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Report Date : |
07.01.2014 |
IDENTIFICATION DETAILS
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Name : |
MCCORDICK GLOVE & SAFETY INC. |
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Registered Office : |
400 Jamieson Parkway, Cambridge, Ontario N3C 4N3 |
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Country : |
Canada |
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Date of Incorporation : |
24.11.1983 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Distributor of safety equipments like fire extinguishers, protective clothing, cans and cabinets, eye protection products, and flashlights. |
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No. of Employees : |
75 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Canada |
A1 |
A1 |
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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 |
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: MCCORDICK GLOVE & SAFETY INC.
Address: 400 Jamieson Parkway, Cambridge, Ontario N3C 4N3 - Canada
Telephone: +1 519-651-2233
Fax: +1 519-651-0508
Website: www.mccordick.com
Corporate ID#: ON-001886596
State: Ontario
Judicial form: Corporation – Profit
Date incorporated: 12-12-2012
Date founded: 11-24-1983
Stock: -
Value: -
Name of
manager: John J. HUCK
History:
MCCORDICK GLOVE & SAFETY INC. was formed as a Federal Corporation on
11-24-1983, and converted to an Ontario Corporation on December 7, 2012.
Business:
Mccordick Glove & Safety, Inc. is a distributor of safety equipments like fire extinguishers, protective clothing, cans and cabinets, eye protection products, and flashlights.
The company is based in Cambridge, Canada.
As of December 14, 2012, Mccordick Glove & Safety, Inc. operates as a subsidiary of Bunzl plc.
Office of the Foreign Assets Control (OFAC):
The company is not listed on the OFAC list.
The Specially Designated Nationals (SDN) List is a publication of OFAC which lists individuals and organizations with whom United States citizens and permanent residents are prohibited from doing business.
Brands: 3M – ANSELL – MSA – TERRA – PELTOR…
Staff: 75
Operations
& branches:
At the
headquarters, we find a factory, warehouse and office, owned.
The Company
maintains 4 branches located:
195 Turbo Drive, Sherwood
Park, AB T8H 2J6
PH: (780) 466-9660
FAX: (780) 468-5886
130-18233
Blundell Road, Richmond, BC V6W 1L8
PH: (604) 543-0307
130 Midland Street, Unit
8 Winnipeg, MB R3E 3R3
PH: (204) 772-2495
FAX: (204) 775-2650
1380 Joliot Curie, Condo 804
Boucherville, QC J4B 7L9
PH: (450) 449-5835
FAX: (450) 449-5839
Shareholders:
BUNZL PLC
York House, 45 Seymour Street
London W1H 7JT – UK
(Public Company)
Management:
John J. HUCK is the President, Director and CEO
David HUCK is Director and Secretary.
As far as we know, they are not involved in other local corporations.
Subsidiaries
And partnership: None
In Canada,
privately held corporations are not required to publish any financials.
On a direct
call, a financial assistant controlled the present report.
Sales
declared for year 2012 is in the range of CAD 52,000,000=
The
business is said to be profitable.
Banks: Scotia Bank
HSBC Bank
…
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: Several
Haut du formulaire
Trade
references:
Date
reported: November 2013
High
credit: CAD 15,000
Now owing: 0
Past due: 0
Last purchase:
October 2013
Line of
business: Office supply
Paying
status: On terms
Date
reported: November 2013
High
credit: CAD 100,000
Now owing: 0
Past due: 0
Last
purchase: October 2013
Line of
business: Payroll
Paying
status: As agreed
Date reported: November 2013
High
credit: USD 1,500
Now owing: 0
Past due: 0
Last
purchase: October 2013
Line of
business: Telecommunications
Paying
status: On terms
Domestic
credit history:
National
Credit Bureaus gave a satisfying credit rating.
According to our credit analysts, during the last 6 months, domestic payments were made on due date.
International credit history:
Payments of imports are currently made on terms.
Other
comments:
The Company
maintains a strong 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 06-14-2013.
The risk is
low.
Our
opinion:
A business
connection may be conducted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.33 |
|
|
1 |
Rs.101.99 |
|
Euro |
1 |
Rs.84.62 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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 |
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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 |
|
<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.