MIRA INFORM REPORT

 

 

Report No. :

346871

Report Date :

28.10.2015

 

IDENTIFICATION DETAILS

 

Name :

INDORAMA VENTURES POLYMERS MÉXICO, S. DE R. L. DE C.V.

 

 

Registered Office :

Av. Prolongación Paseo de la Reforma No 1015 Torre A Piso 2 Col. Desarrollo Santa Fe. Del. Alvaro Obregon C.P. México City,  01109

 

 

Country :

Mexico

 

 

Date of Incorporation :

08.05.1975

 

 

Legal Form :

Sociedad Anónima de Responsabilidad de Capital Variable

 

 

Line of Business :

Manufacturer of Plastic Resin & Synthetic Fiber

 

 

No. of Employees :

604

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Good

 

 

Payment Behaviour :

No Complaints

 

 

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

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Mexico

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 

STATUTORY INFORMATION

 

 

 

Order:

INDORAMA VENTURES POLYMERI

Address in the order:

AV PROLONGACIAN PASEO DE LKA REFORMA 1015, ORRE A PISO 2 COL DESARROLLO SANTA FEALVARO OBREGAON

Legal Name:

INDORAMA VENTURES POLYMERS MÉXICO, S. de R. L. de C.V.

Trade Name:

INDORAMA VENTURES POLYMERS MÉXICO 

RFC:

ASP980910UQ9

Date Created:

1975

Date Incorporated:

May 8, 1975

Legal Address:

Av. Prolongación Paseo de la Reforma No 1015 Torre A Piso 2
Col. Desarrollo Santa Fe. Del. Alvaro Obregon C.P.
México City,  01109 Mexico

Operative Address:

Av. Prolongación Paseo de la Reforma No 1015 Torre A Piso 2
Col. Desarrollo Santa Fe. Del. Alvaro Obregon C.P.
México City,  01109 Mexico

Telephone:

52 55 9177 5731

Fax:

52 55 5292 6008

Legal Form:

Sociedad Anónima de Responsabilidad de Capital Variable

Email:

mexico@mx.indorama.net

Registered in:

Mexico

Website:

www.indoramaventures.com.mx

Contact:

Aloke Lohia, President

Staff:

604

Activity:

Plastic Resin & Synthetic Fiber Manufacturing Industry

 

BANKS

BANAMEX

 

 

 

The company does not disclose its banking information

History:

 

 

Indorama Ventures Polymers México, S. De R.L. De C.V. was formerly known as Arteva Specialties, S. De R.l. De C.v. and changed the name to Indorama Ventures Polymers México, S. De R.L. De C.V. in March, 2011. The company is based in México City, Mexico. As of March 2, 2011, Indorama Ventures Polymers México, S. De R.L. De C.V. operates as a subsidiary of Indorama Ventures Public Company Limited.

 

Indorama Ventures Public Company Limited acquired the Arteva PET facility from Invista S.a’ r.l. (formerly DuPont Textiles and Interiors) in March 2011.

 

 

PRINCIPAL ACTIVITY

 

 

Indorama Ventures Polymers México, S. De R.L. De C.V. operates broadwoven fabric mills that manufactures filament polyester that is used in apparel, bed sheets, bedspreads, comforters, carpeting, and rugs.

Products/Services description:

PET Packaging resins
PET Packaging materials

Brands:

RAMAPET®, PERFORMANCE™, Afron®

Sales are:

Wholesae

Clients:

CORPORACION PLASTICA S.A.S.
Colombia

LES ENTREPRISES PLASTECH HAITI
Haiti

COMMERCIAL PLASTICS RECYCLING INC.
USA

AMCOR RIGID PLASTICS ECUADOR SA
Ecuador

Suppliers:

PT INDORAMA SYNTHETICS TBK.
Indonedia

COMPAÑIA IBEROAMERICANA DE PLASTICOS SA
Colombia

Operations area:

National and International

The company imports from

Worldwide

The company exports to

Worldwide

The subject employs

604 employees

Payments:

No Complaints

 

 

LOCATION

 

Headquarters :

Av. Prolongación Paseo de la Reforma No 1015 Torre A Piso 2
Col. Desarrollo Santa Fe. Del. Alvaro Obregon C.P.
México City,  01109 Mexico

Size:

The Mexico PET facility is located in Querétaro, Mexico and has an installed capacity of 478,000 tonnes per annum.

Branches:

The company does not have branches. 

 

 

GROUP STRUCTURE AND SUBSIDIARY COMPANIES

 

Listed at the stock exchange:

NO

Shareholders:

The company is a subsidiary of:

Grupo Indorama Ventures, S. de R.L. de C.V.
Prolongación Paseo De La Reforma No 1015
Ciudad de Mexico, D.F.

Management:

Alfonso Ortiz Olvera, Legal Representative
Aloke Lohia, President
Anand Kumar Agrawal, Financial Manager
José Luis MartíNez Zamora, Credit Manager
Alfonso Terova, Accountant

 

 

FINANCIAL INFORMATION

 

 This is a private company which does not make its financials public. 

 

 

2014 USD

 

Revenue

657 461 000

Net Income

71 189 000

Total Equity

307 721 700

 

 

LEGAL FILINGS

 

 

There are no legal connected to the subject

 

 

SUMMARY

 

Indorama Ventures Polymers México, S. De R.L. De C.V. operates broadwoven fabric mills that manufactures filament polyester that is used in apparel, bed sheets, bedspreads, comforters, carpeting, and rugs.

 

The company has 40 years of experience in the market with a large sized structure.

 

The company belongs to a large group and shows positive profitabiliy. 

 

 

RISK INFORMATION

 

 

DEBTS

Controlled

PAYMENTS

Regular

CASH FLOW

Normal

STATUS

Active

 

 

INTERVIEW

 

 

 

NAME

NA 

POSITION

NA 

COMMENTS

We tried to contact the company but were transferred to the answering machine. We left a message asking to return our call. 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.64.95

UK Pound

1

Rs.99.73

Euro

1

Rs.71.84

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

DPT

 

               

RATING EXPLANATIONS

 

RATING

STATUS

PROPOSED CREDIT LINE

 

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

 

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

 

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

 

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

 

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

 

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

 

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

Credit not recommended

 

--

NB

New Business

--

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.