MIRA INFORM REPORT
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Report Date : |
17.12.2011 |
IDENTIFICATION DETAILS
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Name : |
SYNTHOMER DEUTSCHLAND GMBH |
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Registered Office : |
Werrastrasse 10, Marl, 45768 |
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Country : |
Germany |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
15.01.2003 |
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Com. Reg. No.: |
7479 |
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Legal Form : |
Private Subsidiary Company |
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Line of Business : |
manufacture of gelatine and its derivatives, glues and prepared adhesives, including rubber based glues and adhesives. |
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No. of Employees
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696 persons |
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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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Germany |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
Synthomer Deutschland GmbH
Werrastrasse 10
Marl, 45768
Germany
Tel: +49 (0) 2365 492552
Fax: +49 (0) 2365 49160422
Synthesis
Employees: 696
Company Type: Private Subsidiary
Corporate Family: 4
Companies
Ultimate Parent: Soros
Funds Ltd.
Incorporation Date:
15-Jan-2003
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2009
Reporting Currency: Euro
Annual Sales: 415.6
Total Assets: 563.0
Business Description
Synthomer Deutschland GmbH is primarily engaged in manufacture of
gelatine and its derivatives, glues and prepared adhesives, including rubber
based glues and adhesives.
Industry
Industry Chemical Manufacturing
ANZSIC 2006: 1915 - Adhesive
Manufacturing
NACE 2002: 2462 - Manufacture
of glues and gelatine
NAICS 2002: 325520 - Adhesive
Manufacturing
UK SIC 2003: 2462 - Manufacture
of glues and gelatine
US SIC 1987: 2891 - Adhesives
and Sealants
Key Executives
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Name |
Title |
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Christian Holtmann |
chief Executive officer |
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Stefan Brandt |
Managing Director and Vice
President-Marketing, Sales and Technical Service |
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Dieter Hesterwerth |
Managing Director and Head of Production,
Engineering, Research and Development |
Registered No.(DEU): 7479
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7190468
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.6969855
Corporate Overview
Location
Werrastrasse 10
Marl, 45768
Germany
Tel: +49 (0) 2365 492552
Fax: +49 (0) 2365 49160422
Sales EUR(mil): 298.8
Assets EUR(mil): 392.4
Employees: 696
Fiscal Year End: 31-Dec-2009
Industry: Chemical
Manufacturing
Incorporation Date: 15-Jan-2003
Company Type: Private
Subsidiary
Quoted Status: Not
Quoted
Registered No.(DEU): 7479
chief Executive officer: Christian Holtmann
Contents
· Industry Codes
· Business Description
· Financial Data
· Subsidiaries
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
1919 - Other Polymer Product Manufacturing
1915 - Adhesive Manufacturing
3323 - Industrial and Agricultural Chemical Product Wholesaling
1916 - Paint and Coatings Manufacturing
NACE 2002 Codes:
2462 - Manufacture of glues and gelatine
2524 - Manufacture of other plastic products
5155 - Wholesale of chemical products
2430 - Manufacture of paints, varnishes and similar coatings,
printing ink and mastics
2513 - Manufacture of other rubber products
NAICS 2002 Codes:
4246 - Chemical and Allied Products Merchant Wholesalers
3255 - Paint, Coating, and Adhesive Manufacturing
325520 - Adhesive Manufacturing
32619 - Other Plastics Product Manufacturing
32629 - Other Rubber Product Manufacturing
US SIC 1987:
3069 - Fabricated Rubber Products, Not Elsewhere Classified
516 - Chemicals and Allied Products
2851 - Paints, Varnishes, Lacquers, Enamels, and Allied Products
2891 - Adhesives and Sealants
3089 - Plastics Products, Not Elsewhere Classified
UK SIC 2003:
2524 - Manufacture of other plastic products
5155 - Wholesale of chemical products
2462 - Manufacture of glues and gelatine
2513 - Manufacture of other rubber products
2430 - Manufacture of paints, varnishes and similar coatings,
printing ink and mastics
Business
Description
Synthomer
Deutschland GmbH is primarily engaged in manufacture of gelatine and its
derivatives, glues and prepared adhesives, including rubber based glues and
adhesives.
More Business
Descriptions
Other Plastics Product Manufacturing
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The Strategic Initiatives report is created using technology to extract meaningful insights from analyst reports about a company's strategic projects and investments. More about Strategic Initiatives
Strategic
Initiatives
Resource
Management
Jul 22, 2010PolymerLatex Strengthens Its Acrylics Production Network And Right Sizing XSBR Capacity In ItalyPolymerLatex GmbH (PolymerLatex) is expecting to have a new acrylics line in its Filago plant fully operational in September 2010. The project is in its final stage, production is ramping up ahead of time as first customer approvals have already been obtained. With the newly added production facility in Filago, Italy PolymerLatex is crossing 150,000 mt combined production capacity in the region.PolymerLatex is implementing an acrylics growth strategy by expanding its EMEA production network. The three production facilities in Germany, Italy and the UAE are strategically located along a North-South-axis and are well positioned to serve the European core markets as well as the dynamically growing Gulf region. PolymerLatex Filago plant was initially built in 1974 to produce NBR latex for the textile industry.
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Corporate
Family |
Corporate
Structure News: |
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Synthomer
Deutschland GmbH |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Soros Funds Ltd. |
Parent |
London |
United Kingdom |
Nonclassifiable Industries |
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Soros Private Equity Partners Ltd. |
Subsidiary |
London |
United Kingdom |
Nonclassifiable Industries |
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32 |
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Synthomer Deutschland GmbH |
Subsidiary |
Marl, Nordrhein-Westfalen |
Germany |
Chemical Manufacturing |
415.6 |
696 |
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Synthomer SRL |
Subsidiary |
Milano, Milano (Milan) |
Italy |
Fabricated Plastic and Rubber |
82.6 |
63 |
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Executive report
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Executives |
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chief Executive officer |
Chief Executive Officer |
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Managing director |
Managing Director |
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Managing director |
Managing Director |
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Managing Director and Vice
President-Marketing, Sales and Technical Service |
Managing Director |
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Managing director |
Managing Director |
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Managing Director and Head of Production, Engineering,
Research and Development |
Managing Director |
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Managing director |
Managing Director |
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Managing director |
Managing Director |
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Annual Profit & Loss
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31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate
(Period Average) |
0.719047 |
0.683679 |
0.730637 |
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Consolidated |
No |
No |
No |
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Total income |
415.6 |
554.7 |
496.5 |
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Net sales |
415.6 |
554.7 |
496.5 |
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Other operating income |
21.4 |
24.0 |
8.7 |
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Cost of sales |
293.8 |
434.9 |
379.8 |
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Gross profit |
121.8 |
119.8 |
116.8 |
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Advertising, distribution, and commercial
expenses |
61.9 |
67.2 |
60.0 |
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General expenses |
15.8 |
13.8 |
14.2 |
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Other operating costs |
49.3 |
52.0 |
32.9 |
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Net operating
income |
16.0 |
10.8 |
18.3 |
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Interest received from loans |
4.5 |
12.4 |
3.4 |
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Income received from associated companies |
0.0 |
0.1 |
0.1 |
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Other income |
3.8 |
4.0 |
1.9 |
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Interest payable on loans |
11.1 |
15.9 |
15.8 |
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Other expenses |
0.2 |
23.4 |
0.2 |
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Total expenses |
3.0 |
22.9 |
10.6 |
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Profit before tax |
13.0 |
-12.1 |
7.7 |
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Provisions |
80.1 |
80.6 |
88.2 |
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Total taxation |
- |
-13.7 |
1.8 |
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Profit distributed to shareholders |
-13.0 |
-1.6 |
- |
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Net profit |
- |
- |
5.9 |
Annual Balance
Sheet
Financials in: USD (mil)
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31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.696986 |
0.719399 |
0.683971 |
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Consolidated |
No |
No |
No |
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Issued capital |
0.0 |
0.0 |
0.0 |
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Capital reserves |
2.1 |
2.0 |
2.1 |
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Other reserves |
236.1 |
228.7 |
- |
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Total reserves |
236.1 |
228.7 |
- |
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Profits for the year |
- |
- |
246.9 |
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Total
stockholders equity |
238.2 |
230.8 |
249.1 |
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Deferred taxation |
- |
4.1 |
- |
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Other provisions |
32.4 |
25.2 |
25.8 |
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Provision for pensions |
50.2 |
47.3 |
50.3 |
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Provisions and allowances |
82.6 |
76.6 |
94.2 |
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Other debentures |
113.8 |
122.6 |
135.3 |
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Total long-term
liabilities |
113.8 |
122.6 |
135.3 |
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Trade creditors |
39.7 |
31.0 |
40.0 |
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Advances received |
0.6 |
0.9 |
0.0 |
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Other loans |
39.9 |
35.0 |
3.6 |
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Taxation and social security |
34.7 |
1.0 |
2.0 |
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Due to group companies |
13.5 |
2.4 |
18.5 |
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Total current
liabilities |
128.4 |
70.3 |
64.3 |
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Total
liabilities (including net worth) |
563.0 |
500.3 |
542.8 |
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Patents |
52.1 |
60.5 |
77.4 |
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Goodwill |
106.2 |
112.7 |
128.9 |
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Intangibles |
158.3 |
173.2 |
206.4 |
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Land and buildings |
9.6 |
10.6 |
12.6 |
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Machinery and tools |
51.5 |
66.2 |
85.4 |
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Fixtures and equipment |
9.6 |
10.6 |
12.6 |
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Fixed assets under construction |
0.4 |
0.8 |
1.5 |
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Total tangible
fixed assets |
64.2 |
80.7 |
103.7 |
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Shares held in associated companies |
105.6 |
57.9 |
83.6 |
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Participating interest |
1.3 |
1.1 |
1.1 |
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Deposits |
1.7 |
1.3 |
1.3 |
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Total financial
assets |
145.9 |
96.5 |
124.0 |
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Total non-current
assets |
368.4 |
350.4 |
434.1 |
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Raw materials |
2.9 |
3.4 |
2.7 |
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Finished goods |
13.4 |
15.2 |
20.3 |
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Net stocks and work in progress |
16.2 |
18.6 |
23.0 |
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Trade debtors |
48.0 |
22.3 |
18.9 |
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Other receivables |
6.4 |
5.9 |
23.9 |
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Total
receivables |
150.7 |
108.9 |
77.8 |
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Owing from associated companies |
95.9 |
80.3 |
34.3 |
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Owing from participants |
0.5 |
0.4 |
0.6 |
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Cash and liquid assets |
27.6 |
22.2 |
7.9 |
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Shares in associated companies |
37.3 |
36.1 |
38.0 |
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Total current
assets |
194.5 |
149.7 |
108.7 |
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Prepaid expenses and deferred costs |
0.1 |
0.1 |
0.1 |
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Total assets |
563.0 |
500.3 |
542.8 |
Annual Ratios
Financials in: USD (mil)
|
|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.696986 |
0.719399 |
0.683971 |
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Consolidated |
No |
No |
No |
|
|
|
|
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Current ratio |
15.15 |
21.30 |
16.91 |
|
Acid test ratio |
13.89 |
18.66 |
13.32 |
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Total liabilities to net worth |
0.10% |
0.08% |
0.08% |
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Net worth to total assets |
0.04% |
0.05% |
0.05% |
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Current liabilities to net worth |
0.05% |
0.03% |
0.03% |
|
Current liabilities to stock |
0.79% |
0.38% |
0.28% |
|
Fixed assets to net worth |
0.15% |
0.15% |
0.17% |
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Collection period |
409.00 |
153.00 |
131.00 |
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Stock turnover rate |
0.38 |
0.35 |
0.43 |
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Profit margin |
0.00% |
0.00% |
0.00% |
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Return on assets |
0.00% |
0.00% |
0.00% |
|
Shareholders' return |
0.01% |
0.00% |
0.00% |
|
Sales per employee |
64.96 |
80.35 |
74.65 |
|
Profit per employee |
2.03 |
0.23 |
0.89 |
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Net worth |
238.2 |
230.8 |
249.1 |
|
Number of employees |
460 |
472 |
486 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.81 |
|
UK Pound |
1 |
Rs.82.00 |
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Euro |
1 |
Rs.68.81 |
RATING EXPLANATIONS
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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 |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.