|
Report Date : |
15.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
CATALYST PULP AND PAPER SALES INC. |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
02.08.1988 |
|
|
|
|
Legal Form : |
Corporation – Profit |
|
|
|
|
Line of Business : |
trader and exporter
of pulp and paper. |
|
|
|
|
No. of Employees |
20 |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Canada |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Canada ECONOMIC OVERVIEW
As an affluent, 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: CATALYST PULP AND PAPER SALES INC.
Address: 3600 Lysander Lane, 2nd
floor,
Richmond,
British Columbia V7B 1C3 - Canada
Telephone: +1
604-247-4400
Fax: +1 604-247-0512
Website: www.catalystpaper.com
Corporate ID#: BC-0000349415
State: British Columbia
Judicial form: Corporation – Profit
Date incorporated: August 2,
1988
Stock: -
Value: -
Name of manager: Joe
NEMETH
Business:
The Company is trader and exporter of pulp and paper.
Staff: 20
Operations & branches:
At the headquarters, we
find the corporate office of the group.
Shareholders:
CATALYST PAPER CORPORATION
3600 Lysander Lane, 2nd floor, Richmond, British Columbia V7B
1C3
Federal Corporation, incorporated on September 1, 2001
ID# 3937615
Catalyst Paper Corporation, together with its subsidiaries, produces and
sells mechanical printing papers in western North America.
The company operates through three segments: Specialty Printing Papers,
Newsprint, and Pulp.
CATALYST PAPER CORPORATION is listed in Toronto under symbol CYT.
Management:
Joe NEMETH is the President, Director and CEO.
He serves as the Chief Executive Officer and President of Greenbelt
Renewable Energy Inc. Mr. Nemeth has been the President and Chief Executive
Officer of Catalyst Paper Corporation since October 1, 2013. He served as Vice
President, Pulp & Paper Marketing at Canfor Corp., since January 2003. He
served as Vice President of Sales and Marketing at Canfor Pulp Income Holding
Inc., a general partner of Canfor Pulp Income Fund from July 1, 2006 to April
28, 2010.
He served as the Chief Executive Officer and President of Canfor Pulp
Products Inc. from April 28, 2010 to September 30, 2012. His career spans a
broad range of Forest Industry experience including Woodlands, Solid Wood
Products and Pulp & Paper sectors in both production and marketing
disciplines.
He served as the Chief Executive Officer and President of Canfor Pulp
Holding Inc., the General Partner of Canfor Pulp Limited Partnership from April
28, 2010 to September 30, 2012. Mr. Nemeth served as Vice President of Pulp and
Paper Sales and Marketing for Canfor Pulp Holding Inc. which is a General
Partner of Canfor Corp., the holding company of Canfor Pulp Limited Partnership
and Canadian Forest Products Ltd. He served for 14 years with Fletcher
Challenge Canada (now Norske Skog) and served as Paper Mill Manager and
Production Director of Paper Division at Elk Falls from 1996 to 1998 and served
as Vice President of North American Newsprint Sales from 1999 to 2000. He has
been a Director of Welwind Energy International Corporation since July 6, 2001.
He has been a Director at Fortress Paper Ltd., since October 17, 2012 and its
Lead Director since April 1, 2013. He serves as a Director of Greenbelt
Renewable Energy Inc., Catalyst Paper Corporation, Cultus Lake Capital VCC
Board, and the International Bio-Recovery Vancouver Island Board. He served as
a Director of Canfor Pulp Holding Inc., the General Partner of Canfor Pulp
Limited Partnership from April 28, 2010 to April 24, 2012.
Mr. Nemeth served as a Director of Vitasti Inc. since July 6, 2001.
He has a Master of Business Administration degree from the University of
Western Ontario and a Bachelor of Forestry (Honours) degree from the University
of British Columbia.
Brian BAARDA is the CFO.
As far as we know, they are involved in several other corporations of
the group.
In Canada, privately held
corporations are not required to publish any financials.
On a direct call, a
financial assistant controlled the present report and confirmed that all
financials are consolidated into the parent company which reported:
Sales 2013: CAD 1,051,400,000=
Net loss: CAD 127,600,000=
Banks: Royal Bank of Canada
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: None
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.52 |
|
UK Pound |
1 |
Rs.102.22 |
|
Euro |
1 |
Rs.85.23 |
INFORMATION DETAILS
|
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.