MIRA INFORM REPORT

 

 

Report Date :

20.05.2008

 

 

IDENTIFICATION DETAILS

 

Name :

ERSOL SOLAR ENERGY AG

 

 

Registered Office :

Wilhelm-Wolff-Str. 23 99099 Erfurt

 

 

Country :

Germany

 

 

Date of Incorporation :

12.03.1997

 

 

Com. Reg. No.:

HRB 112186

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Engineering Activities for Projects in specific Technical Fields

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

EUR 250.000,00.

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

 

name & address

 

ErSol Solar Energy Aktiengesellschaft

Wilhelm-Wolff-Str. 23

99099 Erfurt

Telephone: 0361/2195100

Telefax:   0361/21951133

Homepage:  www.ersol.de

E-Mail:    info@ersol.de

 

 

VAT no.        

 

DE213500663

 

 

Tax ID number 

 

151/100/01174

 

 

SOLVENCY RATING  

 

1,3

 

 

CONCLUSION

 

The maximum credit is EUR 250.000,00.

Business relations are permissible.

 

 

LEGAL FORM          

 

Public limited company

 

 

Date of foundation

 

12.03.1997

 

 

Begin of Business activities

 

12.03.1997

 

 

Registered on    

 

11.02.2002

Commercial Register: Local court 07745 JENA

 under:               HRB 112186

 

 

Share capital                         

 

EUR         21.447.048,00

 

 

Member of the Board of Directors

 

Ekhard von Dewitz

Käthe-Niederkirchner-Str. 31

10407 Berlin

authorized to jointly represent the company

born 10.07.1965

Occupation: Businessman

 

Member of the Board of Directors:

Dr. Claus Beneking

Hörnhang 37

52074 Aachen

born 25.08.1955

 

Member of the Board of Directors:

Peter Schneidewind

99098 Erfurt

born 27.12.1967

 

Member of the Board of Directors:

Jürgen Pressl

An der Schafe 16

99334 Elxleben

born 04.11.1966

Occupation: Fully qualified management

expert

 

 

Proxy

 

Dr. Rüdiger Schulz

99438 Legefeld

authorized to jointly represent the company

born 06.05.1967

 

Proxy:

Franz Ziering

99084 Erfurt

authorized to jointly represent the company

born 20.06.1968

 

Further functions/participations of Ekhard von Dewitz (Member of the Board of Directors)

 

 Manager:

ErSol Thin Film GmbH

Sonnentor 2

99098 Erfurt

Legal form: Private limited company

Share capital:     EUR          3.999.950,00

Reg. Data:  21.12.2005

HRB 113860

07745 JENA

 

 

Further functions/participations of Claus Beneking (Member of the  Board of Directors)

 

 Shareholder:

Aixcell Solar Technology GmbH

Helmholtzstr. 18

99425 Weimar

Legal form: Private limited company

Share capital:     EUR             25.000,00

Share:             EUR             22.600,00

Reg. Data:  05.03.2003

HRB 112726

07745 JENA

 

Manager:

Aixcell Solar Technology GmbH

Helmholtzstr. 18

99425 Weimar

Legal form: Private limited company

Share capital:     EUR             25.000,00

Reg. Data:  05.03.2003

HRB 112726

07745 JENA

 

 

 

 

 

 

 

Further functions/participations of Jürgen Pressl (Member of the Board of Directors)

 

Shareholder:

Erneuerbare Energien Engineering GmbH

In den Weiden 9

99099 Erfurt

Legal form: Private limited company

Share capital:     EUR             25.000,00

Share:             EUR              5.000,00

Reg. Data:  17.03.2003

HRB 112745

07745 JENA

Employees:                                 2

 

Manager:

QSIL Beteiligungsgesellschaft mbH

98704 Langewiesen

Legal form: Private limited company

dissolved

Share capital:     EUR             27.000,00

Reg. Data:  24.08.1994

HRB 303194

07745 JENA

 

Manager:

ASi Industries GmbH

August-Broemel-Str. 6

99310 Arnstadt

Legal form: Private limited company

Share capital:     EUR          2.001.000,00

Reg. Data:  08.04.2002

HRB 112284

07745 JENA

 

Manager:

ASi SILIZIUMTECHNOLOGY GmbH

August-Broemel-Str. 6

Post Box: 1363

99310 Arnstadt

Legal form: Private limited company

Share capital:     EUR             25.000,00

Reg. Data:  07.08.2002

HRB 112454

07745 JENA

 

 

Further functions/participations of Peter Schneidewind (Member of  the Board of Directors)

 

Manager:

aimex-solar GmbH

In der Hochstedter Ecke 2

99098 Erfurt

Legal form: Private limited company

Share capital:     EUR            250.000,00

Reg. Data:  02.12.2004

HRB 113474

07745 JENA

 

Manager:

ErSol Thin Film GmbH

Sonnentor 2

99098 Erfurt

Legal form: Private limited company

Share capital:     EUR          3.999.950,00

Reg. Data:  21.12.2005

HRB 113860

07745 JENA

 

 

BUSINESS HISTORY

 

 Beginning of business activities:12.03.1997

 12.03.1997           ErSol Solarstrom GmbH & Co KG Erfurter

                      Solarzentrum

                      Wilhelm-Wolff-Str. 23

                      99099 Erfurt

                      Ltd partnership with priv. ltd. Company as

                      General partner

 01.07.2001           ErSol Solar Energy Aktiengesellschaft

                      Wilhelm-Wolff-Str. 23

                      99099 Erfurt

                      Public limited company

 11.2001              ErSol Solar Energy Aktiengesellschaft

                      Konrad-Zuse-Str. 15

                      99099 Erfurt

                      Public limited company

 01.07.2003           ErSol Solar Energy Aktiengesellschaft

                      Wilhelm-Wolff-Str. 25

                      99099 Erfurt

                      Public limited company

 

 

 

 

 

 

BUSINESS ACTIVITIES

 

 74205

 ENGINEERING ACTIVITIES FOR PROJECTS IN SPECIFIC TECHNICAL FIELDS

 31200

 MANUFACTURE OF ELECTRICITY DISTRIBUTION AND CONTROL APPARATUS

 51873

 Wholesale of other equipment and accessories for machines and

 technical supplies

 

 

 PARTICIPATION

 

Shareholder:

ASi Industries GmbH

August-Broemel-Str. 6

99310 Arnstadt

Legal form: Private limited company

Share capital:     EUR          2.001.000,00

Share:             EUR          2.001.000,00

Reg. Data:  08.04.2002

HRB 112284

07745 JENA

Employees:                               156

 

Shareholder:

ErSol Thin Film GmbH

Sonnentor 2

99098 Erfurt

Legal form: Private limited company

Share capital:     EUR          3.999.950,00

Share:             EUR          2.000.000,00

Reg. Data:  21.12.2005

HRB 113860

07745 JENA

Employees:                               126

 

Shareholder:

aimex-solar GmbH

In der Hochstedter Ecke 2

99098 Erfurt

Legal form: Private limited company

Share capital:     EUR            250.000,00

Share:             EUR            250.000,00

Reg. Data:  02.12.2004

HRB 113474

07745 JENA

 

 

FINANCIAL INFORMATION

 

 Solvency rating:      1,3

 Payment experience:  cash discount/within agreed terms

 

 

 REAL ESTATE

 

 Type of ownership:   Tenant

 Address              Wilhelm-Wolff-Str. 23

                      99099 Erfurt

 

 Land register documents were not available.

 

 

BANKERS

 

 COMMERZBANK, ERFURT

 Sort. code: 82040000, Account No: 113686000

 DEUTSCHE BANK, ERFURT

 Sort. code: 82070000, Account No: 1310242

 BAYER HYPO- UND VEREINSBANK, JENA

 Sort. code: 83020087, Account No: 357682029

 SPARKASSE MITTELTHÜRINGEN, ERFURT

 Sort. code: 82051000, Account No: 130039934

 DEUTSCHE KREDITBANK, GERA

 Sort. code: 12030000, Account No: 1001155

 

 

 FIGURES

 

 Financial year:      01.01. - 31.12.

 Turnover:                      2006                 EUR         95.590.396,00

                                    2007                 EUR        114.735.873,00

 Share capital:                                       EUR         21.447.048,00

 Value of stocks:                                                EUR          4.537.035,00

 Equipment:                                           EUR         36.992.254,00

 Ac/ts receivable:                                               EUR          8.430.842,00

 Liabilities:                                             EUR          7.965.420,00

 - shortterm:                                          EUR          7.965.420,00

 Employees:                                                                   293

 - Salaried employees:                                                    96

 - Workers:                                                                    197

 

 Approximate figures are given.


 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions