MIRA INFORM REPORT

 

 

Report Date :

12.11.2013

 

IDENTIFICATION DETAILS

 

Name :

KRUGER PUBLICATION PAPERS INC.

 

 

Registered Office :

3285 Chemin de Bedford, Montreal, Quebec H3S 1G5

 

 

Country :

Canada

 

 

Date of Incorporation :

23.07.2009

 

 

Legal Form :

Federal Corporation – Profit

 

 

Line of Business :

Manufactures and sells publication papers, lumber and other wood products, containerboards, and packaging products.

 

 

No. of Employees :

800

 

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 :

Good

Payment Behaviour :

Regular

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)

Canada

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

CANADA - ECONOMIC OVERVIEW

 

As a 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 2010-12 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 and address

 

Company name:            KRUGER PUBLICATION PAPERS INC. (in English)

                                     PAPIERS DE PUBLICATIONS KRUGER INC. (in French)

 

Address:                                   3285 Chemin de Bedford, Montreal, Quebec H3S 1G5 - Canada

 

Telephone:                    +1 514-343-3100

 

Fax:                              +1 514-343-3124

 

Website:                        www.kruger.com

 

Corporate ID#:               7212381

 

State:                            Federal

 

Judicial form:                  Federal Corporation – Profit

                                     

Date incorporated:          07-23-2009

 

Stock:                           -

 

Value:                            -

 

Name of manager:          Joseph KRUGER

 

 

ACTIVITIES & OPERATIONS

 

IST

 

Business:

 

The Company manufactures and sells publication papers, lumber and other wood products, containerboards, and packaging products to customers in North America.

It offers publication paper products that include newsprint, coated, directory, and calendered papers; forest products; and tissue products for household, industrial, and commercial use. It also offers containerboard and packaging products comprising corrugated cartons from recycled fibers; containers for food, beverages, dairy products, meat, fruits, vegetables, flowers, chemicals, textiles, and clothing; and boxes for large electrical appliances, auto parts, and other industrial products, as well as point-of-purchase displays for retail stores.

 

In addition, the company imports, produces, and markets wines and spirits through food networks (grocery and convenience stores), licensed establishments, and Liquor Control Board of Ontario and S.A.Q. outlets. Further, it focuses on the development of renewable energy projects primarily through hydroelectric, wind energy, biogas, and biomass cogeneration projects; engages in paper and paperboard recycling business; and offers private label tissue products. 

The Company exports worldwide.

 

Staff:     800

 

 

Operations & branches:

 

At the headquarters, we find the corporate office.

 

The Company maintains factories located:

 

220 Route de Windsor

Sherbrooke, Quebec J1C 0E6

 

3735 Bld Royale

Trois Rivieres, Quebec G9A 6B1

 

 

SHAREHOLDERS & MANAGERS

 

Shareholders:

 

KRUGER INC.

3285 Chemin de Bedford, Montreal, Quebec H3S 1G5

Federal corporation incorporated on 06-06-1997

ID# 6487033

 

Management:

 

Joseph KRUGER, Chairman, Director and CEO

David ANGEL, Vice President and CFO

David SPRALEY, Vice President

Other Directors include Donald J. CAYOUETTE and George J. BUNZE.

 

As far as we know, they are involved in other corporations, including:

 

KRUGER INC.

KRUGER PRODUCTS LP

KRUGER ENERGY INC.

 

 

FINANCIALS

 

In and Canada, privately held corporations are not required to publish any financials.

 

On a direct call, a financial assistant controlled the present report but deferred any financials.

We sent a fax but no answer received.

 

Outside sources (bank) gave consolidate sales for fiscal year ending July 2013 in the range of CAD 1.6 billion.

 

The business is profitable.

 

 

Banks:  Royal Bank of Canada

                        Scotia Bank

                        …

 

 

LEGAL FILINGS

 

Legal filings & complaints:

 

As of today date, there is no legal filing pending with the Courts.

 

 

Secured debts summary:   Several

 

Haut du formulaire

 

 

COMPANY CREDIT HISTORY

 

Trade references:

 

Date reported:                October 2013

High credit:                    CAD 80,000+

Now owing:                    0

Past due:                      0

Last purchase:               September 2013

Line of business:            Office supply

Paying status:               On terms

 

Date reported:                October 2013

High credit:                    CAD 1,000,000

Now owing:                    0

Past due:                      0

Last purchase:               September 2013

Line of business:            Payroll

Paying status:               As agreed

 

 

Date reported:                October 2013

High credit:                    CAD 3,000

Now owing:                    0

Past due:                      0

Last purchase:               September 2013

Line of business:            Telecommunications

Paying status:               On terms

 

 

Domestic credit history:

 

National Credit Bureaus gave a satisfying credit rating.

 

According to our credit analysts, during the last 6 months, domestic payments were prompt and regular.

 

 

Other comments:

 

The Company maintains a strong business.

 

The Company is in good standing.

This means that all local and federal taxes were paid on due date.

Last report was filed on 10-31-2013.

 

The risk is low.

 

 

Our opinion:

 

A business connection may be conducted.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.30

UK Pound

1

Rs.101.36

Euro

1

Rs.84.60

 

 

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%)

 

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.