MIRA INFORM REPORT
|
Report Date : |
24.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
ITW GEMA GMBH |
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Registered Office : |
Mövenstrasse 17, 9015 St. Gallen |
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Country : |
Switzerland |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
10.05.1982 |
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Com. Reg. No.: |
320.3.021.491-5 / 432275 |
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Legal Form : |
Limited Liability Company |
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|
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Line of Business : |
manufacture and distribution
of apparatus and equipment for electrostatic coating of powder |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment
Behaviour : |
Regular |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Switzerland |
a1 |
a1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Company name
ITW Gema GmbH
Operating address
Mövenstrasse 17
9015 St. Gallen
Switzerland/CH
Telephone: 071
3138300
Fax: 071
3138383
Web
site: http://www.itwgema.ch
E-mail: info@itwgema.ch
VAT-No.: CHE-101.823.789
Profile
Established: 1897
History: 1897: Established from Gehrig + Mannhard
Line
of Business: Machinery
Industry
Division: Manufacturing
Industry-code (NACE): 2899 Manufacture of other special-purpose
machinery n.e.c.
Import/Export: Export
Export
sales: 95.0%
Quality
certification: ISO 9001:2000
Banks: CS Credit Suisse
Operational Figures
Coverage: Company
Employees: 140
Activity
The business activities includes the manufacture and distribution of
apparatus and equipment for electrostatic coating of powder. Brand: GEMA.
Real Estate
Real Estate: It
is understood that the company owns certain property.
Company Register
Company
No: 320.3.021.491-5 /
432275
Legal
form: Limited liability
company
Registration: 10.05.1982
Legal
status: active
Responsible
Register: Handelsregister des Kantons
St. Gallen
Auditor: Deloitte AG, Zürich
History: Date of Statutes:
24.06.1998
Date of
Statutes: 02.08.1995
Date of
Statutes: 13.12.1990
Date of
Incorporation Statutes: 07.05.1982
Date of
Statutes: 27.02.2008
Entry Deleted Name
03.03.2008 ITW
Gema GmbH
03.03.2008 ITW
Gema Sàrl (Name translated)
03.03.2008 ITW
Gema LLC (Name translated)
removed Ransburg-Gema AG
removed Gema Volstatic AG
03.03.2008 ITW Gema AG
removed Gema Volstatic Ltd (Name translated)
removed Gema Volstatic SA (Name translated)
03.03.2008 ITW Gema SA (Name translated)
03.03.2008 ITW Gema Ltd (Name translated)
Entry Deleted Legal domicile
active St.
Gallen, Switzerland
Entry Deleted Address
active Mövenstrasse
17, 9015 St. Gallen/SG, Switzerland/CH
Entry Deleted Capital
03.03.2008 LLC
Capital CHF 2'500'000
Entry Deleted Capital Structure
03.03.2008 1
Participation shares of CHF 2'500'000.--
Entry Deleted Activity (original Language)
active Alle
Arten von industriellen Ausrüstungsgütern, insbesondere elektrostatische Beschichtungsgeräte
sowie verwandte Produkte zu kaufen, zu produzieren, zusammenzustellen, zu
vertreiben und zu verkaufen; Patente, Handelsmarken und technische und
industrielle Kenntnisse zu erwerben, zu verwalten, zu verwerten und zu
übertragen; technische und administrative Beratungsdienste zu leisten; sich an
Industrie- und Handelsunternehmen zu beteiligen.
Entry Deleted Remarks (original Language)
active Publishing
authority: SHAB.
03.03.2008 Reports:
Die Mitteilungen an die Gesellschafter erfolgen per Brief, E-Mail oder Telefax.
03.03.2008 Change
of Corporate Form: Die Gesellschaft wird gemäss Umwandlungsplan vom 16.01.2008
und Bilanz per 30.11.2007 mit Aktiven von CHF 53'234'398.-- und Passiven
(Fremdkapital) von CHF 23'771'273.-- in eine Gesellschaft mit beschränkter
Haftung umgewandelt. Die Aktionärin erhält für ihre bisherigen Aktien einen
Stammanteil zu CHF 2'500'000.--.
Management
Title Name
General
Manager Claudio
Merengo, Origin: Italy, Address: Mailand, Italy, single signature
Chairman
of the management Rolf Müller,
Origin: Ossingen, Switzerland, Address: 9500 Wil /SG, Switzerland, single
signature
Vice-Director Markus Lenherr,
Origin: Gams, Switzerland, Address: St. Gallen/SG, Switzerland, joint signature
of two
Member
with procuration Felix
Mauchele, Origin: St. Gallen, Switzerland, Address: Abtwil/SG, Switzerland,
joint power of attorney of two
Member
with procuration Karin
Schena, Origin: Gommiswald, Switzerland, Address: Bischofszell, Switzerland,
joint power of attorney of two, Appointment: 13.12.2010
Member
with procuration Silvano
Gelain, Origin: Italy, Address: Abtwil, Switzerland, joint power of attorney of
two
Member
with procuration Christian
Gföhler, Origin: Zell ZH, Switzerland, Address: Elgg, Switzerland, joint power
of attorney of two, Appointment: 13.12.2010
Member
with procuration Beat
Duppenthaler, Origin: Melchnau, Switzerland, Address: Gossau/SG, Switzerland,
joint power of attorney of two
Member
with procuration Bruno Egger,
Origin: Eggersriet, Switzerland, Address: Goldach, Switzerland, joint power of
attorney of two
Executive board
Title Name
Chief
Executive Officer Rolf
Müller
Chief
Sales Officer Markus
Lenherr
Financial Data ITW Group
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2010 31.12.2009 31.12.2008 31.12.2005 31.12.2004
Number of months: 12 12 12 12 12
Currency: th.
USD th. USD th. USD th. USD th.
USD
Balance Sheet
Intangible fixed
assets 6'573'943.0 6'584'149.0 6'297'219.0
Tangible fixed
assets 2'023'045.0 2'136'527.0 2'109'432.0
Financial fixed
assets 441'606.0 451'293.0 465'894.0
other fixed assets 1'243'278.0 1'235'420.0 577'027.0
Fixed assets 10'281'872.0 10'407'389.0 9'449'572.0
Stocks 1'547'447.0 1'356'233.0 1'774'697.0
Trade accounts
receivable 2'678'084.0 2'491'492.0 2'571'987.0
Liquid assets 1'190'038.0 1'318'772.0 742'950.0
other trade
accounts 552'832.0 508'098.0 664'345.0
other current
assets 1'742'870.0 1'826'870.0 1'407'295.0
Current assets 5'968'401.0 5'674'595.0 5'753'979.0
Total assets 16'250'273.0 16'081'984.0 15'203'551.0 11'445.6 11'351.9
Capital 466'191.0 276'335.0 110'815.0 2.8 2.9
Other shareholders
funds 8'904'085.0 8'541'541.0 7'552'660.0
Total shareholders
equity 9'370'276.0 8'817'876.0 7'663'475.0 7'546.9 7'627.6
Minority interests 10'970.0 0.0 11'616.0
long term debt
(financial debts) 2'511'959.0 2'914'874.0 1'247'883.0
Other non current
liabilities 1'263'476.0 1'513'596.0 1'455'484.0
Non current
liabilities 3'775'435.0 4'428'470.0 2'703'367.0
short term debt
(financial debts) 317'787.0 213'681.0 2'433'973.0
Trade accounts
payable 754'117.0 689'572.0 683'991.0
Accruals 1'393'399.0 1'359'394.0 1'315'106.0
other accounts
payable 628'289.0 572'991.0 392'023.0
other current
liabilities 2'021'688.0 1'932'385.0 1'707'129.0
Current
liabilities 3'093'592.0 2'835'638.0 4'825'093.0
Shareh. equity,
min. interests + liabilities 16'250'273.0 16'081'984.0 15'203'551.0
Profit and loss
account
Sales 15'870'376.0 13'877'068.0 17'100'341.0
Net sales 15'870'376.0 13'877'068.0 17'100'341.0
Other operating
revenue 0.0 0.0 4'710.0
Operating revenue 15'870'376.0 13'877'068.0 17'105'051.0 12'921.8 11'731.4
Cost of goods sold 10'240'448.0 9'144'852.0 11'186'871.0
Gross profit 5'629'928.0 4'732'216.0 5'918'180.0
Other operating
expenses 3'273'250.0 3'384'812.0 3'412'184.0
Operating result 2'356'678.0 1'347'404.0 2'505'996.0 2'259.2 2'056.6
Interest revenues 0.0 17'551.0 0.0
other financial
revenues 30'771.0 4'944.0 0.0
Financial income 30'771.0 22'495.0 0.0
Interest expenses 175'456.0 164'839.0 154'458.0
other financial
expenses 0.0 24'948.0 172'090.0
Financial expenses 175'456.0 189'787.0 326'548.0
Financial result -144'685.0 -167'292.0 -326'548.0
Result before
extraordinary items 2'211'993.0 1'180'112.0 2'179'448.0
Result before
taxes 2'211'993.0 1'180'112.0 2'179'448.0
Taxes 684'800.0 233'103.0 660'445.0
Result before
minority interests 1'527'193.0 947'009.0 1'519'003.0 1'494.9 1'338.7
Result for the
financial year 1'527'193.0 947'009.0 1'519'003.0
Cash flow
Depreciation 334'388.0 366'127.0 367'615.0 368.4 331.6
Cash flow 1'861'581.0 1'313'136.0 1'886'618.0
Cash flow from
operating activities 1'560'790.0 2'146'589.0 2'222'224.0
Investments in
tangible fixed assets 286'172.0 247'102.0 362'312.0
Cash flow from
investing activities -606'844.0 -504'122.0 -1'763'317.0
Cash flow from
financing activities -1'047'933.0 -1'250'367.0 -461'479.0
Others -34'747.0 183'722.0 -82'002.0
Change in
liquidity -128'734.0 575'822.0 -84'574.0
Liquidity at
beginning of the year 1'318'772.0 742'950.0 827'524.0
Liquidity at end ot
the year 1'190'038.0 1'318'772.0 742'950.0
Notes
Added value 2'721'837.0 1'711'078.0 2'701'521.0
Working Capital 3'471'414.0 3'158'153.0 3'662'693.0
Sales per Employee 260.2 235.2 310.9
Market
capitalisation 24'708.9 27'083.7
Gross cost land
and buildings 1'904'883.0 1'928'353.0 1'783'775.0
Gross cost other
tangible fixed assets 4'055'717.0 4'128'177.0 3'878'960.0
Gross cost total 5'960'600.0 6'056'530.0 5'662'735.0
Employees at year end 61'000 59'000 55'000 50'000 49'000
Ultimate Parent Company
Name: Illinois Tool Works
Inc
City/Country: Glenview, United States of
America/US
Owner/-s
No.
of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Name: Orgapack GmbH
City/Country: Dietikon, Switzerland/CH
Capital
share: CHF 2'500'000.--
Interest: 100.00% voting right,
100.00% capital interest
Sisters
Name: Forkardt Schweiz GmbH
City/Country: Effretikon, Switzerland/CH
Name: ITW Poly Recycling
GmbH
City/Country: Weinfelden, Switzerland/CH
Name: Orgapack Sarl
City/Country: Reims, France/FR
Investments
It is believed that the company has no investments.
Legal Actions
Control date Year No. Amount CHF Status
23.03.2010 2010 0
23.03.2010 2009 0
23.03.2010 2008 0
23.03.2010 2007 0
23.03.2010 2006 0
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
Statements: The company does not
disclose any financial statements. Third parties are not permitted any insight
into the financial affairs. It is therefore difficult to make a proper
assessment of the actual situation.
Financial
Situation: The financial situation
is in order.
Payment
experiences: Payment habits are
considered good.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.28 |
|
UK Pound |
1 |
Rs.73.30 |
|
Euro |
1 |
Rs.63.61 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.