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Report Date : |
30.11.2012 |
IDENTIFICATION DETAILS
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Name : |
VARIAN
MEDICAL SYSTEMS INTERNATIONAL AG |
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Registered Office : |
Chollerstrasse
38 Postfach 6303 6300 Zug |
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Country : |
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Date of Incorporation : |
30.10.1959 |
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Com. Reg. No.: |
170.3.001.584-3
/ 454212 |
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Legal Form : |
Company
limited by shares |
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Line of Business : |
Manufacture
of irradiation, electromedical and electrotherapeutic equipment |
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No. of Employees : |
170 |
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RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Switzerland
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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
Varian Medical Systems International AG
Operating address:
Chollerstrasse 38
Postfach 6303
6300 Zug
Switzerland/CH
Telephone: 041
7498844
Fax: 041
7403340
Web site: http://www.varian.com
E-mail: info.europe@ch.varian.com
VAT-No.: CHE105742500
Established: 1959
Line of Business: Medical technology, Consumer goods wholesale
Industry Division: Manufacturing, Wholesale trade
Industry-code (NACE): 2660 Manufacture of
irradiation, electromedical and electrotherapeutic equipment
4669 Wholesale of other machinery and
equipment
Import/Export: Import,
Export
Quality certification: ISO 9001
Banks: CS
Credit Suisse
UBS
Ltd
Coverage: Company
Figures: estimated
Employees: 170
Sales: CHF
200-400 Mio
Varian Medical
Systems radiates success in electrotherapeutics. The company works mainly with
products related to x-rays and radiation treatment of cancer. The company's
oncology unit makes linear accelerators, simulators, and data management
software, primarily for cancer radiotherapy. Other cancer treatment offerings
include devices for brachytherapy, a treatment that protects healthy tissue
through the use of radiation implants. Varian Medical Systems' X-ray unit makes
imaging subsystems and X-ray-generating tubes for medical imaging, security,
and OEM applications.
Information on
property ownership was not available.
Company No: 170.3.001.584-3
/ 454212
Legal form: Company
limited by shares
Registration: 30.10.1959
Legal status: active
Responsible Register: Handelsregister des Kantons Zug
History: Date
of Statutes: 17.03.1989
Date
of Statutes: 26.03.1999
Date
of Statutes: 08.04.1997
Entry Deleted Name
06.04.1999 Varian
Medical Systems International AG
06.04.1999 Varian
Medical Systems International SA (Name translated)
06.04.1999 Varian
Medical Systems International Ltd (Name translated)
06.04.1999 Varian International AG
22.04.1997 06.04.1999 Varian International Ltd (Name translated)
22.04.1997 06.04.1999 Varian International SA (Name translated)
Entry Deleted Legal domicile
active Zug,
Switzerland
Entry Deleted Address
26.04.1995 Chollerstrasse
38, 6300 Zug/ZG, Switzerland/CH
26.04.1995 Steinhauserstrasse, 6300 Zug/ZG,
Switzerland/CH
Entry Deleted Capital
active Share
Capital CHF 400'000, paidup CHF 400'000
Entry Deleted Capital Structure
active 400
Registered shares of CHF 1'000.--
Entry Deleted Activity (original Language)
active Vertrieb
von elektronischen und technischen Einrichtungen jeder Art sowie deren
Bestandteilen, hauptsächlich von solchen Einrichtungen und Bestandteilen, die
durch Varian Associates Inc. oder deren Tochtergesellschaften hergestellt oder
lizenziert wurden, Handel jeder Art sowie Forschungs- und Entwicklungsarbeiten
auf dem Gebiete elektronischer und technischer Einrichtungen, Erwerb, Halten
und Verkauf von Patenten und immateriellen Güterrechten jeder Art, Erwerb und
Vergebung von Lizenzen jeder Art, Erwerb, Verwaltung und Verkauf von
Grundstücken sowie Beteiligung an Unternehmungen, die auf dem Gebiete von
elektronischen und technischen Einrichtungen tätig sind.
Entry Deleted Remarks (original Language)
active Publishing
authority: SHAB.
active Merger:
Übernahme infolge Fusion: Die Aktiven von CHF 26'378'817.00 und die Passiven
von CHF 26'178'817.00 der "Varian AG", in Zug, gemäss Fusionsvertrag
vom 17.03.1989 und Bilanz per 30.09.1988, nach Massgabe von Art. 748 OR. Für
den Aktivenüberschuss von CHF 200'000.00 erhalten die Aktionäre der
"Varian AG" 200 Namenaktien zu CHF 1'000.00 der "Varian
International AG".
22.04.1997 Note:
Ferner Aenderung nicht publikationspflichtiger Tatsachen
26.04.1995 Adress:
Adressänderung zufolge behördlicher Umbenennung
22.04.1997 Merger: Aktiven und Passiven der Firma
"Varian Aerograph AG", Zug (Art. 748 OR).
22.04.1997 Merger: Uebernahme sämtlicher Aktiven und
Passiven der "Eitel-McCullough Electronic AG", Zug, Bilanz per
29.07.1967.
Entry Deleted Branches
06.08.2003 Neuenhoferstrasse 107, 5400 Baden/AG,
Switzerland/CH
14.05.1999 , Basel/BS, Switzerland/CH
Title Name
President John
Wei-Ching Kuo, Origin: United States of America, Residential address: Saratoga,
United States of America, single signature, Registered since: 14.06.2006
Vice-President Fritz
Oderbolz, Origin: Tübach, Switzerland, Residential address: 6331 Hünenberg/ZG,
Switzerland, single signature
Executive Director Martin Amstutz, Origin: Engelberg,
Switzerland, Residential address: Döttingen, Switzerland, single signature,
Registered since: 04.07.2012
Executive Director Ernst Derrer, Origin: Niederhasli,
Switzerland, Residential address: 6330 Cham/ZG, Switzerland, single signature,
Registered since: 20.04.2004
Executive Director Michael Sandhu, Origin: United Kingdom,
Residential address: 6340 Baar/ZG, Switzerland, single signature, Registered
since: 05.06.2007
Title Name
Member with procuration Mario Cavallari, Origin: Alpnach, Switzerland,
Residential address: Alpnach, Switzerland, single power of attorney, Registered
since: 20.04.2004
Member with procuration Roger Leibundgut, Origin: Rüegsau, Switzerland, Residential
address: 6289 Müswangen/LU, Switzerland, single power of attorney, Registered
since: 05.06.2007
Member with procuration Luis (Fernando) Martin Rodriguez, Origin: Spain,
Residential address: Baar, Switzerland, single power of attorney, Registered
since: 05.06.2007
Member with procuration Rolf Stähelin, Origin: Sommeri, Switzerland,
Residential address: 8952 Schlieren/ZH, Switzerland, single power of attorney,
Registered since: 05.06.2007
Title Name
Auditor PricewaterhouseCoopers
AG, Residential address: Zürich, Switzerland, Registered since: 19.04.1999
Title Name
Chief Executive Officer Fritz Oderbolz
Chief Marketing Officer Rolf Stähelin
Chief Human Resources Officer Mario Cavallari
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 30.09.2011 30.09.2010 30.09.2009 30.09.2008 30.09.2007
Number of months: 12 12 12 12 12
Currency: th.
USD th. USD th. USD th. USD th.
USD
Balance Sheet
Intangible fixed assets 212'452.0 208'451.0
Tangible fixed assets 285'894.0 267'927.0
other fixed assets 145'798.0 166'230.0
Fixed assets 644'144.0 642'608.0
Stocks 409'962.0 363'933.0
Trade accounts receivable 635'153.0 591'677.0
Liquid assets 564'457.0 520'221.0
Securities 19'205.0
other trade accounts 225'840.0 205'513.0
Other current assets 809'502.0 725'734.0
Current assets 1'854'617.0 1'681'344.0
Total assets 2'498'761.0 2'323'952.0 2'308'200.0 1'975'512.0 1'684'375.0
Capital 112'344.0 118'007.0
Other shareholders funds 1'131'547.0 1'157'360.0
Total shareholders equity 1'243'891.0 1'275'367.0 1'311'800.0 1'027'185.0 821'455.0
long term debt (financial debts) 6'250.0 17'869.0
Other non current liabilities 122'708.0 127'175.0
Non current liabilities 128'958.0 145'044.0
short term debt (financial debts) 181'400.0 20'000.0
Trade accounts payable 154'946.0 119'018.0
Accruals 290'009.0 287'851.0
other accounts payable 499'557.0 476'672.0
other current liabilities 789'566.0 764'523.0
Current liabilities 1'125'912.0 903'541.0
Shareh. equity, min. interests + liabilities 2'498'761.0 2'323'952.0
Profit and loss account
Sales 2'596'666.0 2'356'585.0
Net sales 2'596'666.0 2'356'585.0
Operating revenue 2'596'666.0 2'356'585.0 2'214'100.0 2'069'730.0 1'755'072.0
Cost of goods sold 1'460'777.0 1'330'943.0
Gross profit 1'135'889.0 1'025'642.0
Other operating expenses 547'438.0 491'440.0
Operating result 588'451.0 534'202.0 474'100.0 419'404.0 338'625.0
Interest revenues 2'858.0 2'831.0
Financial income 2'858.0 2'831.0
Interest expenses 2'599.0 4'108.0
Financial expenses 2'599.0 4'108.0
Financial result 259.0 -1'277.0
Result before extraordinary items 588'710.0 532'925.0
Extraordinary expenses 9'693.0 7'059.0
Extraordinary Result -9'693.0 -7'059.0
Result before taxes 579'017.0 525'866.0
Taxes 180'084.0 165'444.0
Result before minority interests 398'933.0 360'422.0 319'000.0 279'500.0 239'500.0
Result for the financial year 398'933.0 360'422.0
Cash flow
Depreciation 49'643.0 44'973.0 44'600.0 32'247.0 26'957.0
Cash flow 448'576.0 405'395.0
Cash flow from operating activities 472'779.0 460'786.0
Investments in tangible fixed assets 70'928.0 67'545.0 62'600.0 81'424.0 64'135.0
Cash flow from investing activities -117'932.0 -74'815.0
Cash flow from financing activities -311'335.0 -422'175.0
Others 724.0 2'896.0
Change in liquidity 44'236.0 -33'308.0
Liquidity at beginning of the year 520'221.0 553'529.0
Liquidity at end ot the year 564'457.0 520'221.0
Notes
Research and Development 170'725.0 156'748.0
Added value 631'259.0 529'974.0
Working Capital 890'169.0 836'592.0
Sales per Employee 455.6
Gross cost land and buildings 254'500.0 231'800.0
Gross cost other tangible fixed assets 346'600.0 331'000.0
Gross cost total 601'100.0 562'800.0
Employees at year
end 5'700 5'100 4'900 4'300
Name: Varian
Medical Systems Inc
City/Country: Palo
Alto, United States of America/US
No. of Owner/-s: 1
Owner: The
company is foreign owned.
Class: 100%
Name: Varian
Medical Systems Inc
City/Country: Palo
Alto, United States of America/US
Name: Bio-Imaging
Research, Inc
City/Country: Illinois,
United States of America/US
Name: Centella
Biotechnologies, Inc
City/Country: Delaware,
United States of America/US
Name: Mansfield
Insurance Company
City/Country: Vermont,
United States of America/US
Name: Page
Mill Corporation
City/Country: Massachusetts,
United States of America/US
Name: Pan-Pacific
Enterprises, Inc
City/Country: Delaware,
United States of America/US
Name: Varian
BioSynergy, Inc
City/Country: Delaware,
United States of America/US
Name: Varian
China Holdings, Inc
City/Country: Delaware,
United States of America/US
Name: Varian
FSC B.V
City/Country: Netherlands/NL
Name: Varian
Medical France
City/Country: France/FR
Name: Varian
Medical Systems Australasia Pty Ltd
City/Country: Australia/AU
Name: Varian
Medical Systems Beijing Co. Ltd
City/Country: China/CN
Name: Varian
Medical Systems Belgium N.V
City/Country: Belgium/BE
Name: Varian
Medical Systems Brasil Limitada
City/Country: Brazil/BR
Name: Varian
Medical Systems Canada Holdings, Inc.
City/Country: Delaware,
United States of America/US
Name: Varian
Medical Systems Canada, Inc
City/Country: Canada/CA
Name: Varian
Medical Systems Deutschland G.m.b.H.
City/Country: Germany/DE
Name: Varian
Medical Systems Deutschland Holdings G.m.b.H
City/Country: Germany/DE
Name: Varian
Medical Systems Finland OY
City/Country: Finland/FI
Name: Varian
Medical Systems Gesellschaft m.b.H.
City/Country: Austria/AT
Name: Varian
Medical Systems Haan G.m.b.H
City/Country: Germany/DE
Name: Varian
Medical Systems Iberica S.L
City/Country: Spain/ES
Name: Varian
Medical Systems India Pvt. Ltd
City/Country: Delaware,
United States of America/US
Name: Varian
Medical Systems India Software Pvt. Ltd.
City/Country: India/IN
Name: Varian
Medical Systems International Holdings, Inc.
City/Country: Delaware,
United States of America/US
Name: Varian
Medical Systems International (India) Pvt. Ltd. India
City/Country: India/IN
Name: Varian
Medical Systems Italia S.p.A.
City/Country: Italy/IT
Name: Varian
Medical Systems K.K. Japan
City/Country: Japan/JP
Name: Varian
Medical Systems Latin America, Ltd
City/Country: Delaware,
United States of America/US
Name: Varian
Medical Systems Mauritius Ltd
City/Country: Mauritius/MU
Name: Varian
Medical Systems Nederland B.V
City/Country: Netherlands/NL
Name: Varian
Medical Systems Nederland Holdings B.V.
City/Country: Netherlands/NL
Name: Varian
Medical Systems Pacific, Inc.
City/Country: Delaware,
United States of America/US
Name: Varian
Medical Systems Particle Therapy GmbH
City/Country: Germany/DE
Name: Varian
Medical Systems (RUS) LLC
City/Country: Russia/RU
Name: Varian
Medical Systems Scandinavia AS
City/Country: Denmark/DK
Name: Varian
Medical Systems Trading (Beijing) Co., Ltd
City/Country: China/CN
Class: 100%
Name: Varian
Medical Systems Imaging Laboratory GmbH
City/Country: Baden-Dättwil,
Switzerland/CH
Interest: 100.00%
voting right, 100.00% capital interest (since 2003)
Control date Year No. Amount CHF Status
09.10.2009 2009 0
09.10.2009 2008 0
09.10.2009 2007 0
09.10.2009 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.
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 good.
Payment experiences: Financial obligations are met in an orderly manner.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.20 |
|
|
1 |
Rs.88.37 |
|
Euro |
1 |
Rs.71.47 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.