MIRA INFORM REPORT

 

 

Report Date :           

11.07.2011

 

IDENTIFICATION DETAILS

 

Name :

WEIR MINERALS NETHERLANDS B.V.

 

 

Registered Office :

Egtenrayseweg 9, 5928PH Venlo

 

 

Country :

Netherlands

 

 

Date of Incorporation :

30.09.1994

 

 

Com. Reg. No.:

12032525

 

 

Legal Form :

Limited company

 

 

Line of Business :

Manufacturer of machinery and equipment

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

€ 500.000

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Netherlands

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

CONTACTINFORMATION    

 

Company name

Weir Minerals Netherlands B.V.

Tradename

Geho Pumps

 

Begemann Pumps

 

Roto-Jet

 

Weir Netherlands

 

Weir Minerals Netherlands B.V.

Address

Egtenrayseweg 9

 

5928PH Venlo

 

Netherlands

Mail address

Postbus 249

 

5900AE Venlo

 

Netherlands

Telephone number

0773895200

Telefax number

0773824844

E-mail address

wier@weirminerals.com

Website

www.weirminerals.com

VAT number

NL802996413B01

 

 

CREDIT LIMIT

 

Credit limit                                 A credit of € 500.000 may be granted

Specification credit limit             The company can fulfil all its obligations. Within the context of a credit

report the credit is maximalized to the shown credit limit.

 

Groep                                       consolidated BC and Pl of WEIR GROUP PLC(THE)

Clydesdale Bankers Exchange 20, Waterloo Street

G2 6DB GLASGOW

United Kingdom

Phone number +44 141 637 7111

FAX number +44 141 221 9789

Website address www.weir.co.uk

INTERNET E-MAIL address investor-relations@weir.co.uk

 

Date 31-12-2009 in EUR *1,000

Operating revenue (Turnover) : 1,540,749

P/L before tax : 188,392

P/L for period [=Net income] : 142,4

Cash flow : 193,036

Total assets : 1,715,322

Shareholders funds : 820,568

 

Current ratio (x) : 1.31

Profit margin (%) : 12.23

Return on shareholders funds (%) : 22.96

Return on capital employed (%) : 17.08

Solvency ratio (%) : 47.84

Price Earning Ratio (x) : 11.66

 

Number of employees : 8,805

Date 31-12-2008 in EUR *1,000

Operating revenue (Turnover) : 1,420,508

P/L before tax : 167,075

P/L for period [=Net income] : 178,912

Cash flow : 223,221

Total assets : 1,840,448

Shareholders funds : 741,207

 

Current ratio (x) : 1.18

Profit margin (%) : 11.76

Return on shareholders funds (%) : 22.54

Return on capital employed (%) : 15.52

Solvency ratio (%) : 40.27

Price Earning Ratio (x) : 3.80

 

Number of employees : 9,37

 

Date 31-12-2007 in EUR *1,000

Operating revenue (Turnover) : 1,446,796

P/L before tax : 155,16

P/L for period [=Net income] : 238,048

Cash flow : 270,305

Total assets : 1,673,275

Shareholders funds : 741,364

 

Current ratio (x) : 1.40

Profit margin (%) : 10.72

Return on shareholders funds (%) : 20.93

Return on capital employed (%) : 14.87

Solvency ratio (%) : 44.31

COMPANY INFORMATION  

 

Handelsregisternummer

12032525

Registered in

Chamber of commerce Limburg

First registration

30-09-1994

Act of foundation

28-09-1994

Date of constitution

1966

Continuation date

30-09-1994

Last change in statutes

30-06-2006

Legal form

Besloten Vennootschap (Limited company)

Place of constitution

Venlo

Capital

250.000

Issued capital

50.000

Paid up capital

50.000

Legal form at first registration

Besloten Vennootschap

 

NACE-code                   MANUFACTURE OF MACHINERY AND EQUIPMENT (29)

 

SBI- code                      Manufacture of pumps and compressors (2912)

 

Formal objective Vervaardiging van overige machinery en apparaten (28)

                       

Exploiteren van een of meer machinefabrieken en handel in pompen en

bronbemalingsartikelen en aannemen van werken; holding en financierings-objective

 

Employees                    Total: 317

 

 

COMPANY STRUCTURE

 

Shareholder

Weir B.V.

 

Egtenrayseweg 9

 

5928PH VENLO

 

Netherlands

 

KvK: 12032531

 

Active since: 05-10-1995

 

Percentage: 100.00%

Ultimate parent company

Weir Group Activities of holding companies Limited

 

Glasgow G2-6DB U.K.

 

990001830760

Holding company

Weir B.V.

 

Egtenrayseweg 9

 

5928PH VENLO

 

KvK: 12032531

 

 

Bankers                        ABN Amro Bankers NV ING Bankers NV

 

Real estate                    Unknown

 

The real estate is checked at the land registration office Object code: None registration type

 

 

MANAGEMENT

 

Management                 E.R. van Koert Ernst Ronald

Authorization: Limited authorization

Position: Manager

Date appointed: 07-01-2008

Date of birth: 28-06-1965

 

A.W.F. Mitchelson

Alan Wallace Fernie

Authorization: Fully authorized

Position: Manager

Date appointed: 06-08-2009

Date of birth: 30-03-1949

 

C. Zaalberg

Authorization: Fully authorized

Position: Manager

Date appointed: 19-12-2005

Date of birth: 09-04-1955

 

W. Giesen-Thissen Waltraud

Authorization: Limited authorization

Position: Financieel manager

Date appointed: 01 -01-2008

Date of birth: 17-03-1965

 

 

E.J.P. Alsters

Elisabeth Josephina Petronella

Authorization: Limited authorization

Position: Proxy

Date appointed: 27-10-2009

Date of birth: 27-04-1968

 

M.J.G. Beurskens-Hovens

Manuela Josephina Gerarda

Authorization: Limited authorization

Position: Proxy

Date appointed: 27-10-2009

Date of birth: 29-09-1970

 

G.J.H. Groetelaers

Gerardina Johanna Henriette

Authorization: Limited authorization

Position: Proxy

Date appointed: 27-10-2009

Date of birth: 27-09-1955

 

P.M.J. Heuvelmans

Peter Maria Johannes

Authorization: Limited authorization

Position: Proxy

Date appointed: 27-10-2009

Date of birth: 09-06-1968

 

R.W.P.A. Konisser

Roy Wilhelmina Peter Alexander

Authorization: Limited authorization

Position: Proxy

Date appointed: 27-10-2009

Date of birth: 15-02-1974

 

J.P.D. van Leeuwen

Johannes Pieter Dirk

Authorization: Limited authorization

Position: Proxy

Date appointed: 21 -02-2006

Date of birth: 30-01-1958

 

G.P.J. Schreurs

Authorization: Limited authorization

Position: Proxy

Date appointed: 06-11-2002

Date of birth: 08-07-1966

PAYMENT INFORMATION

 

Payment experiences     Payments are regular

Payments                     Based on multiple payment experiences up to € 50.000

 

Quarter: 3 2010: 57 Average days

Quarter: 4 2010: 48 Average days

Quarter: 1 2011: 52 Average days

Quarter: 2 2011: 52 Average days

 

 

invoices

current quarter

2011 Q1|

2010 Q4

2010 Q3

Total

260

100% 1.014.742

1.014.742

1.013.432

1.019.189

 

 

 

 

 

 

1

Within terms

145

56,6%

574.148

574.148

635.664

522.885

Delayed 0 - 30

94

35,7%

362.600

362.600

333.200

362.600

Delayed 31 - 60

21

7,7%

77.994

77.994

44.568

133.704

Delayed 61 - 90

 

 

 

Delayed 91 - 120

 

 

Delayed 120+ days

 

 

 

Financial information

 

Auditor                                     ernst & Young

 

Annual accounts                      there is no financial information published

 

Tendency                                 not to be judged because of the absence of sufficient financial information

 

Liquidity                                  More than Sufficient

 

 

History

 

Insteeeingsverklaringen               Over bookyear 2009 a consent agreement is filed

                                                Over bookyear 2008 a consent agreement is filed

Over bookyear 2007 a consent agreement is filed

 

 

Management                             Since 01-12-2010 is Proxy Alan Wallace Fernie Mitchelson out of office

                                                Since 27-10-2009 is Proxy Gerardina Johanna Henriette Groetelaers  appointed     

Since 27-10-2009 is Proxy Elisabeth Josephina Petronella Alsters appointed

Since 27-10-2009 is Proxy Manuela Josephina Gerarda Beurskens-Hovens appointed

Since 27-10-2009 is Proxy Peter Maria Johannes Heuveleans appointed

Since 27-10-2009 is Proxy Roy Wilhelmina Peter Alexander Konisser appointed.

Since 31-08-2009 is Proxy Chretien Frans Joseph Reijntjes out of office

Since 06-08-2009 is Proxy Alan Wallace Fernie Mitchelson appointed

Since 06-08-2009 is Proxy Scot Allen Seith out of office.

.

..

Company structure

 

Weir Group Activities of holding companies Limited (990001830760)

Glasgow G2-6DB U.K.

 

Weir B.V. (12032531)

VENLO

Subsidiary (100%)

 

Weir Minerals Netherlands B.V. (12032525)

Venlo

Subsidiary (100%)

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.33

UK Pound

1

Rs.70.74

Euro

1

Rs.63.65

 

 

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%)

 

 

 

 

 

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.