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Report Date : |
05.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
NOVAMETAL SA |
|
|
|
|
Registered Office : |
Via Prati
Maggi, 6862 Rancate/TI |
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|
|
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Country : |
Switzerland |
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Year of Establishments : |
1982 |
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|
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Com. Reg. No.: |
501.3.015.728-0 / 1023612 |
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|
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Legal Form : |
Company limited by shares |
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Line of Business : |
·
manufacturer
of stainless steel as well as high Alloy Wire of Aluminium & Nickel · manufacturer of BS 300 Spools Copper Coated or Plastic Coated ·
Engaged
in Cold drawing of wire ·
Engaged
in Cold rolling of Narrow Strip |
|
|
|
|
No of Employees : |
200 (Estimated) |
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 |
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|
|
|
Payment Behaviour : |
No Complaints |
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|
|
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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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Switzerland |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
switzerland ECONOMIC OVERVIEW
Switzerland is a peaceful, prosperous, and modern
market economy with low unemployment, a highly skilled labor force, and a per
capita GDP among the highest in the world. Switzerland's economy benefits from
a highly developed service sector, led by financial services, and a
manufacturing industry that specializes in high-technology, knowledge-based
production. Its economic and political stability, transparent legal system,
exceptional infrastructure, efficient capital markets, and low corporate tax
rates also make Switzerland one of the world's most competitive economies. The
Swiss have brought their economic practices largely into conformity with the
EU's to enhance their international competitiveness, but some trade
protectionism remains, particularly for its small agricultural sector. The fate
of the Swiss economy is tightly linked to that of its neighbors in the euro
zone, which purchases half of all Swiss exports. The global financial crisis of
2008 and resulting economic downturn in 2009 stalled export demand and put
Switzerland in a recession. The Swiss National Bank (SNB) during this period
effectively implemented a zero-interest rate policy to boost the economy as
well as prevent appreciation of the franc, and Switzerland's economy began to
recover in 2010. The sovereign debt crises currently unfolding in neighboring
euro-zone countries pose a significant risk to Switzerland's financial
stability and are driving up demand for the Swiss franc by investors seeking a
safe-haven currency. The independent SNB has upheld its zero-interest rate
policy and conducted major market interventions to prevent further appreciation
of the Swiss franc, but parliamentarians have urged it to do more to weaken the
currency. The franc's strength has made Swiss exports less competitive and
weakened the country's growth outlook; GDP growth fell below 2% per year during
2011-13. Switzerland has also come under increasing pressure from individual
neighboring countries, the EU, the US, and international institutions to reform
its banking secrecy laws. Consequently, the government agreed to conform to
OECD regulations on administrative assistance in tax matters, including tax
evasion. The government has renegotiated its double taxation agreements with
numerous countries, including the US, to incorporate the OECD standard, and is
considering the possibility of imposing taxes on bank deposits held by
foreigners. These steps will have a lasting impact on Switzerland's long
history of bank secrecy.
|
Source
: CIA |
Novametal SA
Via Prati
Maggi
6862
Rancate/TI
Switzerland/CH
Telephone: 091
6408383
091
6408321
Fax: 091
6408305
Web site: http://www.novametal.com
E-mail: info@novametal.com
VAT-No.: CHE456234440
Established: 1982
Line of Business: Metal/steel
Industry Division: Manufacturing
Industry-code (NACE): 2434 Cold drawing of
wire
2432 Cold rolling of narrow strip
2433 Cold forming or folding
Import/Export: Import
Quality certification: ISO 9001:2000
Banks: CS
Credit Suisse
Coverage: Company
Figures: estimated
Employees: 200
Sales: CHF
40-60 Mio
·
The
business activities includes the manufacture of stainless steel as well as high Alloy Wire of Aluminium & Nickel
·
manufacturer
of BS 300 spools copper coated or plastic coated.
The Groups products
are distributed worldwide.
The Group has 6 production
units worldwide in Switzerland (2), Brazil, France, Mexico and South Africa.
Real Estate: It is understood that the
company owns certain property.
Company No: 501.3.015.728-0
/ 1023612
Legal form: Company
limited by shares
Registration: 17.06.2011
Legal status: active
Responsible Register: Registro di commercio del Cantone Ticino
History: Date
of Incorporation Statutes: 16.06.2011
Entry Deleted Name
17.06.2011 Novametal
SA
Entry Deleted Legal domicile
17.06.2011 Mendrisio,
Switzerland
Entry Deleted Address
17.06.2011 Via
Prati Maggi, 6862 Rancate/TI, Switzerland/CH
Entry Deleted Capital
17.06.2011 Share
Capital CHF 6,000,000, paidup CHF 6,000,000
Entry Deleted Capital Structure
17.06.2011 6,000
Registered shares of CHF 1,000.--
Title Name
President Giuseppe
Marzorati, Origin: Novazzano, Switzerland, Residential address: 6852 Novazzano,
Switzerland, single signature, Registered since: 17.06.2011
Director Angelo
Jelmini, Origin: Tenero-Contra, Switzerland, Residential address: 6963
Pregassona, Switzerland, single signature, Registered since: 17.06.2011
Director Roberto
Marzorati, Origin: Novazzano, Switzerland, Residential address: 6852 Novazzano,
Switzerland, single signature, Registered since: 17.06.2011
Director Lucio
Rusca, Origin: Locarno, Switzerland, Residential address: 6990 Agno,
Switzerland, single signature, Registered since: 17.06.2011
Director Franco
Spinelli, Origin: Savosa, Switzerland, Residential address: 6823 Lugano,
Switzerland, single signature, Registered since: 17.06.2011
Title Name
General Director Eugenio
Marzorati, Origin: Novazzano, Switzerland, Residential address: 6816 Bissone,
Switzerland, single signature, Registered since: 17.06.2011
Director Andrea
Scatola, Origin: Italy, Residential address: 6816 Bissone, Switzerland, single
signature, Registered since: 17.06.2011
Member with procuration Pierluigi Feltre, Origin: Italy, Residential address:
Como , Italy, joint power of attorney of two, with a Director, Registered
since: 17.06.2011
Title Name
Auditor Ernst
& Young AG, Residential address: Lugano, Switzerland, Id:
CH-514.9.016.936-1, Registered since: 17.06.2011
Name: Novametal
Holding SA
City/Country: Rancate/TI,
Switzerland/CH
No. of Owner/-s: 1
Owner: The
company is domestic owned.
Class: 100%
Type: direct,
Group-Level 1
Name: Novametal
Holding SA
City/Country: Rancate/TI,
Switzerland/CH
Interest: 100,00%
voting right, 100,00% capital interest (since 17.06.2011)
Name: Ferriere
di Stabio SA
City/Country: Stabio/TI,
Switzerland/CH
Name: Novametal
do Brasil Ltda
City/Country: Pindamonhagaba/Sao
Paulo, Brazil/BR
Name: Stainless
Bars SA
City/Country: Rancate/TI,
Switzerland/CH
Name: TDV
City/Country: Plombieres
les Bains/Epinal, France/FR
Name: TECHWIRE
INTERNATIONAL LIMITED
City/Country: Lichfield/Staffordshire,
United Kingdom/GB
Name: Trefilados
Inoxidables de México, S.A. de C.V.
City/Country: Humantia/Tlaxcata,
Mexico/MX
Name: Wire
Products Stainless Steel Pty Ltd
City/Country: Germiston,
South Africa/ZA
It is believed that the company has no
investments.
An updated legal action check is only
available against proof of interest. e.g. a copy of an enquiry letter, and
order or invoice relating to the subject company.
Financial
Statements: The company does not
disclose any financial statements. Third parties are not permitted
any
insight into the financial affairs. It is therefore difficult to make a proper
assessment
of the
actual situation.
Financial Situation: The financial situation is considered to be in order.
Payment experiences: There are no objections regarding the payment of financial
obligations.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.79 |
|
UK Pound |
1 |
Rs.102.66 |
|
Euro |
1 |
Rs.81.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MNL |
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.