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Report Date : |
28.03.2013 |
IDENTIFICATION DETAILS
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Name : |
FROMMELT INDUSTRIES OF CANADA INC. |
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Registered Office : |
181 Regina Road, Vaughan, Ontario L4L 8M3 |
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Country : |
Canada |
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Date of Incorporation : |
01.06.1986 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Design and manufacturing of high quality loading dock accessories,
area protection, energy saving and safety products |
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No. of Employees : |
23 |
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 : |
Usually 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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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Canada |
A1 |
A1 |
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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 |
canada - ECONOMIC OVERVIEW
As an affluent, high-tech industrial society in the trillion-dollar
class, Canada resembles the US in its market-oriented economic system, pattern
of production, and affluent living standards. Since World War II, the
impressive growth of the manufacturing, mining, and service sectors has
transformed the nation from a largely rural economy into one primarily
industrial and urban. The 1989 US-Canada Free Trade Agreement (FTA) and the
1994 North American Free Trade Agreement (NAFTA) (which includes Mexico)
touched off a dramatic increase in trade and economic integration with the US
its principal trading partner. Canada enjoys a substantial trade surplus with
the US, which absorbs about three-fourths of Canadian exports each year. Canada
is the US's largest foreign supplier of energy, including oil, gas, uranium,
and electric power. Given its great natural resources, highly skilled labor
force, and modern capital plant, Canada enjoyed solid economic growth from 1993
through 2007. Buffeted by the global economic crisis, the economy dropped into
a sharp recession in the final months of 2008, and Ottawa posted its first
fiscal deficit in 2009 after 12 years of surplus. Canada''s major banks,
however, emerged from the financial crisis of 2008-09 among the strongest in
the world, owing to the financial sector''s tradition of conservative lending
practices and strong capitalization. Canada achieved marginal growth in 2010
and 2011 and plans to balance the budget by 2015. In addition, the country''s
petroleum sector is rapidly becoming an even larger economic driver with
Alberta''s oil sands significantly boosting Canada''s proven oil reserves,
ranking the country third in the world behind Saudi Arabia and Venezuela.
|
Source : CIA |
Company name: FROMMELT INDUSTRIES OF CANADA INC.
Address: 181 Regina Road, Vaughan, Ontario
L4L 8M3 - Canada
Telephone: +1
905-850-2155
Fax: +1 905-850-3266
Website: www.frommelt.ca
Corporate ID#: ON-001008322
State: Ontario
Judicial form: Corporation – Profit
Date incorporated: December
1, 1992
Date founded: June 1, 1986
Stock: -
Value: -
Name of manager: Joe DI BIASE
History:
A former FROMMELT
INDUSTRIES OF CANADA INC. was incorporated in Ontario on June 1, 1986 under ID#
000668760, merged into the new FROMMELT INDUSTRIES OF CANADA INC. on December
1, 1992
Business:
Frommelt Industries of Canada, Inc., as a partner in the Rite Hite
Enterprise, has been the world leader in dock seals and shelters since 1951.
Its products offer the superior quality you expect while featuring our
innovative and exclusive designs that solve the problems others cannot.
Frommelt’s longstanding reputation for quality and innovation has expanded
through the constant introduction of unique new products.
Examples include the ELIMINATOR™ GAPMASTER™ Sealing Shelter; the
RainGuard™ Header Seal; and the PitMaster™ Underleveler Seal.
Frommelt expertise in Canada has expanded to include the design and
manufacturing of high quality loading dock accessories, area protection, energy
saving and safety products in its Vaughan, Ontario, Canada facility.
Suppliers include:
Qingdao Xinquan Industrial Products
Huangshan Industrial Park of Qingdao Jiaonan, China
Staff: 23
Operations & branches:
At the headquarters, we
find a warehouse and office.
Shareholders:
This is a private Company.
Management:
Joe DI BIASE is the President and CEO
As far as we know, he is not involved in other local corporations.
Subsidiaries
And partnership: None
In Canada, privately held
corporations are not required to publish any financials.
On a direct call, a financial
assistant controlled the present report.
Sales declared for year
2012 is in the range of CAD 2,600,000=
The business is said to be
profitable.
Banks: Royal Bank of Canada
6140 Highway 7, Woodbridge, Ontario L4H 0R2
Ph: 905-856-5515
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: None
Haut du formulaire
Trade references:
Date reported: March 2013
High credit: CAD 3,000
Now owing: 0
Past due: 0
Last purchase: February 2013
Line of business: Office supply
Paying status: On terms
Date reported: March 2013
High credit: CAD 35,000+
Now owing: 0
Past due: 0
Last purchase: February 2013
Line of business: Payroll
Paying status: As agreed
Date reported: March 2013
High credit: CAD 600
Now owing: 0
Past due: 0
Last purchase: February 2013
Line of business: Telecommunications
Paying status: On terms
Domestic credit history:
Domestic credit history appears
as follow:
|
Monthly Payment Trends - Recent Activity |
|
Date |
Up to 30 DBT |
31-60 DBT |
61-90 DBT |
>90 DBT |
||
|
10/12 |
$3,700 |
100% |
0% |
0% |
0% |
0% |
|
11/12 |
$3,800 |
100% |
0% |
0% |
0% |
0% |
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12/12 |
$3,600 |
100% |
0% |
0% |
0% |
0% |
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01/13 |
$3,800 |
100% |
0% |
0% |
0% |
0% |
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02/13 |
$3,800 |
100% |
0% |
0% |
0% |
0% |
|
03/13 |
$3,600 |
100% |
0% |
0% |
0% |
0% |
National Credit Bureaus
gave a satisfying credit rating.
International
credit history:
Payments of imports are currently made on terms.
Other comments:
The Company maintains its
business.
The bank confirmed a
regular account.
The Company is in good
standing.
This means that all local
and federal taxes were paid on due date.
The risk is low.
Our opinion:
A business connection may
be conducted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.27 |
|
|
1 |
Rs.82.49 |
|
Euro |
1 |
Rs.69.88 |
INFORMATION DETAILS
|
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 |
---- |
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.