MIRA
INFORM REPORT
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Report Date : |
02.07.2007 |
IDENTIFICATION DETAILS
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Name : |
Benninger AG |
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Registered Office : |
Fabrikstrasse, 9240 Uzwil/SG |
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Country : |
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Date of Incorporation : |
02-09-1997 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Textile machine manufacturer |
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 500.000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Detail
assessment: |
Payments: |
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The financial situation
is good |
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Individual
credit limit*: |
EUR 500.000.-- |
Name
Benninger AG
Line of Business
Textilmaschinenfabrik
Legal domicile
Fabrikstrasse
9240 Uzwil/SG
Telephone: 071 9558585
Fax: 071 9558747
Homepage: www.benninger.ch
E-Mail: beninfo@benninger.ch
CREDIT ADVICE
Requested credit: Maximum credit
Credit opinion: A maximum
credit amount of EUR 500.000 can be taken into consideration.
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: Joint
stock company
Registration: 02-09-1997
First Publication: 08-09-1997
Last Publication: 22-03-2007
History:
The company dates back as far as 1859.
Share capital: 3.000.000
Paid up: 3.000.000
Divided into: 30.000
Registered shares of 100
Company Management: Dr. Rudolf
Wehrli
ACTIVITY:
Line of business: Textile machine manufacturer
Sector : Manufacture/Commercial and industrial services
Activity:
The company is dedicated to the manufacturing of textile machines. The
production programme includes weaving preparation and textile finishing
machines as well as tire cord impregnation systems.
A further operation is based in Zell in southern
The company has been certified ISO 9001.
Marks, Production: BENNINGER
Sales distributions: 50
Representatives around the world.
Trading area: Worldwide
Import/Export: The company is active in Import and Export.
Export: 98% of total turnover
Asia, EEC countries,
Import: 35% of total purchases
EEC countries
EMPLOYEES:
Number of employees: 500
In addition the company trains 50 apprentices.
The group employs approximately 750 people.
PAYMENT AND FINANCIAL DATA
PAYMENT EXPERIENCES:
Legal actions: Position per
07-06-2004.
Report from 07-06-2004, in 9240 Uzwil.
2002
2003
2004
No. Amount No. Amount No. Amount
Betreibungen None 0 2 3.129 None 0
Rechtsvorschl. 2 3.129
Report from 07-02-2001, in 9240 Uzwil.
A current check of the legal actions requires a document of
justification with a legitimate signature.
There are no recorded complaints on the business conduct of the company
and current liabilities are settled in an orderly manner.
FINANCIAL DATA:
Financial position: The
financial situation is good.
Financial Statements: The company does not disclose detailed financial
statements.
Key figures (in CHF 1.000):
Benninger AG
31.12.2007 31.12.2006 31.12.2005
31.12.2004
Budget
Sales
200'000.0 230'000.0 230'000.0
144'000.0
The sales increase in 2005 was mainly attributable to the positive
market environment.
Takeover from: Benninger Textile Systems AG
9240 Uzwil/SG
Type: Take over of assets and liabilities
Registered on: 19-04-2006
Contract date: 13-04-2006
Balance Sheet per: 31-12-2005
Assets: 17.861.618
Liabilities: 13.574.805
Takeover from: Benninger Holding AG
9240 Uzwil/SG
Type: Take over of assets and liabilities
Registered on: 19-04-2006
Contract date: 13-04-2006
Balance Sheet per: 31-12-2005
Assets: 5.582.566
Takeover from: Benninger Textile Systems AG
9240 Uzwil/SG
Type: Take over on incorporation
Registered on: 02-09-1997
Balance Sheet per: 31-12-1996
Takeover per: 08-09-1997
Assets: 65.544.000
Liabilities: 57.544.000
Take over price: 8.000.000
Charge on capital: 3.000.000
As receivable: 5.000.000
Banker(-s): Cantonal Bank of St. Gallen, 9000
UBS Ltd, 8000 Zuerich
Auditors: Ernst & Young AG, St. Gallen
Premises: The
premises at the above mentioned address are rented.
Benninger owns numerous properties. Official proprietor is the Benninger
Immobilien AG.
COMPANY AND PERSON RELATIONS
COMPANY CONNECTIONS:
Shareholder(s):
CapVis Equity Partners AG, Zuerich/ZH (85.0%).
Management (15.0%).
With effect of 1 July 2005, the former parent company Benninger Textile
Systems was sold to the management and the Swiss-based equity firm CapVis.
Following this transaction, the activities of the group were organized within
Benninger AG.
Direct Investments:
Benninger India Ltd, Mumbai, India/IN.
Benninger SpA,
Benninger Textile Machinery Co. Ltd,
Benninger has subsidiaries in
BOARD OF DIRECTORS:
Dr. Rudolf Wehrli, from Zuerich, Mammern, in Richterswil/ZH/Switzerland,
President, collective signature.
Rolf Friedli,
from Ursenbach, in Herrliberg/ZH/Switzerland,
Vice President, collective signature.
Daniel Flaig, from St. Gallen, Bassersdorf, in Zug/ZG/Switzerland,
Member, collective signature.
Christian Kuoni, from Maienfeld, in Zeiningen/AG/Switzerland,
Member, collective signature.
Peter Schifferle, from Doettingen, in Hard b.
Weinfelden/TG/Switzerland,
Member, collective signature.
PERSONNEL INFORMATION:
Rudolf Wehrli was born on 24.06.1949. He is married to Maya Wehrli
Brunner and lives at the address Leigrubenstrasse 8 in 8805 Richterswil.
He is managing director by profession.
Rolf Friedli, born in 1961, is married to Ines Friedli and is resident
at the address Alte Dorfstrasse 36 in 8704 Herrliberg.
Daniel Flaig was born on 28.07.1968. He is married to Delphine Flaig
Bezy and is resident at the address Bellevueweg 12 in 6300 Zug.
The top-level members of the management enjoy a good reputation in
business affairs.
FURTHER MANDATES:
Rolf Friedli:
- CapVis Equity Partners AG, Zuerich
- ETAVIS AG,
Zuerich
- Polyusus IX
AG, Zuerich
- Orior AG,
Zuerich
- SBC Equity
Partners SA, Opfikon
etc.
Dr. Rudolf
Wehrli:
- Benninger
Holding AG, Uzwil
- Berner
Kantonalbank, Bern
- Buerki AG,
Oberbipp
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Coltene/Whaledent AG, Altstaetten
- Gurit Holding AG, Wattwil
etc.
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%)