|
Report Date : |
28.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
DUFERCO SA |
|
|
|
|
Registered Office : |
Via Bagutti 9 6900 Lugano/TI
Switzerland/CH |
|
|
|
|
Country : |
Switzerland |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
12.08.1982 |
|
|
|
|
Com. Reg. No.: |
514.3.002.576-4 / 47756 |
|
|
|
|
Legal Form : |
Company limited by shares |
|
|
|
|
Line of Business : |
Agents involved in the sale of fuels, ores, metals and industrial
chemicals |
|
|
|
|
No. of Employees : |
3,041 |
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 : |
Exist |
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) |
|
Switzerland |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SWITZERLAND - ECONOMIC OVERVIEW
Switzerland is a peaceful, prosperous,
and modern market economy with low unemployment, a highly skilled labor force,
and a per capita GDP among the highest in the world. Switzerland's economy
benefits from a highly developed service sector, led by financial services, and
a manufacturing industry that specializes in high-technology, knowledge-based
production. Its economic and political stability, transparent legal system,
exceptional infrastructure, efficient capital markets, and low corporate tax
rates also make Switzerland one of the world's most competitive economies. The
Swiss have brought their economic practices largely into conformity with the
EU's to enhance their international competitiveness, but some trade
protectionism remains, particularly for its small agricultural sector. The fate
of the Swiss economy is tightly linked to that of its neighbors in the euro
zone, which purchases half of all Swiss exports. The global financial crisis of
2008 and resulting economic downturn in 2009 stalled export demand and put
Switzerland in a recession. The Swiss National Bank (SNB) during this period
effectively implemented a zero-interest rate policy to boost the economy as
well as prevent appreciation of the franc, and Switzerland's economy began to
recover in 2010. The sovereign debt crises currently unfolding in neighboring
euro-zone countries pose a significant risk to Switzerland's financial
stability and are driving up demand for the Swiss franc by investors seeking a
safe-haven currency. The independent SNB has upheld its zero-interest rate
policy and conducted major market interventions to prevent further appreciation
of the Swiss franc, but parliamentarians have urged it to do more to weaken the
currency. The franc's strength has made Swiss exports less competitive and
weakened the country's growth outlook; GDP growth fell below 2% per year during
2011-13. Switzerland has also come under increasing pressure from individual
neighboring countries, the EU, the US, and international institutions to reform
its banking secrecy laws. Consequently, the government agreed to conform to
OECD regulations on administrative assistance in tax matters, including tax
evasion. The government has renegotiated its double taxation agreements with
numerous countries, including the US, to incorporate the OECD standard, and is
considering the possibility of imposing taxes on bank deposits held by
foreigners. These steps will have a lasting impact on Switzerland's long
history of bank secrecy.
|
Source
: CIA |
Duferco SA
Via Bagutti 9
6900 Lugano/TI
Switzerland/CH
Telephone: 091
8225600
Fax: 091
8225700
Web
site: http://www.duferco.com
E-mail: info@duferco.com
WIN
Worldbox No.: CH0000420982
VAT-No.: CHE101355469
Established: 1979
History: 1979: Established from Bruno Bolfo
Line
of Business: Trade brokers
Industry
Division: Wholesale trade
Industry-code (NACE): 4612 Agents involved in the sale of fuels,
ores, metals and industrial chemicals
Import/Export: Agency
Banks: unknown
Coverage: Company
Figures: approximately
Employees: 250
The company distributes metal and steel
products which are produced by the companies of the Duferco Group.
Products: cold heading quality, high carbon and
alloyed steel required for wire rods; boron and alloyed steel required for
billets.
Information on property ownership was not
available.
Company
No: 514.3.002.576-4 / 47756
Legal
form: Company limited by
shares
Registration: 12.08.1982
Legal
status: active
Responsible
Register: Registro di commercio del
Cantone Ticino
History: Date of Statutes:
26.08.1996
Date of
Incorporation Statutes: 11.08.1982
Date of
Statutes: 01.07.2010
Date of
Statutes: 07.09.2007
Date of Statutes:
28.08.2007
Date of
Statutes: 30.04.2003
Date of
Statutes: 22.02.2002
Entry Deleted Name
active Duferco
SA
Entry Deleted Legal domicile
active Lugano,
Switzerland
Entry Deleted Address
07.04.1998 Via Bagutti
9, 6900 Lugano/TI, Switzerland/CH
07.04.1998 Via Cantonale 19, 6900 Lugano/TI,
Switzerland/CH
Entry Deleted Capital
18.09.2007 Share
Capital CHF 2,750,000, paidup CHF 2,750,000
Entry Deleted Capital Structure
02.07.2010 2,750
Registered shares of CHF 1,000.--
18.09.2007 02.07.2010 2,750 Bearer shares of CHF 1,000.--
Entry Deleted Branches
23.06.2000 10.12.2001 , Delémont/JU, Switzerland/CH
Title Name
President Bruno Bolfo,
Origin: Italy, Residential address: Lugano/TI, Switzerland, born: 29.04.1983,
joint signature of two
Chief
Executive Antonio
Gozzi, Origin: Italy, Residential address: Chiavari, Italy, joint signature of
two, Registered since: 05.10.2007
Chief
Executive Benedict
J. Sciortino, Origin: Lugano, Switzerland, Residential address: Lugano/TI,
Switzerland, joint signature of two
Director Matthew De
Morgan, Origin: United Kingdom, Residential address: 6900 Lugano/TI,
Switzerland, joint signature of two, Registered since: 05.02.2008
Title Name
Director Stefano
Arancio, Origin: Italy, Residential address: Berganzona/TI, Switzerland, joint
signature of two
Director Alessandro
Casale, Origin: Italy, Residential address: Castagnola/TI, Switzerland, joint
signature of two, Restricted signatory powers, Registered since: 07.05.2008
Director Paolo
Foti, Origin: Italy, Residential address: Lugano/TI, Switzerland, joint
signature of two
Director Roger
David Hughes, Origin: United Kingdom, Residential address: Savosa, Switzerland,
joint signature of two, Restricted signatory powers, Registered since:
25.09.2014
Director Thomas
Patrick, Origin: Langnau im Emmental, Switzerland, Residential address: Ponte
Capriasca, Switzerland, joint signature of two, Restricted signatory powers,
Registered since: 19.09.2005
Director Enrico
Toschi, Origin: Italy, Residential address: Carona, Switzerland, born:
11.04.1964, joint signature of two, Restricted signatory powers, Registered
since: 07.05.2008
Director Giuseppe
Venturato, Origin: Lugano, Switzerland, Residential address: Origlio,
Switzerland, born: 06.01.1966, joint signature of two, Restricted signatory
powers, Registered since: 07.05.2008
Title Name
Auditor PricewaterhouseCoopers
SA, Residential address: Lugano, Switzerland, Id: CH-514.9.014.248-1,
Registered since: 05.04.2011
Title Name
Chief
Executive Officer Matthew De
Morgan
Chief
Financial Officer Benedict
J. Sciortino
Chief
Administration Officer Paolo Foti
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2013 31.12.2012
Number of months: 12 12
Currency: th.
USD th. USD
Operating revenue 7,684,681.0 7,629,494.0
Result before minority
interests 8,111.0 20,346.0
Total shareholders
equity 1,189,141.0 1,210,120.0
Total assets 4,389,103.0 4,414,159.0
Employees at year end 3,041
Name: DUFERCO PARTICIPATIONS
HOLDING S.A.
City/Country: Luxembourg, Luxembourg/LU
No.
of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Type: indirect, Group-Level
1
Name: DUFERCO PARTICIPATIONS
HOLDING S.A.
City/Country: Luxembourg, Luxembourg/LU
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Type: direct
Name: DUFERCO INTERNATIONAL
TRADING HOLDING S.A.
City/Country: Luxembourg, Luxembourg/LU
Interest: 100,00% voting right,
100,00% capital interest
Name: CSCD Ltd
City/Country: Limassol, Cyprus/CY
Name: Duferco Commerciale
S.p.A.
City/Country: Genova, Italy/IT
Name: DUFERCO DANISH STEEL
A/S
City/Country: Frederiksværk, Denmark/DK
Name: Duferco Deutschland
GmbH
City/Country: Ratingen, Germany/DE
Name: Duferco Espana S.L.
City/Country: Barcelona, Spain/ES
Name: DUFERCO SPECIAL STEELS
(EUROPE)
City/Country: Brussel, Belgium/BE
Name: Duferco Steel Inc.
City/Country: Wilmington/Delaware, United
States of America/US
Name: DUFERCO UK LIMITED
City/Country: Bromsgrove/Worcestershire,
United Kingdom/GB
Class: 100%
Name: DufEnergy Trading SA
City/Country: Lugano/TI, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Name: Duferco C.E.C. SA
City/Country: Lugano/TI, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Name: Duferco Shipping SA
City/Country: Lugano/TI, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest
Control date Year No. Amount CHF Status
29.11.2011 2011 0
29.11.2011 2010 0
29.11.2011 2009 0
29.11.2011 2008 1 162,639.-- Opposition filed
07.01.2011 2007 0
07.01.2011 2006 0
07.01.2011 2005 0
07.01.2011 2004 0
07.01.2011 2003 0
07.01.2011 2002 0
07.01.2011 2001 0
An updated legal action check is only available
against proof of interest. e.g. a copy of an enquiry letter, and order or
invoice relating to the subject company.
Financial
Statements: The company does not
disclose any financial statements. Third parties are not permitted any insight
into the financial affairs. It is therefore difficult to make a proper
assessment of the actual situation.
Financial
Situation: The financial situation
appears to be good.
Payment
experiences: Financial obligations are
met in an orderly manner.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.22 |
|
|
1 |
Rs.98.52 |
|
Euro |
1 |
Rs.77.75 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIS |
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.