|
Report Date : |
30.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
FMC AGRICULTURAL PRODUCTS INTERNATIONAL AG |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
Hongkong |
|
|
|
|
Date of Incorporation : |
03.11.1999 |
|
|
|
|
Com. Reg. No.: |
30461292 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Manufacturing, |
|
|
|
|
No. of Employees : |
15 |
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 : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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) |
|
Hongkong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
HONGKONG - ECONOMIC OVERVIEW
Source
: CIA
FMC
AGRICULTURAL PRODUCTS INTERNATIONAL
AG
(Incorporated
in
(Also known as:
FMC AGRICULTURAL PRODUCTS INTERNATIONAL SA or
FMC AGRICULTURAL PRODUCTS INTERNATIONAL INC.)
ADDRESS:
PHONE: 852-2839 6600
FAX: 852-2576 2918, 2576 3178
Authorised
Representatives in
Mr. Zhang Yi Hua
Registered in
(Non-Hong Kong Company)
Organization: Limited Company.
Capital: Authorised: CHF 100,000.00
Issued & Paid Up: CHF 100,000.00
Business Category: Chemical Agricultural Product Manufacturer.
Group Revenue:- (Year ended 31-12-2012)
US$3,748.3 million (Whole Group)
US$1,763.8 million (Agricultural Products Group)
Company Employees: 15.
Group Employees: Approx. 5,700. (As at 31-12-2012)
Main Dealing Banker: Citibank N.A., Hong Kong Branch.
Banking Relation: Very Good.
Registered Office:-
Rigistrasse 184,
6340
Sales Offices:-
Manufacturing Locations:-
Parent Company:-
FMC Corporation
[Tel:
1-215-299-6000; Fax: 1-215-299-5998]
Subsidiaries & Associated
Companies:-
FMC Group of
Companies
FMC (
FMC Agroquimica de
Mexico S.R.L.
FMC Asia-Pacific
Inc., USA/Hong Kong.
FMC
FMC BioPolymer UK
Ltd.,
FMC Chemical
International AG,
FMC Chemical
FMC Chemicals
Ltd.,
FMC Chemicals
FMC Finance B.V.,
FMC Foret S.A.,
FMC India Private
Ltd.,
FMC International
- Irish Partnership,
FMC Italy s.r.l.,
FMC of Canada
Ltd.,
FMC Philippines
Inc.,
FMC Quimica do
FMC Specialty
Alkali Corporation,
FMC WFC I Inc.,
FMC Wyoming
Corporation,
Minera Del
Altiplano S.A.,
P.T. Bina Guna
Kimia,
Phytone Ltd.,
Ruralco Soluciones
SA,
etc.
30461292
F0009856
(As per registry dated 03-11-2012)
|
Name |
Address |
|
HA
Fu Lam, Ricky |
Flat G, 40/F., Block 2, Illumination Terrace, |
|
ZHANG Yi Hua |
Flat B, 39/F., Tower 4, |
Authorised Capital: CHF 100,000.00
Issued & Paid Up Capital: CHF 100,000.00
FMC Corporation,
(As per registry dated
03-11-2012)
|
Name (Nationality) |
Address |
|
Peter R. ALTENBURGER |
Witellikerweg 21, 8702 |
|
Werner Martin LEDERER |
Lerchenbergstrasse 92, 8703 |
|
Marc HULLEBROECK |
Unit B, 19/F., |
Not available. (As per registry dated 03-11-2012)
The subject was incorporated in
The subject was formerly located at Suite 2401-2402, 24/F., Central Plaza, 18 Harbour Road, Wanchai, Hong Kong, moved to Suite 1706, 17/F. of the same building on 5th November, 2001; and further moved back to Suite 2402, 24/F. of the same building in October 2005.
Apart from these, neither material change nor amendment has been ever traced and noted.
Activities: Manufacturing,
Lines: All kinds of chemical agricultural products.
Company Employees: 15.
Group Employees: Approx. 5,700. (As at 31-12-2012)
Commodities Imported: Imported
from Europe,
Markets:
Group Revenue:-
|
FY |
Whole Group |
Agricultural
Products Group |
|
Year ended 31-12-2008 |
US$3,115.3 million |
US$1,058.7 million |
|
Year ended 31-12-2009 |
US$2,826.6 million |
US$1,051.6 million |
|
Year ended 31-12-2010 |
US$3,116.3 million |
US$1,241.8 million |
|
Year ended 31-12-2011 |
US$3,377.9 million |
US$1,464.5 million |
|
Year ended 31-12-2012 |
US$3,748.3 million |
US$1,763.8 million |
Terms/Sales: L/C or as per contracted.
Terms/Buying: As per contracted.
Authorised Capital: CHF 100,000.00
Issued & Paid Up Capital: CHF 100,000.00
Group Net Income: US$304.6 million (Year ended 31-12-2008)
US$228.5 million (Year ended 31-12-2009)
US$172.5 million (Year ended 31-12-2010)
US$365.9 million (Year ended 31-12-2011)
US$416.2 million (Year ended 31-12-2012)
Segment Result (Agricultural Products Group):-
US$245.2 million (Year ended 31-12-2008)
US$289.0 million (Year ended 31-12-2009)
US$309.5 million (Year ended 31-12-2010)
US$348.3 million (Year ended 31-12-2011)
US$450.7 million (Year ended 31-12-2012)
Profit or Loss: Business is profitable.
Condition: Keeping in an active manner.
Facilities: Making active use of general banking facilities.
Payment: So far so good.
Commercial Morality: Satisfactory.
Banker: Citibank N.A., Hong Kong Branch.
Standing: Very Good.
Founded in 1999, FMC Agricultural Products International AG is also known as FMC Agricultural Products International SA or FMC Agricultural Products International Inc. Registered as a non-Hong Kong company in Hong Kong, the subject was incorporated in Switzerland.
The subject has got an affiliated company FMC Asia-Pacific Inc. located at the same address. Incorporated in the United States, FMC Asia-Pacific Inc. was registered on 31st August, 1984 in Hong Kong as a non-Hong Kong company.
The subject’s holding company FMC Corporation [FMC] is a listed firm in the United States. It has been listed in New York Stock Exchange and Chicago Stock Exchange. FMC was incorporated in 1928 under Delaware law and has its principal executive offices at 1735 Market Street, Philadelphia, Pennsylvania 19103, the United States.
FMC operates in three distinct business segments: Agricultural Products, Specialty Chemicals and Industrial Chemicals. Its Agricultural Products segment develops, markets and sells all three major classes of crop protection chemicals – insecticides, herbicides, and fungicides – with particular strength in insecticides and herbicides. These products are used in agriculture to enhance crop yield and quality by controlling a broad spectrum of insects, weeds and disease, as well as pest control in non-agricultural markets.
FMC has set up offices in Indonesia, Australia, Pakistan, South Korea, Bangladesh, etc. FMC’s plants are in China (Suzhou, Zhangjiagang of Jiangsu Province, China), Indonesia (Jawa Tengah) and Pakistan (Lahore). The subject is the Business and Regional Headquarters of the FMC Group.
FMC is one of the world’s foremost, diversified chemical companies with leading positions in agricultural, industrial and consumer markets. From its inception in 1883, FMC has been providing solutions to the world’s companies and their customers.
In the Agricultural Products Group, FMC Agricultural Products (also known as the Crop Solutions business) provides crop protection and pest control products for worldwide markets. The Pest Solution business serves the structural pest control, turf and ornamental, and home and garden markets. Pest management is also about managing business. That’s why FMC has developed SmartBiz and SmartBiz Mobile to help its clients take care of the business of pest management. FMC Agricultural Products Group provides cost-effective, superior-performing insecticides (synthetic chemical intermediates) and herbicides (synthetic chemical intermediates) for use on a broad range of crops and pests. Its products control pests to help farmers maximise yields. FMC is a leader in developing innovative and unique solutions to its customers toughest pest problems with products such as “Aim®” herbicide, “Capture®” insecticide/miticide and “Mustang Max™” insecticide.
Agricultural Products provides a wide range of proprietary, branded products — based on both patented and off-patent technologies — for global crop protection, professional pest control, and lawn and garden markets.
Insecticides represent the majority of FMC’s sales in the Agricultural Products segment, particularly pyrethroid and carbamate chemistries, in which FMC maintains leading market positions based on revenues.
The Group’s China firms are the following five:-
FMC (Shanghai) Chemical Technology Co. Ltd.
FMC (Shanghai) Commercial Enterprise
FMC (Suzhou) Crop Care Co. Ltd.
FMC Specialty Chemicals (Zhangjiagang) Co. Ltd.
Guangzhou Co-Living International Biology Technology Co. Ltd.
In FY 2012, the Group’s Agricultural Products segment, which represented approximately 47% of its 2012 consolidated revenues, operated in the agrochemicals industry. This segment develops, manufactures and sells a portfolio of crop protection, professional pest control and lawn and garden products.
Agricultural Products’ portfolio is comprised of three major pesticide categories: insecticides, herbicides and fungicides. Insecticides represent the largest product line in its Agricultural Products segment, which include its pyrethroid and carbamate chemistries, in which it maintained leading market positions based on revenues. Its herbicide portfolio primarily targets niche uses and controls a wide variety of difficult-to-control weeds. In 2011, the Group acquired iprodione and prochloraz fungicides for all agricultural uses outside of Europe. This acquisition strengthened its fungicide portfolio offerings as these two fungicides are highly effective, resistance management technologies that are used in more than 50 countries, primarily in the tree, fruit and vegetable markets.
The Group accesses key Asian markets either through local independent distributors or its own sales and marketing organizations.
The three principal categories of agricultural and non-crop chemicals are herbicides, representing approximately half of global industry revenue; insecticides, representing approximately a quarter of global industry revenue; and fungicides, representing most of the remaining portion of global industry revenue.
The agrochemicals industry is relatively consolidated. Leading crop protection companies, Syngenta AG, Bayer AG, Monsanto Company, BASF AG, The Dow Chemical Company and E. I. du Pont de Nemours and Company (DuPont), currently represent approximately 70 percent of the industry’s global sales. The next tier of agrochemical producers include FMC, Makhteshim-Agan Industries Ltd., Sumitomo Chemical Company Limited, Nufarm Limited, Arysta LifeScience Corporation, United Phosphorous Limited and Cheminova A/S. This tier employs various differentiated strategies and compete through unique technologies focusing on certain crops, markets and geographies, and competitive pricing based on low-cost manufacturing positions.
For the year ended 31st December, 2012, revenue of the Group’s Agricultural Products was US$1,763.8 million, an increase of 20.4% versus 2011 (2011: US$1,464.5 million). The operating profit of this segment was US$450.7 million, grew by 29.4% versus 2011 (2011: US$348.3 million).
In FY 2012, the Group employed approximately 5,700 people, with about 2,700 people in its domestic operations and 3,000 people in its foreign operations. Approximately 31% of its US-based and 32% of its foreign-based employees, respectively, are represented by collective bargaining agreements.
The Chairman and Chief Executive Officer of the FMC Group is Mr. Pierre Brondeau. He was appointed on 1st October, 2010 as William G. Walter who is aged 68 retired in early 2010.
On the whole, in view of the background, history and parentage of the subject, consider it good for normal business engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.46 |
|
|
1 |
Rs.98.99 |
|
Euro |
1 |
Rs.84.72 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.