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MIRA
INFORM REPORT
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Report No. : |
499914 |
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Report Date : |
26.03.2018 |
IDENTIFICATION DETAILS
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Name : |
AKRA POLYESTER S.A DE C.V. |
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Registered Office : |
Carretera Tampico- Mante S/N, Ciudad Corredor Industrial, 89603,
Ciudad Corredor Industrial, Altamira |
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Country : |
Mexico |
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Date of Incorporation : |
1959 |
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Legal Form : |
Sociedad Anonima De Capital Variable |
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Line of Business : |
Subject is engages in the production and marketing of polyester
polymer, polyester textile filament, and polyester industrial yarn for
Central and South American, North American, and European markets. |
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No. of Employees : |
1,400 |
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 : |
Regular |
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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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Mexico |
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 |
MEXICO - ECONOMIC OVERVIEW
Mexico's $2.4 trillion economy – 11th largest in the world - has become
increasingly oriented toward manufacturing since the North American Free Trade
Agreement (NAFTA) entered into force in 1994. Per capita income is roughly
one-third that of the US; income distribution remains highly unequal.
Mexico has become the US' second-largest export market and third-largest
source of imports. In 2016, two-way trade in goods and services exceeded $579
billion. Mexico has free trade agreements with 46 countries, putting more than
90% of its trade under free trade agreements. In 2012, Mexico formed the
Pacific Alliance with Peru, Colombia, and Chile.
Mexico's current government, led by President Enrique PENA NIETO, has
emphasized economic reforms, passing and implementing sweeping energy,
financial, fiscal, and telecommunications reform legislation, among others,
with the long-term aim to improve competitiveness and economic growth across
the Mexican economy. Since 2015, Mexico has held public auctions of oil and gas
exploration and development rights and for long-term electric power generation
contracts. Mexico has also issued permits for private sector import,
distribution, and retail sales of refined petroleum products in an effort to
attract private investment into the energy sector and boost production.
Since 2013, Mexico’s economic growth has averaged 2% annually, falling
short of private-sector expectations that President PENA NIETO’s sweeping
reforms would bolster economic prospects. Growth is predicted to remain below
potential given falling oil production, weak oil prices, structural issues such
as low productivity, high inequality, a large informal sector employing over
half of the workforce, weak rule of law, and corruption. In 2018, Mexico’s
economy will be vulnerable to uncertainty surrounding the future of NAFTA—because
the US is its top trading partner and the two countries share integrated supply
chains—and to potential shifts in domestic policies following the inauguration
of a new a president in December 2018.
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Source
: CIA |
STATUTORY INFORMATION |
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Legal Name: |
AKRA POLYESTER S.A DE C.V. |
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Trade Name: |
AKRA POLYESTER S.A DE C.V. |
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ID: |
APO5912176H6 |
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Date Created: |
1959 |
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Date Incorporated: |
1959 |
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Legal Address: |
Carretera Tampico- Mante S/N, Ciudad Corredor Industrial, 89603,
Ciudad Corredor Industrial, Altamira, Mexico |
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Operative Address: |
Av. Adolfo Ruiz Cortines y Privada Roble SN Col. Pedro Lozano Monterrey, NL 64400 Mexico |
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Telephone: |
+52 (81) 8865 3100 |
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Fax: |
- |
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Legal Form: |
Sociedad Anonima De Capital Variable |
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Email: |
sales-usa-canada@akra.com |
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Registered in: |
MEXICO |
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Website: |
www.alpek.com |
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Contact: |
Jorge González Escobedo - President and Director |
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Staff: |
1,400 |
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Activity: |
NAICS 1: Artificial and Synthetic Fibers and Filaments Manufacturing SIC 1: Polyester Fibers |
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Banks: |
The company does not disclose its banking details. |
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History: |
Akra Polyester, S.A. de C.V. was founded in 1959 and is based in
Monterrey, Mexico. The company was formerly known as Teijin AKRA, S.A. de
C.V. and changed its name to Akra Polyester, S.A. de C.V. in April 2005. Alpek Polyester is the integrated business unit of Alpek, S.A.B. de
C.V. and is comprised of Grupo Petrotemex, S.A. de C.V. and DAK Americas LLC
& subsidiaries. |
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Parent Company: |
As of September 24, 2007, Akra Polyester, S.A. B. de C.V. operates as
a subsidiary of: Alpek SAB de CV. Avenida Gómez Morín Sur No. 1111 Col. Carrizalejo San Pedro Garza García, NL 66254 Mexico |
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PRINCIPAL ACTIVITY |
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Akra Polyester, S.A. de C.V. engages in the production and marketing
of polyester polymer, polyester textile filament, and polyester industrial
yarn for Central and South American, North American, and European markets. |
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Products/Services description: |
The company offers polyester polymer, polyester textile filament, and
polyester industrial yarn. |
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Brands: |
Akra Polyester |
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Sales are: |
Wholesale |
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Clients: |
M&G Polimeros Brasil S.A. Manufactura De Fibras Sinteticas S.A. Proquinal S.A. Plastipak Italia Preforme Srl Autoliv Romania Srl |
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Suppliers: |
Bromine Compounds Ltd. Oerlikon Textile Inc Setas Kimya Sanayi AS Sachtleben Chemie Gmbh Dacro B.V. Takemoto Oil And Fat Co., Ltd. Reliance Industries Limited |
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Operations area: |
National and International |
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The company imports from |
ISRAEL UNITED STATES OF AMERICA TURKEY GERMANY NETHERLANDS JAPAN INDIA |
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The company exports to |
BRAZIL ARGENTINA COLOMBIA ITALY ROMANIA |
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The subject employs |
1,400 employees |
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Payments: |
Regular |
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LOCATION |
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Headquarters : |
Av. Adolfo Ruiz Cortines y Privada Roble SN Col. Pedro Lozano Monterrey, NL 64400 Mexico |
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Comments on Address: |
- |
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Branches: |
Akra Polyester, S.A. De C.V. Av. Asociación Nacional No. 6 Cuautitlan Izcalli, 54730 Mexico Akra Polyester, S.A. De C.V. Blvd. Diaz Ordaz Km. 333 San Pedro Garza García, 66210 Mexico Akra Polyester, S.A. De C.V. Boulevard Petrocel Km. 1 Altamira, Zacatecas 89603 Mexico |
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Related Companies: |
Grupo Petrotemex, S.A. de C.V. Belisario Dominguez No. 2002 Colonia Obispado Monterrey, NL 64 060 Mexico DAK Americas LLC 7621 Little Ave., Suite 500 Charlotte, NC 28226, USA |
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GROUP STRUCTURE AND SUBSIDIARY COMPANIES |
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Listed at the stock exchange: |
NO |
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Capital: |
NA |
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Shareholders: |
The company does not disclose information on shareholders. The
following information has been provided by private sources and could not be
confirmed: As of September 24, 2007, Akra Polyester, S.A.B. de C.V. operates as a
subsidiary of: Alpek SAB de CV. Avenida Gómez Morín Sur No. 1111 Col. Carrizalejo San Pedro Garza García, NL 66254 Mexico |
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Management: |
Jorge González Escobedo - President and Director Jesús Galván Rodríguez - Finance Manager Noé García - Production Manager |
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FINANCIAL INFORMATION |
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The company does not make its financial
statements public. The following information has been provided by private
sources: |
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ANNUAL IMPORTS CIF USD |
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2017 |
334.699.111 |
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2016 |
480.697.758 |
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2015 |
546.145.837 |
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ANNUAL EXPORTS FOB USD |
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2017 |
295.949.555 |
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2016 |
417.425.603 |
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2015 |
462.641.489 |
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LEGAL FILINGS |
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CASES |
No records 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 1959, Akra Polyester, S.A. De C.V. is a large organization
in the organic fiber manufacturers industry located in Monterrey, Mexico. It has approximately 1,400 full-time employees. The company operates
nationally and internationally, mainly exporting to Brazil, Argentina,
Colombia, Italy and Romania. It is ACTIVE in business with no negative records. |
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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 |
Guillermo |
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POSITION |
Sales |
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COMMENTS |
He 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 President. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.13 |
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1 |
INR 91.95 |
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Euro |
1 |
INR 80.34 |
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MXN |
1 |
INR 3.51 |
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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VIV |
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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
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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.