MIRA
INFORM REPORT
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Report Date : |
6th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
USTER TECHNOLOGIES AG |
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Registered Office : |
Wilstrasse 11, 8610 Uster/ZH, Switzerland |
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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 : |
Manufacturing and Distributing machines. |
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 1.000.000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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overall
assessment: |
250 |
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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*: |
.-- |
* individual credit limit is to be understood as the highest
possible engagement for a supplier delivering goods or rendering services on open terms with an average
respite of 60 days.
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, 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 : 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, ie. 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 susidiary 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 subsiaries 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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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%)