MIRA
INFORM REPORT
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Report Date : |
26.09.2007 |
IDENTIFICATION DETAILS
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Name : |
Luescher AG |
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Registered Office : |
Dorfstrasse 18, 5725 Leutwil/AG |
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Country : |
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Date of Incorporation : |
05-09-1962 |
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Legal Form : |
Joint Stock
Company |
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Line of Business : |
Involved in
the development and manufacturing of offset, screen, digital and textile
printing machines. |
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 25.000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Business connections are
permissible |
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Detail
assessment: |
Payments: |
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Regular |
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Individual
credit limit*: |
EUR 25.000,-- |
Name
Luescher AG Maschinenbau
Line of Business
Maschinenbau
Legal domicile
Hauptstrasse 246
5725 Leutwil/AG
Business address
Dorfstrasse 18
5725 Leutwil/AG
Switzerland
Telephone: 062 7677677
Fax:
062 7677676
Homepage:
www.luescher.com
E-Mail: mailbox@luescher.com
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: 05-09-1962
Last Publication: 13-07-2007
Created by: By
take over of the previous company.
Previous company: Gebrueder
Luescher
8875 Obstalden/GL
Legal form: Unlimited partnership
History:
The company dates back to 1946.
Share capital: 500.000
Paid up: 500.000
Divided into: 1.000
Special registered shares of 500
The
transfer of registered shares is restricted by regulations contained in
Statutes.
Shareholders:
Company Management: Kurt Steidle
Registered domicile 10-06-1998, 5725 Leutwil/AG
Previous, 8875
Obstalden/GL
ACTIVITY:
Line of business: Offset
and screen printing machines
Sector: Manufacture/Wholesale
Activity:
The Luescher AG is involved in the
development and manufacturing of offset, screen, digital and textile printing
machines.
Marks, Sales: XPose - JeTscreen - JeTprint -
FlexPose
Production operations are located in
Leutwil and Gretzenbach.
In addition the company maintains a
software unit in
Branches are located in the
There also exist about 50 representations
worldwide.
Trading area:
Import/Export: The company is active in Import and
Export.
Export: 95% of total turnover
Import: 20% of total purchases
EMPLOYEES:
Number of employees: 120
The company employs approximately 160
people worldwide.
PAYMENT AND FINANCIAL DATA
PAYMENT EXPERIENCES:
Legal actions: No legal actions, distraints or loss
certificates registered.
Report from
16-08-2006, in 5734 Reinach.
2004 2005 2006
No. Amount
No. Amount
No. Amount
Betreibungen None 0
None 0
None 0
Pfaendungen
Verlustscheine
Report from 09-03-2006, in 5734 Reinach.
2004 2005 2006
No. Amount No. Amount
No. Amount
Betreibungen None 0
None 0
None 0
Pfaendungen
Verlustscheine
Report from 27-02-2006, in 5734 Reinach.
2004 2005 2006
No. Amount No. Amount
No. Amount
Betreibungen None 0
None 0
1 178.342
A current legal action check requires a
written proof of interest.
There are no complaints about the mode of
payment and business conduct.
Account connections remain to be closely
observed.
Result of a supplier interview from
25.08.2005:
-----------------------------------------------
Business relations: several
years
Payment conditions: 30 days net
Mode of payment: 30
to 40 days
Last invoice: on
a regular basis
Annual business volume: approx.
CHF 500,000
Comments: Supplier had to reduce 50% of open
depts.
FINANCIAL DATA:
Financial position: The financial situation of the company is
considered satisfactory.
Financial Statements: The company does not
disclose detailed financial statements.
The liquidity of the company was, according
to our knowledge, until the change of the shareholder, very short. Since this
takeover, the restructuring within the company, the situation seems to have
improved since end of the year 2006.
No insight into the subjects financials is
provided to third parties.
All financial transactions require
adequate securities.
Key figures (in CHF 1.000):
31.12.2003 31.12.2002
Sales 50'000.0 45'000.0
Consolidated key figures (in CHF):
New revenue figures are no more released.
Banker(-s): Neue Aargauer
Bank (NAB), 5000 Aarau
Auditors:
thv AG, Aarau
Real estate property: Real estate is
owned.
Property: Location: Dorfstrasse 18, Leutwil
Object: Business premises
The current value and the level of the
possible mortgage are not known.
Fiscal taxation: No information is available due to the
local tax authority regulation.
COMPANY AND PERSON
RELATIONS
COMPANY CONNECTIONS:
Shareholder(s):
GEP Global Equity Partners Beteiligungs
Management
AG, Wien, Austria/AT.
The new shareholder is a company. This
company has taken over the majority of the shares in the second half of the
year 2006 from family Luescher.
BOARD OF DIRECTORS:
Kurt Jakob Ott, from Basadingen-Schlattingen, in
Ettenhausen/TG/Switzerland,
President, collective signature.
Herbert Roth, from
Vice President, collective signature.
Hans Luescher jun., from Muhen, in Wollerau/SZ/Switzerland,
Member, collective signature.
MANAGEMENT:
Kurt Steidle, from Solothurn, Flumenthal, in Leymen/France,
Authorised signatory, collective
signature.
Martin Tschumi, from Wolfisberg, in Sutz-Lattrigen/BE/Switzerland,
Authorised signatory, collective
signature.
Peter Berner, from Rupperswil, in Rupperswil/AG/Switzerland,
Authorised signatory, collective signing
authority.
Christian Grab, from Rothenthurm, in Emmenbruecke/LU/Switzerland,
Authorised signatory, collective signing
authority.
Astrid Neumann, from
Authorised signatory, collective signing authority.
Markus Thenen, from Muenster-Geschinen, in
Egliswil/AG/Switzerland,
Authorised signatory, collective signing
authority.
Heinz Weideli-Zwingli, from Thun, in
Worb/BE/Switzerland,
Authorised signatory, collective signing
authority.
PERSONNEL INFORMATION:
Kurt Jakob Ott lives at Rebbergstrasse 29
in 8356 Ettenhausen.
He is book-keeper as profession. He is
member of the Board of around 15 companies, in which he merely represents the
interests of the participating members.
Hans Luescher jun. lives with his wife
Rachel, a born Ritschard, at Saeumerstrasse 23 in Wollerau.
There are no detrimental reports on the
responsible persons' business conduct.
FURTHER MANDATES:
Kurt Ott:
- AMG - Alu Metall Guss AG, Gontenschwil
- Alu Menziken Management AG, Menziken
- LAM Leman Asset Management SA, Geneve
- Savest AG, Menziken
- XPOSE Holding AG, Leutwil
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. |
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%)