|
Report Date : |
04.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
NUCOR TRADING SA |
|
|
|
|
Registered Office : |
Avenue J.-J. Rousseau 7 2000 Neuchâtel/NE |
|
|
|
|
Country : |
Switzerland/CH |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
10.05.1988 |
|
|
|
|
Com. Reg. No.: |
645.1.001.400-1 / 362094 |
|
|
|
|
Legal Form : |
Company limited by shares |
|
|
|
|
Line of Business : |
Subject is an international trading company active around the world in
ferrous products such as finished and semi-finished steel. |
|
|
|
|
No. of Employees : |
15 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
Payment Behaviour : |
No Complaints |
|
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) |
|
Switzerland/CH |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SWITZERLAND - ECONOMIC OVERVIEW
Switzerland is a peaceful, prosperous, and modern market
economy with low unemployment, a highly skilled labor force, and a per capita
GDP among the highest in the world. Switzerland's economy benefits from a
highly developed service sector, led by financial services, and a manufacturing
industry that specializes in high-technology, knowledge-based production. Its
economic and political stability, transparent legal system, exceptional
infrastructure, efficient capital markets, and low corporate tax rates also
make Switzerland one of the world's most competitive economies. The Swiss have
brought their economic practices largely into conformity with the EU's to
enhance their international competitiveness, but some trade protectionism
remains, particularly for its small agricultural sector. The fate of the Swiss
economy is tightly linked to that of its neighbors in the euro zone, which
purchases half of all Swiss exports. The global financial crisis of 2008 and
resulting economic downturn in 2009 stalled export demand and put Switzerland
in a recession. The Swiss National Bank (SNB) during this period effectively
implemented a zero-interest rate policy to boost the economy as well as prevent
appreciation of the franc, and Switzerland's economy recovered in 2010 with
3.0% growth. The sovereign debt crises currently unfolding in neighboring
euro-zone countries pose a significant risk to Switzerland's financial
stability and are driving up demand for the Swiss franc by investors seeking a
safe-haven currency. The independent SNB has upheld its zero-interest rate
policy and conducted major market interventions to prevent further appreciation
of the Swiss franc, but parliamentarians have urged it to do more to weaken the
currency. The franc's strength has made Swiss exports less competitive and
weakened the country's growth outlook; GDP growth fell to 1.9% in 2011 and 0.8%
in 2012. Switzerland has also come under increasing pressure from individual
neighboring countries, the EU, the US, and international institutions to reform
its banking secrecy laws. Consequently, the government agreed to conform to
OECD regulations on administrative assistance in tax matters, including tax
evasion. The government has renegotiated its double taxation agreements with
numerous countries, including the US, to incorporate the OECD standard, and is
considering the possibility of imposing taxes on bank deposits held by
foreigners. These steps will have a lasting impact on Switzerland's long
history of bank secrecy.
|
Source
: CIA |
NUCOR TRADING SA
avenue J.-J.
Rousseau 7
2000 Neuchâtel/NE
Switzerland/CH
Telephone: 032
7238090
Fax: 032
7108804
Web
site: http://www.nucortrading.com
E-mail: all@nucortrading.com
VAT-No.: CHE101460563
Established: 1988
Line
of Business: Trade brokers
Industry
Division: Wholesale trade
Industry-code (NACE): 4612 Agents involved in the sale of fuels,
ores, metals and industrial chemicals
Import/Export: Agency
Banks: unknown
Coverage: Company
Figures: estimated
Employees: 15
Sales: CHF 100-200 Mio
Nucor Trading is an international trading
company active around the world in ferrous products such as finished and
semi-finished steel.
Information on property ownership was not
available.
Company
No: 645.1.001.400-1 / 362094
Legal
form: Company limited by
shares
Registration: 10.05.1988
Legal
status: active
Responsible
Register: Registre du commerce du canton
de Neuchâtel
History: Date of Statutes:
30.08.1995
Date of
Incorporation Statutes: 05.05.1988
Date of
Statutes: 20.08.2009
Date of
Statutes: 27.06.2006
Date of
Statutes: 25.08.2005
Date of
Statutes: 21.12.2004
Date of
Statutes: 17.05.2000
Entry Deleted Name
24.08.2009 Nucor
Trading SA
24.08.2009 Nucor
Trading Ltd (Name translated)
24.08.2009 Nucor
Trading AG (Name translated)
24.08.2009 Novosteel SA
removed Novo-Plez SA
Entry Deleted Legal domicile
active Neuchâtel,
Switzerland
Entry Deleted Address
21.05.2001 Avenue
J.-J. Rousseau 7, 2000 Neuchâtel/NE, Switzerland/CH
21.05.2001 Ruelle Dublé 3, 2000 Neuchâtel/NE,
Switzerland/CH
Entry Deleted Capital
active Share
Capital CHF 100'000, paidup CHF 100'000
Entry Deleted Capital Structure
29.12.2004 100
Registered shares of CHF 1'000.--
Entry Deleted Activity (original Language)
03.07.2006 Import,
export, achat et vente d'aciers en tous genres, soit produits bruts et
semi-finis. Se porter caution et garantir des engagements de tiers.
03.07.2006 Import, export, achat et vente d'aciers en
tous genres, soit produits bruts et semi-finis.
Entry Deleted Remarks (original Language)
active Publishing
authority: FOSC.
active Board
of directors: Un ou plusieurs membres.
24.08.2009 Reports:
Communications aux actionnaires: FOSC, lettre recommandée, téléfax ou courrier
électronique, au choix du Conseil d'administration.
31.08.2005 Reports:
Convocations des actionnaires: par lettre recommandée adressée à chaque
actionnaire, ou par un avis inséré dans la Feuille officielle suisse du
commerce ou par téléfax, au choix du conseil d'administration.
Official
Administration
Title Name
President Richard Kyle
Blume II, Origin: United States of America, Residential address: Charlotte, United
States of America, single signature, Registered since: 24.08.2012
Vice-President,
Chief Executive Michael Setterdahl,
Origin: Sweden, Residential address: 2000 Neuchâtel /NE, Switzerland, single
signature
Director Robert
Joseph Jr Stratman, Origin: United States of America, Residential address:
Waxhaw, United States of America, single signature, Registered since:
04.08.2009
Management
Title Name
General
Director Anders
Johan Vilhelm Lundberg, Origin: Sweden, Residential address: Lausanne,
Switzerland, single signature, Registered since: 24.04.2013
General
Director Evan
Benjamin Rohr, Origin: Hunzenschwil, Switzerland, Residential address:
Neuchâtel, Switzerland, single signature, Registered since: 24.04.2013
External Positions
Title Name
Auditor PricewaterhouseCoopers
SA, Residential address: Pully, Switzerland, Id: CH-550-0056305-7, Registered
since: 28.07.2008
Executive board
Title Name
Chief
Executive Officer Michael
Setterdahl (michael@novosteel.ch)
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2012 31.12.2011 31.12.2010 31.12.2009 31.12.2008
Number of months: 12 12 12 12 12
Currency: th.
USD th. USD th. USD th. USD th.
USD
Balance Sheet
Intangible fixed
assets 2'963'778.0 2'615'301.0 2'692'419.0 2'705'943.0 2'678'590.0
Other tangible
fixed assets 4'013'836.0 4'131'861.0
Tangible fixed
assets 4'283'056.0 3'755'604.0 3'852'118.0 4'013'836.0 4'131'861.0
Financial fixed
assets 598'482.0
other fixed assets 1'243'861.0 1'491'364.0 917'716.0 669'877.0 666'506.0
Fixed assets 8'490'695.0 7'862'269.0 8'060'735.0 7'389'656.0 7'476'957.0
Stocks 2'323'641.0 1'987'257.0 1'557'574.0 1'312'903.0 2'408'157.0
Trade accounts
receivable 1'707'317.0 1'710'773.0 1'439'828.0 1'116'035.0 1'228'807.0
Liquid assets 1'052'862.0 1'200'645.0 1'325'406.0 2'016'981.0 2'355'130.0
Securities 104'167.0 1'362'641.0 1'153'623.0 225'000.0
other trade
accounts 473'377.0 446'765.0 384'744.0 511'329.0 405'392.0
Other current
assets 1'630'406.0 3'010'051.0 2'863'773.0 2'753'310.0 2'760'522.0
Current assets 5'661'364.0 6'708'081.0 5'861'175.0 5'182'248.0 6'397'486.0
Total assets 14'152'059.0 14'570'350.0 13'921'910.0 12'571'904.0 13'874'443.0
Capital 1'962'264.0 1'907'030.0 1'861'699.0 1'825'654.0 1'779'609.0
Other shareholders
funds 5'679'307.0 5'567'855.0 5'258'371.0 5'564'872.0 6'149'595.0
Total shareholders
equity 7'641'571.0 7'474'885.0 7'120'070.0 7'390'526.0 7'929'204.0
Minority interests 243'803.0 231'695.0 210'624.0 193'763.0 327'477.0
long term debt
(financial debts) 3'380'200.0 3'630'200.0 4'280'200.0 3'080'200.0 3'086'200.0
Other non current
liabilities 856'917.0 837'511.0 806'578.0 680'358.0 677'370.0
Non current
liabilities 4'237'117.0 4'467'711.0 5'086'778.0 3'760'558.0 3'763'570.0
short term debt
(financial debts) 279'912.0 651'826.0 13'328.0 7'748.0 189'022.0
Trade accounts
payable 1'046'713.0 958'645.0 896'703.0 707'038.0 534'161.0
Accruals 279'898.0 333'341.0 207'168.0 154'997.0 580'090.0
other accounts
payable 423'045.0 452'247.0 387'239.0 357'274.0 550'919.0
other current
liabilities 702'943.0 785'588.0 594'407.0 512'271.0 1'131'009.0
Current
liabilities 2'029'568.0 2'396'059.0 1'504'438.0 1'227'057.0 1'854'192.0
Shareh. equity,
min. interests + liabilities 14'152'059.0 14'570'350.0 13'921'910.0 12'571'904.0 13'874'443.0
Profit and loss
account
Sales 19'429'273.0 20'023'564.0 15'844'627.0 11'190'296.0 23'663'324.0
Net sales 19'429'273.0 20'023'564.0 15'844'627.0 11'190'296.0 23'663'324.0
Operating revenue 19'429'273.0 20'023'564.0 15'844'627.0 11'190'296.0 23'663'324.0
Cost of goods sold 17'915'735.0 18'074'967.0 15'000'962.0 11'035'903.0 19'612'283.0
Gross profit 1'513'538.0 1'948'597.0 843'665.0 154'393.0 4'051'041.0
Other operating
expenses 484'900.0 530'691.0 423'457.0 351'278.0 819'247.0
Operating result 1'028'638.0 1'417'906.0 420'208.0 -196'885.0 3'231'794.0
Interest revenues 11'128.0 12'718.0 8'047.0
Financial income 11'128.0 12'718.0 8'047.0 0.0 0.0
Interest expenses 173'503.0 178'812.0 161'140.0 134'752.0 90'483.0
other financial
expenses 13'323.0 82'341.0 36'920.0
Financial expenses 186'826.0 178'812.0 161'140.0 217'093.0 127'403.0
Financial result -175'698.0 -166'094.0 -153'093.0 -217'093.0 -127'403.0
Result before
extraordinary items 852'940.0 1'251'812.0 267'115.0 -413'978.0 3'104'391.0
Extraordinary
Result 0.0 0.0 0.0 0.0 0.0
Result before
taxes 852'940.0 1'251'812.0 267'115.0 -413'978.0 3'104'391.0
Taxes 259'814.0 390'828.0 60'792.0 -176'800.0 959'480.0
Result before
minority interests 593'126.0 860'984.0 206'323.0 -237'178.0 2'144'911.0
minority interests 88'507.0 82'796.0 72'231.0 56'435.0 313'921.0
Result for the
financial year 504'619.0 778'188.0 134'092.0 -293'613.0 1'830'990.0
Cash flow
Depreciation 534'010.0 522'571.0 512'147.0 494'035.0 479'484.0
Cash flow 1'222'367.0 1'383'555.0 718'470.0 256'857.0 2'624'395.0
Cash flow from
operating activities 1'200'385.0 1'032'612.0 873'404.0 1'182'297.0 2'498'728.0
Investments in
tangible fixed assets 947'608.0 440'502.0 345'294.0
Cash flow from
investing activities -203'995.0 -661'447.0 -2'262'365.0 -700'412.0 -3'320'686.0
Cash flow from
financing activities -1'146'877.0 -495'022.0 691'828.0 -820'034.0 1'783'145.0
Others 2'704.0 -904.0 5'558.0
Change in
liquidity -147'783.0 -124'761.0 -691'575.0 -338'149.0 961'187.0
Liquidity at
beginning of the year 1'200'645.0 1'325'406.0 2'016'981.0 2'355'130.0 1'393'943.0
Liquidity at end
ot the year 1'052'862.0 1'200'645.0 1'325'406.0 2'016'981.0 2'355'130.0
Notes
Added value 1'560'453.0 1'953'195.0 940'402.0 214'809.0 3'674'358.0
Working Capital 2'984'245.0 2'739'385.0 2'100'699.0 1'721'900.0 3'102'803.0
Sales per Employee 875.2 962.7 772.9 548.5
Gross cost land
and buildings 2'278'433.0 1'753'467.0 1'266'426.0 1'585'451.0 1'943'213.0
Gross cost other
tangible fixed assets 8'160'140.0 7'727'630.0 7'826'048.0 7'212'984.0 6'540'426.0
Gross cost total 10'438'573.0 9'481'097.0 9'092'474.0 8'798'435.0 8'483'639.0
Employees at year end 22'200 20'800 20'500 20'400
Name: Nucor Corporation
City/Country: Charlotte/North Carolina, United
States of America/US
No.
of Owner/-s: 2
Owner: The company is foreign
owned.
Class: 50-99%
Name: Harris Steel Holding
(Schweiz) AG
City/Country: Neuchâtel/NE, Switzerland/CH
No.
of shares: 75
Interest: 75.00% voting right,
75.00% capital interest (since 2005)
Class: 20-29%
Name: SERIMNER HOLDING SA
City/Country: Neuchâtel/NE, Switzerland/CH
No.
of shares: 25
Interest: 25.00% voting right,
25.00% capital interest
Name: Novofer SA
City/Country: Neuchâtel/NE, Switzerland/CH
Class: 100%
Name: Novologistics Sàrl
City/Country: Neuchâtel/NE, Switzerland/CH
Interest: 100.00% voting right,
100.00% capital interest
Class: 20-29%
Name: Novofer SA
City/Country: Neuchâtel/NE, Switzerland/CH
Interest: 25.00% voting right,
25.00% capital interest
The business of Nucor Trading S.A. is
financed by uncommitted trade credit arrangements with a number of European
banking institutions. As of December 31, 2012, Nucor Trading S.A. had outstanding
borrowings of $27.1 million and outstanding guarantees of $0.1 million. In
addition, $21.5 million of the amount outstanding at December 31, 2012 (none at
December 31, 2011) was guaranteed by Nucor. If Nucor Trading S.A. fails to pay
when due any amounts for which it is obligated, Nucor could be required to pay
such amounts pursuant to and in accordance with the terms of the guarantee.
Letters of credit totaling $27.2 million
were outstanding as of December 31, 2012 related to certain obligations,
including workers’ compensation, utilities deposits and credit arrangements by
Nucor Trading S.A. for commitments to purchase inventories.
10K on attachments,
CHARLOTTE, N.C., Jan 26, 2010 /PRNewswire
via COMTEX/ -- Nucor Corporation (NYSE: NUE) announced today consolidated net
earnings of $58.9 million or $0.18 per diluted share, for the fourth quarter of
2009, an improvement over losses of $0.60, $0.43 and $0.10 per diluted share in
the first, second and third quarters of 2009, respectively. The results compare
to a net income of $105.9 million or $0.34 per diluted share for the fourth
quarter of 2008.
For the full year of 2009, Nucor reported a
consolidated net loss of $293.6 million or $0.94 per diluted share, compared
with net earnings of $1.83 billion or $5.98 per diluted share for 2008.
In the fourth quarter of 2009, Nucor's
consolidated net sales decreased 6% to $2.94 billion compared with $3.12
billion in the third quarter of 2009 and decreased 29% compared with $4.15 billion
in the fourth quarter of 2008. Average sales price per ton increased 4% from
the third quarter of 2009 and decreased 35% from the fourth quarter of 2008.
Total tons shipped to outside customers were 4,638,000 tons in the fourth
quarter of 2009, a decrease of 9% from the third quarter of 2009 and an
increase of 8% over last year's fourth quarter.
For the full year 2009, Nucor's consolidated
net sales decreased 53% to $11.19 billion, compared with $23.66 billion for
2008. Average sales price per ton decreased 32% while total tons shipped to
outside customers decreased 30% from 2008 levels.
As discussed in our guidance, fourth quarter
results were significantly impacted by reduced earnings in our downstream, long
products and scrap businesses; however, the sheet mills benefited from the
absence of high-cost pig iron inventories. The average scrap and scrap
substitute cost per ton used in the fourth quarter of 2009 was $276, a decrease
of 8% compared with $299 in the third quarter and a decrease of 37% from $435
in the fourth quarter of 2008. For the full year 2009, the average scrap and
scrap substitute cost per ton used was $303, a decrease of 31% from $438 in
2008.
In the fourth quarter of 2009, Nucor
recorded a credit to value inventories using the last-in, first-out (LIFO)
method of accounting of $116.9 million, compared with a credit of $120 million
in the third quarter of 2009 and a credit of $81.2 million in the fourth
quarter of 2008. For the full year 2009, the LIFO credit was $466.9 million,
compared with a charge of $341.8 million in 2008.
Overall steel mill utilization decreased
from 69% in the third quarter of 2009 to 58% in the fourth quarter of 2009, and
increased from 48% in last year's fourth quarter. Steel mill utilization rates
decreased from 80% for the full year 2008 to 54% for the full year 2009. The
quarter over quarter decrease in utilization was due to fourth quarter seasonal
issues that are separate of the general economic slowdown due to the holidays
and year-end plant shutdowns by some of our customers.
Total energy costs in the fourth quarter of
2009 increased approximately $3 per ton from the third quarter of 2009 due to
higher natural gas prices coupled with reduced productivity. Total energy costs
decreased approximately $5 per ton from the fourth quarter of 2008 to the
fourth quarter of 2009. For the full year 2009, total energy costs increased
approximately $1 per ton from 2008.
Pre-operating and start-up costs of new
facilities decreased from $53.8 million in the fourth quarter of 2008 to $48.1
million in the fourth quarter of 2009 and increased from $128.6 million in 2008
to $160.0 million in 2009. In 2009, these costs primarily related to the SBQ
mill in Memphis, Tennessee, the Castrip(R) project in Blytheville, Arkansas,
the proposed iron-making facility, and the galvanizing line in Decatur,
Alabama.
Our liquidity position remains strong with
$2.24 billion in cash and cash equivalents and short-term investments and an
untapped $1.3 billion revolving credit facility that matures in November 2012.
Moody's ( MCO - news - people ) cut Nucor (
NUE - news - people ) unsecured debt rating one notch to A2 from A1 and
affirmed the steel maker's Prime-1 short-term debt rating. The unsecured debt rating
remains investment grade.
Nucor said its fourth-quarter earnings
tumbled 44 percent to $58.9 million, or 18 cents per share. It cited soft
demand for construction products.
Moody's said the company continues to have
strong liquidity, with $2.2 billion in cash and short-term investments as of
the end of last year. However, it said the company's performance will continue
to reflect weak demand for steel, especially in nonresidential construction
markets.
Control date Year No. Amount CHF Status
31.12.2002 2002 1 18'000.-- Legal actions
An updated legal action check is only
available against proof of interest. e.g. a copy of an enquiry letter, and
order or invoice relating to the subject company.
Financial
Statements: The company does not
disclose any financial statements. Third parties are not permitted any insight
into the financial affairs. It is therefore difficult to make a proper
assessment of the actual situation.
Financial
Situation: The financial situation
is considered to be very good.
Payment
experiences: Payment habits are
considered good.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.57 |
|
|
1 |
Rs.86.15 |
|
Euro |
1 |
Rs.73.64 |
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.