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Report Date : |
16.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
AVERY DENNISON MATERIALS PTY LTD |
|
|
|
|
Registered Office : |
Level 18, Grosvenor Place 225 George Street Sydney New South Wales
2000 |
|
|
|
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Country : |
Australia |
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|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
22.07.1970 |
|
|
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Com. Reg. No.: |
007706934 |
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|
|
|
Legal Form : |
Australian Proprietary Company |
|
|
|
|
Line of Business : |
Manufacturing & sales of adhesive labels. |
|
|
|
|
No. of Employees : |
400 |
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) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 : AVERY
DENNISON MATERIALS PTY LTD
Other style / Business name : FASSON
Business address : 1104-1124
Centre Road
Town : Oakleigh
South
Province : Victoria
Zip/postal code : 3167
Country : Australia
Tel : +61 3 92710300
Fax : +61
3 92710333
Website : www.fasson.com.au
Registered address : C/o
NORTON ROSE AUSTRALIA
Level 18,
Grosvenor Place
225 George Street
Town : Sydney
Province : New
South Wales
Zip/postal code : 2000
Country : Australia
Executive Summary
Date founded or registered : 22/07/1970
Legal form : Australian
Proprietary Company
Chief executive : David
Roland Martin
Issued & paid up capital : AUD
9,000,000
Sales turnover : USD
6,035,600,000 (Group-Consolidated 12 months, 31/12/2012)
Net income : USD
215,400,000 (Group-Consolidated 12 months, 31/12/2012)
Total fixed assets : USD
5,105,300,000 (Group-Consolidated 12 months, 31/12/2012)
Line of business : Manufacturing
& sales of adhesive labels.
Staff employed : 400
employees (Subject); 29,800 employees (Avery Dennison Group)
Company Analysis
Country risk : Country
risk is minimal
Operation trend : Operational
trend is progressing
Management experience : Management
is adequately experienced
Financial performance : Financial
performance is very good
Organization structure : Organizational
structure is stable
Detrimental : No detrimental found
Payment history : No
payment delays noted
Comments : Larger
credit can still be considered. The Subject is well positioned in the market
and the financial stability of the group is positive.
Registry Data
Registration date : 22/07/1970
Legal form : Australian
Proprietary Company
Registration no Australian Company Number: 007706934
Registered authority : Australian
Securities and Investments Commission
Fiscal/ Tax no : Australian
Business Number: 92007706934
Registry status : Live/Active
Previous name : FASSON
PTY. LIMITED (initial)
Change of legal form : None
reported.
Other registration
: FASSON
is a business name owned by the Subject registered on 22/09/2000
under business registration no: BN03809821.
Key Management
Name : David
Roland Martin
Designation : Managing
Director
Name : Ian
David Brown
Designation : Financial
Director
Appointments
Name : Karyn
Elizabeth Rodriguez
Designation : Director
Appointment date : 21/08/01
Address : 750
Hastings Ranch Drive
Pasadena, CA 91107
United States
Biography : Born
on 31-08-1959 in New York, United States.
Name : David
Roland Martin
Designation : Director
Appointment date : 01/01/06
Address : 1
Carrington Grove
Brighton East, VIC 3187
Australia
Biography : Born
on 18-06-1964 in Adelaide, South Australia, Australia.
Name : Ian
David Brown
Designation : Director
Appointment date : 15/12/08
Address : 276
Galston Road
Galston, NSW 2159
Australia
Biography : Born
on 24-09-1964 in Boxford, United Kingdom.
Name : Georges
Gravanis
Designation : Director
Appointment date : 01/08/10
Address : Flat
B, 1/F., 127 Repulse Bay Road
Repulse Bay
Hong Kong
Biography : Born
on 01-01-1958 in Le Piree, France.
Name : Vikas
Arora
Designation : Director
Appointment date : 30/06/10
Address : 3905
Alta Mesa Drive
Studio City, CA
91604
United States
Biography : Born
on 14/10/1973 in Michigan, United States.
Staff employed : 400
employees (Subject); 29,800 employees (Avery Dennison Group)
Composition
Authorized Capital : AUD
9,000,000
No of shares : 9,000,000
Ordinary Shares
Share par value : AUD
1
Issued capital : AUD
9,000,000
Paid up capital : AUD
9,000,000
How listed : Full
List
Composition
Shareholder name : AVERY
DENNISON AUSTRALIA GROUP HOLDINGS PTY LIMITED
Address : 1104-1124
Centre Road
Oakleigh South,
VIC 3167
Australia
No. of shares : 9,000,000
Ordinary Shares
% of shares : 100%
Structure
Name : AVERY
DENNISON CORPORATION
Affiliation type : Ultimate
Holding Company
Address : Miller
Corporate Center
150 North Orange
Grove Boulevard
Pasadena, CA 91103
United States
Comments : Avery Dennison
Corporation engages in the production and sale of
pressure-sensitive materials worldwide. Its Pressure-sensitive Materials
segment
offers pressure-sensitive label and packaging materials, graphics and
graphic
films, reflective products, and tapes and performance polymers. This
segment
markets its products under the Fasson, JAC, Avery Dennison, and Avery
brands
to label printers and converters for labeling, decorating, fastening,
and electronic
data processing applications in the home and personal care, beer and
beverage,
durables, pharmaceutical, wine and spirits, and food market industries.
The
company’s Retail Branding and Information Solutions segment provides
branding
and information solutions, including creative services, brand
embellishments,
graphic tickets, tags, labels, and sustainable packaging solutions; and
information solutions, such as radio-frequency identification-enabled inventory
accuracy,
visibility and loss prevention solutions,
price ticketing and marking, brand
protection, and security solutions, as well
as care, content, and country or origin
compliance solutions. This segment serves
retailers, brand owners, apparel
manufacturers, distributors, and industrial
customers. It also offers specialty
tapes, engineered films, pressure-sensitive
postage stamps, and other converted
products to original equipment
manufacturers, tier suppliers, and packaging
converters; and pressure-sensitive adhesive
products to medical supply and
device manufacturers, and healthcare
providers. In addition, Avery Dennison
provides printable media and other products
comprising copiers, ink-jet and laser
printer labels, related computer software,
laser printer cards, and index products,
as well as binders, dividers, and sheet
protectors. The company was formerly
known as Avery International Corporation and
changed its name to Avery
Dennison Corporation in 1990. Avery Dennison
Corporation was founded in 1935
and is headquartered in Pasadena,
California.
Name : AVERY
DENNISON AUSTRALIA GROUP HOLDINGS PTY LIMITED
Affiliation type : Parent
Company
Address : 1104-1124
Centre Road
Oakleigh South,
VIC 3167
Australia
Name : AVERY
DENNISON MATERIALS SDN BHD
Affiliation type : Sister
Company
Address : Lot
6 Jalan P/2 Kawasan Perusahaan Bangi
43650 Bandar Baru
Bangi
Selangor Darul
Ehsan
Malaysia
Name : AVERY
DENNISON OFFICE PRODUCTS PTY LIMITED
Affiliation type : Sister
Company
Address : 11
Carrington Road
Castle Hill, NSW
2154
Australia
Name : AVERY
DENNISON MATERIALS NEDERLAND B.V.
Affiliation type : Sister
Company
Address : Rijndijk
86
2394AJ
Hazerswoude-Rijndijk
Netherlands
Name : AVERY
DENNISON MATERIALS NEW ZEALAND LIMITED
Affiliation type : Sister
Company
Address : 40
Vestey Drive
Westfield, Auckland 1060
New Zealand
Name : AVERY
DENNISON (INDIA) PRIVATE LIMITED
Affiliation type : Sister
Company
Address : Narsinghpur
Industrial Area
Six Kilometre Stone, Delhi - Jaipur Highway
District Gurgaon - 122001
Haryana
India
Name : AVERY
DENNISON SINGAPORE (PTE) LTD
Affiliation type : Sister
Company
Address : 151
Pasir Panjang Road
Pasir Panjang Distripark #03–13
Singapore 118480
Singapore
Name : AVERY
DENNISON MATERIALS GMBH
Affiliation type : Sister
Company
Address : Bembergstraße
1
D-42103 Wuppertal
Germany
Name : AVERY
DENNISON (THAILAND) LTD.
Affiliation type : Sister
Company
Address : 49/51-54
Kingkaew Road, Moo 12
Tambol Rajathewa
Bangplee District, Samutprakam Province
Thailand
Related companies
and corporate
affiliations comments : Other
companies of the Avery Dennison Group should be considered affiliates 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
Source of financial statement : Public
Record Sources
Financial statement date : 31/12/12
Type of accounts : Full
audited
Currency : US
Dollar (USD)
Consolidation type : Group
Consolidated Group Consolidated
Currency : US
Dollar (USD) US Dollar (USD)
Denomination : (x1)
One (x1) One
Date of financial year end : 31/12/12
31/12/11
Length of accounts : 12
months 12 months
Sale turnover / Income : 6,035,600,000
6,026,300,000
Gross profit : 1,577,100,000
1,521,400,000
Profit before tax : 255,500,000
232,900,000
Net income : 215,400,000
190,100,000
Non current assets : 2,693,600,000
2,753,900,000
Current assets : 2,411,700,000
2,218,800,000
Inventories : 473,300,000
475,100,000
Total assets : 5,105,300,000
4,972,700,000
Current liabilities : 2,074,500,000
1,647,100,000
Non current liabilities : 1,449,900,000
1,667,100,000
Total liabilities : 3,524,400,000
3,314,200,000
Share equity : 1,580,900,000
1,658,500,000
Retained earning : 1,910,800,000 1,810,500,000
Comments : The
group’s consolidated financial information above relates to the Subject’s
Ultimate Holding Company Avery Dennison Corporation and all its subsidiaries
which include the Subject.
Main activities : The
Subject is engaged in manufacturing of adhesive labels used on
packaging and other items. The Subject
develops pressure-sensitive adhesives and self- adhesive
base materials. Its products include
pressure-sensitive and non-adhesive
coated papers, films and foils.
The Subject is ultimately owned by Avery
Dennison Corporation. Avery
Dennison Corporation is a global manufacturer
and distributor of
pressure-sensitive adhesive materials (such
as self-adhesive labels). The
company is headquartered in Pasadena,
California.
Avery Dennison Corporation a Fortune 500
company with pivotal lines of
products are found in its Pressure-Sensitive
Materials segment,
responsible for 54 percent of sales.
The company employs 36,000 people worldwide,
with manufacturing and
distribution facilities in over 60
countries.
The company operates through 4 segments:
The Pressure-Sensitive Materials segment
manufactures and sells
pressure-sensitive roll-label materials,
films for graphic applications,
reflective highway-safety products,
performance polymers, and extruded
films.
The Office and Consumer Products segment manufactures
and sells
various office and consumer products,
including labels, binders, dividers,
sheet protectors, and writing instruments.
The Retail Information Services segment
designs, manufactures, and sells
various price-marking and brand-identification
products, including tickets,
graphic and barcode tags and labels, woven
and printed labels, and related
supplies and equipment.
Other Specialty Products segment provides
automotive and industrial
products, radio-frequency identification
(RFID) tags and inserts, specialty
tape, security printing and performance
films.
Product & services : - Pressure-sensitive
and non-adhesive coated papers, films and foils
- Self adhesive base materials
Brand : Avery
Dennison
Fasson
Purchases
Local : Yes
International : Worldwide
Sales
Local : Yes
International : Worldwide
Property &
Assets
Premises : The
Subject operates from premises at the verified heading address
consisting of a
warehouse and an administrative office.
Branches : In addition, the Subject
operates from branch offices and production facility
located at:
Production facility:
16 Hewittson Road
Elizabeth West, SA 5113
Australia
Tel: +61 8 82093201
Queensland Distribution Centre
1/67 Colebard St W
Acacia Ridge, QLD 4110
Australia
Tel: +61 7 37151700
New South Wales Distribution Centre
Unit D, 21 Loyalty Road
North Rocks, NSW 2151
Australia
Tel: +61 2 88398100
Western Australia Distribution Center
2 Pavers Circle
Malaga, WA 6090
Australia
Tel: +61 8 92096400
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 & Gaming),
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%
Purchase Term
Local : Prepayment,
Bank transfer, Credit up to 120 days
International : L/C,
Telegraphic transfer, D/P, Credit up to 120 days
Sales Term
Local : Prepayment,
Bank transfer, Credit up to 120 days
International : L/C,
Telegraphic transfer, D/P, Credit up to 120 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
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.79 |
|
|
1 |
Rs.100.70 |
|
Euro |
1 |
Rs.84.67 |
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 |
|
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.