MIRA INFORM REPORT

Report Date :

23.03.2011

IDENTIFICATION DETAILS

Name :	LANXESS EMULSION RUBBER

Registered Office :	Rue Du Ried, 67610 La Wantzenau

Country :	France

Financials (as on) :	31.12.2009

Date of Incorporation :	November 2004

Com. Reg. No.:	47937237700024

Legal Form :	Simplified Joint Stock Company

Line of Business :	Manufacturer of synthetic rubber

RATING & COMMENTS

MIRA’s Rating :

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

Maximum Credit Limit :	2,000,000 Euro
Status :	Satisfactory
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 – December 31, 2010

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

France

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

Company Summary

company details

Company Number

47937237700024

Name

LANXESS EMULSION RUBBER

Activity(APE)

Fabrication de caoutchouc synthétique

(Manufacture of synthetic rubber)

Share capital

19,103,500

Registration Court

Strasbourg (67)

Legal form

Simplified joint stock company

Court Registry Number

20 0 5B001

Incorporation Date

11/2004

Formation Date

11/2004

Deregistration Date

Last account Date

31/12/2009

Nationality

France

Establishment details

Postal Address

RUE DU RIED,
67610 LA WANTZENAU,

Trading Address

RUE DU RIED,
67610 LA WANTZENAU,

Telephone

Fax

Type

Head office (one site company)

Status

Economically active

Formation Date

11/2004

Reason for formation

Other

Closure Date

Reason for closure

Reactivation Date

Production Role

Activity Nature

Activity Location

Other

Location surface

Seasonality

Department

Bas-Rhin(67)

Region

Alsace

District

Area

City

LA WANTZENAU

Size of urban area

Other establishments

Branches

1 branch entities in this company

Company number	47937237700024	Company name	LANXESS EMULSION RUBBER
Type	Head office (one site company)	Activityape	Fabrication de caoutchouc synthétique
Post Code	67610	City	LA WANTZENAU

Regionality	Legal unit with all establishments in same area
Mono-activity status	Legal unit having all establishments with the same main activity
Workforces
Workforce at address	250 to 499 employees
Company workforce	250 to 499 employees
Limit
Credit Information
Credit Limit	2,000,000 Euro

Synthesized Accounts

Period
Annual Return	31/12/2009	31/12/2008	31/12/2007
Account period (month)	12	12	12
Account Type	Normal Account	Normal Account	Normal Account
Currency	Euro	Euro	Euro
Active account
Capital not called
Total fixed assets	47,549,455	43,605,770	32,307,847
- Intangible assets	5,898,495	6,711,022	2,397,495
- Tangible assets	41,642,450	36,887,547	29,899,952
- Financial assets	8,510	7,200	10,400
Net current assets	55,681,013	58,099,630	66,108,686
- Stocks	30,536,020	33,012,804	32,904,336
- Advanced payments	NaN	NaN	NaN
- Receivables	24,400,181	24,964,142	33,012,248
- Securities and cash	454,809	2,447	111,597
- Prepaid expenses
Account regularization		239,672
Total Assets	103,230,468	101,945,072	98,416,533
Passive Account
Shareholder equity	32,538,247	21,666,255	22,586,671
- of which share capital	19,103,500	19,103,500	19,103,500
Other capital resources		804,900
Provisions for risks & charges	625,218	546,945	439,234
Liabilities	68,898,894	78,890,425	75,390,630
- Financial liabilities	36,017,211	52,156,542	39,723,738
- Advanced payments received
- Trade account payables	13,616,083	12,987,188	26,302,930
- Tax and social liabilities	8,567,260	6,137,703	5,079,165
- Other debts and fixed assets liabilities	8,736,878	4,038,527	4,284,797
Account of regularization	2,324,670	3,607,012
Total liabilities	103,230,467	101,945,072	98,416,533
Profit & Loss
Operating income	116,287,738	191,539,958	178,249,624
Net turnover	119,216,393	189,514,030	166,320,957
- of which net export turnover	112,398,226	166,956,440	139,433,618
Operating charges	125,008,543	190,119,050	176,665,862
Operating profit/loss	-8,720,805	1,420,908	1,583,762
Financial income	2,583,962	6,736,556	1,305,729
Financial charges	4,260,676	9,364,969	3,739,681
Financial profit/loss	-1,676,714	-2,628,413	-2,433,952
Pretax net operating income	-10,397,519	-1,207,504	-850,190
Extraordinary income		200,000	18,336
Extraordinary charges	107,979	62,209	446,348
Extraordinary profit/loss	-107,979	137,791	-428,012
Net profit/loss	-10,107,878	-1,069,713	-1,278,202

Event history

Status history

Date

Description

Company events history

Date	Description
08/10/2010	Bodacc C : Deposit accounts notice
20/04/2010	Bodacc B: Various editing or changing
09/02/2010	Updated articles of association
09/02/2010	Capital reduction
09/02/2010	Capital increase
31/12/2009	New accounts available
31/12/2009	Other modification of Establishment
11/12/2009	Minutes of general meeting of shareholders
11/12/2009	Private document
11/12/2009	Capital reduction
10/12/2009	Legal Gazette: Modification of the share capital
13/09/2009	Bodacc C : Deposit accounts notice
31/12/2008	New accounts available
23/10/2008	Bodacc C : Deposit accounts notice
22/01/2008	New Bodacc B ads detected
22/01/2008	Bodacc B: Various editing or changing
31/12/2007	New accounts available
27/09/2007	Private document
27/09/2007	Appointment/resignation of company officers
27/09/2007	Minutes of general meeting of shareholders

Establishment events history

Date	Description
21/01/2011	Update Rating
17/09/2010	Update Rating
17/09/2010	Update Limit
04/09/2010	Update Limit
03/09/2010	Update Rating
06/04/2010	Update Rating
21/12/2009	Update of phone numbers
01/09/2008	Update Rating
03/07/2008	Update Rating
09/12/2007	Update Limit
04/10/2007	Update Rating
13/06/2007	Update of phone numbers

Directors

Name	M WESTEPPE UWE	Manager position	Président
Date of birth		Place of birth
Type of manager	Individual	Name at birth of manager

Judgements / CCJs

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.97
UK Pound	1	Rs.73.35
Euro	1	Rs.63.98

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.

Company Summary

Synthesized Accounts

Company events history

Directors

Unit