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MIRA INFORM REPORT
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Report No. : |
493007 |
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Report Date : |
19.02.2018 |
IDENTIFICATION DETAILS
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Name : |
FAMIQ S.R.L. |
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Registered Office : |
San Martin Av. 4723 1417-Ciudad Autonoma
Buenos Aires |
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Country : |
Argentina |
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Date of Incorporation : |
27.11.1986 |
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Legal Form : |
Sociedad Anónima |
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Line of Business : |
Subject is a company specialized in the
production and commercialization of stainless steel coils and sheets, tubes, pipes
and fittings. |
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No. of Employees : |
350 |
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+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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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Argentina |
B2 |
B2 |
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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 |
ARGENTINA - ECONOMIC OVERVIEW
Argentina benefits from rich natural resources, a highly literate
population, an export-oriented agricultural sector, and a diversified
industrial base. Although one of the world's wealthiest countries 100 years
ago, Argentina suffered during most of the 20th century from recurring economic
crises, persistent fiscal and current account deficits, high inflation,
mounting external debt, and capital flight. In 2016, the World Bank downgraded
Argentina from a high-income to upper-middle-income economy, on par with
Columbia.
A severe depression, growing public and external indebtedness, and an
unprecedented bank run culminated in 2001 in the most serious economic, social,
and political crisis in the country's turbulent history. Interim President
Adolfo RODRIGUEZ SAA declared a default - at the time the largest ever - on the
government's foreign debt in December of that year, and abruptly resigned only
a few days after taking office. His successor, Eduardo DUHALDE, announced an
end to the peso's decade-long 1-to-1 peg to the US dollar in early 2002. The
economy bottomed out that year, with real GDP 18% smaller than in 1998 and
almost 60% of Argentines below the poverty line. Real GDP rebounded to grow by
an average 8.5% annually over the subsequent six years, taking advantage of
previously idled industrial capacity and labor, and expansionary monetary and
fiscal policies. Inflation also increased, however, during the administration
of President Nestor KIRCHNER, which responded with price restraints on
businesses, as well as export taxes and restraints, and beginning in 2007, with
understating inflation data.
Cristina FERNANDEZ DE KIRCHNER succeeded her husband as president in
late 2007, and the rapid economic growth of previous years began to slow
sharply the following year as government policies held back exports and the
world economy fell into recession. The economy in 2010 rebounded strongly from
the 2009 recession, but slowed in late 2011 even as the government continued to
rely on expansionary fiscal and monetary policies, which kept inflation in the
double digits.
In order to deal with these problems, the government expanded state
intervention in the economy: it nationalized the oil company YPF from Spain's
Repsol, expanded measures to restrict imports, and further tightened currency
controls in an effort to bolster foreign reserves and stem capital flight.
Between 2011 and 2013, Central Bank foreign reserves dropped $21.3 billion from
a high of $52.7 billion. In July 2014, Argentina and China agreed on an $11 billion
currency swap; the Argentine Central Bank has received the equivalent of $3.2
billion in Chinese yuan, which it counts as international reserves.
With the election of President Mauricio MACRI in November 2015,
Argentina began a historic political and economic transformation, as his
administration took steps to liberalize the Argentine economy, lifting capital
controls, floating the peso, removing export controls on some commodities,
cutting some energy subsidies, and reforming the country’s official statistics.
Argentina negotiated debt payments with holdout bond creditors and returned to
international capital markets in April 2016. In September 2016, Argentina
completed its first IMF Article IV Consultation since 2006.
After years of international isolation, Argentina has taken on several
international leadership roles in 2017, including hosting the World Economic
Forum on Latin America and the World Trade Organization Ministerial Conference,
and is set to assume the presidency of the G-20 in 2018.
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Source
: CIA |
STATUTORY INFORMATION
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Legal Name: |
FAMIQ S.R.L. |
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Trade Name: |
FAMIQ
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CUIT: |
30-53806884-1 |
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Date Created: |
1986 |
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Date Incorporated: |
27/11/1986 |
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Legal Address: |
San Martin Av. 4723 1417-Ciudad Autonoma Buenos
Aires |
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Operative Address: |
San Martin Av 4723, Capital Federal (1417),
Capital Federal, Argentina |
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Telephone: |
54 261 4979603 / 54 261 4978547 / 54 261
4978218 |
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Fax: |
54 261 4979603 |
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Legal Form: |
Sociedad Anónima |
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Email: |
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Registered in: |
Agencia Nro 2, Avenida De Los
Constituyentes N° 5833 |
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Website: |
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Contact: |
Carlos Alberto Esparrica |
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Staff: |
350 |
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Activity: |
Steel Service Centers & Other Metal
Wholesalers Industry |
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BANKS |
According to Argentinian Central Bank, the
company maintains credit lines with the following banks: |
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BANK |
AMOUNT IN AR$ |
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BANCO DE GALICIA Y BUENOS AIRES S.A. |
26141 |
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INDUSTRIAL AND COMMERCIAL BANK OF CHINA |
57508 |
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BANCO ITAU ARGENTINA S.A. |
41242 |
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BANCO PATAGONIA S.A. |
40346 |
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BANCO MACRO S.A. |
7 |
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BANCO CREDICOOP COOPERATIVO LIMITADO |
16 |
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BANCO SUPERVIELLE S.A. |
25000 |
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According to the classification of banking
relations of Argentina, |
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There are no rejected checks |
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History: |
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In the mid-fifties, in Lujan, a city in the
Province of Buenos Aires, the merge between a car workshop and a group of
metallurgical engineers gave birth to ASYCO-METAL, Famiq’s first ancestor,
dedicated to the manufacture and installation of special equipment for the
food and textile industrial plants of the area. Their first products were
tanks, reactors, drying sheds and dyeing vats in cotton factories, and vats
for the production of cheese and dairy usins. |
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PRINCIPAL ACTIVITY
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FAMIQ is a company specialized in the production
and commercialization of stainless steel coils and sheets, tubes, pipes and
fittings. |
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Products/Services description: |
Piping products
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Brands: |
FAMIQ |
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Sales are: |
Wholesale |
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Clients: |
Inpasa SA Paraguay ENGINEERING S.A. Paraguay Torres Ramirez Lauren Deisi Paraguay INGENIO AZUCARERO GUABIRA S.A. Bolivia |
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Suppliers: |
NA |
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Operations area: |
National and International |
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The company imports from |
No imports records |
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The company exports to |
Colombia, Paraguay, Ecuador |
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The subject employs |
350 employees |
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Payments: |
Regular-made on a 45 day basis monitored over
the last 6 months. Soucre: BCRA Banco Central de la República Argentina |
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LOCATION
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Headquarters : |
San Martin Av 4723, Capital Federal (1417),
Capital Federal, Argentina |
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Branches: |
Av. Francia
1996 |
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GROUP STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the stock exchange: |
NO |
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Capital: |
$ 60.175.700 |
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Shareholders: |
This is a
private company. Major holders are: |
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Management: |
Carlos Alberto Esparrica, PRESIDENT |
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FINANCIAL INFORMATION
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This is a private company which does not make its financials public.
The following information has been provided by our private sources: |
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AR$ 2015 |
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Assets: |
$
433.006.701 |
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Liabilities: |
$
224.826.892 |
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Total Equity:
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$
208.179.809 |
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Anual Exports FOB DOLLAR |
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2017 |
250,312 |
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2016 |
521,989 |
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2015 |
759.847 |
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2014 |
1.597.668 |
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2013 |
1.732.122 |
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2012 |
2.774.264 |
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2011 |
7.310.298 |
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LEGAL FILINGS
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By provision of the Judge of the Civil and
Commercial Court of First Instance of the Sixth Nomination of Judicial
District No. 1, it is made known that in the file: "FAMIQ S.R.L. c /
TECNOARGENTINA S.A. (1) Declare the bankruptcy of Tecnoargentina SA, inscribed
in the Public Registry of Commerce at T ° 11, F No. 957, No. 714 (file No.
3499), with legal address at Calle Alberdi 5567 in the city of Santa Fe and
with its activities in Lot 70/71 of the Industrial Park of the town of Sauce
Viejo. shall communicate to the National Registry of Contests and
Bankruptcies, the Local Insolvency Registry, the Public Registry of Commerce,
the other Provincial Registers and the Provincial Revenue Office |
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SUMMARY
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FAMIQ is a company specialized in the production
and commercialization of stainless steel coils and sheets, tubes, pipes and
fittings. The company has 30 years of experience in
the market with a medium-large sized structure. It shows regular payment behavior with
several open credit lines with national financial institutions. The company increased its capital in 2012. There are no negative records connected to
the subject. |
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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 |
Lorena |
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POSITION |
Assistant |
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COMMENTS |
She confirmed name, CUIT, management,
experience, staff and activity. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.90 |
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1 |
INR 90.31 |
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Euro |
1 |
INR 80.17 |
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ARS |
1 |
INR 3.26 |
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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DIV |
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Report Prepared
by : |
TPT |
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.