MIRA INFORM REPORT

Report No. :	487778
Report Date :	27.01.2018

IDENTIFICATION DETAILS

Name :	ACEROS COLOMBIA ACEROSCOL S.A.S.
Registered Office :	Calle 52 No. 1N – 97, Cali
Country :	Colombia
Financials (as on) :	31.12.2016
Date of Incorporation :	23.06.1976
Legal Form :	Companies for Simplified Actions SAS
Line of Business :	Subject is a company that markets, processes and distributes special steels and other metallurgical elements for customers in the industrial sectors, specialized workshops, agricultural sector and commercial.
No. of Employees :	40

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 (30.06.2017)	Current Rating (30.09.2017)
Colombia	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

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.

Source : CIA

STATUTORY INFORMATION
Legal Name:	ACEROS COLOMBIA ACEROSCOL S.A.S.
Trade Name:	ACEROSCOL S.A.S.
NIT	890310500 – 0
Date created:	1976
Date Incorporated:	1976-06-23
Legal Address:	Calle 52 No. 1N – 97 Cali - Colombia
Operative Address:	Calle 52 No. 1N – 97 Cali - Colombia
Telephone:	(2) 447 5500 - (2) 680 1311 Mobile. 317 657 8642
Fax:	(2) 447 2095
Legal Form:	Companies for Simplified Actions SAS
Email:	ventas@aceroscol.com
Registered in:	COLOMBIA
Website:	www.aceroscol.com
Contact:	Alvaro Valencia Salgado, Legal Representative and Main Board of Directors Holguin Lerma Mario, Alternate Legal Representative And Alternate Main Board Of Directors
Staff:	40
Industry:	4662 Wholesale of metals and metal products NAICS 1: Metal Service Centers and Other Metal Merchant Wholesalers NAICS 2: All Other Miscellaneous Store Retailers (except Tobacco Stores) SIC 1: Metals Service Centers And Offices SIC 2: Miscellaneous Retail Stores, Nec
BANKS
BANCOLOMBIA
HISTORY
The company was founded in 1976
PRINCIPAL ACTIVITY
Aceros Colombia Aceroscol S A S is a mid-sized organization in the metals service centers industry located in Cali, Colombia.
Products/Services description:	ACEROSCOL S. A. S. is a company that markets, processes and distributes special steels and other metallurgical elements for customers in the industrial sectors, specialized workshops, agricultural sector and commercial. PRODUCTS Steels for Machinery Steel for Tools Structural Steels Gray and Nodular cast iron Bronzes Other products: Metal Babbitt Lead Ingot - blade Aluminum Round bars - plates Plates - angles Tin Ingots Shim shim Bronze - steel and stainless Engineering plastics SERVICES Bar cutting in endless saw Cutting in CNC pantograph Plasma and oxyfuel Metalworking Design of plans in Autocad Manufacture of tubulars for sugarcane trains
Brands:	NA
Sales are:	Wholesale
Clients:	Industrial Sectors, Specialized Workshops, Agricultural Sector and Commercial Industries Taller Vargas Matamoros Costa Rica
Suppliers:	Kold Roll De Monterrey S.A. De C.V. Mexico Aceromex Mexico JYOTI STEEL INDUSTRIES India SHREE JAY JAGDAMBA STAINLESS STEEL India R. L. Steels & Energy Ltd. India Brown Msfarlane Limited UK
Operations area:	National and International
The company imports from	Mexico, India and UK
The company exports to	Costa Rica
The subject employs	40 employees
Payments:	Regular
LOCATION
Headquarters :	Calle 52 No. 1N – 97 Cali - Colombia
Branches:	The company does not have branches
Related Companies:	NA
Main Competitors:	R.C. Ltda. Calle 77 #67-37 Curtifac Ltda. Calle 59 17 B 06 Sur Inversiones Jorkan Limitada Calle 80 A 104 49 Ap 416 C I Foran Ltda. Carrera 35 106 22 Duran Llano Juan Pablo Manzana Mz 16 Ca 14 Brr Protecho
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NA
Capital:	COP $1,400,000
Shareholders:	This is a private company. The company does not disclose information on shareholders. We could not confirm major holders.
Management:	Alvaro Valencia Salgado, Legal Representative and Main Board of Directors Holguin Lerma Mario, Alternate Legal Representative And Alternate Main Board Of Directors Amanda Valencia, Accounting Area Jose Hernando Zuluaga Marin, Fiscal Reviewer Avila Quintero Myriam, Alternate Fiscal Reviewer Claudia Valencia John Felipe, Sales Maite Lopez, Sales Sandra Lopez, Sales Viviana Suarez, Sales Julio Bernal, Logistics Area
FINANCIAL INFORMATION
We attach the company’s latest financial statements.
LEGAL FILINGS
Lawsuits:	No found
Government Contracts:	Detail of the Process Number3006049 ECOPETROL - COLOMBIAN OIL COMPANY General Information of the Process Type of Process: Special Regime Process Status: Celebrated Contracting System: BILATERAL NEGOTIATION Group: [D] Components and Supplies Segment: [30] Components and Supplies for Structures, Building, Construction and Civil Works Family: [3026] Structural materials Class: [302618] Magnesium bars and sheets Detail and Quantity of the Object to be hired: PURCHASE OF LAMINAS BARS AND PROFILES FOR DIFFERENT DEPENDENCIES OF ECOPETROL SA Amount to Hire: $ 129,618,720 Payment Currency: Colombian Peso Type of Contract: Supply Geographical Location of the Process: Department and Municipality of Execution Santander: Barrancabermeja Process Contact Data Email: germanda.salazar@ecopetrol.com.co Information on Contracts Associated with the Process Contract Number: 3006049 Contract Status: Celebrated Object of the Contract: PURCHASE OF LAMINAR BARS AND PROFILES FOR DIFFERENT DEPENDENCIES OF ECOPETROL SA Final Contract Amount: $ 129,618,720.00 Colombian Peso Name or Social Name of the Contractor: ACEROS COLOMBIA ACEROSCOL LTDA Identification of the Contractor: Nit of Legal Person No. 8903105000 Country and Department / Province of location of the Contractor Colombia: Valle del Cauca Name of the Contractor's Legal Representative: ACEROS COLOMBIA ACEROSCOL Identification of the Legal Representative: Nit of Legal Person No. 8903105000 Value External Audit Contract: $ .00 Date of Contract Signing: April 25, 2017 Start date of execution of the contract: April 25, 2017 Contract Execution Term: 8 Months Spending Destination: Not Applicable
OFAC Sanctions List Search	The company is not listed in the OFAC list.
SUMMARY
Founded in 1976, Aceros Colombia Aceroscol S A S is a mid-sized organization in the metals service centers industry located in Cali, Colombia. It has approximately 40 full-time employees. It mainly imports from Mexico, India and UK, and exports to Costa Rica, operating within national and international markets. This is an ACTIVE company located in COLOMBIA and incorporated in 1976.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	Regular
CASH FLOW	Normal
STATUS	ACTIVE
INTERVIEW
NAME	José
POSITION	Operator
COMMENTS	He confirmed legal name, trade name, address, telephone, website and principal activity. He asked the reason of the call and explained that he was not allowed to provide further information. He transferred the call but nobody answered.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.64
UK Pound	1	INR 89.32
Euro	1	INR 78.45
COP	1	INR 0.023

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

INFORMATION DETAILS

Analysis Done by :	VAR
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.