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Report Date : |
23.09.2013 |
IDENTIFICATION DETAILS
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Name : |
FOREST FIBERS INC. |
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Registered Office : |
5000 Rue Armand-Frappier, Longueil, Quebec J3Z 1G5 |
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Country : |
Canada |
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Date of Incorporation : |
04.09.2001 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Exporters of paper products. |
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No. of Employees : |
15 |
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
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
Source
: CIA
Company name: LES FIBRES FORESTIERES INC. (in French)
FOREST FIBERS INC. (in English)
Address: 5000 Rue Armand-Frappier, Longueil, Quebec J3Z 1G5
Canada
Telephone: +1 450-466-6688
Fax: +1 450-466-8870
Website: www.forestfibersinc.com
Corporate ID#: 1160304631
State: Quebec
Judicial form: Corporation – Profit
Date incorporated: 09-04-2001
Date founded: 08-28-2001
Stock: -
Value: -
Name of
manager: Dominic COLUBRIALE
Business:
Forest Fibers' mission is to connect North American suppliers to sell their paper products overseas and supply its worldwide-based customers at the best price possible.
Forest Fibers is a fully integrated solution provider. Since its foundation, Forest Fibers quickly became one of the leading exporters of paper products in North America.
With over twenty years of experience in the recycling business, President Domenic Colubriale surrounded himself with an efficient, dynamic, customer- oriented team, each with several years experience in the industry.
Forest Fibers' worldwide network, created by a diverse and creative team,
allows the company to export high volumes of all grades of papers, foil laminated, poly board and all specialty grades to several different markets, including China, India, Western Europe and South America.
The Company is also importing and exporting meat.
The Company is using several registered fictitious names:
- AMERICAN MEAT PURVEYORS
- AMP TRADING
- BUYRITE TM
- C & C FIBRES
- FOURNISSEUR DE VIANDES AMERICANA
- LES COURTAGES AMP
- LIMAC CANADA
Staff: 15
Operations
& branches:
At above
address, we find the corporate office, on lease.
The Company
maintains a branch located:
1530 Crois. Rougemont
Brossard, Quebec J4X 2V1
Shareholders:
THE D.A.C. FAMILY TRUST (+50%)
7555 Avenue de Lugano
Brossard, Quebec J4Y 3G2 - Canada
Management:
Dominic
COLUBRIALE is the President and CEO.
As far as
we know, he is also the President of:
TRANSPORT FIBRES FORESTIERES INC.
7900 Bld Tascherau Ouest, Bureau 203C
Brossard, Quebec J4X 1C2 – Canada
In Canada, privately
held corporations are not required to publish any financials.
On a direct
call, a Secretary controlled the present report but deferred any financials.
We sent a
fax but no answer received.
However,
estimate revenue for year 2011 is in the range of CAD 4,200,000=
The
business is profitable.
Banks: Banque de Montreal
...
Legal filings & complaints:
As of today date, there is no legal filing pending with the District Courts.
Secured debts summary: None
Trade
references:
Date
reported: July 2013
High
credit: CAD 15,000
Now owing: 0
Past due: 0
Last
purchase: June 2013
Line of
business: Office supply
Paying
status: 2 days beyond terms
Date
reported: July 2013
High
credit: CAD 25,000+
Now owing: 0
Past due: 0
Last
purchase: June 2013
Line of
business: Payroll
Paying
status: As agreed
Date
reported: July 2013
High
credit: CAD 600
Now owing: 0
Past due: 0
Last
purchase: June 2013
Line of
business: Telecommunications
Paying status: On terms
Domestic
credit history appears as follow:
|
Monthly
Payment Trends - Recent Activity |
|
National Credit
Bureaus gave a correct credit rating.
According to our credit analysts, during the last 6 months, domestic payments were made with an average of 2 days beyond terms.
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 01-15-2013.
The risk
remains low.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.24 |
|
|
1 |
Rs.99.90 |
|
Euro |
1 |
Rs.84.23 |
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 |
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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 |
|
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.