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Report Date : |
02.06.2014 |
IDENTIFICATION DETAILS
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Name : |
BASF MEXICANA S.A. DE C.V. |
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Registered Office : |
Insurgentes Sur 975, Col. Ciudad De Los Deportes, Delg. Benito Juárez, Postal Code 03710 |
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Country : |
Mexico |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
10.09.1981 |
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Legal Form : |
Stock Company of Variable Capital |
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Line of Business : |
Subject is a chemical company. Its portfolio ranges from
chemicals, plastics, performance products and products for crop protection to
oil and gas. |
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No. of Employees : |
more than 111,000
employees |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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 |
BASF MEXICANA
S.A. DE C.V. |
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TRADE NAME |
BASF MEXICANA |
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TAXPAYER REGISTRATION |
RFC BME8109104S6 |
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MAIN ADDRESS |
Insurgentes Sur 975, Col. Ciudad de los
Deportes, Delg. Benito Juárez |
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POSTAL CODE |
03710 |
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DEPT/PROV/REGION/STATE |
México DF |
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COUNTRY |
MEXICO |
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TELEPHONE |
(5255) 53252600 |
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CORPORATE E-MAIL |
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WEB |
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Fax: (55) 53252777 / 56116145Other e-mail: markus.fieseler@basf.com The report was requested under the trade name of BASF MEXICAN S.A. DE C.V.We made it clear that the correct name of the company is BASF MEXICANA S.A. DE C.V. |
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Date of foundation |
1981 |
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Capital stock |
Not specified |
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Shareholders' equity |
5,565,436.00 Thousands of Peso (31DEC2010)
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Chief Executive |
SCHWEENS, RALPH EMANUEL |
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Disposition |
TF: REPORT PREPARED FROM OUTSIDE SOURCES. |
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Payments policy |
Usually to terms / good |
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Number of times that this company was
required: 10 |
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LEGAL STATUS |
Stock Company of Variable Capital |
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DATE OF INCORPORATION |
10SEP1981 |
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PLACE OF REGISTRY |
Mexico DF |
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NOTARY OFFICE |
DURATION |
99 years |
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CURRENT PAID-IN CAPITAL |
Not specified |
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SHAREHOLDERS EQUITY |
5,565,436.00 Thousands of Peso
(31/12/2010) |
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CURRENT EXCHANGE RATE (US$) |
Ps$13.02 per 1.00 USADollar |
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MEMBERSHIP |
Chamber of the Industry of Transformation -
CANACINTRA. |
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COMMENTS |
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-BASF Mexicana S.A. de C.V., has been serving the market in the country for over 50 years. -The head office is located in Mexico City and has regional offices in Guadalajara, Monterrey, Merida and Tijuana. -In its manufacturing plants, applies the same rigorous quality control and ISO certified processes, which characterize the value added and high quality of its products worldwide. -BASF Mexicana S.A. de C.V., through its human resources department is working to build the best team to provide innovative solutions tailored to help its clients to have greater success. -Michael Stumpp, currently Senior Vice President, of business Global Home & Personal Care in the Business Division of Care Chemicals, will be the successor Ralph Schweens, holding the position of Director of BASF Mexicana and President of BASF Group in Mexico, Central America and the Caribbean based in Mexico city, effective from September 1, 2013 |
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FULL NAMES / COMPANY NAME |
TITLE |
%PART. |
SINCE |
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SCHWEENS, RALPH EMANUEL |
Director |
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FIESELER, MARKUS |
Finance Director |
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SCHWEENS, RALPH
EMANUEL |
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TITLE |
Director |
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NATIONALITY |
German |
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PROFESSION |
Economist |
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BACKGROUND INFORMATION |
Ralph Schweens, current Director of BASF Mexicana and President of BASF Group in Mexico, Central America and the Caribbean will serve as Chairman of the Regional Division South America based in Sao Paulo, Brazil, effective since 1 October 2013. He will replace the current leader of the region, Alfred Hackenberger, who will retire on September 30, 2013, after a career of over 30 years at BASF. |
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ASSOCIATED AS PER OUR DATABASE TO |
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BASF AKTIENGESELLSCHAFT |
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BUSINESS
BACKGROUND German Society controlling shares of companies linked to the chemical industry (these companies are engaged in the production, processing and sale of chemicals, technical-chemical and metallurgical of all kinds, especially plastics, raw materials for fibers, dyes and auxiliary dyes, nitrogen compounds, fertilizers, pesticides, and magnetographic recorded, among other activities). |
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-The first commercial relations of BASF in Mexico date back to the twentieth century. In 1890 leased a commercial establishment to conduct the marketing of the products of BASF. -After the Second World War, BASF builds its business in Mexico through the marketing companies. In 1964, however, with the acquisition of AISLANTES INDUSTRIALES, BASF also became active as a producer in the country. -The Mexican company, which changed its name to BASF Mexicana, produced and worked at that time the styrofoam facility in Santa Clara, Mexico City. -Shortly after the acquisition, it became evident that the expansion of production land did not offer enough space any more. -Consequently, BASF Mexicana acquired in 1966 a new site in Santa Clara (Santa Clara II). It is there, in 1968, when production of styrofoam begins at new facilities . However, exactly 10 years later, BASF sells its Mexican styrofoam operations to the company Polioles, S.A. de CV, a joint venture between BASF and the Mexican corporation ALFA. -From the beginning, BASF Mexicana has worked in the diversity of its products portfolio. Since 1967, the company produces process chemicals, and since 1968 paints and since 1970 dispersions. -With the acquisition of Pigmex (Cuautla), BASF Mexicana began operations in the field of inorganic pigments. -In cooperation with the German company Elastogran GmbH, a subsidiary of BASF also installed in the same year a Division of Polyurethanes in the company of BASF Mexicana. The first applications of Polyurethanes are mainly in the footwear industry also opened new opportunities for applications. -In 1994, BASF Mexicana transfers the polyurethane business to Polioles. -A new era in the history of the BASF Group in Mexico began in 1990 with the foundation stone for the construction of the new site in Altamira on the Gulf of Mexico. The new site became necessary for all subsidiaries of BASF in Mexico, as the expansion of new production sites in the area of Mexico City has not been possible. -The goal is for their site in Altamira, which first began operations in 1995, for long-term development as a strategic site at NAFTA -By general extraordinary meeting of shareholders of BASF Mexicana S.A. de C.V. and BASF Coatings de México S.A. de C.V., held on August 31, 2005, resolved to decide to merge such corporations, as a result of the merger, and BASF Coatings de México S.A. de C.V. disappear as merged company, to be incorporated into BASF Mexicana S.A. de C.V., which will remain as merged entity.-By general extraordinary meeting of shareholders of BASF Mexicana S.A. de C.V. and BASF Construction Chemicals México S.A. de C.V., both held on May 31, 2007, resolved to decide to merge such corporations, in consequence of the merger, BASF Construction Chemicals México S.A. de C.V., will disappear as merged company, to be incorporated into BASF Mexicana S.A. de C.V., which will remain as merged entity.-By general extraordinary meeting of shareholders of BASF Mexicana S.A. de C.V. and Cognis Mexicana S.A. de C.V., both held on March 10, 11, 2011, resolved to decide to merge such corporations, in consequence of the merger, Cognis Mexicana S.A. de C.V., will disappear as merged company, to be incorporated into BASF Mexicana S.A. de C.V., which will remain as merged entity.Related Companies: The Subject is a company member of "BASF Group" which is led by "BASF" leading chemical company in the world: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products and products for crop protection to oil and gas. Combine economic success, social responsibility and environmental protection. Group has production plants in 38 countries and customers in more than 170. Provides its nearly 8,000 products to a large number of different industries worldwide. Headquartered in Germany is located in Ludwigshafen, Germany. Through science and innovation, enable its customers in virtually all industries to meet the current and future needs of society. Its products and system solutions contribute to the conservation of resources, guarantee healthy food and nutrition and help improve the quality of life. Have integrated this contribution into their corporate objective: Create chemistry for a sustainable future. In 2011, BASF had sales of over ? 73.5 billion and towards the end of the year had more than 111,000 employees. BASF shares are traded on stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). The company is related to the following companies:-BASF Corporation (United States).-BASF Canada Inc. (Canada)-BASF de Costa Rica, S.A. (Costa Rica).-BASF de El Salvador, S.A. de C.V. (El Salvador).-BASF de Guatemala S.A. (Guatemala).-Etc. |
RELATED
COMPANIES TO SUBJECT COMPANY OR TO MAJORITY SHAREHOLDER
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Main activity |
ACTIVITY: BASF Mexicana S.A. de C.V., is dedicated to the development of customized solutions that add value to its customers' products. The company supplies approximately 400 products to customers in a wide range of industries. Subject is a chemical company. Its portfolio ranges from
chemicals, plastics, performance products and products for crop protection to
oil and gas. TRADEMARKS: BASF (owned by the Corporation). |
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OPERATIONS |
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Import |
Yes |
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Country |
United States, Germany, England, Belgium,
China, Hong Kong, Brazil, etc through direct credit. |
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Export |
Yes |
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COUNTRY |
United States and countries of South
America and Central America, through direct credit |
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% CASH SALES / METHOD |
15% |
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% Credit SALES / Terms |
85% (30-day credit terms) |
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% Ventas exterior (Paises) |
35% |
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% DOMESTIC PURCHASES |
55% |
% FOREIGN PURCHASES |
45% |
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SELLING TerritorY |
Domestic market (65%) |
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Comments |
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CUSTOMERS: Most products manufactured by BASF are not sold directly to consumers as finished products, but to manufacturers and industrial users who rely on BASF products and technology to improve what they do and sell, such as: -Polímeros Nacionales S.A. de C.V.-Polyresinas S.A. de C.V.-Promaplast S.A. de C.V.-Brenntag México, S.A. de C.V.-Plásticos y Compuestos, S.A. de C.V.-Entecresins México, S.A. de C.V.-DVA Mexicana, S.A. de C.V.-Basf S.A. (Spain)-Basf Performance Productos Trading (China)-Global Champion Ltd. (Hong Kong)-Styrolution Belgium N.V. (Belgium)The company is associated with the "National Chamber of Transformation Industry (CANACINTRA)".-The Subject is also a partner of the "American Chamber of Commerce of México A.C. (AMCHAM)". |
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Disposition |
TF: REPORT PREPARED FROM OUTSIDE SOURCES. |
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Information provided |
All information contained in this report was obtained through a compilation of data from different external sources because directly refused to provide any type of business and financial information of the company on grounds of confidentiality.We clarify that at the reception desk we were told that by security they can not provide names of the Directors of the company and can not transfers calls or make appointments with executives for this kind of information. |
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FINANCIAL SITUATION |
A+: GOODTaking into account the last Financial Statement submitted and/or other factors analyzed, we estimate that Subject's financial Situation is GOOD, due to the following considerations:-Liquidity ratio is higher or similar than industry average.-Positive working capital that allows Subject to comply with payments promptly.-Shareholder's equity covers its current liabilities largely.-The results are positive. |
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Property of company comments |
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Subject's main assets include:- Office furniture and equipment- Computer equipment- Vehicles- Machinery and equipment- Warehouse equipment- Laboratories |
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INSURANCE |
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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. 59.03 |
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UK Pound |
1 |
Rs. 98.91 |
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Euro |
1 |
Rs. 80.33 |
INFORMATION DETAILS
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Report Prepared
by : |
DPT |
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.