|
Report Date : |
12.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
INDUSTRIAS NEGROMEX S.A. DE C.V. |
|
|
|
|
Registered Office : |
Carrera Tampico-Mante Km.13.5, 89608 |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
02.01.1964 |
|
|
|
|
Legal Form : |
Stock Company of Variable Capital |
|
|
|
|
Line of Business : |
Subject is engaged in the manufacture and sale of synthetic rubber. |
|
|
|
|
No. of Employees
: |
459 |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Source : CIA |
|
|
|||||||||||||||||||||
|
CORRECT COMPANY NAME |
INDUSTRIAS
NEGROMEX S.A. DE C.V. |
||||||||||||||||||||
|
TRADE NAME |
INSA |
||||||||||||||||||||
|
TAXPAYER REGISTRATION |
RFC INE950401GD7 |
||||||||||||||||||||
|
MAIN ADDRESS |
Carrera Tampico-Mante Km.13.5 |
||||||||||||||||||||
|
POSTAL CODE |
89608 |
||||||||||||||||||||
|
DEPT/PROV/REGION/STATE |
|
||||||||||||||||||||
|
COUNTRY |
|
||||||||||||||||||||
|
TELEPHONE |
(52833) 2290345 |
||||||||||||||||||||
|
CORPORATE E-MAIL |
gabriel.sanchez@nhumo.com |
||||||||||||||||||||
|
WEB |
www.negromex.com.mx |
||||||||||||||||||||
|
COMMENTS |
|
||||||||||||||||||||
We recall that the order came without telephone number to expedite the investigation.Other e-mails: olga.badillo@nhumo.com: tacevedo@negromex.com |
|||||||||||||||||||||
|
NOTE |
|
||||||||||||||||||||
|
The
address on your order is incorrect. The correct address is as above-written. |
|||||||||||||||||||||
|
|
|||||||||||||||||||||
|
|||||||||||||||||||||
|
|
|||||||||||||||||||||
|
|
|||
|
LEGAL STATUS |
Stock Company of Variable
Capital |
|
|
|
DATE OF INCORPORATION |
02JAN1964 |
|
|
|
PLACE OF REGISTRY |
Altamira/Tamaulipas |
|
|
|
NOTARY OFFICE |
|
DURATION |
99 years |
|
CURRENT PAID-IN CAPITAL |
Not specified |
|
|
|
CURRENT EXCHANGE RATE (US$) |
Ps$13.03 per USD1 |
|
|
|
MEMBERSHIP |
Cámara Nacional de l Industria
Hulera. |
|
|
|
COMMENTS |
|
||
By agreement of Shareholders in 1999, INDUSTRIAS NEGROMEX S.A. DE C.V. split part of its capital to the company DYNASOL ELASTOMEROS S.A. DE C.V. (RFC DEL-791129-160), with the object to act this as a joint venture dedicated to the independent manufacturing of other rubber products, which does not address the divided one. |
|||
|
|
|||||||||||||||||||||||||
|
|
||||||||||||||||||||||||
|
|
|
|
VARELA
HERNANDEZ, FELIPE DE JESUS |
|
|
TITLE |
General Manager |
|
NATIONALITY |
Mexican |
|
PROFESSION |
Engineer |
|
|
|
|
|
|
|
KUO
S.A.B. DE C.V. |
|
|
|
|
|
BUSINESS
BACKGROUND It is the holding company of the "KUO" Group (previously called DESC group), considered one of the most important ones in the country. It is made up of businesses from the real estate, foodstuff, autoparts and petrochemical sectors.The corporate offices are located at Paseo de los Tamarindos No.400-B, Piso 28, Colonia Bosques de Lomas, México D.F./Estado de México CP 05210. Tel: (52-55)5261.8000, Fax:(52-55)5261.8096. |
|
|
|
|
|
|
|
INDUSTRIAS NEGROMEX S.A. DE C.V (INSA) currently belongs to the chemical sector of the KUO Group (former DESC Group), which purchased 100% of Subject's shares in 1991. INSA began operating in 1967 with a capacity of 45,000 Tons per year through an alliance between Polysar and Pemex, becoming the first synthetic rubber plant in Latin America. By agreement of Shareholders in 1999, INDUSTRIAS NEGROMEX S.A. DE C.V. split part of its capital to the company DYNASOL ELASTOMEROS S.A. DE C.V. (RFC DEL-791129-160), with the object to act this as a joint venture dedicated to the independent manufacturing of other rubber products, which does not address the divided one.Subject was granted an ISO 9002 certification in 1993, and for 1997 it already had an installed capacity of up to 96,000 Tons per year.In 2001, INSA acquired the Quimir trademarks (Arlatex and Pyratex) and started operations of 5,000 Tons per year of SB.Negromex INDUSTRIES LTD is part of the "KUO" group (formerly Grupo DESC) which is referred market leader in cell cast acrylic sheet market in North America with a majority stake in Mexico, USA and Canada. KUO, is also be referred to be as one of the most important groups in the country, consists of business real estate, food, auto parts and petrochemicals. The main companies of the Group are: |
|
|
|
|||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||
|
|
|||||||||
|
SIC Classification |
|||||||||
|
Main activity |
Subject is engaged in the manufacture and sale of synthetic rubber.Brands sold include: "EMULPRENE", "SINSAGUM", "LATEX ARLATEX", "PYRATEX". |
||||||||
|
O P
E R A T I O N S |
|||||||||
|
Import |
Yes |
||||||||
|
Country |
Germany,
Spain and USA |
||||||||
|
ANNUAL Imports In US$ (CIF) |
|
||||||||
|
Export |
Yes |
||||||||
|
COUNTRY |
America,
Europe and Asia |
||||||||
|
Annual exports in US$ (FOB) |
|
||||||||
|
% Ventas exterior (Paises) |
70% |
||||||||
|
% DOMESTIC PURCHASES |
55% |
% FOREIGN PURCHASES |
45% |
||||||
|
SELLING TerritorY |
Domestic
market (30%) |
||||||||
|
EMPLOYEES |
459 |
||||||||
|
|||||||||
|
Comments |
|
||||||||
Import raw material by direct credit.Export synthetic rubber to several countries through direct credit.Sales are intended for the tire, footwear, industrial items, adhesives, sealers, chewing gums, non-woven materials, paper coatings and saturation, and textile industries.The companies below are its agents and distributors in Mexico:- Comercial Vicsol S.A. dE C.V.- Elastomeros y Polimeros Sinteticos S.A de C.V.- Quimicos y Polimeros Corporation S.A. de C.V.Subject is recognized worldwide as a company that has its own processing technology, quality and environmental protection.It has a quality model called SISTEX (Total Excellence System), which allows Subject to manage its businesses under strict quality measures that are applied to its products, processes and systems.It was the first petrochemical company in Mexico to obtain the ISO 9000 Certification. It also has ISO 9002 certified since 1993.It has been granted Awards for quality like Transportation and Distribution Excellence in Logistics Award.
|
|||||||||
|
|
|||||||||
|
Disposition |
Very few information was
given. Politely. |
||||||||
|
Interviewee(s) |
Olga Badillo Zuñiga |
||||||||
|
Position(s) |
Administration and Financial
Manager |
||||||||
|
Information provided |
Confirmed brief overview and indicated that carefully analyze our request and convenience of extended it, however, until the time of issue of this report has not given us an answer.Some interesting data were obtained from reliable third party sources, official and our own files, means through which we could not get balances and estimated figures. |
||||||||
|
SALES |
US$
0.00 () |
||||||||
|
FINANCIAL SITUATION |
B: FAIRWe do not have financial statements that enable an accurate analysis of their results in the last fiscal. For history we can indicate as reference that its sales during the year 2008 were Ps$ 3,120,000,000.= Pesos, representing approximately U.S. $ 228,739,002.93 Dollars.Although we have no current balances and higher numbers can indicate that by reference its sales volume, trajectory, and the absence of negative background, it is presumed that the Subject is operating normally, and is backed by Kuo Group, which is part, referred as one of the most important groups in the country, composed of real estate, food, auto parts and petrochemicals business. |
||||||||
|
Property of company comments |
|
||||||||
The main Subject's assets include:- Office equipment and furniture- Computer equipment- Machinery, among others. |
|||||||||
|
INSURANCE |
|||||||||
|
|||||||||
|
TRADE REFERENCES, CREDIT BUREAU, LAWSUITS,
BANKS (Confidential Information) |
|||||||||||||||
|
TRADE REFERENCES |
|||||||||||||||
|
|
||||||||||||||
|
Note
: Other suppliers did not provide information or could not be consulted |
|
||||||||||||||
|
|
||||||||||||||
|
|
|
||||||||||||||
|
|
||||||||||||||
|
|
|
|
Explanation about commercial reputation |
|
|
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.29 |
|
|
1 |
Rs.101.36 |
|
Euro |
1 |
Rs.84.59 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.