MIRA INFORM REPORT
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Report Date : |
29.06.2013 |
IDENTIFICATION DETAILS
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Name : |
FERMIC S.A. DE C.V. |
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Registered Office : |
Reforma 873, Col. San Nicolás Tolentino, Delg. Iztapalapa 09850 |
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Country : |
México |
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Date of Incorporation : |
12.05.1966 |
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Legal Form : |
Stock Company of Variable Capital |
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Line of Business : |
Subject is engaged in manufacture and processing of raw material for
antibiotics intended for the livestock sector and human use. |
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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 : |
Satisfactory |
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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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Mexico |
A2 |
A2 |
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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 |
MEXICO - ECONOMIC OVERVIEW
Mexico has a free market economy in the trillion dollar class.
It contains a mixture of modern and outmoded industry and agriculture,
increasingly dominated by the private sector. Recent administrations have
expanded competition in seaports, railroads, telecommunications, electricity
generation, natural gas distribution, and airports. Per capita income is
roughly one-third that of the US; income distribution remains highly unequal.
Since the implementation of the North American Free Trade Agreement (NAFTA) in
1994, Mexico's share of US imports has increased from 7% to 12%, and its share
of Canadian imports has doubled to 5.5%. Mexico has free trade agreements with
over 50 countries including Guatemala, Honduras, El Salvador, the European Free
Trade Area, and Japan - putting more than 90% of trade under free trade
agreements. In 2012 Mexico formally joined the Trans-Pacific Partnership
negotiations and in July it formed the Pacific Alliance with Peru, Colombia and
Chile. In 2007, during its first year in office, the Felipe CALDERON
administration was able to garner support from the opposition to successfully
pass pension and fiscal reforms. The administration passed an energy reform
measure in 2008 and another fiscal reform in 2009. Mexico's GDP plunged 6.2% in
2009 as world demand for exports dropped, asset prices tumbled, and remittances
and investment declined. GDP posted positive growth of 5.6% in 2010 with
exports - particularly to the United States - leading the way. Growth slowed to
3.9% in 2011 and slightly recovered to 4% in 2012. In November 2012, Mexico's legislature
passed a comprehensive labor reform which was signed into law by former
President Felipe CALDERON. Mexico's new PRI government, led by President
Enrique PENA NIETO, has said it will prioritize structural economic reforms and
competitiveness. The new president signed the Pact for Mexico, an agreement
that lists 95 priority commitments, along with the leaders of the country's
three main political parties: the Institutional Revolutionary Party (PRI), the
National Action Party (PAN) and the Party of the Democratic Revolution (PRD).
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Source
: CIA |
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CORRECT COMPANY NAME |
FERMIC S.A. DE C.V. |
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TRADE NAME |
FERMIC |
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TAXPAYER REGISTRATION |
RFC FER660512JT7 |
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MAIN ADDRESS |
Reforma 873, Col. San Nicolás Tolentino, Delg. Iztapalapa |
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POSTAL CODE |
09850 |
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DEPT/PROV/REGION/STATE |
México DF |
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COUNTRY |
MEXICO |
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TELEPHONE |
(5255) 50370000 - 50370001 |
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CORPORATE E-MAIL |
dfalzoni@fermic.com.mx |
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WEB |
www.fermic.com.mx |
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COMMENTS |
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Other Other e-mails: dfalzoni@fermic.com.mx gsarra@fermic.com.mx flara@fermic.com.mx |
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Date of foundation |
1966 |
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permanent employees |
350 |
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Chief Executive |
ALARCON BENET, FERNANDO |
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Disposition |
Poor. Very few information was given. Politely. |
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Payments policy |
Usually to terms/good |
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Credit (**) |
MODERATE RISK. (Acceptable financial situation but limited). |
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Number of times that this company was required: 7 |
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LEGAL STATUS |
Stock Company of Variable Capital |
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DATE OF INCORPORATION |
12MAY1966 |
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PLACE OF REGISTRY |
Mexico DF |
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CURRENT EXCHANGE RATE (US$) |
Ps$13.35 per 1 USD |
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MEMBERSHIP |
Cámara Arabe Mexicana de Industria y Comercio |
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COMMENTS |
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FERMIC MEXICO is a member of - Asociación Mexicana de Empresas de Biotecnología A.C. ASEMBI (Mexican Association of
Biotechnological Companies) - Cámara Nacional de la Industria de la Transformación - CANACINTRA (National Chamber of the
Manufacture Industry) Subject has been granted Sanitary License 09 09 01 001 to operate in
the following production lines: Mix of raw materials or medicines with
additive or excipients, raw material or medicines, intermediate raw
materials. Reportedly, the majority shareholder is a company from Luxembourg. |
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LARA, FERNANDO |
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TITLE |
Plant Director |
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NATIONALITY |
Mexican |
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PROFESSION |
Engineer |
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SARRA, GAETANO |
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TITLE |
Production Director |
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NATIONALITY |
Mexican |
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PROFESSION |
Engineer |
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ALARCON BENET, FERNANDO |
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TITLE |
General Manager |
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NATIONALITY |
Mexican |
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BACKGROUND INFORMATION |
General Manager - Chevrolet Taxquena Retail sector August 2009 - September 2010 (1 year 2 months) General Manager. Coordination of the sales, spares and administration
areas Commercial Manager - Road Track
S.A. de C.V. Wholesale sector March 2009 - August 2009 (6 months ) He was in charge of the sale of satellite location systems for
automobiles through the distributors General Motors General Manager- Auto Cam S.A. de C.V. Retail Sector August 2008 - January 2009 (6 months ) He was in charge of an automotive distributor in the areas of sales,
administration, services and spares. Post Sales Operations Manager - General Motors Public company GM; Automotive Sector November 1990 - August 2008 (17
years 10 months ) Coordination of operations, services and spares in Chevrolet, Buick,
GMC and Cadillac Education: Higher Education: Instituto Tecnológico y de Estudios Superiores de
Monterrey Bachelor in Industrial Engineering MBA 1993 - 1995 Universidad del Valle de México Industrial Engineer 1985 - 1989 Instituto Rudyard Kipling |
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CONTRERAS GALLEGOS, ROGELIO |
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TITLE |
General Accountant |
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NATIONALITY |
Mexican |
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PROFESSION |
Chartered Accountant |
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FALZONI ARNAUD, DANIEL |
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TITLE |
Planning Manager |
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NATIONALITY |
Mexican |
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PROFESSION |
Graduate |
FERMIC S.A. DE C.V. is a company operating within the
chemical-pharmaceuticals sector founded in 1966 by Bruno Falzoni Duca who died
in February 2007. Before he passed away, he was President and General Director
of the Company.
Currently, his two children are in charge of the Company.
The Company was related to AISE S.A. DE C.V. which was merged by
FERMICAISE S.A. DE C.V
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SIC
Classification |
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Main activity |
Subject is engaged in manufacture and processing of raw material for
antibiotics intended for the livestock sector and human use. Trademark: FERMIC (own brand) Products: Clarithromycin, clavulanate potassium, roxithromycin,
clavulanic acid, erythromycin , gentamicin, oxytetracycline, tetracyclin,
among others. |
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O P E R A T I O N S |
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Import |
Yes |
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Country |
Raw material from USA, Argentina, Germany, France, Spain, China,
Finlandia, etc. direct credit at 30, 60, 90 days-terms |
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Export |
Yes |
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COUNTRY |
To over 50 countries such as India, China, Korea, Germany, USA, Italy and
other countries by direct credit at 30 and 60 days-terms |
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% Ventas exterior (Paises) |
100% |
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% DOMESTIC PURCHASES |
30% |
% FOREIGN PURCHASES |
70% |
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SELLING TerritorY |
International market |
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EMPLOYEES |
350 |
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Comments |
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Main Clients: Pharmaceutical and agriculture laboratories of the
world, such as: - Apotex (Canada) - China Chemicals (Taiwan) - Alkem (India) |
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Disposition |
Poor. Very few information was given. Politely. |
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Interviewee(s) |
Víctor Corona |
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Position(s) |
Spare parts Purchasing |
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Information provided |
Mr. Victor Corona, duly authorized, only provided some operating data. |
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SALES |
US$ 0.00 () |
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FINANCIAL SITUATION |
FAIR Subject is a company that started operating in 1968 and it is one of
the major fermentation plants in Latin America. No adverse were found in the market. |
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Property of company comments |
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Subject's assets include: -Fermentation facilities -Distillation installations -Refrigeration installations -Laboratories -Area for synthetic chemicals -Office furniture and fixtures -Computers -Vehicles |
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INSURANCE |
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Insurance Comments |
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Broker: LAFON Y ASOCIADOS AGENTES DE SEGUROS Y DE FIANZAS S.A. |
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(Confidential Information)
TRADE REFERENCES
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Note : Other suppliers did not provide information or could not be
consulted |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.70 |
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1 |
Rs.91.14 |
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Euro |
1 |
Rs.77.97 |
INFORMATION DETAILS
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Report Prepared
by : |
SDA |
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.