MIRA INFORM REPORT

 

 

Report Date :

29.11.2012

 

IDENTIFICATION DETAILS

 

Name :

ANDREW AG

 

 

Registered Office :

Talstrasse 80, 8001 Zürich/ZH

 

 

Country :

Switzerland

 

                           

Date of Incorporation :

07.08.1984

 

 

Com. Reg. No.:

020.3.901.367-8 / 6841

 

 

Legal Form :

Company limited by shares

 

 

Line of Business :

trade in equipment for communications systems

 

 

No. of Employees :

35 employees

 

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 

 

 

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

(31.03.2012)

Current Rating

(30.06.2012)

Switzerland

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Switzerland - ECONOMIC OVERVIEW

 

Switzerland is a peaceful, prosperous, and modern market economy with low unemployment, a highly skilled labor force, and a per capita GDP among the highest in the world. Switzerland's economy benefits from a highly developed service sector, led by financial services, and a manufacturing industry that specializes in high-technology, knowledge-based production. Its economic and political stability, transparent legal system, exceptional infrastructure, efficient capital markets, and low corporate tax rates also make Switzerland one of the world's most competitive economies. The Swiss have brought their economic practices largely into conformity with the EU's, to enhance their international competitiveness, but some trade protectionism remains, particularly for its small agricultural sector. The fate of the Swiss economy is tightly linked to that of its neighbors in the euro zone, which purchases half of all Swiss exports. The global financial crisis of 2008 and resulting economic downturn in 2009 stalled export demand and put Switzerland in a recession. The Swiss National Bank (SNB) during this period effectively implemented a zero-interest rate policy to boost the economy as well as prevent appreciation of the franc, and Switzerland's economy recovered in 2010 with 2.7% growth. The sovereign debt crises currently unfolding in neighboring euro-zone countries pose a significant risk to Switzerland's financial stability and are driving up demand for the Swiss franc by investors seeking a safehaven currency. The independent SNB has upheld its zero-interest rate policy and conducted major market interventions to prevent further appreciation of the Swiss franc, but parliamentarians have urged it to do more to weaken the currency. The franc's strength has made Swiss exports less competitive and weakened the country's growth outlook; GDP growth fell to 2.1% in 2011. Switzerland has also come under increasing pressure from individual neighboring countries, the EU, the US, and international institutions to reform its banking secrecy laws. Consequently, the government agreed to conform to OECD regulations on administrative assistance in tax matters, including tax evasion. The government has renegotiated its double taxation agreements with numerous countries, including the US, to incorporate the OECD standard, and in 2011 it reached deals with Germany and the UK to resolve outstanding issues, particularly the possibility of imposing taxes on bank deposits held by foreigners. These steps will have a lasting impact on Switzerland's long history of bank secrecy.

 

Source : CIA

 

 

Company name

 

Andrew AG

 

 

Operating address

 

Talstrasse 80

8001 Zürich/ZH

Switzerland/CH

Telephone:                    044 8637373

Web site:                      http://www.commscope.com

VAT-No.:                      CHE106945879

 

 

Profile

 

Established:                  1984

Line of Business:           Consumer goods wholesale

Industry Division:           Wholesale trade

Industry-code (NACE):     4669     Wholesale of other machinery and equipment

Import/Export:               Import, Export

Banks:                         CS Credit Suisse

 

 

Operational Figures

 

Coverage:                     Company

Figures:                        estimated

Employees:                  35

Sales:                          CHF 20-40 Mio

 

 

Activity

 

The company intends to trade in equipment for communications systems.

 

 

Real Estate

 

Information on property ownership was not available.

 

 

Company Register

 

Company No:                020.3.901.367-8 / 6841

Legal form:                    Company limited by shares

Registration:                 07.08.1984

Legal status:                 active

Responsible Register:    Handelsregister des Kantons Zürich

History:                        Date of Incorporation Statutes: 30.09.1985

                                    Date of Statutes: 04.02.2011

                                    Date of Statutes: 04.01.2011

                                    Date of Statutes: 02.08.1995

 

Entry            Deleted   Name

active                           Andrew AG

 

Entry            Deleted   Legal domicile

09.02.2011                    Zürich, Switzerland

                    09.02.2011  Bachenbülach, Switzerland

 

Entry            Deleted   Address

09.02.2011                    Talstrasse 80, 8001 Zürich/ZH, Switzerland/CH

                    09.02.2011  Bächliwis 2B, 8184 Bachenbülach, Switzerland/CH

 

Entry            Deleted   Capital

active                            Share Capital CHF 17'200'000, paidup CHF 17'200'000

 

Entry            Deleted   Capital Structure

active                           1'000 Registered shares of CHF 17'200.--

 

Entry            Deleted   Activity (original Language)

18.01.2011                    Die Gesellschaft bezweckt den Handel mit Ausrüstungen für Kommunikationssysteme; Patente, Handelsmarken und technische und industrielle Kenntnisse zu erwerben, zu verwalten, zu verwerten und zu übertragen; technische und administrative Beratungsdienste zu leisten; sich an anderen Industrie- und Handelsunternehmen zu beteiligen, im In- und Ausland Zweigniederlassungen zu errichten und Tochtergesellschaften zu gründen und alle mit dem vorgenannten Zwecken unmittelbar oder mittelbar zusammenhängenden Geschäfte zu tätigen. Die Gesellschaft kann Finanzierungsgeschäfte tätigen, Dritten sowie den direkten und indirekten Aktionären der Gesellschaft und Gruppengesellschaften Darlehen gewähren und für deren Verbindlichkeiten gegenüber Dritten Sicherheiten aller Art bestellen, einschliesslich Pfänder, Sicherungsübereignungen und Garantien, auch wenn diese Darlehen oder Sicherheiten im ausschliesslichen Interesse ihrer direkten oder indirekten Aktionären oder anderer Gruppengesellschaften liegen und unentgeltlich gewährt werden.

                    18.01.2011  Bezweckt, Handel mit Ausrüstungen für Kommunikationssysteme, Patente, Handelsmarken und technische und industrielle Kenntnisse zu erwerben, verwalten, verwerten und zu übertragen, technische und administrative Beratungsdienste zu leisten, sich an anderen Industrie- und Handelsunternehmen zu beteiligen.

 

Entry            Deleted   Remarks (original Language)

active                           Publishing authority: SHAB.

active                           Financial data: CHF 17'100'000.-- durch Verrechnung liberiert. 

14.08.1995                    Shares: Die Übertragbarkeit der Namenaktien ist nach Massgabe der Statuten beschränkt.

14.08.1995                    Reports: Mitteilungen der Gesellschaft erfolgen schriftlich an die im Aktienbuch eingetragenen Adressen der Aktionäre und Nutzniesser. Sofern das Gesetz nicht zwingend etwas anderes bestimmt, kann der Verwaltungsrat Mitteilungen auch durch einmalige Publikation im SHAB vornehmen.

 

 

Official Administration

 

Title                                           Name

President                                    Mark A. Olson, Origin: United States of America, Residential address: Orland Park, United States of America, single signature

Chief Executive                           Raymond Tilmant, Origin: Belgium, Residential address: Saint Vaast, Belgium, single signature, Registered since: 16.11.2009

 

 

Management

 

Title                                           Name

Director                                      Michael D. Coppin, Origin: United States of America, Residential address: Denver , United States of America, single signature, Registered since: 16.11.2009

Director                                      Markus Kalt, Origin: Böttstein, Switzerland, Residential address: 5315 Böttstein/AG, Switzerland, single signature, Registered since: 16.11.2009

Member with signing authority      Philip Martin Armstrong Jr., Origin: United States of America, Residential address: Hickory /NC, United States of America, single signature, Registered since: 09.02.2011

Member with signing authority      Christopher D. Wikoff, Origin: United States of America, Residential address: Huntersville, United States of America, single signature, Registered since: 06.08.2012

Member with signing authority      Frank B. Wyatt ll, Origin: United States of America, Residential address: Hickory /NC, United States of America, single signature, Registered since: 18.01.2011

 

 

External Positions

 

Title                                           Name

Auditor                                       Ernst & Young AG, Residential address: Zürich, Switzerland

 

 

Ultimate Parent Company

 

Name:                            COMMSCOPE INC

City/Country:                   Hickory, United States of America/US

 

Owner/-s

 

No. of Owner/-s:            1

Owner:                         The company is foreign owned.

 

Class:                          100%

Name:                          Andrew LLC

City/Country:                 Delaware, United States of America/US

Interest:                        100.00% voting right, 100.00% capital interest

 

 

Investments

 

It is believed that the company has no investments.

 

 

Legal Actions

 

Control date       Year                       No.             Amount CHF     Status

16.02.2009          2009                           0

16.02.2009          2008                           0

16.02.2009          2007                           0

16.02.2009          2006                           0

 

An updated legal action check is only available against proof of interest. e.g. a copy of an enquiry letter, and order or invoice relating to the subject company.

 

 

Credit Information

 

Financial Statements:    The company does not disclose any financial statements. Third parties are not permitted any insight into the financial affairs. It is therefore difficult to make a proper assessment of the actual situation.

 

Financial Situation:        The financial situation is in order.

 

Payment experiences:   Financial obligations are met in an orderly manner.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.70

UK Pound

1

Rs.89.34

Euro

1

Rs.72.35

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.