MIRA
INFORM REPORT
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Report Date : |
30.07.2007 |
IDENTIFICATION DETAILS
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Name : |
Varian Medical Systems International AG |
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Registered Office : |
Postfach, 6303 Zug/ZG |
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Country : |
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Date of Incorporation : |
06-11-1959 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Engaged in the trade with medical systems such as
radiographic therapy system for cancer treatment, simulators, management
information, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
EUR 250.000 |
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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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The financial
affairs are considered good and in order. |
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Individual credit
limit*: |
EUR 250.000,-- |
Name
Varian Medical Systems International AG
Line of Business
Medizinische Geraete
Legal domicile
Chollerstrasse 38
6300 Zug/ZG
Business address
Postfach
6303 Zug/ZG
Telephone: 041 7498844
Fax: 041 7403340
Homepage: www.varian.com
CREDIT ADVICE
Requested credit: Maximum
credit
Credit opinion: A maximum
credit of EUR 250.000 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: Joint stock company
First Publication: 06-11-1959
Last Publication: 11-06-2007
Share capital: 400.000
Paid up: 400.000
Divided into: 400 Shares of 1.000
Direct Parent com.: Varian Mecial Systems Inc.,
Company Management: Michael
Sanhu
Registered name
14-04-1999 Varian Medical Systems
International AG
Previous Varian International AG
Registered translations of the Company name:
English Varian Medical Systems
International Ltd
French Varian Medical Systems
International SA
ACTIVITY:
Line of business: Trade with medical systems.
Sector: Wholesale
Activity:
The subject is mainly engaged in the trade with medical systems such as
radiographic therapy system for cancer treatment, simulators, management
information, etc.
The systems are directly delivered from the manufacturing plants abroad
into their main markets in Europe,
Marks, Production: Varian
Locations:
Trading area:
International
EMPLOYEES:
Number of employees: 140
Some 2.570 staff members are employed group-wide.
PAYMENT AND FINANCIAL DATA
PAYMENT EXPERIENCES:
Legal actions: No legal
actions or distraints are registered.
Report from 15-02-2001, in 6300 Zug.
A new check at the legal action authorities requires a written proof of
justified interest.
There are no complaints about the mode of payment and business conduct.
However, the majority of business transactions is effected from outside
of
FINANCIAL DATA:
Financial position: The
financial affairs are considered good and in order.
Key figures (in CHF 1.000):
31.12.2002 31.12.2000
Estimates
Sales 138'000.0 130'000.0
Consolidated key figures (in USD 1.000):
Varian-Gruppe
30.09.2006 30.09.2005
30.09.2004
12 Months 12 Months
12 Months
Sales 1'597'820.0 1'382'557.0
1'235'523.0
Operating
Profit/Loss 353'971.0 304'976.0
256'685.0
Depreciation 23'723.0 21'458.0
20'751.0
Profit/Loss 245'091.0 206'576.0
167'687.0
Cash-Flow 201'758.0 251'797.0
233'910.0
Research/Development 100'408.0 82'063.0
72'106.0
Shareholder
funds 797'253.0 659'027.0
Balance
sheet total 1'511'751.0 1'317'402.0
Banker(-s): Credit Suisse (CS), 6300 Zug
Auditors: PricewaterhouseCoopers AG, Zuerich
Premises: The premises at the above mentioned address are rented.
Real estate property: No real estate is owned.
COMPANY AND PERSON RELATIONS
COMPANY CONNECTIONS:
Direct Parent com.: Varian Mecial
Systems Inc.,
Shareholder(s):
Varian Medical Systems Inc,
The shares of Varian Medical Systems, Inc. are traded at the
Varian Medical Systems, Inc. is one of the leading manufacturers of
radiographical therapy systems and x-ray instruments used for cancer treatment.
On a worldwide scale, the group holds manufacturing sites in North America and
Direct Investments:
Varian Medical Systems Imaging Laboratory GmbH,
Baden/AG (100.0%).
Further group companies exist in
BOARD OF DIRECTORS:
John Wei-Ching
Kuo, from StA der USA, in Saratoga/Uzbekistan,
President, sole signature.
Fritz
Oderbolz, from Tuebach, in Huenenberg/ZG/Switzerland,
Vice
President, sole signature.
Walter Frei,
from Weiningen ZH, in Obfelden/ZH/Switzerland,
Member, sole
signature.
Oscar Gils
Carbo, from StA der USA, in Foster City/America,
Member, sole signature.
MANAGEMENT:
Mario Cavallari, from Alpnach, in Alpnach/OW/Switzerland,
Authorised signatory, sole signing authority.
Ernst Derrer,
from Niederhasli, in Cham/ZG/Switzerland,
Authorised signatory, sole signing authority.
Roger
Leibundgut, from Rueegsau, in Mueswangen/LU/Switzerland,
Authorised signatory, collective signing authority.
Fernando Martin, from Spain, in Unteraegeri/ZG/Switzerland,
Authorised signatory, sole signing authority.
Michael Sandhu, from
Authorised signatory, sole signing authority.
Rolf
Staehelin, from Sommeri, in Schlieren/ZH/Switzerland,
Authorised signatory, sole signing authority.
PERSONNEL INFORMATION:
Mr. Fritz Oderbolz, born on 20.06.1949, lives at Schuermattstrasse 5 in
6331 Huenenburg. He is a commercial by profession.
There are no detrimental reports known on the subject's executives.
FURTHER MANDATES:
Fritz Oderbolz:
- Varian Foundation, Zug
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%)