MIRA INFORM REPORT
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Report No. : |
301843 |
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Report Date : |
08.01.2015 |
IDENTIFICATION DETAILS
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Name : |
FIDELITY PAC METALS LTD |
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Registered Office : |
1303 North Service Road East, Unit 1, Oakville, Ontario L6H 1A7 |
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Country : |
Canada |
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Year of Establishment : |
1977 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Distributor of Stainless Steel PVF Products & Stainless &
Aluminum Long Products. |
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No. of Employees : |
20 |
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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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 and address
Company name: FIDELITY PAC METALS LTD
Address: 1303 North Service Road
East, Unit 1, Oakville, Ontario L6H 1A7 - Canada
Telephone: +1
905-842-1700
Fax: +1 905-842-5802
Website: www.fidelitypac.ca
Company
summary
Corporate ID#: ON-001872554
State: Ontario
Judicial form: Corporation – Profit
Date incorporated: May 1,
2012
Date founded: 1977
Stock: -
Value: -
Name of manager: Thomas
POPE
ACTIVITIES & OPERATIONS
History:
Fidelity Stainless Ltd acquired PAC PVF Trade Inc. in 2010, and the
companies merged in 2012.
Fidelity Stainless Ltd was founded in 1991 and PAC PVF Trade Inc. in
1977 to create FIDELITY PAC METALS LTD.
Business:
Fidelity PAC Metals Ltd is a leading master distributor of stainless
steel PVF products & stainless & aluminum long products.
Its stainless Pipe, Valves & Fittings portfolio (PVF), includes
Welded and
seamless pipe & tube, BW fittings, 150# fittings, High pressure
fittings, valves, flanges and more, supported by a cut-to-length
program, same day service and exceptional product knowledge.
Fidelity PAC Metals Ltd was created when Fidelity Stainless and PAC
Trade merged.
Fidelity Stainless, opened in 1991 and PAC trade in 1972.
In 2010, these 2 well-known companies, came together to create Canada's
only master distributor carrying both stainless long products and stainless PVF
under 1-roof.
Fidelity PAC Metals sells exclusively to distributors.
Suppliers include:
TA CHEN STAINLESS PIPE CO., LTD.
NO.125, HSIN TIEN 2ND ST., HSIN-TIE
JENG-TEH, TAINAN, TAIWAN.
S.P UNITED INDUSTRY SDN BHD
741-745 KAWASAN PERUSAHAAN NILAI 71 NEGERI SEMBILAN DARUL KHUSUS MALAYSIA
Staff: 20
Operations & branches:
At the headquarters, we
find a warehouse and office, on 80,000 sq. ft. owned.
SHAREHOLDERS
& MANAGERS
Shareholders:
This is a POPE family owned
and managed company.
Management:
Thomas POPE, President, Director and CEO
Graduate from Humber College, Toronto, Ontario in 1986 with a B.A. in
marketing.
Michael POPE, Vice President and Director.
As far as we know, they are not involved in other local corporations.
Subsidiaries and
partnership:
None
FINANCIALS
In United States and 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 2013 is in the range of USD 10,000,000=
The business is said to be
profitable.
Banks: Royal Bank of Canada
LEGAL
FILINGS
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts
summary:
None