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Report No. : |
319556 |
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Report Date : |
04.05.2015 |
IDENTIFICATION DETAILS
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Name : |
ITN FOOD CORPORATION |
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Registered Office : |
40 Commander Blvd, Toronto, Ontario M1S 3S2 |
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Country : |
Canada |
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Year of Establishment : |
1988 |
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Legal Form : |
Federal Corporation – Profit |
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Line of Business : |
The Company manufactures and/or mills a wide variety of Spice blends,
Chutneys, Pastes, Sweets and Specialty Flours |
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No. of Employees : |
26 |
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 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. 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: ITN FOOD CORPORATION
Address: 40 Commander Blvd,
Toronto, Ontario M1S 3S2 - Canada
Telephone: +1
416-321-2052
Fax: +1 416-321-2063
Website: www.itnfoodcorp.com
Corporate ID#: 3061078
State: Federal
Judicial form: Federal Corporation – Profit
Date incorporated: 08-19-1994
Date founded: 1988
Stock: -
Value: -
Name of manager: Mohamed
Z. ANSARI
Business:
Established in 1988, ITN Food Corporation started as a small family
owned business company importing specialty foods from South Asia and
distributing them throughout Toronto.
Today, ITN Food Corporation through its brands, Minar, Desi, Khasta,
Shan, and others, manufactures dozens of products and distributes them
throughout North America.
The Company manufactures and/or mills a wide variety of Spice blends,
Chutneys, Pastes, Sweets and Specialty Flours.
Foreign suppliers
include:
SHRI NATH LAMINATES PVT LTD
PLOT NO.35/D,IDA KATTEDAN R.R.DISTRICT, HYDERABAD 500 077 INDIA
H ORIENT FOODS CO., LTD.NINGBO
RM 2302/03, KING INTERNATIONAL BUIL NO.345 SOUTH HUANCHENG XI ROAD CHINA
Staff: 26
Operations & branches:
At the headquarters, we
find a warehouse, factory and office, on
51,000 sq. foot, owned.
Shareholders:
This is a family owned and
managed company.
Management:
Mohamed Z. ANSARI is the President, Director
and CEO.
Lateef S. ANSARI is Director.
As far as we know, they are involved in
ITN FOOD CORPORATION USA INC.
9451 Buffalo St
Hamtramck, MI 48212 - USA
In Canada, privately held
corporations are not required to publish any financials.
On a direct call, nobody
accepted to answer our questions.
We sent a fax but no answer
received.
However, sales estimate for
year 2014 is in the range of CAD 8,000,000=
The business is said to be
profitable.
Banks: Scotia Bank
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts
summary:
None