MIRA INFORM REPORT

 

 

Report Date :

09.03.2013

 

IDENTIFICATION DETAILS

 

Name :

ENSACAR MEXICO S.A. DE C.V.

 

 

Registered Office :

Taninul 100, Col. Pueblo Nuevo, 79200, Tamuin / San Luis Potosí

 

 

Country :

Mexico

 

 

Date of Incorporation : 

25.05.2004

 

 

Legal Form :

Stock Company of Variable Capital

 

 

Line of Business :

Subject is engaged in manufacture and distribution of polyethylene fabrics, sacks and bags and flexible intermediate containers

 

 

No. of Employees :

Not available 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate  

 

 

Payment Behaviour :

Unknown 

 

 

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)

Mexico

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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%. 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 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 5.4% in 2010 and 3.8% in 2011, with exports - particularly to the United States - leading the way. The administration continues to face many economic challenges, including improving the public education system, upgrading infrastructure, modernizing labor laws, and fostering private investment in the energy sector. CALDERON has stated that his top economic priorities remain reducing poverty and creating jobs.

 

Source : CIA

 

 

 

IDENTIFICATION

 

CORRECT COMPANY NAME

ENSACAR MEXICO S.A. DE C.V.

TRADE NAME

ENSACAR MEXICO

TAXPAYER REGISTRATION

RFC EME040525N82

MAIN ADDRESS

Taninul 100, Col. Pueblo Nuevo

POSTAL CODE

79200

DEPT/PROV/REGION/STATE

Tamuin / San Luis Potosí

COUNTRY

MEXICO

TELEPHONE

(52489) 3881748

E-MAIL

info@ensacarmexico.com

WEB

www.ensacarmexico.com

COMMENTS

 

Subject's correct corporate name is given in the identification section.

 

Additional E-mail: jefe.recursoshumanos@ensacarmexico.com

 

 

SUMMARY

 

Date of foundation

2004

Chief Executive

TINAJERO HERNANDEZ, JULIO ALFONSO

Disposition

Declined. For security reasons and/or competition.

Payments policy

Without rating (No payment experience traced)

 

LEGAL BACKGROUNDS

 

LEGAL STATUS

Stock Company of Variable Capital

 

 

DATE OF INCORPORATION

25MAY2004

 

 

PLACE OF REGISTRY

San Luis Potosi, San Luis Potosi

 

 

CURRENT EXCHANGE RATE (US$)

P$12.72 per US$1.= Dollar

 

 

COMMENTS

 

Ensacar México S.A. de C.V. is part of the Ensacar Colombia group, which has operated for over 37 years in the packing market in Latin America.

 

The companies of the group are engaged in manufacture and supply of every type of packing, including:

- Big bags

- Valvulated woven sacks

- Open mouth woven sacks

- Valvulated polyethylene sacks

- Open mouth polyethylene sacks

- Liners for packing

- PP and HDPE flat fabrics, laminaded and non-laminated

- PP and HDPE circular fabrics, laminated and non-laminated

 

Its main purpose is the satisfaction and fidelity of its customers. This purpose is developed in a healthy environment for its employees, partners and the community.

 

 

DIRECTORS - EXECUTIVES - SHAREHOLDERS

 

FULL NAMES / COMPANY NAME

TITLE

%PART.

SINCE

TINAJERO HERNANDEZ, JULIO ALFONSO

Sales Manager

 

 

 

 

WHO IS WHO?

 

BUSINESS HISTORY

Subject is a subsidiary of Ensacar S.A., which is a Colombian company that started operating in Barranquilla, Colombia in 1977 and participates in the packing market in the Caribbean region of Colombia as a polypropylene sack processing company. Today, it produces polyethylene fabrics, sacks and bags, and flexible intermediate containers.

 

 

 

BUSINESS

 

SIC Classification
3 0 - RUBBER AND MISCELLANEOUS PLASTICS INDUSTRY. (Tires, rubber and plastics footwear, belts, miscellaneous plastics products.)

Main activity

Subject is engaged in manufacture and distribution of polyethylene fabrics, sacks and bags and flexible intermediate containers.

 

Import

Yes

Country

India (raw material); by direct credit at 30-day terms

Export

Yes

COUNTRY

USA, Canada, South America, Central America, and the Caribbean; by direct credit at 30-day terms

% CASH SALES / METHOD

10%

% Credit SALES / Terms

90% (30-day terms)

% Ventas exterior (Paises)

70%

% DOMESTIC PURCHASES

70%

% FOREIGN PURCHASES

30%

SELLING TerritorY

30% (Domestic market)

LOCATION

OTHER PREMISES

Subject's administrative offices, production plant, and tax residency are located on the above-mentioned address.

These facilities are located in a urban and industrial area.

 

Subject does not have any other premises.

 

 

Comments

 

Subject's customers are agricultural, chemical, and mineral sectors.

 

 

 

FINANCIAL INFORMATION

Disposition

D: Declined. For security reasons and/or competition.

Interviewee(s)

Mr. Julio Alfonso Tinajero Hernandez

Position(s)

Sales Manager

Information provided

We interviewed Mr. Julio Alfonso Tinajero Hernandez (Sales Manager), who refused to provide any information under confidentiality policy.

 

Therefore, this report was developed with information that was collected from external sources. In those consulted sources, it was not found any financial statements.

 

 

 

SALES

US$ 0.00 ()

Property of company comments

 

Subject's main assets include:

- Office furniture and fittings

-Computer equipment

- Vehicles

- Machinery and equipment

etc.

 

 

TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS


(Confidential Information)

TRADE REFERENCES

Note : Other suppliers did not provide information or could not be consulted

 

Supplier

Country

TULSYAN NEC LTD.

INDIA

EMMBI POLYARNS LIMITED

INDIA

COMMERCIAL SYN BAGS LTD.

INDIA

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.40

UK Pound

1

Rs.81.57

Euro

1

Rs.71.24

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.