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Report No. : |
333271 |
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Report Date : |
28.07.2015 |
IDENTIFICATION DETAILS
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Name : |
INTERTAPE POLYMER INC. |
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Registered Office : |
800 Place Victoria, Ste 3700, Montreal, Quebec H4Z 1E9 |
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Country : |
Canada |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
15.01.1990 |
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Legal Form : |
Federal Corporation A Federal Corporation is allowed to do business in all the country. |
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Line of Business : |
·
Subject develops, manufactures, and sells
packaging products in Canada, the United States, and internationally. ·
Subject offers paper and film based tapes,
including carton sealing tapes, such as hot melt, acrylic, natural rubber,
and water-activated tapes; and industrial and specialty tapes comprising
paper, flatback, duct, double-coated, foil, electrical and electronic, and
filament tapes, as well as stencil products. |
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No. of Employees : |
2,500 (For The Group) |
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 – 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: INTERTAPE POLYMER INC.
Reg. address: 800 Place Victoria, Ste 3700,
Montreal, Quebec H4Z 1E9 Canada
Headquarters: 9999 Bld Cavendish A, Ste 200,
Saint-Laurent, Quebec H4M 2X5 - Canada
Telephone: +1
514-731-7591
Fax: +1
514-731-5039
Website: www.intertapepolymer.com
Corporate ID#: 2612119
State: Federal
Judicial form: Federal Corporation
A
Federal Corporation is allowed to do business in all the country.
Date founded: 01-15-1990
Stock: -
Value: -
Name of manager: GREGORY
A. YULL
Business:
Intertape Polymer Inc. develops, manufactures, and sells packaging
products in Canada, the United States, and internationally.
It offers paper and film based tapes, including carton sealing tapes,
such as hot melt, acrylic, natural rubber, and water-activated tapes; and
industrial and specialty tapes comprising paper, flatback, duct, double-coated,
foil, electrical and electronic, and filament tapes, as well as stencil
products.
The company sells its tape products to industrial distributors and
retailers under the Intertape, Central, American, Anchor, and Crowell brands,
as well as to third parties under private brands.
It also provides polyethylene and specialized polyolefin films, such as
shrink films, stretch wraps, and air pillows under the SuperFlex, StretchFlex,
ExlfilmPlus, Exlfilm, and iCushion brands to industrial distributors and retailers,
as well as to third parties under private brands; and packaging systems under
the Interpack brand name for use in production lines at the packaging level,
and fulfillment industries.
In addition, the company offers woven coated fabrics, such as building
and construction products comprising lumber wraps, membrane structure fabrics,
and roof underlayment; agro-environmental products comprising geomembrane
fabrics, hay wraps, and poultry fabrics; specialty fabrics; industrial
packaging products; and flexible intermediate bulk containers to end-users in
various industries, including lumber, construction, and agriculture industries.
Further, it provides carton closing systems, including automatic and
semi-automatic carton sealing equipment.
The company markets its products through a network of paper, packaging,
and industrial distributors.
Staff: 2,500 (for the group)
Operations & branches:
At the headquarters, we
find the corporate headquarters.
The group maintains manufactures located:
50 Abbey Avenue,
Truro, Nova Scotia B2N 6W4
Ph: 902-895-1686
Fx: 902-893-4790
1201 Spense Avenue
Hawkesbury, Ontario K6A 3T4
Ph: 6013-632-0115
and a distribution center:
369 Elgin Street
Brantford, Ontario N3S 7P5
Ph: 519-759-2500
The Company as no branch located
333 Bay Street, Ste 2900,
Bay Adelaide, Ontario M5H 2T4
Shareholders:
Major shareholder:
INTERTAPE POLYMER GROUP
INC.
Public Company listed with the Toronto Stock Exchange under symbol ITG
2nd shareholder:
IPG (US) INC.
Incorporated in Delaware, USA
Management:
Gregory A. C. YULL has been the Chief Executive Officer and President of
Intertape Polymer Group Inc. (IPG) since June 8, 2010.
Mr. Yull served as the President of Tapes & Films of Intertape
Polymer Group Inc. from October 2005 to June 2010, where he was responsible for
the North American and European operations spanning 15 locations and providing
leadership for a 1500 person workforce. He served as the President of
Distribution Products at Intertape Polymer Group Inc. since October 2005 and
served as its President of Film Products since June 1999 and served as its
Products Manager of Films since 1995. He served as an Executive Vice President
of Industrial Business Unit at Intertape Polymer Group Inc. since November
2004. He has held various positions at Intertape in Sales and Product
Management and has extensive functional responsibilities supporting the Fibope
business division.
Mr. Yull has been a Director of Intertape Polymer Group Inc. since
August 2, 2010 and previously served as its Executive Director.
Trevor ARTHURS is Vice President and Director.
Charmaine MARTIN is Secretary.
There are involved in other corporations of the group in Canada and U.S.
On a direct call, a financial
assistant controlled the present report.
All financials are
consolidated into the parent company.
(2014 annual report on
attachment)
Banks: HSBC Bank
Royal Bank of Canada
...
Legal filings & complaints: None
Secured debts summary: None
According to our credit analysts, during the last 6 months, all payments
were prompt and regular.
The Company is in good
standing.
This means that all local
and federal taxes were paid on due date.
Last report was filed on
02-24-2015.
The risk is low.
Our opinion:
A business connection may
be conducted.
However, we suggest you a
report on the parent company.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.64.00 |
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1 |
Rs.99.43 |
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Euro |
1 |
Rs.70.61 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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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.