MIRA INFORM REPORT

Report No. :	493536
Report Date :	27.02.2018

IDENTIFICATION DETAILS

Name :	OPTEL VISION INC.
Formerly Known As :	OPTEL-TECHNOLOGIES INC
Registered Office :	2680, Boul. Du Parc Technologique, Québec (Québec)
Country :	Canada
Financials (as on) :	2016 [Summarized]
Date of Incorporation :	1989
Legal Form :	Joint stock company or company
Line of Business :	Subject develops, manufactures, and integrates innovative, packaging line Inspection and Serialization Solutions for the pharmaceutical industry.
No. of Employees :	370

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+	Low Risk	Business dealings permissible with low 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:	OPTEL VISION INC.
Trade Name:	OPTEL VISION
ID:	1142381830
Date Created:	1989
Date Incorporated:	7/2/1995
Legal Address:	2680, BOUL. DU PARC TECHNOLOGIQUE QUÉBEC (QUÉBEC) Canada
Operative Address:	2680, BOUL. DU PARC TECHNOLOGIQUE QUÉBEC (QUÉBEC) Canada
Telephone:	1 418 688 0334
Fax:	1 418 688 9397
Legal Form:	Joint stock company or company
Email:	info@optelvision.com
Registered in:	QUEBEC
Website:	www.optelvision.com
Contact:	ROY LOUIS, president
Staff:	370
Industry:	Primary Industry (NAICS): 334110 - Computer and Peripheral Equipment Manufacturing Alternate Industries (NAICS): 541510 - Computer Systems Design and Related Services
Banks
Royal Bank of Canada	The company does not disclose its banking details
HISTORY
The company was founded in 1995 Previous Name: OPTEL-TECHNOLOGIES INC. 1992-08-20 2011-11-22 c
Press Release:	Optel Vision Opens EMEA Office in Ireland Nov 27 14 Optel Vision has now opened a new EMEA Office in Ireland to serve its customers across Europe. This new site will be the turning point for European operation. The facility will be executing the engineering and final stage testing of solutions. Customers will be able to visit the Limerick plant for their equipment FATs. The facility will also serve as a training and demo center. At this new location, Optel Vision will create 140 new jobs in Limerick as part of a new European expansion. The roles will be created over the next five years in engineering, design, assembly, testing, customer support, sales, H.R., finance and administration activities.
PRINCIPAL ACTIVITY
Optel Vision develops, manufactures, and integrates innovative, packaging line Inspection and Serialization Solutions for the pharmaceutical industry.
Products/Services description:	Optel Vision Inc. develops, integrates, and maintains inspection and serialization solutions for pharmaceutical companies and contract packers worldwide. It offers TrackSafe, a track and trace system; PharmaProof, a package inspection solution; TabletProof 360, a vision system that offers a simultaneous 360° inspection of each and every pill/tablet/gel capsule; TabletProof, an inspection system for tablet identification; and CountSafe-Slat Counter, an automated vision inspection solution. The company also provides CountSafe, an electronic counter inspection solution; BlisterSafe, a blister verification solution; DoseSafe, a dose inspection solution; VialSafe, a vial inspection solution.
Brands:	Optel Vision
Sales are:	Wholesale
Clients:	It serves pharmacies, manufacturers, repackers, and hospitals.
Suppliers:	EXXONMOBIL DE COLOMBIA S.A. Colombia Merck SA De Cv Mexico
Operations area:	National and International
The company exports to	Colombia, Mexico
The subject employs	370 employees
Payments:	Regular
LOCATION
Headquarters :	2680 Boul Du Parc-Technologique Québec, QC, G1P 4S6 Canada
Total plant size:	55 000 square/foot
Branches:	Optel Vision has one branch in Canada
Related Companies:	IRELAND Optel Vision EMEA Office 101 Pearse Road, Raheen Business Park Limerick, V94 KR67 Phone: +353 61480965 Email: info@optelvision.com GERMANY Optel Vision & Movilitas Demo Center Cassellastraße 30-32, 60386 Frankfurt am Main Phone: +49 69 967 597 66 Email: info@optelvision.com
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders:	This is a private company. Shareholders are: ROY, LOUIS 2796 rue de Poitiers Québec (Québec) G1W2B8 Canada LAFORTUNE, JEAN-FRANÇOIS 1332 rue Touzeau Québec (Québec) G1Y2Z4 Canada FIDUCIE OPTEL VISION-ROY (2014) 2796 rue de Poitiers Québec (Québec) G1W2B8 Canada
Management:	JEAN-FRANCOIS LAFORTUNE Title: Vice President Area of Responsibility: Management Executive Telephone: (418) 688-0334 Facsimile: (418) 688-9397 Email: optel@optelvision.com Louis Roy Title: President Area of Responsibility: Management Executive Telephone: (418) 688-0334 Facsimile: (418) 688-9397 Email: louis.roy@optelvision.com
FINANCIAL INFORMATION
The company does not public its financial statements. Thw following information has been provided by our private sources:
CAD 2016
Revenue	50 000 000
Cash Flow	Normal
LEGAL FILINGS
Trademarks	OPTEL VISION - Trademark Details Status: 702 - Section 8 & 15-Accepted And Acknowledged serial number 77898528
DÉCLARATION DE MISE À JOUR ANNUELLE 2015 2015-12-08 Certificat de modification 2015-06-05 DÉCLARATION DE MISE À JOUR ANNUELLE 2014 2014-12-04 Déclaration de mise à jour courante 2014-04-17 Certificat de modification 2014-04-16
SUMMARY
Optel Vision Inc. is a private organization founded in 1989. With 370 employees and $50M in annual revenue, the company is much larger than and generates much more revenue than the average process control instrument manufacturer. The company invested in 2014 U$S 10M in distribution resources and has offices in Ireland and Germany. The company is ACTIVE without negative records.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	Regular
CASH FLOW	Normal
STATUS	ACTIVE
INTERVIEW
NAME	Isabella
POSITION	Sales
COMMENTS	The person contacted confirmed experience, ownership, products, ID, address, activity, staff and managers.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 64.66
UK Pound	1	INR 90.65
Euro	1	INR 79.70
CAD	1	INR 51.01

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

INFORMATION DETAILS

Analysis Done by :	DIV
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.