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Report Date : |
28.03.2014 |
IDENTIFICATION DETAILS
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Name : |
CAMBIASO HNOS S.A.C. |
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Registered Office : |
Brasil 2492 , Valparaíso |
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Country : |
Chile |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
03.12.1950 |
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Legal Form : |
Stock Company |
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Line of Business : |
Packing and sale of tea and organic herbs of the brands SUPREMO and
GARDEN OF THE ANDES, respectively. It is also engaged in the manufacture of cleaning bags and packing
products for supermarkets and business in general, sold under the brand
SUPERIOR and MILDRED. |
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No. of Employees : |
1,100 |
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.
CHILE - ECONOMIC OVERVIEW
Chile has a market-oriented economy
characterized by a high level of foreign trade and a reputation for strong
financial institutions and sound policy that have given it the strongest
sovereign bond rating in South America. Exports of goods and services account
for approximately one-third of GDP, with commodities making up some
three-quarters of total exports. Copper alone provides 19% of government
revenue. From 2003 through 2013, real growth averaged almost 5% per year,
despite the slight contraction in 2009 that resulted from the global financial
crisis. Chile deepened its longstanding commitment to trade liberalization with
the signing of a free trade agreement with the US, which took effect on 1
January 2004. Chile has 22 trade agreements covering 60 countries including
agreements with the European Union, Mercosur, China, India, South Korea, and
Mexico. Chile has joined the United States and nine other countries in
negotiating the Trans-Pacific-Partnership trade agreement. The Chilean
Government has generally followed a countercyclical fiscal policy, accumulating
surpluses in sovereign wealth funds during periods of high copper prices and
economic growth, and generally allowing deficit spending only during periods of
low copper prices and growth. As of 31 December 2012, those sovereign wealth
funds - kept mostly outside the country and separate from Central Bank reserves
- amounted to more than $20.9 billion. Chile used these funds to finance fiscal
stimulus packages during the 2009 economic downturn. In May 2010 Chile signed
the OECD Convention, becoming the first South American country to join the
OECD.
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Source
: CIA |
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CORRECT COMPANY NAME |
CAMBIASO HNOS S.A.C. |
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TAXPAYER REGISTRATION |
RUT 914380006 |
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MAIN ADDRESS |
Brasil 2492 , Valparaíso |
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DEPT/PROV/REGION/STATE |
Valparaíso |
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COUNTRY |
CHILE |
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TELEPHONE |
(5632) 2206900 |
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CORPORATE E-MAIL |
glittle@cambiaso.cl |
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WEB |
www.cambiaso.cl; www.supremo.cl |
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COMMENTS |
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The Company does not appear in the List of Clinton. |
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Date of foundation |
1950 |
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Capital stock |
Ps$.1,810,000,000.= Pesos |
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Shareholders' equity |
41,783,000,000.00 Pesos (31DEC2012) |
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Annual revenues |
US$ 134,121,818.94 Pesos (31DEC2012) |
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Profits (loss) |
4,317,000,000.00 Pesos (31DEC2012) |
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permanent employees |
1,100 |
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Chief Executive |
RAMM CAMBIASO, JUAN CARLOS |
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Disposition |
Excellent. Full information and Financial Statements. |
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Payments policy |
Usually to terms / good |
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Number of times that this company was required: 7 |
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LEGAL STATUS |
Stock Company |
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DATE OF INCORPORATION |
03DEC1950 |
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PLACE OF REGISTRY |
Santiago |
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NOTARY OFFICE |
DURATION |
Indefinite |
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REGISTRATION |
No.191, Page 315 of Reg. of Commmerce |
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CURRENT PAID-IN CAPITAL |
Ps$.1,810,000,000.= Pesos |
LAST CAPITAL INCREASE |
2008 |
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SHAREHOLDERS EQUITY |
41,783,000,000.00 Pesos (31DEC2012) |
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CURRENT EXCHANGE RATE (US$) |
Ps$.569.10 per US$1.00 |
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FULL NAMES / COMPANY NAME |
TITLE |
%PART. |
SINCE |
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CAMBIASO ROPERT, LUIS JUAN |
President |
93.00% |
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AGUAYO ESPEJO, SERGIO |
Vice President |
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GUBLER DIAZ, FERNANDO |
Director/Controller Mgr. |
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CAMBIASO DEMARIA, FLAVIA. |
Director |
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RAMM CAMBIASO, JUAN CARLOS |
General Manager |
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LITTLE, GEORGE |
Adm. & Finance Manager |
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LARRAIN, JOSE LUIS |
Commercial Manager |
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GAIO JORQUERA, OSWALDO |
Shareholder |
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INVERSIONES Y COMERCIO SANTA MARGOT S.A. |
Shareholder / Member |
7.00% |
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CAMBIASO ROPERT, LUIS JUAN |
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TITLE |
President |
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NATIONALITY |
Chilean |
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D.O.B. |
17DEC1935 (Viña del Mar) |
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CIVIL STATUS |
Married to María Elena Demaría Rocca |
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FATHER'S NAME |
Luis Cambiaso Denegri (?) |
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MOTHER'S NAME |
Margot Ropert Gallet (?) |
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BACKGROUND INFORMATION |
He is Antonio Cambiaso Lavagetto's
grandson. |
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INVERSIONES Y COMERCIO SANTA MARGOT S.A. |
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BUSINESS BACKGROUND Chilean company dedicated to provide advertising services. Started operating on 05-10-1999 |
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Two immmigrants, Juan Bautista and his nephew, Antonio Cambiaso, founded
in 1875 a company called CAMBIASO, which gradually became one of the most
important suppliers of the country in the distribution of tea, olive oil,
cheese, every kind of canned food,
tools, etc. The Company grew quickly but
Juan Bautista returned to Italy, and Antonio took charge of the company.
Antonio got married and had eleven children. Among them, Juan, Ernesto,
Carlos, Luis and Armando, followed their father's track. They went to European
universities to study, and then entered the Company, which was called
"CAMBIASO E HIJOS".
The Company kept progressing and during the 30's, the factory EL VERGEL
SA, was set up. Later, in 1943, it stopped being part of the Company. In 1948, CONVERVERA
CORRAL SA was established, a company engaged in seafood products and which was
part of the Company until 1959.
When the partners died, at early 60's, the Company faced up a serious
crisis that put the Company's existance at risk, and its personnel had to be
reduced to only two employees.
Under these circumstances, Luis Cambiaso Ropert, took charge of the
Company, and later, his sister Monica joined him. Thus together, they started again
new activities to overcome such a serious situation. At that time, the
different products sold by the Company were basically reduced to tea, and in
1964, the SUPREMO brand was launched (SUPREMO mate herbs and tea). The product
began to be packed in the company's facilities (located at Av. Brasil 2492,
Valparaíso); then it began to be gradually introduced in the domestic market.
In 1970, the Company faced up the nationalization of the sale and
distribution of tea, and mate herbs, the major line of its activities.
The Company's return to the market took place again by late 1973, and
since then, it has captured consumer preferences throughout the country without
interruption and has kept being a leading brand.
By mid-eighties, CAMBIASO HERMANOS SAC - as a way to expand its markets
- started to export its products to countries in North and South America,
Europe and other countries worldwide.
At present, the quality of its products keeps capturing new markets.
In order to meet the requirements of the most developed markets and
being ahead of new food trends and changes, CAMBIASO HERMANOS SAC also created
a line of organic herbs under the brandname GARDEN OF THE ANDES. That ecologic
product is exported to the United States, Japan and Europe.
As a way to diversify its business activities, by early eighties, the
company entered the plastic industry. At
first, it sought to meet some the requirement of inputs for tea packing, but
soon such activity started to grow, thereby and taking advantage of its great
distribution nationwide, the Company specialized in cleaning bags and packing
products for supermarkets and trade in general, which are sold under the brand
SUPERIOR.
One of the important milestones in the
history of the company took place in 2001, when it was created in the United
States the subsidiary Cambiaso Brothers, designed to facilitate the entry of
organic products to the US market.
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COMPANY NAME |
COUNTRY |
TAX REG. |
RELATION % |
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CAMBIASO BROTHERS INC |
U.S.A. |
(AC) P01000099505 |
Related |
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SIC Classification B - AGROINDUSTRIA-PROD. ALIMENTICIOS- BEBIDAS (Proceso industrial de
Alimentos, productos agrícolas, frutas, conservas, bebidas gaseosas, cervezas,
) |
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Main activity |
Packing and sale of tea and
organic herbs of the brands SUPREMO and GARDEN OF THE ANDES, respectively. It is also engaged in the manufacture of cleaning bags and packing
products for supermarkets and business in general, sold under the brand
SUPERIOR and MILDRED. |
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O P E R A T I O N S |
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Import |
Yes |
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Country |
Brazil, USA |
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ANNUAL Imports In US$ (CIF) |
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Export |
Yes |
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COUNTRY |
Guatemala, Venezuela, Paraguay, Panama |
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Annual exports in US$ (FOB) |
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% CASH SALES / METHOD |
10% |
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% Credit SALES / Terms |
90% (85 days) |
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% Ventas exterior (Paises) |
2% |
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SELLING TerritorY |
Domestic market - 98% |
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EMPLOYEES |
1,100 |
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Comments |
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The Company has its own organic farm that operates under strict
quality standards, certified by prestigious international organizations. Market share: 55% Market share of the main competitor: 40% Other: 5% |
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Disposition |
Excellent. Full information and Financial Statements. |
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Interviewee(s) |
George Little O. |
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Position(s) |
Finance Manager |
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Information provided |
Mr. Little confirmed information and updated commercial information. With
regards to the financials, he provided with an extract of the Balance Sheet
for the FY aas of 31/12/2012, expressed in Pesos. He also included the Turnover for the FY 2013, which are in the region
of Ps$.69,122,000,000.= Pesos. |
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FINANCIAL SITUATION |
Taking into account the last Financial Statement submitted and/or other
factors analyzed, we believe that financial Situation of the Company is GOOD
due to the following considerations: - Liquidity Ratio is higher or similar than industry average - Positive working capital allows the Company to comply with payments
promptly - Shareholders' equity covers its current liabilities largely - Economic and financial results have been satisfactory - Company's trend is positive - Shareholders' support is important |
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INSURANCE |
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(Confidential Information)
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TRADE REFERENCES |
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Several consulted sources coincide that the subject fulfills promptly
with its payments. Nothing against it. |
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Note : Other suppliers did not provide information or could not be
consulted |
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Found no bad. |
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Explanation about commercial reputation
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.13 |
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1 |
Rs.99.65 |
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Euro |
1 |
Rs.82.91 |
INFORMATION DETAILS
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Report Prepared
by : |
NNA |
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.