MIRA
INFORM REPORT
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Report Date : |
21.10.2008 |
IDENTIFICATION DETAILS
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Name : |
HAEFELY TEST
AG |
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Registered Office : |
Lehenmattstrasse 353 4052 Basel/BS |
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Country : |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
11.06.1999 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Test Systems and Measuring Devices |
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 50.000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Name of the company
Haefely Test
AG
Line of Business
Mess- und
Regeltechnik
Legal domicile
Lehenmattstrasse
353
4052 Basel/BS
Switzerland
Telephone: 061
3734111
Fax: 061
3734911
Homepage: www.haefely.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 50.000,-- |
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: 11-06-1999
First
Publication: 11-06-1999
Last
Publication: 29-11-2006
History:
In 1999, the
Canadian-based Trench Group sold the test business of Trench Switzerland - originally
Haefely - to the US-based group Hubbell
Corporation.
This part of Trench Switzerland has now been rebranded
Haefely Test
AG.
Share
capital: 6.000.000
Paid up: 6.000.000
Divided
into: 6.000 Registered
shares of 1.000
History: 23-11-2006 6.000.000 Capital decrease
15-05-2003
24.754.000 Capital increase
22-10-2001
24.370.000 Capital increase
13-07-1999
11.410.000 Capital increase
100.000 Capital by incorporation
Direct Parent
com.: Hubbell Inc., Orange, America/US
with a share of
100% since
1999.
Company
Management: Reinhold Grob Markus
Schneider
Registered
translations of the Company name:
English Haefely Test Ltd
French Haefely Test SA
ACTIVITY
Line of
business: Test systems and measuring
devices
Sector: Manufacture
Activity:
The company is
involved in the development, manufacture and distribution
of test
systems and measuring devices for the power industry.
Locations:
Trading
area: Worldwide
Import/Export: The company is active in Import and
Export.
Export: 96% of total turnover China
Import: Germany, France, Italy, United
Kingdom
EMPLOYEES
Number of
employees: 100
The company
employs between 90 and 100 people.
In 2002, the
company still employed about 140 people. The reason for the staff cuts was the
implementation of restructuring measures.
The group
employs than 10'000 people worldwide.
PAYMENT AND FINANCIAL DATA
PAYMENT
EXPERIENCES:
Legal
actions: Position per 11-07-2006.
Report from 11-07-2006,
in 4001 Basel.
2004 2005 2006
No. Amount No.
Amount No. Amount
Betreibungen 1
1.184 None
0 None 0
Report from 09-05-2005,
in 4001 Basel.
2003 2004 2005
No. Amount
No. Amount No.
Amount
Betreibungen
None 0 1 1.184 None
0
A current
legal action check requires a written proof of interest.
There are no
complaints about the mode of payment and business conduct.
For
large-scale financial transactions the company should currently be
capable of
providing appropriate capital guarantees or securities.
FINANCIAL DATA:
Financial
position: The financial affairs are
considered to be in order.
Financial
Statements: The company does not disclose any financial statements.
Key figures
(in CHF):
Consolidated
key figures (in USD 1.000.000):
Hubbell-Konzern
31.12.2007 31.12.2006
Sales 2'553.9 2'104.9
Operating Profit/Loss 299.4 226.8
Profit/Loss 208.3 165.1
Shareholder funds 1'082.6 1'015.5
Balance sheet total 1'863.4 1'751.5
Banker(-s)
Credit Suisse
(CS), 4000 Basel
Auditors
PricewaterhouseCoopers
AG, Basel
Premises: The premises at the above
mentioned address are rented.
Real estate
property: No real estate is owned.
Fiscal
taxation: No information is
available due to the local tax authority regulation.
COMPANY AND PERSON RELATIONS
COMPANY
CONNECTIONS:
Direct Parent
com.: Hubbell Inc., Orange, America/US
with a share of
100% since
1999.
Hubbell
Corporation is an Amercian-based, globally active group.
BOARD OF
DIRECTORS:
Richard W. Davies, from
StA der USA, in Woodbury
CT/America,
President, collective
signature.
Markus Schneider, from
Muenchenstein, in
Moehlin/AG/Switzerland,
Vice President, Director,
collective signature.
Gary Amato, from StA der
USA, in Ohio/America,
Secretary, collective
signature.
Dr. Claude Lambert, from
Zuerich, Geneve, in
Zuerich/ZH/Switzerland,
Member, collective signature.
MANAGEMENT:
Reinhold Grob-Becker,
from Zuerich, Wiesendangen,
in
Andelfingen/ZH/Switzerland,
Director, collective
signature.
Peter Schikarski, from Germany, in
Loerrach/Germany,
Vice Director, collective
signature.
Michael Gamlin, from
Germany, in Blotzheim/France,
Authorised signatory,
collective signing
authority.
Shreenivas Khare, from
Bottmingen, in
Bottmingen/BL/Switzerland,
Authorised signatory,
collective signing
authority.
Rene Maeder, from Aarau,
in Zuerich/ZH/Switzerland,
Authorised signatory,
collective signing
authority.
Roman Peter Schoenbucher,
from Basel, in
Grellingen/BL/Switzerland,
Authorised signatory,
collective signing
authority.
Lukas Walder, from Basel,
Zuerich, in
Muttenz/BL/Switzerland,
Authorised signatory,
collective signing
authority.
PERSONNEL INFORMATION
Reinhold Grob,
born in 1956, is married to a nee Becker and lives at the
Hofwiesenstrasse
8 in Andelfingen. He is a businessman by profession.
There are no detrimental
reports on the senior executives' business
conduct.
FURTHER MANDATES
Reinhold Grob:
- Grob-Garntex
AG, Neuhausen am Rheinfall
-
Stramin-Druck, Frau H. Grob, Andelfingen
COMMENTS
Given the
worldwide economic situation, especially in the USA, the
further
evolution remains to be closely observed.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.29 |
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UK Pound |
1 |
Rs.80.40 |
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Euro |
1 |
Rs.63.35 |
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%)