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MIRA INFORM REPORT
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Report No. : |
501858 |
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Report Date : |
06.04.2018 |
IDENTIFICATION DETAILS
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Name : |
GEORGE COUREY INC |
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Registered Office : |
2100-1080 Côte Du Beaver Hall, Montréal (Québec) H2Z1S8 |
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Country : |
Canada |
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Financials (as on) : |
2016 |
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Year of Establishment : |
1910 |
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Legal Form : |
Société Par Actions Ou Compagnie |
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Line of Business : |
· Textile Goods, NEC · Yarn Spinning Mills · Wholesale of Linen. · The company offers linens for the hospitality and healthcare industries. |
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No. of Employees : |
90 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
CANADA - ECONOMIC OVERVIEW
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. Canada has a large oil and natural gas sector with the majority of crude oil production derived from oil sands in the western provinces, especially Alberta. Canada now ranks third in the world in proved oil reserves behind Venezuela and Saudi Arabia and is the world’s sixth-largest oil producer.
The 1989 Canada-US Free Trade Agreement and the 1994 North American Free Trade Agreement (which includes Mexico) dramatically increased trade and economic integration between the US and Canada. Canada and the US enjoy the world’s most comprehensive and highly balanced bilateral trade and investment relationship, with merchandise trade of $544 billion in 2016, services trade of over $80 billion, and two-way investment stocks of nearly $700 billion. Over three-fourths of Canada’s exports are destined for the US each year. Canada is the largest foreign supplier of energy to the US, including oil, natural gas, and electric power, and a top source of US uranium imports.
Given its abundant natural resources, highly skilled labor force, and modern capital stock, Canada enjoyed solid economic growth from 1993 through 2007. The global economic crisis of 2007-08 moved the Canadian economy into sharp recession by late 2008, and Ottawa posted its first fiscal deficit in 2009 after 12 years of surplus. Canada's major banks 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. Since the fall in world oil prices in 2014, Canada has achieved modest economic growth.
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Source
: CIA |
STATUTORY
INFORMATION
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Legal Name: |
GEORGE COUREY INC |
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Trade Names: |
GEORGE COUREY INC |
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ID: |
1142348219 |
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Date Created: |
1910 |
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Date Incorporated: |
1995-02-06 |
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Legal Address: |
2100-1080 côte du Beaver Hall Montréal (Québec) H2Z1S8 Canada |
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Operative Address: |
6620 rue Ernest-Cormier Laval (Québec) H7C2T5 Canada |
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Telephone: |
450-661-6620/ 1-800-361-1087 |
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Fax: |
450-665-3384 |
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Legal Form: |
Société par actions ou compagnie |
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Email: |
service@georgecourey.com |
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Registered in: |
CANADA |
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Website: |
www.georgecourey.com |
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Contact: |
Ronald Courey - President |
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Staff: |
90 |
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Activity: |
SIC Code 2299, Textile
Goods, NEC NAICS Code 313111, Yarn
Spinning Mills |
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Banks
The company does not disclose its banking details. |
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History
The company was founded in 1910. |
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Parent Company: |
The major holder of this company is: 6620 rue Ernest-Cormier Laval (Québec) H7C2T5 Canada |
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PRINCIPAL
ACTIVITY
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George Courey Inc. is dedicated to the wholesale of Linen. |
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Products/Services description: |
The company offers linens for the hospitality and healthcare
industries. |
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Brands: |
COURTEX GEORGE COUREY PROTECTION 2000 PROTECTION PLUS |
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Sales are: |
Wholesale |
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Clients: |
Hospitality and Healthcare Industries |
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Suppliers: |
Welfull Group Co., Ltd Beijing Hestia Trading Co., Ltd. Shanghai Songhai Industrial Trading Qinhuangdao Leili Co.,ltd Mark Terry Ltd. Premier 1888 Ltd |
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Operations area: |
National |
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The company imports from |
CHINA BANGLADESH |
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The subject employs |
90 employees |
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Payments: |
Regular |
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LOCATION
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Headquarters : |
6620 rue Ernest-Cormier Laval (Québec) H7C2T5 Canada |
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Comments on Address: |
The address given in the order is a branch location. |
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Branches: |
Toronto 7500 Highway 27, Unit 23A Vaughan, ON L4H 0J2, Canada Calgary #30-5251, 48 Ave. SE Calgary, AB T2B 3S2, Canada |
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Related Companies: |
United States Robert Courey Sales Development |
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GROUP STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the stock exchange: |
NO |
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Capital: |
NA |
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Shareholders: |
The major holder of this company is: 6620 rue Ernest-Cormier Laval (Québec) H7C2T5 Canada |
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Management: |
Ronald Courey – President Gerald Courey – Vice President Michael Courey - Vice President |
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FINANCIAL
INFORMATION
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The company does not make its financial statements
public. The following information has been provided by private sources: |
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USD 2016 |
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Revenue |
9.640.000 |
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Cash flow |
Normal |
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LEGAL
FILINGS
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GOVERNMENT CONTRACTS |
No found. |
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CASES |
Martin c. Georges Courey inc., 2006 CanLII 2418 (QC SAT) Date : 2006-01-17 Numéro de dossier : 170304 Référence : Martin c.
Georges Courey inc., 2006 CanLII 2418 (QC SAT),
<http://canlii.ca/t/1mh00>, consulté le 2018-04-04 |
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RENEWAL HISTORY |
Type of document Date of filing Current update statement 2018-01-09 2016 ANNUAL UPDATE DECLARATION 2017-06-28 2015 ANNUAL UPDATE STATEMENT 2016-06-16 Current update statement 2016-04-14 Certificate of Amendment 2016-03-16 Certificate of Amendment 2015-11-30 2014 ANNUAL UPDATE STATEMENT 2015-05-21 Current update statement 2015-01-05 |
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OFAC Sanctions List Search |
The company is not listed in the OFAC list. |
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SUMMARY
Founded in 1910, George Courey Inc. is an organization in the Yarn Spinning
Mills Industry headquartered in Quebec, Canada. The company has 90 regular employees and generates an estimated $9.6
million USD in annual revenue. The company operates nationally, mainly importing from China and
Bangladesh. It is ACTIVE in business with no negative records. |
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RISK
INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
Regular |
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CASH FLOW |
Normal |
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STATUS |
Active |
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INTERVIEW
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NAME |
Jeff |
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POSITION |
Operations |
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COMMENTS |
He confirmed the name of the company, the address of the headquarters
and location, the date of creation of the company, the number of employees
and the name of the President. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.06 |
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1 |
INR 91.50 |
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Euro |
1 |
INR 79.78 |
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CAD |
1 |
INR 50.85 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIY |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low risk
of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably on
secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the business
is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
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Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.