MIRA
INFORM REPORT
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Report Date : |
28.06.2007 |
IDENTIFICATION DETAILS
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Name : |
TESA SA |
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Registered Office : |
Rue du Bugnon 38 1020 Renens/VD |
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Country : |
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Date of Incorporation : |
21-06-1945 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture of measuring instruments |
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 2.500.000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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assessment: |
payments: |
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The business conduct is considered very good and the current
liabilities are fulfilled on time. |
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Individual
credit limit*: |
EUR 2.500.000.-- |
Name
TESA SA
Line of Business
Instruments et systemes de mesure
Legal domicile
Rue du Bugnon 38
1020 Renens/VD
Switzerland
Telephone: 021 6331600
Fax: 021 6357535
Homepage: www.tesabs.ch
E-Mail: tesainfo@ch.bnsmc.com
CREDIT ADVICE
Requested credit: EUR
2.500.000,--
Credit opinion:
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: 21-06-1945
First Publication: 25-06-1945
Last Publication: 12-01-2007
Share capital: 7.900.000
Paid up: 7.900.000
Divided into: 7.900 Registered shares of 1.000
History: 21-12-1995 7.900.000 Capital increase
7.350.000 Previous
capital
Direct Parent com.:
Company Management: Francois
Gabella
Registered name 13-01-2003 TESA SA
07-01-2003 TESA SA
03-03-1998 Brown & Sharpe
Tesa SA
09-01-1996 Tesa Brown &
Sharpe SA
Previous
Tesa SA
ESTABLISHMENT DETAILS
Additional address: Rte de
Lausanne 20, 1180 Rolle
Additional address: Rue de la
Concorde 31, 2400 Le Locle
ACTIVITY:
Line of business: Manufacture of
measuring instruments
Sector:
Manufacture
Activity:
The company is involved in the manufacture and sale of measuring
instruments and systems, especially measuring instruments for large dimensions.
TESA SA has a catalog of more than 5,000 measuring instruments and
systems.
The company has been part of the Swedish-based technology group Hexagon.
Production facilities are located in the
The company has been certified ISO 9001.
Products:
- Calipers
- External micrometers
- Internal measurement
- Electronic indicators, dial gauges, precision indicators
- Lever-type dial test indicators
- Comparative measurement
- Measuring stands and auxiliary fixtures
- Straightness, angle and inclination measurement
- Length and angle standards
- Calibration equipment
- Surface roghness testing
- Height gauges
- Electronic length measuring equipment
- Air gauge systems for diameter measurement
- Optical measurement
- Coordinate measuring machines
Tesa SA disposes of a showroom in 8102 Oberengstringen, Kirchweg 129.
In addition the company has further branch outlets in
Export : 85% of total turnover
Significance: The company is well known worldwide. It is one of the
leading companies in its business sector.
EMPLOYEES:
Number of employees: 500
Tesa employs 500 people, of whom 150 outside
PAYMENT AND FINANCIAL DATA
PAYMENT EXPERIENCES:
Legal actions: No legal actions, distraints or loss certificates
registered.
Report from
29-09-2006, in 1000
2004 2005 2006
No. Amount No.
Amount No. Amount
Betreibungen None 0 None 0 None 0
Pfaendungen
Verlustscheine
Report from 05-09-2006, in
1000 Lausanne.
2004 2005 2006
No. Amount No.
Amount No. Amount
Betreibungen None 0 None 0 None 0
Pfaendungen
Verlustscheine
A current check of the legal actions requires a document of
justification with a legitimate signature.
The business conduct is considered very good and the current liabilities
are fulfilled on time.
FINANCIAL DATA:
Financial position: The
financial affairs are considered good and in order.
Financial Statements: The company provides no financial statements.
Key figures (in CHF 1.000.000):
Tesa
31.12.2006 31.12.2005
Estimates Estimates
Sales
130.5 115.0
Consolidated key figures (in SEK 1.000.000):
Groupe Hexagon
31.12.2006 31.12.2005
31.12.2004 31.12.2003
Sales 13'469.0 9'637.0
8'256.0 7'103.0
Profit/Loss 1'280.0 618.0 357.0 221.0
Balance
sheet total 18'548.0 18'642.0
7'330.0 5'926.0
7'862 6'111 5'935 5'401
Tesa SA Renens publishes no financials.
In February 1999, the company acquired by universal succession assets
and liabilities from Compac SA in Vernier.
Banker(-s): UBS Ltd, 1000
Credit Suisse
(CS), 1000
Cantonal Bank
of Vaud (BCV), 1000
Auditors: Ernst & Young
SA, Petit-Lancy
Property: Location: Rue du Bugnon 38, Renens
Object: Business premises
The real estate is comprised of a main office building and a
manufacturing facility.
Fiscal taxation: Year Income Net Worth
1993/1994 0 18.411.000
COMPANY AND PERSON RELATIONS
COMPANY CONNECTIONS:
Direct Parent com.:
Shareholder(s):
In 1967 Tesa was acquired by the American-based Brown & Sharpe. In
2000, Tesa was sold to the Swedish-based Hexagon Group.
Hexagon is a global technology group with strong market positions in
measurement technologies and polymers and is represented in 30 countries.
The group is listed on the Stockholm Stock Exchange and the SWX Swiss
Exchange.
In 2006, the group acquired the company "B & S Messtech
SA" in Crissier, rebranded Hexagon Metrology SA on 28 February 2006.
Direct Investments:
Pierre Roch Sarl, Rolle/VD (100.0%).
Sur Mesure SA, France/FR.
Tesa France SA,
Associated companies: hexagon Metrology SA, Crissier/VD, Switzerland/CH
Pierre Roch SARL,
Rolle/VD, Switzerland/CH
BOARD OF DIRECTORS:
Francois Gabella, from Montpreveyres, in Buchillon/VD/Switzerland,
President, collective signature.
Catherine Zagel, from
Secretary, collective signature.
Norbert Hanke, from
MANAGEMENT:
Marc Bila, from
Authorised signatory, collective signing authority.
Pierre-Alain Haenggeli, from Muehleberg, in Echallens/VD/Switzerland,
Authorised signatory, collective signing authority.
Pascal Jordil, from Granges (Veveyse), in Ecoteaux/VD/Switzerland,
Authorised signatory, collective signing authority.
Pierre
Moraschinelli, from Biere, in Renens/VD/Switzerland,
Authorised signatory, collective signing authority.
Gil Mueller,
from Sigriswil, in Vuisternens-Ogoz/FR/Switzerland,
Authorised signatory, collective signing authority.
Francois Pollicino, from Eschenbach SG, in Etoy/VD/Switzerland,
Authorised signatory, collective signing authority.
Jean-Claude Reymond, from Lieu, in Chavannes-pres-Renens/VD/Switzerland,
Authorised signatory, collective signing authority.
Jacques Thouanel, from
Authorised signatory, collective signing authority.
PERSONNEL INFORMATION:
Francois Gabella lives in 1164 Buchillon, Villa Esterel.
He is an engineer by profession. At the beginning of April 2006 he took
over the position of general director, following Antonio Aparicio who had
served the company for 32 years, of which 15 years in the top management.
The top-level members enjoy a good reputation in business affairs.
FURTHER MANDATES:
Francois Gabella:
- Fondation Bourg-Dessus, Renens
- Fondation LPP de TESA SA, Renens
- Fondation pour les maladies digestives et hepatiques,
- Hexagon Metrology SA, Crissier
- Pierre Roch SARL, Rolle
COMMENTS:
TESA SA is to expand its activities towards new measuring technologies.
In order to meet the challenge from the Asian market Tesa is to launch
measuring instruments and systems of the highest possible added value under the
label "Swiss made".
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%)