MIRA INFORM REPORT

Report No. :	508402
Report Date :	14.05.2018

IDENTIFICATION DETAILS

Name :	MARMON KEYSTONE CANADA INC.
Registered Office :	1220 Heritage Road , Burlington , Ontario , L7l 4x9
Country :	Canada
Financials (as on) :	2016 (Summarized)
Date of Incorporation :	1978
Legal Form :	Canada Business Corporation
Line of Business :	Subject distributes carbon tubes, pipes, shafting, and structural tubes to customers in Canada.
No. of Employees :	204

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 (30.09.2017)	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:	MARMON KEYSTONE CANADA INC.
Trade Name:	Specialty Steels
ID:	4404548
Date Created:	1978
Date Incorporated:	2007-01-01
Legal Address:	1220 HERITAGE ROAD , BURLINGTON , Ontario , L7L 4X9 CANADA
Operative Address:	1220 Heritage Rd, Burlington, ON L7L 4X9, Canada
Telephone:	905 335 8827
Fax:	905 335 7059
Legal Form:	Canada Business Corporation
Email:	infoOntario@mkcanada.com
Registered in:	CANADA
Website:	www.mkcanada.com
Contact:	David H. Rombough, President and General Manager
Staff:	204 Employees
Activity:	SIC Code: 5051, Metals Service Centers and Offices NAICS Code: 423510, Metal Service Centers and Other Metal Merchant Wholesalers
BANKS:
	The company does not make its banking data public
HISTORY:
	The company was founded in 1978 and is based in Burlington, Canada. Marmon/Keystone Canada Inc. operates as a subsidiary of Marmon/Keystone Corporation.
PRINCIPAL ACTIVITY
Marmon/Keystone Canada Inc. distributes carbon tubes, pipes, shafting, and structural tubes to customers in Canada.
Products/Services description:	It offers chrome plated, induction hardened metric, induction hardened, and nitro bar shafting; stainless steel flanges, fittings, bars, pipes, and tubes; aluminum seamless pipes, tubes, and hollow bars; boiler, heat exchanger, and condenser tubing; and other tubes. Stainless Steel Pipe, Tubing and Bar
Brands:	No brands registered
Sales are:	Wholesale
Clients:	NA
Suppliers:	GEMINI STEEL TUBES LTD. YC INOX CO., LTD. Tube Investments Of India Ltd. Yih Kuang Metal
Operations area:	National and International
The company imports from	India, China
The company exports to	No export records
The subject employs	204 Employees
Payments:	Regular
LOCATION
Headquarters :	1220 Heritage Rd, Burlington, ON L7L 4X9, Canada
Comments:	NA
Branches:	Québec Warehouse 290 Chemin du Tremblay Boucherville, PQ J4B 5X9 Email: infoQuebec@mkcanada.com Manitoba Warehouse 79 Routledge Avenue Headingley, MB R4H 0A9 Email: infoManitoba@mkcanada.com Alberta Locations 7924-43rd Street Leduc, AB T9E 7E8 Email: infoAlberta@mkcanada.com British Columbia Warehouse 27447-56th Avenue Langley, BC V4W 3X1 Email: infoBritishColumbia@mkcanada.com
Main Competitors	Fischer Canada CF.F. Stainless Tubular Steel Inc.
Related Companies:	Marmon/Keystone Corporation 225 East Cunningham Street Butler, PA 16001 United States
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders:	Marmon/Keystone Canada Inc. operates as a subsidiary of: Marmon/Keystone Corporation 225 East Cunningham Street Butler, PA 16001 United States
Management:	David H. Rombough, President and General Manager Pierre Chenier, Group Vice President of Operations Tony Peluso, Regional Manager of Ontario Kevin Grantham, Sales Manager of Ontario Region
FINANCIAL INFORMATION
The company does not make its financial statements public. The following information has been provided by private sources:
USD 2016
Sales	100 140 000
Cash flow	Normal
LEGAL FILINGS
Lawsuits:	Ouellet c. Marmon / Keystone Canada Inc., 2004 QCCRT 223 (CanLII) Date: 2004-04-23 File number : 204744; CM-1011-7613 Other quote: DTE 2004T-577 Reference: Ouellet c. Marmon / Keystone Canada Inc., 2004 QCCRT 223 (CanLII), < http://canlii.ca/t/1h10s >, accessed on 2018-05-08 Ouellet c. Marmon / Keystone Canada Inc., 2003 QCCRT 554 (CanLII) Date: 2003-09-30 File number : 204744; CM-1011-7613 Other quote: DTE 2003T-1086 Reference: Ouellet c. Marmon / Keystone Canada Inc., 2003 QCCRT 554 (CanLII), < http://canlii.ca/t/4rgw >, retrieved on 2018-05-08 STANDARDS, EQUITY, HEALTH AND SAFETY COMMITTEE Pay Equity Act, CQLR, chapter E-12.001 Vice Presidency for Pay Equity File No o : 59166 Date: February 21, 2018 Judith Carroll, Commissioner Committee on Standards, Equity, Health and Safety and Marmon / Keystone Canada Inc. . Party complained against Resolution: ES-377-5.27-59166 ADMINISTRATIVE LABOR TRIBUNAL (Labor Relations Division) Region : Montérégie Folder : CM-2017-4642 Accreditation file: AM-2001-9048 Montreal October 19, 2017 BEFORE THE ADMINISTRATIVE JUDGE: France Giroux Independent Brotherhood of Industrial Workers Applicant Party Marmon / Keystone Canada Inc. . Defendant
OFAC Sanctions List Search:	The company is not listed in the OFAC list.
SUMMARY
Marmon/Keystone Canada Inc is a privately held company in Burlington, ON and is a Headquarters business. Categorized under Pipe and Tubing, Steel. Current estimates show this company has an annual revenue of USD 100,140,000 and employs a staff of approximately 204. It mainly imports from India and China, but does not have any export records. It is ACTIVE in CANADA; with no negative records.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	Regular
CASH FLOW	Normal
STATUS	ACTIVE
INTERVIEW
NAME	KIM
POSITION	Operator
COMMENTS	She confirmed name, operative address, website, email address, that they sell wholesale, that they are subsidiaries of Marmon Keystone Corporation, and that their trade name is Specialty Steels.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.22
UK Pound	1	INR 90.88
Euro	1	INR 80.09
CAD	1	INR 52.62

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

INFORMATION DETAILS

Analysis Done by :	VIV
Report Prepared by :	TRU

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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