MIRA
INFORM REPORT
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Report Date : |
02.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
CCI AG |
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Registered Office : |
Im Link 11
Postfach 65 8424 Winterthur/ZH |
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Country : |
Switzerland |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
19.02.1997 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and Sale of Components and systems for Power Plants |
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
750.000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Name of the company
CCI AG
Line of Business
Kraftwerkkomponenten
Legal domicile
Im Link 11
8404
Winterthur/ZH
Business address
Im Link 11
Postfach 65
8424 Winterthur/ZH
Switzerland
Telephone: 052 2649500
Fax: 052 2649501
Homepage: www.imiplc.com
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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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No complaints |
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individual
credit limit*: |
EUR 750.000,-- |
GENERAL COMPANY DATA
OFFICIAL DATA:
Legal
form: Joint stock company
Registration: 19-02-1997
First Publication: 25-02-1997
Last
Publication: 28-01-2008
History:
In early 1997,
Sulzer Ltd, Winterthur sold its control valve business for thermal power
stations as well as the maintenance of nuclear power stations - ie. the
business area of the former Sulzer Thermtec AG, to
the
international engineering group IMI plc in Great Britain.
In turn, IMI
merged the acquired activities with the operations of its subsidiary company
Control Components (CCI) in California, USA, and transferred these activities
to the CCI AG, Winterthur. All the affected
co-workers in
Winterthur, Farnborough, Osaka, USA and China changed to IMI.
Share
capital: 10.000.000
Paid up: 10.000.000
Divided
into: 10.000 Registered shares of 1.000
The transfer of registered shares is
restricted by regulations contained in Statutes.
History: 15-04-1997 10.000.000 Capital increase
250.000 Capital by incorporation
Direct Parent
com.: IMI
Plc, Birmingham, United Kingdom/GB with a share of 100.
Company
Management: Guido Friedmann
ACTIVITY
Sector: Manufacture
Activity:
The company is
dedicated to the manufacture and sale of components and systems for power plants
such as, for instance, control valves and systems, nuclear service and
fittings, process control technique and control devices.
Within the IMI
Group the company is part of the Division Fluid Controls.
The CEO of the
whole group is Martin Lamb.
Trading
area: International, Worldwide
Import/Export: The company is active in Import and
Export.
Export: 90% of total turnover
EMPLOYEES
Number of
employees: 230
The CCI Group
employs approximately 1,400 people.
Average number
of employees of the IMI Group at 31 December:
2007: 15'102
2006: 14'738
PAYMENT AND FINANCIAL DATA
PAYMENT EXPERIENCES:
Legal
actions: Position per 06-11-2003.
Report from 06-11-2003, in 8404
Winterthur.
2001 2002 2003
No.
Amount No. Amount
No. Amount
Betreibungen None 0 2 70.542 1 768
Payed 1
341
Rechtsvorschl.
1 70.201 1
768
A current
check of the legal actions requires a document of justification with a
legitimate signature.
There are no
recorded complaints on the business conduct of the company and current
liabilities are settled in an orderly manner.
FINANCIAL DATA:
Financial
position: The financial situation is
good.
Key figures
(in GBP 1.000):
Segment
Regelventile
31.12.2007 31.12.2006
Sales 1'140'000.0 1'043'000.0
Operating Profit/Loss 133'800.0 116'600.0
Depreciation 39'600.0 43'300.0
Investments 41'400.0 35'900.0
Consolidated key figures (in GBP 1.000.000):
IMI Konzern
31.12.2007 31.12.2006 31.12.2005 31.12.2004
12 Months 12 Months 12 Months 12 Months
Sales 1'599.0 1'505.0 1'578.0 1'611.0
Operating Profit/Loss 171.7 155.1 153.9 158.6
Depreciation 49.8 55.7
Profit/Loss 119.9 75.7 16.2 69.3
Cash-Flow 120.0 130.7 108.2 169.7
Investments 49.9 39.7 41.9 50.8
Research/Development 30.7 34.1 29.4
Shareholder funds 412.9 416.6 417.6 550.8
Balance sheet total 1'268.5 1'177.1 1'181.3 1'365.8
CCI AG no
longer releases any revenue figures.
Banker(-s)
UBS Ltd, 8000
Zuerich
Credit Suisse
(CS), 8000 Zuerich
Kommerzbank,
D-Singen
Auditors
KPMG AG,
Zuerich
Premises
The premises
at the above mentioned address arerented.
The real
estate is located on the business premises of Sulzer in Oberwinterthur and
owned by the Sulzer Group.
The group owns
numerous properties. The gross and net book value of the land and buildings
amount to (at 31.12., in ):
Gross book value Net book value
---------------- --------------
2007 154.800.000.-- 82.200.000.--
2006 149.800.000.-- 81.200.000.--
2005 154.200.000.-- 81.900.000.--
2004 193.100.000.-- 109.300.000.--
2003 203.400.000.-- 115.900.000.--
COMPANY AND PERSON RELATIONS
COMPANY CONNECTIONS:
Direct Parent
com.: IMI Plc, Birmingham, United
Kingdom/GB with a share of 100.
Direct
Investments:
CCI, Kyunggi-Do, South Korea/KR.
CCI,
Kyunggi-Do is not a subsidiary company. The latter is rather a
joint venture,
the partner firm is however not known.
BOARD OF DIRECTORS:
John Steele, from United
Kingdom, in
Dinhard/ZH/Switzerland,
President, collective
signature.
Dr. Martin L. Mueller,
from Zuerich, in
Zumikon/ZH/Switzerland,
Member, collective
signature.
MANAGEMENT:
Guido Friedmann, from
Zuerich, in
Winterthur/ZH/Switzerland,
Director, collective
signature.
Marcel Althaus, from
Affoltern im Emmental, in
Rickenbach/ZH/Switzerland,
Authorised signatory,
collective signing
authority.
Peter Hans Ammann, from
Kuessnacht SZ, in
Waldstatt/AR/Switzerland,
Authorised signatory, collective signing
authority.
Hans-Peter Buschor, from
Altstaetten SG, in
Winterthur/ZH/Switzerland,
Authorised signatory,
collective signing
authority.
Peter Glaus, from
Rueschegg, in
Rickenbach/ZH/Switzerland,
Authorised signatory,
collective signing
authority.
Michael Graemiger, from Kirchberg SG, in
Jona/SG/Switzerland,
Authorised signatory,
collective signing
authority.
Denis Grob, from
Zuerich, in Zuerich/ZH/Switzerland,
Authorised signatory,
collective signing
authority.
Ulrich Kaegi, from
Winterthur, in
Winterthur/ZH/Switzerland,
Authorised signatory,
collective signing
authority.
Marcel Kuhn, from
Winterthur, in
Winterthur/ZH/Switzerland,
Authorised signatory,
collective signing
authority.
Thomas Meier, from Reiden, in
Wiesendangen/ZH/Switzerland,
Authorised signatory,
collective signing
authority.
Salvatore Pantano, from
Jonschwil, in
Eschlikon/TG/Switzerland,
Authorised signatory,
collective signing
authority.
Frank Rombach, from
Germany, in Oehningen/Germany,
Authorised signatory, collective
signing
authority.
Tobias Zieger, from
Germany, in
Rielasingen-Worblingen/Germany,
Authorised signatory,
collective signing
authority.
PERSONNEL INFORMATION
Guido
Friedmann is married to a nee Muery and lives at the address Bacheggliweg 1 in
Winterthur. He is an engineer by profession.
The top-level
members of the management enjoy a good reputation in business affairs.
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%)