MIRA INFORM REPORT

Report No. :	504400
Report Date :	21.04.2018

IDENTIFICATION DETAILS

Name :	INDUSTRIAS ELECTRO QUIMICAS S A
Registered Office :	Av. Elmer Faucett Nro. 1920, Aeropuerto II Etapa Callao, Prov. Const. Del Callao
Country :	Peru
Financials (as on) :	31.12.2017
Date of Incorporation :	09.08.1963
Legal Form :	Sociedad Anonima
Line of Business :	Subject engages in the zinc transformation activities in South America
No. of Employees :	459

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 :	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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
Peru	A2	A2

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

PERU - ECONOMIC OVERVIEW

Peru's economy reflects its varied topography - an arid lowland coastal region, the central high sierra of the Andes, and the dense forest of the Amazon. A wide range of important mineral resources are found in the mountainous and coastal areas, and Peru's coastal waters provide excellent fishing grounds. Peru is the world's second largest producer of silver and copper.

The Peruvian economy grew by an average of 5.6% per year from 2009-13 with a stable exchange rate and low inflation. This growth was due partly to high international prices for Peru's metals and minerals exports, which account for 55% of the country's total exports. Growth slipped from 2014 to 2017, due to weaker world prices for these resources. Despite Peru's strong macroeconomic performance, dependence on minerals and metals exports and imported foodstuffs makes the economy vulnerable to fluctuations in world prices.

Peru's rapid expansion coupled with cash transfers and other programs have helped to reduce the national poverty rate by over 35 percentage points since 2004, but inequality persists and continued to pose a challenge for the Ollanta HUMALA administration, which championed a policy of social inclusion and a more equitable distribution of income. Poor infrastructure hinders the spread of growth to Peru's non-coastal areas. The HUMALA administration passed several economic stimulus packages in 2014 to bolster growth, including reforms to environmental regulations in order to spur investment in Peru’s lucrative mining sector, a move that was opposed by some environmental groups. However, in 2015, mining investment fell as global commodity prices remained low and social conflicts plagued the sector.

Peru's free trade policy continued under the HUMALA administration; since 2006, Peru has signed trade deals with the US, Canada, Singapore, China, Korea, Mexico, Japan, the EU, the European Free Trade Association, Chile, Thailand, Costa Rica, Panama, Venezuela, Honduras, concluded negotiations with Guatemala and the Trans-Pacific Partnership, and begun trade talks with El Salvador, India, and Turkey. Peru also has signed a trade pact with Chile, Colombia, and Mexico, called the Pacific Alliance, that seeks integration of services, capital, investment and movement of people. Since the US-Peru Trade Promotion Agreement entered into force in February 2009, total trade between Peru and the US has doubled. President Pedro Pablo KUCZYNSKI succeeded HUMALA in July 2016 and is focusing on economic reforms and free market policies aimed at boosting investment in Peru. Mining output increased significantly in 2016-17, which helped Peru attain one of the highest GDP growth rates in Latin America, and Peru should maintain strong growth in 2018. However, economic performance was depressed by delays in infrastructure mega-projects and the start of a corruption scandal associated with a Brazilian firm. Massive flooding in early 2017 also was a drag on growth, offset somewhat by additional public spending aimed at recovery efforts.

Source : CIA

STATUTORY INFORMATION

Legal Name:

INDUSTRIAS ELECTRO QUIMICAS S A

Trade Names:

IEQ SA

ID:

20100003512

Date Created:

1963

Date Incorporated:

August 9, 1963

Legal Address:

Av. Elmer Faucett Nro. 1920, Aeropuerto II Etapa

Callao, Prov. Const. Del Callao, Perú

Operative Address:

Av. Elmer Faucett No. 1920

Callao,

Peru

Telephone:

51 1 614 4300

Fax:

51 1 572 0118

Legal Form:

Sociedad Anonima

Email:

export@ieqsa.com

Registered in:

PERU

Website:

www.ieqsa.com.pe

Contact:

Raul Alberto Francisco Musso Vento – General Manager

Staff:

459

Activity:

NAICS code 423510 - Metal Service Centers and Other Metal Merchant Wholesalers

Banks:

The company does not disclose its banking details.

History:

The company was founded in 1963 and is based in Callao, Peru.

PRINCIPAL ACTIVITY

Industrias Electro Químicas S.A. engages in the zinc transformation activities in South America

Products/Services description:

The company offers metallurgical zinc derivatives, such as alloys, rolled zinc, calots for the manufacture of zinc-carbon batteries, powders for alkaline batteries, zinc strips for electrochemical applications, letterpress plates, anodes for electroplating, etc. It also provides chemical products comprising zinc oxide. In addition, it offers rolled lead in the form of coils; and lead ingots for automobile batteries, lead welding wire, lead weights, lead tubes, rolled lead sheets, and other products.

Brands:

IEQSA

Sales are:

Wholesale

Clients:

Quintal Venezuela S.A

Industrias Gales Ltda

Industrias Emu S.A.

Ceramica San Lorenzo Industrial De Colombia S.A.

Rolo Arteaga Aguilera/Petrodrill

Us Borax Wilmington Operation

Versatile Materials Inc

Munzing

Spectrum Brands Brasil Ind Com De Bens De Consumo Ltda

A.M.P.E.R.E. Gmbh

Suppliers:

Tejidos Especiales S.A.

Sida S.A.

MTB Recycling

Norkem Bv

Bollina S.R.L.

Operations area:

National and International

The company imports from

COLOMBIA

FRANCE

NETHERLANDS

ITALY

The company exports to

VENEZUELA

COLOMBIA

BOLIVIA

UNITED STATES

BRAZIL

GERMANY

The subject employs

459 employees

Payments:

No Complaints

LOCATION

Headquarters :

Av. Elmer Faucett No. 1920

Callao,

Peru

Comments on Address:

-

Branches:

No other branches were found.

Related Companies:

MONARK (PERÚ) S.A.

Peru

INMOBILIARIA PILCAM S.A.

Peru

INMOBILIARIA AICA S.A.

Peru

DEPISA S.A.

Peru

SIBAT S.A.C.

Peru

GROUP STRUCTURE AND SUBSIDIARY COMPANIES

Listed at the stock exchange:

YES: INDUSTRIAS ELECTRO QUIMICAS S.A. - IEQSA

Market Capital:

8,019,502.20

Shares Oustanding:

13,365,837

Shareholders:

Top Institutional Holders
Holder	Share %
Parma Holdings S.A.	60.00
UMICORE	40.00
Investment Shares
Amount holded Number of Shareholders	Share %
Less than 1% 863	16.36
Between 1%-5% 4	9.23
Between 5%-10% 1	8.32
More than 10% 2	66.09
Total 870	100.00

Management:

Raul Alberto Francisco Musso Vento – GENERAL MANAGER

Carlos Gliksman Latowicka – PRESIDENT OF THE BOARD

Alex Gliksman Goldstein - DIRECTOR

Raúl Alberto Francisco Musso Vento - DIRECTOR

Stephan Raoul Joska Csoma - DIRECTOR

Thomas Hendrik Angel Jansseune - DIRECTOR

FINANCIAL INFORMATION

We attach company’s last financial statements.

LEGAL FILINGS

CASES

No found.

SUMMARY

Founded in 1963, Industrias Electro Quimicas S.A. is an organization in the Metal Service Centers and Other Metal Merchant Wholesalers Industry headquartered in Callao, Peru.

The company has 459 regular employees. It operates nationally and internationally, mainly importing from Colombia, France, Netherlands and Italy.

It is ACTIVE in business with no negative records.

RISK INFORMATION

DEBTS

Controlled

PAYMENTS

No Complaints

CASH FLOW

Normal

STATUS

Active

INTERVIEW

NAME

Mariela

POSITION

Receptionist

COMMENTS

She 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 General Manager.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 66.02
UK Pound	1	INR 92.72
Euro	1	INR 81.45
PEN	1	INR 20.53

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

INFORMATION DETAILS

Analysis Done by :	VAR
Report Prepared by :	TPT

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)

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.