MIRA INFORM REPORT

 

 

Report Date :

28.03.2012

 

IDENTIFICATION DETAILS

 

Name :

WEIR MINERALS NETHERLANDS B.V.

 

 

Registered Office :

Egtenrayseweg 9 5928PH Venlo

 

 

Country :

Netherlands

 

 

Date of Incorporation :

30.09.1994

 

 

Legal Form :

Besloten Vennootschap

 

 

Line of Business :

Manufacture of Machinery and Equipment

 

 

No. of Employees :

417

 

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 :

€ 500.000

Status :

Good

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, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Netherlands

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

CONTACTINFORMATION

 

Company name                         Weir Minerals Netherlands B.V.

 

Tradename                                Geho Pumps

Begemann Pumps

Roto-Jet

Weir Netherlands

Weir Minerals Netherlands B.V.

 

Address                                    Egtenrayseweg 9

5928PH Venlo

Netherlands

 

Mail address                              Postbus 249

5900AE Venlo

Netherlands

 

Telephone number                      0773895200

Telefax number              0773824844

E-mail address                          weir@weirminerals.com

Website                                    www.weirminerals.com

VAT number / RSIN                    802996413

 

 

CREDIT limit

Credit limit                                       A credit of € 500.000 may be granted

 

 

Groep

consolidated BC and Pl of WEIR GROUP PLC (THE)

 

Clydesdale Bank Exchange 20, Waterloo Street

 

G2 6DB GLASGOW

 

United Kingdom

 

Phone number +44 141 637 7111

 

FAX number +44 141 221 9789

 

Website address www.weir.co.uk

 

INTERNET E-MAIL address investor-relations@weir.co.uk

 

 

COMPANY INFORMATION  

 

Handelsregisternummer

12032525

Registered in

Chamber of commerce Limburg

First registration

30-09-1994

Act of foundation

28-09-1994

Date of constitution

31-12-1966

Continuation date

30-09-1994

Last change in statutes

30-06-2006

Legal form

Besloten Vennootschap

Place of constitution

Venlo

Capital

EUR 250.000

Issued capital

EUR 50.000

Paid up capital

EUR 50.000

Legal form at first registration

Besloten Vennootschap

 

NACE-code

MANUFACTURE OF MACHINERY AND EQUIPMENT (29) Manufacture of pumps and compressors (2912)

SBI-code

Manufacture of machinery and equipment n.e.c. (28) Manufacture of non-hydraulic pumps and compressors (2813) Wholesale of internal combustion engines (46693)

Formal objective

Exploiteren van een of meer machinefabrieken en handel in pompen en bronbemalingsartikelen en aannemen van werken; holding en financierings- objective

Import

Belgium, Germany, France

 

Employees                                Total:    417

Employees according to CoC      Chamber of commerce: 417

 

 

COMPANY STRUCTURE   

 

Shareholder

Weir B.V.

 

Egtenrayseweg 9

 

5928PH VENLO

 

Netherlands

 

KvK: 12032531

 

Active since: 05-10-1995

 

Percentage: 100.00%

Ultimate parent company

Weir Group Activities of holding companies Limited

 

Glasgow G2-6DB U.K.

 

990001830760

Holding company

Weir B.V.

 

Egtenrayseweg 9

 

5928PH VENLO

 

KvK: 12032531

 

Bank                                         ABN Amro Bank NV

Account number: 57.94.24.588

ING Bank NV

 

 

Real estate                                Unknown

The real estate is checked at the land registration office

Object code: None registration type

 

MANAGEMENT

 

Management                             E.R. van Koert

Ernst Ronald

Authorization: Limited authorization

Position: Manager

Date appointed: 07-01-2008

Date of birth: 28-06-1965

 

C. Zaalberg

Cornelis

Authorization: Fully authorized

Position: Manager

Date appointed: 19-12-2005

Date of birth: 09-04-1955

 

W. Giesen-Thissen

Waltraud

Authorization: Limited authorization

Position: Financieel manager

Date appointed: 01-01-2008

Date of birth: 17-03-1965

 

E.J.P. Alsters

Elisabeth Josephina Petronella

Authorization: Limited authorization

Position: Proxy

Date appointed: 27-10-2009

Date of birth: 27-04-1968

 

M.J.G. Beurskens - Hovens

Manuela Josephina Gerarda

Authorization: Limited authorization

Position: Proxy

Date appointed: 27-10-2009

Date of birth: 29-09-1970

 

G.J.H. Hermans - Groetelaers

Gerardina Johanna Henriëtte

Authorization: Limited authorization

Position: Proxy

Date appointed: 27-10-2009

Date of birth: 27-09-1955

 

P.M.J. Heuvelmans

Peter Maria Johannes

Authorization: Limited authorization

Position: Proxy

Date appointed: 27-10-2009

Date of birth: 09-06-1968

 

 

R.W.P.A. Könisser

Roy Wilhelmina Peter Alexander

Authorization: Limited authorization

Position: Proxy

Date appointed: 27-10-2009

Date of birth: 15-02-1974

 

J.P.D. van Leeuwen

Johannes Pieter Dirk

Authorization: Limited authorization

Position: Proxy

Date appointed: 21-02-2006

Date of birth: 30-01-1958

 

G.P.J. Schreurs

Godefridus Petrus Johanna

Authorization: Limited authorization

Position: Proxy

Date appointed: 06-11-2002

Date of birth: 08-07-1966

 

A.W.F. Mitchelson

Alan Wallace Fernie

Resigned

Authorization: Fully authorized

Position: Manager

Date appointed: 06-08-2009

Date of birth: 30-03-1949

 

M.J.G. Beurskens-Hovens

Manuela Josephina Gerarda

Resigned

Authorization: Limited authorization

Position: Proxy

Date appointed: 27-10-2009

Date of birth: 29-09-1970

 

G.J.H. Groetelaers

Gerardina Johanna Henriëtte

Resigned

Authorization: Limited authorization

Position: Proxy

Date appointed: 27-10-2009

Date of birth: 27-09-1955

 

 

PAYMENT INFORMATION

 

Payment experiences Complaints are known

Payments Based on multiple payment experiences up to € 50.000

Quarter: 2 2011: 51 Average days

Quarter: 3 2011: 58 Average days

Quarter: 4 2011: 70 Average days

Quarter: 1 2012: 59 Average days

 

 

Invoices

Current quarter

2011 Q4

 

2011 Q3

2011 Q2

Total

311

100%

1.268.968

1.299.748

1.295.730

1.280.105

Within terms

145

51,5%

654.116

523.293

614.869

693.362

Delayed 0 - 30

144

46,4%

588.988

601.520

588.988

564.299

Delayed 31 - 60

13

1,6%

20.201

100.685

67.123

16.781

Delayed 61 - 90

2

0,4%

5.663

 

 

5.663

Delayed 91 - 120

3

0,0%

 

29.700

9.900

 

Delayed 120+ days

4

0,0%

 

44.550

14.850

 

 

 

FINANCIAL INFORMATION 

 

Auditor

Ernst & Young

 

Annual accounts

There is no financial information published

Tendency

Not to be judged

Profitability

Not to be judged

Solvency

Not to be judged

Liquidity

Based on payment experiences the liquidity can be described as positive

Currency

Euro

 

 

History

 

Consent statements       Over bookyear 2010 a consent agreement is filed

Over bookyear 2009 a consent agreement is filed

Over bookyear 2008 a consent agreement is filed

 

Management                 Since 01-12-2010 is Proxy Alan Wallace Fernie Mitchelson out of office.

Since 27-10-2009 is Proxy Gerardina Johanna Henriëtte Groetelaers appointed.

Since 27-10-2009 is Proxy Elisabeth Josephina Petronella Alsters appointed.

Since 27-10-2009 is Proxy Manuela Josephina Gerarda Beurskens-Hovens appointed.

Since 27-10-2009 is Proxy Peter Maria Johannes Heuvelmans appointed.

Since 27-10-2009 is Proxy Roy Wilhelmina Peter Alexander Könisser appointed.

Since 31-08-2009 is Proxy Chretien Frans Joseph Reijntjes out of office.

Since 06-08-2009 is Proxy Alan Wallace Fernie Mitchelson appointed.

Since 06-08-2009 is Proxy Scot Allen Smith out of office.

 

Company structure

 

• Weir Group Activities of holding companies Limited (990001830760) Glasgow G2-6DB U.K.

o Weir B.V. (12032531)

VENLO

Subsidiary (100%)

■ Weir Minerals Netherlands B.V. (12032525) Venlo

Subsidiary (100%)

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.91

UK Pound

1

Rs.81.27

Euro

1

Rs.67.98

 

 

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.