MIRA INFORM REPORT
|
Report Date : |
08.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
MAGNETROL INTERNATIONAL |
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Registered Office : |
Heikensstraat 6, Zele, 9240 |
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Country : |
Belgium |
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Financials (as on) : |
31.12.2011 |
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Year of Establishments: |
1971 |
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Com. Reg. No.: |
411639987 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Marketing & Sales of Liquid Level & Flow Instrumentation |
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No. of Employees : |
124 |
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 : |
Slow but Correct |
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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) |
|
Belgium |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
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 |
BELGIUM - ECONOMIC OVERVIEW
This modern, open, and private-enterprise-based economy has capitalized on its central geographic location, highly developed transport network, and diversified industrial and commercial base. Industry is concentrated mainly in the more heavily-populated region of Flanders in the north. With few natural resources, Belgium imports substantial quantities of raw materials and exports a large volume of manufactures, making its economy vulnerable to volatility in world markets. Roughly three-quarters of Belgium's trade is with other EU countries, and Belgium has benefited most from its proximity to Germany. In 2011 Belgian GDP grew by 1.8%, the unemployment rate decreased slightly to 7.2% from 8.3% the previous year, and the government reduced the budget deficit from a peak of 6% of GDP in 2009 to 4.2% in 2011 and 3.3% in 2012. Fourth quarter GDP growth in 2012 was at -0.1%, the third consecutive quarter of negative growth. This brought economic growth for the whole of 2012 to negative 0.2%. It also left Belgium on the brink of a possible recession at the end of 2012. However, at year's end, the government appeared close to meeting its 2012 budget deficit goal of 3% of GDP. Despite the relative improvement in Belgium's budget deficit, public debt hovers around 100% of GDP, a factor that has contributed to investor perceptions that the country is increasingly vulnerable to spillover from the euro-zone crisis. Belgian banks were severely affected by the international financial crisis in 2008 with three major banks receiving capital injections from the government, and the nationalization of the Belgian retail arm of a Franco-Belgian bank.
Source
: CIA
Company name & address
Magnetrol International
Heikensstraat 6
Zele, 9240
Belgium
Tel: 052 45 11 11
Fax: 052 45 09 93
Web: www.eu.magnetrol.com
Synthesis
Employees: 124
Company Type: Private Subsidiary
Corporate Family: 15
Companies
Ultimate Parent: Magnetrol
International Inc.
Incorporation Date: 1971
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency: Euro
Annual Sales: 33.2
1
Total Assets: 23.2
Business Description
Marketing & Sales of Liquid Level & Flow Instrumentation
Industry
Industry Scientific and Technical Instruments
ANZSIC 2006: 2419 - Other
Professional and Scientific Equipment Manufacturing
NACE 2002: 3320 - Manufacture
of instruments and appliances for measuring, checking, testing, navigating
and other
purposes, except industrial process control equipment
NAICS 2002: 334513 - Instrument's and Related Products
Manufacturing for Measuring, Displaying, and Controlling Industrial Process
Variable
UK SIC 2003: 3320 - Manufacture
of instruments and appliances for measuring, checking, testing, navigating
and other
purposes, except industrial process control equipment
UK SIC 2007: 2651 - Manufacture
of instruments and appliances for measuring, testing and navigation
US SIC 1987: 3823 - Industrial
Instruments for Measurement, Display, and Control of Process Variables; and
Related Products
Key Executives
|
Name |
Title |
|
John E. Heiser |
Administrator |
|
Mary Saranczak |
Administrator |
|
Jeffrey Swallow |
Administrator |
|
Mario Dekeyser |
Representative/Auditor |
|
John Alexander Geddes |
Representative/Auditor |
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327
Corporate Overview
Location
Heikensstraat 6
Zele, 9240
Belgium
Tel: 052 45 11 11
Fax: 052 45 09 93
Sales EUR(mil): 23.9
Assets EUR(mil): 17.9
Employees: 124
Fiscal Year End: 31-Dec-2011
Industry: Scientific
and Technical Instruments
Incorporation Date: 1971
Company Type: Private
Subsidiary
Quoted Status: Not
Quoted
Registered No.(VAT): 411639987
Administrator: Jeffrey
Swallow
Industry Codes
ANZSIC 2006 Codes:
2419 - Other Professional and Scientific Equipment Manufacturing
NACE 2002 Codes:
3320 - Manufacture of instruments and appliances for measuring,
checking, testing, navigating and other purposes, except industrial process
control equipment
NAICS 2002 Codes:
334513 - Instrument's and Related Products Manufacturing for
Measuring, Displaying, and Controlling Industrial Process Variable
US SIC 1987:
3823 - Industrial Instruments for Measurement, Display, and
Control of Process Variables; and Related Products
UK SIC 2003:
3320 - Manufacture of instruments and appliances for measuring,
checking, testing, navigating and other purposes, except industrial process control
equipment
UK SIC 2007:
2651 - Manufacture of instruments and appliances for measuring,
testing and navigation
Business
Description
Manufacture of other electrical equipment not elsewhere classified
More Business
Descriptions
· Marketing & Sales of Liquid Level & Flow Instrumentation
· Navigational, Measuring, Medical, and Control Instruments Manufacturing
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Corporate Family |
Corporate
Structure News: |
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Magnetrol
International Inc. |
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Magnetrol International |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
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|
Parent |
Downers Grove, IL |
United States |
Scientific and Technical Instruments |
|
400 |
|
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Subsidiary |
Downers Grove, IL |
United States |
Scientific and Technical Instruments |
|
300 |
|
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Subsidiary |
Zele |
Belgium |
Scientific and Technical Instruments |
33.2 |
124 |
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|
Subsidiary |
Overath, Nordrhein-Westfalen |
Germany |
Miscellaneous Capital Goods |
1.0 |
3 |
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Subsidiary |
Naugatuck, CT |
United States |
Scientific and Technical Instruments |
|
50 |
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Subsidiary |
Baton Rouge, LA |
United States |
Miscellaneous Capital Goods |
|
40 |
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Subsidiary |
Sao Paulo |
Brazil |
Scientific and Technical Instruments |
|
26 |
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|
Unit |
Edgewood, NY |
United States |
Business Services |
|
20 |
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Subsidiary |
New Delhi |
India |
Scientific and Technical Instruments |
0.3 |
8 |
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|
Subsidiary |
Milan |
Italy |
Scientific and Technical Instruments |
|
8 |
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Subsidiary |
Shanghai |
China |
Scientific and Technical Instruments |
|
8 |
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Subsidiary |
Concord, ON |
Canada |
Scientific and Technical Instruments |
6.1 |
6 |
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Subsidiary |
Burgess Hill |
United Kingdom |
Miscellaneous Capital Goods |
5.2 |
5 |
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Subsidiary |
Singapore |
Singapore |
Scientific and Technical Instruments |
|
5 |
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Subsidiary |
Downers Grove, IL |
United States |
Business Services |
|
5 |
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Executive report
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Executives |
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Administrator |
Administration Executive |
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Administrator |
Administration Executive |
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Administrator |
Administration Executive |
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Administrator |
Administration Executive |
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Representative/Auditor |
Accounting Executive |
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Representative/Auditor |
Accounting Executive |
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Representative/Auditor |
Accounting Executive |
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New global
distribution agreement for bulk solids measurement technology
Connecting
Industry
6 June, 2013
Magnetrol
International has been designated as a global private label distributor of APM
Automation Solutions' bulk solids measurement technology. The non-contact, dust
penetrating bulk solids measurement technology will now be distributed around
the globe ...
Related Companies:
Magnetrol
International
Belgium : MAGNETROL to distribute APM's bulk solids
measurement technology
Mena Report
22 May, 2013
Magnetrol
International declared that it has concluded a market-changing agreement with
APM Automation Solutions Ltd. (Tel Aviv, Israel) to become a global private label
distributor of APM's groundbreaking bulk solids measurement technology.
As per the
agreement, Magnetrol through its numerous international offices and
distribution network will distribute the non-contact, dust penetrating bulk
solids measurement technology across the world.
Combining the
revolutionary APM technology and Magnetrol's strength and presence in
international markets will boost APM's technology presence and will allow
Magnetrol to secure large segments of the bulk solids measurement market, as
well as complete its product line.
APM CEO Ofir Perl
said, This exciting business partnership is a critical step in a changing
industry that will no longer rely on simple level estimation. With Magnetrol's
global business reach, APM's patented volume measurement technology will now
become the standard of industry for bulk solids measurements.
John Heiser, vice
president and COO of Magnetrol said, This agreement provides a unique strategic
fit. APM is a company that has pioneered the application of low-frequency
acoustic technology to provide a 3-dimensional map and volumetric measurement
of solid material in silos and open bins.
Heiser added, This
novel capability from APM overcomes the limitations associated with
conventional technologies in solids level applications and has the potential to
revolutionize the market. Magnetrol and our channel partners offer a
well-earned reputation as the level supplier of choice for the most difficult
applications. A Magnetrol/APM partnership extends the range of applications
that Magnetrol can solve with our customers to include very difficult solids
inventory measurement, further enhancing our position as the customer s
preferred partner for level controls.
Related Companies:
Automation
Solutions Ltd.
Magnetrol International
MAGNETROL and APM announce a strategic partnership
Connecting
Industry
22 May, 2013
Magnetrol
International and APM Automation Solutions Ltd. (Tel Aviv, Israel) have
completed a market-changing agreement designating Magnetrol as a global private
label distributor of APM's groundbreaking bulk solids measurement technology.
The non-contact, ...
Related Companies:
Automation
Solutions Ltd.
Magnetrol
International
MAGNETROL and APM announce a strategic partnership
Process and Control
Today
20 May, 2013
Magnetrol
International and APM Automation Solutions Ltd. (Tel Aviv, Israel) have
completed a market-changing agreement designating Magnetrol as a global private
label distributor of APM's groundbreaking bulk solids measurement technology.
The non-contact, ...
Related Companies:
Automation
Solutions Ltd.
Magnetrol
International
Magnetrol and APM Announce Strategic Partnership
Oil & Gas
Eurasia
17 May, 2013
Magnetrol
International and APM Automation Solutions Ltd. (Tel Aviv, Israel) have
completed a market-changing agreement designating Magnetrol as a global private
label distributor of APM's groundbreaking bulk solids measurement technology.
The non-contact, ...
Related Companies:
Magnetrol
International Inc.
Automation Solutions
Ltd.
Magnetrol
International
Magnetrol and APM Announce Partnership for Bulk
Solids Measurement Technology
Flow Control Network
8 May, 2013
KEYWORDS Magnetrol International / APM Automation Solutions Email /
Print / Reprints / | More / Text Size+ Larger Smaller [X] Magnetrol
International, Inc., a global leader in level and flow measurement
instrumentation, and APM Automation ...
Related Companies:
Magnetrol International Inc.
Automation Solutions Ltd.
Magnetrol International
Inline paddlewheel
flow meters
Ipsearch.com
4 May, 2013
The IC-LPM series of industrial inline paddlewheel meters from icenta
Controls provides accurate flow rate monitoring over the range of 0.5 to
1200l/min with standard nominal sizes up to 50mm. The IC-LPM series of industrial
inline paddlewheel meters from ...
Related Companies:
Magnetrol
International
Compressed Air
Systems
Magnetrol International Expands!
Engineering
Specifier
25 February, 2013
News Release from:
Magnetrol International Due to its continued strong growth, Magnetrol
International NV is expanding its production and office facilities in Zele
(Belgium) by more than 5.000 sq meters. Completion of the building is foreseen
for May 2014. ...
Related Companies:
Magnetrol
International Inc.
Magnetrol International
Industry News/Magnetrol International Expands!
Engineering
Specifier
25 February, 2013
News Release from:
Magnetrol International Due to its continued strong growth, Magnetrol International
NV is expanding its production and office facilities in Zele (Belgium) by more
than 5.000 sq meters. Completion of the building is foreseen for May 2014. ...
Related Companies:
Magnetrol
International Inc.
Magnetrol
International
Annual Profit & Loss
|
|
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate
(Period Average) |
0.71919 |
0.755078 |
0.719047 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Turnover |
33.2 |
23.2 |
28.8 |
|
Increase or Decrease in Stocks of Finished
Goods, and Orders in Progress |
0.5 |
0.4 |
-1.1 |
|
Other Operating Income |
1.0 |
3.1 |
3.9 |
|
Operating Income |
34.7 |
26.7 |
31.6 |
|
Purchases |
12.6 |
10.2 |
9.5 |
|
Increase or Decrease
in Stocks |
-0.4 |
-0.9 |
0.1 |
|
Raw Materials, Consumables, and Goods for
Release |
12.2 |
9.3 |
9.6 |
|
Services and Sundry Goods |
7.2 |
4.2 |
4.4 |
|
Remuneration, Social Security Charges, and
Pensions |
11.7 |
10.3 |
10.2 |
|
Depreciation of and Other Amounts Written Off
of Formation Expense, Intangible and Tangible Fixed Assets |
0.3 |
0.3 |
0.3 |
|
Increase or Decrease in Amounts Written Off Stocks,
Orders, and Trade Debtors |
-0.2 |
-0.2 |
0.1 |
|
Provisions for Liabilities and Charges |
0.1 |
-0.1 |
- |
|
Other Operating Charges |
0.0 |
1.8 |
1.7 |
|
Operating Charges |
31.2 |
25.6 |
26.4 |
|
Income From Current Assets |
0.1 |
0.1 |
0.0 |
|
Other Financial Income |
0.5 |
0.9 |
0.8 |
|
Financial Income |
0.6 |
0.9 |
0.8 |
|
Interest and Other Debt Charges |
0.0 |
0.1 |
0.1 |
|
Other Financial Charges |
0.9 |
0.6 |
0.8 |
|
Financial Charges |
0.9 |
0.6 |
0.9 |
|
Gain on Disposal of Fixed Assets |
0.0 |
0.0 |
- |
|
Other Extraordinary Income |
0.0 |
0.4 |
0.7 |
|
Extraordinary Income |
0.1 |
0.4 |
0.7 |
|
Loss on Disposal of Fixed Assets |
- |
- |
0.0 |
|
Other Extraordinary Charges |
0.0 |
0.0 |
0.0 |
|
Extraordinary Charges |
0.0 |
0.0 |
0.1 |
|
Income Taxes |
0.9 |
0.8 |
2.1 |
|
Income Taxes |
0.9 |
0.8 |
2.1 |
|
Employees |
124 |
113 |
109 |
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 |
|
Land & Buildings |
0.8 |
0.7 |
0.8 |
|
Plant, Machinery, and
Equipment |
0.3 |
0.3 |
0.3 |
|
Furniture and Vehicles |
0.2 |
0.2 |
0.3 |
|
Tangible Assets |
1.2 |
1.2 |
1.5 |
|
Amounts Receivable and
Cash Guarantees |
0.1 |
0.1 |
0.0 |
|
Other Capital Assets |
0.1 |
0.1 |
0.0 |
|
Capital Assets |
0.1 |
0.1 |
0.0 |
|
Fixed Assets |
1.3 |
1.3 |
1.5 |
|
Raw Materials and
Consumables |
2.0 |
1.7 |
1.6 |
|
Work in Progress |
1.7 |
0.9 |
0.5 |
|
Finished Goods |
0.9 |
1.2 |
0.6 |
|
Goods Purchased for
Resale |
0.0 |
0.0 |
0.0 |
|
Stocks |
4.6 |
3.8 |
2.7 |
|
Inventory and Orders in Progress |
4.6 |
3.8 |
2.7 |
|
Trade Debtors |
10.4 |
8.2 |
8.8 |
|
Other Amounts
Receivable |
0.5 |
0.5 |
1.8 |
|
Amounts Receivable Within One Year |
10.9 |
8.6 |
10.6 |
|
Liquid Assets |
6.2 |
6.1 |
5.2 |
|
Adjustment Accounts |
0.3 |
0.2 |
0.2 |
|
Current Assets |
21.9 |
18.8 |
18.6 |
|
Total Assets |
23.2 |
20.1 |
20.1 |
|
Issued Capital |
1.7 |
1.8 |
1.9 |
|
Capital |
1.7 |
1.8 |
1.9 |
|
Legal Reserve |
0.2 |
0.2 |
0.2 |
|
Untaxed Reserves |
0.1 |
0.1 |
0.1 |
|
Reserves |
0.2 |
0.3 |
0.3 |
|
Pensions and Similar
Obligations |
0.1 |
0.0 |
0.0 |
|
Other Liabilities and
Charges |
0.3 |
0.3 |
0.4 |
|
Provisions for
Liabilities and Charges |
0.4 |
0.3 |
0.5 |
|
Provisions and Deferred Taxes |
0.4 |
0.3 |
0.5 |
|
Capital and Reserves |
15.8 |
14.1 |
14.0 |
|
Suppliers |
0.0 |
- |
- |
|
Trade Debts |
0.0 |
- |
- |
|
Amounts Due After More Than One Year |
0.0 |
- |
- |
|
Suppliers |
4.7 |
2.6 |
0.8 |
|
Trade Debts |
4.7 |
2.6 |
0.8 |
|
Advances Received on
Orders in Progress |
0.1 |
0.2 |
0.0 |
|
Taxes |
0.3 |
0.9 |
2.4 |
|
Remuneration and
Social Security |
1.6 |
1.4 |
1.5 |
|
Taxes, Wages, and Social
Security |
1.9 |
2.2 |
3.9 |
|
Amounts Payable Within One Year |
6.6 |
5.1 |
4.8 |
|
Adjustment Accounts |
0.4 |
0.6 |
0.9 |
|
Creditors |
7.0 |
5.7 |
5.7 |
|
Total Liabilities + Shareholders' Equity |
23.2 |
20.1 |
20.1 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.74 |
|
UK Pound |
1 |
Rs.88.53 |
|
Euro |
1 |
Rs.75.20 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.