MIRA INFORM REPORT

 

 

Report Date :

18.01.2013

 

IDENTIFICATION DETAILS

 

Name :

ERCA QUÍMICA LTDA

 

 

Registered Office :

Avenida Caetano De Abreu, 55 - Encosta Do Sol, 13255-830 - Itatiba/Sp

 

 

Country :

Brazil

 

 

Date of Incorporation :

29.04.1998

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacture of Cleaning and Perfumery Products

 

 

No. of Employees :

76

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Unknown

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)

Brazil

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Brazil - ECONOMIC OVERVIEW

 

Characterized by large and well-developed agricultural, mining, manufacturing, and service sectors, Brazil's economy outweighs that of all other South American countries, and Brazil is expanding its presence in world markets. Since 2003, Brazil has steadily improved its macroeconomic stability, building up foreign reserves, and reducing its debt profile by shifting its debt burden toward real denominated and domestically held instruments. In 2008, Brazil became a net external creditor and two ratings agencies awarded investment grade status to its debt. After strong growth in 2007 and 2008, the onset of the global financial crisis hit Brazil in 2008. Brazil experienced two quarters of recession, as global demand for Brazil's commodity-based exports dwindled and external credit dried up. However, Brazil was one of the first emerging markets to begin a recovery. In 2010, consumer and investor confidence revived and GDP growth reached 7.5%, the highest growth rate in the past 25 years. Rising inflation led the authorities to take measures to cool the economy; these actions and the deteriorating international economic situation slowed growth to 2.7% for 2011 as a whole, though forecasts for 2012 growth are somewhat higher. Despite slower growth in 2011, Brazil overtook the United Kingdom as the world's seventh largest economy in terms of GDP. Urban unemployment is at the historic low of 4.7% (December 2011), and Brazil's traditionally high level of income equality has declined for each of the last 12 years. Brazil's high interest rates make it an attractive destination for foreign investors. Large capital inflows over the past several years have contributed to the appreciation of the currency, hurting the competitiveness of Brazilian manufacturing and leading the government to intervene in foreign exchanges markets and raise taxes on some foreign capital inflows. President Dilma ROUSSEFF has retained the previous administration's commitment to inflation targeting by the central bank, a floating exchange rate, and fiscal restraint.

 

Source : CIA

 

 

COMPANY NAME

 

ERCA QUÍMICA LTDA

 

COMPANY ADDRESSES

 

MAIN ADDRESS:

AVENIDA CAETANO DE ABREU, 55 - ENCOSTA DO SOL

ZIP CODE/CITY:

13255-830 - ITATIBA/SP

 

 

PHONE:

11 4894-8907

FAX:

11 4894-8907

E-MAIL:

claudia.aldrichi@ertex.com.br

WEB SITE:

www.ercagroup.com.br

 

BRANCHES

 

DOES NOT HAVE.

 

LEGAL DATA

 

MAIN ACTIVITIES:

 

MANUFACTURE OF CLEANING AND PERFUMERY PRODUCTS.

 

LEGAL FORM:

LIMITED LIABILITY COMPANY

 

 

INCORPORATION DATE:

29/04/1998

REGISTER DATE:

29/04/1998

BALANCE SHEET FILING DATE:

31/12

TAX CONTRIBUTOR NUMBER(CNPJ):

02.668.950/0001-14

STATE REGISTER:

382.056.601.117

 

 

SHARE CAPITAL:

R$ 4.677.840,00

LAST REGISTER OF CAPITAL:

13/05/2002

 

BOARD OF DIRECTORS:

 

 

 

SIDNEI MATURANO LOURENCO

MANAGER

ALEXANDRE BEDANI MATURANO

MANAGER

GRACIETI LUCA BEDANI MATURANO LOURENÇO

MANAGER

GUSTAVO BEDANI MATURANO

MANAGER

 

 

 

AUTHORIZED USE OF SIGNATURE

 

THE MANAGERS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY.

 

SHAREHOLDERS / PARTNERS:

 

 

 

SOCIETA CHIMICA LOMBARDA S.P.A.

R$ 2.338.920,00

SIGRA PARTICIPAÇÕES LTDA

R$ 2.338.920,00

 

AFFILIATES / SUBSIDIARIES:

 

 

 

ERTEX COMERCIO DE PRODUTOS QUIMICOS LTDA

 

 

 

 

 

 

COMPANY'S BACKGROUND

 

THE SUBJECT WAS ESTABLISHED IN 1998 AS ERTEX QUIMICA S/A TO BE ENGAGED IN THE SAID LINE OF BUSINESS. LATER IT ALTERED TO ERTEX QUÍMICA LTDA. ON JUNE 04, 2012 IT ADOPTED THE ABOVE STYLE AND UP TO DATE IT IS STILL OPERATING WITHIN THE GENERAL SCENE REPORTED HEREIN.

 

PARTNERS:

 

SOCIETA CHIMICA LOMBARDA S.P.A.: HEADQUARTERED AT AT MONFORTE N 38 MILAO, ITALY, REPRESENTED BY ITS ATTORNEY, MR. MARZIO ARCARI, BRAZILIAN, HOLDER OF DOCUMENTS CPF 911.040.768-53 AND RG 9.679.849, RESIDENTIAL ADDRESS AT RUA PADRE JOÃO MANUEL, 654, APTO 21, CERQUEIRA CESAR, ZIP CODE 01411-000, SÃO PAULO/SP;

 

SIGRA PARTICIPAÇÕES LTDA: HEADQUARTERED AT AVENIDA EXPEDICIONÁRIOS BRASILEIROS, 988, CENTRO, ZIP CODE 13256-400, VILA BRASILEIRA, ZIP CODE 13256-400, ITATIBA/SP, REPRESENTED BY ITS ATTORNEYS, MR. ALEXANDRE BEDANI MATURANO, GRACIETI LUCIA BEDANI MARUTANO LOURENÇO, GUSTAVO BEDANI MATURANO AND SIDNEI MATURANO LOURENÇO, AS BELOW MENTIONED;

 

MANAGERS:

 

ALEXANDRE BEDANI MATURANO: BRAZILIAN, HOLDER OF DOCUMENTS CPF 260.845.618-96, RESIDENTIAL ADDRES AT PASSAGEM GIUSEPPE MASSARETI, 85, SERRINHA, ITATIBA/SP;

 

GRACIETI LUCIA MATURANO LOURENÇO: BRAZILIAN, HOLDER OF DOCUMENTS CPF 112.217.498-54, RESIDENTIAL ADDRES AT AVENIDA EXPEDICIONÁRIOS BRASILEIROS, 988, CENTRO, ZIP CODE 13256-400, ITATIBA/SP;

 

GUSTAVO BEDANI MATURANO: BRAZILIAN, HOLDER OF DOCUMENTS CPF 295.176.518-56, RESIDENTIAL ADDRES AT AVENIDA EXPEDICIONÁRIOS BRASILEIROS, 988, CENTRO, ZIP CODE 13256-400, ITATIBA/SP;

 

SIDNEI MATURANO LOURENÇO: BRAZILIAN, HOLDER OF DOCUMENTS CPF 068.502.278-15, RESIDENTIAL ADDRES AT AVENIDA EXPEDICIONÁRIOS BRASILEIROS, 988, CENTRO, ZIP CODE 13256-400, ITATIBA/SP.

 

FURTHER DETAILS ARE SO FAR NOT KNOWN.

 

REMARKS:

--------

 

WHEN CONTACTING THE SUBJECT WE INTERVIEWED MRS. JESSICA, FINANCIAL DEPARTMENT, WHO INFORMED THAT WOULD NOT DISCLOSE ANY KIND OF INFORMATION UNLESS THE INQUIRING PARTY'S NAME WAS DISCLOSED.

 

THE DATA CONTAINED HEREIN WERE OBTAINED FROM OUTSIDE SOURCES, OUR DATABASE AND OFFICIAL. NO FURTHER DATA WAS AVAILABLE WITH SEVERAL SOURCES USUALLY INVESTIGATED.

 

PUBLIC INFORMATION

 

LAWSUITS:

 

 

 

DATE:

COURT OF LAW:

 

1

FEDERAL LAWSUIT

30/06/09

VARA DE SP-ITATIBA

 

FINANCIAL INFORMATION

 

DUE TO THE SUBJECT'S LEGAL FORM, IT IS NOT OBLIGED TO PUBLISH THE BALANCE SHEET INFORMATION. WHEN INTERVIEWING SOURCES AT THE SUBJECT COMPANY DECLINED TO PROVIDE ANY KIND OF FINANCIAL INFORMATION.

 

OUTSIDE SOURCES CONTACTED SHOWED THE FOLLOWING FINANCIAL DATA ABOUT THIS COMPANY. NO MORE UPDATE OR COMPLETE IS AVAILABLE.

 

MONTHLY SALES

 

  2009

 

 

 

---------------------

 

 

JANUARY

R$ 4.421.462,35

 

 

FEBRUARY

R$ 4.540.259,90

 

 

MARCH

R$ 5.477.049,57

 

 

APRIL

R$ 4.901.319,14

 

 

MAY

R$ 5.451.312,12

 

 

JUNE

R$ 5.243.813,09

 

 

JULY

R$ 5.675.907,29

 

 

AUGUST

R$ 5.151.032,90

 

 

SEPTEMBER

R$ 5.425.710,45

 

 

OCTOBER

 

 

 

NOVEMBER

 

 

 

DECEMBER

 

 

 

TOTAL

R$ 46.287.866,81

 

 

 

 

EXCHANGE RATE:

 

 

US$ 1,00 = R$ 2,03

 - OFFICIAL RATE ON 14/01/2013

 

COMMENTS ON THE FINANCIAL INFORMATION

 

IN THE ABSENCE OF FURTHER FINANCIAL DATA WE ARE NOT ABLE TO ACCESS THE SUBJECT FINANCIAL STANDING BY THE USUAL STANDARDS.

 

ALL THAT CAN BE REPORTED IS THAT SUBJECT OPERATES WITH A GROWING SCALE OF ACTIVITIES AND SO FAR NO SIGNS OF FINANCIAL PROBLEMS ARE REGISTERED.

 

REMARKS:

 

ACCORDING TO THE RULES OF THE ACCOUNTANCY PROCEEDING FOLLOWED BY THE SUBJECT, IT COLLECTS THE TAXES, WHICH ARE DUE OVER THE GROSS SALES AMOUNT. THE TAXES SHOULD BE COLLECTED EITHER WITH PROFIT OR LOSS AT THE END OF THE FISCAL YEAR.

 

REGARDING THE RULES OF THE ABOVE SAID PROCEEDING IT MAY BE POSSIBLE TO STATE THAT COMPANIES WHICH FILE ACCOUNTS THROUGH THIS PROCEEDING ARE PROFITABLE COMPANIES. IT IS STATED BECAUSE THE MAIN DIFFERENCE OF THE PROCEEDING NAMED "LUCRO REAL" AND THE ONE NAMED "LUCRO PRESUMIDO" IS THAT IN THE FIRST THE COMPANY ONLY PAYS INCOME TAX WHEN IT HAS PROFIT AT THE END OF THE FISCAL YEAR, WHILE IN THE LAST THE COMPANY PAYS INCOME TAX REGARDLESS IT HAS PROFIT OR LOSS. THEREFORE, IF ANY COMPANY WHICH ADOPTS THE "PRESUMED PROFIT" PROCEEDING WAS NOT PROFITABLE IT WOULD BE A BETTER OPTION TO FILE ACCOUNTS THROUGH THE "LUCRO REAL" PROCEEDING BECAUSE IN THIS PROCEEDING TAXES ARE DUE ONLY WHEN PROFITABLE RESULTS ARE MET. IN CASE OF LOSSES NO INCOME TAX IS DUE.

 

IN SHORT, COMPANIES, WHICH FILE ACCOUNTS THROUGH "LUCRO PRESUMIDO" PROCEEDING, ARE USUALLY PROFITABLE COMPANIES.

 

REAL ESTATE

 

 OWNED PREMISES ARE VALUED AT R$ 7.000.000,00

 

VEHICLES

 

DETAIL(S):

 

QUANTITY:

11

TYPE:

CAR

VALUE:

R$ ,00

REMARKS:

ELEVEN OWNED VEHICLES REPRESENTED BY CARS AND TRUCKS.

 

MACHINES:

 

OWNED MACHINES AND EQUIPMENTS ARE VALUED AT R$ 6.000.000,00

 

INSURANCE

 

THE COMPANY HAS CORPORATE INSURANCE COVERING ALL ITS EQUITY CONTRACTED WITH SEVERAL INSURANCE COMPANIES LEADED BY SUL AMERICA SEGUROS S/A. THE COMPANY HAS LIFE INSURANCE AND HEALTH PLAN FOR ALL THE EMPLOYEES.

 

BANKING REFERENCES

 

 

BRANCH/PHONE:

CITY:

BANCO DO BRASIL S/A

11 4523-4408

JUNDIAÍ/SP

BANCO BRADESCO S/A

11 2136-0050

JUNDIAÍ/SP

 

REMARKS: IN BRAZIL THE BANKS ARE PROHIBITED BY LAW TO PROVIDE INFORMATION OR ANY KIND OF COMMENTS ABOUT THEIR CLIENTS. DUE TO THIS LAW PROHIBITION WE ARE UNABLE TO PROVIDE ANY BANKING DETAILS.

 

ACCORDING TO THE CENTRAL BANK OF BRAZIL OFFICIAL REPORT, THE COMPANY HAS NO RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682 BRAZILIAN CENTRAL BANK").

 

ACTIVITIES COMMENTS

 

THE SUBJECT IS ENGAGED IN THE MANUFACTURE, SALE, IMPORT AND EXPORTS OF AUXILIARY CHEMICALS FOR THE TEXTILE AND COSMETIC INDUSTRIES, AS WELL AS OTHER INDUSTRIAL APPLICATIONS. ACTIVITIES OF MANAGEMENT HOLDING COMPANIES.

 

IMPORT AND EXPORT:

 

IMPORTS FROM:

 

ITALY, UNITED STATES AND BELGIUM.

 

 EXPORTS TO:

 

DOES NOT EXPORT.

 

MAIN CLIENTS:

 

 

 

 

 

DOMESTIC CLIENTS:

 

 

AVON COSMETICOS LTDA

 

 

CIA INDUSTRIAL CATAGUASES

 

 

FIAÇÃO ALPINA LTDA

 

 

FIBRALIN TÊXTIL DE TECIDOS S/A

 

 

LANXESS IND. E QUIMICAS E PLASTICOS LTDA

 

 

MINASA TRADING INTERNATIONAL S/A

 

 

PETENATI S/A INDÚSTRIA TÊXTIL

 

 

POLLY-SEL PRODUTOS QUÍMICOS LTDA

 

 

SANTA COSTANCIA TECELAGEM S/A

 

 

TIMAVO DO BRASIL S/A INDUSTRIA TÊXTIL

 

 

Y.K.K. DO BRASIL LTDA

 

 

 

STAFF:

 

THE COMPANY HAS: 76 EMPLOYEE(S)

 

CONCEPT AND FULFILMENT

 

THE SUBJECT IS A WELL-ESTABLISHED COMPANY, OPERATING SINCE 1998. SO FAR IT HAS A CLEAR TRADE HISTORY AND NO PAYMENT PROBLEMS ARE NOTED.

 

THE COMPANY HAS TRADE RELATIONS WITH SEVERAL SUPPLIERS IN BRAZIL. THE SUPPLIERS EXTEND CREDIT FACILITIES TO THE SUBJECT IN TERMS AND AMOUNTS ACCORDING TO THE COMPANY'S NEEDS AND SO FAR NO PAYMENT PROBLEMS ARE NOTED.

 

THE LAWSUIT REPORTED IS NOT RELATED WITH TRADE DEBT. IT IS RELATED TO TAX DEBT THAT FOR ANY REASON THE COMPANY HAS NOT YET PAID. NEVERTHELESS WE POINT OUT THAT THE SAID LAWSUIT DOES NOT AFFECT THE COMPANY'S TRADE REPUTATION.

 

MAIN SUPPLIERS:

 

 

 

 

 

DOMESTIC SUPPLIERS:

 

PHONE:

BANDEIRANTES QUIMICA LTDA

 

19 3865-9500

BASF S/A

 

11 4343-3079

CLARIANT S/A

 

11 5683-7525

OXITENO S/A INDÚSTRIA E COMÉRCIO

 

11 3177-6318

ROHM AND HAAS

 

11 5185-9068

WACKER QUIMICA DO BRASIL LTDA

 

11 4789-8300

 

FOREIGN SUPPLIERS:

COUNTRY:

 

ALBEMARLE INTERNATIONAL CORPORATION

UNITED STATES

 

ERCA ESPERIENZE RICERCHE CHIMICHE APLICATE S.P.A

ITALY

 

TESSENDERLO CEIME S/A

BELGIUM

 

 

PAYMENT HISTORY

 

5 SUPPLIERS REPORTED PAYMENTS:

   TOTAL AMOUNT:  R$ 250.678,00

 

AMOUNT OF INVOICES PAID: 32

TOTAL OF PROMPT PAYMENTS: 100%

HIGHEST INVOICE: R$ 46.740,00

HIGHEST CREDIT: R$ 46.740,00

 

OUTSTANDING INVOICES DUE WITHIN THE NEXT 30 DAYS:

 

---------------------------

SUPPLIERS:

INVOICES:

TOTAL AMOUNT:

DUE WITHIN 30 DAYS

1

1

R$ 18.096,00

 

FINAL OPINION

 

THE SUBJECT IS A WELL-ESTABLISHED COMPANY IN BUSINESS FOR SEVERAL YEARS. UP TO DATE IT HAS A CLEAR TRADE HISTORY AND GOOD PAYMENT PERFORMANCE.

 

BASED ON THE GENERAL INFORMATION AVAILABLE IT IS BELIEVED THAT GOOD TRADE RELATIONS MAY BE ESTABLISHED. CREDIT FACILITIES MAY BE EXTENDED WITHIN TERMS AND AMOUNTS ADEQUATE TO THE COMPANY'S FINANCIAL STRENGTH.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.64

UK Pound

1

Rs.87.45

Euro

1

Rs.72.65

 

INFORMATION DETAILS

 

Report Prepared by :

NLM

 

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%)

 

 

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