MIRA INFORM REPORT
|
Report Date : |
02.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
OUTOKUMPU STAINLESS AB |
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|
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Registered Office : |
PO Box 74 Avesta, SE
774 22 |
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Country : |
Sweden |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
1883 |
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Com. Reg. No.: |
5560018748 |
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Legal Form : |
Private Subsidiary |
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|
Line of Business : |
Subject is engaged in establishments, known as machine
shops |
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No. of Employees : |
1,000 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Status : |
Moderate |
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|
|
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Payment Behaviour : |
Slow |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Sweden |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
sweden - ECONOMIC OVERVIEW
Aided by peace and neutrality for the whole of the 20th century, Sweden has
achieved an enviable standard of living under a mixed system of high-tech
capitalism and extensive welfare benefits. It has a modern distribution system,
excellent internal and external communications, and a highly skilled labor
force. In September 2003, Swedish voters turned down entry into the euro system
concerned about the impact on the economy and sovereignty. Timber, hydropower,
and iron ore constitute the resource base of an economy heavily oriented toward
foreign trade. Privately owned firms account for vast majority of industrial
output, of which the engineering sector accounts for about 50% of output and
exports. Agriculture accounts for little more than 1% of GDP and of employment.
Until 2008, Sweden was in the midst of a sustained economic upswing, boosted by
increased domestic demand and strong exports. This and robust finances offered
the center-right government considerable scope to implement its reform program
aimed at increasing employment, reducing welfare dependence, and streamlining the
state's role in the economy. Despite strong finances and underlying
fundamentals, the Swedish economy slid into recession in the third quarter of
2008 and growth continued downward in 2009 as deteriorating global conditions
reduced export demand and consumption. Strong exports of commodities and a
return to profitability by Sweden''s banking sector drove the strong rebound in
2010, which continued in 2011, and the government is proposing stimulus
measures in the 2012 budget to curb the effects of a global economic slowdown
and boost employment and growth.
|
Source : CIA |
Company name and address
OUTOKUMPU STAINLESS AB
PO Box 74
Avesta, SE 774 22
Sweden
Tel: 46-22681000
Fax: 46-22681186
Website: www.outokumpustainless.com
Employees: 1,000
Company Type: Private Subsidiary
Corporate Family: 117 Companies
Ultimate Parent: Outokumpu Oyj
Incorporation Date: 1883
Financials in: USD (In Millions)
Fiscal Year End: 31-Dec-2011
Reporting Currency: Swedish Krona
Annual Sales: 2,287.8
Net Income: (269.0)
Total Assets: 2,252.6
Business Description
Outokumpu Stainless AB is primarily engaged in
establishments, known as machine shops primarily engaged in machining metal
parts on a job or order basis. Generally machine shop jobs are low volume using
machine tools, such as lathes (including computer numerically controlled);
automatic screw machines; and machines for boring, grinding, and milling.
Industry
|
Industry |
|
|
ANZSIC 2006: |
|
|
NACE 2002: |
|
|
NAICS 2002: |
324199 -
All Other Petroleum and Coal Products Manufacturing |
|
UK SIC 2003: |
|
|
UK SIC 2007: |
|
|
US SIC 1987: |
2999 -
Products of Petroleum and Coal, Not Elsewhere Classified |
Key Executives
|
Name |
Title |
|
Jarmo Tapio Tonteri |
verkst dir |
|
Carina Bjoirk |
Manager-Finance |
|
Jan Engseldt |
Manager-Marketing |
|
Bengt Olov Bergstrand |
ledamot |
|
Anders Lennart Finnström |
ledamot |
News
|
Title |
Date |
|
Outokumpu
aims for fourth of US stainless steel sales by 2015 |
27-Jan-2013 |
|
Deal
snapshot: TUBINOXIA GAINS CONTROL OF OSTP JOINT VENTURE WITH OUTOKUMPU |
21-Jan-2013 |
|
Tubinoxia
gains control of OSTP joint venture with Outokumpu |
18-Jan-2013 |
|
Outokumpu
job fair to seek 150 employees |
9-Jan-2013 |
|
Outokumpu's
stainless steel spins in Miele's washing machines |
12-Nov-2012 |
Registered No.(SWE): 5560018748
1 - Profit & Loss Item Exchange Rate: USD 1 = SEK 6.49369
2 - Balance Sheet Item Exchange Rate:
USD 1 = SEK 6.8553
Location
PO Box 74
Avesta, SE 774 22
Sweden
Tel: 46-22681000
Fax: 46-22681186
Website: www.outokumpustainless.com
Sales SEK(mil): 14,856.0
Assets SEK(mil): 15,442.0
Employees: 1,000
Fiscal Year End: 31-Dec-2011
Industry: Oil
and Gas Operations
Incorporation
Date: 1883
Company Type: Private
Subsidiary
Quoted Status: Not
Quoted
Registered No.(SWE): 5560018748
verkst dir: Jarmo
Tapio Tonteri
|
ANZSIC 2006 Codes: |
||
|
1701 |
- |
Petroleum
Refining and Petroleum Fuel Manufacturing |
|
2110 |
- |
Iron Smelting
and Steel Manufacturing |
|
NACE 2002 Codes: |
||
|
2320 |
- |
Manufacture of
refined petroleum products |
|
2732 |
- |
Cold rolling
of narrow strip |
|
2710 |
- |
Manufacture of
basic iron and steel and of ferro-alloys |
|
NAICS 2002 Codes: |
||
|
324199 |
- |
All Other
Petroleum and Coal Products Manufacturing |
|
331111 |
- |
Iron and Steel
Mills |
|
331221 |
- |
Rolled Steel
Shape Manufacturing |
|
331112 |
- |
Electrometallurgical
Ferroalloy Product Manufacturing |
|
US SIC 1987: |
||
|
2999 |
- |
Products of
Petroleum and Coal, Not Elsewhere Classified |
|
3316 |
- |
Cold-Rolled
Steel Sheet, Strip, and Bars |
|
3312 |
- |
Steel Works,
Blast Furnaces (Including Coke Ovens), and Rolling Mills |
|
3313 |
- |
Electrometallurgical
Products, Except Steel |
|
UK SIC 2003: |
||
|
2320 |
- |
Manufacture of
refined petroleum products |
|
2732 |
- |
Cold rolling
of narrow strip |
|
2710 |
- |
Manufacture of
basic iron and steel and of ferro-alloys |
|
UK SIC 2007: |
||
|
1920 |
- |
Manufacture of
refined petroleum products |
|
2410 |
- |
Manufacture of
basic iron and steel and of ferro-alloys |
|
2432 |
- |
Cold rolling
of narrow strip |
Outokumpu Stainless AB is primarily engaged in establishments, known as machine shops primarily engaged in machining metal parts on a job or order basis. Generally machine shop jobs are low volume using machine tools, such as lathes (including computer numerically controlled); automatic screw machines; and machines for boring, grinding, and milling.
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Corporate Structure News
Outokumpu
Stainless AB
Total Corporate Family Members: 117
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
Parent |
Espoo |
Finland |
Iron and Steel |
6,964.8 |
7,366 |
|
|
Subsidiary |
Dubai |
United Arab Emirates |
Miscellaneous Capital Goods |
|
8,000 |
|
|
Subsidiary |
Stockholm |
Sweden |
Iron and Steel |
2,287.8 |
2,270 |
|
|
Subsidiary |
Avesta |
Sweden |
Oil and Gas Operations |
2,287.8 |
1,000 |
|
|
Subsidiary |
Genova |
Italy |
Miscellaneous Capital Goods |
465.4 |
299 |
|
|
Subsidiary |
Paris |
France |
Miscellaneous Capital Goods |
144.8 |
70 |
|
|
Subsidiary |
Espoo |
Finland |
Oil and Gas Operations |
68.9 |
48 |
|
|
Subsidiary |
Willich, Nordrhein-Westfalen |
Germany |
Investment Services |
|
1 |
|
|
Subsidiary |
Helmond, Noord-Brabant |
Netherlands |
Miscellaneous Fabricated Products |
64.9 |
|
|
|
Subsidiary |
Sheffield |
United Kingdom |
Iron and Steel |
1,263.3 |
654 |
|
|
Subsidiary |
Birmingham |
United Kingdom |
Nonclassifiable Industries |
|
|
|
|
Subsidiary |
Degerfors |
Sweden |
Iron and Steel |
|
560 |
|
|
Subsidiary |
Sheffield |
United Kingdom |
Oil and Gas Operations |
|
400 |
|
|
Subsidiary |
Torshalla |
Sweden |
Oil and Gas Operations |
|
300 |
|
|
Joint Venture |
Fagersta |
Sweden |
Iron and Steel |
128.8 |
277 |
|
|
Subsidiary |
Langshyttan |
Sweden |
Oil and Gas Operations |
|
200 |
|
|
Subsidiary |
Sheffield |
United Kingdom |
Oil and Gas Operations |
|
200 |
|
|
Subsidiary |
Ornskoldsvik |
Sweden |
Miscellaneous Capital Goods |
|
186 |
|
|
Subsidiary |
Willich, Nordrhein-Westfalen |
Germany |
Iron and Steel |
432.2 |
170 |
|
|
Affiliates |
Storfors |
Sweden |
Oil and Gas Operations |
|
160 |
|
|
Affiliates |
Torshalla |
Sweden |
Oil and Gas Operations |
|
150 |
|
|
Subsidiary |
New Castle, IN |
United States |
Jewelry and Silverware |
|
140 |
|
|
Subsidiary |
Richburg, SC |
United States |
Oil and Gas Operations |
13.6 |
100 |
|
|
Subsidiary |
Sheffield |
United Kingdom |
Oil and Gas Operations |
|
100 |
|
|
Affiliates |
Fagersta |
Sweden |
Oil and Gas Operations |
125.0 |
94 |
|
|
Subsidiary |
Tallinn |
Estonia |
Oil and Gas Operations |
|
50 |
|
|
Subsidiary |
Aalten |
Netherlands |
Construction - Supplies and Fixtures |
43.9 |
40 |
|
|
Subsidiary |
Avesta |
Sweden |
Construction Services |
19.6 |
40 |
|
|
Subsidiary |
Gingen An Der Fils, Baden-WĂ¼rttemberg |
Germany |
Oil and Gas Operations |
37.3 |
35 |
|
|
Subsidiary |
Helmond |
Netherlands |
Miscellaneous Capital Goods |
44.6 |
30 |
|
|
Subsidiary |
Avesta |
Sweden |
Construction - Supplies and Fixtures |
23.5 |
30 |
|
|
Subsidiary |
Brockville, ON |
Canada |
Miscellaneous Fabricated Products |
9.8 |
30 |
|
|
Subsidiary |
Solbiate Olona |
Italy |
Oil and Gas Operations |
250.0 |
28 |
|
|
Subsidiary |
North Laverton, VIC |
Australia |
Miscellaneous Capital Goods |
31.1 |
25 |
|
|
Subsidiary |
Vasteras |
Sweden |
Oil and Gas Operations |
|
25 |
|
|
Subsidiary |
Kolding |
Denmark |
Miscellaneous Capital Goods |
0.0 |
24 |
|
|
Subsidiary |
Brunn am Gebirge |
Austria |
Miscellaneous Capital Goods |
53.2 |
17 |
|
|
Subsidiary |
Santurce, Vizcaya |
Spain |
Oil and Gas Operations |
|
16 |
|
|
Subsidiary |
Villeurbanne |
France |
Oil and Gas Operations |
13.8 |
14 |
|
|
Subsidiary |
Saint Petersburg |
Russian Federation |
Construction - Supplies and Fixtures |
|
10 |
|
|
Subsidiary |
Schaumburg, IL |
United States |
Miscellaneous Capital Goods |
18.9 |
9 |
|
|
Subsidiary |
Wildwood, FL |
United States |
Iron and Steel |
|
10 |
|
|
Subsidiary |
Dublin |
Ireland |
Oil and Gas Operations |
7.9 |
8 |
|
|
Subsidiary |
Kaunas |
Lithuania |
Oil and Gas Operations |
|
5 |
|
|
Subsidiary |
Porto |
Portugal |
Oil and Gas Operations |
|
4 |
|
|
Subsidiary |
Cape Town |
South Africa |
Oil and Gas Operations |
|
4 |
|
|
Subsidiary |
Riga |
Latvia |
Oil and Gas Operations |
|
3 |
|
|
Subsidiary |
Chynov |
Czech Republic |
Oil and Gas Operations |
|
|
|
|
Affiliates |
Muggensturm |
Germany |
Oil and Gas Operations |
|
|
|
|
Subsidiary |
Pyhasalmi |
Finland |
Metal Mining |
|
1,000 |
|
|
Subsidiary |
Mions |
France |
Miscellaneous Capital Goods |
194.3 |
643 |
|
|
Subsidiary |
Stockholm |
Sweden |
Construction - Supplies and Fixtures |
171.9 |
510 |
|
|
Subsidiary |
Pietarsaari |
Finland |
Construction - Supplies and Fixtures |
123.3 |
200 |
|
|
Subsidiary |
Örnsköldsvik, Västernorrland |
Sweden |
Construction - Supplies and Fixtures |
15.4 |
66 |
|
|
Subsidiary |
Milano |
Italy |
Miscellaneous Fabricated Products |
805.8 |
200 |
|
|
Subsidiary |
Sheffield |
United Kingdom |
Commercial Banks |
|
3 |
|
|
Subsidiary |
New Castle, IN |
United States |
Iron and Steel |
79.7 |
200 |
|
|
Subsidiary |
Wildwood, FL |
United States |
Iron and Steel |
|
200 |
|
|
Subsidiary |
Outokumpu |
Finland |
Iron and Steel |
|
200 |
|
|
Subsidiary |
Pori |
Finland |
Oil and Gas Operations |
|
167 |
|
|
Subsidiary |
Ainastalo |
Finland |
Oil and Gas Operations |
21.8 |
100 |
|
|
Division |
Jacksonville, FL |
United States |
Construction and Agriculture Machinery |
|
47 |
|
|
Subsidiary |
Oslo, Etterstad |
Norway |
Construction Services |
|
30 |
|
|
Subsidiary |
Tornio |
Finland |
Iron and Steel |
3,441.5 |
27 |
|
|
Subsidiary |
Tornio |
Finland |
Iron and Steel |
317.0 |
354 |
|
|
Subsidiary |
Sas-van-Gent |
Netherlands |
Oil and Gas Operations |
39.3 |
165 |
|
|
Subsidiary |
Outokumpu |
Finland |
Auto and Truck Parts |
|
150 |
|
|
Subsidiary |
Eskilstuna |
Sweden |
Miscellaneous Capital Goods |
151.4 |
70 |
|
|
Subsidiary |
Molkom, Värmland |
Sweden |
Miscellaneous Fabricated Products |
|
50 |
|
|
Subsidiary |
Ornskoldsvik |
Sweden |
Oil and Gas Operations |
13.5 |
70 |
|
|
Subsidiary |
Tornio |
Finland |
Miscellaneous Transportation |
12.0 |
50 |
|
|
Subsidiary |
Molkom |
Sweden |
Construction - Supplies and Fixtures |
8.5 |
50 |
|
|
Subsidiary |
Bruxelles |
Belgium |
Iron and Steel |
45.5 |
21 |
|
|
Subsidiary |
Tychy |
Poland |
Iron and Steel |
|
19 |
|
|
Subsidiary |
North Point, Hong Kong |
Hong Kong |
Iron and Steel |
1.0 |
9 |
|
|
Subsidiary |
Tianjin, Tianjin |
China |
Iron and Steel |
|
15 |
|
|
Subsidiary |
Jonkoping |
Sweden |
Oil and Gas Operations |
2.1 |
7 |
|
|
Subsidiary |
Avesta, Dalarna |
Sweden |
Miscellaneous Fabricated Products |
21.0 |
26 |
|
|
Subsidiary |
Opera |
Italy |
Miscellaneous Fabricated Products |
1.0 |
25 |
|
|
Subsidiary |
Brunn am Gebirge |
Austria |
Miscellaneous Fabricated Products |
53.2 |
18 |
|
|
Subsidiary |
Getxo, Vizcaya |
Spain |
Iron and Steel |
35.9 |
18 |
|
|
Subsidiary |
Espoo |
Finland |
Business Services |
4.1 |
18 |
|
|
Subsidiary |
Mortara, Pavia |
Italy |
Miscellaneous Capital Goods |
4.9 |
1 |
|
|
Subsidiary |
Milan |
Italy |
Oil and Gas Operations |
|
15 |
|
|
Subsidiary |
Oslo |
Norway |
Miscellaneous Capital Goods |
8.7 |
13 |
|
|
Subsidiary |
Budapest |
Hungary |
Oil and Gas Operations |
0.0 |
12 |
|
|
Subsidiary |
Itasca, IL |
United States |
Electronic Instruments and Controls |
|
12 |
|
|
Subsidiary |
New Delhi |
India |
Construction - Supplies and Fixtures |
1.0 |
11 |
|
|
Subsidiary |
Singapore |
Singapore |
Miscellaneous Fabricated Products |
|
10 |
|
|
Subsidiary |
Sao Paulo |
Brazil |
Miscellaneous Fabricated Products |
|
8 |
|
|
Subsidiary |
Singapore |
Singapore |
Iron and Steel |
1.0 |
7 |
|
|
Subsidiary |
Sao Paulo, Sao Paulo |
Brazil |
Iron and Steel |
|
7 |
|
|
Subsidiary |
Tokyo |
Japan |
Miscellaneous Capital Goods |
75.0 |
6 |
|
|
Subsidiary |
Espoo |
Finland |
Oil and Gas Operations |
147.2 |
5 |
|
|
Subsidiary |
Cape Town |
South Africa |
Miscellaneous Capital Goods |
|
4 |
|
|
Subsidiary |
Warsaw |
Poland |
Oil and Gas Operations |
|
3 |
|
|
Subsidiary |
ViĂ£ A Del Mar, Valparaiso |
Chile |
Miscellaneous Fabricated Products |
|
3 |
|
|
Subsidiary |
Istanbul |
Turkey |
Oil and Gas Operations |
|
2 |
|
|
Subsidiary |
Espoo |
Finland |
Miscellaneous Capital Goods |
125.0 |
|
|
|
Subsidiary |
Walsall |
United Kingdom |
Nonclassifiable Industries |
|
|
|
|
Subsidiary |
Veghel |
Netherlands |
Investment Services |
|
|
|
|
Subsidiary |
Alfortville |
France |
Miscellaneous Capital Goods |
105.0 |
74 |
|
|
Subsidiary |
Roermond |
Netherlands |
Engineering Consultants |
|
|
|
|
Subsidiary |
Espoo |
Finland |
Miscellaneous Financial Services |
|
|
|
|
Subsidiary |
Jakobstad |
Finland |
Engineering Consultants |
228.9 |
264 |
|
|
Subsidiary |
Sorsakoski |
Finland |
Iron and Steel |
|
40 |
|
|
Subsidiary |
Wavrin |
France |
Construction and Agriculture Machinery |
3.6 |
7 |
|
|
Facility |
Sheffield |
United Kingdom |
Construction - Supplies and Fixtures |
|
|
|
|
Subsidiary |
Cluj-Napoca |
Romania |
Construction - Supplies and Fixtures |
|
|
|
|
Subsidiary |
Sheffield |
United Kingdom |
Oil and Gas Operations |
|
|
|
|
Subsidiary |
Madrid, Algete |
Spain |
Oil and Gas Operations |
|
|
|
|
Subsidiary |
Moscow |
Russian Federation |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Bangkok |
Thailand |
Construction - Supplies and Fixtures |
|
|
|
|
Subsidiary |
Espoo |
Finland |
Construction - Supplies and Fixtures |
|
|
|
|
Subsidiary |
Duisburg |
Germany |
Iron and Steel |
|
|
|
|
Subsidiary |
Beijing |
China |
Miscellaneous Capital Goods |
|
|
|
|
Subsidiary |
Tornio |
Finland |
Paper and Paper Products |
|
|
Board of Directors
|
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|||
|
ledamot |
Director/Board Member |
|||
|
ledamot |
Director/Board Member |
|||
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ledamot |
Director/Board Member |
|||
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ledamot och ordförande |
Director/Board Member |
|||
|
ledamot |
Director/Board Member |
|||
|
ledamot |
Director/Board Member |
Executives
|
|
|
|||
|
verkst dir |
Managing Director |
|||
|
Manager-Finance |
Finance Executive |
|||
|
Manager-Marketing |
Marketing Executive |
|
Outokumpu
aims for fourth of US stainless steel sales by 2015 |
|
|
|
|
|
Press-Register
(Mobile, AL) |
|
|
[What follows is the full text of the news story.] CALVERT - Outokumpu Stainless USA, the former site of ThyssenKrupp Stainless USA in Calvert, is looking to snag a quarter of the U.S. stainless steel market in the next two years, the company said. Outokumpu Stainless CEO Mick Wallis said Thursday that the company controls about 14 percent of the market but hopes to gain big when stainless steel demand picks up in the next two to three years and Outokumpu ramps up production. The plant, which is running at about 35-40 percent capacity, will reach full potential by 2015, said David Scheid, vice president of human resources for Outokumpu Stainless. "It will take the rest of 2013 to ramp up the melt shop, and we need the time for hiring and training new employees," he said. "We also still need to install equipment in the cold rolling finishing area." This month the company held a job fair to fill 150 positions at its melt shop, which came online last month, and in its cold rolling mill. Scheid said Outokumpu received 770 applications for the openings, 75 of which will be for the melt shop's third shift and 75 for a fourth shift. Outokumpu Stainless hopes to have third-shift employees hired by the end of March and starting by June, and fourth-shift employees hired by June, Scheid said. Owned by Finnish steelmaker Outokumpu Oyj, Outokumpu Stainless employs about 760 people at its north Mobile County facility and plans to reach 953 by 2015. It shares a $5 billion campus with ThyssenKrupp Steel USA, which processes carbon steel slabs. ThyssenKrupp AG sold its stainless steel business to Outokumpu for 2.7 billion euros ($3.55 billion) and completed the sale last month. |
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Deal
snapshot: TUBINOXIA GAINS CONTROL OF OSTP JOINT VENTURE WITH OUTOKUMPU |
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M&A Navigator |
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[What follows is the full text of the news story.] Finnish stainless steel company Outokumpu Oyj (HEL:OUT1V) said its partner in the Outokumpu Stainless Tubular Products AB�(OSTP) joint venture, Italy's Tubinoxia Srl, had taken majority control of the JV. Country: Sweden Sector: Metals/Mining Target: Outokumpu Stainless Tubular Products AB Buyer: Tubinoxia Srl Vendor: Outokumpu Oyj Type: Corporate acquisition Status: Closed ((Comments on this story may be sent to info@m2.com)) |
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Tubinoxia
gains control of OSTP joint venture with Outokumpu |
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EquityBites |
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[What follows is the full text of the news story.] 18 January 2013 - Finnish stainless steel company Outokumpu Oyj (HEL:OUT1V) said on Friday its partner in the Outokumpu Stainless Tubular Products AB(OSTP) joint venture, Italy's Tubinoxia Srl, had taken majority control of the JV. Tubinoxia exercised a call option and acquired a further 15% stake in OSTP from Outokumpu, raising its ownership in the venture to 51% from 36% previously. Thus, Outokumpu has become a minority stockholder in OSTP with a 49% interest. Outokumpu said the consideration of the deal and its impact on cash flow were marginal. The OSTP joint venture, which was set up in July 2011, manufactures welded stainless steel pipes, tubes and fittings. ((Comments on this story may be sent to info@m2.com)) |
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Tubinoxia
gains control of OSTP joint venture with Outokumpu |
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M&A Navigator |
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[What follows is the full text of the news story.] 18 January 2013 � Finnish stainless steel company Outokumpu Oyj (HEL:OUT1V) said on Friday its partner in the Outokumpu Stainless Tubular Products AB�(OSTP) joint venture, Italy's Tubinoxia Srl, had taken majority control of the JV. Tubinoxia exercised a call option and acquired a further 15% stake in OSTP from Outokumpu, raising its ownership in the venture to 51% from 36% previously. Thus, Outokumpu has become a minority stockholder in OSTP with a 49% interest. Outokumpu said the consideration of the deal and its impact on cash flow were marginal. The OSTP joint venture, which was set up in July 2011, manufactures welded stainless steel pipes, tubes and fittings. Country: Sweden Sector: Metals/Mining Target: Outokumpu Stainless Tubular Products AB Buyer: Tubinoxia Srl Vendor: Outokumpu Oyj Type: Corporate acquisition Status: Closed |
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Outokumpu
job fair to seek 150 employees |
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Press-Register
(Mobile, AL) |
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[What follows is the full text of the news story.] Outokumpu Stainless USA in Calvert is looking to fill 150 full-time positions with a job fair later this week. On Saturday, Outokumpu Stainless, formerly known as ThyssenKrupp Stainless USA, will be looking for operator, maintenance, electrical and mechanical personnel at base wages between $19-$27 per hour, plus incentives. "With the completion of the merger between Outokumpu and ThyssenKrupp Stainless USA, the new combined company becomes the largest stainless manufacturer in the world," the company said. The 150 new jobs will fill the remaining shift positions at the company's melt shop, which came online last month, as well as positions in the cold rolling mill, said company spokesperson Mary Mullins. Company officials said heavy industry, steel or stainless-making experience is a plus but not a requirement, and all applicants must first apply online at the company website. If job seekers have already applied with ThyssenKrupp Stainless USA, they do not need to reapply, but should update their online applications. The job fair will be held from 10 to 2 p.m. on Saturday at the AIDT Erich Heine Learning Center at 4 Second St. in Calvert. Owned by Finnish steelmaker Outokumpu Oyj, Outokumpu Stainless employs about 715 people at its north Mobile County facility and plans to reach 953 by 2015. It shares a $5 billion campus with ThyssenKrupp Steel USA, which processes carbon steel slabs produced in Brazil. ThyssenKrupp AG sold the unit to Outokumpu Oyj for $3.55 billion and completed the sale last month. |
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Outokumpu's
stainless steel spins in Miele's washing machines |
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Company News Service
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[What follows is the full text of the news story.] OUTOKUMPU OYJ PRESS RELEASE 12 November 2012 at 10.00 am EETOutokumpu stainless steel is used to make crucial components in Miele�s world-leading washers and driers. Miele�s washing machines have the longest product lives of all competing appliances according to independent German WfK Cleaning Technology Institute. Miele�s machines tested by WfK were the only ones to operate faultlessly after 5 000 wash cycles. This equals about 20 years of normal use. Since the founding of Miele over a hundred years ago, Miele has persistently pursued market leadership, which requires impeccable performance from every component and material. In washers and dryers, the best and most sustainable appliances use stainless steel in parts that come in touch with water and moisture. To maintain their market leadership, Miele relies on leading material suppliers and has accordingly turned to Outokumpu. �Only the best European quality is good enough for Miele. Outokumpu supplies that quality,� comments Miele. Outokumpu�s stainless steel range meets the requirements of Miele with a full range of stainless steel used in washing-machine and tumble-dryer drums. After product tests and trial runs in 2011, Miele and Outokumpu started regular deliveries in 2012, with the intention to increase the deliveries over the next few years to build Outokumpu a significant supplier for Miele. Outokumpu supplies Miele with ferritic stainless steel for the drums of washing machines and tumble-dryers as well as austenitic stainless steel for dryers. Ferritic stainless steel comprises non-nickel stainless steel alloys with varying chromium content, which largely determines the alloy�s corrosion resistance. Ferritic stainless steel is the optimal choice for a wide range of applications. Outokumpu�s ferritic product range includes all commonly used grades and covers the main uses of the material. For more information, please contact: Group Communications, tel. +358 9 421 3840 OUTOKUMPU OYJOutokumpu is a global leader in stainless steel with the vision to be the undisputed number one. Customers in a wide range of industries use our stainless steel and services worldwide. Being fully recyclable, maintenance-free, as well as very strong and durable material, stainless steel is one of the key building blocks for sustainable future. Outokumpu employs some 7 000 people in more than 30 countries. The Group�s head office is located in Espoo, Finland. Outokumpu is listed on the NASDAQ OMX Helsinki. www.outokumpu.com |
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*
Moody's: Update On Thyssenkrupp-Outokumpu Stainless Steel Combination |
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OsterDowJones |
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[What follows is the full text of the news story.] The following is a press release from Moody's: Moody's: Update On Thyssenkrupp-Outokumpu Stainless Steel Combination http://v3.moodys.com/page/viewresearchdoc.aspx?docid=PR_256242&WT.mc_id=NLTITLE_YYYYMMDD_PR_256242 Sep 27, 2012 (Dow Jones Commodities News via Comtex) -- (END) Dow Jones Newswires 09-27-121227ET |
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Savings
and value drive supply chain gang |
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IN ASSOCIATION WITH NORBERT
DENTRESSANGLE The supply chain is vital to the success of any enterprise. In the
first of a series exploring its future in a range of businesses, we talk to
Alison Kinna of Outokumpu MOVE YOUR BUSINESS ON Automotive and industrial |
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Daily Telegraph (UK) |
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[What
follows is the full text of the news story.] With
growth in domestic markets scarce, leaders in the automotive and industrial
sectors are focusing on their supply chains for savings and competitive
advantage. Alison Kinna is no exception. Ms Kinna
is managing director of Outokumpu Stainless Distribution, the UK arm of
Finnish steel manufacturer Outokumpu, which employs 8,000 people in more than
30 countries. About 120 staff work at the Sheffield processing and
distribution plant of its British operations. Outokumpu,
named after a town in east Finland where a rich copper ore deposit was
discovered in 1910, produces a wide range of stainless steel products at its
Finnish and Swedish manufacturing sites. It imports
several thousand tons of this steel a year into the UK, sending some
shipments directly on to customers and others mostly by sea, road or rail to
its Sheffield site. However,
with the construction industry, normally one of the biggest markets for
steel, suffering from a dearth of activity, the Sheffield operation is under
pressure. The
result, says Ms Kinna, is that the supply chain � the source of major
productivity and efficiency gains in the automotive and industrial sector for
20 years � is being expected to come up with even more cost savings and
extra added value. "If
you talk to our customers," she says, "the stainless steel that
they buy is quite a high part of the intrinsic value of whatever they
manufacture, so they are all really focused on keeping the supply chain as
tight as possible. "They
want very little inventory on their sites, so they want to be able to give us
their requirements and for us to gear up our manufacturing and supply chain
round those requirements. We are obviously under our own pressures to keep
our supply chain as tight as possible because stainless steel is a very
expensive product, so it means that we have to work closely with our
customers to make sure that their forecasting, in terms of their
requirements, is as accurate as it could be, so that if there is going to be
a ramping up or tailing off of demand, we get as much advance notice as
possible. "That
means we are constantly working with our transport provider to try to refine
our delivery schedule to try to become as flexible as we can be for our
customers." Products
that are processed by Outokumpu Stainless Distribution include hot and cold
rolled steel, precision strip steel, tubular steel, long products and a
comprehensive range of fittings, flanges and welding consumables, all
available in various grades, dimensions and surface finishes. Such
products are then sent onward for transportation to end�users in the UK
automotive, building and construction, energy, oil and gas, and catering
equipment industries. Customers
include Foster Refrigerator, Sheffield stainless steel fixings group Ancon
Building Products and Burnley�based Fort Vale, a precision manufacturer of
valves and fittings for transportation in the road tanker and tank container
industries. Ms Kinna
says the effect of the current recession has been fairly balanced for the
firm, with the sharp downturn in construction counterbalanced by growth in
demand from other sectors such as oil and gas and nuclear decommissioning. The
overall result, however, is flat revenues, which means that costs remain the
biggest operational challenge for the firm. "In
terms of our biggest challenges, the cost aspect is exceptionally important
for us in our industry," Ms Kinna confirms. "While we always strive
to give excellent service to our customers, we are always mindful of the cost
impact of that. "Fuel
costs over the past few years have been very tough to manage and difficult to
pass on. It's not easy for any kind of business in the UK." There are
other challenges, too. One trend that Ms Kinna says Outokumpu Stainless
Distribution has noticed in the current climate is that customers' behaviour
is changing as they grapple with their own costs. "Customers
changing their requirements are difficult to manage in the most effective
way," she says. "We have noticed real trends since the height of
the financial crisis of 2008. The average order size is reducing and the
average lead time is also reducing. Customers want a very slick service, but
aren't prepared to pay any extra for it. The costs that we can control
ourselves, such as employment, are relatively stable. It's the raw material,
energy and fuel costs that we don't have much say over that are the most
difficult to manage and to pass on." Ms Kinna
cites the challenges of needing to generate growth in a flat general economic
climate, particularly when Outokumpu Stainless Distribution is unable to
answer the Government's call for UK firms to export more. That would compete
with the operations its parent company has in Germany, Italy and Sweden.
"There are not huge opportunities for growth in the UK," she says,
"but we are always on the lookout for new areas. Nuclear new�build
could be very exciting for us if that does go ahead. "That's
outside our control, but anything the Government can do to speed up the
approval processes for new�build would be a great help." Innovation
would be one obvious response, but the Outokumpu Stainless Distribution
managing director says that such is the nature of her business that
innovation most frequently occurs in the company's supply chain than in its
products. "If
people need a stainless steel product, we can maybe look to change some of
the specifications to give them more for their money, a different grade of
stainless steel or reduce the thickness," she says. "We
work with clients in those aspects to try to engineer some cost out, but some
of the strides we have made recently have been on the supply chain side in
terms of trying to take out cost and inventory in that way. "We're
working with key customers on material planning and inventory management
systems, making sure we are working very closely to use our analytical
knowledge to assist in their forecasting patterns. "In
addition, on our own site we have worked a lot over the past two to three
years in terms of operational excellence and then used that to try to
eradicate waste; for example yield losses, downtimes on equipment. "We've
used that to look at warehouse layouts so we can improve the efficiency of
our material handling processes. All these things help make us a little bit
more competitive." So does
using a third party outsourcing contract for onward transportation, she says.
With tight margins and variable costs providing a constant headache, she
believes that outsourcing logistics and transport gives the firm the benefit
of assistance from a specialist provider that is happy to work together to
solve supply chain problems. Flexible
agreements allow the outsourcing arrangements to scale up and down according
to workload and demand. For Ms Kinna and Outokumpu, it means one less problem
to worry about. On
September 27, Andrew Cave meets Guy Williams, managing director of AkzoNobel. Case study Service
and performance are both critical for us David
Taylor UK operations and supply chain director, Rettig Changing a
transport provider is a high risk for any business in the automotive and
industrial sector, as Rettig, Europe's largest radiator manufacturer, is
aware. Radiators are expensive to transport and fragile. If we chose a new
distributor who couldn't handle the products safely, it could ruin our
business. Supplying
one third of the UK domestic radiator market from the Tyneside factory where
we employ 350 people, this is a nettle we sometimes have to grasp. Six years
ago, the performance of our transport provider was deteriorating when our
customer base was growing and customers were becoming more demanding. Customers
carry less stock now, so it's critical we get our products to them at the
right time on the right day. We needed to match their demands without
increasing costs, so we went through a year�long tendering process,
selecting Christian Salvesen, later acquired by Norbert Dentressangle. Our
previous system saw trucks full of radiators set off from the North East on a
run across Britain that meant some customers didn't get products for two or
three days. Norbert Dentressangle makes 1,200 next�day deliveries of 40,000
radiators via a nationwide network of hubs every week. The firm
has been longsighted enough to invest in our business and it has delivered
what it promised, improving its performance every year, so we've just signed
up for another three years. Service and performance are critical for us and
Norbert Dentressangle is helping us achieve both. Time to
cut costs and share benefits Tomorrow's
industry Collaboration
will be key for distribution operations in the automotive and industrial
sector as firms search for further productivity gains after more than a
decade of targeting supply chains for efficiencies. That's the
view of Duncan Eyre, commercial director for transport services at logistics
group Norbert Dentressangle, who believes sharing networks and opening up of
infrastructure is the logical next stage of the industry's evolution.
"It's about how you get the next 1pc out of logistics costs," he
says. "Collaboration and consolidation are probably the next step in the
automotive aftermarket. Motor dealerships are realising their competition is
with the backstreet garages." The UK
automotive sector had always been brand�oriented, with major companies
guarding their operations and competing fiercely with rivals. But they are
now talking to each other about integrating supply chains to stave off the
lower end of the market. "Manufacturers
have previously been inclined to protect their brands by not allowing them to
travel with the competition," says Mr Eyre. "We
now run shared�user services for the automotive aftermarket through which
products and brands travel together. But what needs to happen is for
manufacturers to consider using each others' infrastructure. "Instead
of us delivering to 300 dealers of one manufacturer every night, we could
deliver to half those dealers and other dealers could pick up their parts
from them. That would take a chunk of costs out of the supply chain, with the
firms sharing the benefits. Discussions are taking place at a high level
between brands and we see ourselves as someone who can sponsor and drive
those discussions. It is opportune and necessary." Norbert
Dentressangle A key
supply chain challenge faced by many in the industrial sector is that of
achieving tighter cost control without compromising service levels. While
manufacturing and marketing costs are controllable, the cost of outsourced
logistics remains dependent on the professionalism and ability of the supply
chain provider. Norbert
Dentressangle's innovative and flexible approach delivers real cost savings
without compromising the reputation of the customer's brand. This could be by
using shared networks, consolidating similar products for onward distribution
or reviewing delivery times. Every single employee prides themself on this
entrepreneurial spirit and the way they commit to moving their customers'
business on. These values are as true today as they were when the company was
established in London in 1979, when Frenchman Norbert Dentressangle noticed
that lorries bringing Golden Delicious apples from France into Britain were
often returning empty. He set up his own logistics company and became a cross
�Channel transport leader. As he wanted his drivers to be instantly
recognisable he was the first operator to paint all his vehicles, and today
the red trucks, complete with his initials, are synonymous with the company
ethos of responsibility and security. With a
global annual turnover of �4 billion and 33,000 employees, the company is
an international supply chain partner. Following the acquisitions of
Christian Salvesen in 2007 and TDG in 2011, Norbert Dentressangle is the
second largest operator in the UK, encompassing the whole range of transport,
logistics and freight forwarding services, with 13,000 professionals, across
195 sites, providing bespoke, end�to�end solutions to the supply chain. To watch
an exclusive video of Outokumpu'sAlison Kinna explaining how to move your
business on, go to telegraph.co.uk/norbertdentressangle |
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Local
Outokumpu firm enters Europe market |
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Gulf Industry |
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[What
follows is the full text of the news story.] An
Outokumpu joint venture in Saudi Arabia has made its first shipments to
Europe as the company seeks to broaden its base within the kingdom and make
inroads into the wider GCC market. Outokumpu
Armetal Stainless Pipe Co Ltd said its first European supplies to a party in
Hungary achieved with the support of its mother company constituted a
milestone for the firm. "We're proud as a Saudi brand to deliver to a
very competitive market in Europe and we expect to make more deliveries there
in the future," said marketing executive Firas S Mousa. The
Riyadh-based joint venture combines Outokumpu Stainless Tubular Product
(OSTP) Europe with 51 per cent of the shareholding and Al Hejailan Group of
Saudi Arabia, 49 per cent. Outokumpu
Armetal also for the first time won a delivery order for the Qatar market and
will be supplying pipes ranging from diameter 1.5 inches to 6 inches for the
Sidra Medical Research Centre there. While in the past Outokumpu Europe
supplied directly to the Qatari market, the Sidra project is the first Qatari
presence for Outokumpu's Saudi unit. Mousa said overall annual exports were
currently only a small portion of sales but that the company was making
strong efforts to penetrate markets overseas and was encouraged by the
Hungary and Qatar gains. "We're
now analysing and studying the Omani market where there is high consumption
of stainless steel pipes. We have been invited to participate in a project in
Oman. Our growth strategy is first to secure our existence and presence in
the kingdom in cooperation with stainless steel comsuming companies, then to
expand in the GCC area. "We
will participate at Adipec 2012, the oil and gas exhibition, in Abu Dhabi
this November to present our products to potential customers from all over
the world. We have a large production capacity and need to find markets in
the GCC and the world." The joint
venture reported sales of SR44.8 million ($11.9 million) for 2011.� This
year the company began commercial operations of its new line for pipes of
higher sizes (2.5 inches diameter to 8 inches). The company has another line
to manufacture pipes of diameter half-inch to 2 inches. By the end of the
first quarter, the company signed contracts worth SR14.2 million and expects
to raise the figure to SR60 million by year's end. The
company is currently supplying welded stainless steel pipes in a variety of
sizes to Al Rasheed Company which is involved in a Saudi Government water
project. In recent months the company delivered its products to Safami, Imco
and Pan Gulf. Outokumpu has strong business ties with Imco and Pan Gulf. BROAD
RANGE OF CUSTOMERS Pipes and
plates accounted for 75 per cent of the company's turnover in 2011, said
Mousa. The
company's laboratory is equipped with advanced technology and has capability
to do x-ray, hardness, PMI (positive material identification), liquid
penetration, eddy current and weld route endoscopy tests. Mousa said
the company is currently developing practices to match Aramco standards
towards which end it will install new machinery and a new laboratory by
September. |
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Outokumpu
stainless steel shines at the heart of Leicester Square in London |
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Company News Service
/ English |
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[What follows is the full text of the news story.] PRESS RELEASE 25 May 2012 at 10.00 am EETOutokumpu stainless steel contributes to giving the busy Leicester Square in central London its new rejuvenated look. New unique stainless steel balustrades and gates are installed around the garden as part of a redevelopment project to modernise Leicester Square to provide Londoners and visitors alike a pleasant public space and meeting point. Outokumpu has supplied approximately 80 tonnes of standard austenitic 316 and duplex stainless steel to Midas Technologies (GB) Ltd. for the manufacture of the balustrading and gates for the park area around the square. The panel sheets were pre-polished by a sub-contractor and cut to desired specification at Outokumpu Plate Service Centre in Sheffield, United Kingdom. To facilitate subsequent fabrication and erection the stainless steel was supplied in separate panel parts, which were finally hand-polished to mirror finish prior to installation. �This has been a complex project requiring close cooperation between Outokumpu and Midas to meet a very tight schedule of 6 months, whilst also providing the customer with flexibility to change specification as the unique design evolved. The project has been a prime example of Outokumpu�s capabilities to provide a set of products, added value services as well as project management coordination�, says Danny Crossley from Outokumpu Plate Service Centre in the UK. Mark Lock, Managing Director of Midas Technologies, continues: �Outokumpu provided us with a seamless extension to our own facility and high quality customer service ethos. This was an extremely difficult project technically and the combination of different skills of all the staff involved, ensured that the specification and delivery were met. We look forward to working with Outokumpu again as this team work approach must be capitalised.� Stainless steel is an ideal material of choice for the built outdoor environment. It is cost effective in respect to longevity against other materials as well as corrosion resistant and durable. Stainless steel is also aesthetically pleasing and can be tailored to give structures a unique appearance according to design. At Leicester Square, the unique balance of the design and mirror polished finish reflects the surrounding landscaping and the ever changing colours and movements of the square make it a truly organic, dynamic and perpetual piece of architecture. The refurbishment project of Leicester Square was headed by Westone JV and main constructor SIAC Construction. The square was officially opened 23 May 2012. For media enquiries, please contact Outokumpu corporate communications, tel. +358 9 421 2569 OUTOKUMPU OYJOutokumpu is a global leader in stainless steel with the vision to be the undisputed number one. Customers in a wide range of industries use our stainless steel and services worldwide. Being fully recyclable, maintenance-free, as well as very strong and durable material, stainless steel is one of the key building blocks for sustainable future. Outokumpu employs some 8 000 people in more than 30 countries. The Group�s head office is located in Espoo, Finland. Outokumpu is listed on the NASDAQ OMX Helsinki. www.outokumpu.com |
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Outokumpu
Stainless Aktiebolag Receives Patent for Method in Connection with Steel
Production |
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Indian Patent News |
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[What
follows is the full text of the article.] New Delhi,
Aug. 13 -- Outokumpu Stainless Aktiebolag received patent for method in
connection with steel production on April 2, 2010. The patent number issued
by the Indian Patent Office is 239515. Outokumpu
Stainless Aktiebolag had filed patent application number 1101/MUMNP/2006 on
Sept. 14, 2006. The inventors of the patent are Sven-Eric Lunner and Ye
Guozhu. The
International classification number is C12C7/076. The PCT
International application number of the patent is PCT/SE2005/000497 and the
application was filed on April 6, 2005. According
to the Controller General of Patents, Designs & Trade Marks, "The
present invention relates to a method of producing a fluxing agent that can
be used in production of steel, preferably stainless steel, characterised in
that as a raw material for the production of said fluxing agent is used a
hydroxide sludge resulting from neutralisation of metal-contaminated pickling
liquid from a pickling step for a steel, said hydroxide sludge containing at
least one fluoride-containing compound, and that said hydroxide sludge is
calcined. The invention also relates to a method in connection with steel
production, preferably stainless steel, comprising production of a steel heat
and decarburization of the steel heat, whereby a slag is formed on top of
said steel heat, characterised in that a product according to the invention is
added to said slag. The invention also relates to the product produced
according to the invention." |
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Annual
Profit & Loss
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
SEK |
SEK |
SEK |
|
Exchange Rate (Period
Average) |
6.493691 |
7.206564 |
7.645194 |
|
Consolidated |
No |
No |
No |
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|
|
|
|
Total Revenue |
2,299.3 |
1,883.6 |
1,341.1 |
|
Gross Profit |
-30.2 |
-10.8 |
-37.8 |
|
Net Financial Items |
-222.4 |
-250.9 |
-95.9 |
|
Operating Income |
-190.8 |
-107.5 |
-124.9 |
|
Income Before Tax |
-282.3 |
-300.0 |
-168.5 |
|
Net Income |
-269.0 |
-283.8 |
-140.7 |
Annual Balance Sheet
Financials in: USD (mil)
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|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Filed Currency |
SEK |
SEK |
SEK |
|
Exchange Rate |
6.8553 |
6.72285 |
7.1401 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Total Assets |
2,252.6 |
2,617.2 |
2,512.7 |
|
Provisions |
85.6 |
213.7 |
260.2 |
|
Total Liabilities |
1,916.2 |
2,128.4 |
1,847.2 |
|
Total Equity |
250.8 |
275.0 |
405.3 |
Annual Ratios
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|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
- |
- |
- |
|
Exchange Rate |
- |
- |
- |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Operating Margin |
-4.94 |
-3.06 |
-8.10 |
|
Current Ratio |
135.52 |
109.20 |
115.06 |
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Total debt/total equity |
13.87 |
16.39 |
23.59 |
|
Return on average equity |
-125.28 |
-89.57 |
-39.89 |
Annual Growth Rates
|
|
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
|
Filed Currency |
- |
- |
|
Exchange Rate |
- |
- |
|
Consolidated |
No |
No |
|
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|
|
|
Turnover Percent Change |
10.00% |
32.39% |
|
Marginal Contribution Percent Change |
-151.28% |
73.01% |
|
Net Financial Items Percent Change |
20.13% |
-146.66% |
|
Operating Results Percent Change |
-59.87% |
18.85% |
|
Profit/Loss Before Tax Percent Change |
15.22% |
-67.86% |
|
Profit/Loss for the Year Percent Change |
14.57% |
-90.06% |
|
Assets Percent Change |
-12.24% |
-1.93% |
|
Provisions Percent Change |
-59.15% |
-22.66% |
|
Debts Percent Change |
-8.20% |
8.49% |
|
Equity Capital Percent Change |
-7.03% |
-36.11% |
|
Operating Margin Percent Change |
-61.44% |
62.22% |
|
Current Ratio Percent Change |
24.10% |
-5.09% |
|
Debt/Equity Ratio Percent Change |
-15.38% |
-30.52% |
|
Retun On Equity Percent Change |
-39.87% |
-124.54% |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.32 |
|
|
1 |
Rs.84.60 |
|
Euro |
1 |
Rs.72.63 |
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.