|
Report Date : |
09.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
LABORATORIO PASTEUR S.A. |
|
|
|
|
Registered Office : |
Ignacio Serrano 568 Concepción
VIII Region Del Bio Bio |
|
|
|
|
Country : |
Chile |
|
|
|
|
Date of Incorporation : |
11.12.1980 |
|
|
|
|
Legal Form : |
Private Stock
Company |
|
|
|
|
Line of Business : |
Manufacture and
marketing of pharmaceutical products, and Laboratory products |
|
|
|
|
No. of Employees : |
300 |
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 |
|
Maximum Credit Limits : |
USD 28.500 Millions |
|
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) |
|
Chile |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
CHILE - ECONOMIC
OVERVIEW
Source
: CIA
LABORATORIO PASTEUR S.A.
Ignacio Serrano 568
Concepción
VIII Region Del Bío Bío
CHILE
Telephone :
56-41-2243298, 56-41-2231827
Fax : 56-41-2243326
E_Mail :
caldunate@lpasteur.cl, info@lpasteur.cl, ozuniga@lpasteur.cl
Web Site :
www.lpasteur.cl
Postal Code : 4030635
Started
: 1982
Total
Employees :
300
Payments : See Commercial Record
Capital :
000's$ 570.000.-
Sic(s) : 2834 -
5122
Line of Business: Manufacture and
marketing of pharmaceutical products. Laboratory.-
FINANCIAL INDICATORS
Financial statements could not be obtained, thus financial analysis can not be
carried out
Commercial Bulletin : As at 23/10/2013 subject does not register protested
checks,
bank drafts nor promissory notes in the
commercial
information bulletin
Previsional Bulletin : As
at 23/10/2013 does not register social security
infringements
Labor Bulletin : As at 23/10/2013 registers work
infringements
LABOR DETAIL
Date : 31/12/2012
Reason : Fines on the
labor law legislation
Value : Ch$
1.608.240,00.-
Months : 0
Bulletin : 144
Page : 155270
Drawer : Dirección
del
Trabajo
Consolidated delinquency : As at 23/10/2013, subject does not register
any
delinquent bill
TRADE REFERENCES
Suppliers' trade references are supplied
as follows:
Detail of References
Old :
Since 2005
Last purchase : 09-2013
Terms : 30 days
Payment : Prompt
Notes : invoice
Credit : (000'sUS$) 15.000
Owes : (000'sUS$) 1.600
Due : Does not Register
Paying Comments: Good
Purchase Aver. : (Monthly 000's$) 1.500
Old : Since
1995
Last purchase : 03-2013
Terms : 60
days
Payment : Prompt
Notes : invoice
Credit : (000'sUS$) 10.000
Owes : Does not Register
Due : Does not Register
Paying Comments: Good
Purchase Aver. (Monthly
000's$) 5.000
Ocassional purchases.
Detail of Former Trade References
--------------------------------------------------------------------------------
Last
Credit
Owes
Old Purch.
Payment.
Notes
(000'sUS$) (000'sUS$)
--------------------------------------------------------------------------------
Since 1999 01-13
Prompt
invoice
35.000
-
Since 1999 07-10
Prompt
invoice
Open None
Since 1995 06-10 Prompt
invoice
10.000 None
Since 1995 11-09
Prompt
invoice
10.000 None
Since 1995 02-09
Prompt
invoice
Open None
Since 1997 04-09
Prompt invoice
15.000 None
11 years 07-08 Prompt
invoice
10.000 3.900
11 years Prompt
checks
5.000 4.514
11 years 07-06 Prompt bank
draft
20.000
-
6 years
11-05
Prompt current
account
- None
11 years 11-06
Slow bank
draft
8.000
-
10 years 11-05 Prompt bank
draft
8.000
-
6 years Prompt
current
account
-
-
11 years Prompt
bank
draft
20.000
-
10 years 10-04 Prompt bank
draft
20.000
-
5 years
12-02
-- current account
- None
10 years 12-04
Prompt bank
draft
7.200
-
10 years 07-03 Prompt bank
draft
40.000
-
5 years
08-03
Prompt current
account
Open -
10 years 08-03 Prompt bank
draft
20.000
-
During the last 6 months, the account holder credit history shows 49 credit
review inquiries requested by financial institutions, telecommunications
companies, insurance agencies.
AVERAGE PAYMENTS IN CHILE
International Risk and Payment Review reported in June 2011
The local delays in payment average 0-1 month.
BANKS
Subject operates with the following banks:
- Banco Bice, branch Caupolicán 266,, Concepción
- Banco Bilbao Vizcaya Argentaria, Chile, main office Huérfanos 1234,
Santiago
and Concepción
- Banco de Chile, main office Ahumada 251, Santiago and Concepción
- Banco de Credito e Inversiones, branch O"Higgins 399, Concepción
- Banco del Estado de Chile, main office Av. Libertador Bdo.
O"Higgins 1111,
Santiago and Concepción
- Banco Santander Chile, main office Bandera 140, Santiago
- Scotiabank Chile, main office Morandé 226, Santiago
OPERATIONS
Line of Business : Manufacture
and marketing of pharmaceutical products.-
Laboratory. (medicines
for human consumption).-
Classification according to commercial activity:
Sic: 2834-0000 Pharmaceutical preparations
Sic: 5122-0000 Drugs, proprietaries, and sundries
Subject is considered as a large company in this line of business, high
competition
Sales
Sales are steady throughout the year
100% wholesalers
National and international sales territory
Products are sold
National: 95%.
International: 5%:
Exports to Bolivia, Ecuador, Guatemala and Nicaragua.
of Exports obtained from Customs'National Service
Country
%last year %Accum.
-------------------------------------------------------
Ecuador
37,92 75,25
Guatemala
32,00 18,81
Bolivia
21,88 5,93
Nicaragua
8,20 0,00
HISTORICAL REGISTRIES
Total 2011 = 000's$ 16.669 Accumulated 2012 = 000's$ 36.325
Total 2009 = 000's$ 51.000
Total 2008 = 000's$ 202.231
Total 2007 = 000's$ 133.124
Total 2005 = 000's$ 14.700
Total 2004 = 000's$ 52.728
Total 2003 = 000's$ 60.166
Customers
Main customers are: Line of business' distributors in a 20%.
drugstores in a
80%.
The 5 most important customers are:
Farmacias Ahumada S.A., Salcobrand S.A., Farmacias Cruz Verde
S.A., Ramirez y
Sanchez Ltda., Socofar S.A.
Representations
Represents:
IVES PONROY, France.
Purchases
Places orders with multiple suppliers
National: 50%
Purchase conditions: Cash, term
payments to 30, 60 & 90 days with check & bill
of exchange.
International: 50%
Purchase conditions: Credit letter to
120 days.
Imports from Germany, Argentina, Austria, Brazil, China, Colombia, Ecuador,
Spain, France, India, Israel, Norway, Sweden, Switzerland, Taiwan, United
States
and Uruguay.
of Imports obtained from
Customs'National Service
Country
%last year %Accum.
-------------------------------------------------------
Argentina
45,26 28,77
China 15,28 24,54
India 13,75 10,35
Germany 12,37
13,15
Brazil 4,71 7,44
Ecuador
2,24 3,61
France 2,12 4,07
Austria 1,56 3,28
Switzerland 0,83
0,11
Colombia
0,75 0,00
Taiwan 0,39 0,29
Norway 0,28 0,00
Israel 0,19 0,28
Spain 0,14 3,11
United
States
0,12 0,92
Uruguay 0,00 0,00
Sweden 0,00 0,00
Historical registries
Total 2011 = 000's$ 1.158.652 Accumulated 2012 = 000's$ 870.416
Total 2009 = 000's$ 1.160.343
Total 2008 = 000's$ 1.297.838
Total 2007 = 000's$ 980.327
Total 2005 = 000's$ 1.027.254
Total 2004 = 000's$ 758.998
Total 2003 = 000's$ 620.082
National suppliers
- Brenntag Chile Comercial e Industrial Limitada
- Comercial Socam Limitada
- Cristalerias Toro SpA
- Instituto Bioquimico Beta S.A.
- Merck S.A.
- Namazucar S.A.
- Reutter S.A.
Foreign suppliers
- Ives Ponroy (France)
Employees: 300 employees
Location
- Laboratory, offices and warehouses (property belongs to the
related company
Centinela Inversiones Ltda) located at Ignacio Serrano 568 Concepción,
Chile,
commercial area, main street of normal traffic, construction in
good
conditions
Branches (28/10/2013)
- Offices and delivery warehouses (property belongs to
Laboratorios Pasteur
S.A.) located at Román Diaz 1271, Providencia Santiago Chile
RELATED COMPANIES
Subject is related to the following companies:
- Centinela Inversiones Ltda. Share facilities with subject. Line of
business :
Real estate company.-
- Grafica Santa Berta Ltda. T A X 78484440-4
FIXED ASSETS
Real estates (28/10/2013)
Subject registers the following real estate
- Business office, Manuel Rodríguez 856 San Fernando-Chile, Fiscal value
of
000's$ 662.807.-, rol Nº 59-7
Informed that this real estate belongs to related company Centinela Inversiones
Ltda.
Vehicles (28/10/2013)
Owns vehicles for the company's use
9 vans (for service use: Fiat Fiorino and Volkswagen Combi), etc.
Machinery & Instalations (28/10/2013)
Equipments and machinery, not specified
INSURANCES
Insurance Company:
-Liberty Compañia de Seguros Generales S.A.
ADMINISTRATION
General Manager and : Roberto Guillermo Vega Fernández TAX:5100129-K
Legal Rep.
Adm. & Finances Manager
: Claudia Verónica Aldunate Schell TAX:8275180-7
Plant Manager
: Claudio Luis Rogelio González Larenas
TAX:7211612-7
Finances supervisor :
Daniela Ester Vega Sepúlveda TAX:9907132-K
Corporate
: Adrián Eduardo Vega Fernández TAX:5100128-1
Affairs'Manager
Imports' Assistant : Oriana Zúñiga
CURRICULUM
Roberto Guillermo Vega Fernández
T A
X
: 5100129-K
Titled as :
Pharmaceutical Chemist.
Position :
General Manager and Legal Rep.
Rodrigo Antonio Vega Sepúlveda
T A X
: 9907133-8
Titled as : Civil
Engineer.
Position :
Shareholder
Adrián Eduardo Vega Fernández
T A
X
: 5100128-1
Titled as :
Pharmaceutical Chemist.
LEGAL INFORMATION
Legal Structure
: Private Stock Company
Constitution date : 11/12/1980. Registered as a Limited Liability
Partnership. Business name is
"Laboratorio Pasteur Ltda."
Notary
: Carlos Larenas Munita, Concepción
Term of duration
: Indefinite
Legal Address : Concepción - Chile
Published in :Official Gazette dated 12/01/1981
page Nº 9
Current Social Capital: 000's$ 570.000.-Divided to 50.000.- registered
shares unique series
Social Initial Capital: 000's$ 2.615.-
Shareholder : 10
- 22,40% 5100128-1 Adrián Eduardo Vega Fernández
- 22,40% Oscar Vega Fernández
- 22,40% 5100129-K Roberto Guillermo Vega Fernández
- 13,40% 6812957-5 Berta Celinda Vega Fernández
- 6,90% 4645374-3 Sucesión Víctor Humberto Vega Fernandez
- 2,50% 9907132-K Daniela Ester Vega Sepúlveda
- 2,50% Inversiones Chicureo Limitada
- 2,50% 9907113-3 Jimena Susana Vega Sepúlveda
- 2,50% 9907129-K Macarena Paz Vega Sepúlveda
- 2,50% 9907135-4 María Andrea Vega Sepúlveda
Administration is held by General Manager and Legal Rep..
Legal changes
Public Deed dated 15/11/1982, notary Carlos Larenas Munita, Concepción,
published in the Official Gazette dated 26/11/1982 page N° 13, statutes were
modified: a new statutes text was established, indicating business name
"Laboratorios Pasteur Limitada". Registered on leaf 1.200 N° 595 in
the Trade
Registry of Santiago, year 1982, indefinite term of duration. Capital is
$2.615.671 divided into Víctor Humberto Vega Rojas 50% and Víctor Humberto,
Adrián Eduardo, Oscar Enrique, Berta Celinda, Roberto Guillermo all of them
last-named Vega Fernández with an 8,33% each one of them, and also 8.33%
corresponding to the succession rights of Carlos Rubén Vega Fernández.-
Public Deed dated 05/02/1988, notary Luis Araneda Triviño, Suplente Jorge
Christoph Stange, Concepción, published in the Official Gazette dated
22/02/1988
page N° 6, partners were modified: Víctor Humberto Vega Fernández retired from
partnership. At the same time, María Jimena Hilda Sepúlveda Rollan joined the
partnership.- Besides, capital was increased: to $48.589.182.-
Public Deed dated 02/02/1989, notary Luis Araneda Triviño, Suplente de Jorge
Christoph Stange, Concepción, published in the Official Gazette dated
13/02/1989
page N° 21, statutes were modified: Partnership will have a duration of 15
years
as from Jan 1st, 1980, this term will be automatically renewable for periods of
6 years.-
Public Deed dated 15/12/1994, notary Mario Aburto Contardo, Concepción,
published in the Official Gazette dated 06/01/1995 page N° 11, corporate
structure was modified: limited liability partnership with business name
"Laboratorio Pasteur Ltda." by a private stock company with business
name
"Laboratorio Pasteur S.A." Besides, statutes were modified: a new
statutes text
was established.
Capital is $570.000.000 divided into 50.000 no par value shares.-
Public Deed dated 02/05/2005, notary Francisco Molina Valdés, Santiago,
published in the Official Gazette dated 17/05/2005 page N° 16, statutes were
modified: it was agreed that subject will be administrated by a board of 7
directors. It is not necessary to be shareholder in order to be part of the
board of directors.
PUBLICATIONS
The following information regarding the subject was published in press
Bio Bio.cl of 25/10/2013 Fire affected Laboratorio Pasteur in Concepción.
It begun in the upper side of the structure, a 4 story building located in
Serrano street (Barros Arana and Freire).
Claudio González, technical director of the laboratory mentioned that the fire
only affected the Depts of Maintenance, Casino, Control of quality and Files. -
INFORMATION SOURCES
On 28/10/2013 Miss. Oriana Zúñiga, Imports' Assistant, declined financial
figures, however, submitted the data shown in this report.
-Other outside information sources.
Exchange rate
-As at 04/11/2013 $ 507,64 Per US$
CREDIT RECOMMENDATION
Credit recommendation amounts are assigned according to criteria usually
used in
the commercial credit evaluation.
The amounts are based on the risk percentages'assignment to the following
indicators: Trade references, number of employees, legal structure,
protested
bills, labor & welfare infringements, unpaid bills, operations, insurances,
net
profit, net worth, working capital and liquidity variations.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.73 |
|
|
1 |
Rs.100.92 |
|
Euro |
1 |
Rs.84.06 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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.