MIRA INFORM REPORT

Report Date :

24.08.2012

IDENTIFICATION DETAILS

Name :	KME GERMANY AG & CO KG
Formerly Known As :	KM Europa Metal AG
Registered Office :	Klosterstrasse 29, Osnabruck, 49074
Country :	Germany
Financials (as on) :	31.12.2010
Year of Establishment :	2007
Com. Reg. No.:	18434
Legal Form :	Private Subsidiary Company
Line of Business :	Processing of copper and copper alloys and the manufacture of a wide range of semi-finished and finished products
No. of Employees :	2,840

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Slow but Correct
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 31^st, 2012

Country Name	Previous Rating (31.12.2011)	Current Rating (31.03.2012)
Germany	A1	A1

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

Company name & address

KME Germany AG & Co KG

Klosterstrasse 29

OsnabrUck, 49074

Germany

Tel: 49-5413210

Fax: 49 (541) 3 21 13 66

Web: www.kme.com

Synthesis

Employees: 2,840

Company Type: Private Subsidiary

Corporate Family: 32 Companies

Ultimate Parent: Kme Group SpA

Incorporation Date: 2007

Auditor: Deloitte & Touche GmbH

Financials in: USD (Millions)

Fiscal Year End: 31-Dec-2010

Reporting Currency: Euro

Annual Sales: NA

Total Assets: 676.0

Business Description

Processing of copper and copper alloys and the manufacture of a wide range of semi-finished and finished products

Industry

Industry Metal Mining

ANZSIC 2006: 2139 - Other Basic Non-Ferrous Metal Manufacturing

NACE 2002: 2745 - Other non-ferrous metal production

NAICS 2002: 331419 - Primary Smelting and Refining of Nonferrous Metal (except Copper and Aluminum)

UK SIC 2003: 2745 - Other non-ferrous metal production

US SIC 1987: 3339 - Primary Smelting and Refining of Nonferrous Metals, Except Copper and Aluminum

Key Executives

Name	Title
Heinz Klenen	Executive Director-Sales & Marketing-Industry Applications
Pier Luigi de Angelis	Vorstandsmitglied Finanzen
Christoph Geyer	Sales & Marketing Building Applications
Domenico Cova	Manager
JUrgen Kriesche	EDV-Leiter

Registered No.(DEU): 18434

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7454064

Corporate Overview

Location

Klosterstrasse 29

OsnabrUck, 49074

Germany

Tel: 49-5413210

Fax: 49 (541) 3 21 13 66

Web: www.kme.com

Sales EUR(mil): NA

Assets EUR(mil): 503.9

Employees: 2,840

Fiscal Year End: 31-Dec-2010

Industry: Metal Mining

Incorporation Date: 2007

Company Type: Private Subsidiary

Quoted Status: Not Quoted

Previous Name: KM Europa Metal AG

Registered No.(DEU): 18434

Executive Director-

Sales & Marketing-Industry Applications : Heinz Klenen

Contents

Industry Codes

Business Description

Brand/Trade Names

Financial Data

Subsidiaries

Key Corporate Relationships

Industry Codes

ANZSIC 2006 Codes:

2149 - Other Basic Non-Ferrous Metal Product Manufacturing

2139 - Other Basic Non-Ferrous Metal Manufacturing

NACE 2002 Codes:

2745 - Other non-ferrous metal production

NAICS 2002 Codes:

331422 - Copper Wire (except Mechanical) Drawing

331419 - Primary Smelting and Refining of Nonferrous Metal (except Copper and Aluminum)

US SIC 1987:

3357 - Drawing and Insulating of Nonferrous Wire

3339 - Primary Smelting and Refining of Nonferrous Metals, Except Copper and Aluminum

UK SIC 2003:

2745 - Other non-ferrous metal production

Business Description

Processing of copper and copper alloys and the manufacture of a wide range of semi-finished and finished products

More Business Descriptions

Copper & Copper Alloy Mfr.

KME AG is primarily engaged in activities of managing holding companies primarily engaged in holding the securities of (or other equity interests in) companies and enterprises for the purpose of owning a controlling interest or influencing management decisions. This class also includes: activities of head offices, centralised administrative offices and the like that administer, oversee and manage other units of the company or enterprise and that normally undertake the strategic or organisational planning and decision-making role of the company or enterprise.

Piping/Tubing

Brand/Trade Names
WICU(R) TECU(R) OSNALINE(R)	CIPS(R) CUPROCLIMA(R) CROSSFIN(R)

Financial Data

Financials in:	EUR(mil)
Assets:	503.9
Current Assets:	107.7
Total Liabilities:	503.9
Issued Capital:	142.7
Net Worth:	401.8
Date of Financial Data:	31-Dec-2010

1 Year Growth

NA

Subsidiaries

Company	Percentage Owned	Country
KME Verwaltungs- und Dienstleistungsgesellschaft mbH		Germany
KME Beteiligungsgesellschaft mit beschränkter Haftung		Germany
Fricke GmbH & Co.KG		Germany
KME metal GmbH		Germany
KME Architectural Metals GmbH		Germany
kabelmetal Messing Beteiligungsgesellschaft mit beschränkter Haftung		Germany
KME Brass Germany GmbH		Germany
KME Yorkshire Ltd.		Zimbabwe
KME Italy SpA	100%	ITALY
KME France SAS	100%	FRANCE

Key Corporate Relationships

Auditor:	Deloitte & Touche GmbH
Bank:	Commerzbank AG, Deutsche Bank AG, LZB, DG-Bank AG, Nord LB
Auditor:	Deloitte & Touche GmbH

Corporate Family	Corporate Structure News:
	Kme Group SpA KME Germany AG & Co KG
KME Germany AG & Co KG Total Corporate Family Members: 32

Company Name	Company Type	Location	Country	Industry	Sales (USD mil)	Employees
Kme Group SpA	Parent	Firenze, Firenze	Italy	Business Services	3.8	5
KME Germany AG & Co KG	Subsidiary	OsnabrUck, Niedersachsen	Germany	Metal Mining		2,840
KME Italy SpA	Subsidiary	Firenze, FI	Italy	Miscellaneous Fabricated Products	859.5	1,212
Kme Brass Italy SRL	Subsidiary	Firenze, Firenze	Italy	Metal Mining	251.9	173
Em Moulds SRL	Subsidiary	Firenze, Firenze	Italy	Miscellaneous Capital Goods	36.4	150
KME France SAS	Subsidiary	Courbevoie	France	Miscellaneous Fabricated Products	659.4	630
Kme Brass France	Subsidiary	Courbevoie	France	Metal Mining	306.2	363
Tréfimétaux (Usine)	Subsidiary	Fromelennes	France	Miscellaneous Fabricated Products	75.0
KME Brass Germany GmbH	Subsidiary	Berlin, Berlin	Germany	Metal Mining	342.4	321
KME Germany AG	Subsidiary	Stolberg	Germany	Miscellaneous Fabricated Products	125.8	300
kabelmetal Messing Beteiligungsgesellschaft mit beschränkter Haftung	Subsidiary	Berlin, Berlin	Germany	Construction - Supplies and Fixtures		285
KME Architectural Metals GmbH & Co. KG	Subsidiary	Greven, Nordrhein-Westfalen	Germany	Construction - Supplies and Fixtures	43.4	45
KME Europa Metal AG	Subsidiary	Osnabruck	Germany	Miscellaneous Fabricated Products	824.0	25
KME Beteiligungsgesellschaft mit beschränkter Haftung	Subsidiary	OsnabrUck, Niedersachsen	Germany	Consumer Financial Services		16
KME Germany AG & Co. KG	Subsidiary	OsnabrUck, Niedersachsen	Germany	Iron and Steel	1,321.2	2,840
Kme Benelux	Subsidiary	Diegem	Belgium	Miscellaneous Capital Goods	1.2	4
Stolberger Metallwerke	Subsidiary	Stolberg	Germany	Miscellaneous Fabricated Products	125.0
KME Verwaltungs- und Dienstleistungsgesellschaft mbH	Subsidiary	OsnabrUck, Niedersachsen	Germany	Business Services
Cobra Automotive Technologies SpA	Subsidiary	Varese	Italy	Electronic Instruments and Controls	222.2	975
Drive Service SpA	Subsidiary	Busto Arsizio, Varese	Italy	Rental and Leasing	45.1	144
Cobra UK Ltd.	Subsidiary	Sale	United Kingdom	Business Services	28.2	72
Navtrak Ltd.	Subsidiary	Sale	United Kingdom	Business Services
Cobra Telematics Development SA	Subsidiary	Sophia-Antipolis	France	Software and Programming	4.7	34
Cobra Automotive Technologies UK Ltd.	Subsidiary	Sunbury-on-Thames	United Kingdom	Auto and Truck Parts		26
Cobra Deutschland GmbH	Subsidiary	Kandel, Rheinland-Pfalz	Germany	Electronic Instruments and Controls		6
Cobra do Brasil Servicos de Telematica Ltda.	Subsidiary	Campinas, Sao Paulo	Brazil	Business Services		3
Cobra Japan K.K.	Subsidiary	Yokohama, Kanagawa	Japan	Electronic Instruments and Controls
Cobra Italia S.p.A.	Subsidiary	Busto Arsizio, Varese	Italy	Auto and Truck Parts	29.9	158
Culti SRL	Subsidiary	Milano, Milano	Italy	Retail (Specialty)	7.1	31
Metalbuyer SRL	Subsidiary	Acerra, Napoli	Italy	Waste Management Services	78.9	13
Ergycapital SpA	Subsidiary	Roma, Roma	Italy	Commercial Banks	0.6	9
E.Geo SpA	Subsidiary	Milano, Milano	Italy	Miscellaneous Capital Goods	6.5	6

Executive report

Board of Directors

Name	Title	Function
Diethart Breipohl	Vorsitzender des Aufsichtsrates	Chairman
Albert Scherger	Vorstandsvorsitzender	Chairman
Johann von Graevenitz	Chairman of the board of directors	Chairman
Achim Degner	Member of the board of directors	Director/Board Member
Reiner Fritsch	Member of the board of directors	Director/Board Member
Marcello Gallo	Member of the board of directors	Director/Board Member
Riccardo Garrè	Member of the board	Director/Board Member
Hans Lenger	Member of the board of directors	Director/Board Member
Hartmut Meine	Member of the board of directors	Director/Board Member
Diva Moriani	Member of the board	Director/Board Member
Salvatore Orlando	Member of the board of directors	Director/Board Member
Roelf-Evert Reins	Member of the board	Director/Board Member
Peter Spiekermann	Member of the board of directors	Director/Board Member
Reinhard Wessel	Member of the board of directors	Director/Board Member

Executives

Name	Title	Function
Norbert Brodersen	Sprecher des Vorstandes	Chief Executive Officer
Heinz Klenen	Executive Director-Sales & Marketing-Industry Applications	Chief Executive Officer
Albert Scherger	Vorstandsvorsitzender	Chief Executive Officer
Francesco De Nola	Operations Extruding & Drawing	Division Head Executive
JUrgen Gebhardt	Operations Rolling Mills	Division Head Executive
Christoph Geyer	Sales & Marketing Building Applications	Division Head Executive
Italo Romano	General Manager	Division Head Executive
Pier Bruno Ceccacci	Vorstandsmitglied, Rolled Products	Operations Executive
Domenico Cova	Manager	Administration Executive
Education: Bocconi University, MBA
Pier Luigi de Angelis	Vorstandsmitglied Finanzen	Administration Executive
Marco Miniati	Corporate Planning, Administration & Control	Administration Executive
Walter SchUtte	Leiter Finanzwesen	Finance Executive
Sergio Ceccuzzi	Vorstandsmitglied	Controller
Hans-Joachim Scheja	Leiter Personalwesen	Human Resources Executive
JUrgen Kriesche	EDV-Leiter	Information Executive
Jean-Marie Welter	Leiter Forschung & Entwicklung	Research & Development Executive
Marco Calamia	Leiter Plannung	Planning Executive
Luciano Parolai	Purchasing & Logistics	Logistics Executive
Manfredi Fiuzzi	Allgemeiner Einkauf	Purchasing Executive
Thomas Goeda	Leiter NE-Einkauf	Purchasing Executive
Andre LUcke	Executive	Other
Vincenzo Manes	Executive	Other

Annual Profit & Loss

	31-Dec-2010	31-Dec-2009	31-Dec-2008
Period Length	12 Months	12 Months	12 Months
Filed Currency	EUR	EUR	EUR
Exchange Rate (Period Average)	0.755078	0.719047	0.683679
Consolidated	No	No	No
Other operating income	-	2.3	3.7
Taxes and social security costs	-	0.6	0.4
Total payroll costs	-	2.1	3.2
Other operating costs	-	113.5	60.2
Net operating income	-	-56.6	-29.6
Interest received from loans	-	11.5	11.6
Other income	-	2.7	6.7
Interest payable on loans	-	3.2	5.0
Other expenses	-	0.4	1.2
Total expenses	-	-15.7	-28.8
Profit before tax	-	-40.8	-0.8
Provisions	92.8	94.4	93.8
Total taxation	-	3.3	5.9
Net loss	-	-44.1	-6.7

Annual Balance Sheet

Financials in: USD (mil)

	31-Dec-2010	31-Dec-2009	31-Dec-2008
Filed Currency	EUR	EUR	EUR
Exchange Rate	0.745406	0.696986	0.719399
Consolidated	No	No	No
Issued capital	191.5	204.8	198.4
Capital reserves	212.1	226.8	219.8
Legal reserves	2.3	2.5	2.4
Other reserves	0.2	0.2	0.2
Total reserves	2.5	2.7	2.6
Profits for the year	133.0	62.6	104.8
Total stockholders equity	539.1	496.9	525.5
Deferred taxation	1.3	3.3	-
Other provisions	88.1	90.4	86.1
Provision for pensions	4.6	3.7	3.1
Provisions and allowances	94.0	97.4	89.2
Taxation and social security	0.9	0.8	0.9
Due to group companies	42.0	92.8	43.5
Total current liabilities	42.9	93.6	44.4
Total liabilities (including net worth)	676.0	688.0	659.1
Shares held in associated companies	520.0	560.9	538.1
Participating interest	11.5	12.3	12.0
Total financial assets	531.5	573.3	550.0
Total non-current assets	531.5	573.3	550.0
Other receivables	26.3	25.7	4.7
Total receivables	144.5	114.5	109.1
Owing from associated companies	118.2	88.8	104.3
Total current assets	144.5	114.5	109.1
Prepaid expenses and deferred costs	-	0.2	-
Total assets	676.0	688.0	659.1

Annual Ratios

Financials in: USD (mil)

	31-Dec-2010	31-Dec-2009	31-Dec-2008
Period Length	12 Months	12 Months	12 Months
Filed Currency	EUR	EUR	EUR
Exchange Rate	0.745406	0.696986	0.719399
Consolidated	No	No	No
Current ratio	33.65	12.23	24.57
Acid test ratio	33.65	12.23	24.57
Total liabilities to net worth	0.01%	0.02%	0.01%
Net worth to total assets	0.08%	0.07%	0.08%
Current liabilities to net worth	0.01%	0.02%	0.01%
Fixed assets to net worth	0.10%	0.12%	0.10%
Return on assets	-	-0.01%	0.00%
Shareholders' return	-	-0.01%	0.00%
Net worth	539.1	496.9	525.5

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.55.19
UK Pound	1	Rs.87.65
Euro	1	Rs.69.16

INFORMATION DETAILS

Report Prepared by :

MNL

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.