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Report No. : |
321259 |
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Report Date : |
12.05.2015 |
IDENTIFICATION DETAILS
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Name : |
WIPECO INDUSTRIES INC. |
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Registered Office : |
3700 Rue St-Patrick, Ste 201, Montreal, Quebec H4E 1A2 |
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Country : |
Canada |
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Date of Incorporation : |
25.04.1986 |
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Legal Form : |
Federal Corporation – Profit |
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Line of Business : |
Manufactures, Imports, Exports and Sells Wipes, Rags, Gloves, Car Care
Products, Paint Sundries, and More. |
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No. of Employees : |
45 |
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 : |
Slow but correct |
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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
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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.
|
Source
: CIA |
Company name: LES INDUSTRIES WIPECO INC. (in French)
WIPECO
INDUSTRIES INC. (in English)
Address: 3700
Rue St-Patrick, Ste 201, Montreal, Quebec H4E 1A2 Canada
Telephone: +1
514-935-2551
Fax: +1 514-935-6653
Website: www.wipe-it.ca
Corporate ID#: 2047811
State: Federal
Judicial form: Federal
Corporation – Profit
Date incorporated: 04-25-1986
Stock: -
Value: -
Name of manager: JONATHAN KAUFMAN
Business:
The Company manufactures, imports, exports and sells wipes, rags,
gloves, car care products, paint sundries, and more.
Sells its products under the following business names:
- Chiffons Standard
- Chiffons Utilite
- Industries Wipeco
- Corporation Copnick
- Chiffons de l’Ontario
- Spillcon
- Standard Wipers
…
Foreign suppliers include:
HANGZHOU JEENOR CLEANING SUPPLES CO
RM 801, NEW CITY SQUARE OF DINGQIAO ZHEJIANG CHINA
PAK SAFETY TEX
STREET # 2 SHAMSAB OPP: CRESCENT SUGAR MILLS, FAISALABAD PAKISTAN
Staff: 45
Operations & branches:
At the headquarters, we
find a workshop, warehouse and office.
The Company maintains a
branch located:
2424 Finch Avenue West,
Unit 6
Toronto, Ontario M9M 2E3
Shareholders:
1st shareholder:
(+50%)
TEXTILES DENNY INC.
3700 Rue St-Patrick, Ste 201, Montreal, Quebec H4E 1A2
2nd shareholder:
7329113 CANADA INC.
1062 Rue Richmond, Montreal, Quebec H3K 2G9
3rd shareholder:
7526440 CANADA INC.
117 Chemin Cragmore, Pointe Claire, Quebec H9R 3K7
Management:
Jonathan KAUFMAN, President, Director and CEO.
Mark BABIN, Vice President
Stephen REISS, Secretary and Treasurer
Subsidiaries
And partnership: None
In Canada, privately held
corporations are not required to publish any financials.
On a direct call, a
financial assistant controlled the present report.
Sales declared for year
2014 is in the range of CAD 18,000,000=
The business is profitable.
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: April 2015
High credit: CAD 6,000
Now owing: 0
Past due: 0
Last purchase: March 2015
Line of business: Office supply
Paying status: On terms
Date reported: April 2015
High credit: CAD 60,000
Now owing: 0
Past due: 0
Last purchase: March 2015
Line of business: Payroll
Paying status: As agreed
Date reported: April 2015
High credit: CA 500
Now owing: 0
Past due: 0
Last purchase: March 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.
International credit history:
Payments of imports are currently made with an average of 2 to 5 days
beyond terms.
The Company is improving
its payments, but the cash is low, due to high inventories and bad conditions
of the market.
Payments of imports are currently made on terms.
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.
Last report was filed on
May 4, 2015.
The risk is low.
Our opinion:
A business connection may
be conducted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.85 |
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|
1 |
Rs.98.47 |
|
Euro |
1 |
Rs.71.51 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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.