MIRA
INFORM REPORT
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Report Date : |
13.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
Grasso International B.V. |
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Registered Office : |
Parallelweg 27, 5223 Al `S-Hertogenbosch |
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Country : |
Netherlands |
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Financials (as on) : |
31.12.2003 |
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Date of Incorporation : |
03/12/1985 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesale business in and the export of compressors, air- and gas pumps and spare parts for industrial cooling applications. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
name & address
Grasso
International B.V.
Parallelweg 27
5223 AL `S-HERTOGENBOSCH
Tel.:+31
(0)73-6203911
Fax.:+31
(0)73-6214350
Legal status
BV Private Company Ltd. acc. nat. law
Founded
03/12/1985 as Ltd.
Trade register
16050750
Capital
nominal EUR 2.500.000,--
issued and paid up EUR 625.000,--
Management
P.W.M. van Maanen, born 14/01/1963,
Chorinerstrasse 11, BERLIN (D)
Signatory
J.P.M. van Bijnen, born 25/01/1952,
Sonniusstraat 6, 5212 AK DEN BOSCH
Activity
Wholesale business in and the export of compressors, air- and gas pumps and spare parts for industrial cooling applications.
Staff
100 employees
from the consolidated balance sheet of
Grasso's Koninklijke Machinefabrieken N.V.
2003
Euro 345.968.000
Real estate
The business premises at the mentioned
address has been rented by the company, as far as we know.
See balance sheet
The last available balance sheet is
attached.
A more recent balance sheet is not
available.
Remarks
Subsidiary company of
-Grasso's
Koninklijke Machinefabrieken N.V.,
Parallelweg 27,
5223 AL `S-HERTOGENBOSCH
Ultimate parent company
-Gea Dutch Holding
BV,
Parallelweg 27,
5223 AL DEN BOSCH.Previous name of the company:
-Grasso
Testtechniek BV
The next financial data is extracted from
the consolidated balance sheet of 'Grasso's Koninklijke Machinefabrieken N.V.'
Consolidated net result:
2003
Euro 24.644.000
The shareholders equity was as of:
31/12/2003 Euro 6.690.000
The working capital was as of:
31/12/2003 Euro 20.625.000
A declaration of liability has been issued
by Grasso's Koninklijke
Machinefabrieken N.V. In spite of the legal obligation did this company
not file any accounts over recent years.
Import : Germany
Export : the USA, Asia, Africa and Australia
Correspondence
address:
Postbus 343
5201 AH `S-HERTOGENBOSCH
Website: www.grasso-global.com/
Banks
ABN-AMRO NV, `s-Hertogenbosch
Mode of payment
On average 20 days beyond terms.
Credit demand
No objections against entering into a business relationship.
With regard to the above mentioned information, we recommend you to
follow the course of business.
The following financial data is retrieved from the consolidated balance sheet of :
Grasso's Koninklijke Machinefabrieken N.V.
Parallelweg, 5223AL `S-HERTOGENBOSCH
Trade register 16020595
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Grasso's
Koninklijke Machinefabrieken N.V. *** BALANCE SHEET ***
Consolidated in Euro(x 1.000)
-------- ------31-12-2003---
Intangible assets 0 2.221
Tangible assets 0 15.943
Financial assets 0 69.535
Miscellaneous fixed
assets 0 0
Total fixed assets 0 87.699
Stock 0 37.229
Receivables 0 90.394
Shares 0 0
Liquid assets 0 18.734
Miscellaneous
current assets 0 0
Total current assets 0 146.357
Shareholders equity 0 96.465
Provisions 0 11.634
Long-term
liabilities 0 0
Current liabilities 0 125.732
Minority interests 0 225
Miscellaneous
liabilities 0 0
Total liabilities 0 234.056
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Grasso's
Koninklijke Machinefabrieken N.V. *** PROFIT & LOSS ACCOUNT ***
Consolidated in Euro(x 1.000)
-------- ------31-12-2003---
Turnover 0 345.968
Other income 0 0
Total expenses 0 310.795
Operating profit 0 31.864
Balance financial
P/L 0 1.228
Net profit/loss 1] 0 33.092
Taxation 0 8.421
Share in P/L of
subsidiaries 0 0
Net profit/loss 2] 0 24.671
Balance
extraordinary P/L 0 0
Taxation 0 0
Extraordinary P/L
2] 0 0
Res. sub. companies
2] 0 0
Minority interests 0 27
Miscellaneous P/L 0 0
Net result 0 24.644
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Legend : 1] = Before tax
2] = After
tax
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Grasso's
Koninklijke Machinefabrieken N.V.
*** FINANCIAL RATIOS ***
---------- -----2003-----
EQUITY %
Equity gearing 0 41,3
Equity/outside
capital 0 70,1
LIQUIDITY
Current ratio 0 1,2
Acid test 0 0,9
RATES OF RETURN %
Total assets 0 14,1
Shareholders equity 0 34,2
Pre tax margin % 0 9,6
Turnover rate 0 147,8
(x
1.000)
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Working capital 0 20.625
Shareholders equity + Equalization acc. 0 96.690
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RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)