MIRA
INFORM REPORT
|
Report Date : |
25.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
GASKET INTERNATIONAL SPA |
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Registered Office : |
Via Colleoni 5/C Cividino Castelli Calepio, 24060 |
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Country : |
Italy |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
23.12.2004 |
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Com. Reg. No.: |
04651650964 |
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Legal Form : |
Public Subsidiary |
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Line of Business : |
Subject is engaged in manufacture of machinery for working
soft rubber or plastics |
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No. of Employees : |
128 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made on
e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Italy |
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 |
ITALY - ECONOMIC OVERVIEW
Italy has a diversified industrial economy, which is divided
into a developed industrial north, dominated by private companies, and a
less-developed, highly subsidized, agricultural south, where unemployment is
high. The Italian economy is driven in large part by the manufacture of
high-quality consumer goods produced by small and medium-sized enterprises,
many of them family-owned. Italy also has a sizable underground economy, which
by some estimates accounts for as much as 17% of GDP. These activities are most
common within the agriculture, construction, and service sectors. Italy is the
third-largest economy in the euro-zone, but its exceptionally high public debt
and structural impediments to growth have rendered it vulnerable to scrutiny by
financial markets. Public debt has increased steadily since 2007, topping 126%
of GDP in 2012, and investor concerns about the broader euro-zone crisis at
times have caused borrowing costs on sovereign government debt to rise to
euro-era. During the second half of 2011 the government passed three austerity
packages to reduce its budget deficit and help bring down borrowing costs.
These measures included a hike in the value-added tax, pension reforms, and
cuts to public administration. The government also faces pressure from
investors and European partners to sustain its recent efforts to address
Italy's long-standing structural impediments to growth, such as labor market
inefficiencies and widespread tax evasion. In 2012 economic growth and labor
market conditions deteriorated, with growth at -2.3% and unemployment rising to
nearly 11%, with youth unemployment around 35%. The government has undertaken
several reform initiatives designed to increase long-term economic growth.
Italy's GDP is now 7% below its 2007 pre-crisis level.
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Source
: CIA |
Company name and address
GASKET INTERNATIONAL SPA
|
Via Colleoni 5/C Cividino Castelli Calepio, 24060 Italy
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Business Description
Gasket International SpA is primarily engaged in manufacture
of machinery for working soft rubber or plastics or for the manufacture of
products of these materials (extruders, moulders, pneumatic tyre making or
retreading machines and other machines for making a specific rubber or plastic
product); manufacture of printing and bookbinding machines; manufacture of
machinery for producing tiles, bricks, shaped ceramic pastes, pipes, graphite
electrodes, blackboard chalk, foundry moulds, etc.; manufacture of moulding
boxes for any material; mould bases; moulding patterns; moulds; manufacture of
dryers for wood, paper pulp, paper or paperboard; manufacture of centrifugal
clothes dryers; manufacture of diverse special machinery and equipment
(machines to assemble electric or electronic lamps, tubes (valves) or bulbs;
machines for production or hot-working of glass or glassware, glass fibre or
yarn; machinery or apparatus for isotopic separation; rope-making machinery,
etc.); and manufacture of industrial robots for multiple uses.
Industry
|
Industry |
|
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ANZSIC 2006: |
2499 -
Other Machinery and Equipment Manufacturing Not Elsewhere Classified |
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ISIC Rev 4: |
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NACE Rev 2: |
2899 - Manufacture
of other special-purpose machinery n.e.c. |
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NAICS 2012: |
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UK SIC 2007: |
2899 -
Manufacture of other special-purpose machinery n.e.c. |
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US SIC 1987: |
3569 -
General Industrial Machinery and Equipment, Not Elsewhere Classified |
Key Executives
|
Name |
Title |
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Giuseppe Girelli |
President |
|
Paolo Bergamini |
Member of the board |
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Luca Girelli |
Member of the board |
|
Enrico Ricotta |
Member of the board |
|
Carlo Luigi Rossi |
Member of the board |
News
|
Title |
Date |
|
WIPO
PUBLISHES PATENT OF GASKET INTERNATIONAL AND ROBERTO SCATTINI FOR "SEALING
SYSTEM FOR INDUSTRIAL VALVES, PARTICULARLY FOR BALL VALVES AND VALVE... |
21-Feb-2013 |
|
WIPO
PUBLISHES PATENT OF GASKET INTERNATIONAL, SCATTINI ROBERTO FOR "SEALING
SYSTEM FOR INDUSTRIAL GATE VALVES AND GATE VALVE COMPRISING SUCH A... |
25-Oct-2012 |
Registered No.(ITA): 04651650964
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate:
USD 1 = EUR 0.770327
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Industry Codes
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ANZSIC 2006 Codes: |
||
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2499 |
- |
Other Machinery and Equipment Manufacturing Not Elsewhere
Classified |
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2299 |
- |
Other Fabricated Metal Product Manufacturing Not Elsewhere
Classified |
|
2592 |
- |
Toy, Sporting and Recreational Product Manufacturing |
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ISIC Rev 4 Codes: |
||
|
2829 |
- |
Manufacture of other special-purpose machinery |
|
2599 |
- |
Manufacture of other fabricated metal products n.e.c. |
|
2811 |
- |
Manufacture of engines and turbines, except aircraft,
vehicle and cycle engines |
|
3230 |
- |
Manufacture of sports goods |
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NACE Rev 2 Codes: |
||
|
2899 |
- |
Manufacture of other special-purpose machinery n.e.c. |
|
2599 |
- |
Manufacture of other fabricated metal products n.e.c. |
|
2811 |
- |
Manufacture of engines and turbines, except aircraft,
vehicle and cycle engines |
|
3230 |
- |
Manufacture of sports goods |
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NAICS 2012 Codes: |
||
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333249 |
- |
Other Industrial Machinery Manufacturing |
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332999 |
- |
All Other Miscellaneous Fabricated Metal Product
Manufacturing |
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33361 |
- |
Engine, Turbine, and Power Transmission Equipment
Manufacturing |
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339920 |
- |
Sporting and Athletic Goods Manufacturing |
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US SIC 1987: |
||
|
3569 |
- |
General Industrial Machinery and Equipment, Not Elsewhere
Classified |
|
351 |
- |
Engines and Turbines |
|
3499 |
- |
Fabricated Metal Products, Not Elsewhere Classified |
|
3949 |
- |
Sporting and Athletic Goods, Not Elsewhere Classified |
|
UK SIC 2007: |
||
|
2899 |
- |
Manufacture of other special-purpose machinery n.e.c. |
|
2599 |
- |
Manufacture of other fabricated metal products n.e.c. |
|
2811 |
- |
Manufacture of engines and turbines, except aircraft,
vehicle and cycle engines |
|
3230 |
- |
Manufacture of sports goods |
Gasket International SpA is primarily engaged in manufacture
of machinery for working soft rubber or plastics or for the manufacture of
products of these materials (extruders, moulders, pneumatic tyre making or
retreading machines and other machines for making a specific rubber or plastic
product); manufacture of printing and bookbinding machines; manufacture of
machinery for producing tiles, bricks, shaped ceramic pastes, pipes, graphite
electrodes, blackboard chalk, foundry moulds, etc.; manufacture of moulding
boxes for any material; mould bases; moulding patterns; moulds; manufacture of
dryers for wood, paper pulp, paper or paperboard; manufacture of centrifugal
clothes dryers; manufacture of diverse special machinery and equipment
(machines to assemble electric or electronic lamps, tubes (valves) or bulbs;
machines for production or hot-working of glass or glassware, glass fibre or
yarn; machinery or apparatus for isotopic separation; rope-making machinery,
etc.); and manufacture of industrial robots for multiple uses.
|
|
|
|
Corporate
Family
Corporate Structure News
Total Corporate Family Members: 3
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
MANDARIN CAPITAL PARTNERS S.C.A. SICAR SCA |
Parent |
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|
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Subsidiary |
Castelli Calepio, Bergamo |
Italy |
Machinery and Equipment Manufacturing |
60.1 |
128 |
|
|
Subsidiary |
Genova, Genova |
Italy |
Basic Chemical Manufacturing |
121.8 |
112 |
Executives Report
Board of Directors
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Member of the board |
Director/Board Member |
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Member of the board |
Director/Board Member |
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Member of the board |
Director/Board Member |
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|
Member of the board |
Director/Board Member |
Executives
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|||
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President |
President |
News
|
WIPO
PUBLISHES PATENT OF GASKET INTERNATIONAL AND ROBERTO SCATTINI FOR "SEALING
SYSTEM FOR INDUSTRIAL VALVES, PARTICULARLY FOR BALL VALVES AND VALVE... |
21-Feb-2013 |
|
WIPO
PUBLISHES PATENT OF GASKET INTERNATIONAL, SCATTINI ROBERTO FOR "SEALING
SYSTEM FOR INDUSTRIAL GATE VALVES AND GATE VALVE COMPRISING SUCH A... |
25-Oct-2012 |
Annual Profit & Loss
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|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate (Period
Average) |
0.71919 |
0.755078 |
0.719047 |
|
Consolidated |
No |
No |
No |
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|
|
|
|
|
Total income |
61.4 |
53.5 |
40.3 |
|
Net sales |
60.1 |
51.5 |
41.3 |
|
Other operating income |
0.9 |
1.0 |
1.3 |
|
Raw materials and consumables employed |
33.1 |
33.5 |
18.7 |
|
Other expenses |
14.3 |
10.2 |
12.3 |
|
Total payroll costs |
8.8 |
9.3 |
10.0 |
|
Fixed asset depreciation and amortisation |
7.1 |
6.4 |
10.2 |
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Other operating costs |
0.5 |
1.0 |
0.4 |
|
Net operating income |
-2.4 |
-6.9 |
-11.4 |
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Total financial income |
0.1 |
0.0 |
0.1 |
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Total expenses |
1.4 |
1.3 |
2.4 |
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Profit before tax |
-3.7 |
-8.1 |
-13.7 |
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Extraordinary result |
- |
- |
-0.2 |
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Profit after extraordinary items and before tax |
-3.7 |
-8.1 |
-13.8 |
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Total taxation |
-0.4 |
-0.6 |
-0.9 |
|
Net loss |
3.3 |
7.6 |
13.0 |
Annual
Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Total stockholders equity |
20.2 |
20.7 |
22.0 |
|
Provision for risks |
0.1 |
0.9 |
1.8 |
|
Provision for pensions |
1.0 |
1.0 |
1.1 |
|
Mortgages and loans |
19.6 |
21.9 |
23.4 |
|
Other long-term liabilities |
0.3 |
0.5 |
2.5 |
|
Trade creditors |
10.7 |
9.7 |
9.5 |
|
Bank loans and overdrafts |
3.8 |
4.7 |
4.2 |
|
Other current liabilities |
8.3 |
10.8 |
9.6 |
|
Accruals and deferred income |
0.2 |
0.3 |
0.2 |
|
Total current liabilities |
23.0 |
25.4 |
23.4 |
|
Total liabilities (including net worth) |
64.2 |
70.5 |
74.3 |
|
Intangibles |
24.0 |
29.7 |
36.5 |
|
Total tangible fixed assets |
2.1 |
2.7 |
3.5 |
|
Long-term investments |
8.0 |
7.7 |
9.5 |
|
Total financial assets |
8.0 |
7.7 |
9.5 |
|
Receivables due after 1 year |
0.0 |
0.0 |
0.0 |
|
Total non-current assets |
34.2 |
40.2 |
49.6 |
|
Finished goods |
4.5 |
4.3 |
3.4 |
|
Net stocks and work in progress |
7.5 |
7.5 |
8.8 |
|
Trade debtors |
17.5 |
16.0 |
9.8 |
|
Other receivables |
4.0 |
6.2 |
4.8 |
|
Cash and liquid assets |
0.7 |
0.1 |
0.9 |
|
Accruals |
0.4 |
0.4 |
0.4 |
|
Total current assets |
30.0 |
30.3 |
24.7 |
|
Total assets |
64.2 |
70.5 |
74.3 |
Annual
Ratios
Financials in: USD (mil)
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
1.30 |
1.20 |
1.10 |
|
Quick ratio |
1.00 |
0.90 |
0.70 |
|
Current liabilities to net worth |
0.01% |
0.01% |
0.01% |
|
Sales per employee |
0.35 |
0.30 |
0.23 |
|
Profit per employee |
-0.02 |
-0.05 |
-0.08 |
|
Average wage per employee |
0.05 |
0.05 |
0.05 |
|
Net worth |
20.2 |
20.7 |
22.0 |
|
Number of employees |
122 |
129 |
132 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.44 |
|
|
1 |
Rs.91.24 |
|
Euro |
1 |
Rs.78.43 |
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.