MIRA INFORM REPORT

Report Date :

24.06.2011

IDENTIFICATION DETAILS

Name :	EVONIK CYRO LLC

Formerly Known As :	Cyro Industries.

Registered Office :	C/O The Corporation Trust Company, Corporation Trust Center 1209 Orange Street Wilmington New Castle De 19801

Country :	United States

Date of Incorporation :	30.06.2008

Com. Reg. No.:	4568670

Legal Form :	Limited Liability Company

Line of Business :	Manufacturing of all manner of acrylics

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory
Payment Behaviour :	Usually Correct
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 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

United States

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

Bottom of Form

GEOPOLITICS - UNITED STATES

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal

Economic Risk: Nil

Currency: USD

Branch Situation: Stable

IDENTIFICATION

Ordered as:	Evonik Cyro LLC
Address in the order:	379 Interspace Parkway Parsippany NJ 07054-0677

Legal Name:	EVONIK CYRO LLC

Legal Address	C/O THE CORPORATION TRUST COMPANY CORPORATION TRUST CENTER 1209 ORANGE STREET WILMINGTON NEW CASTLE DE 19801
Operative Address	379 INTERPACE PKWY PARSIPPANY NJ 07054
Telephone:	+1 800 631-5384 / 973-541-8000	Registration Number :	4568670
Fax:	+1 973 541-8447	Legal Form:	Limited Liability Company
Email:	cyroemail@evonik.com	Registered in:	Delaware
Website:	www.acrylite.net	Date Created:	1976
Manager:	John Rolando - President	Date Incorporated:	June 30, 2008
Staff:	700	Stock:	N.A.
		Value:	N.A.
Activity:	Manufacturing of all manner of acrylics

BANKS

Name of the Bank

PNC BANK

BUSINESS

HISTORY
	The company started operating in 1976. Evonik Cyro LLC was formerly known as Cyro Industries.
PRINCIPAL ACTIVITY
	Evonik Cyro's scope includes the manufacturing of all manner of acrylics. The company is a part of Evonik Methacrylates, the performance polymers unit of German specialty chemicals company EvonikDegussa.
Products/Services description:
	Evonik Cyro produces acrylic sheets and film and methyl methacrylates
Sales are:
	Wholesale
Brands:
	ACRYLITE
Clients:
	Among the markets it serves and end uses of its own products are: signage, sporting goods, jet and helicopter windows, hockey rink protective walls, office equipment, medical devices, and flat panel displays.
Operations area:
	National, International
The company export to Mexico, South & Central America and Caribbean
Competitors:
	- Arkema - Lucite International Group Limited - Sumitomo Chemical Company, Limited
The subject employs 700 employee(s)
LOCATION
Headquarters
	379 Interpace Pkwy. Parsippany, NJ 07054 USA
Comments on location:
	The company is incorporated in Delaware for tax purposes. However, it is headquartered in New Jersey.
Branches:
	Technical Service - Sheet Products: 1796 Main Street Sanford, ME 04073 It also has manufacturing locations in Osceola, Arizona; Sanford, Maine; and Wallingford, Connecticut.

Shareholders - Manager - Related Companies

Listed at the stock exchange:
	NO
Shareholders Parent Company(ies):
	The company is a part of Evonik Methacrylates, the performance polymers unit of German specialty chemicals company Evonik Degussa GmbH, itself owned by: Evonik Industries AG Rellinghauser Straße 1-11 45128 Essen
Management:
	John Rolando - President Robert S. (Bob) Wurst - CFO Rick Gammon - General Manager IT
Related Companies:
	The group has many subsidiaries, including: Evonik Degussa Argentina S.A Evonik Degussa Brasil Ltda. Evonik Cyro Canada Inc.

Financials - COMMERCIAL TRENDS AND FORECAST

As a private company the subject does not publish any financial statements.

However our financial sources could provide us with the following data.

Those figures are estimates provided by confidential banking and financial institutions working with the company.

Currency	DATE
USD	2010
Turnover	400,000,000

Legal Fillings

There are several UCC** files listed with different states, where the company appears as secured party.

There are no legal filings listed with the District Court.

THE COMPANY IS NOT LISTED ON THE OFAC LIST.*

For information:

* The Specially Designated Nationals (SDN) List is a publication of OFAC which lists individuals and organizations with whom United States citizens and permanent residents are prohibited from doing business.

** The Uniform Commercial Code (UCC) is one of a number of uniform acts that have been promulgated in conjunction with efforts to harmonize the law of sales and other commercial transactions in all 50 states within the United States of America.

The UCC deals primarily with transactions involving personal property (movable property), not real property (immovable property).

It allows a creditor to notify other creditors about a debtor’s assets used as collateral for a secured transaction by filing a public notice (financing statement) with a particular filing office.

The Uniform Commercial Code Bureau files and maintains on financial obligations (including IRS liens) incurred by individuals (in business as a sole proprietor), business entities and corporations.

Rating

Local credit bureau gave a correct credit rate.

The company is in Good Standing. This means that all local and federal taxes were paid on due date.

Final Opinion

The subject has 35 years experience in the business.

It is a large size company, part of a larger German group.

It operates in the Americas.

No adverse record has been found, and the company is well established in its market.

A credit line may be considered.

SUMMARY

FINANCIAL SUMMARY		DEBT COLLECTIONS AND PAYMENTS
Profitability	N.A.	Public Records	NO
Indebtedness	CONTROLLED	Payments	REGULAR
Cash	NORMAL

APPENDIX

Comments
	The operator informed us that per company policy, no information will be released without the name of the inquiring party.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.93
UK Pound	1	Rs.72.09
Euro	1	Rs.64.21

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.