MIRA INFORM REPORT

Report Date :

25.04.2011

IDENTIFICATION DETAILS

Name :	ERNST PENNEKAMP GMBH & CO. OHG

Registered Office :	Königsfelder Str. 38-42, D 58256 Ennepetal

Country :	Germany

Date of Incorporation :	15.12.2003

Com. Reg. No.:	HRA 4879

Legal Form :	General partnership with private limited company as partner

Line of Business :	Manufacture of other ovens, furnaces and furnace burners

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 :	23.000 EUR
Status :	Good
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)

Germany

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

Company name

Ernst Pennekamp GmbH & Co. OHG

Main address:

Königsfelder Str. 38-42

D 58256 Ennepetal

Telephone: 02333/6050

Telefax: 02333/605200

Homepage: www.pennekamp.de

E-mail: info@pennekamp.de

VAT no.

DE121023324

Synthesis

LEGAL FORM General partnership with private limited

company as partner

Date of foundation: 1945

Registered on: 15.12.2003

companies: Local court 58097 Hagen

under: HRA 4879

General partner

Seidel Holding GmbH

Königsfelder Str. 38-42

D 58256 Ennepetal

Legal form: Private limited company

Share capital: EUR 25.564,59

Registered on: 31.03.2004

Reg. data: 58097 Hagen, HRB 6811

Shareholder

Hans-Joachim Seidel

Wüste

D 42369 Wuppertal

born: 27.07.1938

Share: EUR 25.564,59

Manager

Peter-Ashok Seidel

Höhenweg 87c

D 42897 Remscheid

having sole power of representation

born: 30.01.1966

Marital status: single

General partner

Christian Horn

Wilhelm-Schläper-Str. 21

D 58256 Ennepetal

born: 01.04.1963

Profession: Master Carpenter

Marital status: single

General partner:

Pennekamp Management GmbH

Königsfelder Str. 38-42

D 58256 Ennepetal

Legal form: Private limited company

Share capital: EUR 25.000,00

Registered on: 23.05.2007

Reg. data: 58097 Hagen, HRB 7653

Shareholder

Peter-Ashok Seidel

Höhenweg 87c

D 42897 Remscheid

born: 30.01.1966

Share: EUR 12.500,00

Shareholder:

Thorsten Seidel

D 42853 Remscheid

born: 23.10.1962

Share: EUR 12.500,00

Manager

Thorsten Seidel

D 42853 Remscheid

having sole power of representation

born: 23.10.1962

Proxy

Reiner Preugschat

Westen 29

D 42855 Remscheid

having sole power of representation

born: 04.04.1966

Marital status: married

Further functions/participations of Christian Horn (General partner)

Proprietor:

Christian Horn

Gewerbestr. 19

D 58256 Ennepetal

Legal form: Unregistered commercial

enterprise

COMPANY HISTORY

1945 - 17.04.1947 Ernst Pennekamp

Hölker Feld 22

D 42279 Wuppertal

Unregistered commercial enterprise

17.04.1947 - 22.12.1955 Ernst Pennekamp, Konstruktionsbüro und

Ofenbau für die Glas- und verw.

Industrie

Hölker Feld 22

D 42279 Wuppertal

General Partnership

22.12.1955 - 06.06.1997 Ernst Pennekamp

Hölker Feld 22

D 42279 Wuppertal

General Partnership

06.06.1997 - 24.11.2000 Ernst Pennekamp GmbH & Co. KG

Hölker Feld 22

D 42279 Wuppertal

Ltd partnership with priv. ltd. company

as general partner

24.11.2000 - 15.12.2003 Ernst Pennekamp GmbH & Co. OHG (bis

15.12.2003)

Hölker Feld 22

D 42279 Wuppertal

General partnership with private limited

company as partner

BUSINESS ACTIVITIES

Sectors

28219 Manufacture of other ovens, furnaces and furnace burners

FINANCIAL INFORMATION

Payment experience: takes advantage of cash discount

Negative information: We have no negative information at hand.

Maximum credit: 23.000 EUR

REAL ESTATE

Type of ownership: Tenant

Address Königsfelder Str. 38-42

D 58256 Ennepetal

Real Estate of:: Seidel Holding GmbH

Type of ownership: Tenant

Address Königsfelder Str. 38-42

D 58256 Ennepetal

Real Estate of:: Christian Horn

Type of ownership: Tenant

Address Schwelmer Str. 43

D 42389 Wuppertal

Real Estate of:: Pennekamp Management GmbH

Type of ownership: Tenant

Address Königsfelder Str. 38-42

D 58256 Ennepetal

Land register documents were not available.

BANKERS

Principal bank

COMMERZBANK VORMALS DRESDNER BANK, WUPPERTAL

Sort. code: 33080030, BIC: DRESDEFF332

Further banks

COMMERZBANK VORMALS DRESDNER BANK, ESSEN, RUHR

Sort. code: 36080080, BIC: DRESDEFF360

COMMERZBANK, WUPPERTAL

Sort. code: 33040001, BIC: COBADEFF330

SPARKASSE ENNEPETAL-BRECKERFELD, ENNEPETAL

Sort. code: 45451060, BIC: WELADED1ENE

FINANCIAL FIGURES

Financial year: 01.01. - 31.12.

Employees: 80

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.30
UK Pound	1	Rs.72.92
Euro	1	Rs.64.69

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
----	NB	New Business	----

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

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

Company name

VAT no.

Synthesis

General partner

Shareholder

Manager

General partner

Shareholder

Manager

Proxy

Further functions/participations of Christian Horn (General partner)

COMPANY HISTORY

BUSINESS ACTIVITIES

FINANCIAL INFORMATION

REAL ESTATE

BANKERS

FINANCIAL FIGURES

Unit