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Report Date : |
25.09.2013 |
IDENTIFICATION DETAILS
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Name : |
TECHNO BAR LTD. |
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Formerly Known As : |
TECHNOBAR |
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Registered Office : |
P.O. Box 5141, Rishon
Le-Zion (7515002), 10 Lazarov Street, Industrial Zone, Rishon Le-Zion 7565416 |
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Country : |
Israel |
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Date of Incorporation : |
08.08.1973 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers, traders
and marketers of stainless steel products, industrial piping and metals to
the industry, including: plates, sheets, bars, pipes and tubes, and
accessories |
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No. of Employees : |
100 |
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 : |
Unknown |
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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) |
|
Israel |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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 |
ISRAEL - ECONOMIC
OVERVIEW
Israel has a technologically
advanced market economy. Its major imports include crude oil, grains, raw
materials, and military equipment. Cut diamonds, high-technology equipment, and
pharmaceuticals are among the leading exports. Israel usually posts sizable
trade deficits, which are covered by tourism and other service exports, as well
as significant foreign investment inflows. The global financial crisis of
2008-09 spurred a brief recession in Israel, but the country entered the crisis
with solid fundamentals - following years of prudent fiscal policy and a
resilient banking sector. The economy has recovered better than most advanced,
comparably sized economies. In 2010, Israel formally acceded to the OECD.
Israel's economy also has weathered the Arab Spring because strong trade ties
outside the Middle East have insulated the economy from spillover effects.
Natural gasfields discovered off Israel's coast during the past two years have
brightened Israel''s energy security outlook. The Leviathan field was one of
the world''s largest offshore natural gas finds this past decade, and
production from the Tama field is expected to meet all of Israel''s natural gas
demand beginning mid-2013. In mid-2011, public protests arose around income
inequality and rising housing and commodity prices. The government formed
committees to address some of the grievances but has maintained that it will
not engage in deficit spending to satisfy populist demands.
Source
: CIA
TECHNO BAR LTD.
(Also known as TECHNOBAR)
Telephone 972
3 963 23 33
Fax 972
3 961 92 43 /6
P.O. Box 5141, Rishon Le-Zion (7515002)
10 Lazarov Street Industrial Zone
RISHON LE-ZION 7565416 ISRAEL
A private limited company, incorporated as per file No. 51-065779-4 on the
08.08.1973.
In 1997 took over the business activities of its sister company SHLOMO
BARTAL & SONS LTD. (which turned into a real estate company), Bartal family
private company incorporated in 1971, which succeeded the operation of a sole
proprietorship called "TECHNICA & AGRICULTURE", established in
1946 by Shlomo Bartal.
Authorized share capital NIS 280.00, divided into -
2,799,000
ordinary shares (2,379,050 shares issued),
1,000 founder shares (issued), all of
NIS 0.0001 each, of which shares amounting to NIS 238.005 were issued.
(Note: The currency in share
capital was originally in Old Israeli Shekel whose nominal value was 1
thousandth of the current New Israeli Shekel (NIS), converted in 1986).
1. Shlomo Bartal, 50% (of founder and ordinary shares issued),
2. Aharon Bartal, 50% of founder shares and 25% of ordinary shares issued,
3. Israel Bartal, 25% of ordinary shares issued.
1. Aharon Bartal, General Manager, son of Shlomo Bartal,
2. Shlomo Bartal.
Importers, traders and marketers of stainless steel products, industrial
piping and metals to the industry, including: plates, sheets, bars, pipes and
tubes, and accessories (fittings, flanges, valves and control valves, steam
systems).
All sales are to the local market.
Among customers: Ministry of Defense, AGAN CHEMICAL MANUFACTURERS, TNUVA,
STRAUSS GROUP/ ELITE, OSEM, DEAD SEA WORKS, THE ISRAEL ELECTRIC CORP., MAKTESHIM
CHEMICALS WORKS, OIL REFNERIES, TEVA PHRAMACEUTICAL INDUSTRIES, K.B.A.
TOWNBUILDERS GROUP, INTEL ISRAEL, ISRAEL AEROSPACE INDUSTRIES
Most of purchases are from import.
Among local products suppliers: FRC - AGENCIES (agencies)
Among local suppliers which subject is a local distributor for: HABONIM
INDUSTRIAL VALVES, HAM-LET, MIDDLE EAST TUBE CO.
Subject sells goods by foreign manufacturers, including of GEORGE FISCHER,
ESCO, CARDINAL UHP.
Among service suppliers: SAP ISRAEL.
Sole local representatives of:
JHONSON (KADANT), of USA (Fluid Handling)
AXAIR, WALTERMEIER, both of Switzerland.
Among foreign suppliers: MARCEGALI (Italy), etc.
Operating from the following premises:
1. Offices and warehouses, owned by the shareholders, on an area of 7,000 sq.
meters, in 10 Lazarov Street, Industrial Zone, Rishon Le-Zion.
2. Owned warehouses, on an area of 1,400 sq. meters, in Hebron Road, Sara
Valley Industrial Zone, Beer Sheva.
3. A rented store, on an area of 1,100 sq. meters in 41 Shlomo Bar Yoseph
Street, Industrial Zone, Kiryat Ata.
Had 100 employees as of the end of 2009 (same as in 2008). Current number
of employees not forthcoming.
Stock was valued at NIS 50,000,000 at the beginning of 2009.
Other and later financial data not forthcoming.
There are 6 charges for unlimited amounts registered on company’s assets
(financial assets and fixed assets), in favor of The First International Bank
of Israel Ltd., Bank Leumi Le'Israel Ltd. and Bank Hapoalim Ltd. (lastest charges placed in 2012 and 2013, also on financial assets, prior
to that charge was placed in 2008, also on financial assets).
2006 sales claimed to be circa NIS 140,000,000.
2007 sales claimed to be circa NIS 150,000,000.
2008 sales claimed to be circa NIS 140,000,000.
Later sale figures not forthcoming.
BARTAL SHLOMO & SONS LTD., owned by Bartal
family, a real estate company.
TAHALICH-PROPERTIES & INVESTMENTS (1985)
LTD., a real estate company.
Bank Leumi Le’Israel Ltd., Rishon Le-Zion Business Branch (No. 671), Rishon
Le-Zion, account No. 91100/96 – main account.
A check with the Central Banks' database did not reveal any negative
information regarding subject’s a/m account.
Note: Bank data is based on data from the last interview with subject's
officials in 2009 when they still cooperated with us).
Nothing unfavorable
learned.
Despite our efforts, we were unable to speak with subject's officials, as
they were always unavailable. We left messages and sent a fax, which remain
unanswered.
In the last years,
subject's General Manager, Mr Aharon Bartal, refused to
update any data on his company.
In case they return to us with fresh data, we will update you accordingly.
Subject is long
established family company, well-known in its field. Among subject’s clients
are leading local industrial corporations.
Subject is ISO
9001:2000 certified.
According
to data by of the Metal, Electrical and Infrastructure Industries Association,
representing the local Metal and Electricity Industries, which includes large
scale export-oriented industries on one hand and family-owned plants which sell
to the local market: 2010 sales (local and export) by the said industries
amounted to NIS 70 billion, comprising 25% of Israel's industrial output.
Results are similar to 2008 scales, after some 20% drop in 2009 due to the
significant slow-down in the local economy, affected by the global financial
and economic crisis.
According to the Central
Bureau of Statistics (CBS), import of metals raw materials to
the local industries in 2012 marked a decreasing trend, after a remarkable
recovery in the years 2010 and 2011 from 2009 (a year where the local industry
suffered from slow-down in economy). Import of raw materials divided in 2012 as
follows: Iron and Steel – fell by 11.5%, reaching US$ 2,177 million (after
rising by over 30% per year in 2010 and in 2011); Precious Metals – down 13%
(after rising by 2% in 2011 and 22.5% in 2010) and reaching US$ 146 million;
Non-ferrous Metals – fell by 13% (after increase by 20% in 2011 and by 41% in
2010), reaching US$ 803 million.
Central Bureau of Statistics data reveals that
investments by the local manufacturing industries -both from import and
domestic production- in machinery & equipment (M&E) in 2012 fell by 1%,
which comes after 41% rise in 2011. The investments originating from import,
which comprised 70% of overall investment in M&E, fell 3.8% (after 69% rise
in 2011), while investment originating from local production rose by 6.2% in
2012 (fell 5.3% in 2011).
Gross
Domestic Capital Formation (investment) in machinery & other equipment in 2012 reached (in current prices) NIS 47,540 million, of
which NIS 33,336 million was from imports and NIS 14,204 miilion from domestic
production.
Import of investment products - machinery
and equipment segment - for the local industry rose in 2012 by 2% from 2011,
reaching NIS 26,529.2 million (in $ currency terms, import fell by 5%).
Notwithstanding
the refusal to update data, considered good for trade engagements.
Note: Since February 2013 Israel Post has started
using a new area code method of 7 digits (the old method of 5 digits is no
longer valid).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.62.66 |
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|
1 |
Rs.100.46 |
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Euro |
1 |
Rs.84.60 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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 |
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NB |
New Business |
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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.