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MIRA INFORM REPORT
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Report No. : |
493522 |
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Report Date : |
26.02.2018 |
IDENTIFICATION DETAILS
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Name : |
GELCO S.A.S |
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Registered Office : |
Carrera 42 No. 2 – 100, Barranquilla |
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Country : |
Colombia |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
17.03.1966 |
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Legal Form : |
Sociedades Por Acciones Simplificadas Sas |
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Line of Business : |
Subject is a mid-sized organization
in the organic chemicals manufacturers industry located in Barranquilla,
Colombia. |
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No. of Employees : |
125 |
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 : |
No Complaints |
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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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Colombia |
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 |
COLOMBIA - ECONOMIC OVERVIEW
Colombia heavily depends on energy and mining exports, making it
vulnerable to fluctuations in commodity prices. Colombia is Latin America’s fourth
largest oil producer and the world’s fourth largest coal producer, third
largest coffee exporter, and second largest cut flowers exporter. Colombia’s
economic development is hampered by inadequate infrastructure, poverty,
narcotrafficking, and an uncertain security situation, in addition to
dependence on primary commodities.
Colombia’s economy slowed in 2017 because of falling global oil prices
and lower oil production due to insurgent attacks on pipeline infrastructure.
Although real GDP growth averaged 4.7% during the past decade, it fell to an
estimated 1.8% in 2017. Declining oil prices also have contributed to reduced
government revenues. In 2016, oil revenue dropped below 4% of the federal
budget and likely remained below 4% in 2017. A Western credit rating agency in
December 2017 downgraded Colombia’s sovereign credit rating to BBB-, because of
weaker-than-expected growth and increasing external debt. Colombia has
struggled to address local referendums against foreign investment, which have slowed
its expansion, especially in the oil and mining sectors. Colombia’s FDI
declined by 3% to $10.2 billion between January and September 2017.
Colombia has signed or is negotiating Free Trade Agreements (FTA) with
more than a dozen countries; the US-Colombia FTA went into effect in May 2012.
Colombia is a founding member of the Pacific Alliance—a regional trade block
formed in 2012 by Chile, Colombia, Mexico, and Peru to promote regional trade
and economic integration. The Colombian government took steps in 2017 to
address several bilateral trade irritants with the US, including those on truck
scrappage, distilled spirits, pharmaceuticals, ethanol imports, and labor
rights. Colombia hopes to accede to the Organization for Economic Cooperation
and Development.
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Source
: CIA |
STATUTORY
INFORMATION
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Legal
Name: |
GELCO S.A.S |
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Trade
Name: |
GELCO |
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NIT |
890101692 - 1 |
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Date
created: |
1966 |
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Date
Incorporated: |
1966-03-17 |
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Legal
Address: |
Carrera 42 No. 2 – 100 Barranquilla / Colombia |
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Operative
Address: |
Carrera 42 No. 2 – 100 Barranquilla / Colombia |
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Telephone:
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(+575) 3446597, (+575) 3446037,
(+575) 3446586 |
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Fax: |
(+575) 3446261, (+575) 3445182 |
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Legal
Form: |
Sociedades Por Acciones Simplificadas Sas |
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Email: |
gelco@gelcointernational.com algemiro.lopez@gelcointernational.com |
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Registered
in: |
COLOMBIA |
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Website:
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www.gelcocolombia.com |
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Contact: |
Carlos Cesar Camargo Ospino, Legal
Representative and Director |
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Staff:
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125 |
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Industry: |
2029
Manufacture of other chemical products n.c.p. NAICS
1: All Other Basic Organic Chemical Manufacturing NAICS
2: Other Cut and Sew Apparel Manufacturing NAICS
3: All Other Miscellaneous Food Manufacturing SIC
1: Industrial Organic Chemicals, Nec SIC
2: Fur Goods SIC
3: Food Preparations, Nec |
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BANKS
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BANCOLOMBIA |
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HISTORY
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GELCO was founded in 1966 in order to manufacture and supply edible,
pharmaceutical and technical gelatine. The plant installation and process technology
was supervised by Atlantic Gelatine, a General Foods division, who handled
the plant the first five years. |
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Key
Developments |
In 2008, Gelco bought Kraft’s
gelatin plant located in Pedreira, Brazil, which started its operation as
GELCO GELATINAS DO BRASIL LTDA. on April 2009. Since then, this new plant has been in a
continuous improvement of processes and equipments, in order to achieve high
levels of efficiency and quality. In 2016, the company obtained
its FSSC 22000 Food Safety Certification. |
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PRINCIPAL
ACTIVITY
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Gelco S A S is a mid-sized organization in the organic chemicals
manufacturers industry located in Barranquilla, Colombia. |
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Products/Services
description: |
PRODUCTS Edible Gelatine Pharmaceutical Gelatine MANUFACTURING PROCESS Gelco manufactures its gelatine from cattle’s skin, which contains a
protein called collagen The skin is submitted initially to a washing process and alkaline
treatment to obtain protein’s solubility. Then it is treated with acid in order
to extract it by hydrolysis with hot water, obtaining gelatine liquor. This liquor is filtered, concentrated by evaporation, chilled to a gel
and dried, in order to grind it and give it a mesh size according to the
customer’s requirements. The gelatine liquor is then sterilized at 138°C for 4 seconds.
Subsequently gelatine liquor is gelled and comes out in spaghetti shape, then
it is taken to the drying tunnel, where water is withdrawn until the final
degree of humidity is obtained. The gelatine passes to the grinding, milling and sifting stages, where
the desired grain size is obtained. Then it goes to the mixing stage. Finally, the product is transported to the packing system, which uses
magnetic traps and metal detector equipment to prevent and detect any
metallic particle in the final product. |
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Brands: |
NA |
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Sales
are: |
Wholesale |
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Clients: |
Originates Inc. Ingredients Of USA HELM DE MEXICO SA Mexico Farbiovet Sa Ecuador Ooo Soyuzopttorg Russia |
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Suppliers: |
Productora De Gelatina Ecuatoriana Sa
Prodegel Ecuador |
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Operations
area: |
National
and international |
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The
company imports from |
Ecuador |
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The
company exports to |
USA, Mexico, Ecuador and Russia |
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The
subject employs |
125
employees |
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Payments:
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No
Complaints |
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LOCATION
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Headquarters
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CARRERA 42 No. 2 – 100 Barranquilla / Colombia |
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Branches: |
The
company does not have branches |
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Related
Companies: |
The
company has representatives in: Germany Spain U.S.A. Guatemala Greece México Perú Portugal Dominican Republic Turkey |
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Main Competitors: |
Patino Jimenez Maria Helena Carrera 72 F Bis 39 25 Sur Roman Echavarria Maria Gladis Diagonal 53 G43 82 Enzitec de Colombia Ltda. Calle 100 8 A 49 Carvajal Arenas Aoliverio de Jesus Calle Del Comercio Plaza Ppal Oxigenos de Caldas S A S Calle 48 A 27 32 |
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GROUP
STRUCTURE AND SUBSIDIARY COMPANIES
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Listed
at the stock exchange: |
NA |
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Capital: |
COP
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Shareholders: |
This
is a private company. The company does not disclose information on
shareholders. We could not confirm major holders. |
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Management:
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Carlos Cesar Camargo Ospino, Legal
Representative and Director Andrea Paola Ledesma Roncallo, Fiscal
Reviewer Cruz Latino Oscar Manuel, Alternate Fiscal
Reviewer Gustavo Edmundo Vergara Rodriguez, Director Carlos Adolphs, Director Ramon Pereira Visbal, Director Hugo Eduardo Jojoa Santacruz, Director Aguirre Dominguez Carlos Adolfo, Director |
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FINANCIAL
INFORMATION
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We attach the company’s latest financial
statements. |
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LEGAL
FILINGS
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Lawsuits |
No found |
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OFAC Sanctions
List Search |
The company is not listed in the OFAC list. |
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SUMMARY
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Founded
in 1966, Gelco S A S is a mid-sized organization in the organic chemicals
manufacturers industry located in Barranquilla, Colombia. It
has approximately 125 full-time employees. It
mainly imports from Ecuador, and exports to USA, Mexico, Ecuador and Russia,
operating within national and international markets. This
is an ACTIVE company located in COLOMBIA and incorporated in 1966. |
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RISK
INFORMATION
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DEBTS |
Controlled
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PAYMENTS |
No
Complaints |
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CASH FLOW |
Normal
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STATUS |
ACTIVE |
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INTERVIEW |
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NAME |
NA |
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POSITION |
NA |
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COMMENTS |
Despite
we called the company several times, the person in charge of providing information
about the company was not present, so we could not confirm further
information. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.82 |
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1 |
INR 90.40 |
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Euro |
1 |
INR 79.76 |
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COP |
1 |
INR 0.023 |
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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PRI |
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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.