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Report Date : |
26.05.2014 |
IDENTIFICATION DETAILS
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Name : |
PILLITTERI ESTATES WINERY INC. |
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Registered Office : |
1696 Niaga Srone Road, RR# 2 Niagara on the Lake, Ontario L0S 1J0 |
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Country : |
Canada |
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Date of Incorporation : |
28.08.1996 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Producer of Icewine |
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No. of Employees : |
30 Staff |
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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Maximum Credit Limit : |
CAD 100,000 |
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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 – March 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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Canada |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
CANADA - ECONOMIC OVERVIEW
As a high-tech industrial
society in the trillion-dollar class, Canada resembles the US in its
market-oriented economic system, pattern of production, and high 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 merchandise exports each year. Canada is the US's largest foreign
supplier of energy, including oil, gas, uranium, and electric power. Given its
abundant 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 2010-13 and plans to balance the budget by
2015. In addition, the country's petroleum sector is rapidly expanding, because
Alberta's oil sands significantly boosted Canada's proven oil reserves. Canada
now ranks third in the world in proved oil reserves behind Saudi Arabia and
Venezuela.
|
Source
: CIA |
Company name: PILLITTERI ESTATES WINERY INC.
Address: 1696 Niaga Srone Road, RR# 2
Niagara on the Lake, Ontario L0S 1J0 - Canada
Telephone: +1
905-468-3147
Fax: +1 905-468-0389
Website: www.pillitteri.com
Corporate ID#: ON-001190648
State: Ontario
Judicial form: Corporation – Profit
Date incorporated: 08-28-1996
Stock: -
Value: -
Name of manager: Connie
SINGERLAND
Business:
Pillitteri Estates Winery is the world’s largest estate producer of
Icewine. Situated in the middle of Niagara Wine Country in Niagara-on-the-Lake,
Ontario, Pillitteri is a favourite stop on many Niagara winery tours, or for
those experiencing wine country on their own.
Brands include Kingsland, Glacial Queen and Glacial Prince, Sol Ice,
Canadian Dream…
The Company exports worldwide and specially to Chine through
Canbest (Beijing) Agricultural Development Co.,
Ltd.
Staff: 30
Operations & branches:
At the headquarters, we
find a large winery, warehouse and office, owned.
Shareholders:
This is a PILLITTERI family
owned company.
Management:
Connie SINGERLAND is the President and CFO
Charles PILLITTERI is Director and Sales Manager.
(they are brother and sister)
As far as we know, they are involved in other corporations, including:
PILLITTERI HOLDINGS INC.
Incorporated in Ontario on November 1, 2013
ID# ON-001898378
In Canada, privately held
corporations are not required to publish any financials.
On a direct call, nobody
was available to answer our questions.
We sent a fax but no answer
received.
Outside sources (bank) gave
estimate sales for year 2013 in the range of
CAD 5,000,000=
The business is profitable.
In February 2012, the
Company pleaded guilty to evading more than $100,000 in
income taxes and paid a fine of CAD 122,031=
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