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MIRA INFORM REPORT
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Report No. : |
501498 |
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Report Date : |
10.04.2018 |
IDENTIFICATION DETAILS
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Name : |
VULCAN MATERIAL PLASTICO LTDA. EM RECUPERAÇÃO JUDICIAL |
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Registered Office : |
Estrada Do Colégio, 380 - Bairro Do Colégio, 21235-280 - Rio De
Janeiro/Rj |
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Country : |
Brazil |
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Date of Incorporation : |
15.09.1948 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture of plastic products |
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No. of Employees : |
Not available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
D |
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Credit Rating |
Explanation |
Rating Comments |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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Status : |
Under judicial recovery proceedings |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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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Brazil |
A2 |
A2 |
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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 |
BRAZIL - ECONOMIC OVERVIEW
Brazil is the eighth-largest economy in the world, but is recovering from a recession in 2015 and 2016 that ranks as the worst in the country’s history. Falling commodity prices reduced export revenues and investment, which weakened the Brazilian real and cut tax revenues. The weaker real made existing public debt, which was largely denominated in foreign currency, more expensive. Lower tax revenues strained the government budget.
Economic reforms, proposed in 2016, aim to slow the growth of government spending and reduce barriers to foreign investment. Government spending growth helped to push public debt to 78% of GDP at the end of 2017, up from 50% in 2012. Policies to strengthen Brazil’s workforce and industrial sector, such as local content requirements, may have boosted employment at the expense of investment.
Former President Dilma ROUSSEFF was impeached and convicted in August 2016 for moving funds among government budgets; the economy has also been affected by multiple corruption scandals involving private companies and government officials. Sanctions against the firms involved — some of the largest in Brazil — has limited their business opportunities, producing a ripple effect on associated businesses and contractors. In addition, investment in these companies has declined because of the scandals.
Brazil is a member of the Common Market of the South
(Mercosur), a trade bloc including Argentina, Paraguay, Uruguay, and Venezuela.
After the Asian and Russian financial crises, Mercosur adopted a protectionist
stance to guard against exposure to the volatility of foreign markets. Brazil
and its Mercosur partners have pledged to open the bloc to more trade and investment, but changes require approval of
all five members, which makes policy adjustments too difficult to enact.
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Source
: CIA |
Company
name
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VULCAN MATERIAL
PLASTICO LTDA. EM RECUPERAÇÃO JUDICIAL |
ADDRESSES
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MAIN ADDRESS: |
ESTRADA DO COLÉGIO, 380 - BAIRRO DO COLÉGIO |
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ZIP CODE/CITY: |
21235-280 - RIO DE JANEIRO/RJ |
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PHONE: |
NOT AVAILABLE |
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E-MAIL: |
andre.meireles@grupobrascom.com |
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WEB SITE: |
www.vulcan.com.br |
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GIVEN PHONE |
+55 21 3362-2448 |
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CORRECT PHONE |
THE INFORMED NUMBER DOES NOT ANSWER. |
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BRANCHES: |
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ADDRESS: |
AVENIDA MAJOR SYLVIO DE MAGALHÃES PADILHA, 5200 BLOCO B TÉRREO SALAS
1, 2 E 3 - MORUMBI |
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ZIP CODE/CITY: |
05693-000 SÃO PAULO/SP |
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PHONE: |
11 3759-8810 |
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CNPJ: |
33.066.952/0007-52 |
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STATE REGISTER: |
108.430.370.113 |
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ADDRESS: |
RUA SAMIN, 656 - COLÉGIO |
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ZIP CODE/CITY: |
21235-210 RIO DE JANEIRO/RJ |
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ADDRESS: |
RUA HORÁCIO MANLEY LANE, 400 - MARMELEIRO |
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ZIP CODE/CITY: |
18130-770 SÃO ROQUE/SP |
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PHONE: |
11 4784-9000 |
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FAX: |
11 4784-1739 |
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CNPJ: |
33.066.952/0004-00 |
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STATE REGISTER: |
653.116.676.118 |
LEGAL
DATA
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MAIN ACTIVITIES: |
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MANUFACTURE OF PLASTIC PRODUCTS. |
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LEGAL FORM: |
LIMITED
LIABILITY COMPANY |
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INCORPORATION DATE: |
15/09/1948 |
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REGISTER DATE: |
15/09/1948 |
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BALANCE SHEET FILING DATE: |
31/12 |
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TAX CONTRIBUTOR NUMBER(CNPJ): |
33.066.952/0001-67 |
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STATE REGISTER: |
82.071.598 |
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SHARE CAPITAL: |
R$
186.022.795,00 |
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BOARD OF
DIRECTORS: |
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JONAS HIPÓLITO DE ASSIS |
MANAGING PARTNER |
AUTHORIZED
USE OF SIGNATURE
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THE MANAGING PARTNER IS AUTHORIZED TO SIGN ON BEHALF OF THE COMPANY. |
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SHAREHOLDERS /
PARTNERS: |
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ILP PARTICIPAÇÕES S/A |
R$
184.878.721,00 |
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JONAS HIPÓLITO DE ASSIS |
R$ 1.144.074,00 |
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AFFILIATES / SUBSIDIARIES: |
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A SCAN THROUGH OUTSIDE SOURCES SHOWED THE SUBJECT AND/OR DIRECTORS
HAS/HAVE THE FOLLOWING UNCONFIRMED HOLDINGS: |
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NOVA VISÃO GLOBAL LTDA |
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KGF FERRAMENTARIA LTDA |
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METALURGICA DE TUBOS DE PRECISÃO DA AMAZONIA LTDA |
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TRANSAMERICAN CAPITAL PARTICIPAÇÕES E INVESTIMENTOS LTDA |
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METALURGICA QUASAR LTDA EM RECUPERAÇÃO JUDICIAL |
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ACTOS EMPREENDIMENTOS E PARTICIPACOES LTDA |
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EEF CONSULTORIA ECONOMICO FINANCEIRA E PARTICIPAÇÕES |
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LEICHT ASSESSORIA LTDA |
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METALURGICA DE TUBOS DE PRECISAO LTDA EM RECUPERAÇÃO JUDICIAL |
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COMPANY'S
BACKGROUND
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PUBLIC RECORDS
INFORMATION: |
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PROTESTS: |
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56 PROTESTS,TOTAL AMOUNT R$
11.391.437,59 |
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DATE OF FIRST PROTEST:
MARCH/2015 R$ 6.425,15 |
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DATE OF HIGHEST PROTEST:
MARCH/2018 R$ 1.890.772,52 |
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DETAILS OF LATEST PROTESTS: |
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NOTARY OFFICE: |
DATE: |
VALUE: |
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2º CARTÓRIO DE SP-SÃO PAULO |
23/03/2018 |
R$ 2.250,00 |
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2º CARTÓRIO DE SP-SÃO PAULO |
14/03/2018 |
R$ 8.750,00 |
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2º CARTÓRIO DE SP-SÃO PAULO |
14/03/2018 |
R$ 8.500,00 |
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3º CARTÓRIO DE RJ-RIO DE JANEIRO |
16/03/2018 |
R$ 1.890.772,52 |
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2º CARTÓRIO DE SP-SÃO PAULO |
14/03/2018 |
R$ 12.250,00 |
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LAWSUITS: |
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DATE: |
COURT OF LAW: |
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1 |
EXECUTIVE LAWSUIT |
04/05/16 |
44ª VARA DE SP-SP-CENTRAL |
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1 |
MONITORY SUIT |
20/08/13 |
1ª VARA DE SC-XANXERÊ |
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18 |
FEDERAL LAWSUITS |
07/03/18 |
6ª VARA DE RJ-RIO DE JANEIRO |
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5 |
STATE LAWSUITS |
12/02/16 |
1ª VARA DE MG-BELO HORIZONTE |
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1 |
JUDICIAL RECOVERY PETITION |
25/09/14 |
9ª VARA DE SP-GUARULHOS |
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1 |
JUDICIAL RECOVERY ADJUDGED |
13/09/16 |
9ª VARA DE SP-GUARULHOS |
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THE SUBJECT HAS FILED FOR JUDICIAL RECOVERY ON ABOVE MENTIONED DATE.
JUDICIAL RECOVERY IS A VOLUNTARY PROCEEDING WHICH MAY BE ADOPTED BY COMPANIES
WHICH ARE FACING FINANCIAL PROBLEMS AND NEED THE PROTECTION OF BRAZILIAN
BANKRUPTCY LAW BENEFITS IN ORDER TO TRY TO IMPROVE THE FINANCIAL STANDING. THE JUDICIAL RECOVERY UNDER BRAZILIAN BANKRUPTCY LAW IS SIMILAR TO THE
PROCEEDINGS OF CHAPTER 11 OF USA BANKRUPTCY LAW. THE COMPANY SUBJECT TO JUDICIAL RECOVERY IS REQUIRED TO PRESENT
RECOVERY PLAN TO BE APPROVED BY THE MAJORITY OF ITS CREDITORS IN A GENERAL
CREDITORS ASSEMBLY. PROVIDED THE RECOVERY PLAN IS APPROVED BY THE CREDITORS
THE COURT GRANTS THE COMPANY THE RIGHTS OF OPERATING UNDER THE LAW PROTECTION
AND A JUDICIAL ADMINISTRATOR IS APPOINTED TO SUPERVISE THE ACCOMPLISHING OF
THE PAYMENT TERMS AND THE EXECUTION OF THE RECOVERY PLAN AS APPROVED. THE JUDICIAL RECOVERY PROCEEDINGS ARE VERY EFFICIENT TO PROTECT THE
COMPANIES AND TO GRANT THEM POSSIBILITIES TO RECOVERY FROM FINANCIAL PROBLEMS
BUT THE APPROVAL OF THE CREDITORS AND IN-DEEP ACCOMPLISHMENT OF RECOVERY PLAN
IS ESSENTIAL TO MAKE SURE THE COMPANY WILL KEEP THE LAW PROTECTION AS GRANTED
BY THE COURT AND WILL BE SUCCESSFUL IN RECOVERING FROM THE FINANCIAL PROBLEMS
WHICH LEAD IT TO REQUIRE THE JUDICIAL RECOVERY PROCEEDINGS PROTECTION. |
FINANCIAL
INFORMATION
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DUE TO THE SUBJECT'S LEGAL FORM, IT IS NOT OBLIGED TO PUBLISH THE
BALANCE SHEET INFORMATION. WHEN INTERVIEWING SOURCES AT THE SUBJECT COMPANY
DECLINED TO PROVIDE ANY KIND OF FINANCIAL INFORMATION. OUR INVESTIGATION THROUGH THE OUTSIDE SOURCES SHOWED NO FINANCIAL DATA
ABOUT THE SUBJECT. |
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COMMENTS ON THE
FINANCIAL INFORMATION: |
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IN THE ABSENCE OF FINANCIAL INFORMATION NO COMMENTS CAN BE MADE ABOUT
THE SUBJECT'S CURRENT FINANCIAL STANDING. |
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REAL ESTATE: |
NOT AVAILABLE
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VEHICLES: |
NOT AVAILABLE
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MACHINES: |
NOT AVAILABLE
INSURANCE
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NOT AVAILABLE. |
BANKING
REFERENCES
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BRANCH/PHONE: |
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BANCO DO BRASIL S/A |
1914-3 |
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BANCO BRADESCO S/A |
1698-5 / 11 2178-6262 |
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REMARKS: IN BRAZIL THE BANKS ARE PROHIBITED BY LAW TO PROVIDE
INFORMATION OR ANY KIND OF COMMENTS ABOUT THEIR CLIENTS. DUE TO THIS LAW
PROHIBITION WE ARE UNABLE TO PROVIDE ANY BANKING DETAILS. ACCORDING TO THE CENTRAL BANK OF BRAZIL OFFICIAL REPORT, THE COMPANY
HAS NO RETURNED CHECKS UP TO DATE. (IN THE TERMS OF "CIRCULAR 1682
BRAZILIAN CENTRAL BANK"). |
ACTIVITIES
COMMENTS
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SUBJECT IS ENGAGED IN THE MANUFACTURE OF PLASTIC GOODS IN GENERAL. |
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IMPORT AND
EXPORT: |
IMPORTS FROM:
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UNITED STATES, GERMANY AND ITALY. |
EXPORTS TO:
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NOT AVAILABLE. |
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MAIN CLIENTS: |
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DOMESTIC
CLIENTS: |
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PHONE: |
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ACHÉ LABORATÓRIOS FARMACÊUTICO S/A |
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11 6461-6141 |
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BUSCAR ÔNIBUS S/A |
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47 4411-1340 |
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CASA DOS LOTES COM. PLAST. LTDA |
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11 3326-0657 |
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CREDICARD S/A |
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11 3083-7332 |
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INDUSCAR IND. COM. CARROCER LTDA |
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11 2148-8001 |
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KALUNGA COM. E IND. GRÁFICA LTDA |
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11 3414-6455 |
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MIX SÃO PAULO DISTR. DE PLAST. LTDA |
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11 2026-1047 |
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MOTO HONDA DA AMAZÔNIA LTDA |
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11 5576-5024 |
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RICARDO DIAS NEGRI |
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11 3728-4050 |
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SAINT GOBAIN VIDROS S/A |
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11 3882-8700 |
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VINEPLAST EMBALAGEM LTDA |
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47 3332-0557 |
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STAFF: |
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NOT AVAILABLE |
CONCEPT
AND FULFILMENT
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THE SUBJECT IS A COMPANY IN BUSINESS FOR SEVERAL YEARS BUT HAS FACED
FINANCIAL PROBLEMS AND WAS LEAD TO REQUIRE THE PROTECTION OF THE JUDICIAL
RECOVERY PROCEEDINGS UNDER THE BRAZILIAN BANKRUPTCY LAW. THE JUDICIAL RECOVERY PROCEEDINGS ARE CONSIDERED A VERY EFFICIENT WAY
TO THE COMPANIES TO RECOVER FROM FINANCIAL PROBLEMS BUT THE POSITIVE RESULTS
OF THE RECOVERY PLAN CANNOT BE SAFELY ASSURED AND THE RISK OF BANKRUPTCY CAN
STILL EXIST IN SOME CASES. IT ALSO HAS 4 OUTSTANDING DEBTS IN A TOTAL AMOUNT OF R$ 178.173,40. |
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MAIN SUPPLIERS: |
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DOMESTIC
SUPPLIERS: |
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PHONE: |
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BAERLOCHER DO BRASIL S/A |
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19 2108-5400 |
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BRASKEM S.A. |
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11 3576-9547 |
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CENTELHA EQUIP. ELÉTRICOS LTDA |
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21 2195-9200 |
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CIA. BRASILEIRA DE POLIURETANOS LTDA |
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19 3879-9200 |
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DIGIGRAF DISTRIB. COM. E SERVIÇOS LTDA |
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11 5585-5505 |
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ELEKEIROZ S.A |
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11 4596-8960 |
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EXXONMOBIL QUÍMICA LTDA |
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11 3291-8610 |
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FIAÇÃO ALPINA NORDESTE S.A. |
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11 3014-3355 |
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INBRA INDÚSTRIAS QUÍMICAS LTDA |
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11 4061-9002 |
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OBER S/A INDÚSTRIA E COMÉRCIO |
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19 3466-9215 |
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PETROM - PETROQUÍMICA MOGI DAS CRUZES LTDA |
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11 4798-7602 |
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PREVIA FACTORING FOM. MERCANTIL LTDA |
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21 2221-8022 |
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PROLAC COR INDÚSTRIA E COMÉRCIO LTDA |
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11 4654-2475 |
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S.A. FABRIL SCAVONE |
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11 4524-0002 |
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SOLVAY INDUPA DO BRASIL S/A |
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11 4439-8822 |
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VALOR FOMENTO MERCANTIL LTDA |
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21 2277-6400 |
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FOREIGN
SUPPLIERS: |
COUNTRY: |
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BOO YOUNG TEXTILE CO., LTD |
UNITED STATES |
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FAVINI SPA |
ITALY |
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GALATA CHEMICALS GMBH |
GERMANY |
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PAYMENT HISTORY: |
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3 SUPPLIERS REPORTED PAYMENTS: |
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TOTAL AMOUNT: R$ 500.617,00 |
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AMOUNT OF INVOICES PAID: 5 |
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TOTAL OF PROMPT PAYMENTS: 100% |
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HIGHEST INVOICE: R$ 204.900,00 |
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HIGHEST CREDIT: R$ 204.900,00 |
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FINAL
OPINION
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THE SUBJECT IS A COMPANY IN BUSINESS FOR SEVERAL YEARS BUT AS IT IS OPERATING
UNDER JUDICIAL RECOVERY PROCEEDINGS OPERATIONS SHOULD PREFERABLY BE CARRIED
OUT ON SECURED TERMS. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.93 |
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1 |
INR 91.50 |
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Euro |
1 |
INR 79.69 |
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BRL |
1 |
INR 18.98 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
PRI |
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Report Prepared
by : |
SYL |
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
·
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.