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Report Date : |
05.10.2013 |
IDENTIFICATION DETAILS
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Name : |
JOWAT UNIVERSAL ADHESIVES AUSTRALIA PTY LTD |
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Registered Office : |
Unit 2, 12 Kerr Road,
Ingleburn, New South Wales, Zip/postal
code 2565 |
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Country : |
Australia |
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Date of Incorporation : |
13.08.2012 |
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Com. Reg. No.: |
159883833 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
importer, manufacturer
and distributor of industrial
adhesives such as :- · Dispersion adhesives Hot melt adhesives Conventional solvent based adhesives Prepolymers Pressure-sensitive adhesives |
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No. of Employees : |
850 employees (Jowat Group) |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Australia |
A1 |
A1 |
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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 |
austraLia ECONOMIC OVERVIEW
The Australian
economy has experienced continuous growth and features low unemployment, contained
inflation, very low public debt, and a strong and stable financial system. By
2012, Australia had experienced more than 20 years of continued economic
growth, averaging 3.5% a year. Demand for resources and energy from Asia and
especially China has grown rapidly, creating a channel for resources
investments and growth in commodity exports. The high Australian dollar has
hurt the manufacturing sector, while the services sector is the largest part of
the Australian economy, accounting for about 70% of GDP and 75% of jobs.
Australia was comparatively unaffected by the global financial crisis as the
banking system has remained strong and inflation is under control. Australia
has benefited from a dramatic surge in its terms of trade in recent years, stemming
from rising global commodity prices. Australia is a significant exporter of
natural resources, energy, and food. Australia's abundant and diverse natural
resources attract high levels of foreign investment and include extensive
reserves of coal, iron, copper, gold, natural gas, uranium, and renewable
energy sources. A series of major investments, such as the US$40 billion Gorgon
Liquid Natural Gas project, will significantly expand the resources sector.
Australia is an open market with minimal restrictions on imports of goods and
services. The process of opening up has increased productivity, stimulated
growth, and made the economy more flexible and dynamic. Australia plays an
active role in the World Trade Organization, APEC, the G20, and other trade forums.
Australia has bilateral free trade agreements (FTAs) with Chile, Malaysia, New
Zealand, Singapore, Thailand, and the US, has a regional FTA with ASEAN and New
Zealand, is negotiating agreements with China, India, Indonesia, Japan, and the
Republic of Korea, as well as with its Pacific neighbors and the Gulf
Cooperation Council countries, and is also working on the Trans-Pacific
Partnership Agreement with Brunei Darussalam, Canada, Chile, Malaysia, Mexico,
New Zealand, Peru, Singapore, the US, and Vietnam.
|
Source : CIA |
Verified Address
Subject name : JOWAT UNIVERSAL
ADHESIVES AUSTRALIA PTY LTD
Business address : Unit 2, 12 Kerr Road
Town : Ingleburn
Province : New South Wales
Zip/postal code : 2565
Country : Australia
Tel : +61 2 96053477
Fax : +61 2 96058477
Email : shane.devereaux@jowatpacific.com
Website : www.jowat.com
Registered address : Unit 2, 12 Kerr Road
Town : Ingleburn
Province : New South Wales
Zip/postal code : 2565
Country : Australia
Comments : The Subject took
over the business of Australian adhesives manufacturer
Universal
Adhesives Pty Ltd on 1st November 2012. Universal Adhesives Pty
Ltd was
previously distributing Jowat products in Australia.
Executive Summary
Date founded or registered : 13/08/2012
Legal form : Australian
Proprietary Company
Chief executive : Shane Devereaux
Issued & paid up capital
: AUD 1,100,000
Line of business : Import, manufacturing and
distribution of industrial adhesives.
Staff employed : 850 employees (Jowat
Group)
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is in
start-up phase
Management experience : Management is reasonably experienced
Financial performance : Financial performance is
undetermined
Organization structure : Organizational structure is
acceptable
Detrimental : No detrimental found
Payment history : No payment delays noted
Comments : Larger credit can
be considered if guaranteed by Ultimate Holding Company.
Registry Data
Registration date : 13/08/2012
Legal form : Australian
Proprietary Company
Registration no Australian Company
Number: 159883833
Registered authority : Australian Securities and
Investments Commission
Fiscal/ Tax no : Australian Business
Number: 26159883833
Registry status : Live/Active
Previous name : None reported.
Change of legal form : None reported.
Key Management
Name : Shane Devereaux
Designation : Managing Director
Appointments
Name : Klaus Werner Kullmann
Designation : Director
Appointment date : 13/08/12
Address : Mühlenweg 12
D-32657 Lemgo
Germany
Biography : Born on 19-07-1964 in
Hannover, Germany.
Name : Ralf Achim Nitschke
Designation : Director
Appointment date : 13/08/12
Address : Schützenberg 35
D-32756
Detmold
Germany
Biography : Born on 23-06-1950 in
Karlsruhe, Germany.
Name : Ralf Schelbach
Designation : Director
Appointment date : 13/08/12
Address : China
Biography : Born on 30-06-1959 in Schapen,
Germany.
Name : Christian Terfloth
Designation : Director
Appointment date : 13/08/12
Address : Meierkamp 16
D-32760
Detmold
Germany
Biography : Born on 27-05-1963 in Munich,
Germany.
Name : Shane Devereaux
Designation : Director
Appointment date : 15/11/12
Address : 12 Felix Street
Wooloowin,
QLD 4030
Australia
Biography : Born on 04-12-1971 in
Brisbane, Queensland, Australia.
Staff employed : 850 employees (Jowat Group)
Composition
Authorized Capital : AUD 1,100,000
No of shares : 1,100 Ordinary Shares
Share par value : AUD 1,000
Issued capital : AUD 1,100,000
Paid up capital : AUD 1,100,000
How listed : Full List
Composition
Shareholder name : JOWAT HOLDING BENELUX B.V.
Address : Ootmarsumseweg
283
7666 NB
Fleringen
Netherlands
No. of shares : 1,100 Ordinary Shares
% of shares : 100%
Structure
Name : JOWAT AG
Affiliation type : Ultimate Holding Company
Address : Ernst-Hilker-Straße 10-14
32758
Detmold
Germany
Comments : Jowat AG manufactures and
distributes adhesives for various bonding
applications
in Germany. It offers dispersion adhesives, hot melt adhesives,
conventional
solvent based adhesives, prepolymers, pressure-sensitive
adhesives,
and special products, such as primers, separating agents, cleaners,
and hand
cleaners. The company’s products are used in wood and furniture,
paper and
packaging, construction and structural wood, graphics and
bookbinding,
automotive and sub-suppliers, technical textiles and textile, and
industrial,
as well as upholstery, mattress, and foam converting applications. It
distributes
its products through exclusive distributors, agents, and licensee in
Europe.
Jowat AG was founded in 1919 and is based in Detmold, Germany.
Name : JOWAT HOLDING BENELUX
B.V.
Affiliation type : Parent Company
Address : Ootmarsumseweg 283
7666 NB
Fleringen
Netherlands
Name : JOWAT FRANCE SARL
Affiliation type : Sister Company
Address : 12 Rue du Climont
67810
Holtzheim
France
Name : JOWAT (UK) LIMITED
Affiliation type : Sister Company
Address : Lymedale Business Centre
Lymedale
Business Park
Hooters
Hall Road
Newcastle-under-Lyme
ST5 9QF
Staffordshire
United
Kingdom
Name : JOWAT (MALAYSIA) SDN.
BHD.
Affiliation type : Sister Company
Address : No. 5, Jalan Taming 2A
Taming
Jaya Industrial Park
43300
Balakong
Selangor
Darul Ehsan
Malaysia
Related companies
and corporate affiliations comments
Other companies of the Jowat
Group should be considered affiliated companies of the Subject.
Bank Details
Name of bank : National Australia Bank Limited
Address : Australia
Account details : Current Account
Comments : It is generally not the policy of
local banks to provide credit status information to
non
related parties, however interested parties would be advised to consult first
with the
Subject if banker's references are required.
Mortgages : None
reported.
Legal Fillings
Bankruptcy fillings : None reported.
Court judgements : None reported.
Tax liens : None reported.
Others : None reported.
Description
Comments : Due to the
Subject’s recent date of establishment financial information is not available.
The Subject is classified as a small proprietary company by the
Australian Securities & Investments Commission hence is not required to
disclose their financial statement.
A proprietary company is defined as small for a financial year if
it satisfies at least two of the following:
- The consolidated revenue for the financial year of the company
and any entities it controls is less than $25 million;
-The value of the consolidated gross assets at the end of the financial
year of the company and any entities it controls is less than $12.5 million,
and
-The company and any entities it controls have fewer than 50
employees at the end of the financial year.
Main activities : The Subject engages in import,
manufacturing and distribution of industrial
adhesives.
The
Subject mainly distributes its products to the woodworking and
furniture,
paper and packaging, automotive, textile and electrical industries.
The
Subject is ultimately owned by Jowat AG.
Jowat AG
with headquarters in Detmold, Germany is one of the leading
suppliers
of industrial adhesives. The company was founded in 1919 and
has
manufacturing sites in Germany in Detmold and Zeitz, plus four other
producing
subsidiaries, Jowat Corporation in the USA, Jowat Swiss AG,
Jowat
Manufacturing in Malaysia, and the Jowat Universal Adhesives
Australia
Pty. Ltd. (Subject) in Australia. The supplier of all adhesive
groups is
manufacturing over 70,000 tons of adhesives per year, with
around 850
employees.\
Product & services
Industrial adhesives:
Dispersion adhesives
Hot melt adhesives
Conventional solvent based
adhesives
Prepolymers
Pressure-sensitive adhesives
Purchases
International : Worldwide
Sales
Local : Yes
International : New Zealand, Pacific Islands
Key events : 16 November 2012
Jowat Expands Australian
Presence
Jowat AG recently announced
it is expanding its presence in Australia,
New Zealand, and the Pacific
Isles with the foundation of Jowat Universal
Adhesives Australia Pty. Ltd.
The company is also taking over the business
of the Australian adhesives
manufacturer Universal Adhesives Pty. Ltd.
“This addition to our
activities will substantially strengthen the market
position of the Jowat Group
in Australia and New Zealand, and promote
sustained attractive growth
opportunities,” said Klaus Kullmann, director on
the Board of the Jowat AG.
“For the first time, the Jowat Group will be
represented with its own
personnel on the Fifth Continent, which allows us
to support our customers in
this region by a much closer and
solution-oriented
partnership.”
Source: www.adhesivesmag.com
Property &
Assets
Premises : The Subject operates from
premises at the verified heading address
consisting of a production facility, warehouse and an
administrative office.
Branches : None reported.
Gross Domestic
Products (GDP) & Economic Overview
Central bank : Reserve
Bank of Australia
Reserve of foreign exchange
& gold : US$ 46.714 billion
Gross domestic product - GDP
: US$ 1.586 trillion
GPP (Purchasing power parity)
: 954.296 billion of
International dollars
GDP per capita - current
prices : US$ 68,916
GDP - composition by sector : agriculture:
4%
industry:
25.6%
services:
70.4%
Inflation : 2010:
2.8%
2011: 3.4%
2012: 2.7%
Unemployment rate : 2010: 5.2%
2011: 5.1%
2012: 5.2%
Public debt
(General Government gross
debt as
a % GDP) 2010:
20.4%
2011:
22.9%
2012: 24%
Government bond ratings : Standard & Poor's: AAA
Moody's
rating: Aaa
Moody's
outlook: STA
Market value of publicly
traded shares : US$1.198 trillion
Largest companies in the
country : Qantas Airways
(Airline),Coca-Cola Amatil (Beverages), CSL (Biotechs),
Brambles (Business & Personal
Services),Crown Ltd (Casinos &
aming), Amcor (Containers & Packaging),Suncorp-Metway (Diversified
Insurance), BHP Billiton (Diversified Metals & Mining),Newcrest Mining
(Diversified Metals & Mining), Orica (Diversified Metals & Mining),
Iluka Resources (Diversified Metals & Mining), Origin Energy (Electric
Utilities), AGL Energy (Electric Utilities), Wesfarmers (Food Retail),
Woolworths (Food Retail), Metcash (Food Retail), Macquarie Group (Investment
services), AMP (Investment services), Challenger Ltd (Investment services),
Fortescue Metals Group (Iron & Steel), Bluescope Steel (Iron & Steel),
Commonwealth Bank (Major Banks), Westpac Banking Group (Major Banks), National
Australia Bank (Major Banks), ANZ (Major Banks), Woodside Petroleum (Oil &
Gas Operations), Santos (Oil & Gas Operations), Caltex Australia (Oil &
Gas Operations), WorleyParsons (Oil Services & Equipment), Toll Holdings
(Other Transportation), Transurban Group (Other Transportation), QBE Insurance Group
(Property & Casualty Insurance), Insurance Australia Group (Property &
Casualty Insurance), QR National (Railroads), Westfield Group (Real Estate),
Stockland Australia (Real Estate), Westfield Retail Trust (Real Estate), Lend
Lease (Real Estate), CFS Retail Property Trust (Real Estate), Goodman Group
(Real Estate), Bendigo & Adelaide Bank (Regional Banks), Bank of Queensland
(Regional Banks), Incitec Pivot (Specialized Chemicals), Telstra
(Telecommunications Services)
Trade &
Competitiveness Overview
Total exports : US$263.9
billion
Exports commodities : Coal, iron ore, gold, meat, wool,
alumina, wheat, machinery and transport
equipment
Total imports : US$239.7 billion
Imports commodities : Machinery and transport
equipment, computers and office machines,
telecommunication equipment and parts; crude oil and petroleum
products
Export - major partners : China 27.4%, Japan 19.2%, South
Korea 8.9%, India 5.8%
Import - major partners : China 18.5%, US 11.4%, Japan 7.9%,
Singapore 6.3%, Germany 4.7%
FDI Inflows : 2009: US$26,554
million
2010:
US$35,556 million
2011:
US$41,317 million
FDI Outflows : 2009: US$16,693
million
2010:
US$12,791 million
2011:
US$19,999 million
Best countries for doing
business : 10 out of 185 countries
Global competitiveness ranking
: 20 (ranking by country on a basis of 144, the first is the best)
Country and
Population Overview
Total population : 22.68 million
Total area : 7,692,024 km2
Capital : Canberra
Currency : Australian
dollars (AUD)
Internet users as % of total
Population 79%
PAYMNT HISTORY
Purchase Term
International : Telegraphic transfer, D/P,
Credit 30-90 days
Sales Term
Local : Bank transfer,
Prepayment, D/P, Credit 30-90 days
International : Telegraphic transfer,
Prepayment, D/P, Credit 30-90 days
Trade Reference/
Payment Behaviour
Comments : As local and international
trade references were not supplied, the Subject's
payment track record history cannot be appropriately determined
but based
on our research, payments are believed to be met without delay.
Investigation Note
Sources : Interviews and material
provided by the Subject
Other official and local business sources
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.41 |
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UK Pound |
1 |
Rs.99.29 |
|
Euro |
1 |
Rs.83.68 |
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 |
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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 |
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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.