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MIRA
INFORM REPORT
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Report Date : |
24.10.2008 |
IDENTIFICATION DETAILS
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Name : |
GLATT ( |
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Registered Office : |
13 Ground Floor, Palam Marg, Vasant Vihar, |
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Country : |
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Date of Incorporation : |
13.12.2007 |
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Com. Reg. No.: |
171406 |
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CIN No.: [Company
Identification No.] |
U85100DL2007FTC171406 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELG10923D |
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PAN No.: [Permanent
Account No.] |
AADCG0052E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Service provider to pharmaceutical Companies |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
The company is a subsidiary of Glatt Ingenieurtechnik GmbH, Germany.
Subject is a part of Glatt Group, Worldwide. Trade relations are fair.
Payments are correct and as per commitments. The company can be considered normal for business dealings at usual trade
terms and conditions. |
INFORMATION PARTED BY
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Name : |
Mr. Anupnath Singhal |
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Designation : |
Manager |
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Date : |
22.10.2008 |
LOCATIONS
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Registered Office : |
13 Ground Floor, Palam Marg, Vasant Vihar, New Delhi – 110057, India |
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Tel. No.: |
91- 11- 46052960/ 63 |
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Fax No.: |
91- 11- 46052964 |
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E-Mail : |
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Website : |
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Branch Office : |
B – 296, Okhla Industrial Area, Phase 1, New Delhi – 110020, India |
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E-Mail : |
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Overseas Branches 1 : |
Glatt Ingenieurtechnik GmbH Nordstr. 12, 99427 Weimar, Germay |
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Tel. No.: |
+49364347 - 1506 |
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Overseas Branches 2 : |
Glatt Ingenieurtechnik GmbH Ul. Obrucheva, 23, korp. 3, 117630, Moscow, Russia |
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Tel. No.: |
+7495787 – 4289 |
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Fax No.: |
+7495787 – 4291 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Bernd Walter Kreyer |
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Designation : |
Director |
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Address : |
Neckarstr 44, Neu Isenberg - 63263 |
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Date of Birth/Age : |
03.10.1953 |
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Name : |
Mr. Reinhard Harald Boeber |
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Designation : |
Director |
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Address : |
Robert – Koch – Str. 8, Weimar – 99425 |
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Date of Birth/Age : |
21.05.1949 |
KEY EXECUTIVES
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Name : |
Mr. Anupnath Singhal |
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Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Glatt Ingenieurtechnik GmbH |
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675000 |
BUSINESS DETAILS
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Line of Business : |
Service provider to pharmaceutical Companies |
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Terms : |
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Selling : |
Advance |
GENERAL INFORMATION
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Customers : |
Pharmaceutical Companies |
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No. of Employees : |
2 |
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Bankers : |
Deutsche Bank, New Delhi |
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Auditors : |
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Name : |
Mr. L. N. Sahari Chartered Accountant |
CAPITAL STRUCTURE
AS ON 08.07.2008
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs. 10/- Each |
Rs.10.000
Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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675000 |
Equity Shares |
Rs. 10/- Each |
Rs.6.750 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Note: No financial are available
as the subject is a new company
LOCAL AGENCY FURTHER INFORMATION
Notes:
The registered office of the company has been shifted from B – 296,
Okhla Industrial Area, Phase 1, New Delhi – 110020, India to 13 Ground Floor, Palam
Marg, Vasant Vihar, New Delhi – 110057, India with effect from 08.07.2008
THE HISTORY OF THE
GLATT GROUP COMPANIES
Glatt the pioneer of fluid bed technology
After
establishing the company in 1954 in Binzen, by 1959 Werner Glatt, together with
just a dozen employees, had designed and constructed the world's first fluid
bed plant suitable for industrial application in the pharmaceutical industry.
His credo and his success formula was "Satisfied customers". The
company's main customer base lay in the solid processing sectors of the
pharmaceutical industry. Glatt was instrumental in establishing and
continuously further developing this technology.Used initially as pure drying
systems, through the use of suitable nozzle systems the fluid bed apparatus was
turned into a granulator, and with the relevant further developments (Wurster
system) also a particle coater. In all these developments, Glatt has always
been the one to set the standard.
International Group of Companies
Glatt's
international activity developed out of an increasing base of satisfied
customers and growing international demand. In 1971, Glatt AG was founded in
Switzerland, followed in 1973 by Glatt Air Techniques (GAT) in Ramsey, USA.
Glatt AG was instrumental in launching a second product family onto the market:
the Glatt coater.
In the USA, a second Technology Center was established alongside Binzen, so
offering overseas customers the opportunity to test and optimize their
machines, products and processes.Within the course of just a few years, other
sales companies were established in the most important markets: Glatt
Pharmatech in Dijon, France. Glatt Protech in the UK, Glatt Ireland and Glatt
Norden in Denmark. In other countries, trade agreements with concluded with
reputable trading firms.All this with one focal aim in mind: To improve
customer support through better proximity.
From apparatus maker to system supplier
1989
was a historic year for Germany. The advent of German Unity brought about major
changes for Glatt too. Reiner Nowak took over as Chief Executive of Werner
Glatt and made the most of opportunities thrown up by the new development
taking place in Germany.1991 saw the foundation of Glatt Ingenieurtechnik (GIT)
in Weimar. Almost simultaneously, Glatt Systemtechnik (GST) was entered in the
Commercial Register in Dresden.
Both companies added major new business fields to the Glatt portfolio: The
production firm GST expanded the existing production range to include
components, machines and units in the field of product handling. GIT in Weimar
contributed extensive expertise from the field of continuous fluid bed
technology. This company also specialized in consultancy, planning and
implementation for complete process lines through to turnkey factories.
Glatt today
Today,
the Glatt corporation is a truly global company group. It employs a workforce
of over 1500 at its various Locations, and also
works with over 50 permanent Agencies which act
as local points of contact for customers around the world.People's ideas and
expectations change in the same way as does the economic climate. But there is
one thing which has not changed in almost 50 years: Their focus on customer
satisfaction.
OTHER COMPANIES
AND PARTNERS OF THE GLATT GROUP
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ADD Advanced Drug Delivery Technologies AG
Pharmaceutical development for solids.
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IPC Process Center GmbH
Contract manufacturing for pharmaceuticals, food/ feed and fine chemicals.
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MCS-RATIO GmbH
MidMarket Consulting & Solutions
ERP and documentation management systems, control engineering, process visualization, validation.
Automation, qualification and validation, calibration.
Process engineering and facility planning,
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Ramsey Design Group
Engineering, facility design, project management, automation, validation,
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TTC Technology Traininrg Center
Training,
instruction, seminars, symposia.
ADD Advanced Drug
Delivery Technologies AG
Company foundation: 1998
Focus:
Ø Pharmaceutical development of modern, innovative solid drug dosage forms.
Ø State-of-the-art laboratory facilities. Close cooperation with the University of Basle.
Contact:
Advanced Drug Delivery Technologies AG
Kägenstrasse 17
4153 Reinach
Switzerland
Telephone: +41 –61 7159700
Telefax: +41 –61 7159701
email: info@addtechnologies.com
internet: www.addtechnologies.com
IPC Process Center
GmbH
Company foundation: 1993
Focus:
Ø Contract manufacturing for pharmaceuticals, food/feed and fine chemicals. GMP and non-GMP production.
Ø Modern production facilities and state-of-the-art plant engineering.
Contact:
IPC Process Center GmbH
Grunaer Weg 26
01277 Dresden
Germany
Telephone: +49 –351 2584-0
Telefax: +49 –351 2584-328
email: info@ipc-dresden.de
internet: www.ipc-dresden.de
MCS-RATIO GmbH -
MidMarket Consulting & Solutions
Company foundation: 2001
Focus:
Ø Organization, consulting, conception, development and introduction of ERP and documentation management
Ø Systems, Implementation of systems for control engineering and process visualization.
Contact:
MCS-RATIO GmbH
MidMarket Consulting & Solutions
Gartenstraße 2
78126 Königsfeld
Germany
Telephone: +49 –7725 9174-0
Telefax: +49 –7725 9174-39
email: info@mcs-ratio.de
internet: www.mcs-ratio.de
Pharmatronic AG
Company foundation: 1985
Focus:
Ø Automation engineering
Ø Control engineering
Ø Electronic data processing connection concepts
Ø Validation, qualification, calibration
Ø Process engineering and facility planning
Contact:
Pharmatronic AG
Hohenrainstraße 10
4133 Pratteln
Switzerland
Telephone: +41 –61 826-9726
Telefax: +41 –61 826-9727
email: mail@pharmatronic.ch
internet: www.pharmatronic.ch
Ramsey Design Group
Foundation: 1998
Focus:
Ø Facilities engineering
Ø Project management
Ø Construction management
Ø Automation integration
Ø Process simulation
Ø Validation services
Ø Plant optimization
Ø 21 CFR Part 11 consultation & remediation services
Contact:
Ramsey Design Group
A Division of Glatt Air Techniques
20 Spear Road Ramsey
NJ 07446
USA
Telephone: +1 -201 825-1391
Telefax: +1 -201 825-0389
email: info@ramseydesign.com
internet: www.ramseydesign.com
TTC Technology
Training Center
Foundation: 1998
Focus:
TTC Binzen offers a wide range of seminars and workshops for professional users
with focus firmly on practical application for industry (pharmaceuticals, food
/feed, cosmetics, chemicals etc.)
Contact:
TTC Technology Training Center
Werner-Glatt-Straße 1
79589 Binzen
Germany
Telephone: +49 –7621 664-308
Telefax: +49 –7621 664-632
email: TTC@ttc-binzen.de
internet: www.ttc-binzen.de
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.79 |
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UK Pound |
1 |
Rs.81.27 |
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Euro |
1 |
Rs.63.91 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
- |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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38 |
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%)
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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