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Report Date : |
07.05.2013 |
IDENTIFICATION DETAILS
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Name : |
AGRICULTURA NACIONAL S.A. DE
C.V. |
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Registered Office : |
Periferico Sur 3325, Piso 3, Col. San Jerónimo Lidice,
Delg. Magdalena Contreras, 10200, México D.F. |
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Country : |
Mexico |
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Date of Incorporation : |
07.10.1935 |
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Legal Form : |
Stock Company of Variable Capital |
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Line of Business : |
Subject is engaged in formulation, distribution and trading of agrochemicals (nutrition, insecticides, herbicides, fungicides, coadjuvant agents, stored grains, rat poison, sprinklers, products and specialties). |
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No.
of Employees : |
400 |
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 |
IDENTIFICATION
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CORRECT COMPANY NAME |
AGRICULTURA
NACIONAL S.A. DE C.V. |
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TRADE NAME |
DRAGÓN |
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TAXPAYER REGISTRATION |
RFC ANA811125V12 |
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MAIN ADDRESS |
Periferico Sur 3325, Piso 3,
Col. San Jerónimo Lidice, Delg. Magdalena Contreras |
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POSTAL CODE |
10200 |
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DEPT/PROV/REGION/STATE |
México D.F. |
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COUNTRY |
MEXICO |
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TELEPHONE |
(5255) 50891500 |
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E-MAIL |
ventas@dragon.com.mx |
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WEB |
www.dragon.com.mx |
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COMMENTS |
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Toll Free Phone: 01 800 021 1568Additional E-mail: gbarrera@dragon.com.mx |
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LEGAL BACKGROUNDS
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LEGAL STATUS |
Stock Company of Variable
Capital |
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DATE OF INCORPORATION |
07OCT1935 |
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PLACE OF REGISTRY |
Mexico DF |
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CURRENT PAID-IN CAPITAL |
Ps$9,086,000.= Pesos |
LAST CAPITAL INCREASE |
1993 (last reported) |
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CLASS OF SHARES |
Registered |
LISTED AT STOCK EXCHANGE |
No |
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CURRENT EXCHANGE RATE (US$) |
Ps$12.15 per US$1.= Dollar |
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DIRECTORS - EXECUTIVES - SHAREHOLDERS
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WHO IS WHO?
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QUIJANO
GARMENDIA, LUIS XAVIER |
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TITLE |
General Director |
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NATIONALITY |
Mexican |
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PROFESSION |
Graduate |
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ASSOCIATED AS PER OUR DATABASE TO
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PARTICIPATED IN
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SEGURA BARRERA, GERARDO
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TITLE |
Finance Director |
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NATIONALITY |
Mexican |
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PROFESSION |
Graduate |
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FUEYO MCDONALD, MARTIN
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TITLE |
Production Manager |
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NATIONALITY |
Mexican |
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PROFESSION |
Engineer |
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BUSINESS HISTORY
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Based on the idea of meeting an unsatisfied need in the Mexican field, the Dragon Group was incorporated in 1935 because of the increasing demand for products for the field when Mexico went through a time of big changes with Lazaro Cardenas in the power.Years later and due to the increasing demand in the Mexican field, in 1985, the company diversified itself by opening the powder maquila plant in Izucar de Matamoros, Puebla; developing its own solid inert products, both light and heavy absorbers. In 1996, the plant grew and a liquid production plant was opened.It concentrates agrochemical production in the plants located in Izucar de Matamoros.It also provides maquila services to multinational companies, such as Bayer, BASF, Arysta, Chemtura, Cheminova, Dow agroscience, FMC, and Novartis Animal Health, offering total quality in formulation of environmentally friendly agrochemicals.As aware of the market needs, it provides as a complementary service the sale of technical product.Subject is part of the Dragon Group.Currently, the Dragon Group has a large line of agrochemicals that are excellently formulated by using the highest quality raw material to provide farmers with a proudly national product that is at the same level or exceeds the best products in the world.The Dragon Group are comprised of the following companies, among others. |
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RELATED COMPANIES TO SUBJECT COMPANY OR TO
MAJORITY SHAREHOLDER
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BUSINESS
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SICClassification |
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Main activity |
Subject is engaged in formulation, distribution and trading of agrochemicals (nutrition, insecticides, herbicides, fungicides, coadjuvant agents, stored grains, rat poison, sprinklers, products and specialties). Sold brands: Nutrex-Fe, Nutrex-Mn, Nutrex-Zn, Phosyn-B, Phosyn-Ca, Phosyn-Mg, Phosyn-ZnP, Powerhumic, Quicelum, Seniphos, Sprinter-K, Spudbuilder, Stopit, Sugartransf, Zincflow700, Akaris 100 CE, Avalanch, Avepol, Canero 60% SL, Combat 20, Combat P, Compas 480, Confol 350 SC, Diazinon 25 E, Diazinon Dragon 600, Rogor Dragón, Safe 25 Ce, Sidelt, Urban 20, Antorcha, Canex 80 DF, Canex Flow 800, Centurio, Diurpax, Dragocombi, Dragocson, Dragoester 47, Dragón 101, Dragopax 375, Dragoprim 90, Dynamina, Euroquat, Fitoamina 40, Fitoamina 72, Ganamina 72, Garraquat 25 Súper, Glifopaak, Lafam, Lafam SG, etc. (own brands). |
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Import |
Yes |
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Country |
USA,
Chile, Spain, Poland, UK, Israel, Denmark, India, Taiwan, Japan, China; by
direct credit at 45, 60, 120-day terms |
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Export |
Yes |
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COUNTRY |
Honduras,
El Salvador, and Guatemala; by direct credit at 30-day terms |
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% CASH SALES / METHOD |
75% |
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% Credit SALES / Terms |
25%
(30-day terms) |
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% Ventas exterior (Paises) |
15% |
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% DOMESTIC PURCHASES |
60% |
% FOREIGN PURCHASES |
40% |
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SELLING TerritorY |
85%
(Domestic market) |
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EMPLOYEES |
400 |
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Comments
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Subject serves about 1,000 customers in Mexico through its main distributors:- Agroveterinaria Betanzos de Abel Betanzos Rascón (Uxpanapa, Veracruz)- Agroveterinaria La Becerra de Patricio Rodríguez López (Las Choapas, Veracruz)- Agrovisa S.A. de C.V.- Impulsora Agropecuaria La Isla S.A. de C.V.- Veterinaria El Estribo Del Dr. Pavón- Jardines Y Semillas (Guadalajara, Jalisco)- Agricentro (Acatizingo, Puebla)- Agroveterinaria Abastos S.A. de C.V. (Oaxaca, Oaxaca)- Impulsora Agrícola de Rio Grande (Rio Grande, Oaxaca)- La Milpita (Atlixco, Puebla)- Química Agrícola (Puebla, Puebla)- Veterinaria El Potro (Zacatepec, Oaxaca)among others.Subject and Guarany Ind. Com. Ltda. (Brazil) have an alliance for distribution a complete line of agricultural equipment. |
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FINANCIAL INFORMATION
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Disposition |
D: Declined. For security
reasons and/or competition. |
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Interviewee(s) |
Third-party sources |
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Information provided |
This report was completely developed with information that was collected from third-party sources, official record, and our files because subject's staff refused to provide any kind of information under confidentiality policies.In consulted sources, it was not possible to obtain any financial statements or reference figures. |
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SALES |
US$
0.00 () |
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FINANCIAL SITUATION |
NN: UNDETERMINEDSubject's Financial Position is considered UNDETERMINED since there is no financial figures to allow a financial analysis of the results in its last fiscal year. The lack of figures prevent from evaluating its relation debts /shareholders' equity. Final operating results are unknown. Absence or lack of credit experience does not show its real current creditworthiness. Few trade references or not trade references at all do not allow to determine its payments behavior. There is no further information about owners' solvency.Reluctance from principal executives to give information under confidentiality make not possible to find other sources. Public and private sources do not report further details. Not very transparent company, so caution is recommended. |
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Property of company comments
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Subject's main assets include:- Storage areas- Rotating drier- Hammer mill with milling capacity of 9 tons per shift- Hammer mill with capacity of 22 tons per shift- Hot room to decrystalize technical material before being used in the process- Three formulators with capacity of 27 tons- Four lines of finished product- Two semiautomatic product fillers- One automatic packaging machine- Semiautomatic equipment lines with response capacity of 4.5 tons per shift- Medical services (doctor's office)- Personal security facilities and equipment (eye bath, showers, fire systems)- Storage tanks- Compressors- Cooling tower- Water softener- Water treatment plant- Spill collectorsEtc. |
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INSURANCE
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TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS
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TRADE REFERENCES |
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Note : Other
suppliers did not provide information or could not be consulted |
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GENERAL INFORMATION
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REPUTATION |
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JUDICIAL COMPLAINT FILED AGAINST COMPANY |
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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.53.94 |
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UK Pound |
1 |
Rs.84.03 |
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Euro |
1 |
Rs.70.72 |
INFORMATION DETAILS
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Report
Prepared by : |
NLM |
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.