MIRA INFORM
REPORT
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Report Date : |
03.08.2011 |
IDENTIFICATION DETAILS
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Name : |
EAGLEBURGMANN MIDDLE EAST FZE |
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Registered Office : |
Warehouse No. RA08 CC06, Jebel Ali Free Zone, Blue Shed Area, P.O.Box No 61310, Dubai |
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Country : |
United Arab Emirates |
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Date of Incorporation : |
24.02.1996 |
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Legal Form : |
Single Shareholder Limited Liability Company |
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Line of Business : |
Assemblers and distributors
of gaskets, mechanical seals, gas seals, pumps and compression packing to all
types of mechanical seals and supply systems |
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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Maximum Credit Limit : |
Dh 1,000,000 |
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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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United Arab Emirates |
a2 |
a2 |
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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 |
Bottom of Form
Company NAME
EagleBurgmann Middle
East FZE (Correct)
Eagle
Burgmann Middle East FZE (Requested)
company ADDRESS
Building : Warehouse No. RA08 CC06
Area : Jebel Ali Free Zone, Blue Shed Area
P.O.Box No .: 61310
Town : Dubai
Country : United Arab Emirates
Telephone : (971 4) 883 8841
Fax : (971 4) 883 8843
E-Mail : pramod.madhavan@ae.eagleburgmann.com /
Trading Style : EagleBurgmann
Also known as : Eagle Burgmann Middle East FZE
SENIOR COMPANY PERSONNEL
Name Position
1. Hasan Babacan Managing Director
2. Favio George Regional Financial Manager
3. Madanan Kumaran Financial Manager
4. Rakesh Bhatiya Sales Manager
5. Jasdev Singh Sales Engineering
6. Pramod Madhavan Senior Accountant
Total Employees : 50
PAYMENTS
No complaints have been heard regarding payments from local suppliers or banks.
Subject is a subsidiary of Eagle-Burgmann Germany GmbH & Co. KG, Germany, it is one of the world’s leading sealing technology providers. Membership of Germany’s Freudenberg Group and Japan’s EKK Group gives it solid economic resources. The two sealing specialists Eagle-Burgmann Germany GmbH & Co. KG (formerly Burgmann Industries GmbH & Co. KG), and Freudenberg's Japanese partner Eagle Industry Co., Ltd. joined up in 2004 to form the EagleBurgmann Group, a very successful cooperation in industrial sealing technology for a wide range of sectors. EagleBurgmann products offer maximum safety and reliability and are used in almost every sector of industry such as the oil and gas industry, power stations, refineries, the chemical industry, shipping and marine technology, aviation, offshore plant, paper and sugar production and many more. The group employs over 5,500 employees, operates more than 60 subsidiaries and 250 production and service facilities worldwide. Sales turnover for the year 2010 was up to 20.6% to Euros 678.7 million compared to 562.8 million Euros in the previous year.
Associations inspire confidence and we consider it is acceptable to deal with subject for MEDIUM amounts.
Opinion on maximum credit : Dh 1,000,000 (higher amounts may be
considered with assurances from the
parent company)
Trade risk assessment: Normal
PRINCIPAL BANKERS
NAME : EMIRATES NBD (fmly EMIRATES BANK INTERNATIONAL)
Branch : Main Branch
Street : Baniyas Road
PO Box : 2923
Town : Dubai
Telephone : (971 4) 225 6900
Fax : (971 4) 226 7718
The company also has an account with :
Deutsche Bank
The Gate Village, Level 5 and 6, Office No. 5,
Dubai International Financial Center
PO Box 504902
Dubai
Telephone: (971 4) 361 1700
FINANCIAL INFORMATION
Private companies in United Arab Emirates are not required to publish or disclose balance sheets. Balance sheets are not available from other sources, and the subject interviewed declined to give any financial information, which the company regards as strictly confidential.
LEGAL STATUS AND HISTORY
Date Started : 24 February 1996
Trade License No.: 122 (expiry date: 24 February 2012)
Capital : not given
Free Zone Establishment (single shareholder limited liability company) with the following sole shareholders :
EagleBurgmann Germany GmbH & Co. KG 100%
Äußere Sauerlacher Str. 6 - 10
82515 Wolfratshausen
Germany
Telephone: (49 8171) 23-1453 / 23-0.
Fax : (49 8171) 23-1214 / 23-1095
Email : info@de.eagleburgmann.com
* According to law No.9 governing the establishment of companies in
the Jebel Ali Free Zone, which was introduced in early 1992 and came
into force in October 1992, foreign companies are allowed to set up
separate legal entities referred to as Free Zone Establishments
(FZEs) and Free Zone Companies (FZCO) having all features of a
Private Limited Liability Company. The FZE can be either owned by a
foreign individual or a corporate body. Its liability is determined
by the amount of paid-up capital, which must be at least Dh 1
million. Previously, FZEs had to be branches of a company registered
in a foreign country. A FZCO legal form allows investors to establish
a company in Jebel Ali Free Zone having more than one shareholders
(FZE only permits one shareholder). Its minimal registered capital is
Dh 500,000.
Affiliated companies of EagleBurgmann Germany GmbH & Co. KG, subject’s parents company:
Associates / Subsidiaries
1. EagleBurgmann Argentina
Buenos Aires
Argentina
2. EagleBurgmann Australia Pty. Ltd.
Ingleburn
Australia
3. EagleBurgmann Austria GmbH
Salzburg
Austria
4. EagleBurgmann Belgium B.V.B.A.
Sint-Job-in’t-Goor
Belgium
5. EagleBurgmann do Brazil Vedaçoes Industriais Ltda.
Campinas
Brazil
6. Nova Magnetics-Burgmann Ltd.
Dartmouth
Canada
7. EagleBurgmann China Co., Ltd.
Shanghai
China
8. EagleBurgmann Czech s.r.o.
Prague
Czech Republic
9. KE-Burgmann A/S
Vejen
Denmark
10.KE-Burgmann Finland OY
Vantaa
Finland
11.EagleBurgmann France SAS
Sartrouville
France
12.Burgmann Industries GmbH & Co. KG
Wolfratshausen
Germany
13.EagleBurgmann Hungaria Kft.
Budapest
Hungary
14.ESSIL Eagle Seals and Systems India Ltd.
Pune
India
15.PT EagleBurgmann Indonesia
Bekasi
Indonesia
16.Burgmann Pars Sealing Systems Co.
Tehran
Iran
17.EagleBurgmann Italia s.r.l.
Osnago
Italy
18.EagleBurgmann Japan Co., Ltd.
Tokyo
Japan
19.EagleBurgmann Korea Co., Ltd.
Kyungki-Do
Korea
20.EagleBurgmann (Malaysia) Sdn. Bhd.
Petaling Jaya
Malaysia
21.EagleBurgmann Mexico S.A. de C.V.
Cuautitlán
Mexico
22.EagleBurgmann New Zealand Ltd.
Auckland
New Zealand
23.EagleBurgmann Norway AS
Skedsmokorset
Norway
24.Burgmann (Philippines) Inc.
Carmona
Philippines
25.KE-Burgmann Polska Spólka z.o.o.
Warsaw
Poland
26.EagleBurgmann RO SRL.
Bucharest
Romania
27.EagleBurgmann OOO
Zavolzhye
Russia
28.Burgmann Saudi Arabia Limited
Dammam
Saudi Arabia
29.EagleBurgmann Singapore Pte. Ltd.
Singapore
30.EagleBurgmann Seals South Africa (Pty.) Ltd.
Johannesburg
South Africa
31.EagleBurgmann Ibérica S.A.
Villaviciosa de Odón
Spain
32.EagleBurgmann Sweden AB
Norrköping
Sweden
33.EagleBurgmann (Switzerland) AG
Höri
Switzerland
34.EagleBurgmann Taiwan Co., Ltd.
Taipei
Taiwan
35.EagleBurgmann (Thailand) Co., Ltd.
Samutprakarn
Thailand
36.EagleBurgmann Netherlands B.V.
Veenendaal
The Netherlands
37.EagleBurgmann Endüstriyel Sızdırmazlık San. Ve Tic. Ltd. Ş ti.
Tepeören-Tuzla/Istanbul
Turkey
38.EagleBurgmann Middle East FZE
Dubai
United Arabian Emirates
39.EagleBurgmann Industries UK LP
Warwick
United Kingdom
40.EagleBurgmann Industries LP
Houston
USA
41.Burgmann de Venezuela C.A.
Caracas
Venezuela
ACTIVITIES
The Company is involved in the following activities :
Assemblers and distributors of gaskets, mechanical seals, gas seals, pumps and compression packing to all types of mechanical seals and supply systems right through to magnetic couplings, expansion joints and a diversity of other related services.
NACE Code: 2813
Imports from Germany and Japan.
Exports to the Middle Eastern and GCC countries.
FACILITIES
The Company has the following facilities :
Leased premises comprising administrative offices, a service station and an assembling unit with warehousing facilities located at the heading address.
SPECIAL NOTE
You enquired on: Eagle Burgmann Middle East FZE. Please note that subject's correct registered name is as per heading.
Interviewed: Pramod Madhavan (Senior Accountant)
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.23 |
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UK Pound |
1 |
Rs.72.09 |
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Euro |
1 |
Rs.62.99 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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.