MIRA INFORM REPORT

Report No. :	504223
Report Date :	19.04.2018

IDENTIFICATION DETAILS

Name :	SASUMI ELECTRIC MOTOR SALES INC.
Registered Office :	5620 Kennedy Road, Mississauga ONT L4Z 2A9
Country :	Canada
Financials (as on) :	2016 [Summarized]
Date of Incorporation :	1989
Legal Form :	Private company
Line of Business :	Subject commercializes with Italian manufactured IEC metric motors, along with other Italian made products, such as; EuroMotori Flame Proof Motors, Sacemi Coolant Pumps and the SITI metric line of gearboxes.
No. of Employees :	25

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Good
Payment Behaviour :	Regular
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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
Canada	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
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.

Source : CIA

STATUTORY INFORMATION
Legal Name:	SASUMI ELECTRIC MOTOR SALES INC.
Trade Name:	Lafert Metric Motors LAFERT NA
ID:	124565326
Date Created:	1989
Date Incorporated:	2014-09-13
Legal Address:	5620 KENNEDY ROAD, MISSISSAUGA ONT L4Z 2A9, CANADA
Operative Address:	5620 Kennedy Rd, Mississauga ON L4Z 2A9 CANADA
Telephone:	800 661-6413
Fax:	905 629-2852
Legal Form:	Private company
Email:	sales@lafertna.com
Registered in:	ONTARIO, CANADA
Website:	www.lafertna.com
Contact:	Sean Hickey - President
Staff:	25 Employees
Activity:	SIC CODE: 36 Electronic and other Electrical Equipment and Components, except Computer Equipment
BANKS
The company does not make its banking data public
HISTORY
Lafert NA is located in Mississauga, Ontario-Canada (Toronto) and they have been supplying IEC metric motors to Canada, the United States and Mexico since 1989. In July 1998, Lafert NA received the North American distribution rights to the SITI line of Metric gear reducers, also produced in Italy.
PRINCIPAL ACTIVITY
Lafert NA commercializes with Italian manufactured IEC metric motors, along with other Italian made products, such as; EuroMotori Flame Proof Motors, Sacemi Coolant Pumps and the SITI metric line of gearboxes.
Products/Services description:	Metric Motors Permanent Magnet Metric Motors HPI Permanent Magnet (Stand alone) HPS Standard Efficient Design Motors ST Range High Efficient Design Motors AMH / LAB Range Premium Efficiency Design Motors AMPH / LAB Range Compact Brake Motors (DC coil) MS Range Forced Ventilation Motors AMFV Range Full Size Brake Motors AF & AAF Range 2 Speed Full Size Brake Motors AFB & AAFB Range 2 Speed Motors (1 & 2 windings) FB Range Stainless Steel Motors LA Range (IP56, IP67, IP69K) Single Phase Motors LM / LME / DVE Range Explosion Proof Motors MAK Range Gearboxes Right Angle Gearboxes (IEC) Helical inline Gearboxes (IEC) Bevel Helical Gearboxes (IEC) Speed variators (IEC) Bevel Gearboxes (IEC) Pumps Low-cost replacement PUMPS ideal for: Tool cutting machines Glass grinding tools Printing equipment Industrial applications Flanges & Accessories Standard, Increased & Decreased Flanges for: ST, HE, FB, AAF, MS, LME, DVE, AMFV (up to 132 frame size) Series Motors LAB Series Motors MAK Series Motors Increasing & Reducing Flanges (Call for pricing at 1-800-661-6413)
Brands:	No brands registered
Sales are:	Wholesale
Clients:	Inassa Industrialsa De Cv
Suppliers:	SHANGHAI BETTER ELECTRIC MOTOR CO L TAIZHOU WEITELI MOTORS MOTORS MAKIN Shanghai Himak Electrical
Operations area:	National and International
The company imports from	China
The company exports to	Mexico
The subject employs	25 Employees
Payments:	Regular
LOCATION
Headquarters :	5620 Kennedy Rd Mississauga, ON L4Z 2A9, Canada
Comments:	NA
Branches:	The company does not have branches
Main Competitors	NA
Related Companies:	LAFERT SRL VIA KENNEDY 43 VIA KENNEDY,43 SDONA DI PIAVE 30027 ITALY
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders:	This is a private company. We could not confirm major holders.
Management:	Sean Hickey - President Michael Tough, Director of Sales
FINANCIAL INFORMATION
The company does not make its financial statements public. The following information has been provided by private sources:
USD 2016
Sales	5 590 000
Cash flow	Normal
LEGAL FILINGS
Lawsuits:	No found
OFAC Sanctions List Search:	The company is not listed in the OFAC list.
SUMMARY
Lafert North America is headquartered in Mississauga, Ontario. Lafert North America has a revenue of $5.9M, and 25 employees. It mainly imports from China and exports to Mexico. It is ACTIVE in ONTARIO, CANADA; with no negative records.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	Regular
CASH FLOW	Normal
STATUS	ACTIVE
INTERVIEW
NAME	John
POSITION	NA
COMMENTS	He confirmed name, operative address, legal address, website and email.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.68
UK Pound	1	INR 93.98
Euro	1	INR 81.30
CAD	1	INR 52.21

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	NIY
Report Prepared by :	SYL

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
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)

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