MIRA INFORM REPORT

 

 

Report Date :           

03.02.2012

 

IDENTIFICATION DETAILS

 

Name :

CORTECO GMBH

 

 

Registered Office :

Badener Str. 4, D 69493 Hirschberg

 

 

Country :

Germany

 

 

Date of Incorporation :

11.12.1998

 

 

Com. Reg. No.:

HRB 432465

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Wholesale trade in motor vehicle parts and accessories

 

 

No. of Employees :

45

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

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 :

Good

 

 

Payment Behaviour :

Regular

 

 

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

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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 

 

Corteco GmbH

 

Badener Str. 4

D 69493 Hirschberg

Telephone:        06201/259640

Telefax:             06201/2596411

Homepage:        www.corteco.com

E-mail:              corteco.service@freudenberg.de

 

 

VAT no.      

 

DE812054877

 

 

CONCLUSION

 

Business relations are permissible.

 

 

Synthesis

 

LEGAL FORM               Private limited company

Date of foundation:         1933

Shareholders'

agreement:                    04.12.1998

Registered on:               11.12.1998

Commercial Register:     Local court 68159 Mannheim

under:                           HRB 432465

Share capital:                 EUR             25,564.59

 

 

Shareholder

 

Freudenberg Sealing Technologies GmbH & Co.

KG

Höhnerweg 2-4

D 69469 Weinheim

Legal form: Ltd partnership with priv. ltd.

company as general partner

Total cap.         EUR          9,010,000.00

contribution:

Share:             EUR             25,564.59

Registered on: 16.05.1995

Reg. data: 68159 Mannheim, HRA 430900

Profit transfer agreement

 

 

Manager

 

Reiner Martsfeld

D 67059 Ludwigshafen

born: 30.08.1958

Profession: Fully qualified economic

engineer

 

Manager:

Thomas Mettke

D 76689 Karlsdorf-Neuthard

born: 22.05.1963

 

 

Proxy

 

Oliver Klein

D 67056 Ludwigshafen

authorized to jointly represent the company

born: 20.09.1966

 

 

COMPANY HISTORY

 

 04.12.1998 - 16.03.1999  Corteco Handels-GmbH

                          Höhnerweg 2-4

                          D 69469 Weinheim

                          Private limited company

 16.03.1999 - 2001        Corteco GmbH

                                    Höhnerweg 2-4

                                                D 69469 Weinheim

                                    Private limited company

 2002 - 2011                  Corteco GmbH

                                    Badener Str. 10

                                    D 69493 Hirschberg

                                                 Private limited company

 

 

RESIGNED ACTING PERSONS AND SHAREHOLDERS

 

03.05.2007 - 29.03.2010  Manager

                          Thomas Schäfer

                          D 74538 Rosengarten

 

 

BUSINESS ACTIVITIES

 

Main industrial sector

45310   Wholesale trade in motor vehicle parts and accessories

 

 

FINANCIAL INFORMATION

 

Payment experience:     in top condition

 

Negative information:      We have no negative information at hand.

 

Maximum credit:            250,000 EUR

 

 

REAL ESTATE

 

Type of ownership:         Tenant

Address                        Badener Str. 4

                                    D 69493 Hirschberg

 

 Land register documents were not available.

 

 

BANKERS

 

DEUTSCHE BANK, WEINHEIM, BERGSTR

Sort. code: 67070010, BIC: DEUTDESMXXX

 

COMMERZBANK, WEINHEIM, BERGSTR

Sort. code: 67040031, BIC: COBADEFF670

 

COMMERZBANK VORMALS DRESDNER BANK, WEINHEIM, BERGSTR

Sort. code: 67080050, BIC: DRESDEFF670

 

 

FINANCIAL FIGURES

 

 Financial year:      01.01. - 31.12.

 Turnover:            2010               EUR         24,440,000.00

                      2011               EUR         25,000,000.00

 further business figures:

 Share capital:                          EUR             25,564.59

 Employees:                                                     45

 

Profit transfer agreement to:

Freudenberg Sealing Technologies GmbH & Co.

KG

Höhnerweg 2-4

D 69469 Weinheim

 

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.49.13

UK Pound

1

Rs.77.85

Euro

1

Rs.64.78

 

 

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.