MIRA INFORM REPORT

 

 

Report Date :

17.05.2013

 

IDENTIFICATION DETAILS

 

Name :

CONTINENTAL BRASIL INDÚSTRIA AUTOMOTIVA LTDA

 

 

Formerly Known as:

VDO AUTOMOTIVE LTDA

 

 

Registered Office :

Avenida Senador Adolf Schindling,131 - Vila Endres, 07042-020 - Guarulhos/Sp

 

 

Country :

Brazil

 

 

Date of Incorporation :

16.12.1976

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Research, manufacture, import and export of measuring equipment’s, controlling and precision equipment’s and other high technology apparatus for usage in the automotive, transport and other industrial usages in general.

 

 

No. of Employees :

1100 employees

 

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 – March 31st 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Brazil

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

C2

Off-credit

D

 

brazil ECONOMIC OVERVIEW

 

Characterized by large and well-developed agricultural, mining, manufacturing, and service sectors, Brazil's economy outweighs that of all other South American countries, and Brazil is expanding its presence in world markets. Since 2003, Brazil has steadily improved its macroeconomic stability, building up foreign reserves, and reducing its debt profile by shifting its debt burden toward real denominated and domestically held instruments. In 2008, Brazil became a net external creditor and two ratings agencies awarded investment grade status to its debt. After strong growth in 2007 and 2008, the onset of the global financial crisis hit Brazil in 2008. Brazil experienced two quarters of recession, as global demand for Brazil's commodity-based exports dwindled and external credit dried up. However, Brazil was one of the first emerging markets to begin a recovery. In 2010, consumer and investor confidence revived and GDP growth reached 7.5%, the highest growth rate in the past 25 years. Rising inflation led the authorities to take measures to cool the economy; these actions and the deteriorating international economic situation slowed growth to 2.7% in 2011, and 1.3% in 2012. Unemployment is at historic lows and Brazil's traditionally high level of income inequality has declined for each of the last 14 years. Brazil's historically high interest rates have made it an attractive destination for foreign investors. Large capital inflows over the past several years have contributed to the appreciation of the currency, hurting the competitiveness of Brazilian manufacturing and leading the government to intervene in foreign exchange markets and raise taxes on some foreign capital inflows. President Dilma ROUSSEFF has retained the previous administration's commitment to inflation targeting by the central bank, a floating exchange rate, and fiscal restraint. In an effort to boost growth, in 2012 the administration implemented a somewhat more expansionary monetary policy that has failed to stimulate much growth.

 

Source : CIA

 

Company name

 

CONTINENTAL BRASIL INDÚSTRIA AUTOMOTIVA LTDA

 

 

company ADDRESSES

 

MAIN ADDRESS:

AVENIDA SENADOR ADOLF SCHINDLING,131 - VILA ENDRES

ZIP CODE/CITY:

07042-020 - GUARULHOS/SP

 

 

PHONE:

11 2423-3623

E-MAIL:

luiz.caniato@continental-corporation.com

 

BRANCHES:

 

 

 

ADDRESS:

AVENIDA MARECHAL RONDON,1768

ZIP CODE/CITY:

13323-900 SALTO/SP

PHONE:

11 4028-8295

CNPJ:

48.754.139/0008-23

 

 

ADDRESS:

RODOVIA BR 290, KM 67, LOTE 15,0

ZIP CODE/CITY:

GRAVATAÍ/RS

 

 

ADDRESS:

AVENIDA VOLKSWAGEN,100

ZIP CODE/CITY:

RESENDE/RJ

 

 

ADDRESS:

AVENIDA TABOÃO, 899, PREDIO 93,0

ZIP CODE/CITY:

SÃO BERNARDO DO CAMPO/SP

 

 

ADDRESS:

AV TORQUATO TAPAJOS,7937 - TARUM

ZIP CODE/CITY:

69048-660 MANAUS/AM

PHONE:

92 2127-9417

 

 

ADDRESS:

AV. ENDRES,1424 - VILA ENDRES

ZIP CODE/CITY:

07043-000 GUARULHOS/SP

CNPJ:

48.754.139/0016-33

 

 

LEGAL DATA

 

MAIN ACTIVITIES:

 

RESEARCH, MANUFACTURE, IMPORT AND EXPORT OF MEASURING EQUIPMENTS, CONTROLLING AND PRECISION EQUIPMENTS AND OTHER HIGH TECHNOLOGY APPARATUS FOR USAGE IN THE AUTOMOTIVE, TRANSPORT AND OTHER INDUSTRIAL USAGES IN GENERAL.

 

 

LEGAL FORM:

LIMITED LIABILITY COMPANY

 

 

INCORPORATION DATE:

16/12/1976

REGISTER DATE:

16/12/1976

BALANCE SHEET FILING DATE:

31/12

TAX CONTRIBUTOR NUMBER(CNPJ):

48.754.139/0001-57

STATE REGISTER:

336.244.296.118

 

 

SHARE CAPITAL:

R$ 86.952.637,00

LAST REGISTER OF CAPITAL:

28/11/2001

 

BOARD OF DIRECTORS:

 

 

 

SANDRO GIANNUBLIO BENEDUCE

DIRECTOR

MARCO ANTONIO GALLUZZI

MANAGER

WOUTER VANSTEENBEECK

DIRECTOR

 

 

AUTHORIZED USE OF SIGNATURE

 

THE DIRECTORS ARE AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY.

 

SHAREHOLDERS / PARTNERS:

 

 

 

CONTINENTAL AUTOMOTIVE GMBH (GERMANY)

R$ 86.952.636,00

CAS-ONE HOLDINGGESELLSCHAFT MBH (GERMANY)

R$ 1,00

 

AFFILIATES / SUBSIDIARIES:

 

 

 

V.D.O DO BRASIL INDUSTRIA E COMERCIO

 

P.F.S II INDUSTRIA E COMERCIO DE PEÇAS

 

TCV IND E COMERCIO DE PEÇAS AUTOMOTIVAS

 

CONTIMENTAL INDUSTRIA E COMERCIO DE PEÇAS

 

CONTINENTAL INDUSTRIA E COMERCIO AUTOMOTIVO

 

 

 

COMPANY'S BACKGROUND

 

THE SUBJECT WAS ESTABLISHED IN 1976 TO BE ENGAGED IN THE SAID LINE OF BUSINESS. FORMERLY IT OPERATED WITH THE REGISTERED NAME VDO DO BRASIL MEDIDORES LTDA WHICH WAS LATER CHANGED TO VDO BRASIL LTDA AND THEN SIEMENS VDO AUTOMOTIVE. SUBSEQUENTLY IT ALTERED TO VDO AUTOMOTIVE AND ON APRIL 14, 2008 THE NAME HAS CHANGED TO THE PRESENT ONE.

 

THE SUBJECT USED TO BE A SUBSIDIARY SIEMENS VDO AUTOMOTIVE AG WHICH STARTED OPERATING ON MAY 24, 2001. PREVIOUSLY THE FEDERAL COMMISSION FOR TRADE, FROM THE USA, HAD GIVEN THE AUTHORIZATION TO THE MERGER OF SIEMENS AUTOMOTIVE AND MANNESMANN VDO INTO ONLY ONE COMPANY.

 

EARLY'S 2006 THE COMPANY SIEMENS VDO AUTOMOTIVE WAS TAKEN OVER BY SIEMENS AKTIENGESELLSCHAFT.

 

DUE TO SAID TAKE OVER ON JULY 04, 2006 THE COMPANY SIEMENS AKTIENGESELLSCHAFT BECAME THE SUBJECT'S CONTROLLING COMPANY.

 

PREVIOUS NAMES:

VDO DO BRASIL MEDIDORES LTDA

VDO DO BRASIL LTDA

SIEMENS VDO AUTOMOTIVE LTDA,

VDO AUTOMOTIVE LTDA,

 

PARTNERS:

 

CONTINENTAL AUTOMOTIVE GMBH (FORMERLY VDO AUTOMOTIVE AG): HEADQUARTERED AT VAHRENWALDER STR., 9, D-30165, HANNOVER, GERMANY, REPRESENTED BY ITS ATTORNEY, MR. MAURICIO HIROSHI MURAMOTO, AS BELOW MENTIONED;

 

CAS-ONE HOLDINGGESELLSCHAFT MBH (FORMERLY SIEMENS AUTOMOTIVE BETEILIGUNGS GMBH): HEADQUARTERED AT VAHRENWALDER STR., 9, D-30165, HANNOVER, GERMANY, REPRESENTED BY ITS ATTORNEY, MR. MAURICIO HIROSHI MURAMOTO, AS BELOW MENTIONED;

 

MARCOS ANTONIO GALLUZZI: BRAZILIAN, HOLDER OF DOCUMENTS CPF 037.026.518-10 AND RG 151670237, RESIDENTIAL ADDRESS AT AVENIDA SENADOR ADOLF SCHINDLING, 131, VILA ENDRES, ZIP CODE 07042-020, GUARULHOS/SP;

 

WOUTER VANSTEENBEECK: BELGIAN, HOLDER OF DOCUMENTS CPF 232.328.638-25 AND RNE V4657090, RESIDENTIAL ADDRESS AT AVENIDA DUQUE DE CAXIAS, 2422, JARDIM SANTA LUCIA, ZIP CODE 13220-015, VARZEA PAULISTA/SP;

 

SANDRO GIANNUBILO BENEDUCE: BRAZILIAN, HOLDER OF DOCUMENTS CPF 188.641.628-10 AND RG 17.199.093-6, RESIDENTIAL ADDRESS AT AVENIDA SENADOR ADOLF SCHINDLING, 131, VILA ENDRES, ZIP CODE 07042-020, GUARULHOS/SP.

 

FURTHER DETAILS ARE SO FAR NOT KNOWN.

 

REMARKS:

--------

 

WHEN CONTACTING THE SUBJECT WE INTERVIEWED MS. MELISSA, FINANCIAL DEPARTMENT, WHO INFORMED THAT WOULD NOT DISCLOSE ANY KIND OF INFORMATION UNLESS THE INQUIRING PARTY'S NAME WAS DISCLOSED.

 

IF IT IS POSSIBLE TO DISCLOSE THE NAME OF THE INTERESTED SUPPLIER OF THE SUBJECT, WE MAY RESUME OUR CONTACTS AND TRY TO OBTAIN FURTHER INFORMATION.

 

THE DATA CONTAINED HEREIN WERE OBTAINED FROM OUTSIDE SOURCES, OUR DATABASE AND OFFICIAL. NO FURTHER DATA WAS AVAILABLE WITH SEVERAL SOURCES USUALLY INVESTIGATED.

 

PUBLIC INFORMATION:

 

PROTESTS:

 

17  PROTESTS,TOTAL AMOUNT R$ 56.236,98

    DATE OF FIRST PROTEST: 09/2010  R$ 194,80

    DATE OF HIGHEST PROTEST: 05/2013  R$ 8.773,04

 

DETAILS OF LATEST PROTESTS:

 

NOTARY OFFICE:

DATE:

VALUE:

1º CARTÓRIO DE GUARULHOS/SP

05/2013

R$ 2.969,93

1º CARTÓRIO DE GUARULHOS/SP

05/2013

R$ 2.265,55

1º CARTÓRIO DE GUARULHOS/SP

05/2013

R$ 2.645,46

1º CARTÓRIO DE GUARULHOS/SP

05/2013

R$ 2.264,01

1º CARTÓRIO DE GUARULHOS/SP

05/2013

R$ 2.089,81

 

 

FINANCIAL INFORMATION

 

DUE TO THE SUBJECT'S LEGAL FORM, IT IS NOT OBLIGED TO PUBLISH THE BALANCE SHEET INFORMATION. WHEN INTERVIEWING SOURCES AT THE SUBJECT COMPANY DECLINED TO PROVIDE ANY KIND OF FINANCIAL INFORMATION.

 

OUTSIDE SOURCES CONTACTED SHOWED NO FINANCIAL DATA ABOUT THIS COMPANY.

 

EXCHANGE RATE:

 

 

US$ 1,00 = R$ 2,02

 - OFFICIAL RATE ON 15/05/2013

 

COMMENTS ON THE FINANCIAL INFORMATION:

 

IN THE ABSENCE OF FINANCIAL DATA NO COMMENTS CAN BE PROVIDED ABOUT THE SUBJECT CURRENT FINANCIAL STANDING. ALL THE CAN BE REPORTED IS THAT THE SUBJECT IS A SUBSIDIARY OF A LARGE SIZED MULTINATIONAL GROUP WITH HUGE FINANCIAL POWER, THEREFORE, IT IS NOTED LIKELY TO FACE FINANCIAL PROBLEMS.

 

REAL ESTATE:

 

DETAIL OF OWNED REAL ESTATE PARTNER:

 

TYPE:

OTHERS

VALUE:

R$ ,00

REMARKS:

OWNED PREMISES COMPRISE TOTAL AREA OF 22.466M2 AND 14.500 OF BUILT-UP AREA.

 

VEHICLES:

NOT AVAILABLE

 

MACHINES:

NOT AVAILABLE

 

INSURANCE

 

INSURANCE COMPANY:

SUL AMERICA SEGUROS

COVERAGE:

ALL RISKS

EXPIRATION:

NOT AVAILABLE

 

 

Banking  references

 

 

BRANCH/PHONE:

CITY:

BANCO BRADESCO S/A

154 /  11 2475-9329

GUARULHOS/SP

BANCO ITAUBANK S/A

GUARULHOS

GUARULHOS/SP

BANCO DO BRASIL S/A

2659-X  /  19 3794-9019

GUARULHOS/SP

BANCO ITAÚ S/A

GUARULHOS

GUARULHOS/SP

BANCO SANTANDER S/A

2271  -  11 3174-5116

 

 

REMARKS: IN BRAZIL THE BANKS ARE PROHIBITED BY LAW TO PROVIDE INFORMATION OR ANY KIND OF COMMENTS ABOUT THEIR CLIENTS. DUE TO THIS LAW PROHIBITION WE ARE UNABLE TO PROVIDE ANY BANKING DETAILS.

 

ACCORDING TO THE CENTRAL BANK OF BRAZIL OFFICIAL REPORT, THE COMPANY HAS NO RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682 BRAZILIAN CENTRAL BANK").

 

 

ACTIVITIES COMMENTS

 

THE SUBJECT IS ENGAGED IN THE RESEARCH, MANUFACTURE, IMPORT AND EXPORT OF MEASURING EQUIPMENTS, CONTROLLING AND PRECISION EQUIPMENTS AND OTHER HIGH TECHNOLOGY APPARATUS FOR USAGE IN THE AUTOMOTIVE, TRANSPORT AND OTHER INDUSTRIAL USAGES IN GENERAL.

 

IMPORT AND EXPORT:

 

   IMPORTS FROM:

GERMANY, ASIA AND UNITED STATES.

 

   EXPORTS TO:

ARGENTINA, BOLIVIA AND ECUADOR.

 

MAIN CLIENTS:

 

 

 

 

 

DOMESTIC CLIENTS:

 

 

DAIMLERCHYSLER DO BRASIL LTDA

 

 

FIAT AUTOMOVEIS S/A

 

 

FORD BRASIL LTDA

 

21 2560-0044

GENERAL MOTORS DO BRASIL LTDA

 

11 4591-0900

MERCEDES BENZ DO BRASIL S/A

 

11 2018-9330

RENAULT DO BRASIL S/A

 

 

RENAUT DO BRASIL S/A

 

 

VOLKSWAGEM DO BRASIL LTDA

 

19 3867-7892

 

STAFF:

 

THE COMPANY HAS: 1100 EMPLOYEE(S)

 

 

CONCEPT AND FULFILMENT

 

THE SUBJECT IS AN OLD AND WELL-ESTABLISHED COMPANY, OPERATING AS A SUBSIDIARY OF A LARGE SIZED AND WELL-KNOWN MULTINATIONAL GROUP. BOTH THE SUBJECT AND THE GROUP IT BELONGS TO HAVE AN EXCELLENT TRADE REPUTATION.

 

THE COMPANY HAS TRADE RELATIONS WITH SEVERAL SUPPLIERS IN BRAZIL. THE SUPPLIERS EXTEND CREDIT FACILITIES TO THE SUBJECT IN TERMS AND AMOUNTS ACCORDING TO THE COMPANY'S NEEDS AND SO FAR NO PAYMENT PROBLEMS ARE NOTED.

 

OUR INVESTIGATION THROUGH THE PUBLIC RECORDS SHOWED SOME DETRIMENTAL FILES REGISTERED AGAINST THE SUBJECT BUT DUE TO THE SUBJECT’S HIGH FINANCIAL STRENGTH AND HIGH SCALE OF OPERATIONS THE DETRIMENTAL FILES ARE CONSIDERED NORMAL AND DO NOT AFFECT ITS TRADE REPUTATION OR ITS CREDITWORTHINESS.

 

MAIN SUPPLIERS:

 

 

 

 

 

DOMESTIC SUPPLIERS:

 

PHONE:

ADIBOARD S/A

 

11 4585-3133

BOREALLIS OPP PETROQUIMICA S/A

 

11 3443-9454

BRASCABOS COMP. ELETR. ELETRONICOS TLDA

 

 

CBC BRASIL DISTR. LTDA

 

 

CLIPTEC IND. E COMERCIO LTDA

 

11 4591-0900

CONTROLES GRAFICOS

 

21 2560-0044

DAY BRASIL S/A

 

 

DEGUSA BRASIL LTDA

 

11 3146-4100

GENERAL ELETRIC DO BRASIL S/A

 

21  201-8012

INDUSTRIA BRASILEIRA DE BEBEDOUROS LTDA

 

 

IPA IND. DE PROD. AUTOM.

 

19 3867-7892

ITAUTEC PHILCO

 

11 6097-4173

LAKELAND BRASIL S.A.

 

 

LEGO FOMENTO MERCANTIL LTDA

 

 

OSRAM DO BRASIL LAMPADAS ELETRICAS LTDA

 

11 7084-7478

PHILIPS COMPONENTES

 

3841-2330

PHILIPS DO BRASIL LTDA

 

11 3841-2330

SENSE ELETRONICALTDA

 

 

TECNOWORK IND. E COMERCIO

 

11 2018-9330

TRW AUTOMOTIVE LTDA

 

4070-8808

VEMA ELETROELETRONICA LTDA

 

3751-0808

VICK COMERCIO DE PLASTICOS E ISOLANTES LTDA

 

 

 

PAYMENT HISTORY:

 

8 SUPPLIERS REPORTED PAYMENTS:

   TOTAL AMOUNT:  R$ 1.370.679,00

 

AMOUNT OF INVOICES PAID: 163

TOTAL OF PROMPT PAYMENTS: 90,7%

TOTAL OF DELAYED PAYMENTS: 9,3%

 

HIGHEST INVOICE: R$ 67.380,00

HIGHEST CREDIT: R$ 67.380,00

 

OUTSTANDING INVOICES DUE WITHIN THE NEXT 60 DAYS:

 

---------------------------

SUPPLIERS:

INVOICES:

TOTAL AMOUNT:

DUE WITHIN 30 DAYS

1

5

R$ 139.142,00

DUE WITHIN 60 DAYS

1

1

R$ 27.828,00

 

FINAL OPINION

 

THE SUBJECT IS A TRADITIONAL AND WELL-ESTABLISHED COMPANY. IT HAS A HIGH SCALE OF ACTIVITIES AND AN EXCELLENT TRADE REPUTATION.

 

BASED ON THE OVER ALL INFORMATION AVAILABLE IT IS BELIEVED THAT GOOD TRADE RELATIONS MAY BE ESTABLISHED. CREDIT FACILITIES MAY BE EXTENDED WITHIN TERMS AND AMOUNTS ADEQUATE TO THE COMPANY'S SIZE AND FINANCIAL STRENGTH.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.77

UK Pound

1

Rs.83.31

Euro

1

Rs.70.46

 

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.