTATION |
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NOTHING AGAINST COMPANY |
LEGAL STRUCTURE
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LEGAL STATUS |
Stock
Company of Variable Capital |
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DATE OF INCORPORATION |
27JUN1960 |
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PLACE OF REGISTRY |
Cuautitlan/Izcalli |
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NOTARY OFFICE |
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DURATION |
99 years |
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CURRENT EXCHANGE RATE (US$) |
Ps$12.99 per USA Dollar |
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COMMENTS |
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FEATURES OF THE COMPANY: Company with predominantly economic purposes, as befits a S.A. DE C.V. |
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DIRECTORS
EXECUTIVES – SHAREHOLDERS |
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WHO IS WHO?
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GARZA VALVERDE,
ALFONSO |
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TITLE |
CEO |
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NATIONALITY |
Mexican |
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D.O.B. |
1936 |
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PRADO RAMIREZ,
PABLO |
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TITLE |
Administrative Manager |
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NATIONALITY |
Mexican |
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PROFESSION |
Public Accountant |
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ASSOCIATED AS PER OUR DATABASE TO |
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BUSINESS HISTORY
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For more than 40 years (since 1960) CIEMEX has been developing, under the management of Alfonso Garza (Engineer) the best products in the industry, and today, it has a manufacturing plant in the State of Mexico and 02 warehouses of finished products. |
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RELATED COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER
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BUSINESS
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SIC Classification |
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Main activity |
Manufacture of glass and ceramics dyes.Products sold: Glass enamels, organic, free of heavy metals and ceramic pigments, based on lead and zinc and cadmium.Trademark: "CIEMEX". |
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OPERATIONS |
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Import |
Yes |
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Country |
USA |
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Export |
Yes |
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COUNTRY |
The Philippines, Pakistan and India do not
indicate percentages. |
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% Credit SALES / Terms |
100% (60-Day credit facilities) |
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SELLING TerritorY |
Domestic and foreign markets |
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EMPLOYEES |
100 |
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Comments |
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Subject Company has ISO 9001:2008 Certification.Clients:THE COCA- COLA COMPANY PEPSICOetc.
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FINANCIAL INFORMATION
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Disposition |
Poor. Very few information was given.
Politely. |
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Interviewee(s) |
C.P.A. Pablo Prado Ramírez |
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Position(s) |
Administrative Manager/Accountant |
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Information provided |
C.P.A. Pablo Prado Ramirez has requested us to send him an email in order to request authorization from the upper management to provide financial information and information from, has not given or promised information delivery date; we have followed up and the response has been, that upper management has not yet given permission for information disclosure .We continued our investigation through third-party sources and official where we obtained some supplementary information for this report. |
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SALES |
US$ 0.00 () |
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FINANCIAL SITUATION |
NN: UNDETERMINEDThe company's Financial Standing is considered to be Undetermined since there is no financial information that allows us to asses its results.This is an old company committed to offer the best colors for glass and ceramic industry in the market. |
TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS
(Confidential Information) |
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TRADE REFERENCES |
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Note : Other
suppliers did not provide information or could not be consulted |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.98 |
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UK Pound |
1 |
Rs.101.49 |
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Euro |
1 |
Rs.84.79 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
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.