MIRA
INFORM REPORT
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Report Date : |
17.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
Huntsman Advanced Materials (Switzerland) GmbH |
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Registered Office : |
Postfach, 4002 Basel/BS |
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Country : |
Switzerland |
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Date of Incorporation : |
10-07-2003 |
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Legal Form : |
Limited
Liability Company |
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Line of Business : |
Production and sale of special chemicals |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
EUR 125.000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
detail
assessment: |
payments: |
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There are no complaints about the mode
of payment and business conduct. |
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Individual
credit limit*: |
EUR 125.000.-- |
Name
Huntsman Advanced Materials (Switzerland)
GmbH
Line of Business
Chemikalien
Legal domicile
Klybeckstrasse 200
4057 Basel/BS
Business address
Postfach
4002 Basel/BS
Switzerland
Telephone: 061 9663333
Fax: 061 9663334
Homepage: www.huntsman.com
CREDIT ADVICE
Credit opinion: A maximum credit of EUR 125.000 is considered in order.
This credit advice is based on information
available at the time of conducting the research, being the above indicated
date.
All amounts in this report are given in
Swiss Francs (CHF) unless otherwise stated.
GENERAL COMPANY DATA
OFFICIAL DATA:
Legal form: Limited
liability company
Registration: 10-07-2003
First Publication: 17-07-2003
Last Publication: 29-08-2006
Created by: The company
was created by a change in legal status
Previous company: Vantico
AG
4057
Basel/BS
Year
founded: 2000
Legal
form: Joint stock company
Original capital: 1.500.000
Paid up: 1.500.000
Direct Parent com.: Huntsman
Advanced Materials (Netherlands) BV,
Rotterdam,
Netherlands/NL with a share of 100%.
Company Management: Herve Udriot
Registered name 02-02-2004
Huntsman Advanced Materials Switzerland) GmbH
Previous Vantico GmbH
ACTIVITY:
Line of business: Chemicals
production
Sector: Manufacture
Activity:
The company is involved in the production and
sale of special chemicals containing polymers or similar substances, i.e.
adhesives or tooling materials.
Locations: Location of branches: Monthey.
The branch in Monthey is located at the
address rte de l'Ile-au-Bois.
Import/Export: The company is active in
Export, but not in Import.
EMPLOYEES:
Number of employees: Personnel information was not made available
The overall Huntsman Group employs more
than 15,000 people worldwide.
PAYMENT AND FINANCIAL DATA
PAYMENT EXPERIENCES:
Legal actions: Information only
available against proof of interest with a valid signature.
There are no complaints about the mode of
payment and business conduct.
For large-scale financial transactions the
company should be capable of providing appropriate capital guarantees or
sureties.
FINANCIAL DATA:
Financial position: The financial situation of the company is
considered satisfactory.
Financial Statements: The company does not
disclose any financial statements.
Consolidated key figures (in USD 1.000.000):
Huntsman Konzern
31.12.2005
31.12.2004 31.12.2003 31.12.2002
12 Months 12 Months 12
Months 12 Months
Sales 12'961.6
11'426.4 7'018.6 2'661.0
Operating Profit/Loss 813.9
408.2 179.1 66.3
Depreciation 500.8
536.8 353.4 152.7
Profit/Loss -34.6
-227.7 -319.8 -22.2
Cash-Flow 974.1
180.8 225.4
Investments 338.7
226.6 191.0 70.2
Research/Development 95.5
96.2 77.6
Shareholder funds 1'520.6
-382.0 -187.7 -197.6
Balance sheet total 8'870.5
9'423.5 8'737.4 2'747.2
Key figures of the Huntsman Group for the
first six months of fiscal 2006 (as of 30 June, in millions of US$):
30.06.2006 30.06.2005
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Revenues 5,531.6 6,688.8
Operating income 502.9
637.2
Net income 331.9 60.3
Takeover from: Vantico AG
4057
Basel/BS
Type: Takeover
as a result of reorganisation
Registered on: 10-07-2003
Balance Sheet per: 01-07-2003
Takeover per: 17-07-2003
Assets: 431.661.620
Liabilities: 325.331.278
Banker(-s): UBS Ltd, 4000 Basel
Credit Suisse (CS),
4000 Basel
Auditors:
Deloitte AG, Basel
Real estate property: Real estate is
owned.
Property: Location: Klybeckstrasse 200, Basel
Object:
Business premises
The current value and the level of the
potential mortgage are not known.
Fiscal taxation : No information is
available due to the local tax authority regulation.
COMPANY AND PERSON
RELATIONS
COMPANY CONNECTIONS:
Direct Parent com.: Huntsman Advanced Materials (Netherlands) BV,
Rotterdam, Netherlands/NL with a share of 100%.
The Huntsman Group has over 80 production
sites in over 30 countries and supplies different end-user with raw materials
for the manufacturing of speciality chemicals, basic chemicals, pigments,
plastics, etc.
PARTNER:
Huntsman Advanced Materials (Netherlands ,
in Rotterdam/Netherlands,
Partner, without signing authority.
Capital share: CHF 1'500'000.--.
MANAGEMENT:
Justin Philipson, from United Kingdom, in
Overijse/Netherlands,
General Manager, sole signature.
Christophe Struyvelt, from Belgium, in
Pellenberg/Netherlands,
General Manager, sole signature.
Herve Udriot, from Monthey, in
Villeneuve/VD/Switzerland,
General Manager, sole signature.
Georges Coutaz, from St-Maurice, in St-Maurice/VS/Switzerland,
Authorised signatory, collective
signature.
Dominique Decaillet, from Salvan, in
Fully/VS/Switzerland,
Authorised signatory, collective
signature.
Andre Genton, from France, in
Riedsheim/France, Authorised signatory, collective signature.
Juergen K.U. Herzke, from Germany, in
Wehr/Germany,
Authorised signatory, collective
signature.
Alessandro Schiabello, from Italy, in Versoix/GE/Switzerland,
Authorised signatory, collective
signature.
PERSONNEL INFORMATION:
Herve Udriot lives at the address rte de
la Corbaudaz in 1844 Villeneuve.
There are no detrimental reports on the
responsible persons' business conduct.
COMMENTS:
The consolidated financials for the
complete 2006 fiscal year are not available as yet.
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%)