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Report Date : |
02.09.2013 |
IDENTIFICATION DETAILS
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Name : |
NOVATEL INC. |
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Registered Office : |
1120 68th Avenue NE, Calgary, Alberta T2E 8S5 |
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Country : |
Canada |
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Date of Incorporation : |
01.08.2009 |
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Legal Form : |
Federal Corporation – Profit |
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Line of Business : |
Manufactures and distributes precision global navigation satellite
system (GNSS) components and subsystems. |
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No. of Employees : |
260 |
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) |
|
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: NOVATEL INC.
Address: 1120 68th Avenue NE,
Calgary, Alberta T2E 8S5 - Canada
Telephone: +1
403-295-4500
Fax: +1 403-295-4501
Website: www.novatel.ca
Corporate ID#: 4529189
State: Federal
Judicial form: Federal Corporation – Profit
Date incorporated: August 1,
2009
Stock: -
Value: -
Name of manager: Michael
RITTER
History:
Business issued from the
merger of:
- NOVATEL INC (Federal
ID# 762261) started in 1978.
- 7194803 CANADA INC.
Business:
Novatel Inc. manufactures and distributes precision global navigation
satellite system (GNSS) components and subsystems.
It offers receivers, SPAN GNSS inertial systems, antennas, SMART
antennas, firmware, enclosures, scintillation and TEC monitors, and ground reference
and uplink receivers; and anti-jamming, attitude, heading, integrity monitoring
and augmentation, positioning, relative positioning, smooth positioning
trajectory, timing, and velocity solutions.
The company also provides NovAtel Connect, a Windows based real time
configurable display interface for users to access receiver’s features; a real
time GNSS and GNSS-INS post-processing software; and a real time trajectory determination software. It
serves aerospace, agricultural, construction, mining and industrial, defense,
marine, mobile mapping, GNSS signal monitoring, surveying, timing application,
geographical information system mapping, precision agriculture machine
guidance, port automation, and unmanned system industries; and aviation ground networks
in the United States, Japan, Europe, China, and India.
The company was founded in 1978 and is headquartered in Calgary, Canada.
Novatel Inc. operates as a subsidiary of Hexagon AB.
Staff: 260
Operations & branches:
At the headquarters, we find
a factory, warehouse and office, on
46,000 sq. ft.
Shareholders:
Hexagon AB (Public Company)
Lilla Bantorget 15
SE-103 59 Stockholm - Sweden
Ph: +46 8 601 26 20
Fx: +46 8 601 26 21
Management:
Michael RITTER is the President, Director and CEO
He has been Chief Executive Officer and President of NovAtel Inc. since
January 2009. Mr. Ritter has over twenty years of experience in the precise
Global Navigation Satellite System (GNSS) industry.
He served as a Senior Executive of Trimble Navigation Ltd. and was
successful in implementing winning product and organizational strategies that
were critical in driving both customer satisfaction and corporate revenues.
Prior to Trimble, Mr. Ritter held senior positions with Schlumberger and
various other companies around the world.
Patrick Charles FENTON IS Director and CTO.
Other Directors include Sven-Eric Hakan HALEN, and Ola ROLLEN.
Werner GARTNER is the CFO.
As far as we know, they are not involved in other local corporations.
Subsidiaries
And partnership: None
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 fiscal
year ending August 2013 is in the range
CAD 50,000,000=
The business is profitable.
Banks: Royal Bank of Canada
…
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary (UCC):
Several
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.66.57 |
|
UK Pound |
1 |
Rs.103.34 |
|
Euro |
1 |
Rs.88.16 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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 |
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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 |
|
-- |
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.