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Report No. : |
306712 |
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Report Date : |
16.02.2015 |
IDENTIFICATION DETAILS
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Name : |
LINCOLN ELECTRIC
COMPANY OF |
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Registered Office : |
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Country : |
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Date of Incorporation : |
30.12.1930 |
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Legal Form : |
Limited Partnership |
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Line of Business : |
· Engaged as importer, wholesaler and distributor of Arc Welding Products, Robotic Welding Systems, and Plasma as well as Oxyfuel Cutting Equipment’s. Subject
also Provides Welder and Generator for Construction Contractors, Maintenance
Crews, Farmers, and Ranchers. Subject
products ranges include Welders, Wire Feeders, Welding Consumables, Fume
Extraction Systems, Guns and Torches, Fixed Table Systems, and Electrodes, as
well as Gas and Medical Equipment and accessories.
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No of Employees : |
300+ |
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
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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 |
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: LINCOLN ELECTRIC COMPANY OF CANADA LP
Address: 179 Wicksteed Avenue, Toronto, Ontario M4G 2B9 - Canada
Telephone: +1 416-421-2600
Fax: +1 416-421-3065
Website: www.lincolnelectric.ca
Corporate ID#: ON-002018659
State: Ontario
Judicial form: Limited Partnership
Date incorporated: 11-19-2002
Date founded: 12-30-1930
Name of
manager: Joseph G. DORIA
Business:
The Company is importer wholesaler and distributor of arc welding products, robotic welding systems, and plasma as well as oxyfuel cutting equipment’s.
The company’s products include welders, wire feeders, welding consumables, fume extraction systems, guns and torches, fixed table systems, and electrodes, as well as gas and medical equipment and accessories.
It also provides welder and generator for construction contractors, maintenance crews, farmers, and ranchers.
Staff: 300+
Operations & branches:
At the
headquarters, we find warehouse and office, owned.
The Company
maintains branches located:
939 Gana Court
Mississauga, Ontario L5S 1N9
#6 - 5925 12th Street
S.E. Calgary, AB T2H 2M3
1239 Manahan Avenue
Winnipeg, MB R3T 5S8
Shareholders:
LINCOLN ELECTRIC HOLDINGS, INC.
22801 Saint Clair Avenue, Cleveland, OH 44117
Lincoln Electric Holdings, Inc., through its subsidiaries, engages in the design, manufacture, and sale of welding, cutting, and brazing products worldwide. Its welding products include arc welding power sources, wire feeding systems, robotic welding packages, fume extraction equipment, consumable electrodes, and fluxes; and computer numeric controlled plasma and oxy-fuel cutting systems, and regulators and torches used in oxy-fuel welding, cutting, and brazing. The company also offers brazing and soldering alloys. It serves various markets, such as general metal fabrication, power generation and process industry, structural steel construction, heavy equipment fabrication, shipbuilding, automotive, pipe mills and pipelines, and offshore oil and gas exploration and extraction. The company sells its products directly to users of welding products, as well as through industrial distributors, retailers, and agents.
Lincoln Electric Holdings, Inc. was founded in 1895 and is headquartered in Cleveland, Ohio.
The Company is listed with the Nasdaq under symbol LECO.
Management:
Michael WHITEHEAD has been President of Lincoln Electric Company of Canada LP since January 1, 2015. He replaced Joseph G. DORIA.
Mr. Whitehead served as Chief Counsel of Intellectual Property of Lincoln Electric Holdings Inc. since September 2005.
Mr. Whitehead has the responsibility for managing Lincoln Electric's global intellectual property and related issues. He served as Director of New Product Development in Consumables R&D at Lincoln Electric since 2011.
Mr. Whitehead served at Calfee, Halter and Griswold LLP, where he was a Patent Attorney with its intellectual property practice in its Cleveland office. Prior to Calfee, he was a Patent Counsel at Sughrue Mion, LLP, a Washington, D.C.-based law firm specializing in intellectual property.
He has a Bachelor of Science degree in Electrical Engineering from Ohio State University and a Juris Doctor degree from New Hampshire University School of Law. He completed the Advanced Executive Program at Kellogg School of Management at Northwestern University and has LLB from Franklin Pierce University.
James SUTCLIFFE, Director of Finance
Dale MALCOLM, Vice President Sales Canada
In Canada, privately
held corporations are not required to publish any financials.
On a direct
call, a financial assistant controlled the present report and confirmed that
all financials are consolidated into the parent company, which reported the
following:
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Currency in |
As of: |
Dec 31 |
Dec 31 |
Dec 31 |
Dec 31 |
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REVENUES |
2,070.2 |
2,694.6 |
2,853.4 |
2,852.7 |
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NET INCOME |
130.2 |
217.2 |
257.4 |
293.8 |
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Banks: Scotia Bank
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: Several
Trade references:
Date
reported: January 2015
High
credit: CAD 15,000
Now owing: 0
Past due: 0
Last
purchase: December 2014
Line of
business: Office supply
Paying
status: On terms
Date
reported: January 2015
High
credit: CAD 400,000
Now owing: 0
Past due: 0
Last
purchase: December 2014
Line of
business: Payroll
Paying
status: As agreed
Date
reported: January 2015
High
credit: CAD 1,000
Now owing: 0
Past due: 0
Last
purchase: December 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.
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.62.14 |
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UK Pound |
1 |
Rs.95.78 |
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Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
MNL |
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.