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Report Date : |
19.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
BITZER AUSTRALIA PTY LIMITED |
|
|
|
|
Registered Office : |
134-136
Dunheved Circuit, St Marys, |
|
|
|
|
Country : |
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|
|
|
Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
21.10.1992 |
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|
|
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Com. Reg. No.: |
057670023 |
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|
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Legal Form : |
Australian
Proprietary Company |
|
|
|
|
Line of Business : |
Manufacturing and sales of commercial refrigeration
equipment and commercial/domestic air conditioners |
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|
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No. of Employees : |
190 |
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 |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
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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 (31.12.2011) |
Current Rating (31.03.2012) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Verified Address
Subject
name : BITZER
AUSTRALIA PTY LIMITED
Business
address : 134-136
Dunheved Circuit
Town :
St
Marys
Province
: New
South Wales
Zip/postal
code : 2760
Country
: Australia
Tel : +61 2
88019300
Fax : +61 2
96734698
Email
: info@bitzer.com.au
Website
: www.bitzer.com.au
Registered
address : 134-136
Dunheved Circuit
Town :
St
Marys
Province
: New
South Wales
Zip/postal
code : 2760
Country
: Australia
Postal
address : Private
Bag 7
Town :
St
Marys
Province
: New
South Wales
Zip/postal
code : 1790
Country
: Australia
Executive Summary
Date
founded or registered : 21/10/1992
Legal
form : Australian
Proprietary Company
Chief
executive : Rudiger
Rudischhauser
Issued
& paid up capital : AUD
8,651,000
Sales
turnover : AUD 58,956,488 (Non-consolidated 12
months, 31/12/2011)
Net
income : AUD
1,910,187 (Non-consolidated 12 months, 31/12/2011)
Total
fixed assets : AUD
39,718,743 (Non-consolidated 12 months, 31/12/2011)
Line of business : Manufacturing
and sales of commercial refrigeration equipment and commercial/domestic air
conditioners.
Staff
employed : 190
employees (Subject); 3,000 employees (Bitzer Group)
Country
risk : Country
risk is minimal
Operation
trend : Operational
trend is progressing
Management
experience : Management is
adequately experienced
Financial
performance : Financial
performance is good
Organization
structure : Organizational
structure is stable
Detrimental
: No detrimental records found
Payment
history : No payment
delays noted
Registry Data
Registration
date : 21/10/1992
Legal
form : Australian
Proprietary Company
Registration
no Australian Company Number: 057670023
Registered
authority : Australian
Securities and Investments Commission
Fiscal/
Tax no : Australian Business Number: 70057670023
Registry
status : Live/Active
Previous name : BITZER
KUHLMASCHINENBAU AUSTRALIA PTY. LIMITED (initial)
Change
of legal form : None
reported.
Key Management
Name :
Rudiger
Rudischhauser
Designation
: Managing
Director
Appointments
Name :
Peter Friedrich
Eugen Schaufler
Designation
: Director
Appointment
date : 21/10/92
Address
: Arminstrabe 8
Stuttgart 7000
Germany
Biography
: Born on 28-11-1940 in
Stuttgart, Germany.
Mr. Peter Schaufler serves as Chief Executive Officer and
Managing
Partner of Bitzer SE.
Name :
Rudiger
Rudischhauser
Designation
: Director and Company
Secretary
Appointment
date : 23/10/01
Address
: 14 Kelvin Road
St Ives, NSW 2075
Australia
Biography
: Born on 27-10-1963 in
Baligen, Germany
Name :
Christian Wahlers
Designation
: Director
Appointment
date : 16/12/10
Address
: Im Schonberg 23
Holzgerlingen 71088
Germany
Biography
: Born on 07-12-1967 in
Verden, Germany.
Name :
Michael Heinrich
Bauer
Designation
: Director
Appointment
date : 12/12/11
Address
: Learchenweg 3
74679 Weissbach
Germany
Biography
: Born
on 21-05-1966 in Bad Mergentheim, Germany.
Name :
Jurgen Martin
Kleiner
Designation
: Director
Appointment
date : 12/12/11
Address
: Dietrich-Bonhoeffer-Str.3
70771 Leinfeldenechterdingen
Germany
Biography
: Born on 16-11-1960 in
Sigmaringen, Germany.
Staff
employed : 190 employees
(Subject); 3,000 employees (Bitzer Group)
Key Advisors
Auditors
: POWE PARTNERS
Level 1, 1095 Old Princes Highway
Engadine, NSW 2233
Australia
Composition
Authorized
Capital : AUD 8,651,000
No of
shares : 8,651,000
Ordinary Shares
Share
par value : AUD 1
Issued
capital : AUD
8,651,000
Paid
up capital : AUD
8,651,000
How
listed : Full
List
Composition
Shareholder
name : Peter F
Schaufler
Address
: Arminstrabe
8
Stuttgart 7000
Germany
No. of
shares : 1
Ordinary Shares
Shareholder
name : BITZER SE
Address
: Eschenbrünnlestraße
15
71065 Sindelfingen
Germany
No. of
shares : 8,650,999
Ordinary Shares
Structure
Name :
BITZER
SE
Affiliation
type : Parent
Company
Address
: Eschenbrünnlestraße
15
71065 Sindelfingen
Germany
Comments : Bitzer
SE engages in the research, design, development, and manufacturing of
compressors, condensing units, and pressure vessels for refrigeration and
air-conditioning applications. Its products include piston, screws, scroll
compressors, condensers, liquid receivers, oil separators or oil coolers,
pressure vessels, and reciprocating compressors. The company was formerly known
as Bitzer Kuehlmaschinenbau Gmbh & Co. Holding Kg and changed its name to
Bitzer SE in September, 2008. Bitzer SE was founded in 1934 and is based in
Sindelfingen, Germany.
Name :
BITZER
US INC.
Affiliation
type : Sister
Company
Address
: 4031
Chamblee Road
Oakwood, GA 30566
United States
Comments : Bitzer US Inc. manufactures compressors for the
refrigeration and air conditioning industry in the United States and
internationally. The company offers scroll compressors; piston compressors,
such as semi-hermetic reciprocating compressors, reciprocating compressors for
transport application, and open type reciprocating compressors; screw
compressors, which include oil coolers for screw compressors, oil separators, CS.3
compact screw compressors (microsite), semi-hermetic screw compressors,
semi-hermetic compact screws, hermetic compact-screws, and open drive screw
compressors; and pressure vessels, which include condensers, liquid receivers,
oil coolers for screw compressors, and oil separators for screw compressors. It
also provides BITZER Software 5.3.1 that supports users in the plant design.
The company was incorporated in 1976 and is based in Oakwood, Georgia. BITZER
US Inc. operates as a subsidiary of Bitzer SE.
Name :
BITZER
KÜHLMASCHINENBAU GMBH
Affiliation
type : Sister
Company
Address
: Eschenbrünnlestrasse
15
Sindelfingen 71065
Germany
Comments : BITZER
Kühlmaschinenbau GmbH manufactures compressors for refrigeration and air
conditioning systems. BITZER Kühlmaschinenbau GmbH was formerly known as
Apparatebau für Kältetechnik. The company was founded in 1934 and is based in
Sindelfingen, Germany. BITZER Kühlmaschinenbau GmbH operates as a subsidiary of
Bitzer SE.
Name :
BITZER
(SOUTH EAST ASIA) SDN. BHD.
Affiliation
type : Sister
Company
Address
: No.
201, Block A, Kelana Business Centre
97, Jalan SS 7/2
47301 Petaling Jaya
Selangor Darul Ehsan
Malaysia
Name :
BITZER
INDIA PRIVATE LTD.
Affiliation
type : Sister
Company
Address
: R708/1,
TTC, Rabale MIDC
Navi Mumbai 400 701
India
Related
companies and corporate
affiliations
comments
: Other companies of the Bitzer Group should be considered
affiliates of the Subject.
Bank Details
Name
of bank : HSBC
Bank Australia
Address
: Australia
Account
details : Current
Account
Comments : It
is generally not the policy of local banks to provide credit status information
to non related parties, however interested parties would be advised to consult
first with the Subject if banker's references are required.
Mortgages
: None
reported.
Legal Fillings
Bankruptcy
fillings : None
reported.
Court
judgements : None
reported.
Tax
liens : None
reported.
Others
: None
reported.
Description
Source
of financial statement : Commercial
Registry Filings
Financial
statement date : 31/12/11
Type
of accounts : Full
audited
Currency
: Australia
Dollar (AUD)
Exchange
rate : 1
USD = AUD 3.14 as of 18-05-2012
Summarized Financial Information
Consolidation
type : Non Consolidated Non Consolidated
Currency
: Australia
Dollar (AUD) Australia
Dollar (AUD)
Denomination
: (x1) One (x1) One
Date
of financial year end : 31/12/11 31/12/10
Length
of accounts : 12 months 12 months
Sale
turnover / Income : 58,956,488 55,393,226
Profit
before tax : 2,775,714
1,564,608
Net
income : 1,910,187
1,121,400
Non
current assets : 8,271,869
7,747,412
Current
assets : 31,446,874
28,103,948
Inventories
: 18,898,539
15,359,985
Total
assets : 39,718,743
35,851,360
Current
liabilities : 15,046,171
14,285,286
Non
current liabilities : 1,604,788
408,477
Total
liabilities : 16,650,959
14,693,763
Share
equity : 23,067,784
21,157,597
Retained
earning : 14,416,784 12,506,597
Main activities : The
Subject engages in manufacturing and sales of commercial refrigeration
equipment and commercial/domestic air conditioners.
The Subject operates as a subsidiary of Bitzer SE.
Bitzer SE engages in the research, design, development, and
manufacturing of compressors, condensing units, and pressure vessels for
refrigeration and air-conditioning applications. Its products include piston,
screws, scroll compressors, condensers, liquid receivers, oil separators or oil
coolers, pressure vessels, and reciprocating compressors. The company was
formerly known as Bitzer Kuehlmaschinenbau Gmbh & Co. Holding Kg and
changed its name to Bitzer SE in September, 2008. Bitzer SE was founded in 1934
and is based in Sindelfingen, Germany. Bitzer SE 2010 annual revenue was EUR
525 million.
Product
& services : Reciprocating
compressors
Screw compressors
Scroll compressors
Pressure vessels
Air conditioners
Brand
: BITZER
Purchases
International
: Asia, Europe
Sales
Local
: Yes
International
: New Zealand,
Pacific Islands
Property & Assets
Premises : The
Subject operates from premises located at the verified heading address
consisting of production facilities, warehouse and administrative office.
Branches
: In
addition, the Subject operates from branch facilities located at:
Unit 8, 400 Grand Junction Road
Mansfield Park, SA 5012
Australia
Tel +61 8 82684500
25 Strezlecki Avenue
Sunshine, VIC 3020
Australia
Tel +61 3 83268200
Unit 18, 258 Musgrave Road
Coopers Plains, QLD 4108
Australia
Tel +61 7 32743620
Unit 1, 11 Draper Place
Kewdale, WA 6105
Australia
Tel +61 8 93592066
Gross Domestic Products (GDP) &
Economic Overview
Central
bank : Reserve
Bank of Australia
Reserve
of foreign exchange & gold : US$
43.879 billion
Gross
domestic product - GDP : US$
1.448 trillion
GPP
(Purchasing power parity) : 918.529
billion of International dollars
GDP
per capita - current prices : US$
64,351
GDP -
composition by sector : agriculture:
4.0%
industry: 26%
services: 70%
Inflation
: 2008:
4.4%
2009: 1.8%
2010: 2.8%
2011: 3.0%
Unemployment
rate : 2008:
4.2%
2009: 5.6%
2010: 5.2%
2011: 5.0%
Public
debt
(General
Government gross debt as
a %
GDP)
: 2008: 11.6%
2009: 17.6%
2010: 22.3%
2011: 24.1%
Government
bond ratings : Standard
& Poor's: AAA/Stable/A-1+
Moody's rating: Aaa
Moody's outlook: STA
Market
value of publicly traded
shares
: US$1.258 trillion
Largest companies in the country : Westpac Banking Group (Major Banks), BHP Billiton
(Diversified Metals & Mining), Commonwealth Bank (Major Banks), National
Australia Bank
(Major Banks), ANZ Banking (Major Banks), Telstra
(Telecommunications services), Wesfarmers (Food Retail)
Trade & Competitiveness Overview
Total
exports : US$210.7
billion
Exports
commodities : coal,
iron ore, gold, meat, wool, alumina, wheat
Total
imports : US$187.2
billion
Imports commodities : machinery
and transport equipment, computers and office machines, telecommunication
equipment and parts, crude oil and petroleum products
Export - major partners : Japan
18.9%, China 14.2%, South Korea 8%, US 6%, NZ 5.6%, India 5.5%, UK 4.2%
Import - major partners : China
15.5%, US 12.8%, Japan 9.6%, Singapore 5.6%, Germany 5.2%, UK 4.3%, Thailand
4.2%
FDI
Inflows : 2008:
US$46,722 million
2009: US$22,572 million
2010: US$32,472 million
FDI
Outflows : 2008:
US$32,819 million
2009: US$18,426 million
2010: US$26,431 million
Best
countries for doing business : 10
out of 183 countries
Global
competitiveness ranking : 20
(ranking by country on a basis of 142, the first is the best)
Country and Population Overview
Total
population : 22.23
million
Total
area : 7,692,024
km2
Capital
: Canberra
Currency
: Australian
dollars (AUD)
Internet
users as % of total
population
: 76.00%
Purchase Term
International
: L/C,
Prepayment, Telegraphic transfer, Credit 30-90 days
Sales Term
Local
: Prepayment,
Bank transfer, Credit 30-90 days
International
: L/C,
Prepayment, Telegraphic transfer, Credit 30-90 days
Trade Reference/ Payment
Behaviour
Comments : As
local and international trade references were not supplied, the Subject's
payment track record history cannot be appropriately determined but based on
our research, payments are believed to be met without delay.
Investigation Note
Sources
: Interviews
and material provided by the Subject
: Other official and local business sources
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.87 |
|
|
1 |
Rs.86.46 |
|
Euro |
1 |
Rs.69.48 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.