MIRA INFORM REPORT

Report Date :

28.02.2012

IDENTIFICATION DETAILS

Name :	KLINGSPOR SCHLEIFSYSTEME GMBH & CO. KG
Registered Office :	Hüttenstr. 36 D 35708 Haiger
Country :	Germany
Date of Incorporation :	15.07.2004
Com. Reg. No.:	HRA 6540
Legal Form :	Ltd partnership with priv. ltd. company as general partner
Line of Business :	Manufacture of abrasive products
No. of Employees :	500

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 :	Satisfactory
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 30, 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 and address

Klingspor Schleifsysteme GmbH & Co. KG

Company Status: active

Hüttenstr. 36

D 35708 Haiger

Telephone:02773/9220

Telefax: 02773/922280

Homepage: www.klingspor.de

E-mail: sales@klingspor.de

Registration data

LEGAL FORM Ltd partnership with priv. ltd. company as

general partner

Date of foundation: 2004

Registered on: 15.07.2004

Register of

companies: Local court 35578 Wetzlar

under: HRA 6540

Total cap. contribution

EUR 10,000,000.00

Limited partner

Klingspor AG

Hüttenstr. 36

D 35708 Haiger

Legal form: Public limited company

Share capital: EUR 15,000,000.00

Share: EUR 10,000,000.00

Registered on: 22.12.2004

Reg. data: 35578 Wetzlar, HRB 5037

General partner:

Klingspor Geschäftsführungs GmbH

Hüttenstr. 36

D 35708 Haiger

Legal form: Private limited company

Share capital: EUR 25,000.00

Registered on: 17.06.2004

Reg. data: 35578 Wetzlar, HRB 4965

Shareholder:

Klingspor AG

Hüttenstr. 36

D 35708 Haiger

Legal form: Public limited company

Share capital: EUR 15,000,000.00

Share: EUR 25,000.00

Registered on: 22.12.2004

Reg. data: 35578 Wetzlar, HRB 5037

Manager:

Dr. Hans-Jörg Seifert

D 20095 Hamburg

authorized to jointly represent the company

born: 18.11.1958

Profession: graduate engineer

Manager:

Jan Gaj

PL Bielsko-Biala

authorized to jointly represent the company

born: 28.08.1956

Nationality: Polish

Proxy:

Axel Bertermann

D 57072 Siegen

authorized to jointly represent the company

born: 18.01.1958

Proxy:

Manfred Henzel

D 35239 Steffenberg

authorized to jointly represent the company

born: 22.11.1951

BUSINESS ACTIVITIES

Sectors

23910 Manufacture of abrasive products

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 Hüttenstr. 36

D 35708 Haiger

Land register documents were not available.

BANKERS

Principal bank

COMMERZBANK VORMALS DRESDNER BANK, GIEßEN, LAHN

Sort. code: 51380040, Account no.: 883088500, BIC: DRESDEFF513

Further banks

DEUTSCHE BANK, DILLENBURG

Sort. code: 46070090, Account no.: 4111217, BIC: DEUTDEDK460

COMMERZBANK, SIEGEN

Sort. code: 46040033, Account no.: 8190977, BIC: COBADEFF460

SPARKASSE DILLENBURG, HAIGER

Sort. code: 51650045, Account no.: 82826, BIC: HELADEF1DIL

FINANCIAL FIGURES

Financial year: 01.01. - 31.12.

Turnover: 2011 EUR 108,000,000.00

Employees: 500

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.49.05
UK Pound	1	Rs.77.78
Euro	1	Rs.65.89

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.