MIRA
INFORM REPORT
|
Report Date : |
23.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
WEYLCHEM GRIESHEIM GMBH |
|
|
|
|
|
|
Registered Office : |
Stroofstrasse 27Industriepark
Frankfurt Am |
|
|
|
|
|
|
Country : |
|
|
|
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
|
|
Date of Incorporation : |
Private Subsidiary |
|
|
|
|
|
|
Com. Reg. No.: |
84190 |
|
|
|
|
|
|
Legal Form : |
Private Subsidiary |
|
|
|
|
|
|
Line of Business : |
Manufacture of various chemical products |
|
|
|
|
|
|
No. of Employees : |
137 |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
germany - ECONOMIC OVERVIEW
The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Like its Western European neighbors, Germany faces significant demographic challenges to sustained long-term growth. Low fertility rates and declining net immigration are increasing pressure on the country's social welfare system and necessitate structural reforms. Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, contributed to strong growth in 2006 and 2007 and falling unemployment. These advances, as well as a government subsidized, reduced working hour scheme, help explain the relatively modest increase in unemployment during the 2008-09 recession - the deepest since World War II - and its decrease to 6.0% in 2011. GDP contracted 5.1% in 2009 but grew by 3.6% in 2010, and 2.7% in 2011. The recovery was attributable primarily to rebounding manufacturing orders and exports - increasingly outside the Euro Zone. Germany's central bank projects that GDP will grow 0.6% in 2012, a reflection of the worsening euro-zone financial crisis and the financial burden it places on Germany as well as falling demand for German exports. Domestic demand is therefore becoming a more significant driver of Germany's economic expansion. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's budget deficit to 3.3% in 2010, but slower spending and higher tax revenues reduce the deficit to 1.7% in 2011, below the EU's 3% limit. A constitutional amendment approved in 2009 limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016. Following the March 2011 Fukushima nuclear disaster, Chancellor Angela Merkel announced in May 2011 that eight of the country's 17 nuclear reactors would be shut down immediately and the remaining plants would close by 2022. Germany hopes to replace nuclear power with renewable energy. Before the shutdown of the eight reactors, Germany relied on nuclear power for 23% of its energy and 46% of its base-load electrical production.
|
Source : CIA |
COMPANY NAME AND ADDRESS
WEYLCHEM GRIESHEIM GMBH
Stroofstrasse
27Industriepark
Frankfurt Am Main, 65933
Germany
Tel: +49 (0) 69 38002440
Fax: +49 (0) 69 38002103
Employees: 137
Company Type: Private Subsidiary
Corporate Family: 5 Companies
Ultimate Parent: WeylChem RM Holding GmbH
Incorporation Date: 14-May-2008
Financials in: USD (Millions)
Fiscal Year End: 31-Dec-2010
Reporting Currency: Euro
Annual Sales: 67.0
Total Assets: 29.6
Business Description
WeylChem Griesheim GmbH
is primarily engaged in manufacture of various chemical products: peptones,
peptone derivatives, other protein substances and their derivatives not
elsewhere classified; chemically modified oils and fats; materials used in the
finishing of textiles and leather; powders and pastes used in soldering,
brazing or welding; substances used to pickle metal; prepared additives for
cements; activated carbon, lubricating oil additives, prepared rubber
accelerators, catalysts and other chemical products for industrial use;
anti-knock preparations, anti-freeze preparations, liquids for hydraulic
transmission; and composite diagnostic or laboratory reagents. This class also
includes: manufacture of writing and drawing ink.
Industry
Key Executives
|
Name |
Title |
|
Rafael Reiser |
Managing director |
Registered No.(DEU): 84190
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7550783
2 - Balance Sheet Item Exchange Rate:
USD 1 = EUR 0.7454064
Location
Stroofstrasse 27Industriepark
Frankfurt Am Main, 65933
Germany
Tel: +49
(0) 69 38002440
Fax: +49
(0) 69 38002103
Sales EUR(mil): 50.6
Assets EUR(mil): 22.0
Employees: 137
Fiscal Year End: 31-Dec-2010
Industry: Chemical
Manufacturing
Incorporation Date: 14-May-2008
Company Type: Private
Subsidiary
Quoted Status: Not
Quoted
Registered No.(DEU): 84190
Managing director: Rafael
Reiser
Industry
Codes
|
ANZSIC 2006 Codes: |
||
|
1899 |
- |
Other Basic Chemical Product Manufacturing Not Elsewhere Classified |
|
3323 |
- |
Industrial and Agricultural Chemical Product Wholesaling |
|
NACE 2002 Codes: |
||
|
2466 |
- |
Manufacture of other chemical products not elsewhere classified |
|
5155 |
- |
Wholesale of chemical products |
|
NAICS 2002 Codes: |
||||
|
325998 |
- |
All Other Miscellaneous Chemical Product and Preparation Manufacturing |
||
|
4246 |
- |
Chemical and Allied Products Merchant Wholesalers |
||
|
US SIC 1987: |
|
|||
|
2899 |
- |
Chemicals and Chemical Preparations, Not Elsewhere Classified |
|
|
|
516 |
- |
Chemicals and Allied Products |
|
|
|
UK SIC 2003: |
||
|
2466 |
- |
Manufacture of other chemical products not elsewhere classified |
|
5155 |
- |
Wholesale of chemical products |
|
UK SIC 2007: |
||
|
2059 |
- |
Manufacture of other chemical products n.e.c. |
|
4675 |
- |
Wholesale of chemical products |
Business
Description
WeylChem Griesheim GmbH is primarily engaged in manufacture of various chemical products: peptones, peptone derivatives, other protein substances and their derivatives not elsewhere classified; chemically modified oils and fats; materials used in the finishing of textiles and leather; powders and pastes used in soldering, brazing or welding; substances used to pickle metal; prepared additives for cements; activated carbon, lubricating oil additives, prepared rubber accelerators, catalysts and other chemical products for industrial use; anti-knock preparations, anti-freeze preparations, liquids for hydraulic transmission; and composite diagnostic or laboratory reagents. This class also includes: manufacture of writing and drawing ink.
Financial
Data
|
Financials in: |
EUR(mil) |
1 Year Growth |
|
Revenue: |
50.6 |
-35.1% |
|
Assets: |
22.0 |
NA |
|
Current Assets: |
14.8 |
|
|
Total Liabilities: |
22.0 |
|
|
Issued Capital: |
0.0 |
|
|
Net Worth: |
9.6 |
|
|
Date of Financial Data: |
31-Dec-2010 |
|
Key Corporate Relationships
Bank: Commerzbank vormals Dresdner Bank
Corporate
Structure News
WeylChem
Griesheim GmbH
Total Corporate Family Members: 5
|
Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
|
WeylChem RM Holding GmbH |
Parent |
|
|
|
|
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Chemical Manufacturing |
67.0 |
137 |
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Chemical Manufacturing |
26.4 |
64 |
|
|
Subsidiary |
Frankfurt Am Main, Hessen |
Germany |
Chemical Manufacturing |
105.0 |
63 |
|
|
Subsidiary |
Elgin, SC |
United States |
Chemical Manufacturing |
|
|
Executives Report
Executives
|
|
|
|||
|
Managing director |
Managing Director |
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 |
|
|
|
|
|
|
Total income |
67.0 |
108.6 |
61.3 |
|
Raw materials and services |
19.3 |
38.4 |
39.4 |
|
Net sales |
67.0 |
108.6 |
61.3 |
|
Change in stock |
-3.1 |
-0.9 |
16.0 |
|
Other operating income |
1.6 |
3.1 |
3.0 |
|
Raw materials and consumables employed |
19.3 |
38.4 |
39.4 |
|
Other external charges |
19.5 |
37.3 |
17.9 |
|
Cost of goods sold |
38.8 |
75.7 |
57.2 |
|
Cost of raw materials |
38.8 |
75.7 |
57.2 |
|
Taxes and social security costs |
2.4 |
2.8 |
2.1 |
|
Total payroll costs |
11.6 |
13.6 |
8.5 |
|
Fixed asset depreciation and amortisation |
1.9 |
2.5 |
1.2 |
|
Other operating costs |
36.7 |
35.8 |
29.6 |
|
Net operating
income |
-5.1 |
1.1 |
-1.5 |
|
Other income |
0.1 |
0.2 |
0.1 |
|
Interest payable on loans |
0.2 |
0.3 |
0.3 |
|
Total expenses |
0.1 |
0.1 |
0.1 |
|
Profit before tax |
-5.2 |
0.9 |
-1.6 |
|
Provisions |
5.8 |
6.3 |
7.2 |
|
Extraordinary expenses |
0.1 |
- |
- |
|
Extraordinary result |
-0.1 |
- |
- |
|
Total taxation |
0.0 |
- |
- |
|
Net profit |
- |
0.9 |
- |
|
Net loss |
-5.3 |
- |
-1.6 |
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 |
0.0 |
0.0 |
0.0 |
|
Capital reserves |
18.5 |
19.8 |
11.8 |
|
Total reserves |
0.3 |
- |
- |
|
Profits for the year |
-5.9 |
-0.6 |
-1.5 |
|
Profit brought forward from previous
year(s) |
-0.6 |
-1.6 |
- |
|
Total
stockholders equity |
12.9 |
19.2 |
10.3 |
|
Other provisions |
3.2 |
3.8 |
4.5 |
|
Provision for pensions |
2.7 |
2.6 |
2.4 |
|
Provisions and allowances |
5.8 |
6.5 |
6.9 |
|
Trade creditors |
4.7 |
4.6 |
10.5 |
|
Taxation and social security |
0.2 |
0.2 |
0.2 |
|
Due to group companies |
5.7 |
9.7 |
12.2 |
|
Total current
liabilities |
10.7 |
14.4 |
22.9 |
|
Total
liabilities (including net worth) |
29.6 |
40.1 |
40.1 |
|
Patents |
0.0 |
0.0 |
0.0 |
|
Intangibles |
0.0 |
0.0 |
0.0 |
|
Land and buildings |
0.3 |
0.4 |
0.2 |
|
Machinery and tools |
8.5 |
8.2 |
6.3 |
|
Fixtures and equipment |
0.3 |
0.4 |
0.2 |
|
Fixed assets under construction |
0.2 |
0.5 |
2.1 |
|
Total tangible fixed
assets |
9.3 |
9.3 |
8.8 |
|
Total
non-current assets |
9.3 |
9.3 |
8.8 |
|
Raw materials |
2.0 |
3.1 |
4.6 |
|
Work in progress |
3.3 |
6.4 |
5.2 |
|
Finished goods |
7.3 |
8.6 |
10.1 |
|
Net stocks and work in progress |
12.6 |
18.1 |
20.0 |
|
Other receivables |
1.5 |
1.8 |
0.2 |
|
Total
receivables |
7.1 |
12.7 |
11.2 |
|
Owing from associated companies |
5.6 |
10.8 |
11.1 |
|
Cash and liquid assets |
0.0 |
0.0 |
0.0 |
|
Recoverable taxation |
0.5 |
- |
- |
|
Total current
assets |
19.8 |
30.7 |
31.3 |
|
Total assets |
29.6 |
40.1 |
40.1 |
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 |
18.57 |
21.34 |
13.67 |
|
Acid test ratio |
6.73 |
8.81 |
4.94 |
|
Total liabilities to net worth |
0.08% |
0.08% |
0.22% |
|
Net worth to total assets |
0.04% |
0.05% |
0.03% |
|
Current liabilities to net worth |
0.08% |
0.08% |
0.22% |
|
Current liabilities to stock |
0.08% |
0.08% |
0.11% |
|
Fixed assets to net worth |
0.07% |
0.05% |
0.09% |
|
Stock turnover rate |
1.86 |
1.61 |
3.43 |
|
Profit margin |
-0.01% |
0.00% |
0.00% |
|
Return on assets |
-0.02% |
0.00% |
0.00% |
|
Shareholders' return |
-0.04% |
0.00% |
-0.01% |
|
Sales per employee |
36.68 |
53.46 |
28.14 |
|
Profit per employee |
-2.85 |
0.45 |
-0.73 |
|
Average wage per employee |
6.33 |
6.71 |
3.92 |
|
Net worth |
12.9 |
19.2 |
10.3 |
|
Number of employees |
138 |
146 |
149 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.16 |
|
|
1 |
Rs.88.03 |
|
Euro |
1 |
Rs.70.86 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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.