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MIRA INFORM REPORT
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Report No. : |
511259 |
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Report Date : |
29.05.2018 |
IDENTIFICATION DETAILS
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Name : |
SCHNITZER STEEL CANADA LTD |
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Registered Office : |
12301 Musqueam Drive Surrey, BC V3V 3T2 |
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Country : |
Canada |
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Financials (as on) : |
2016 (Summarized) |
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Year of Establishment
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2011 |
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Legal Form : |
Corporation |
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Line of Business : |
Subject is engaged in produces and supplies steel products. |
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No. of Employees : |
100 |
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 : |
-- |
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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Canada |
A1 |
A1 |
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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 |
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.
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Source
: CIA |
STATUTORY
INFORMATION
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Legal Name: |
SCHNITZER STEEL CANADA LTD |
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Trade Names: |
SCHNITZER STEEL CANADA LTD |
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ID: |
BC0979031 |
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Date Created: |
2011 |
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Date Incorporated: |
AUGUST 28, 2013 |
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Legal Address: |
12301 Musqueam Drive Surrey, BC V3V 3T2 Canada |
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Operative Address: |
12301 Musqueam Drive Surrey, BC V3V 3T2 Canada |
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Telephone: |
1-604-580-0251 |
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Fax: |
1-604-580-1922 |
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Legal Form: |
CORPORATION |
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Email: |
- |
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Registered in: |
CANADA |
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Website: |
www.steelpacific.com |
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Contact: |
Tamara Lundgren - President and Chief Executive
Officer |
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Staff: |
100 |
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Activity: |
NAICS Code 423510 Metal Service Centers and Other Metal
Merchant Wholesalers |
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Banks: |
BANK OF AMERICA |
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FINANCIAL AGREEMENTS |
Third Amendment, dated as of June 25, 2015, to
Second Amended and Restated Credit Agreement, dated as of February 9, 2011, among Schnitzer Steel Industries, Inc., as US
Borrower, and Schnitzer Steel Canada Ltd., as Canadian Borrower, Bank of
America, N.A., as Administrative Agent, and the other Lenders party
thereto. Filed as an Exhibit to the Registrant's Annual Report on Form 10-K
filed on October 29, 2013, and incorporated herein by
reference. |
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History: |
The company was founded in 2011. The company
amalgamated with SCHNITZER STEEL BC, INC. and SCHNITZER STEEL PACIFIC, INC.
in 2013. |
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Parent Company: |
The company operates as a subsidiary of: 299 SW Clay Street Suite 350 Portland, OR 97201 United States |
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PRINCIPAL
ACTIVITY
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Schnitzer Steel Canada Ltd. produces and supplies
steel products. |
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Products/Services description: |
The Company offers assembling, breaking up, sorting,
and wholesale distribution of scrap and waste materials. |
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Brands: |
SCHNITZER |
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Sales are: |
Wholesale |
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Clients: |
Schnitzer Steel Industries |
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Suppliers: |
NA |
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Operations area: |
National and International |
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The company exports to |
UNITED STATES |
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The subject employs |
100 employees |
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Payments: |
Regular |
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LOCATION
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Headquarters : |
12301 Musqueam Drive Surrey, BC V3V 3T2 Canada |
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Comments on Address: |
- |
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Branches: |
Schnitzer Steel Canada Ltd 307 David St Victoria, BC, V8T 5C1 Canada Schnitzer Steel Canada Ltd 3015 Boys Rd Duncan, BC, V9L 6W4
Canada Schnitzer Steel Canada Ltd 2600 Manulife Pl 10180 101 St Edmonton, AB, T5J 3Y2 Canada |
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Related Companies: |
The company has several sister companies. Some of
them are: Delaware Cascade Steel Rolling Mills, Inc. Oregon Crawford Street Corporation Oregon Edman Corp. Oregon FerMar, LLC Oregon Ferrum Bridge, LLC Delaware Freetown Self Serve Used Auto Parts, LLC Massachusetts Freetown Transfer Facility LLC Massachusetts General Metals of Tacoma, Inc. Washington Joint Venture Operations, Inc. Delaware Karileen, LLC Washington Maine Metal Recycling, Inc. Maine Manufacturing Management, Inc. Oregon Metals Recycling, L.L.C. Rhode Island Millis Industries, Inc. Massachusetts Millis Used Auto Parts, Inc. Massachusetts |
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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 operates as a subsidiary of: 299 SW Clay Street Suite 350 Portland, OR 97201 United States |
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Management: |
Tamara Lundgren - President and Chief Executive
Officer Richard C. Josephson- Secretary Richard Peach – Senior Vice President and Chief
Financial Officer Steven Heiskell - Vice President Thomas Klauer - Vice President |
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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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USD 2016 |
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Sales |
29.740.000 |
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Cash flow |
Normal |
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We attach the parent´s last financial statements. |
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LEGAL FILINGS |
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CASES |
Union internationale des opérateurs‑ingénieurs, section
locale 115 c Schnitzer Steel BC, inc, 2012 CCRI 640 (CanLII) — 2012-04-24 Conseil canadien des relations industrielles — Canada
(fédéral) ferraille — compétence — entreprise — transport
interprovincial — tiers Edwards v. Schnitzer Steel Pacific, 2012 BCHRT 335
(CanLII) — 2012-09-28 British Columbia Human Rights Tribunal — Colombie-Britannique settlement — complaint — award — costs — executed |
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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 2011, Schnitzer Steel Canada Ltd. is an organization
in the Metal Service Centers and Other Metal Merchant Wholesalers Industry
headquartered in Surrey, Canada. The company has 100 regular employees and generates
an estimated $29.7 million USD in annual revenue. It operates nationally and internationally, mainly
exporting to the United States. It is ACTIVE in business with no negative
records. |
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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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 Chief Executive Officer. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 67.44 |
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1 |
INR 89.88 |
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Euro |
1 |
INR 79.00 |
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CAD |
1 |
INR 52.17 |
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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DIV |
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Report Prepared
by : |
DNS |
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.