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Report No. : |
353013 |
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Report Date : |
14.12.2015 |
IDENTIFICATION DETAILS
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Name : |
ONTARIO DRIVE & GEAR LIMITED |
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Registered Office : |
220 Bergey Court, New Hamburg, Ontario N3A 2J5 |
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Country : |
Canada |
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Date of Incorporation : |
21.11.1962 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Manufacturer of the ARGO, an Amphibious, Multi-Purpose, All-Terrain Vehicle. Its facility also manufactures platforms for various robotic vehicles including lunar rover prototypes. |
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No. of Employees : |
250 |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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, and electric power, and
a top source of US uranium imports. 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 early intervention by the Bank
of Canada and the financial sector's tradition of conservative lending
practices and strong capitalization. Canada achieved marginal growth in 2010-14
and plans to balance the budget by 2015 despite the recent drop in oil prices.
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 and is the world’s fifth-largest oil producer.
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Source
: CIA |
Company name: ONTARIO DRIVE & GEAR LIMITED
Address: 220 Bergey Court, New Hamburg,
Ontario N3A 2J5 - Canada
Telephone: +1
519-662-4000
Fax: +1
519-662-2421
Website: www.odg.com
Corporate ID#: ON-000524000
State: Ontario
Judicial form: Corporation – Profit
Date incorporated: 07-31-1982
Date founded: 11-21-1962
Stock: -
Value: -
Name of manager: Joerg
STIEBER
Business:
Ontario Drive & Gear Limited is the manufacturer of the ARGO, an
amphibious, multi-purpose, all-terrain vehicle.
Its facility also manufactures platforms for various robotic vehicles
including lunar rover prototypes. ODG addresses the personal utility and
industrial/commercial markets worldwide. ODG's Gear Division specializes in
small to medium run world class quality gear and transmissions.
Its capabilities range from custom design to manufacture, assembly, and
test of its products. The equipment roster represents the latest in CNC gear
manufacturing technology.
No name of foreign suppliers available.
Staff: 250
Operations & branches:
At the headquarters, we
find a factory, warehouse and office, owned.
The Company maintains an
office located:
3551 Bleams Road
New Hamburg, Ontario N3A 2J1
Shareholders:
This is a private Company.
Management:
Michael ECKARDT, former CEO, left the Company in July 2015.
Joerg STIEBER is the Chairman.
Graduate from Technische Universitat Munchen, Germany, in 1979, with a
Diploma in Mechanical Engineering.
Present with the Company since 1985.
Joel WRIGHT is the President.
He joined the Company in 2008 as Gear Manufacturing Manager before
taking over the role of General Manager.
He earned his MBA from Wilfrid Laurier
University, and a B.A.Sc. in Mechanical Engineering from the University of
Waterloo and is a licensed Professional Engineer.
Angelo ESPOSITO is Vice President of Operations.
As far as we know, they are not involved in other local corporations.
Subsidiaries
And partnership: None
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.
However, sales estimate for
year 2014 is in excess of CAD 50,000,000+
The business is profitable.
On September 18, 2015, the
Province of Ontario announced it will partner with the Company and invest CAD
1,000,000= as help to create 35 new jobs.
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
Trade references:
Date reported: November 2015
High credit: CAD 30,000
Now owing: 0
Past due: 0
Last purchase: October 2015
Line of business: Office supply
Paying status: On terms
Date reported: November 2015
High credit: CAD 300,000
Now owing: 0
Past due: 0
Last purchase: October 2015
Line of business: Payroll
Paying status: As agreed
Date reported: November 2015
High credit: USD 520
Now owing: 0
Past due: 0
Last purchase: October 2015
Line of business: Telecommunications
Paying status: On terms
Domestic credit history:
National Credit Bureaus
gave a satisfying credit risk.
According to our credit analysts, during the last 6 months, domestic
payments were made on due date.
Other comments:
The Company is developing a
strong business worldwide.
The Company is in good
standing.
This means that all local
and federal taxes were paid on due date.
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.66.79 |
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|
1 |
Rs.101.10 |
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Euro |
1 |
Rs.73.10 |
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CAD |
1 |
Rs.48.80 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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KAS |
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Report Prepared
by : |
TPT |
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.