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Report Date : |
08.09.2014 |
IDENTIFICATION DETAILS
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Name : |
MACCO ORGANIQUES INC. |
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Registered Office : |
100 Rue McArthur, |
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Country : |
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Date of Incorporation : |
21.02.1986 |
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Legal Form : |
Federal Corporation – Profit |
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Line of Business : |
Subject produces propionates, benzoates, and acetates for food and pharmaceutical industries. Its products include calcium acetate, chloride, and propionate; potassium acetate and benzoate; and sodium acetate, benzoate, diacetate, propionate, and acetate trihydrate. |
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No. of Employees |
71 |
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 – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 |
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 |
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
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Source
: CIA |
Company name: MACCO ORGANIQUES INC.
Address: 100 Rue McArthur, Salaberry-de-Valleyfield, Quebec J6S 4M5
Canada
Telephone: +1 450-371-1066
Fax: +1 450-371-5519
Website: www.macco.ca
Corporate ID#: 2055813
State: Federal
Judicial form: Federal Corporation – Profit
Date incorporated: 02-21-1986
Stock: -
Value: -
Name of
manager: Robert J. BRISCOE
Business:
Macco Organiques Inc. produces propionates, benzoates, and acetates for food and pharmaceutical industries. Its products include calcium acetate, chloride, and propionate; potassium acetate and benzoate; and sodium acetate, benzoate, diacetate, propionate, and acetate trihydrate.
The company sells its products worldwide through agents and distributors in North America, South America, Western Europe, Japan, South East Asia, Australia, New-Zealand, and the Middle East.
Macco Organiques Inc. was founded in 1986 and is based in Valleyfield, Canada.
The Company exports worldwide.
Staff: 71
Operations & branches:
At the
headquarters, we find a factory, warehouse and office.
Shareholders:
1st
shareholders: (+50%)
LALLEMAND INC.
1620 Rue Préfontaine, Montreal, Quebec H1W 2N8 – Canada
Established in the last
century to supply ingredients to the baking industry, Lallemand has been producing
and marketing yeast along with ancillary ingredients to the baking trade since
1921, to the international distilling and wine industry since 1972 and since
1988 bacteria and yeast related ingredients to the animal feed and agricultural
sector, to other food
industries and pharmaceutical and industrial fermentation companies.
2nd shareholder:
176457 CANADA INC.
8180 Chemin de la Cote de Liesse, Montreal, Quebec H4T 1G8 - Canada
Management:
Robert J. BRISCOE, President, Director and CEO.
He has been President of Macco Organiques Inc. since 1986.
Mr. Briscoe has been President of AlimPlus, a food service distributor with sales of CAD 80 million, since 1990.
He has been Chairman of Lallemand Inc. since 1981.
He served as Chairman of the Canadian Chamber of Commerce from 2001 to 2002. He serves as an Executive Director of MACCO Organiques, s.r.o.
He serves as External Director of Carbopur Technologies Inc.
He holds B Sc in Chemistry and MBA from Concordia University.
Other Directors include Jean CHAGNON, Guy MARLEAU, Pierre CHAGNON, and
Antoine CHAGNON.
Rejean LANDRY is Secretary.
Simon RINELLA is the Manager.
Subsidiaries
And partnership:
MACCO ORGANIQUES s.r.o.
Zahradni 46
Bruntal, 792 01
Czech Republic
In Canada,
privately held corporations are not required to publish any financials.
On a direct
call, a financial assistant controlled the present report but deferred any
financials.
We sent a
fax but no answer received.
However,
sales estimate for year 2013 is in the range of CAD 20,000,000=
The
business is profitable.
Banks: HSBC Bank
…
Legal filings &
complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: None
Haut du formulaire
Trade references:
Date
reported: August 2014
High
credit: CAD 25,000
Now owing: 0
Past due: 0
Last
purchase: June 2014
Line of
business: Office supply
Paying
status: On terms
Date
reported: August 2014
High
credit: CAD 120,000
Now owing: 0
Past due: 0
Last
purchase: July 2014
Line of
business: Payroll
Paying
status: As agreed
Date
reported: August 2014
High
credit: CAD 600
Now owing: 0
Past due: 0
Last
purchase: July 2014
Line of
business: Telecommunications
Paying
status: On terms
Domestic
credit history:
National
Credit Bureaus gave a satisfying credit rating.
According to our credit analysts, during the last 6 months, domestic payments were made on due date.
Other
comments:
The Company
maintains a regular business.
The Company
is in good standing.
This means
that all local and federal taxes were paid on due date.
Last report
was filed on 07-14-2014.
The risk is
low.
Our
opinion:
A business
connection may be conducted.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.44 |
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1 |
Rs.98.64 |
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Euro |
1 |
Rs.78.20 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
NIS |
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.