MIRA INFORM REPORT
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Report Date : |
15.11.2011 |
IDENTIFICATION DETAILS
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Name : |
AKER WIRTH GMBH |
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Formerly Known As : |
WIRTH Maschinen- und Bohrgerate-Fabrik GmbH |
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Registered Office : |
Kolner Strasse 71-73, Erkelenz, 41812 |
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Country : |
Germany |
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Financials (as on) : |
31.12.2009 |
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Year of Establishment : |
1895 |
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Com. Reg. No.: |
8471 |
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Legal Form : |
Private Subsidiary Company |
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Line of Business : |
Subject is engaged Construction and Agriculture Machinery |
RATING & COMMENTS
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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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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Germany |
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 & address
Aker Wirth GmbH
Kolner Strasse 71-73
Erkelenz, 41812
Germany
Tel: 49 (2431) 8 30
Fax: 49 (2431) 83 267
Web: www.wirth-europe.com
Synthesis
Employees: 520
Company Type: Private Subsidiary
Corporate Family: 47
Companies
Ultimate Parent: Aker
Solutions ASA
Incorporation Date: 1895
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2009
Reporting Currency: Euro
Annual Sales: 266.2
Total Assets: 210.7
Business Description
Tunnel boring machines,
shaft boring machines, large diameter air lift drilling rigs, pile boring
machines for on- and offshore, drilling ship equipment, shield machines, raise
borers, components for oilfield rigs, mud pumps, pumps for transport of solids
and all necessary equipment therefore
Industry
Industry Construction and Agriculture
Machinery
ANZSIC 2006: 2462 - Mining and
Construction Machinery Manufacturing
NACE 2002: 2952 - Manufacture
of machinery for mining, quarrying and construction
NAICS 2002: 333131 - Mining
Machinery and Equipment Manufacturing
UK SIC 2003: 29521 -
Manufacture of machinery for mining
US SIC 1987: 3532 - Mining
Machinery and Equipment, Except Oil and Gas Field Machinery and Equipment
Key Executives
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Name |
Title |
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Christoph Kleuters |
Co-Geschaftsfuhrer |
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Peter Heinrichs |
Leiter-Verkauf |
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Werner Johnen |
Leiter-EDV |
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Friedhelm Allwicher |
Vorstandsmitglied |
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Manfred Schwenzfeier |
Leiter-Qualität |
Registered
No.(DEU): 8471
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7190468
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.6969855
Corporate Overview
Location
Kolner Strasse 71-73
Erkelenz, 41812
Germany
Tel: 49 (2431) 8 30
Fax: 49 (2431) 83 267
Web: www.wirth-europe.com
Sales EUR(mil): 191.4
Assets EUR(mil): 146.9
Employees: 520
Fiscal Year End: 31-Dec-2009
Industry: Construction
and Agriculture Machinery
Incorporation Date: 1895
Company Type: Private
Subsidiary
Quoted Status: Not
Quoted
Previous Name: WIRTH
Maschinen- und Bohrgerate-Fabrik GmbH
Registered No.(DEU): 8471
Geschaftsfuhrer Niko
Kleuters
Contents
· Industry Codes
· Business Description
· Brand/Trade Names
· Financial Data
· Subsidiaries
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
2462 - Mining and Construction Machinery Manufacturing
2451 - Pump and Compressor Manufacturing
2463 - Machine Tool and Parts Manufacturing
NACE 2002 Codes:
2912 - Manufacture of pumps and compressors
2942 - Manufacture of other metalworking machine tools
2952 - Manufacture of machinery for mining, quarrying and
construction
NAICS 2002 Codes:
333512 - Machine Tool (Metal Cutting Types) Manufacturing
333911 - Pump and Pumping Equipment Manufacturing
333120 - Construction Machinery Manufacturing
333913 - Measuring and Dispensing Pump Manufacturing
333131 - Mining Machinery and Equipment Manufacturing
US SIC 1987:
3531 - Construction Machinery and Equipment
3532 - Mining Machinery and Equipment, Except Oil and Gas Field
Machinery and Equipment
3561 - Pumps and Pumping Equipment
3586 - Measuring and Dispensing Pumps
3541 - Machine Tools, Metal Cutting Types
UK SIC 2003:
29121 - Manufacture of pumps
2942 - Manufacture of other metalworking machine tools
2952 - Manufacture of machinery for mining, quarrying and
construction
29521 - Manufacture of machinery for mining
Business
Description
Tunnel boring machines,
shaft boring machines, large diameter air lift drilling rigs, pile boring
machines for on- and offshore, drilling ship equipment, shield machines, raise
borers, components for oilfield rigs, mud pumps, pumps for transport of solids
and all necessary equipment therefore
More Business
Descriptions
· Aker Wirth GmbH is primarily engaged in manufacture of machinery for mining; manufacture of earth-moving equipment; and manufacture of equipment for concrete crushing and screening and roadworks.
· All Other General Purpose Machinery Manufacturing
Brand/Trade Names
WIRTH GmbH
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Corporate
Family |
Corporate
Structure News: |
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Total Corporate Family Members: 47 |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Lysaker |
Norway |
Oil Well Services and Equipment |
5,517.5 |
20,000 |
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Subsidiary |
Stavanger |
Norway |
Oil Well Services and Equipment |
950.3 |
2,476 |
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Subsidiary |
Lysaker, Akershus |
Norway |
Metal Mining |
756.6 |
1,635 |
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Subsidiary |
Stord |
Norway |
Oil Well Services and Equipment |
327.6 |
1,165 |
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Subsidiary |
Kristiansand S |
Norway |
Oil Well Services and Equipment |
1,352.9 |
1,058 |
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Subsidiary |
Bridgewater, NJ |
United States |
Business Services |
|
750 |
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Subsidiary |
Great Yarmouth |
United Kingdom |
Miscellaneous Capital Goods |
141.6 |
588 |
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Subsidiary |
Erkelenz |
Germany |
Construction and Agriculture Machinery |
266.2 |
520 |
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Subsidiary |
Lyon |
France |
Construction and Agriculture Machinery |
129.6 |
235 |
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Subsidiary |
Aberdeen |
United Kingdom |
Oil Well Services and Equipment |
125.9 |
516 |
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Subsidiary |
Houston, TX |
United States |
Oil and Gas Operations |
90.9 |
300 |
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Subsidiary |
Philadelphia, PA |
United States |
Water Transportation |
|
1,000 |
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Branch |
Tucson, AZ |
United States |
Miscellaneous Capital Goods |
108.8 |
200 |
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Branch |
Canonsburg, PA |
United States |
Engineering Consultants |
37.3 |
180 |
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Branch |
Mobile, AL |
United States |
Miscellaneous Capital Goods |
73.4 |
135 |
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Subsidiary |
Sao Paulo |
Brazil |
Construction Services |
75.0 |
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Subsidiary |
Mobile, AL |
United States |
Miscellaneous Capital Goods |
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Subsidiary |
Melbourne, VIC |
Australia |
Engineering Consultants |
104.3 |
245 |
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Subsidiary |
Warrington |
United Kingdom |
Construction Services |
67.7 |
191 |
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Subsidiary |
Warrington |
United Kingdom |
Business Services |
141.9 |
473 |
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Subsidiary |
Stockton On Tees |
United Kingdom |
Construction Services |
6.1 |
14 |
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Subsidiary |
Arendal |
Norway |
Miscellaneous Capital Goods |
160.0 |
167 |
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Subsidiary |
London |
United Kingdom |
Oil Well Services and Equipment |
43.6 |
124 |
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Subsidiary |
Fornebu, Akershus |
Norway |
|
113.0 |
103 |
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Subsidiary |
Lysaker |
Norway |
Engineering Consultants |
843.7 |
834 |
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Subsidiary |
Maidenhead |
United Kingdom |
Oil Well Services and Equipment |
281.9 |
620 |
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Subsidiary |
Aberdeen |
United Kingdom |
Miscellaneous Capital Goods |
0.0 |
11 |
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Subsidiary |
Egersund, Rogaland |
Norway |
Business Services |
146.7 |
501 |
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Subsidiary |
Fornebu, Akershus |
Norway |
Business Services |
255.5 |
483 |
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Subsidiary |
Fornebu, Akershus |
Norway |
Oil Well Services and Equipment |
63.9 |
110 |
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Subsidiary |
Stockton On Tees |
United Kingdom |
Business Services |
36.0 |
78 |
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Subsidiary |
London |
United Kingdom |
Business Services |
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Subsidiary |
Whitstable |
United Kingdom |
Miscellaneous Capital Goods |
17.6 |
64 |
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Subsidiary |
Whitstable |
United Kingdom |
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Subsidiary |
Whitstable |
United Kingdom |
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Subsidiary |
Stavanger, Rogaland |
Norway |
|
4.9 |
21 |
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Subsidiary |
Stockton On Tees |
United Kingdom |
Oil Well Services and Equipment |
3.2 |
16 |
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Subsidiary |
Kristiansand, Vest-Agder |
Norway |
|
26.4 |
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Subsidiary |
Fornebu, Akershus |
Norway |
Insurance (Property and Casualty) |
9.4 |
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Subsidiary |
Perth, WA |
Australia |
Oil Well Services and Equipment |
1.0 |
80 |
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Subsidiary |
Abu Dhabi |
United Arab Emirates |
Metal Mining |
2.0 |
50 |
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Subsidiary |
La Porte, TX |
United States |
Natural Gas Utilities |
35.5 |
30 |
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Subsidiary |
Moscow |
Russian Federation |
Oil Well Services and Equipment |
29.0 |
20 |
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Subsidiary |
Perth, WA |
Australia |
Engineering Consultants |
1.0 |
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Kværner Oil & Gas AS |
Subsidiary |
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Subsidiary |
Verdal |
Norway |
Oil Well Services and Equipment |
210.4 |
512 |
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Executive report
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Annual Profit & Loss
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|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate
(Period Average) |
0.719047 |
0.683679 |
0.730637 |
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Consolidated |
No |
No |
No |
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Total income |
266.2 |
295.1 |
265.2 |
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Raw materials and services |
113.2 |
139.2 |
131.4 |
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Net sales |
266.2 |
295.1 |
265.2 |
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Change in stock |
0.5 |
23.6 |
22.8 |
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Own work capitalised |
0.1 |
0.0 |
0.0 |
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Other operating income |
6.4 |
6.0 |
6.3 |
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Raw materials and consumables employed |
113.2 |
139.2 |
131.4 |
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Other external charges |
23.5 |
29.6 |
26.4 |
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Cost of goods sold |
136.7 |
168.8 |
157.8 |
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Cost of raw materials |
136.7 |
168.8 |
157.8 |
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Taxes and social security costs |
8.4 |
7.9 |
7.2 |
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Total payroll costs |
49.3 |
48.2 |
43.6 |
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Fixed asset depreciation and amortisation |
1.8 |
1.5 |
1.1 |
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Other operating costs |
75.1 |
121.8 |
105.5 |
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Net operating income |
47.8 |
45.2 |
39.1 |
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Interest received from loans |
- |
- |
0.2 |
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Other income |
0.3 |
0.7 |
0.6 |
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Interest payable on loans |
1.8 |
1.9 |
2.4 |
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Other expenses |
- |
0.4 |
- |
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Total expenses |
1.5 |
1.6 |
1.6 |
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Profit before tax |
46.3 |
43.6 |
37.5 |
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Provisions |
32.7 |
44.2 |
39.3 |
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Other taxes |
0.0 |
0.0 |
0.0 |
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Total taxation |
12.9 |
14.0 |
14.3 |
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Net profit |
33.4 |
29.6 |
23.2 |
Annual Balance Sheet
Financials in: USD
(mil)
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|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
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Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.696986 |
0.719399 |
0.683971 |
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Consolidated |
No |
No |
No |
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Issued capital |
13.4 |
13.0 |
13.6 |
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Capital reserves |
3.8 |
3.7 |
3.9 |
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Profits for the year |
82.5 |
53.6 |
33.0 |
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Total stockholders equity |
99.7 |
70.3 |
50.5 |
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Deferred taxation |
8.4 |
11.1 |
13.4 |
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Other provisions |
18.7 |
24.9 |
22.1 |
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Provision for pensions |
6.6 |
6.1 |
6.5 |
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Provisions and allowances |
33.7 |
42.0 |
42.0 |
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Taxes and social security |
3.7 |
3.5 |
3.7 |
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Total long-term liabilities |
3.7 |
3.5 |
3.7 |
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Trade creditors |
12.1 |
24.2 |
24.9 |
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Advances received |
36.3 |
38.2 |
26.9 |
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Taxation and social security |
2.9 |
15.5 |
4.1 |
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Due to group companies |
- |
- |
0.2 |
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Total current liabilities |
51.3 |
77.9 |
56.1 |
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Total liabilities (including net worth) |
210.7 |
215.2 |
175.1 |
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Patents |
0.5 |
0.4 |
0.4 |
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Goodwill |
0.2 |
0.2 |
0.3 |
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Intangibles |
0.7 |
0.6 |
0.7 |
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Land and buildings |
1.1 |
1.2 |
0.4 |
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Machinery and tools |
6.4 |
4.3 |
3.3 |
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Fixtures and equipment |
1.1 |
1.2 |
0.4 |
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Fixed assets under construction |
1.0 |
1.3 |
0.5 |
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Total tangible fixed assets |
9.7 |
7.9 |
5.4 |
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Long-term investments |
0.2 |
0.2 |
0.2 |
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Shares held in associated companies |
3.7 |
3.6 |
0.5 |
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Total financial assets |
3.9 |
3.8 |
0.7 |
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Total non-current assets |
14.3 |
12.3 |
6.7 |
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Net stocks and work in progress |
113.2 |
108.0 |
85.0 |
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Trade debtors |
30.8 |
48.1 |
55.4 |
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Other receivables |
2.6 |
4.4 |
5.1 |
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Total receivables |
46.6 |
60.8 |
61.6 |
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Owing from associated companies |
13.1 |
8.3 |
0.5 |
|
Owing from participants |
0.1 |
0.1 |
0.6 |
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Cash and liquid assets |
36.6 |
34.1 |
21.3 |
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Total current assets |
196.4 |
202.9 |
167.9 |
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Prepaid expenses and deferred costs |
0.0 |
0.0 |
0.5 |
|
Total assets |
210.7 |
215.2 |
175.1 |
Annual Ratios
Financials
in: USD (mil)
|
|
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
|
Period Length |
12 Months |
12 Months |
12 Months |
|
Filed Currency |
EUR |
EUR |
EUR |
|
Exchange Rate |
0.696986 |
0.719399 |
0.683971 |
|
Consolidated |
No |
No |
No |
|
|
|
|
|
|
Current ratio |
38.31 |
26.06 |
29.94 |
|
Acid test ratio |
16.23 |
12.19 |
14.78 |
|
Total liabilities to net worth |
0.06% |
0.12% |
0.12% |
|
Net worth to total assets |
0.05% |
0.03% |
0.03% |
|
Current liabilities to net worth |
0.05% |
0.11% |
0.11% |
|
Current liabilities to stock |
0.05% |
0.07% |
0.07% |
|
Fixed assets to net worth |
0.01% |
0.02% |
0.01% |
|
Collection period |
409.00 |
624.00 |
715.00 |
|
Stock turnover rate |
4.12 |
3.85 |
3.00 |
|
Profit margin |
0.01% |
0.01% |
0.01% |
|
Return on assets |
0.02% |
0.01% |
0.02% |
|
Shareholders' return |
0.03% |
0.04% |
0.05% |
|
Sales per employee |
39.46 |
43.57 |
42.13 |
|
Profit per employee |
4.96 |
4.37 |
3.68 |
|
Average wage per employee |
7.31 |
7.12 |
6.93 |
|
Net worth |
99.7 |
70.3 |
50.5 |
|
Number of employees |
485 |
463 |
460 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.85 |
|
UK Pound |
1 |
Rs.80.36 |
|
Euro |
1 |
Rs.68.83 |
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 |
|
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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.