|
Report Date : |
14.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
INMOBAL NUTRER S.A. |
|
|
|
|
Registered Office : |
Dr. Roberto Uncal Nº 673 (E32601MB), Concepción del Uruguay, Entre Ríos Province, Argentine |
|
|
|
|
Country : |
Argentina |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
03.02.1977 |
|
|
|
|
Legal Form : |
Public Limited Company |
|
|
|
|
Line of Business : |
subject is engaged in the industrialization of synthetical
organic chemical products, used for nutrition and animal health. |
|
|
|
|
No. of Employees : |
250 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Argentina |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
argentina ECONOMIC OVERVIEW
Argentina
benefits from rich natural resources, a highly literate population, an
export-oriented agricultural sector, and a diversified industrial base. Although
one of the world's wealthiest countries 100 years ago, Argentina suffered
during most of the 20th century from recurring economic crises, persistent
fiscal and current account deficits, high inflation, mounting external debt,
and capital flight. A severe depression, growing public and external
indebtedness, and an unprecedented bank run culminated in 2001 in the most
serious economic, social, and political crisis in the country's turbulent
history. Interim President Adolfo RODRIGUEZ SAA declared a default - at the
time the largest ever - on the government's foreign debt in December of that
year, and abruptly resigned only a few days after taking office. His successor,
Eduardo DUHALDE, announced an end to the peso's decade-long 1-to-1 peg to the
US dollar in early 2002. The economy bottomed out that year, with real GDP 18%
smaller than in 1998 and almost 60% of Argentines under the poverty line. Real
GDP rebounded to grow by an average 8.5% annually over the subsequent six
years, taking advantage of previously idled industrial capacity and labor, an
audacious debt restructuring and reduced debt burden, excellent international
financial conditions, and expansionary monetary and fiscal policies. Inflation
also increased, however, during the administration of President Nestor
KIRCHNER, which responded with price restraints on businesses, as well as
export taxes and restraints, and beginning in 2007, with understating inflation
data. Cristina FERNANDEZ DE KIRCHNER succeeded her husband as President in late
2007, and the rapid economic growth of previous years began to slow sharply the
following year as government policies held back exports and the world economy
fell into recession. The economy in 2010 rebounded strongly from the 2009
recession, but has slowed since late 2011 even as the government continued to
rely on expansionary fiscal and monetary policies, which have kept inflation in
the double digits. The government expanded state intervention in the economy
throughout 2012. In May the Congress approved the nationalization of the oil
company YPF from Spain's Repsol. The government expanded formal and informal
measures to restrict imports during the year, including a requirement for
pre-registration and pre-approval of all imports. In July the government also
further tightened currency controls in an effort to bolster foreign reserves
and stem capital flight.
|
Source : CIA |
INMOBAL NUTRER
S.A.
IN SHORT TIME BEGIN TO BE CALLED AS:
QUIMTIA ARGENTINA S.A.
C.U.I.T. No.: 30-58052893-3
BEGINNER OF
ACTIVITIES. INCORPOARTED IN 1977. NO PROVIDED FINANCIAL INFORMATION. NO
NEGATIVE ANTECEDENTS. FIT FOR NEW CREDITS PROCEED WITH THE RESERVES IN THESE
CASES.
ORGANIC CHEMICAL
PRODUCTS
MANUFACTURE
IMPORT
COMMERCIALIZATION
Business type:
Public Limited
Company
Incorporated: 03/02/1977
Registered: 09/06/1977
- Nº 1803, Book 86, Volume A
Duration: Until
09/06/2076
End of fiscal year: December 31st
Mss. Laura
Danishewsky
Administration, sales and industrial plant: Dr.Roberto Uncal Nº 673 (E32601MB),
Concepción del Uruguay, Entre Ríos Province, Argentine Republic.
Phone: (54-03442) 441000
Fax: (54-03442) 441001
E-mail: laura.danishewsky@quimtia.com
President:
MARCEILLAC
LARREA OSCAR RAIMUNDO
Director: COLLARD BOVY DIEGO
Director: CROUZEL ROBERTO HORACIO
Director: IBARZABAL PEREZ DANIEL
Director: RODRIGUEZ ASEIJAS FRANCISCO
Alternate Director: SEEBER
RICARDO VICENTE
The first mentioned one, as Managers, are in charge of the management and
administration of the company, with the use of the social signature.
Subscribed and
paid-in capital: $ 14.400.000 represented by same amount of common shares,
nominative, nonendorsable, par value $ 1,00 each with right to vote per share.
According to our registered
information, by the 70's it was organized the company PRODUCTOS QUIMICOS
INMOBAL with the objective of performing the mentioned activities without
major variables until early 1977.
This company operated until early 1977, year in which the interested parts
agreed in changing its name to INMOBAL S.A. becoming follower of activities
until 2.9.1996.
It operated without changes until 02/09/1996, date in which it acquired by a
statutory merger to NUTRER S.A., which used to operate in Dr.Roberto Uncal
No.673, Concepción del Uruguay, Entre Ríos Province, being registered on
27/09/1994, Folder 1618.
On 01/07/1997 it started using the current name.
One of the first achievements reached by the company was the sole distribution
for Argentina of the products from CULTOR FOOD SCIENCE.
By mid-2000 THE TOWER FUNDA L.P. (TTF) carried out an important investment.
This company is integrated by a group of investors led by HSBC S.A.DE
INVERSIONES and CORPORACION FINANCIERA INTERNACIONAL (CFI).
Fits to highlight that on 02/07/2001 it acquired by a statutory merger to
COSMOQUIMICA S.A., which was dissolved without being liquidated.
Finally and before passing to other considerations, fits to indicate that it
was negotiated in the Extraordinary General Assembly celebrated the 28/08/2006
the merge by fusion of the company INMOBAL NUTRER S. R. L. that since its
incorporation occurred in 1997, operated with legal headquarters in Rivadavia
1367, 6o." A" of the City of Buenos Aires.
It manages Art.1o modification. of its Statutes, which includes the name under
which it will operate coming soon: QUIMTIA ARGENTINA S.A.
Under this name there is no operation for even the corresponding amendment has
not been registered with the Public Registry of Commerce.
Recent amendments to company bylaws holder:
--------------------------------------------------------------------------------------------
Fecha: 31/08/2011
INMOBAL NUTRER SA Por disposición del Sr. Director de la Dirección de
Inspección de Personas Jurídicas, Dr. José Carlos Luján, se ha dispuesto la
publicación por un día en el Boletín Oficial del presente edicto. Razón social:
INMOBAL NUTRER SA , legajo Nº 1638, Sociedades Comerciales del Dpto. Uruguay,
acta Nº 310, distribución de cargos, C. del Uruguay (ER), 23 de abril de 2010.
Los directores electos en la asamblea general ordinaria celebrada en el local
social sito en calle Roberto Uncal Nº 673, con la presencia el síndico titular,
realizaron la distribución de cargos entre los mismos, resolviendo por
unanimidad por el directorio, con mandato por dos (2) ejercicios, quede
conformado de la siguiente manera: Presidente OSCAR RAYMUNDO JOAQUIN MARCEILLAC
LARREA ; directores titulares: DIEGO COLLARD BOVY , ROBERTO HORACIO CROUZEL ,
DANIEL IBARZABAL PEREZ , FRANCISCO MANUEL RODRIGUEZ ASEIJAS ; director suplente
RICARDO VICENTE SEEBER . Registro Público de Comercio - DIPJ - Paraná, 23 de
agosto de 2011 - José L. Nani, abogado DIPJ. F.C.S. 00076797 1 v./31.8.11
Fuente: Boletín Oficial Pcia. Entre Rios - Nro: 24814 del 31/08/11
Fecha: 13/04/2009
INMOBAL NUTRER SA Por resolución del Sr. Director de la Dirección de Inspección
de Personas Jurídicas, Dr. José Carlos Luján, se ha dispuesto publicar por un
día en el Boletín Oficial, el siguiente edicto: INMOBAL NUTRER SA, comunica que
por asamblea general ordinaria de fecha 10 de julio de 2008 y reunión de
directorio de la misma fecha, se ha designado como miembros del directorio por
el término de dos años, presidente CARLOS JOSE DEBOWICZ ; vicepresidente
ISIDORO WELEDNIGER ; directores titulares: OSCAR RAYMUNDO JOAQUIN MARCEILLAC
LARREA , GUILLERMO MANUEL RICARDO ALVAREZ PERATA y CARLOS EMILIO SCOT ;
directores suplentes MAURICIO SZULMAN , JORGE EDUARDO SCHAVARTZMAN y MANUEL
DANIEL GAMA . Registro Público de Comercio - DIPJ - Paraná, 9 de marzo de 2009
- Martha G. Rivas de Alarcón, Escribana Registro Público de Comercio DIPJ.
-F.C.S. 00056127 1 v./13.4.09
Fuente: Boletin Oficial Pcia. Entre Ríos - Nro: 24241 del 13/04/09
BALANCE SHEET
31.12.2010 (LAST KNOWN) OBTAINED OF THIRD PARTIES.
ASSETS: 2008
2009 2010
------ ----
---- ----
Disp.,Inv.,Créd 83.177.436 98.759.191 130.518.764
Inventories 72.392.041 62.940.768 69.455.093
-----------
----------- -----------
Total current
155.569.477 161.699.959 199.973.857
Total non-current 8.985.195 10.168.316 9.205.156
-----------
----------- -----------
TOTAL ASSETS 164.554.672 171.868.275 209.179.013
=========== ===========
===========
LIABILITIES:
------------
Debts 68.169.331 65.414.433
102.857.196
Rem.& carg.soc. 4.835.385 6.623.172 5.937.073
-----------
----------- -----------
Total current 73.004.716 72.037.605 108.794.269
Total non-current 538.701 3.800
3.800
-----------
----------- -----------
Total liabilities 73.543.417 72.041.405 108.798.069
-----------
----------- -----------
Net worth 91.011.255 99.826.870 100.380.944
----------- -----------
-----------
GENERAL TOTAL 164.554.672 171.868.275 209.179.013
=========== ===========
===========
INCOME STATEMENT:
-----------------
NET SALES 404.674.209 419.588.118 491.258.224
COST OF SALES -291.053.480-318.961.335-385.614.425
----------- -----------
-----------
GROSS PROFIT 113.620.729 100.626.783 105.643.799
----------- -----------
-----------
Expenses comerc. - 30.235.724- 37.061.329- 39.448.214
Expenses adminis. - 18.954.342- 20.832.365- 22.250.888
----------- -----------
-----------
Sub-Total 64.430.663 42.733.089
43.944.697
Others income/egres.- 26.106.047 14.755.167- 15.421.241
----------- -----------
-----------
FINAL RESULT 38.324.616 27.977.922 28.523.456
=========== ===========
===========
Based on the figures presented, it is noted that at the end of last year then
practiced the owner had been touring with providing liquidity of 1.83 from 0.92
in turn own resources as to address each $ 1.00 of liabilities assumed on
behalf of third parties.
In terms of profitability for the year, indicates that it has been of 5.80% of
sales, which admits of reasonably acceptable to its importance in the sector.
Balance Sheet/s 31/12/2010 31/12/2009 31/12/2008
Total Assets $ 209.179.013,00 $ 171.868.275,00 $ 164.554.672,00
Current Assets $ 199.973.857,00 $ 161.699.959,00 $ 155.569.477,00
Banks $ 0,00 $ 0,00 $ 1.801.969,00
Accounts Receivables $ 0,00 $ 0,00 $ 79.685.292,00
Inventory $ 69.455.093,00 $ 62.940.768,00 $ 72.392.041,00
Fixed Assets $ 0,00 $ 0,00 $ 7.835.408,00
Non-Current Assets $ 9.205.156,00 $ 10.168.316,00 $ 8.985.195,00
Investments $ 0,00 $ 0,00 $ 0,00
Total Liabilities $ 108.798.069,00 $ 72.041.405,00 $ 73.543.417,00
Current Liabilities $ 108.794.269,00 $ 72.037.605,00 $ 73.004.717,00
Non-Current Liabilities $ 3.800,00 $ 3.800,00 $ 538.700,00
StockHolders Equity $ 100.380.944,00 $ 99.826.870,00 $ 91.011.255,00
Net Sales $ 491.258.224,00 $ 419.588.118,00 $ 404.674.209,00
Cost of Good Sold $ 385.614.425,00 $ 318.961.335,00 $ 291.053.480,00
Gross Result $ 105.643.799,00 $ 100.626.783,00 $ 113.620.729,00
Administrative Expenses $ 22.250.888,00 $ 20.832.365,00 $ 18.954.342,00
Selling Expenses $ 39.448.214,00 $ 37.061.329,00 $ 30.235.724,00
Financial Income $ 0,00 $ 0,00 $ 5.483.064,00
Other Expenses $ -15.421.241,00 $ -14.755.167,00 $ -20.622.983,00
Final Result $ 28.523.456,00 $ 27.977.922,00 $ 38.324.616,00
Indexes 31/12/2010 31/12/2009 31/12/2008
Current Ratio 183,81 % 224,47 % 213,10 %
Quick Ratio 119,97 % 137,09 % 113,93 %
Short Term Indebtedness 108,38 % 72,16 % 80,22 %
Debt to Equity Ratio 108,39 % 72,17 % 80,81 %
Long Term Assets to Total Assets 4,40 % 5,92 % 5,46 %
Fixed Assets to Equity 0,00 % 0,00 % 8,61 %
Total Assets to Total Liabilities 192,26 % 238,57 % 223,75 %
Debt Ratio 52,01 % 41,92 % 44,69 %
Equity Ratio 47,99 % 58,08 % 55,31 %
Investments to Assets Ratio 33,20 % 36,62 % 43,99 %
Current Investment 95,60 % 94,08 % 94,54 %
Stocks Aging Days 65,74 días 72,03 días 90,78 días
Day Sales 0,00 días 0,00 días 71,87 días
Trade Debtors To Assets 0,00 % 0,00 % 48,42 %
Total Assets Turnover 234,85 % 244,13 % 245,92 %
Net Worth Aging 489,39 % 420,32 % 444,64 %
Fixed Assets Aging Infinito % Infinito % 5.164,69 %
Gross Profit 78,50 % 76,02 % 71,92 %
Financial Expenses on Sales Ratio 0,00 % 0,00 % 1,35 %
Commercial Exp. on Sales Ratio 8,03 % 8,83 % 7,47 %
Administrative Exp. on Sales Ratio 4,53 % 4,96 % 4,68 %
REAL ESTATE:
---------------------
> Rivadavia 1367, 6o.piso, Ofic."A" y "B" (1033) de la
Ciudad de Buenos Aires.
> Dr.Roberto Uncal 673 (3260), Concepciòn del Uruguay, Pcia.de Entre Ríos.
> Parque Industrial - Planta Premix - Concepciòn del Uruguay, Pcia.de Entre
Ríos.
> Barraca "Los Merinos" situada en la Ciudad y Partido de
Avellaneda, Pcia.de Buenos Aires, con frente a la calle Florentino Ameghino
329/361/383/391 entre las de Chacabuco y Montes de Oca.
The company is
engaged in the industrialization of synthetical organic chemical products, used
for nutrition and animal health.
It has a first level automated plant on its area with modern technology and
techniques of control and management. It operates under international policies,
reason why it is one of the most modern establishment of Latin America.
It is considered as a leader in its sector.
On its establishment called "Planta Premix", it elaborates premixings
of Vitamins, Minerals and Nutritional Additives for animals (birds, pigs,
bovines and pets), as well as additives and products of veterinary use.
It has an important infrastructure and organization, where its directors
participate together with the necessary staff, among administrators,
technicians, etc.
MAIN SUPPLIERS:
===============
AJINOMOTO INTERAMERICANA LTDA.
Rua Joaquim Tavora 541 Vila Mariana
Sao Paulo.CEP 04015.001 Brasil
BASF A.G.
67056 Ludwigshafen, Alemania
BIESTERFELD SIEMSGLUSS GmbH
Ferdinandstrasse 41, 20095 Hamburg. Alemania
IND.ALCOSA S.A. DE C.V.
Autopista 45, Queteraro, Itapuato Km. 36
Paseo El Grande. Gto C.P. 38160 Mexico.
INDUSTRIAL KERN ESPAÑOLA S.A.
Lmonge@induquem.es
KK ANIMAL NUTRITION (PFY) LTD.
kk@feeds.kynoch.co.za
INDECAR S.A.
SOLVAY INDUPA S.A.
FOREIGN TRADE:
==============
In the last twelve months it has carried out imports for a total value of u$s.
58.102.035 from CHINE, BRAZIL, SPAIN and others countries.
TRADEMARKS:
-----------
FINOX INMOBAL NUTRER
NUTRELAC NUTREVIT
OSO POLAR POLARAGRO
POLARMEAT POLARMIX
POLARVIT SOLUPROT
* 250 EMPLOYEES.
Foreign trade and sales: Rivadavia 1369 (C1033AAD),
Buenos Aires City, Argentine Republic.
Phone: (54-011) 4370-0111
Fax: (54-011) 4370-0194
Distribution centre, sales and industrial plant: Chacabuco No.285 (BS870BPE),
Avellaneda, Buenos Aires Province, Argentine Republic.
Phone: (54-011) 4229-2900
Fax: (54-011) 4229.2905
ADVERTENCIA: Si en
este registro no apareciera un Nro. de Doc. o CUIT, debe tomarse como una
simple referencia a verificar en el expediente para descartar la existencia de
personas con igual apellido y nombre/s o empresas con igual razon social.
· 28/09/2005 - OFICIO LEY 22172
JUZG 20 SEC 40 - WACKER-CHEMIE GMBH
· 12/08/2005 - EJECUTIVO JUZG 01 SEC 02 -
TORRES, EDUARDO
BBVA BANCO FRANCES
HSBC BANK ARGENTINA
BANCO NACIONAL DE PARIS
BANCO SUPERVIELLE
BANCO DE GALICIA Y B.A.
BANCO SANTANDER RIO
CREDIT RISK:
------------
OCTOBER
2013
> BANCO FRANCES
29.523.900
> HSBC
14.088.000
> SANTANDER RIO
11.776.900
> GALICIA
8.100.200
> BANCO PATAGONIA
5.507.400
> AMERICAN EXPRESS
68.900
(1)
normal situation
INSURANCE:
---------
LA BUENOS AIRES NEW YORK LTDA.
INSTITUTO ASEGURADOR MERCANTIL
AGF ALLIANZ ARGENTINA
ASEGURADORA DE CREDITOS Y GARANTIAS S.A.
DETAILS OF JUDGMENT HAS BEGUN THE COMPANY against other firms and are still
pending:
Fecha Sorteo: 30/07/2009
CAPITAL FEDERAL, Juicio Ejecutivo , Juzg. 023, Sec. 046, Exp. Nro: 039043/09,
Causa Nro: 57186
Carátula:
CURTIDURIA A GAITA SRL
Actor/es: INMOBAL NUTRER SA
-- AMPLIACION de fecha: 18/08/09 --
Carátula: CURTIDURIA A GAITA SRL CUIT
30682842713 Dom. J. I. Rucci 1537, V. Alsina, Pcia Buenos Aires
Actor/es: INMOBAL NUTRER SA CUIT 30580528933 Dom. Rivadavia 1369, Capital
Federal
MONTO DEL JUICIO: $ 7675.03- .
Dom. Juzg.: Marcelo T. de Alvear 1840, piso 2, Buenos Aires - Juez: Julia
VILLANUEVA - Sec.: Dr. MARIÑO Esteban - FUERO: COMERCIAL
Fuente: Estudio CHOUHY /(MN RM 131009 - 039043 - 09)
-- AMPLIACION de fecha: 12/12/11 --
Observaciones: El expediente fue paralizado bajo el legajo 219/11 el
21/09/2011.
Fuente: Adolfo CHOUHY (abogado) /(YR YR 121211 - 039043 - 09)
Fecha Sorteo: 05/08/2011
CAPITAL FEDERAL, Juicio Ordinario , Juzg. 007, Sec. 013, Exp. Nro: 023726/11,
Causa Nro: 089036
Carátula:
ANILCHEM SRL
Actor/es: INMOBAL NUTRER SA
-- AMPLIACION de fecha: 22/09/11 --
Carátula: ANILCHEM SRL Dom. Mitre 4817, San Martín, Pcia Buenos Aires
Actor/es: INMOBAL NUTRER SA Dom. Rivadavia 1369, Capital Federal
Dom. Juzg.: Av. Roque S. Peña 1211, piso 2, Buenos Aires - Juez: Dra POLOTTO
Susana - Sec.: Dr. PESARESI Guillermo - FUERO: COMERCIAL
Fuente: Adolfo CHOUHY (abogado) /(IO RS 220911 - 023726 - 11)
It is commercially
related with local and foreign companies. Many of them give it their credit
support, not making up to now objections about its payment record.
* FULFILLMENT: WITHOUT OBJECTIONS
Bearing in mind
what has been exposed hereby, we consider feasible the new credit treatment
with this company with the adoption of appropriate guarantees.
* FIT FOR NEW CREDITS
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.27 |
|
UK Pound |
1 |
Rs.103.47 |
|
Euro |
1 |
Rs.84.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.