MIRA
INFORM REPORT
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Report Date : |
02.09.2011 |
IDENTIFICATION DETAILS
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Name : |
SALZGITTER MANNESMANN INTERNATIONAL GMBH |
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Registered Office : |
Schwannstrasse 12 Düsseldorf, 40476 |
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Country : |
Germany |
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Date of Incorporation : |
01.09.1993 |
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Com. Reg. No.: |
30081 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Wholesale of metals and ores |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 and address
Salzgitter Mannesmann International GmbH
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Business
Description
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International trade in steel, chemical products and pharmaceutical
materials; trade in machinery for processing steel, plastic and glass |
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Industry
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Industry |
Miscellaneous Capital Goods |
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ANZSIC 2006: |
3322 - Metal and Mineral Wholesaling |
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NACE 2002: |
5152 - Wholesale of metals and ores |
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NAICS 2002: |
423510 - Metal Service Centers and Other
Metal Merchant Wholesalers |
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UK SIC 2003: |
5152 - Wholesale of metals and ores |
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US SIC 1987: |
5051 - Metals Service Centers and Offices |
Key
Executives
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News
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1 - Profit &
Loss Item Exchange Rate: USD 1 = EUR 0.7190468
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.6969855
Corporate Overview
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Corporate Structure News
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Salzgitter
Mannesmann International GmbH |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Salzgitter |
Germany |
Iron and Steel |
11,457.0 |
24,639 |
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Subsidiary |
Cheu |
France |
Construction - Supplies and Fixtures |
183.8 |
1,159 |
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Subsidiary |
Hamm |
Germany |
Iron and Steel |
229.5 |
800 |
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Subsidiary |
Osnabrück, Niedersachsen |
Germany |
Engineering Consultants |
75.0 |
300 |
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Subsidiary |
Crimmitschau, Sachsen |
Germany |
Auto and Truck Parts |
|
200 |
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Subsidiary |
Düsseldorf |
Germany |
Miscellaneous Capital Goods |
4,005.3 |
132 |
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Salzgitter Mannesmann Stahlhandel Gesellschaft mit
beschränkter Haftung |
Subsidiary |
Düsseldorf, Nordrhein-Westfalen |
Germany |
Miscellaneous Capital Goods |
|
1,000 |
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Subsidiary |
Hildesheim, Niedersachsen |
Germany |
Miscellaneous Capital Goods |
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32 |
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Stahl-Center Baunatal Gesellschaft mit beschränkter
Haftung |
Subsidiary |
Baunatal, Hessen |
Germany |
Miscellaneous Transportation |
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20 |
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Subsidiary |
Düsseldorf |
Germany |
Miscellaneous Capital Goods |
3,198.7 |
200 |
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Subsidiary |
Guangzhou |
China |
Miscellaneous Capital Goods |
|
100 |
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Subsidiary |
Houston, TX |
United States |
Miscellaneous Fabricated Products |
3,750.0 |
20 |
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Branch |
Houston, TX |
United States |
Iron and Steel |
33.3 |
75 |
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Subsidiary |
Mexico City, Distrito Federal |
Mexico |
Miscellaneous Capital Goods |
0.0 |
13 |
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Subsidiary |
Budapest |
Hungary |
Oil Well Services and Equipment |
|
11 |
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Subsidiary |
Vancouver, BC |
Canada |
Consumer Financial Services |
4.0 |
5 |
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Subsidiary |
Mönchengladbach, Nordrhein-Westfalen |
Germany |
Miscellaneous Capital Goods |
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20 |
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Subsidiary |
Milano, Milano (Milan) |
Italy |
Miscellaneous Capital Goods |
1.2 |
7 |
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Subsidiary |
Oosterhout Nb, Noord-Brabant |
Netherlands |
Miscellaneous Financial Services |
159.9 |
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Subsidiary |
St Mande |
France |
Miscellaneous Capital Goods |
5.2 |
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Subsidiary |
Oosterhout |
Netherlands |
Consumer Financial Services |
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Subsidiary |
Düsseldorf |
Germany |
Consumer Financial Services |
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Subsidiary |
Drachten |
Germany |
Consumer Financial Services |
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Subsidiary |
Duisburg |
Germany |
Containers and Packaging |
13.3 |
50 |
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Subsidiary |
Hamburg |
Germany |
Miscellaneous Capital Goods |
135.3 |
300 |
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Salzgitter Automotive Engineering
Beteiligungsgesellschaft mbH |
Subsidiary |
Osnabrück, Niedersachsen |
Germany |
Engineering Consultants |
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25 |
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Subsidiary |
Salzgitter, Niedersachsen |
Germany |
Commercial Banks |
167.8 |
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Subsidiary |
Frankfurt am Main |
Germany |
Miscellaneous Fabricated Products |
1,132.5 |
5,416 |
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Subsidiary |
Dortmund |
Germany |
Miscellaneous Capital Goods |
785.9 |
5,690 |
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Subsidiary |
Waukesha, WI |
United States |
Miscellaneous Capital Goods |
43.5 |
250 |
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Branch |
Sarasota, FL |
United States |
Medical Equipment and Supplies |
32.5 |
101 |
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Subsidiary |
Sandton |
South Africa |
Miscellaneous Capital Goods |
90.0 |
25 |
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Subsidiary |
Dortmund, Nordrhein-Westfalen |
Germany |
Miscellaneous Capital Goods |
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25 |
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Subsidiary |
Torcy |
France |
Appliance and Tool |
1.7 |
14 |
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Subsidiary |
Breda, Noord-Brabant |
Netherlands |
Construction and Agriculture Machinery |
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6 |
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Subsidiary |
Almaty |
Kazakhstan |
Miscellaneous Capital Goods |
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Subsidiary |
Moscow |
Russian Federation |
Food Processing |
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Subsidiary |
St. Gallen, St. Gall |
Switzerland |
Iron and Steel |
625.0 |
1,100 |
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Subsidiary |
Hannover |
Germany |
Miscellaneous Capital Goods |
1.0 |
120 |
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Subsidiary |
Salzgitter, Niedersachsen |
Germany |
Business Services |
181.9 |
2,368 |
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Subsidiary |
Mülheim An Der Ruhr, Nordrhein-Westfalen |
Germany |
Construction - Supplies and Fixtures |
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1,100 |
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Subsidiary |
Montbard |
France |
Construction - Supplies and Fixtures |
202.0 |
337 |
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Subsidiary |
Remscheid, Nordrhein-Westfalen |
Germany |
Construction - Supplies and Fixtures |
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300 |
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Subsidiary |
Costa Volpino, Bergamo |
Italy |
Construction - Supplies and Fixtures |
212.5 |
291 |
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Subsidiary |
Salzgitter |
Germany |
Miscellaneous Transportation |
140.1 |
780 |
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Subsidiary |
Mülheim An Der Ruhr, Nordrhein-Westfalen |
Germany |
Iron and Steel |
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740 |
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Subsidiary |
Mülheim An Der Ruhr, Nordrhein-Westfalen |
Germany |
Schools |
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700 |
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Subsidiary |
Siegen |
Germany |
Construction - Supplies and Fixtures |
371.8 |
600 |
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Subsidiary |
Dortmund, Nordrhein-Westfalen |
Germany |
Construction - Supplies and Fixtures |
214.3 |
450 |
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Subsidiary |
Neuss |
Germany |
Miscellaneous Capital Goods |
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400 |
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Subsidiary |
Couzon Au Mont D Or |
France |
Miscellaneous Capital Goods |
14.5 |
14 |
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Subsidiary |
Papendrecht, Zuid-Holland |
Netherlands |
Miscellaneous Capital Goods |
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7 |
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Subsidiary |
Salzgitter, Niedersachsen |
Germany |
Biotechnology and Drugs |
33.8 |
315 |
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Subsidiary |
Peine |
Germany |
Miscellaneous Capital Goods |
443.7 |
255 |
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Subsidiary |
Schwerte, Nordrhein-Westfalen |
Germany |
Miscellaneous Capital Goods |
268.3 |
200 |
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Subsidiary |
Schwerte |
Germany |
Iron and Steel |
1.0 |
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Subsidiary |
Salzgitter, Niedersachsen |
Germany |
Construction - Supplies and Fixtures |
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150 |
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Subsidiary |
Hamburg, Hamburg |
Germany |
Miscellaneous Transportation |
1.0 |
110 |
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Subsidiary |
Helmond, Noord-Brabant |
Netherlands |
Construction - Supplies and Fixtures |
41.1 |
100 |
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Subsidiary |
Salzgitter, Niedersachsen |
Germany |
Miscellaneous Fabricated Products |
61.5 |
90 |
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Subsidiary |
Salzgitter, Niedersachsen |
Germany |
Iron and Steel |
0.1 |
60 |
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Subsidiary |
Peine, Niedersachsen |
Germany |
Business Services |
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33 |
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Subsidiary |
Mülheim An Der Ruhr, Nordrhein-Westfalen |
Germany |
Construction - Supplies and Fixtures |
2,201.0 |
30 |
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Subsidiary |
Mülheim an der Ruh |
Germany |
Iron and Steel |
478.6 |
1,100 |
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Subsidiary |
Hamm |
Germany |
Iron and Steel |
371.1 |
1,070 |
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Subsidiary |
Zeithain |
Germany |
Iron and Steel |
1.0 |
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Subsidiary |
Mülheim An Der Ruhr, Nordrhein-Westfalen |
Germany |
Business Services |
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20 |
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Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Business Services |
1.6 |
4 |
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Subsidiary |
Mülheim An Der Ruhr, Nordrhein-Westfalen |
Germany |
Commercial Banks |
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3 |
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Subsidiary |
Hamm, Nordrhein-Westfalen |
Germany |
Construction - Supplies and Fixtures |
6.5 |
800 |
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Subsidiary |
Zeithain, Sachsen |
Germany |
Construction - Supplies and Fixtures |
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400 |
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Subsidiary |
Bochum |
Germany |
Personal and Household Products |
75.0 |
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Subsidiary |
Salzgitter |
Germany |
Water Transportation |
57.8 |
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Subsidiary |
Salzgitter |
Germany |
Iron and Steel |
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Subsidiary |
Salzgitter, Niedersachsen |
Germany |
Iron and Steel |
3,342.7 |
4,400 |
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Subsidiary |
Peine, Niedersachsen |
Germany |
Iron and Steel |
1,387.1 |
1,200 |
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Subsidiary |
Ilsenburg, Sachsen-Anhalt |
Germany |
Iron and Steel |
350.0 |
740 |
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Subsidiary |
Peine |
Germany |
Real Estate Operations |
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Subsidiary |
Salzgitter |
Germany |
Miscellaneous Fabricated Products |
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Executives Report
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End of the pipe
ArabianBusiness.com: 05 November 2010
[What follows is the full text of the news story.]
The origins of the
Tawleewah-Furairah pipeline project reach back as far as 1989. In November that
year, the Gulf Cooperation Council (GCC) summit discussed the idea of the most
ambitious domestic Middle Eastern gas project ever suggested. The idea was to
create a transnational pipeline that fused the national grids of Saudi Arabia,
Kuwait, Bahrain, and the UAE into a single network.Central to that plan was
Qatar?s enormous North Field, an offshore area that the country shares with
Iran. Qatar being strategically placed in the Gulf ? at the tip of Saudi
Arabia, and effectively between Bahrain and the UAE ? could seemingly supply
the region?s gas needs �while monetising its reserves and fueling its own
economic growth. The Dolphin project was born.In the intervening years the
dream of a pan-Gulf pipeline has been scaled back but work on completing
Dolphin as a linkup of Qatar with its less gas-rich partners, the UAE and Oman,
continues.Next month should see the completion of one of the most important
stages of the project the Tawleewah-Fujairah link.The gas is produced on two
offshore platforms, transported via dedicated sealines to Ras Laffan for processing
and then pumped through a sub-sea pipeline to Taweelah, Abu Dhabi on the
Persian Gulf coast of the UAE. The pipeline runs overland from Taweelah and
ends after 246 km in Qidfa, Emirate of Fujairah.The project has also become
major imitative for the Abu Dhabi Water & Electricity Authority (ADWEA) and
its ability to continue to supply the Emirate?s energy needs. When completed,
it will supply 56.6 million cubic metres of gas per day to customers.Route
obstaclesThe project presented several challenges including a route that took
in large, barren stretches of Abu Dhabi?s territory before winding its way
through parts of several other Emirates, crossing the Hajjar Mountains and
descending into Fujairah. And then there was the red-tape to cross.Despite strong
support from authorities, not least from the ADWEA, and the clear benefits of
the project, permits had to be applied for and negotiated over with the
relevant authorities to cover environmental, safety, municipal and other
regulations before work could begin.?The construction challenge has been
phenomenal considering the timeframe and the tough conditions associated with
laying a 48 in pipeline across the harsh desert and mountainous terrain,? said
Ibrahim Ahmed Al Ansari, General Manager, UAE, Dolphin Energy as he outlined
some of the challenges involved in the project.He continued: ?The most
significant challenges during construction were associated with third party
crossings which required permission from various authorities to cross their
assets. More than 150 such crossings were performed safely on this section of
the TFP to ensure the integrity of the assets. In addition, five major road
crossings were also executed under non destructive trenching techniques.?Should
it make December, the project would finish almost three years to the day from
when the tendering process began in late-2007.The first tender was awarded to
Salzgitter Mannesmann International of Germany, who was tasked with the
manufacture of the pipeline.The purchase order to Salzgitter was worth more
than $200 million and some 120,000 tons of X70 48 in coated line pipe were
formed at fellow German company Europipe?s steel mills in Dunkerque, France,
and M�lheim an der Ruhr, Germany (the inside and protective outside coatings
were supplied by Eupec France and by Mulheim pipe coatings).The first
deliveries were made in the summer of 2008, with final deliveries being
completion in the spring of 2009.?There is a strong world demand of quality
steel pipe ? Dolphin has had to compete with other major international projects
to secure the line pipe for the TFP Project,? commented Dolphin Energy?s
Ibrahim Ahmed Al Ansari.?We undertook a fast-track procurement process, and
were able to achieve a very competitive price and delivery schedule in difficult
market conditions.?With the pipe ordered, work began in early 2008 to progress
to the next stage and to take bids for the design and build of the project.
Nine contracting companies were invited to bid including: Al Jaber Energy, UAE,
Consolidated Contractors Company, Greece, CPECC, China , Dodsal, India,
Petrojet, Egypt, Snamprogetti, Italy, Stroytransgaz (STG), Russia, Techint,
Saudi Arabia and Technip of Germany.Eight international construction companies
initially bid for the work, and technical tenders were accepted from five,
which proceeded to the commercial bid stage. However with Russia holding onto
the world?s largest gas reserves and the biggest well of expertise, in terms of
overland pipelaying, it was unsurprising when it was announced in July 2008
that the contract had gone to Moscow-based STG.Ibrahim Ahmed Al Ansari,
described the design and build tendering process as exhaustive and was clearly
a happy man when he met with STG?s senior management in November 2008 following
delays on the project.By the time STG was on the project, Dolphin Energy had
received 189 km of the line pipe ? representing some 76% ? to the project?s
marshalling area (via Mina Zayed) with delivery of the remaining quantity
completed by in the following spring.Right of way works commenced in both the
desert and mountain sections at the beginning of 2009. ?This was followed by
stringing and welding in the desert section which commenced in February,?
explained Anwar Zuarub, DVP, UAE Projects, Dolphin Energy.Work began on pipe
laying during the fourth quarter of 2008, with the imported pipe shipped from
Germany and trucked to holding areas along the route.Trenching workThe next
step was the most physical with trenching work �and the lowering of pipes
into the ground for the desert section. Soon after trenching, stringing,
welding and lowering the pipes into the ground in the mountain section was also
started.By May 2010, the project had reached its second milestone: the point
where a hot tap connection could be made between the TFP?s 48 in pipeline and
the already existing Al Ain-Fujairah 24 in pipeline.Having begun to ?commission
gas? to ADWEC in August 2009, the pipeline began transporting 350 million
standard cubic feet of natural gas per day to ADWEC?s F1 and F2 power stations,
located in Fujairah.A look at the numbers involved in completing the
construction of the 128 km for stage two of 48 in pipeline gives an indication
of the effort being expelled to complete the project.?It has involved more than
10,700 weld joints, six block valve stations along the route and 256 kilometres
of fibre optic cable on either side of the pipeline,? said Anwar Zuarub, Deputy
VP, UAE Projects.Having the end in sight for much of this year has not seen a
slowing down or a coast to the finish line. There has still been 116 km to
traverse, the construction of three block valve stations, a receiving station
at Qidfa and additional equipment at the Taweelah installed.However ADWEC
�CEO Ahmed Ali Al Sayegh regarding the incoming benefits to his country
allows himself a moment to look forward: ?By meeting our commitment to the
customer to operate their plants, Dolphin Energy is helping to enhance
industrial development and economic growth in the east coast of our country.?
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.01 |
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|
1 |
Rs.75.42 |
|
Euro |
1 |
Rs.66.69 |
RATING EXPLANATIONS
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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.