MIRA
INFORM REPORT
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Report Date : |
01.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
USTER TECHNOLOGIES AG |
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Formerly Known as : |
HERCULES HOLDING AG |
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Registered Office : |
Wilstrasse 118610 Uster/ZH |
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Country : |
Switzerland |
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Date of Incorporation : |
11.06.2006 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturer of Machine Works |
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
1.000.000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Overall assessment:
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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 1.000.000,-- |
Name
Uster Technologies AG
Legal domicile
Wilstrasse 11, 8610 Uster/ZH, Switzerland
Telephone: 043
3663636
Fax:
043 3663637
Homepage:
www.uster.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
Registration:
11-06-2006
First Publication:
10-11-2006
Last Publication: 31-10-2007
History
In 2003, the
company Polyusus AG bought the Zellweger Luwa Group for 160 Mio. Swiss Francs.
After increasing the share capital from CHF 100'000 to CHF 15.45 Mio., the name
has been changed to Uster Technologies AG.
Furthermore the
worldwide Zellweger-companies and divisions have been taken over and integrated
into the "new" company.
On 19.06.2007 the company Hercules Holding AG merged with Uster Technologies AG.
Since 19.10.2007 the shares of Uster Technologies AG are traded at
SWX Swiss Stock Exchange. The issue price was at CHF 52.-.Uster had issued
3'397'507 registered shares on the market. The company had taken up a credit,
amount CHF 100 mio, for this purpose.
Share capital : 65.600.000
Paid up : 65.600.000
Divided into : 6.560.000 Shares of 10
History : 18-12-2006 45.600.000 Capital increase
11-12-2006
37.600.000 Capital increase
100.000 Previous capital
Shareholders : This is a publically quoted company.
The shares
are held by a large number of
shareholders.
Company Management: Dr.
Geoffrey Scott
Registered name 25-06-2007 Uster Technologies AG
Previous Hercules Holding AG
ACTIVITY
Line of business:
machine works
Sector: Manufacture
Activity:
The company is engaged in the manufacturing and distribution of
machines
and instruments in the textile measuring technology.
EMPLOYEES
Number of employees: 520
PAYMENT AND FINANCIAL DATA
PAYMENT EXPERIENCES:
Legal actions:
Information only available against proof of interest.
There are no complaints about the mode of payment and business
conduct.
FINANCIAL DATA
Financial position: The
financial situation is good.
Key figures (in CHF 1.000):
31.12.2006 31.12.2005 31.12.2004
Sales 160'000.0 160'000.0 141'000.0
Profit/Loss
30'000.0
Takeover from: Uster
Technologies AG
8610 Uster/ZH
Type:
Take over as a result of merger
Registered on: 19-06-2007
Contract date:
18-06-2007
Balance Sheet per:
31-12-2006
Assets:
95.453.000
Liabilities:
80.224.000
Contribution in kind: Uster Technologies AG, Uster
Type:
Proposed take over on incorporation
Registered on:
19-06-2007
Take over price:
182.015
Contribution in kind: Uster Technologies AG, Uster
Type:
Contribution in kind and take over
Registered on:
19-06-2007
Contract date:
07-11-2006
Take over price:
288.000.000
Contribution in kind: Uster Technologies AG, Uster
Type:
Proposed take over on incorporation
Registered on:
19-06-2007
Take over price:
288.000.000
Intended takeover in kind: 153,799 registered shares par
value CHF 100 per share from Uster
Technologies AG, Uster, for the maximum price of CHF 288,000,000.
Banker(-s): UBS
Ltd, 8000 Zuerich
Auditors: Ernst
& Young AG, Zuerich
COMPANY AND PERSON RELATIONS
COMPANY CONNECTIONS:
Shareholder(s):
Alpha Beteiligungsberatung
GmbH & Co. KG,
Frankfurt, Germany/DE.
Up to the present
point of time, majority shareholder was the company Alpha Beteiligungsberatung
GmbH und Co. KG. Dr. Geoffrey Scott holds a stake of 2.72% and the other
members of the Board of Directors and the
managing board
hold a stake of 6.83% in the share capital.
The exact proportionality of the shareholders are not exactly
known.
Direct Investments
Uster Technologies (India) Pvt Ltd, Bangalore,
India/IN.
Uster Technologies (Shanghai) Co. Ltd, Shanghai,
China/CN.
Uster Technologies (Thailand) Ltd, Bangkok,
Thailand/TH.
Uster Technologies Inc, Knoxville, America/US.
Uster Technologies Inc, Charlotte, America/US.
Uster Technologies Sulamericana Ltda, Alphaville,
Brazil/BR.
Furthermore there are 4 other subsidiaries in:
- Osaka, Japan
- Suzchou, China
- Istanbul, Turkey
- Mexico City, Mexico
BOARD OF DIRECTORS
Max-Ulrich Zellweger, from Basel, Trogen, in
Meggen/LU/Switzerland,
President, collective signature.
Dr. Ulrich Geilinger, from Winterthur, Kuesnacht,
in Kuesnacht/ZH/Switzerland,
Vice President, collective signature.
Barry James Mulady, from United Kingdom, in East
Sussex/United Kingdom,
Member, collective signature.
Harald Roenn, from Germany, in Wiesbaden/Germany,
Member, collective signature.
Geoffrey Scott, from United Kingdom, in
Zollikon/ZH/Switzerland,
Member, collective signature.
MANAGEMENT
Richard Furter, from Zug, in Zug/ZG/Switzerland,
Authorised signatory, collective signature.
Harold Hoke, from StA der USA, in
Uster/ZH/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
Max-Ulrich Zellweger de Roguin lives at the Dreilindenstrasse 34,
in
Meggen.
Scott Geoffrey, born in 1954, is resident at the address Untere
Allmend
10 in 8702 Zollikon.
There are no detrimental reports on their business conduct. .
FURTHER MANDATES
Max-Ulrich Zellweger:
- Fr. Sauter AG, Basel
- Fr. Sauter Holding AG, Basel
- Pacific Consult AG, Zuerich
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%)