MIRA
INFORM REPORT
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Report Date : |
18.01.2011 |
IDENTIFICATION DETAILS
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Name : |
USTER TECHNOLOGIES AG |
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Registered Office : |
Sonnenbergstrasse 10 8610 Uster |
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Country : |
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Financials (as on) : |
31.12.2009 |
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Year of Establishment : |
1949 |
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Legal Form : |
Company Limited By Shares |
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Line of Business : |
Manufacture of machinery for textile, apparel and leather production |
RATING & COMMENTS
|
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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Maximum Credit Limit : |
CHF 3'000'000 |
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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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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
Uster Technologies
AG
Operating address
Sonnenbergstrasse 10
8610 Uster
Switzerland/CH
Telephone: 043 3663636
Fax: 043
3663637
Web
site: http://www.uster.com
E-mail: sales@uster.com
Profile
Established: 1949
Line
of Business: Financial services,
Machinery
Industry
Division: Services,
Manufacturing
Industry-code (NACE): 6420 Activities of holding companies
2894 Manufacture of machinery for textile,
apparel and leather production
Import/Export: Export
Export
sales: 99.0%
Banks: unknown
Organisation
level: Ultimate Parent
Quoted: Yes
Stock
exchange: Swiss Exchange SIX
Operational Figures
Coverage: Group
Employees: 400-599
Sales: CHF 80-100 Mio
Activity
The company is the world leader in textile electronics and provides systems
to monitor and control the quality throughout the textile industry.
Real Estate
Information on property ownership was not available.
Company Register
Company
No: 170.3.030.026-8 /
852732
Legal
form: Company limited
by shares
Registration: 06.11.2006
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Zürich (since 19.06.2007)
Auditor: Ernst & Young AG,
Zürich
History: Date of Statutes:
18.06.2007
Date of
Statutes: 30.03.2010
Date of
Statutes: 02.11.2009
Date of
Statutes: 31.03.2009
Date of
Statutes: 18.03.2008
Date of
Statutes: 18.10.2007
Date of
Statutes: 04.10.2007
Date of
Incorporation Statutes: 03.11.2006
Entry Deleted Name
19.06.2007 Uster
Technologies AG
19.06.2007 Uster
Technologies SA (Name translated)
19.06.2007 Uster
Technologies Ltd (Name translated)
06.11.2006 19.06.2007 Hercules Holding AG
06.11.2006 19.06.2007 Hercules Holding SA (Name translated)
06.11.2006 19.06.2007 Hercules Holding Ltd (Name translated)
Entry Deleted Legal domicile
19.06.2007
06.11.2006 19.06.2007
Entry Deleted Address
01.12.2008 Sonnenbergstrasse
10, 8610 Uster/ZH, Switzerland/CH
19.06.2007 01.12.2008 Wilstrasse 11, 8610 Uster/ZH, Switzerland/CH
Entry Deleted Capital
02.11.2009 Share
Capital CHF 79'524'000, paidup CHF 79'524'000
10.06.2008 02.11.2009 Share Capital CHF 61'664'000, paidup CHF
61'664'000
Entry Deleted Capital Structure
02.11.2009 8'460'000
Registered shares of CHF 9.40
10.06.2008 02.11.2009 6'560'000 Registered shares of CHF 9.40
Entry Deleted Activity (original Language)
04.10.2007 Der
Zweck der Gesellschaft ist die Entwicklung, Herstellung und der Vertrieb von
Maschinen und Apparaten aller Art sowie die Erbringung von Dienstleistungen in
den Bereichen elektronische Test- und Überwachungssysteme und Messinstrumente
für den Herstellungsprozess von Textilien und damit verwandten Gebieten. Die
Gesellschaft ist befugt, Zweigniederlassungen und Konzerngesellschaften in der
Schweiz und im Ausland zu errichten und sich an anderen Unternehmen im In- und
Ausland zu beteiligen. Die Gesellschaft kann für andere Gesellschaften des
Konzerns Sicherheiten gewähren und Garantieverpflichtungen übernehmen. Die
Gesellschaft kann ferner alle Geschäfte tätigen, die geeignet erscheinen, den
Zweck der Gesellschaft zu fördern, oder die mit diesem zusammenhängen. Die
Gesellschaft kann Grundstücke und Immaterialgüterrechte im In- und Ausland
erwerben, verwalten, verwerten und verkaufen sowie andere Gesellschaften finanzieren.
19.06.2007 04.10.2007 Die Gesellschaft bezweckt die Herstellung und
den Vertrieb von Maschinen und Apparaten aller Art sowie die Erbringung von
Dienstleistungen in den Bereichen elektronische Test- und Überwachungssysteme
und Messinstrumente für den Herstellungsprozess von Textilien und damit
verwandten Gebieten. Die Gesellschaft kann Patente, Handelsmarken und
technische und industrielle Kenntnisse erwerben, verwalten und übertragen; die
Gesellschaft kann sich an anderen Industrie- und Handelsunternehmen beteiligen,
im In- und Ausland Zweigniederlassungen errichten und Tochtergesellschaften
gründen und alle mit den vorgenannten Zwecken unmittelbar oder mittelbar
zusammenhängende Geschäfte tätigen. Die Gesellschaft kann Grundstücke im In-
und Ausland erwerben, verwalten und veräussern. Die Gesellschaft kann
Finanzierungsgeschäfte sowohl mit Dritten wie auch mit Aktionären oder mit ihr
direkt oder indirekt verbundenen Gesellschaften tätigen und kann auch für
Verpflichtungen ihrer Aktionäre und von direkt oder indirekt verbundenen
Gesellschaften Sicherheiten insbesondere in Form von Garantien, Pfändern,
Globalzessionen, Sicherungsübereignungen oder Sicherungsabtretungen stellen.
06.11.2006 19.06.2007 Dauernde Verwaltung und Veräusserung von
Beteiligungen an Unternehmen aller Art; sie kann Garantien zugunsten von
verbundenen Gesellschaften stellen, Grundstücke erwerben, halten und
veräussern.
Entry Deleted Remarks (original Language)
active Shares:
Die Übertragbarkeit der Namenaktien ist nach Massgabe der Statuten
beschränkt.
21.04.2010 Capital:
Die Gesellschaft hat mit Beschluss vom 30.03.2010 eine genehmigte
Kapitalerhöhung gemäss näherer Umschreibung in den Statuten beschlossen.
02.11.2009 Capital:
Kapitalerhöhung aus genehmigten Aktienkapital.
06.05.2009 Capital:
Die Gesellschaft hat mit Beschluss vom 31.03.2009 eine genehmigte
Kapitalerhöhung gemäss näherer Umschreibung in den Statuten beschlossen.
10.06.2008 Shares:
Bei der Kapitalherabsetzung vom 18.03.2008 wird der Nennwert der 6'560'000 Namenaktien
zu CHF 10.00 auf CHF 9.40 herabgesetzt und je CHF 0.60 pro Aktie zurückbezahlt;
die Beachtung der gesetzlichen Vorschriften von Art. 734 OR wird mit
öffentlicher Urkunde vom 03.06.2008 festgestellt.
04.10.2007 Reports:
Mitteilungen der Gesellschaft an die Aktionäre erfolgen durch die Publikation
im SHAB. Soweit das Gesetz zwingend eine persönliche Mitteilung verlangt,
erfolgen Mitteilungen der Gesellschaft an Aktionäre durch gewöhnlichen Brief an
die im Aktienbuch zuletzt eingetragene Adresse des Aktionärs.
19.06.2007 Merger:
Übernahme der Aktiven und Passiven der Uster Technologies AG, in Uster
(CH-320.3.049.161-3), gemäss Fusionsvertrag vom 18.06.2007 und Bilanz per
31.12.2006. Aktiven von CHF 95'453'000.-- und Passiven (Fremdkapital) von CHF
80'224'000.-- gehen auf die übernehmende Gesellschaft über. Da die übernehmende
Gesellschaft sämtliche Aktien der übertragenden Gesellschaft hält, findet weder
eine Kapitalerhöhung noch eine Aktienzuteilung statt.
11.12.2006 Contribution
in kind/Asset takeover: 153'799 Namenaktien zu CHF 100.-- der Uster
Technologies AG, in Uster, gemäss Sachübernahmevertrag vom 07.11.2006 zum Preis
von CHF 288'000'000.--.
11.12.2006 Intended
asset takeover: 701 Namenaktien zu CHF 100.-- der Uster Technologies AG, in Uster,
zum Preis von CHF 182'014.65.
06.11.2006 Publishing
authority: SHAB.
06.11.2006 Intended
asset takeover: 153'799 Namenaktien zu CHF 100.-- der Uster Technologies AG, in
Uster, zum Preis von maximal CHF 288'000'000.--.
Official Administration
Title Name
President Max-Ulrich
Zellweger, Origin:
Vice-President Harald Rönn,
Origin:
Executive
Director Dr.
Geoffrey Scott, Origin:
Executive
Director Akira
Onishi, Origin:
Executive
Director Barry
James Mulady, Origin:
Management
Title Name
Member
with signing authority Güldeniz
Bütüner, Origin:
Member
with signing authority Harold R.
Hoke, Origin:
Member
with signing authority Thomas
Dressendörfer, Origin:
Member
with signing authority Renato Murk,
Origin:
Member
with signing authority Rafael Storz,
Origin:
Member
with signing authority Richard
Furter, Origin:
Executive board
Title Name
Chief
Executive Officer Dr.
Geoffrey Scott
Chief
Financial Officer Thomas
Dressendörfer
Chief
Marketing & Sales Officer Güldeniz
Bütüner
Chief
Sales Officer Harold
R. Hoke
Chief
Development Officer Rafael
Storz
Chief
Logistics Officer Renato
Murk
Financial Data Uster Technologies
Group
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2009 31.12.2008 31.12.2007 31.12.2006 31.12.2005
Number of months: 12 12 12 12 12
Currency: th.
CHF th. CHF th. CHF th. CHF th.
CHF
Statement norm: IAS IAS IAS IAS IAS
Balance Sheet
Intangible fixed
assets 333'789.0 349'032.0 364'129.0 381'972.0 89'816.0
Land and buildings 2'452.0 2'667.0 3'000.0 3'369.0 3'514.0
Other tangible
fixed assets 7'208.0 5'572.0 3'957.0 3'753.0 3'468.0
Tangible fixed
assets 9'660.0 8'239.0 6'957.0 7'122.0 6'982.0
Financial fixed
assets 168.0 225.0 182.0 372.0 209.0
other fixed assets 17'652.0 17'825.0 19'921.0 3'501.0 12'877.0
Fixed assets 361'269.0 375'321.0 391'189.0 392'967.0 109'884.0
Stocks 10'451.0 12'233.0 15'893.0 15'819.0 11'655.0
Trade accounts
receivable 15'108.0 12'235.0 16'203.0 13'743.0 21'224.0
Liquid assets 15'053.0 7'490.0 5'383.0 8'393.0 13'485.0
other trade
accounts 1'840.0 1'734.0 2'615.0 5'174.0
Accruals 1'018.0 792.0 774.0 994.0 1'594.0
other current
assets 17'911.0 10'016.0 8'772.0 14'561.0 15'079.0
Current assets 43'470.0 34'484.0 40'868.0 44'123.0 47'958.0
Total assets 404'739.0 409'805.0 432'057.0 437'090.0 157'842.0
Capital 79'524.0 61'664.0 65'600.0 45'600.0 15'450.0
Other shareholders
funds 124'083.0 97'878.0 92'994.0 -862.0 6'480.0
Total shareholders
equity 203'607.0 159'542.0 158'594.0 44'738.0 21'930.0
Minority interests 0.0 0.0 0.0 0.0 0.0
long term debt
(financial debts) 114'277.0 154'036.0 168'795.0 277'081.0 25'900.0
Provisions 1'282.0 2'735.0 2'057.0 3'593.0 7'870.0
Other non current
liabilities 50'133.0 58'403.0 60'457.0 61'447.0 63'654.0
Non current
liabilities 165'692.0 215'174.0 231'309.0 342'121.0 97'424.0
short term debt
(financial debts) 11'900.0 12'111.0 10'218.0 11'800.0 13'000.0
Trade accounts
payable 4'434.0 7'277.0 12'705.0 16'573.0 10'965.0
Provisions 1'182.0 3'916.0 2'200.0 2'173.0
Accruals 11'212.0 10'940.0 15'561.0 18'070.0
other accounts
payable 6'712.0 845.0 1'470.0 1'615.0 14'523.0
other current
liabilities 19'106.0 15'701.0 19'231.0 21'858.0 14'523.0
Current
liabilities 35'440.0 35'089.0 42'154.0 50'231.0 38'488.0
Shareh. equity,
min. interests + liabilities 404'739.0 409'805.0 432'057.0 437'090.0 157'842.0
Profit and loss
account
Sales 100'763.0 154'893.0 186'666.0 163'900.0 143'651.0
Reduction of
proceeds 2'858.0 1'925.0 3'087.0 2'072.0 1'117.0
Net sales 97'905.0 152'968.0 183'579.0 161'828.0 142'534.0
Other operating
revenue 329.0 77.0 864.0 569.0 203.0
Operating revenue 98'234.0 153'045.0 184'443.0 162'397.0 142'737.0
Cost of goods sold 41'631.0 61'952.0 76'212.0 62'742.0 60'151.0
Gross profit 56'603.0 91'093.0 108'231.0 99'655.0 82'586.0
Other operating
expenses 49'146.0 72'193.0 74'478.0 53'571.0 53'418.0
Operating result 7'457.0 18'900.0 33'753.0 46'084.0 29'168.0
Interest revenues 609.0 2'739.0 1'706.0 1'198.0 2'077.0
Financial income 609.0 2'739.0 1'706.0 1'198.0 2'077.0
Interest expenses 7'653.0 12'950.0 28'571.0 5'913.0 5'827.0
Financial expenses 7'653.0 12'950.0 28'571.0 5'913.0 5'827.0
Financial result -7'044.0 -10'211.0 -26'865.0 -4'715.0 -3'750.0
Result before
extraordinary items 413.0 8'689.0 6'888.0 41'369.0 25'418.0
Result before
taxes 413.0 8'689.0 6'888.0 41'369.0 25'418.0
Taxes -665.0 3'373.0 3'301.0 11'412.0 7'027.0
Result before
minority interests 1'078.0 5'316.0 3'587.0 29'957.0 18'391.0
minority interests 0.0 0.0 0.0 0.0 0.0
Result for the
financial year 1'078.0 5'316.0 3'587.0 29'957.0 18'391.0
Cash flow
Depreciation 1'741.0 1'880.0 1'955.0 109.0 100.0
Cash flow 2'819.0 7'196.0 5'542.0 30'066.0 18'491.0
Cash flow from
operating activities 14'278.0 32'756.0 39'225.0 48'288.0 35'224.0
Investments in
tangible fixed assets 3'319.0 3'513.0 1'991.0 3'097.0 3'319.0
Cash flow from
investing activities -3'000.0 -3'347.0 -2'016.0 -2'644.0 -1'941.0
Cash flow from
financing activities -4'015.0 -27'413.0 -39'727.0 -54'801.0 -36'598.0
Others 300.0 111.0 -492.0 -355.0 418.0
Change in
liquidity 7'563.0 2'107.0 -3'010.0 -9'512.0 -2'897.0
Liquidity at
beginning of the year 7'490.0 5'383.0 8'393.0 13'485.0 16'382.0
Liquidity at end
ot the year 15'053.0 7'490.0 5'383.0 3'973.0 13'485.0
Notes
Material costs 41'631.0 61'952.0 76'212.0 62'742.0 60'151.0
Cost of employees 31'647.0 50'838.0 50'454.0 47'347.0 42'553.0
Research and
Development 11'010.0 19'857.0 18'645.0 15'313.0 16'006.0
Added value 41'454.0 23'519.0 88'707.0 94'738.0 73'898.0
Working Capital 21'125.0 17'191.0 19'391.0 19'234.0 21'914.0
Sales per Employee 218.1 285.4 347.0 330.3 281.1
Market
capitalisation 225'882.0 61'730.0 324'720.0
Gross cost land
and buildings 2'893.0 2'968.0 3'161.0 5'535.0 5'688.0
Gross cost other
tangible fixed assets 11'818.0 9'094.0 5'893.0 19'239.0 20'022.0
Gross cost total 14'711.0 12'062.0 9'054.0 24'774.0 25'710.0
Insurance value
land and buildings 5'325.0 5'548.0 5'851.0 6'554.0 6'078.0
Insurance value
other tang. fixed assets 25'537.0 24'315.0 21'465.0 22'757.0 27'319.0
Insurance value
total 30'862.0 29'863.0 27'316.0 29'311.0 33'397.0
Employees at year end 449 536 529 490 507
Owner/-s
No.
of Owner/-s: 1'021
Owner: The company is owned by
various parties.
Class: 20-29%
Name: Alcide Limited
City/Country:
No.
of shares: 2'358'377
Interest: 27.88% voting right,
27.88% capital interest (since 24.10.2007)
Class: 20-29%
Name: Toyota Industries
Corporation
City/Country:
No.
of shares: 1'900'000
Interest: 22.46% voting right,
22.46% capital interest (since 30.10.2009)
Class: 0-9%
Name: T. Rowe Price
International Inc
City/Country:
No.
of shares: 377'834
Interest: 4.47% voting right,
4.47% capital interest (since 31.10.2007)
Class: 0-9%
Name: Marc Philipp Bär
City/Country:
No.
of shares: 265'185
Interest: 3.10% voting right, 3.10%
capital interest (since 2008)
Class: 0-9%
Name: Balfidor Fondsleitung
AG
City/Country:
No.
of shares: 261'775
Interest: 3.09% voting right,
3.09% capital interest (since 18.03.2009)
Class: 0-9%
Name:
City/Country:
No.
of shares: 218'448
Interest: 2.58% voting right,
2.58% capital interest (since 27.02.2008)
Class: 0-9%
Name: Geoffrey Scott
City/Country:
No.
of shares: 213'945
Interest: 2.53% voting right,
2.53% capital interest (since 24.10.2007)
Class: 0-9%
Name: Swiss Small Cap Invest
AG
City/Country:
No.
of shares: 44'825
Interest: 1.40% voting right,
1.40% capital interest (since 2008)
Investments
Class: 100%
Name: Uster Technologies de
Mexico SA de CV
City/Country:
Interest: 100.00% voting right,
100.00% capital interest
Class: 100%
Name: Uster Technologies
GmbH
City/Country:
Interest: 100.00% voting right,
100.00% capital interest
Class: 100%
Name: Uster Technologies
Holding (
City/Country:
Interest: 100.00% voting right,
100.00% capital interest
Class: 100%
Name: Uster Technologies Inc
City/Country:
Interest: 100.00% voting right,
100.00% capital interest
Class: 100%
Name: Uster Technologies (
City/Country:
Interest: 100.00% voting right,
100.00% capital interest
Class: 100%
Name: Uster Technologies KK
City/Country:
Interest: 100.00% voting right,
100.00% capital interest
Class: 100%
Name: Uster Technologies (
City/Country:
Interest: 100.00% voting right,
100.00% capital interest
Class: 100%
Name: Uster Technologies
Sulamericana Ltda
City/Country:
Interest: 100.00% voting right,
100.00% capital interest
Class: 100%
Name: Uster Technologies (
City/Country:
Interest: 100.00% voting right,
100.00% capital interest (since 2005)
Class: 100%
Name: Uster Technologies (
City/Country:
Interest: 100.00% voting right,
100.00% capital interest
Class: 100%
Name: Uster Teknoloji
Ticaret AS
City/Country:
Interest: 100.00% voting right,
100.00% capital interest (since 2005)
Legal Actions
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
Situation: The financial situation
is good.
Payment
experiences: Payment habits are
considered good.
Maximum
Credit: CHF 3'000'000
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.59 |
|
|
1 |
Rs.72.31 |
|
Euro |
1 |
Rs.60.73 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.