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Report Date : |
08.10.2013 |
IDENTIFICATION DETAILS
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Name : |
TARGRAY TECHNOLOGY INTERNATIONAL INC. |
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Registered Office : |
18105 Autoroute Felix Leclerc, Kirkland, Quebec H9J 3Z4 |
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Country : |
Canada |
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Date of Incorporation : |
08.12.1989 |
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Legal Form : |
Federal Corporation – Profit |
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Line of Business : |
Subject offers solar silicon, advanced materials, and consumables for solar,
lithium-ion battery, biofuels, and optical media industries. |
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No. of Employees : |
80 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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) |
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Canada |
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 |
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.
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Source
: CIA |
Company name: TARGRAY TECHNOLOGIE INTERNATIONALE INC. (in
French)
TARGRAY TECHNOLOGY INTERNATIONAL INC. (in
English)
Address: 18105 Autoroute Felix Leclerc,
Kirkland, Quebec H9J 3Z4 Canada
Telephone: +1
514-695-8095
Fax: +1 514-695-0593
Website: www.targray.com
Corporate ID#: 2549697
State: Federal
Judicial form: Federal
Corporation – Profit
Date incorporated: December 8, 1989
Stock: -
Value: -
Name of manager: Andrew
RICHARDSON
Business:
Targray Technology International, Inc. offers solar silicon, advanced
materials, and consumables for solar, lithium-ion battery, biofuels, and
optical media industries. Its solar products include solar silicon, crystalline
cell materials, thin film materials, and module materials.
The company also provides lithium-ion battery materials, such as battery
grade lithium, anode materials, lithium, cathode active materials, anode active
materials, copper foils, aluminum foils, SBR and PVDF binders, electrolytes,
separators, and packaging materials; and biodiesel and ethanol products.
In addition, it offers mastering, replication, recycling, printing,
packaging, and molding materials for the optical media industry; and process
consumables, which include squeegees, suction cups, and wipes.
Further, Targray Technology International provides recycling services,
such as expired silver paste waste, deposition residues, spent targets, damaged
panels, panels rejected during quality control, carrier frame cleaning
services, end of life module recycling, plastic scrap, metal scrap, tabbing
ribbon and bus wire scrap, and production scrap recycling.
The company was founded in 1989 and is headquartered in Kirkland,
Canada.
It has sales offices and warehouses in Canada, the United States,
Mexico, The Netherlands, the Czech Republic, the United Kingdom, Germany, The
Netherlands, Italy, India, Hong Kong, Taiwan, China, Malaysia, Singapore, and Japan.
Staff: 80
Operations & branches:
At the headquarters, we
find a warehouse and office.
Shareholders:
THOMAS A. RICHARDSON
INVESTMENT INC. +50%
18105 TransCanada,
Kirkland, Quebec H9J 3Z4 - Canada
Thomas A.G. RICHARDSON
8A Garrison Lane,
Beaconsfield, Quebec H9W 5C2 – Canada
Management:
Andrew RICHARDSON is the President, Director and CEO.
He has been President of Targray Technology International Inc. since
November 2007.
As far as we know, he is involved in other corporations, including:
TARGRAY ENERGY MATERIALS INC.
18105 Autoroute Felix Leclerc, Kirkland, Quebec H9J 3Z4
TARGRAY REAL ESTATE HOLDINGS INC.
18105 Autoroute Felix Leclerc, Kirkland, Quebec H9J 3Z4
TARGRAY AMERICAS INC.
18105 Autoroute Felix Leclerc, Kirkland, Quebec H9J 3Z4
In Canada, privately held
corporations are not required to publish any financials.
On a direct call, a
financial assistant controlled the present report.
Sales declared for year
2012 is in the range of CAD 14,000,000=
The business is said to be
profitable.
Banks: Banque de Montreal
Scotia Bank
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: None
Haut du formulaire
Trade references:
Date reported: August 2013
High credit: CAD 25,000
Now owing: 0
Past due: 0
Last purchase: July 2013
Line of business: Office supply
Paying status: On terms
Date reported: August 2013
High credit: CAD 100,000+
Now owing: 0
Past due: 0
Last purchase: July 2013
Line of business: Payroll
Paying status: As agreed
Date reported: August 2013
High credit: CAD 600
Now owing: 0
Past due: 0
Last purchase: July 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 made on due date.
International
credit history:
Payments of imports are currently made on terms.
Other comments:
The Company maintains a
regular 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
July 2, 2013.
The risk is low.
Our opinion:
A business connection may
be conducted.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.78 |
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|
1 |
Rs.99.06 |
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Euro |
1 |
Rs.83.84 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation
is considered normal. Capable to meet normal commitments. |
Satisfactory |
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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.