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Report Date : |
21.03.2014 |
IDENTIFICATION DETAILS
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Name : |
LAWTER ARGENTINA S.A. |
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Registered Office : |
San Martin 323 piso 17 Ciudad de Buenos Aires. |
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Country : |
Argentina |
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Financials (as on) : |
31.12.2013 |
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Year of Establishments: |
2005 |
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Legal Form : |
Corporation |
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Line of Business : |
· Engaged in manufacturing & marketing of resin and synthetic rubber ·
importer of
shellac, resins, carboxylic acids, phenols, and related items. ·
Subject serves
the graphic arts, adhesives, specialty coatings, aroma chemicals and the
synthetic rubber industries. |
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No. of Employees |
100 |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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Argentina |
B1 |
B1 |
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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 |
argentina ECONOMIC OVERVIEW
Argentina benefits from rich natural resources, a highly literate
population, an export-oriented agricultural sector, and a diversified
industrial base. Although one of the world's wealthiest countries 100 years
ago, Argentina suffered during most of the 20th century from recurring economic
crises, persistent fiscal and current account deficits, high inflation,
mounting external debt, and capital flight. A severe depression, growing public
and external indebtedness, and an unprecedented bank run culminated in 2001 in
the most serious economic, social, and political crisis in the country's
turbulent history. Interim President Adolfo RODRIGUEZ SAA declared a default -
at the time the largest ever - on the government's foreign debt in December of
that year, and abruptly resigned only a few days after taking office. His
successor, Eduardo DUHALDE, announced an end to the peso's decade-long 1-to-1
peg to the US dollar in early 2002. The economy bottomed out that year, with
real GDP 18% smaller than in 1998 and almost 60% of Argentines under the
poverty line. Real GDP rebounded to grow by an average 8.5% annually over the
subsequent six years, taking advantage of previously idled industrial capacity
and labor, an audacious debt restructuring and reduced debt burden, excellent
international financial conditions, and expansionary monetary and fiscal
policies. Inflation also increased, however, during the administration of
President Nestor KIRCHNER, which responded with price restraints on businesses,
as well as export taxes and restraints, and beginning in 2007, with
understating inflation data. Cristina FERNANDEZ DE KIRCHNER succeeded her
husband as President in late 2007, and the rapid economic growth of previous
years began to slow sharply the following year as government policies held back
exports and the world economy fell into recession. The economy in 2010
rebounded strongly from the 2009 recession, but has slowed since late 2011 even
as the government continued to rely on expansionary fiscal and monetary
policies, which have kept inflation in the double digits. The government
expanded state intervention in the economy throughout 2012. In May the Congress
approved the nationalization of the oil company YPF from Spain's Repsol. The
government expanded formal and informal measures to restrict imports during the
year, including a requirement for pre-registration and pre-approval of all
imports. In July the government also further tightened currency controls in an
effort to bolster foreign reserves and stem capital flight.
|
Source : CIA |
LAWTER ARGENTINA S.A.
CUIT 30.70947882-2
OPERATING SINCE 2005. LISTED AND BALANCES 2012 AND 2013.
GOOD GENERAL DEVELOPMENT.
ORDERED COMPLIANCE OBLIGATIONS. GOOD RESULTS OF OPERATIONS, CONSIDER FEASIBLE
EXTEND CREDIT.
> RESIN AND SYNTHETIC RUBBER
> MANUFACTURING
> MARKETING
LEGAL FORM: Corporation
FORMED: 2005
REGISTERED R.P.C. 12 DECEMBER 2005
DURATION: 99
YEARS
BALANCE: 31.12.
ACCOUNTANT CARLOS
GOTTI
Legal address: San
Martin 323 piso 17 Ciudad de Buenos Aires.
Operational headquarters in Dardo
Rocha 3108 de Acassuso Provincia de Buenos Aires REPUBLICA
ARGENTINA.
T.E. 54.11.4717.8900
e mail: carlos.gotti@lawter.com
Production plant in Paraje Salto Grande, Federacion, Gualeguaycito,
Entre Rios.
PRESIDENT: BRIGETTE
ROCHELLE TURAY
VICEPRESIDENT: ARIEL
JOSE PORTNOY
DIRECTOR: MARTIN
ALEJANDRO MITTELMAN have the use of the firm name.
General Assembly by July 5, 2013 resolved to increase the share capital in the amount of $ 14,345,937 to fixing it in 91,132,937 represented by 91,132,937 ordinary shares endorsable weighing each nominal value and one vote per share, reforming article - fourth of the bylaws accordingly. Licensed according to Stockholders Meeting private instrument dated July 5, 2013 -. Published in the Official Bulletin No. 32743 of October 15, 2013.
Reference
activities were initiated by the signing DIVCO SA which came without major
operating variables until September 11, 2006. –
On that date by
mutual agreement between the parties, it was decided to change that name to
HEXION CHEMICAL ARGENTINA SA
As of July 25,
2011 tour with his current name, debiendose noted that this is part of the
group of companies Lawter, which maintains its corporate offices in Belgium and
various departments throughout the MNDO through subsidiaries and associated
companies.
Below we quote figures Balances at December 31, 2012 and 2013 expressed
in pesos of our country.
31.12.2012 31.12.2013
TOTAL CURRENT ASSETS. 71,326,662
114,012,616
TOTAL CURRENT ASSETS 23,355,116
8,285,414
TOTAL ASSETS 94,681,778
122,298,030
TOTAL CURRENT LIABILITIES. 27,543,060
44,304,215
TOTAL NON-CURRENT LIABILITIES. 31,492,110
25,650,125
TOTAL EQUITY 35,646,608
52,343,690
TOTAL LIABILITIES 9,681,778
122,298,030
NET SALES 173
798 215 219 170 444
FINAL BALANCE (LOSS) (5,567,263)
PROFIT ...2,353,015
CARRIAGES: NOT OWN VEHICLE
REAL ESTATE:
-------------------------
The property title with 480 m2 covered are awarded, and occupying its industrial plant with 10,000 m2 of land and 6,000 m2.
All goods are declared without debt.
They imported products such as shellac, resins, carboxylic acids,
phenols, and related items.
Subject serves the graphic
arts, adhesives, specialty coatings, aroma chemicals and the synthetic rubber
industries.
In recent months there have been imports since. U.S.A., Brazil, Spain,
and others for a total of U$S 2,287,442-
The specific purposes of the enterprise concerned with the manufacture
and sale of synthetic resins and rubbers, standing out which markets its
products under contracts with members countries of the Mercosur.
The organization is an infrastructure and organization in which their
managers jointly participate.
100 employees collaborate.
The property title has 480 m2.
While the plant is about 6,000 m2.
Its suppliers
include:
> DUAL S.A.
> RESINOL S.A.
> LAWTER INC. DE USA
> CH ROBINSON INTERNATIONAL USA
> FORESTAL SAN FRANCISCO SOCIEDAD ANONIMA
> BANCO DE GALICIA Y BUENOS AIRES BRANCH MARTINEZ
> BBVA BCO FRANCES
> ICBC ARGENTINA S.A.
INSURANCE:
> CNA ART S.A.
> LA MERIDIONAL CIA DE SEGUROS S.A.
CREDIT RISK
----------------------
BANCO DE GALICIA Y BUENOS
AIRES.....................................3.875.300
BANCO FRANCES.......................................................
242.700
AMERICAN EXPRESS....................................................
32.600
Situation 1, normal.
The General Starring Company is normal.
No that may affect the development of the firm are recorded.
The evolution is good and the cancellation of obligations are within the
due dates.
* GOOD TO PROCEED CREDIT.
Summarizing the above it is considered that nothing is recorded that may affect our business concept rubrada, and established then that is apt for credit transactions within sums of current economic importance in practical conditions.
* SUITABLE FOR NEW CREDITS.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.13 |
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UK Pound |
1 |
Rs.101.17 |
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Euro |
1 |
Rs.84.59 |
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 |
-- |
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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.