MIRA INFORM REPORT

 

 

Report Date :

17.10.2014

 

IDENTIFICATION DETAILS

 

Name :

FERMIC S.A. DE C.V.

 

 

Registered Office :

Reforma No. 873, Colonia San Nicolas, Tolentino, 09850

 

 

Country :

Mexico

 

 

Year of Establishment :

1968

 

 

Legal Form :

Sociedad Anónima de Capital Variable

 

 

Line of Business :

Manufacturing of Pharmaceuticals.

 

 

No. of Employees :

350

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

 

Status :

Moderate

 

 

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Mexico

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

MEXICO - ECONOMIC OVERVIEW

 

Mexico's $1.3 trillion economy has become increasingly oriented toward manufacturing in the 20 years since the North American Free Trade Agreement (NAFTA) entered into force. Per capita income is roughly one-third that of the US; income distribution remains highly unequal. Mexico has become the United States' second-largest export market and third-largest source of imports. In 2013, two-way merchandise trade reached nearly $507 billion. 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 formed the Pacific Alliance with Peru, Colombia and Chile. Mexico's current government, led by President Enrique PENA NIETO, emphasized economic reforms during its first year in office, passing education, energy, financial, fiscal and telecommunications reform legislation. The three-party "Pact for Mexico" reform agenda aims to improve competitiveness and economic growth across the Mexican economy.

 

Source : CIA

 

 

Company Name and Summary 

 

Order:

FERMIC S.A. DE C.V.

Address in the order:

Reforma No. 873, Colonia San Nicolas, Tolentino, 09850 Mexico

Legal Name:

FERMIC S.A. DE C.V.

Trade Name:

FERMIC

RFC:

FER-660512-JT7

Date Created:

1968

Date Incorporated:

October 11, 2004

Legal Address:

Reforma No. 873, Colonia San Nicolas, Tolentino, 09850 Mexico

Operative Address:

Reforma No. 873, Colonia San Nicolas, Tolentino, 09850 Mexico

Telephone:

52 55 50370001

Fax:

52 55 56561542

Legal Form:

Sociedad Anónima de Capital Variable

Email:

dfalzoni@fermic.com.mx

Registered in:

Tolentino, Mexico

Website:

www.fermic.com.mx

Manager:

Daniele Falzoni, President

Staff:

350

Activity:

Pharmaceutical Manufacturing

SIC Codes:

2833 2834 2835

 

                                                                                   

BANKS

                                                                                

BANK

Banamex

This information was not verified by the company

 

                                                                                

HISTORY 

 

This company started production in 1968.

 

 

MAIN ACTIVITY

 

Fermic operates a U.S. FDA cGMP approved fermentation and synthesis facility and has one of the largest fermentation plants in Latin America. Fermic is currently producing and supplying bulk active ingredients for production of pharmaceuticals and is working with customers on production technologies for supplying finished pharmaceutical dosage forms. with capacity for 1.300.000 Lts. and new fermentation tanks adding up 570.000 lts more.


VERENIUM (3550 John Hopkins Ct. San Diego, CA 92121)  entered into a manufacturing agreement with Fermic to provide them with the capacity to produce commercial quantities of certain enzyme products.

Products/Services:

It's main products include:

Antibiotics:

Erythromicyn Ethylsuccinate
Clarithromycin
Clavulanate Potassium Oral Mixed With
Avicel For Tablets
Syloid For Suspension
Clavulanate Potassium Sterile Injectable
Deferoxamine Mesylate
Antihypercolesterolemic Agents:
Lovastatin
Simvastatin

Custom Manufacturing:

Astaxanthin-Biocolorant And Antioxidant
Enzymes

Trademarks:

Phyzyme® XP Phytase, Purifine® PLC, Fuelzyme® Alpha-amylase, Veretase® Alpha-amylase, Xylathin® Xylanase, Luminase® Xylanase, Cottonase® Pectate lyase and Pyrolase® cellulase.

Sales:

Wholesale

Clients:

DUPONT ARGENTINA
Argentina

Finnfeeds Oy
Finland

WEISSBIO TECH GMBH
Germany

Competitors:

Laboratorios Pisa,
Antibióticos de México
Virbac de México, S.A. de C.V.

Suppliers

ExpoSorted
6 Broad Quay,
Bristol
BS1 4DA

BDV BEHRENS GMBH
germany

R.M.I. Flexitanks B.V.
Germany

Operations Area:

National & International

The company imports from:

Europe

The company exports to

Germany, Argentina, Finland, USA

The company employs

350 employees

Payments:

Regular

 

                                                                                

LOCATION

                                                                                

Headquarters  :

Reforma No. 873, Colonia San Nicolas, Tolentino, 09850 Mexico

Branches:

The company does not have branches

Business Industry:

Companies in this industry manufacture and process pharmaceutical products.

Demand for pharmaceuticals is driven by the desire to cure illness and disease. The profitability of individual companies depends on their ability to discover and market new drugs. Large companies benefit from their economies of scale in research, manufacturing, and marketing. Small companies can compete effectively by specializing in drugs that target one or two specific ailments and by partnering with larger drugmakers.

Drugs are chemicals with beneficial biological activity. Modern drug development is an outgrowth of recent research into the specific causes of illness and disease, coupled with advances in chemistry and industrial technology that allow scientists to manufacture chemicals to improve these conditions.

                                                                                

 

GROUP STRUCTURE AND SUBSIDIARY COMPANIES    

 

Listed at the stock exchange:

NO

Capital:

NA

Shareholders %:

This is a private held company, the Falzoni Family is the main shareholder.

Management:

Daniele Falzoni, President
Alessandro Falzoni, CEO
Ing. Fernando Lara, Plant Director
Ing. Gaetano Sarra, Production Director

Subsidiaries:

The company does not have subsidiaries

Partners

ACIC
81 Sinclair Boulevard
Brantford, Ontario
N3S 7X6, CANADA
Tel: 1-800-265-6727 or Tel: 519-751-3668
Fax: 519-751-1378

VERENIUM
3550 John Hopkins Ct.
San Diego, CA 92121 

                                                                                

 

FINANCIAL INFORMATION

                                                                                

This is a private company that does not make its financial statemtnts public. This information has been provided by our outside sources.

Currency

USD

Date

2013

Turnover

500 000

The cash flow is

NORMAL

                                                                                

                                                                                

LEGAL FILINGS  

 

The sources consulted record no detrimental legal or labor court information.

 

DATE: 1992

NOTICES
LEGAL AND GENERAL
 
Judiciary of the State of Mexico First Civil Texcoco, Mex.
 
EDICT
In the file file number 597/92 on the procedure for suspension of payments Fermic, SA de CV, transacted in the First Civil Court of Texcoco, State of Mexico, the First Civil Judge of this city, city ordered the convening of the creditors of such company to the meeting of creditors for the purposes of approving or disapproving the proposed agreement by petitioner, and to be held in the premises of this Court on October 29 this year, at nine hours and thirty minutes, according to the following agenda:
          1.-Roll Call.
          2. Creditors entitled to vote and in what proportion.
          Propositions 3.- agreement submitted by the receivership and suspended.
          4.-Voting Agreement.
          5.-General business.
Given in Texcoco, Mexico, on the fifteenth day of October 1990 SEVEN.-

 

 

SUMMARY    

 

Fermic is a Mexican pharmaceutical manufacturing company with 46 years of experience in the market.

The company has a medium sized structure and participates in various business agreements with US companies.

There is a negative legal record from year 1992 concerning supenssion of payments and call to creditors. Although this record is quite old, we suggest taking it into account.

The company mainly imports from Europe and exports to USA and Latin America.

                                                                                

RISK INFORMATION

                                                                                

DEBTS

Controlled

PAYMENTS

Regular

CASH FLOW

Normal

 

                                                                                

ENTERVIEW

                                                                                

NAME

Patricia Martinez

POSITION

Accounting Department

COMMENTS

Mrs. Martinez was very kind to answer , she confirmed activity, managers, staff and exports.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.48

UK Pound

1

Rs.98.24

Euro

1

Rs.78.66

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NIT

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.