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Report Date : |
07.04.2014 |
IDENTIFICATION DETAILS
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Name : |
BUNGE AGRITRADE S.A. |
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Registered Office : |
WTC Free Zone, Dr. Luis Bonavita 1294, Of. 2301, Montevideo |
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Country : |
Uruguay |
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Year of Establishments: |
2004 |
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Joint-Stock Company |
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Line of Business : |
· Subject is engaged in import and trading of agricultural products, such as bean, soybean flour & corn. Subject is also engaged in import and trading of corn and
soybean oil. |
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No. of Employees |
22 |
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 : |
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 – december 01, 2013
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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Uruguay |
A2 |
A2 |
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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 |
Uruguay ECONOMIC OVERVIEW
Uruguay has a
free market economy characterized by an export-oriented agricultural sector, a
well-educated work force, and high levels of social spending. Following
financial difficulties in the late 1990s and early 2000s, economic growth for
Uruguay averaged 8% annually during the period 2004-08. The 2008-09 global
financial crisis put a brake on Uruguay's vigorous growth, which decelerated to
2.6% in 2009. Nevertheless, the country managed to avoid a recession and keep
positive growth rates, mainly through higher public expenditure and investment,
and GDP growth reached 8.9% in 2010 but slowed in 2012-13, the result of a
renewed slowdown in the global economy and in Uruguay's main trade partners and
Common Market of the South (Mercosur) counterparts, Argentina and Brazil.
Uruguay has sought to expand trade within Mercosur and with non-Mercosur
members. Uruguay's total merchandise trade with Mercosur since 2006 has
increased by nearly 70% to more than $5 billion while its total trade with the
world has almost doubled to roughly $23 billion in 2013.
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Source : CIA |
IDENTIFICATION |
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CORRECT COMPANY NAME |
BUNGE AGRITRADE
S.A. |
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TRADE NAME |
BUNGE AGRITRADE |
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TAXPAYER REGISTRATION |
RUT 215051740010 |
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MAIN ADDRESS |
WTC Free Zone, Dr. Luis Bonavita 1294, Of.
2301, |
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DEPT/PROV/REGION/STATE |
Montevideo |
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COUNTRY |
URUGUAY |
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TELEPHONE |
(5982) 26262800 |
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CORPORATE E-MAIL |
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WEB |
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EXECUTIVE SUMMARY |
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Date of foundation |
2004 |
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permanent employees |
22 |
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Chief Executive |
RAYMUNDI, MARIO |
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Disposition |
Declined. Needed to know the requestor's name. |
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Payments policy |
Usually to terms / good |
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Credit (**) |
MODERATE RISK. (Acceptable financial
situation but limited). |
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Number of times that this company was
required: 6 |
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REPUTATION |
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NOTHING AGAINST COMPANY |
LEGAL STRUCTURE |
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LEGAL STATUS |
Joint-Stock Company |
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DATE OF INCORPORATION |
2008 |
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PLACE OF REGISTRY |
Montevideo |
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NOTARY OFFICE |
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DURATION |
100 years |
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PARENT COMPANY |
BUNGE LIMITED. |
LISTED AT STOCK |
No |
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CURRENT EXCHANGE RATE (US$) |
Ps$20.93 Pesos per US$1.= Dollar |
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COMMENTS |
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We were unable to find of legal incorporation, the amount of share capital.Aligned with a world that increasingly demands more food, in the Oriental Republic of Uruguay has worked in recent years in the use of superior technology package for the use of its soil more efficiently. So much so that the development of the sector, resulted in a greater surface area and increased agricultural production of meat, which enabled the country to increase the volume of exported grains and meat. Accompanying this development and in line with the optimization of the food chain, in 2008 Bunge begins operations in this country.Its activity is focused on the reception, storage and marketing of grain, mainly for the export market, with a frank increase in the marketing of Fertilizers, being the only company in the country that sells this input and buy their own brand cereals. For the development of their export and import activities, Bunge operates five port terminals: Puerto TGU, ONTUR and Puerto Navíos at Nueva Palmira, Puerto TGU in Fray Bentos y Puerto de Montevideo.It is a subsidiary of Bunge Limited, a global company of agribusiness, fertilizer and food, with integrated operations ranging from agriculture to the end user. Operates in North America, South America, Europe, Asia and Oceania, and has commercial, logistics and distribution capabilities throughout the world. Bunge Uruguay accepts, stores and markets grain and oilseeds, being the largest buyer of wheat in the country and being part of the four main buyers of soybeans. Turn provides the Uruguayan market soy products like husk pellets, marketing also vegetable oils from Argentine origin produced in our plants in that country. Catering to Uruguay with the same origin cereals such as maize and sorghum. Bunge Uruguay's head office is located in Uruguay Montevideo, which operates as a commercial and administrative support of all company operations in the country. |
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EXECUTIVES –
SHAREHOLDERS
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WHO IS WHO? |
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RAYMUNDI, MARIO |
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TITLE |
General Manager |
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NATIONALITY |
Argentinian |
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GALLANDAT, PABLO |
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TITLE |
General Accountant |
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NATIONALITY |
Uruguayan |
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D.O.B. |
1963 |
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ASSOCIATED AS PER OUR DATABASE TO |
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BUNGE ARGENTINA
S.A. |
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BUSINESS
BACKGROUND Bunge Argentina is one of the main agribusiness companies in Argentina. Its activity consists of the entire chain, from distribution of fertilizers, reception and storage of grains, industrialization of oil products, production of flour with various protein contents and vegetable oils, both raw and for human consumption, and trading of grains (cereals, oil products and byproducts) mainly aimed at the external market.In its daily bet for growth and as committed to the national interest, Bunge Argentina gives job to about 1,000 persons and creates indirect jobs for another 10,000 persons.Bunge Limited - a company listed in the New York Stock Exchange - based in White Plains, New York, operates in North America, South America, Europe, Asia, and Oceania, and it has commercial, logistic and distribution capacities throughout the entire world.At a world level, Bunge Limited is present throughout the entire agri-food production chain, which particularly allows it to satisfy, in a simultaneous and integrated manner, both the needs of farmers, industry and related logistic services, and the needs of its customers in the global busines market.In Argentina, with a processing capacity of over 25,000 tons a day, Bunge Argentina is the first national soybean processor. It is the second exporter in the agribusiness market and the third exporter in general. It is the first exporter of oil byproducts (flour and oils) and wheat grains, the second of corn, and the leader in soybean seeds.The 95% of production of Bunge Argentina is aimed at exportation, which is carried out by Bunge Global Markets, the international marketing division operating in over 30 countries. |
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BUSINESS HISTORY |
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Subject is part of the Bunge & Born Group, which is a multinational business corporation established in Argentina that during the 20th century was considered as the most powerful and influential corporation in the country. The Bunge & Born Group from Argentina had its axis in the company Alimentos Molinos Rio de La Plata and is part of the Holding Bunge International Ltd., based in Bermuda, one of the world's largest corporations in trading of commodities, and particularly soybean.Bunge & Born was incorporated in 1884 to be engaged in export of cereals. In 1902, the group decided to industrialize wheat that then was its main product for exportation. |
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COMPANY NAME |
COUNTRY |
TAX REG. |
RELATION % |
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BUNGE
& BORN COMERCIAL S.A. |
URUGUAY |
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Related |
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BUNGE
& BORN S.A. |
URUGUAY |
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Related |
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BUNGE
& BORN URUGUAYA S.A. |
URUGUAY |
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Related |
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BUNGE
ALIMENTOS SA |
BRAZIL |
(AC)
84046101/000193 |
Related |
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BUNGE
INTERNATIONAL LTD |
BERMUDA |
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Related |
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BUNGE
URUGUAY AGRONEGOCIOS S.A. |
URUGUAY |
(AC)
215984110012 |
Related |
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BUNGE
URUGUAY S.A. |
URUGUAY |
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Related |
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CENTENERA
FABRICA SUDAMERICANA ENVASES S.A.I.C. |
URUGUAY |
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Related |
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CENTENERA
S.A. |
URUGUAY |
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Related |
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COMPAÑIA
DE ENVASES S.A. |
URUGUAY |
(AC)
210003320014 |
Related |
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COMPAÑIA
QUIMICA S.A. |
URUGUAY |
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Related |
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CONSULTORIA
INDUSTRIAL COMERCIAL ADMINISTRATIVA S.A. |
URUGUAY |
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Related |
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CPS
COLOR EQUIPMENT S.A. |
URUGUAY |
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Related |
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DELFOS
S.A. |
URUGUAY |
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Related |
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GRAFA
S.A. |
URUGUAY |
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Related |
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MACEL
S.A. |
URUGUAY |
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Related |
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MANRIVER
S.A. |
URUGUAY |
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Related |
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MOLINOS
RIO DE LA PLATA S.A. |
URUGUAY |
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Related |
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MOLINOS
URUGUAY S.A. |
URUGUAY |
(AC)
212269470014 |
Related |
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ORMEL
S.A. |
ECUADOR |
0991125809001 |
Related |
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PROCEDA
S.A. |
URUGUAY |
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Related |
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QUIMUR
S.A. |
URUGUAY |
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Related |
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SULFACID
S.A. |
URUGUAY |
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Related |
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SIC Classification |
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Main activity |
Subject is engaged in import and trading of agricultural products, such as bean, soybean flour & corn.It is also engaged in import and trading of corn and soybean oil. |
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OPERATIONS |
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Import |
Yes |
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Country |
Argentina, USA, Zona Franca de Montevideo.
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ANNUAL Imports In US$ (CIF) |
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% FOREIGN PURCHASES |
100% |
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EMPLOYEES |
22 |
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LOCATION PREMISES Rented OTHER PREMISES Subject's registered office and administrativec offices are located on the above-mentioned address.These facilities are shared with the company Bunge Uruguay S.A.Commercial Office: Continuación Echevarriarza 3535(B) Ofi. 305 Complejo "Torres del Puerto" torre B. Montevideo, Uruguay. Telephones: +598.2.628.4775 - 623.1460The company has a reception and dispatch warehouse for solid fertilizers (Deposito Miryn S.A.), with a storage capacity of 150,000 tons, and in Fray Bentos it has a tank warehouse for storing liquid fertilizers with a capacity of 4,500 tons.Address of Myrin warehouse: Camino Duran 4200 - Montevideo .Address of Fray Bentos warehouse: Terminación Dr. Andrés Montano S/N - Fray Bentos .Storage capacity of 4,500 tons.Outsourced warehouses.
PREVIOUS ADDRESS Luis Bonavita 1294 Piso 23 Word Trade
Center Resource. |
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Comments |
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Performs cash sales and credit with facilities of 30 days.The Tax General Directorate reported that subject holds its Valid Annual Certificate (Date of issue: 11/12/2013, Date of expiry: 30/11/2014).Type of Taxpayer: NOCEDE.Customer: Italcol De Occidente Ltda. |
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FINANCIAL INFORMATION |
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Disposition |
Declined. Needed to know the requestor's
name. |
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Interviewee(s) |
Pablo Gallandat |
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Position(s) |
General Accountant |
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Information provided |
Despite our insistence flatly denied any information by company policy, much less if the interested is not identified in getting the company profile. Only clarified that the company is subsidiary of BUNTE LIMITED, absolutely refusing further details. We have attempted to obtain information through the staff of the various areas of the company, but all showed a tight attitude claiming that they do not have permission. Therefore, this report has been prepared based on another reliable sources, our own and files, means through which it was not feasible to get balances or reference numbers. |
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SALES |
US$ 0.00 () |
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FINANCIAL SITUATION |
FAIRWe do not have financial statements that enable accurate analysis of its results , however, given their experience in the market and the absence of negative history we can indicate that the company is operating normally, also has the backing of its parent company Bunge Limited, a global business firm with operations in North America, South America, Europe, Asia and Oceania, and has commercial, logistics and distribution capabilities throughout the world. |
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Main fixed assets of the company (general detail) |
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It was not obtained any information on insurances. |
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(Confidential
Information)