MIRA
INFORM REPORT
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Report Date : |
12.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
Uster Technologies AG |
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Registered Office : |
Wilstrasse 11, 8610 Uster/ZH |
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Country : |
Switzerland |
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Date of Incorporation : |
28-12-2000 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Machine Manufacturer |
RATING & COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
EUR 1000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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detail assessment:
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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 1.000.000.-- |
Name
Uster Technologies AG
Line of Business
Textile Messtechnik
Legal domicile
Wilstrasse 11
8610 Uster/ZH
Switzerland
Telephone :
044 3663636
Fax :
044 3663637
Homepage :
www.uster.com
E-Mail :
sales@uster.com
CREDIT ADVICE
Credit opinion: A maximum credit of EUR 1.000.000 is considered in order.
This credit advice is based on information
available at the time of conducting the research, 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 :
Joint stock company
Registration : 28-12-2000
First Publication : 05-01-2001
Last Publication : 22-01-2007
History:
In 2003, Polyusus AG acquired the
Zellweger Luwa Group for CHF 160 million.
Following the capital increase from CHF
100,000.-- to CHF 15.45 million on 27.01.2003, Polyusus AG, at the same time
rebranded Uster Technologies AG,
acquired the following companies and business segments (acquisition of assets
upon formation):
- Zellweger Uster GmbH, Duesseldorf
- Zellweger Uster, Inc., USA Knoxville
- Zellweger Uster (India) Pvt. Ltd., Bangalore/India
- Zellweger Uster Leasing Inc., USA-Knoxville
- Zellweger Uster (Sulamericana) Ltda., Sao
Paulo/Brazil
- Zellweger Uster (Thailand) Ltd.,
Bangkok/Thailand
- Zellweger Uster (Shanghai) Co. Ltd.,
Shanghai/China
For the above mentioned acquisitions the
company intended to pay a maximum of CHF 33,423,000.--.
Following the capital increase, Polyusus AG also intended to acquire
assets and liabilities, i.e. the Zellweger Uster Division of Zellweger Uster
KK, Osaka/Japan, from Zellweger Luwa AG, as well as assets and liabilities, ie.
the Zellweger Uster Division, from Luwa Mexico S.A. de C.V., in Puebla (Mexico)
via a Mexican-based subsidiary to be established, for the maximum price of CHF
141,577,000.--.
USTER is a registered trademark.
Share capital : 15.450.000
Paid up :
15.450.000
Divided into : 154.500 Registered shares of 100
History :
21-01-2003 15.450.000 Capital
increase
100.000
Capital by incorporation
Direct Parent com.: Hercules Holding AG, 6300 Zug,
Switzerland/CH with a share of 100%.
Company Management: Geoffrey
Scott
Registered name 27-01-2003 Uster Technologies
AG
Previous
Polyusus AG
Registered domicile 21-01-2003,
8610 Uster/ZH
Previous,
8000 Zuerich/ZH
ACTIVITY:
Line of business: Machine
manufacturer
Sector: Manufacture
Activity:
The company is dedicated to manufacturing
and distributing machines and facilities in the field of textile measuring
devices.
EMPLOYEES:
Number of employees: 470
PAYMENT AND FINANCIAL DATA
PAYMENT EXPERIENCES:
Legal actions: No legal actions or distraints are registered.
Report from 07-02-2003, in 8610
Uster.
A current check of the legal actions
requires a document of justification with a legitimate signature.
There are no complaints about the mode of
payment and business conduct.
FINANCIAL DATA:
Financial position: The financial situation is good.
Financial Statements: The company does not
disclose any financial statements.
Key figures (in CHF 1.000.000):
Uster Technologies AG
31.12.2004
Sales 141.0
Sales figures are no more released.
Following the capital increase at
21.01.2003, the company acquired several equity stakes from companies of the
former Zellweger Group.
Banker(-s) : UBS Ltd,
Auditors : Ernst & Young AG, Zuerich
COMPANY AND PERSON RELATIONS
COMPANY CONNECTIONS:
Direct Parent com.: Hercules Holding AG, 6300 Zug,
Switzerland/CH with a share of 100%.
Direct Investments:
Uster Technologies (India) Private Ltd,
Bangalore, India/IN (100.0%).
Uster Technologies (Shanghai) Co. Ltd,
Shanghai, China/CN (100.0%).
Uster Technologies (Sulamericana) L,
Alphaville, Brazil/BR (100.0%).
Uster Technologies (Thailand) Ltd,
Bangkok, Thailand/TH (100.0%).
Uster Technologies Finance AG, Uster/ZH.
Uster Technologies Inc, Knoxville,
America/US (100.0%).
Uster Technologies Inc., Charlotte,
America/US.
In addition exist four other subsidiaries
in the following countries:
- Osaka, Japan
- Suzchou, China
- Istambul, Turkey
- Mexico City, Mexico
BOARD OF DIRECTORS:
Geoffrey Scott, from United Kingdom, in Zollikon/ZH/Switzerland,
Sole Member, Director, sole signature.
MANAGEMENT:
Richard Furter, from Dottikon, in Zug/ZG/Switzerland,
Authorised signatory, collective
signature.
Renato G. Murk, from Muestair, in Egg/ZH/Switzerland,
Authorised signatory, collective
signature.
Barbara Eva Mueller-Junker, from St. Gallenkappel, in
Zuerich/ZH/Switzerland,
Authorised signatory, collective
signature.
Rafael Storz, from Germany, in Pfaeffikon/ZH/Switzerland,
Authorised signatory, collective
signature.
PERSONNEL INFORMATION:
Scott Geoffrey, born in 1954, lives at the
address Unter Allmend 10, 8702 Zollikon.
There are no detrimental reports on his
business conduct.
FURTHER MANDATES:
Scott Geoffrey:
- Hercules Holding AG, Zug
- Uster Technologies Finance AG, Uster
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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