MIRA
INFORM REPORT
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Report Date : |
05.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
GRAFTECH
SWITZERLAND SA |
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Registered Office : |
Route de Renens 1 1030
Bussigny-pres-Lausanne/VD |
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Country : |
Switzerland |
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Date of Incorporation : |
05.11.1997 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Graphite Electrodes for the Steel and Aluminium Industries |
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 2.500.000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Name of the company
GrafTech
Switzerland SA
Line of Business
Produits en
carbone
Legal domicile
route de
Renens 1
1030
Bussigny-pres-Lausanne/VD
Switzerland
Telephone: 021
8213111
Fax: 021 8213100
Homepage: www.graftech.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 2.500.000,-- |
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: 05-11-1997
First
Publication: 14-11-1997
Last
Publication: 22-07-2008
Share
capital: 6.125.000
Paid up: 6.125.000
Divided
into: 612.500 Registered shares of 10
The transfer of registered shares is restricted by
regulations contained in Statutes.
History: 07-06-2004 6.125.000 Capital increase
29-12-2003
5.125.000 Capital increase
04-12-2003
4.125.000 Capital increase
17-04-2003
3.125.000 Capital increase
28-02-2002
2.625.000 Capital increase
04-01-1998 1.750.000
Capital increase
250.000 Capital by incorporation
Direct Parent com.: GrafTech
International Ltd, Purma, America/US with a share of 100.
Company Management: Juan
Antonio Aranzabal
Registered name 15-01-2008 GrafTech Switzerland SA
Previous UCAR
S.A.
Registered domicile 28-09-2006, 1030 Bussigny-pres-Lausanne/VD
04-03-2000, 1163 Etoy/VD
Previous, 1196 Gland/VD
ACTIVITY
Activity:
GrafTech is
the world's market leader in graphite electrodes for the steel and aluminium
industries.
The company
was initially domiciled in Gland. In April 2000, Ucar relocated its
headquarters to a newly constructed factory in Etoy.
EMPLOYEES
Number of
employees: 45
PAYMENT AND FINANCIAL DATA
PAYMENT EXPERIENCES:
Legal
actions: No legal actions or distraints
are registered.
Report from 17-03-2005,
in 1110 Morges.
0 0 0
No. Amount
No. Amount No.
Amount
Report from 30-12-2003, in 1110 Morges.
2001 2002 2003
No. Amount
No. Amount No.
Amount
Betreibungen
None 0 None 0 1 2.527
Rechtsvorschl.
1 2.527
Report from 21-01-2002,
in 1110 Morges.
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 affairs are
considered good and in order.
Financial Statements:
The company does not disclose any financial statements.
For the
transfer of its activities to the canton of Vaud the company has
benefited from
fundings of the canton of Vaud and the Swiss
Confederation.
This aid is
provided in the form of a ten year tax remission.
Further
financial support has been supplied by public institutions - one
half by Berne,
the other by the canton of Vaud - by paying interest
warrants
effected by GrafTech through its implantation in Switzerland.
Consolidated
key figures (in USD 1.000):
Groupe
GrafTech International
31.12.2007 31.12.2006
31.12.2005 31.12.2004
Sales 1'004'818.0 855'433.0
773'028.0 742'255.0
Profit/Loss 153'701.0 91'334.0
-125180.0 17'041.0
Balance sheet
total 866'701.0 906'201.0
886'820.0 1'067'818.0
Pursuant to
the contribution in kind agreement of 28 February 2002 the
company
acquired assets and liabilities, ie. the Spanish activities
business, from
UCAR INERNATIONAL HOLDING INC., Wilmington (Delaware
USA), for the
price of CHF 81,287,500.--.
Banker(-s)
UBS Ltd, 1200
Geneve
Auditors
PricewaterhouseCoopers SA, Pully
Property
The company is
proprietor of a new manufacturing site which generated
investments of
CHF 12 million.
The building
covers and area of 3,000 m2 and has three floors.
COMPANY AND PERSON RELATIONS
COMPANY CONNECTIONS:
Direct Parent
com.: GrafTech International Ltd,
Purma, America/US with a share of 100.
GrafTech
Inernational Ltd (Ucar International Inc. until May 2002) is
listed on the
New York Stock Exchange.
The group has
13 production sites in 7 countries and draws on more than
one hundred
years of experience in the graphite and carbon technology
sector.
BOARD OF DIRECTORS:
Juan Antonio
Aranzabal, from Spain, in San
Sebastian/Spain,
President,
General Director, sole signature.
Fabio Spirgi,
from Lugano, in
Corsier/GE/Switzerland,
Secretary,
collective signature.
Rene Kraft,
from Kallern, in
Collonges/VS/Switzerland,
Member,
collective signature.
Darrell A.
Blair, from America, in
Lausanne/VD/Switzerland,
Honorary
President.
PERSONNEL INFORMATION:
The top-level
members of the management enjoy a good reputation in
business
affairs.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.67 |
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UK Pound |
1 |
Rs.75.47 |
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Euro |
1 |
Rs.61.19 |
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%)