|
Report Date : |
07.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
AVIV - RECYCLING INDUSTRIES LTD. |
|
|
|
|
Registered Office : |
P.O. Box 127 Farm No. 8 Kfar Truman 7315000 |
|
|
|
|
Country : |
Israel |
|
|
|
|
Date of Incorporation : |
31.03.1991 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Marketers and exporters of recycled plastic, operating a plastic
recycling plant, producing P.E.T. flakes |
|
|
|
|
No. of Employees : |
100 |
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 : |
Satisfactory |
|
|
|
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Israel |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
israel - ECONOMIC OVERVIEW
Israel has a
technologically advanced market economy. It depends on imports of crude oil, grains,
raw materials, and military equipment. Cut diamonds, high-technology equipment,
and agricultural products (fruits and vegetables) are the leading exports.
Israel usually posts sizable trade deficits, which are covered by tourism and
other service exports, as well as significant foreign investment inflows. The
global financial crisis of 2008-09 spurred a brief recession in Israel, but the
country entered the crisis with solid fundamentals - following years of prudent
fiscal policy and a resilient banking sector. The economy has recovered better
than most advanced, comparably sized economies. In 2010, Israel formally
acceded to the OECD. Natural gasfields discovered off Israel's coast during the
past two years have brightened Israel's energy security outlook. The Leviathan
field was one of the world's largest offshore natural gas finds this past
decade. In mid-2011, public protests arose around income inequality and rising
housing and commodity prices. The government formed committees to address some of
the grievances but has maintained that it will not engage in deficit spending
to satisfy populist demands.
|
Source : CIA |
AVIV - RECYCLING INDUSTRIES LTD.
Telephone 972 3 970 29 93
Fax 972 3 970 29 96
P.O. Box 127
Farm No. 8
Kfar Truman 7315000 Israel
A private limited company, incorporated as per file No. 51-155811-6 on
the 31.03.1991.
Authorized share capital NIS 2,700,000.00, divided into -
2,700,000 ordinary shares
of NIS 1.00 each,
of which 1,000,000 shares amounting to NIS 1,000,000.00 were issued.
1. Itzhak Mizrahi, 35%,
2. Mrs. Aliza Mizrahi, 35%,
3. ISRAEL PLASTICS INC.,
15%, a foreign company owned by Mizrahi family,
4. Ziv Mizrahi, 3.75%,
5. Ms. Dafna Ben Yaakov,
3.75%,
6. Yaron Mizrahi, 3.75%,
7. Oded Mizrahi, 3.75%.
In practice, subject is owned by Mizrahi family.
1. Itzhak Mizrahi, General
Manager,
2. Mrs. Aliza Mizrahi
Marketers and exporters of recycled plastic, operating a plastic
recycling plant, producing P.E.T. flakes. Subject uses mainly plastic bottles,
and enjoys incentives from the Ministry of Environmental Protection.
20% of sales are export.
Subject signed a contract with local municipalities, positioning at
street corners containers for collecting plastic bottles (P.E.T) for recycling.
Operating from office premises, owned by the Mizrahi family, in Farm No.
8, Kfar Truman, and from an owned plant, on an area of 25,000 sq. meters, in
Ramat Hovav.
Having 100 employees.
Financial data not forthcoming.
Subject is an “Approved Enterprise” and as such entitled for State
support, grants and tax relief.
In May 1998 the Israeli Investment Centre (IIC) approved a US$ 4.7
million investment plan for the expansion of subject’s plant.
There are 7 charges for unlimited amounts registered on the company's
assets (financial assets, fixed assets and equipments), in favor of Bank Leumi
Le'Israel Ltd., Union Bank of Israel Ltd. and Mizrahi Tefahot Bank Ltd. (last 3
charges placed February-November 2011).
Sales figures not forthcoming.
ISRAEL PLASTICS INC., a foreign company registered also in Israel, incorporated
in 1952 and owned by Mizrahi family.
Union Bank of Israel Ltd., Jerusalem Main Branch (No. 051), Jerusalem.
Mizrahi Tefahot Bank Ltd., Keshet
Airport City Branch (No. 418), Lod.
Although itself being an environmental plant, subject was involved in
environmental violations. In June 2011 it was reported that the Chief of Ramat
Hovav Council ordered an administrative closing of subject's plant due to a
fire which broke out, which was caused by violations of fire regulations and
faults in plants maintenance.
Also in June 2011 it was reported that the Ministry of Environmental
Protection ordered a criminal investigation against subject's plant in Ramat
Hovav, due to sewerage violations.
Apart from that, nothing unfavorable learned.
Subject's officials refused to disclose financial data.
Subject is the largest local plant of plastic recycling, processing some
6,000 tons per year. Subject won the tender of the Ministry of Environmental
Protection for the recycling of plastic bottles, collects the plastic bottles
from containers stationed at municipalities
The Society of Israel Plastic & Rubber Industry published data on
the sector for 2011: The sector’s turnover (both local and for export) reached
US$ 5,075 million, representing 15% increase from 2009 (after 4% decrease from
2008, affected by the global crisis).
Sales for export by the Plastic and Rubber Industry also grew by some
15% in 2011 up to US$ 1,882 million, after in 2010 exports returned to 2008
levels, prior to the global economic crisis. The growth trend in export –in US$
terms- was halted in 2012 with 2.7% decrease from 2011, reaching US$ 1,831
million.
Sales breakdown: 30% of the Plastic & Rubber sector's sales are Household
Products, 23% - Agriculture, 16% - Packaging, 9% - Building sector, 9%
Industry, 5% Furniture, 4% - Compounds (rest is to other fields).
According to the Central Bureau of Statistics, import of Plastic and
Rubber raw material for the local industry in 2012 summed up to NIS 9,037
million, 6% increase from 2011, keeping the growth trend from 2010 and 2009,
though in a well lower pace.
Investment in imported machinery and equipment to the Plastic &
Rubber industry climbed 25.6% from 2010 totaling NIS 632.3 million in 2011.
This is after in 2010 it rose by 8.1%, while level of import in 2010 was just
fractionally higher than 2009, far from record 2007 & 2008 years.
Notwithstanding the refusal to disclose financial details, considered
good for trade engagements.
Maximum unsecured credit recommended US$ 100,000.
Note: Since the beginning of February 2013 Israel Post has started using a
new area code method of 7 digits (the old method of 5 digits is no longer
valid).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.70 |
|
|
1 |
Rs.82.79 |
|
Euro |
1 |
Rs.71.43 |
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.