MIRA INFORM REPORT

 

 

Report Date :

25.08.2011

 

IDENTIFICATION DETAILS

 

Name :

ISP (SWITZERLAND) GMBH

 

 

Registered Office :

Lindenstrasse 10 Postfach 6304 Zug Switzerland/CH

 

 

Country :

Switzerland

 

 

Date of Incorporation :

03.02.1971

 

 

Com. Reg. No.:

170.3.000.085-0 / 271409

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Global supplier of specialty chemicals and performance-enhancing products for a wide variety of personal care, pharmaceutical, food, beverage, and industrial applications.

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

CHF 100'000

 

 

Status :

Moderate

 

 

Payment Behaviour :

No Complaints

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Switzerland

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name and address

 

ISP (Switzerland) GmbH

 

Operating address:

Lindenstrasse 10

Postfach

6304 Zug

Switzerland/CH

 

Telephone:                    041 7608050

Fax:                             041 7608586

 

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

E-mail:                         info.switzerland@ispcorp.com

 

VAT-No.:                      CHE106916671

 

 

Profile

 

Established:                  1971

Line of Business:           Consumer goods wholesale

Industry Division:           Wholesale trade

Industry-code (NACE):   4675       Wholesale of chemical products

Import/Export:               Import

Import purchase:           100.0%

Banks:                         UBS Ltd

 

 

Operational Figures

 

Coverage:                     Company

Figures:                        approximately

Employees:                  15

Sales:                          CHF 14'000'000.--

 

 

Activity

 

The company is a leading global supplier of specialty chemicals and performance-enhancing products for a wide variety of personal care, pharmaceutical, food, beverage, and industrial applications.

 

 

Real Estate

 

Information on property ownership was not available.

 

 

Company Register

 

Company No:                170.3.000.085-0 / 271409

Legal form:                    Limited liability company

Registration:                 03.02.1971

Legal status:                 active

Responsible Register:    Handelsregister des Kantons Zug

Auditor:                        Ernst & Young AG, Zug

History:                        Date of Statutes: 25.10.1994

                                    Date of Statutes: 10.12.2010

 

Entry          Deleted      Name

16.12.2010                    ISP (Switzerland) GmbH

                  01.01.1994  GAF (Switzerland) AG

                  16.12.2010  ISP (Switzerland) AG

 

Entry          Deleted      Legal domicile

active                           Baar, Switzerland

 

Entry          Deleted      Address

active                           Lindenstrasse 10, 6340 Baar/ZG, Switzerland/CH

 

Entry          Deleted      Capital

16.12.2010                    LLC Capital CHF 250'000

                  16.12.2010  Share Capital CHF 250'000, paidup CHF 250'000

 

Entry          Deleted      Capital Structure

16.12.2010                    250 Participation shares of CHF 1'000.--

                  16.12.2010  250 Registered shares with restricted transferability of CHF 1'000.--

 

Entry          Deleted      Activity (original Language)

16.12.2010                    Vertrieb der von der Int. Specialty Products Inc. oder deren Tochtergesellschaften entwickelten oder hergestellten Erzeugnisse auf dem schweizerischen Markt, fabrikmässige Herstellung, Verarbeitung, Vertrieb von und Handel mit Chemikalien, Kunststoffen, photographischen und optischen Erzeugnissen, Baustoffen, Baumaterialien und Fussbodenbelägen sowie Handel mit Waren aller Art, wissenschaftliche, wirtschaftliche und industrielle Forschung aller Art, Kauf und Verkauf, Registrierung und Verwertung von Patenten, Patentrechten und Markenschutzrechten sowie Erwerb und Gewährung von Lizenzen unter solchen Rechten; vollständige Zweckumschreibung gemäss Statuten

                  16.12.2010  Vertrieb der von der Int. Specialty Products Inc. oder deren Tochtergesellschaften entwickelten oder hergestellten Erzeugnisse auf dem schweizerischen Markt, fabrikmässige Herstellung, Verarbeitung, Vertrieb von und Handel mit Chemikalien, Kunststoffen, photographischen und optischen Erzeugnissen, Baustoffen, Baumaterialien und Fussbodenbelägen sowie Handel mit Waren aller Art, wissenschaftliche, wirtschaftliche und industrielle Forschung aller Art, Kauf und Verkauf, Registrierung und Verwertung von Patenten, Patentrechten und Markenschutzrechten sowie Erwerb und Gewährung von Lizenzen unter solchen Rechten; kann sich an anderen Unternehmen beteiligen sowie Grundstücke erwerben, halten und veräussern

 

Entry          Deleted      Remarks (original Language)

active                           Publishing authority: SHAB.

active                           Contribution in kind/Asset takeover: 1'249 Aktien der "ISP Freight Services NV", in Antwerpen (BE), und 1'249 Aktien der "ISP (Belgium) International NV", in Antwerpen (BE), gemäss Sacheinlagevertrag vom 03.10.2005, zum Preis von CHF 425'000.00, wofür 100 Namenaktien zu CHF 1'000.00 ausgegeben werden.

16.12.2010                    Liability/Obligations: Nebenleistungspflichten, Vorhand-, Vorkaufs- oder Kaufsrechte gemäss näherer Umschreibung in den Statuten.

16.12.2010                    Reports: Mitteilungen an die Gesellschafter erfolgen per Brief oder E-Mail.

16.12.2010                    Change of Corporate Form: Die Gesellschaft wird gemäss Umwandlungsplan vom 10.12.2010 und Bilanz per 31.10.2010 mit Aktiven von CHF 514'622'161.00 und Passiven (Fremdkapital) von CHF 126'964'090.00 in eine Gesellschaft mit beschränkter Haftung umgewandelt. Die Alleinaktionärin erhält 250 Stammanteile zu CHF 1'000.00.

 

 

Management

 

Title                                           Name

General Manager                         Ueli Marty, Origin: Schwyz, Zug, Switzerland, Address: Zug/ZG, Switzerland, single signature

General Manager                         Stephan Hürlimann, Origin: Walchwil, Switzerland, Address: Zug/ZG, Switzerland, joint signature of two

Chairman of the management       Kenneth McHugh, Origin: United States of America, Address: Oakland , United States of America, joint signature of two

Member with procuration              Peter Köhne, Origin: Germany, Address: Baar/ZG, Switzerland, joint power of attorney of two, Appointment: 16.12.2010

Member with procuration              Kai Oliver Schultz, Origin: Germany, Address: Zug/ZG, Switzerland, joint power of attorney of two

 

 

Executive board

 

Title                                           Name

Chief Executive Officer                 Kenneth McHugh

 

 

Ultimate Parent Company

 

Name:                          International Specialty Products Inc

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

 

 

Owner/-s

 

No. of Owner/-s:            1

Owner:                         The company is foreign owned.

 

Class:                          100%

Name:                          ISP Luxembourg Holdings

City/Country:                 Luxembourg, Luxembourg/LU

Capital share:                CHF 250'000.--

Interest:                        100.00% voting right, 100.00% capital interest

 

 

Investments

 

It is believed that the company has no investments.

 

 

Legal Actions

 

Control date       Year                       No.             Amount CHF     Status

22.05.2009          2009                           0

22.05.2009          2008                           0

22.05.2009          2007                           0

22.05.2009          2006                           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 met as appropriate.

 

Maximum Credit:           CHF 100'000.--

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.77

UK Pound

1

Rs.75.57

Euro

1

Rs.65.97

 

 

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.