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Report Date : |
22.10.2013 |
IDENTIFICATION DETAILS
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Name : |
TEMBEC INC |
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Registered Office : |
800 Bld Rene Levesque, |
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Country : |
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Year of Establishment : |
1972 |
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Legal Form : |
Public Company |
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Line of Business : |
Subject engaged in the production and sale of forest, pulp, and paper
products |
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No. of Employees : |
3,700 |
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 but correct |
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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) |
|
|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
As an affluent, high-tech industrial society in the
trillion-dollar class,
|
Source : CIA |
Company name: TEMBEC
INC.
Address: 800 Bld Rene Levesque,
Canada
Telephone: +1 517-871-0137
Fax: +1 517-397-0896
Website: www.tembec.com
Corporate ID#: 4461851
State: Federal
Judicial form: Public Company (TMX = TMB)
Date incorporated: 01-16-2008
Date founded: 1972
Stock: 100,000,000
shares issued and outstanding.
Value: No
par value
Name of manager: James
M. LOPEZ
Business:
Holding Company
Tembec Inc., an integrated forest products company, with its
subsidiaries, engages in the production and sale of forest, pulp, and paper
products worldwide.
The group operates in four segments: Forest Products, Specialty
Cellulose and Chemical Pulp, High-Yield Pulp, and Paper.
The Forest Products segment produces and sells a range of forest
products comprising spruce, pine, and fir lumber; specialty wood; and
engineered wood to large retailers, industrial end-users, and distributors.
The Specialty Cellulose and Chemical Pulp segment engages in the
manufacture and marketing of specialty cellulose and chemical pulps, including
the transformation and sale of resins and pulp by-products.
The High-Yield Pulp segment is involved in the manufacture and marketing
of hardwood high-yield paper pulps.
The Paper segment produces and sells coated bleached board for use in
commercial printing; and newsprint for the publication of daily newspapers.
Tembec Inc. was founded in 1972 and is headquartered in Montreal, Canada
Staff: 3,700
Operations & branches:
At the headquarters, we
find the corporate office, on lease.
The Company maintains a
branch located:
10 Chemin Gatineau
Temiscaming, Quebec J0Z 3R0 – Canada
Shareholders:
The Company is listed with
the Toronto Stock Exchange under symbol TMB.
Management:
James M. LOPEZ has been the Chief Executive Officer and President of Tembec
Inc. since January 26, 2006 and January 27, 2006 respectively and of its
subsidiary Tembec Industries, Inc.
Mr. Lopez served as an Executive Vice President and President of Forest
Products Group of Tembec Inc. from August 2003 to January 26, 2006 and of its
subsidiary Tembec Industries, Inc. Mr. Lopez served as an Executive Vice
President and Resources Management of Tembec Inc. and Tembec Industries, Inc.
from 1999 to August 2003. Mr. Lopez served as Chairman of the Ontario Forest
Industry Association (OFIA), of the Forest Engineering Research Institute of
Canada (FERIC), and of WoodWorks Canada Corp. He serves as Vice Chairman of the
Forintek Canada Corp. He has been Director of Tembec Inc. since February 29,
2008 and has been Director of Tembec Industries, Inc. since January 2006. Mr.
Lopez joined Tembec in 1989 and has held a number of operating and staff roles
of increasing responsibility, including the management of a number of its
business units. He also served as Director of Tembec Inc. from January 26, 2006
to February 29, 2008.
He holds Bachelor Degree of Economics from California University of
Pennsylvania.
Dennis ROUNSVILLE has been Executive Vice President of Tembec Inc. since
January 27, 2006 and serves as President of Forest Products Group.
Directors include James M. LOPEZ, Norman M. BETTS, Lorie WAISBERG,
Francis Matthew SORICCO, James E. BRUMM, David John STEUART, James
Norris CHAPMAN, James V. CONTINENZA, Michel DUMAS, Jacques LEDUC, Pierre
LORTIE.
As far as we know, they are involved in other corporations, including:
Subsidiaries
And partnership:
- INDUSTRIES TEMBEC INC
- TEMBEC COMPANIE DE CONSTRUCTION INC
- PLACEMENTS TEMBEC
…
On attachment:
- 10K 2012 (fiscal year
ending September 2012)
- 3rd 10Q 2013
On August 1, 2013, Tembec Inc. reported consolidated unaudited earnings
results for the third quarter and nine months ended June 29, 2013.
For the quarter, the company reported sales of CAD 399 million compared
to
CAD 415 million a year ago. Operating earnings were CAD 17 million
compared to CAD 14 million a year ago. Net loss was CAD 4 million compared to
CAD 5 million a year ago. Basic and diluted net loss per share was CAD 0.04
compared to CAD 0.05 a year ago. Cash flow from operating activities was CAD 16
million compared to CAD 16 million a year ago. Additions to property, plant and
equipment was CAD 1 million compared to CAD 24 million a year ago.
Operating earnings before depreciation, amortization and other items
(adjusted EBITDA) was CAD 30 million compared to adjusted EBITDA of CAD 27
million a year ago and adjusted EBITDA of CAD 24 million in the prior quarter.
For the nine months, the company reported sales of CAD 1,182 million
compared to CAD 1,223 million a year ago. Operating earnings were CAD 16
million compared to CAD 9 million a year ago. Loss before income taxes were
CAD 24 million compared to CAD 18 million a year ago.
Net loss was CAD 40 million compared to CAD 35 million a year ago. Basic
and diluted net loss per share was CAD 0.40 compared to CAD 0.35 a year ago.
Cash flow from operating activities was CAD 26 million compared to CAD 2
million a year ago.
Banks: Banque de Montreal
…
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: Several
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.61.49 |
|
UK Pound |
1 |
Rs.99.41 |
|
Euro |
1 |
Rs.84.12 |
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 |
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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 |
|
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.