Furniture Co

# Template State Owned Enterprises- Company Overviews OCPA - Ministry of Industry & Minerals Note: All currency figures are in 000's of Iraqi Dinars unless otherwise noted. 1. General Information Company Name: Baghdad Factory for Furniture Industry Sector Service Brief Description Manufacturer of office furniture, tables, sofas, bookcases and bedroom furniture. Purpose of Company was to provide SOEs and State employees with furniture at below-market prices. Revenue in 2002 (Iraqi Dinars '000s) 1100000 # of Employees 223 plus 70 temporary workers Annual Employee Salaries & Bonus 504000 Headquarters Address Taji, 200 meters north of Powerplant. 2. Company Highlights Mgmt admits private market quality is better and at cheaper prices. Employee pay was less than in private market, therefore private market has better skilled employees. Heavy competition both from local private manufacturers and imports. Company relied on MOU subsidies to purchase raw materials (equal to total revenues). Has 6 months supply of wood not yet looted. Allocated $125K USD for 2H 2003 operating budget and provided with zero mw off of grid. 3. Facilities Name Province City Grid Damage % Power Needs Main Factory Taji MC33380209 0.3 0.5 mw Storage Facilities 0.4 Zaafaraia Workshop 0.6 Value of All Plant & Equipment Before War, and Initial Purchase Dates and Prices for Major Items 4. Products Product Name Unit Measurement Design Capacity Available Capacity 2002 Production 2002 Revenue Tables Set Depends on # of 500 600 Sofa Sets Set workers 500 600 Office Furniture Set 1450 2000 Dining Room Furniture Set 500 600 Book Cases Set 640 700 Bedroom Furniture Set 400 420 Description of Importance of Products to Other Iraqi Industries None. 5. Customers Customer Name 2002 Revenue Subsidized (Y/N) Products Sold to Customer and Unit Pricing Government SOEs 90% of total Yes On average, 200K ID per piece. Private Sector 10% of total #3 6. Suppliers Supplier Name 2002 Purchases Subsidized (Y/N) Products Purchased and Unit Pricing Imports through MOU Current Payment Terms From Suppliers 7. Imports & Exports 2002 Import Markets for Raw Materials Raw materials - especially wood. Potential Import Markets in Free Market 2002 Export Markets for Finished Products None Potential Export Markets in Free Market None 8. Competition Description of Competitive Situation Heavy competition both from Iraqi private sector and from imports. Iraq has "lots" of small furniture companies serving local niche markets. Market Share Description Minimal. 9. Summary of War Damage & Looting of Property & Equipment Description of Damage 90% of raw materials were looted. Baghdad offices were looted and motors were stolen. Zaafarania factory has extensive damage Current Operating Status Not operating. Would need one month to re-start once given green light and supplied with immediate needs. Immediate Property & Equipment Needs To Restart Operations Total Cost to Return to Pre-War Condition Mgmt claims 100M ID needed to repair and replace stolen items. Seems low given description of damages and looting.