MIRA INFORM REPORT

Report Date :

05.04.2012

IDENTIFICATION DETAILS

Name :	WIKUS-SÄGENFABRIK WILHELM H. KULLMANN GMBH & CO. KG

Registered Office :	Melsunger Str. 30, D 34286 Spangenberg

Country :	Germany

Date of Incorporation :	01.10.1958

Com. Reg. No.:	HRA 14001

Legal Form :	Ltd partnership with priv. ltd. company as general partner

Line of Business :	Manufacture of tools

No. of Employees :	550

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 :	250,000 EUR

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 – September 30^th, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Germany

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

Company name

WIKUS-Sägenfabrik Wilhelm H. Kullmann GmbH & Co. KG

Company address

Melsunger Str. 30

D 34286 Spangenberg

Telephone: 05663/500-0

Telefax: 05663/500-57

Homepage: www.wikus.de

E-mail: info@wikus.de

CONCLUSION

Business relations are permissible.

Synthesis

LEGAL FORM Ltd partnership with priv. ltd. company as

general partner

Date of foundation: 01.10.1958

Begin of business

activities: 01.10.1958

Registered on: 16.06.1959

companies: Local court 34560 Fritzlar

under: HRA 14001

Total cap. contribution: EUR 12,577,780.28

Limited partner

Dr. Jörg Kullmann

Zum Steinbach 2

D 34286 Spangenberg

born: 02.05.1959

Share: EUR 12,577,780.28

General partner

Wilhelm H. Kullmann

Am Bromsberg 9

D 34286 Spangenberg

born: 05.11.1928

Profession: Businessman

General partner:

WIKUS-Sägenfabrik Verwaltung GmbH

Melsunger Str. 30

D 34286 Spangenberg

Legal form: Private limited company

Share capital: EUR 51,129.19

Registered on: 15.01.1999

Reg. data: 34560 Fritzlar, HRB 11225

Shareholder

WIKUS-Sägenfabrik Wilhelm H. Kullmann GmbH &

Co. KG

Melsunger Str. 30

D 34286 Spangenberg

Legal form: Ltd partnership with priv. ltd.

company as general partner

Total cap. EUR 12,577,780.28

contribution:

Share: EUR 51,129.19

Registered on: 16.06.1959

Reg. data: 34560 Fritzlar, HRA 14001

Manager

Dr. Jörg Kullmann

Zum Steinbach 2

D 34286 Spangenberg

having sole power of representation

born: 02.05.1959

Profession: graduate engineer

Marital status: married

Proxy

Günter Rudolph

Schrebergärten 21

D 34286 Spangenberg

having sole power of representation

born: 31.01.1945

Profession: Businessman

Proxy:

Michael Möller

Himmelsbergstr. 3

D 34212 Melsungen

having sole power of representation

born: 08.03.1964

Marital status: unknown

Proxy:

Uwe Liedebrand

D 37269 Eschwege

having sole power of representation

born: 10.09.1961

COMPANY HISTORY

01.01.1958 - 01.03.1999 WIKUS-Sägenfabrik Wilhelm H. Kullmann

Melsunger Str. 30

D 34286 Spangenberg

Limited partnership

BUSINESS ACTIVITIES

Main industrial sector

· 2573 Manufacture of tools

· 47523 Retail sale of paints and building materials

PARTICIPATIONS

Shareholder:

WIKUS-Sägenfabrik Verwaltung GmbH

Melsunger Str. 30

D 34286 Spangenberg

Legal form: Private limited company

Company Status: active

Share capital: EUR 51,129.19

Share: EUR 51,129.19

Reg. data: 15.01.1999

Local court 34560 Fritzlar

HRB 11225

FINANCIAL INFORMATION

Payment experience: cash discount/within agreed terms

Negative information: We have no negative information at hand.

Maximum credit: 250,000 EUR

REAL ESTATE

Type of ownership: Tenant

Address Melsunger Str. 30

D 34286 Spangenberg

Real Estate of: WIKUS-Sägenfabrik Verwaltung GmbH

Type of ownership: Tenant

Address Melsunger Str. 30

D 34286 Spangenberg

Land register documents were not available.

BANKERS

Principal bank

COMMERZBANK VORMALS DRESDNER BANK, KASSEL, HESS

Sort. code: 52080080, BIC: DRESDEFF520

Further banks

KREISSPARKASSE SCHWALM-EDER, SPANGENBERG, HESS

Sort. code: 52052154, BIC: HELADEF1MEG

POSTBANK, FRANKFURT AM MAIN

Sort. code: 50010060, BIC: PBNKDEFFXXX

VR-BANK SPANGENBERG-MORSCHEN, SPANGENBERG, HESS

Sort. code: 52063369, BIC: GENODEF1SPB

FINANCIAL FIGURES

Financial year: 01.01. - 31.12.

Turnover: 2010 EUR 103,000,000.00

2011 EUR 103,525,000.00

further business figures:

Equipment: EUR 11,600,000.00

Ac/ts receivable: EUR 8,800,000.00

Liabillities: EUR 4,300,000.00

Total numbers of vehicles: 24

- Lorries: 4

- Passenger cars: 20

Employees: 550

- thereof permanent staff: 425

- Part-time employees: 10

- Trainees: 15

The aforementioned business figures may partly be estimated information based on average values in the line of business.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.51.05
UK Pound	1	Rs.81.09
Euro	1	Rs.67.39

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%)

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 name

Company address

CONCLUSION

Synthesis

Limited partner

General partner

Shareholder

Manager

Proxy

COMPANY HISTORY

BUSINESS ACTIVITIES

PARTICIPATIONS

FINANCIAL INFORMATION

REAL ESTATE

BANKERS

FINANCIAL FIGURES

Unit