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Report Date : |
03.01.2014 |
IDENTIFICATION DETAILS
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Name : |
WALWORTH INDUSTRIAL DE VALVULAS S.A. DE C.V. |
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Registered Office : |
De la Industria Lote 16, Col. Fraccionamiento Industrial El Trébol, Postal Code 54600, Tepotzotlán |
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Country : |
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Date of Incorporation : |
14.09.1976 |
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Legal Form : |
Stock Company of Variable Capital |
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Line of Business : |
Manufacturer of valves and equipment for
the oil, mining, power generation and nuclear energy industries |
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No. of Employees : |
500 |
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 – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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Mexico |
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 |
Mexico ECONOMIC OVERVIEW
Mexico has a
free market economy in the trillion dollar class. It contains a mixture of
modern and outmoded industry and agriculture, increasingly dominated by the
private sector. Recent administrations have expanded competition in seaports,
railroads, telecommunications, electricity generation, natural gas
distribution, and airports. Per capita income is roughly one-third that of the
US; income distribution remains highly unequal. Since the implementation of the
North American Free Trade Agreement (NAFTA) in 1994, Mexico's share of US
imports has increased from 7% to 12%, and its share of Canadian imports has
doubled to 5.5%. Mexico has free trade agreements with over 50 countries
including Guatemala, Honduras, El Salvador, the European Free Trade Area, and
Japan - putting more than 90% of trade under free trade agreements. In 2012
Mexico formally joined the Trans-Pacific Partnership negotiations and in July
it formed the Pacific Alliance with Peru, Colombia and Chile. In 2007, during
its first year in office, the Felipe CALDERON administration was able to garner
support from the opposition to successfully pass pension and fiscal reforms.
The administration passed an energy reform measure in 2008 and another fiscal
reform in 2009. Mexico's GDP plunged 6.2% in 2009 as world demand for exports
dropped, asset prices tumbled, and remittances and investment declined. GDP
posted positive growth of 5.6% in 2010 with exports - particularly to the
United States - leading the way. Growth slowed to 3.9% in 2011 and slightly
recovered to 4% in 2012. In November 2012, Mexico's legislature passed a
comprehensive labor reform which was signed into law by former President Felipe
CALDERON. Mexico's new PRI government, led by President Enrique PENA NIETO, has
said it will prioritize structural economic reforms and competitiveness. The
new president signed the Pact for Mexico, an agreement that lists 95 priority
commitments, along with the leaders of the country's three main political
parties: the Institutional Revolutionary Party (PRI), the National Action Party
(PAN) and the Party of the Democratic Revolution (PRD).
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Source : CIA |
IDENTIFICATION
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CORRECT COMPANY NAME |
WALWORTH
INDUSTRIAL DE VALVULAS S.A. DE C.V. |
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TRADE NAME |
WALWORTH
INDUSTRIAL DE VÁLVULAS |
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TAXPAYER REGISTRATION |
RFC IVA760914GV5 |
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MAIN ADDRESS |
De la Industria Lote 16, Col.
Fraccionamiento Industrial El Trébol |
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POSTAL CODE |
54600 |
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DEPT/PROV/REGION/STATE |
Tepotzotlán / México |
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COUNTRY |
MEXICO |
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TELEPHONE |
(5255) 58991700 - 50991737 |
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CORPORATE E-MAIL |
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WEB |
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COMMENTS |
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This report was ordered as WALWORTH
INDUSTRIAL. Be advised the correct name is
WALWORTH INDUSTRIAL S.A. DE C.V. Notice the complete and correct address is
as above written. |
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Date of foundation |
1976 |
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permanent employees |
500 |
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Chief Executive |
WAISBURD GRINBERG, SALOMÓN |
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Disposition |
REPORT PREPARED FROM OUTSIDE SOURCES. |
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Payments policy |
Without rating (No payment experience
traced) |
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Number of times that this company was
required: 1 |
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LEGAL STATUS |
Stock Company of Variable Capital |
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DATE OF INCORPORATION |
14SEP1976 |
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PLACE OF REGISTRY |
Tepotzotlán, State of Mexico |
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NOTARY OFFICE |
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DURATION |
99 years |
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CURRENT EXCHANGE RATE (US$) |
Ps$.13.07 per USD.1.00 |
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- EXECUTIVES –
SHAREHOLDERS
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WAISBURD
GRINBERG, SALOMÓN |
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TITLE |
Director General |
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NATIONALITY |
Mexican |
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PROFESSION |
Mechanic Electric Engineer |
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BACKGROUND INFORMATION |
Graduated from Universidad Nacional Autónoma
de México. |
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WALWORTH INDUSTRIAL DE VÁLVULAS S.A. DE
C.V. was formed on September 14, 1976
in Tepotzotlán, State of Mexico, having not changed since then its legal
status. At present, it has facilities in Mexico and
United States to produce the lines of valves; apart from facilities in the
above countries, it has other distribution centers in Mexico, United States,
UAE, Indonesia, Colombia, Thailand, among other. Walworth is able to satisfy
the markets of North, Central and South America, Europe, Africa, Middle East
and Asia. The Company is a subsidiary of the Walworth Group. |
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SIC
Classification |
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Main activity |
Manufacture of valves and equipment for
the oil, mining, power generation and nuclear energy industries Main Products: - Cast steel valves - Steel-lubricated plug valves - Pressure seal valves - Safety and relief steel valves - Forged steel valves - Trunnion ball valves - Check-type valves - Slab-gate valves - Iron valves - Expansion gate valves - Butterfly AWWA valves - Floating ball valves - Safety and relief bronze valves - Gunmetal valves |
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O P E R A T I O N S |
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Import |
Yes |
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Country |
United States; direct credit at 15 days |
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Export |
Yes |
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COUNTRY |
Israel and Colombia |
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% CASH SALES / METHOD |
20% |
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% Credit SALES / Terms |
80% at 15 - 60 days |
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% Ventas exterior (Paises) |
30% - Colombia |
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% DOMESTIC PURCHASES |
50% |
% FOREIGN PURCHASES |
50% |
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SELLING TerritorY |
Mexican market - 70% |
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EMPLOYEES |
500 |
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Comments |
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The Company mainly serves: - Sector of oil and gas exploration and
production activities. - Sector of oil and gas refining and
distribution activities - Maritime sector (vessels for liquid gas,
natural gas or oil conveyance; tankers for chemical or petroleum products) - Energy sector and chemical and
petrochemical industries - Hydroelectric, water treatment and
wastewater sectors - Nuclear, geothermal and cryogenic energy
sectors Main Clients include: - COMISIÓN FEDERAL DE ELECTRICIDAD - COPEC PRIMERA EN SERVICIO - INGENIEROS CIVILES ASOCIADOS (ICA) - PETRÓLEOS MEXICANOS - CONOCO PHILLIPS - DUBAI PETROLEUM - ECO PETROL - KBR - CHEVRAN - PETROCANADA - PETROJET - PETROBRAS CERTIFICATIONS: - ISO-9001:2000 by the American Petroleum
Institute since April 1999. -CFE Reliable Supplier by Comisión Federal
de Electricidad in accordance with ISO -9001 pf Quality Assurance - CFE Reliable Supplier by Petróleos
Mexicanos in accordance with the Standard NMX-9001-2000; ISO-9001-2000. -Certificate of Low Fugitive Emissions No.
20985-3, 8 and 16 ISO-15848. -Certificate of Ta Luft Approval (Fugitive Emissions) ISO-5211. |
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Disposition |
REPORT PREPARED FROM OUTSIDE SOURCES. |
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Information provided |
No information could be obtained from the
Company. We were not able to contact someone. We called insistently to the phone numbers
but only the answering machine responded. Hence, all the information in this report
has been collected from third-party sources where no balance sheets or
estimated accounting figures were available. |
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SALES |
US$ 0.00 () |
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FINANCIAL SITUATION |
NN: UNDETERMINED As no accounting elements were available,
it is not possible to get a clearer vision of the financial potential of this
Company. Financial standing is deemed to be indeterminate. Found no trade references either to determine
its payment record. |
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Property of company comments |
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They include: - Office furniture and fixtures - Computers - Vehicles - Machinery and equipment |
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TRADE REFERENCES, CREDIT BUREAU, LAWSUITS, BANKS (Confidential Information) |
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TRADE REFERENCES |
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Note : Other
suppliers did not provide information or could not be consulted |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.90 |
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UK Pound |
1 |
Rs.102.74 |
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Euro |
1 |
Rs.85.16 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
-- |
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.