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Report No. : |
316906 |
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Report Date : |
13.04.2015 |
IDENTIFICATION DETAILS
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Name : |
LEGGETT & PLATT CANADA CO. |
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Registered Office : |
6595 Ordan Drive, Mississauga, Ontario L5T 1X2 |
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Country : |
Canada |
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Date of Incorporation : |
22.06.1994 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Subject is engages in the design and production of a range of engineered components and products. |
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No of Employees : |
600 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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.
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Source
: CIA |
WESTEX INTERNATIONAL
This is a business name registered in Ontario on 03-16-2006, under ID#
ON-160309670, and owned by:
Company name: LEGGETT & PLATT CANADA CO.
(in English)
SOCIETE
LEGETT & PLATT CANADA (in French)
Address: 6595
Ordan Drive, Mississauga, Ontario L5T 1X2 - Canada
Telephone: +1
905-501-1997
Fax: +1 905-501-7339
Website: www.westex-intl.com
Corporate ID#: 3277732
State: Nova Scotia
Judicial form: Corporation – Profit
Date incorporated: 12-20-2013
Date founded: 06-22-1994
Stock: -
Value: -
Name of manager: Jack
D. CRUSA
History:
Business issued from the
merger of:
- LEGGETT & CANADA CANADA
LTD
- A & R GEOSYNTHETICS
INC.
Business:
Leggett & Platt Canada Co. engages in the design and production of a
range of engineered components and products. It offers bedding products,
furniture and consumer products.
The company is based in Halifax, Canada.
Leggett & Platt Canada Co. operates as a subsidiary of Leggett &
Platt, Incorporated.
The Company is
using several business names, including:
Canadian Furniture
Lenrod Industries
Leggettwood
Schukra of North America
Westex International
and others.
Westex International designs, manufactures, imports, and sells bedding
products. It offers down and down-alternative duvets, pillows, mattress pads,
pillow protectors, fiber beds, and featherbeds; duvet covers, duvet cover sets,
sheet sets, and decorative cushions; and laundry solutions, such as ironing
board covers and pad sets, ironing boards, indoor and outdoor dryers,
clotheslines, and related accessories, as well as laundry/storage hampers, nest
sets, and individual boxes. The company also specializes in private label
product categories for retailers. It sells its products to wholesale, retail,
and hospitality customers in North America and internationally.
Staff: 600
Operations & branches:
At the headquarters, we
find a factory, warehouse and office.
The Company maintains
several branches in Canada, including a major one located:
1959 Upper Water Street, Suite 900
Halifax, Nova Scotia B3J 2X2 - Canada
Shareholders:
LEGGETT & PLATT, INCORPORATED
1 Leggett Road, Carthage, MO 64836 - USA
Leggett & Platt, Incorporated designs and produces various
engineered components and products worldwide.
The company’s Residential Furnishings segment offers innersprings and
wire forms; steel mechanisms and hardware, springs, seat suspensions, steel
tubular seat frames, bed frames, ornamental beds, and adjustable beds, as well
as top-of-bed accessories; and structural fabrics, carpet underlay materials,
and geo components.
This segment serves manufacturers of finished bedding products or
upholstered furniture. Its Commercial Fixturing & Components segment
provides shelving, counters, showcases, and garment racks; standardized
shelving; and bases, columns, back rests, casters, and frames for office
chairs, as well as control devices. This segment serves retail chains and
specialty shops; and institutional, office, and commercial furniture
manufacturers. The company’s Industrial Materials segment offers steel rods,
drawn wires, steel billets, fabricated wire products, welded steel tubing,
fabricated tube components, and titanium and nickel tubing products. This
segment serves bedding and furniture, and mechanical spring makers; automotive
seating, and lawn and garden equipment manufacturers; waste recyclers and waste
removal, and medical supply businesses; and aerospace suppliers and OEMs.
Its Specialized Products segment provides manual and power lumbar
support and massage systems; seat suspension systems; automotive control cables;
low voltage motors and motion assemblies; formed metal and wire components;
quilting machines; machines for shaping wire into springs; industrial
sewing/finishing machines; and van interiors. This segment primarily serves
automobile seating and bedding manufacturers; and telecommunication, cable,
home service, and delivery companies.
The company sells its products through sales representatives and
distributors. Leggett & Platt, Incorporated was founded in 1883 and is
based in Carthage, Missouri.
The Company is listed with
the NYSE under symbol LEG.
Consolidate revenue 2014:
USD 3,782,300,000=
Net profit: USD 98,000,000=
Management:
Jack D. CRUSA is the
President.
He was appointed Senior Vice President in 1999 and President of
Specialized Products at LEGGETT & PLATT INCORPORATED in 2004.
He previously served as President of Industrial Materials from 1999 to
2004, and President of the Automotive Group from 1996 to 1999.
He has served the Company in various capacities since 1986.
Since April 5, 2015, he assumes the additional position of President of
Industrial Materials.
Kenneth R. PURSER and Brian A. ANAUO are Vice Presidents.
Kristen BEERLY and Shonna L. KOCH are Directors.
Subsidiaries
And partnership: None
In Canada, privately held
corporations are not required to publish any financials.
However, from the annual
report of the parent company, it appears that the Canadian sales was USD
206,500,000= in 2014 verse USD 201,600,000= in 2013.
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
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.36 |
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|
1 |
Rs. 91.60 |
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Euro |
1 |
Rs. 66.48 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
DPT |
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.