MIRA INFORM REPORT

Report Date :

08.04.2011

IDENTIFICATION DETAILS

Name :	WERNER MATHIS AG

Registered Office :	Rütisbergstrasse 3, 8156 Oberhasli

Country :	Switzerland

Date of Incorporation :	10.06.1969

Com. Reg. No.:	020.3.916.373-0 / 114366

Legal Form :	Company limited by shares

Line of Business :	manufacture and sale of laboratory equipment for the textile industry, and general equipment manufacture

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	CHF 100'000

Status :	Satisfactory

Payment Behaviour :	Regular

Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – December 31, 2010

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

Switzerland

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company name

Werner Mathis AG

Operating address

Rütisbergstrasse 3

8156 Oberhasli

Switzerland/CH

Telephone: 044 8525050

Fax: 044 8506707

Web site: http://www.mathisag.com

E-mail: info@mathisag.com

VAT-No.: CHE-106.958.876

Profile

Established: 1968

History: 1968: Established from Werner Mathis

Line of Business: Machinery

Industry Division: Manufacturing

Industry-code (NACE): 2894 Manufacture of machinery for textile, apparel and leather production

Import/Export: Export

Export sales: 95.0%

Banks: CS Credit Suisse

UBS Ltd

ZKB Zürcher Kantonalbank

Organisation level: Ultimate Parent

Operational Figures

Coverage: Company

Employees: 60

Sales: CHF 17'000'000.--

Activity

The business activities includes the manufacture and sale of laboratory equipment for the textile industry, and general equipment manufacture.

Real Estate

Real Estate: The company owns buildings.

Company Register

Company No: 020.3.916.373-0 / 114366

Legal form: Company limited by shares

Registration: 10.06.1969

Legal status: active

Responsible Register: Handelsregister des Kantons Zürich

Auditor: Vescofida Wirtschaftsprüfungs GmbH (CH-020.4.019.102-2), Niederhasli

History: Date of Incorporation Statutes: 30.04.1969

Date of Statutes: 07.12.2006

Date of Statutes: 28.10.1996

Entry Deleted Name

active Werner Mathis AG

Entry Deleted Legal domicile

active Niederhasli, Switzerland

Entry Deleted Address

06.12.1996 Rütisbergstrasse 3, 8156 Oberhasli/ZH, Switzerland/CH

Entry Deleted Capital

active Share Capital CHF 90'000, paidup CHF 90'000

Entry Deleted Capital Structure

16.01.2007 9'000 Registered shares of CHF 10.--

Entry Deleted Activity (original Language)

06.12.1996 Herstellung und Vertrieb von Labor-Apparaten für die Textilindustrie sowie allgemeiner Apparatebau; kann sich an anderen Unternehmungen beteiligen sowie Liegenschaften erwerben, verwalten, überbauen und veräussern.

Entry Deleted Remarks (original Language)

active Publishing authority: SHAB.

06.12.1996 Shares: Die Übertragbarkeit der Namenaktien ist nach Massgabe der Statuten beschränkt.

06.12.1996 Reports: Mitteilungen der Gesellschaft an die Aktionäre erfolgen durch Brief an die im Aktienbuch eingetragenen Adressen.

Official Administration

Title Name

President Werner Mathis, Origin: Wolfenschiessen, Switzerland, Address: Niederhasli, Switzerland, single signature

Executive Director Erwin Schärer, Origin: Obersteckholz, Switzerland, Address: Dällikon, Switzerland, single signature

Executive Director Robert Görtz, Origin: Langwies, Switzerland, Address: Neerach, Switzerland, single signature

Management

Title Name

General Manager Beat Mathis, Origin: Wolfenschiessen, Switzerland, Address: Hochfelden, Switzerland, single signature

Member with signing authority Irene Mathis, Origin: Wolfenschiessen, Switzerland, Address: Niederhasli, Switzerland, single signature

Member with signing authority Albert Manser, Origin: Appenzell, Switzerland, Address: Winterthur/ZH, Switzerland, single signature

Executive board

Title Name

Chief Executive Officer Beat Mathis

Owner/-s

Owner: The company is privately owned.

Investments

Class: 100%

Name: Aparelhos de laboratorio Mathis Ltda

City/Country: Cotia, Brazil/BR

Interest: 100.00% voting right, 100.00% capital interest (since 1982)

Class: 100%

Name: Mathis India Pvt. Ltd

City/Country: Thane, India/IN

Interest: 100.00% voting right, 100.00% capital interest (since 2004)

Class: 100%

Name: Werner Mathis USA Inc

City/Country: Concord, United States of America/US

Interest: 100.00% voting right, 100.00% capital interest

Legal Actions

Control date Year No. Amount CHF Status

01.04.2011 2011 0

01.04.2011 2010 0

01.04.2011 2009 0

01.04.2011 2008 0

01.04.2011 2007 0

01.04.2011 2006 0

26.10.2005 2005 0

26.10.2005 2004 0

26.10.2005 2003 0

An updated legal action check is only available against proof of interest. e.g. a copy of an enquiry letter, and order or invoice relating to the subject company.

Credit Information

Financial Statements: The company does not disclose any financial statements. Third parties are not permitted any insight into the financial affairs. It is therefore difficult to make a proper assessment of the actual situation.

Financial Situation: The financial situation is in order.

Payment experiences: Financial obligations are paid promptly.

Maximum Credit: CHF 100'000

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.22
UK Pound	1	Rs.71.97
Euro	1	Rs.63.23

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	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

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.