MIRA INFORM REPORT
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Report Date : |
17.01.2013 |
IDENTIFICATION DETAILS
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Name : |
WELDED TUBE OF CANADA LIMITED |
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Registered Office : |
111 Rayette Road, Concord, Ontario L4K 2E9 |
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Country : |
Canada |
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Date of Incorporation : |
01.11.1999 |
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Legal Form : |
Ontario Corporation – Profit |
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Line of Business : |
Manufactures Cold Formed Carbon And HSLA Steel Tubular Products. |
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No. of Employees : |
350 |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 an affluent,
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 and 2011 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 |
COMPANY NAME & ADDRESS
Company name: WELDED TUBE OF CANADA LIMITED
Address: 111 Rayette Road, Concord, Ontario L4K 2E9 -
Canada
Telephone: +1
905-669-1111
Fax: +1
905-738-4070
Website: www.weldedtube.com
Corporate ID#: ON-001380273
State: Ontario
Judicial form: Ontario Corporation –
Profit
Date incorporated: November
1, 1999
Date founded: 11-19-1969
Stock: -
Value: -
Name of manager: Barry
SONSHINE
ACTIVITIES
& OPERATIONS
History:
A former WELDED TUBE OF
CANADA LIMITED was incorporated in Ontario on
11-19-1969 under ID#
ON-000229793, merged into the new WELDED TUBE OF CANADA LIMITED on 11-01-1999.
Business:
Welded Tube of Canada Ltd. manufactures cold formed carbon and HSLA
steel tubular products.
It offers hollow structural sections (HSS), mechanical tube, API oil country
tubular goods, line pipe or sprinkler pipe, OCTG and line pile, and roll over
protective structures.
The company also provides services, such as ID flash removal, in-line
seam annealing, stress relieving, galvanizing, wire brushing, and end finishing.
Welded Tube of Canada offers its products for use in residential and
non-residential construction, agricultural and construction equipment, conveyor
systems, warehouse racking systems, casing, tubing and line pipe for the energy
markets, water well casing, and automotive axles; automotive parts, furniture
and office systems, fitness equipment, scaffolding, conveyor rolls, telescoping
applications, hand rails, and barrier protection; andscaffolding, automotive
parts, furniture and office systems, fitness equipment, conveyor rolls,
telescoping applications, hand rails, and barrier protection.
It serves agricultural, construction, automotive, energy, fire
protection, and the fitness industries.
Suppliers include:
SANKALP FORGINGS PVT., LTD.
1093/18 1093/2 CHAKAN SHIKRAPUR ROAD, KARANDI, TAL-SHIRUR PUNE -412208,
MAHARASHTRA, INDIA
Staff: 350
Operations & branches:
At above address, we find a
large factory, warehouse and office, owned.
SHAREHOLDERS & MANAGERS
Shareholders:
This is a private Company.
Management:
Barry SONSHINE is the President and CEO
Robert MANDEL is Vice President.
Jean ROGISKI is the CFO.
Subsidiaries &
Partnership:
WELDED TUBE OF CANADA CORP.
111 Rayette Road, Concord, Ontario L4K 2E9
Canada
Incorporated in Ontario on
November 5, 2012
ID# 001881210
WELDED TUBE-BERKELEY LLC
1100 North Steel Circle
Huger, South Carolina 29450
U.S.A.
Ph: 1-888-275-7006
Fx: 1-843-336-7053
WELDED TUBE USA, INC.
Tecumseh Business Park
Lackawanna, NY 14218
U.S.A.
and others.
FINANCIALS
In Canada, privately held
corporations are not required to publish any financials.
On a direct call, a
financial assistant controlled the present report but deferred any financials.
We sent a fax but no answer
received.
However, sales estimate for
year 2011 is in excess of CAD 15,000,000+
The business is profitable.
Banks: Scotia Bank
...
LEGAL FILINGS
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: None
COMPANY
CREDIT HISTORY
Trade references:
Date reported: December 2012
High credit: CAD 6,000+
Now owing: 0
Past due: 0
Last purchase: November 2012
Line of business: Office supply
Paying status: On terms
Date reported: December 2012
High credit: CAD 600,000+
Now owing: 0
Past due: 0
Last purchase: November 2012
Line of business: Payroll
Paying status: As agreed
Date reported: December 2012
High credit: CAD 1,000
Now owing: 0
Past due: 0
Last purchase: November 2012
Line of business: Telecommunications
Paying status: On terms
Domestic credit history:
Domestic credit history
appears as follow:
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Monthly Payment Trends - Recent Activity |
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National Credit Bureaus
gave a satisfying credit rating.
According to our credit analysts, during the last 6 months, payments
were made on terms.
International credit history:
Payments of imports are currently made on terms.
Other comments:
The Company is investing a
lot in Canada and the U.S.A.
The bank confirmed a strong
account.
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.
National Credit Bureaus
give a correct credit rating.
According to our credit analysts, during the last 6 months, 92% of trade
experience indicates a regular payment.
Payments of imports are currently made with an average of 2 to 5 days
beyond terms.
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 |
|
US Dollar |
1 |
Rs.54.82 |
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UK Pound |
1 |
Rs.87.99 |
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Euro |
1 |
Rs.72.82 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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 |
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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.