|
Report Date : |
26.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
PERLEN CONVERTING AG |
|
|
|
|
Registered Office : |
Perlenring 3, 6035 Perlen/LU |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Year of Establishment : |
1949 |
|
|
|
|
Com. Reg. No.: |
100.3.015.968-8 / 319690 |
|
|
|
|
Legal Form : |
Company limited by shares |
|
|
|
|
Line of Business : |
film manufacturing and film coating for the packaging industry |
|
|
|
|
No. of Employees : |
150-249 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 |
Perlen Converting AG
Perlenring 3
6035 Perlen/LU
Switzerland/CH
Telephone: 041
4558800
Fax: 041
4558801
Web site: http://www.perlenpackaging.ch
E-mail: info@perlenpackaging.com
VAT-No.: CHE106171907
Established: 1949
Line of Business: Plastics
Industry Division: Manufacturing
Industry-code (NACE): 2221 Manufacture of
plastic plates, sheets, tubes and profiles
2222 Manufacture of plastic packing goods
Import/Export: Export
Export sales: 96.0%
Quality certification: ISO 9001:2000 (since 2006)
ISO
14001:2004 (since 2006)
ISO
15378:2006 (since 2007)
Banks: unknown
Coverage: Company
Employees: 150-249
Sales: CHF
100-200 Mio
The company
is active in film manufacturing and film coating for the packaging industry.
The processes and products are geared to the needs of the pharmaceutical
industry.
Products:
Mono-Films, Barrier-Films, Anti-Counterfeit Films, Suppository Films, Liquid
Films, Ampoules/Syringe Films, Anti-microbial Coatings.
Real Estate: The company does not appear
to own any property.
Company No: 100.3.015.968-8
/ 319690
Legal form: Company
limited by shares
Registration: 17.06.1993
Legal status: active
Responsible Register: Handelsregister des Kantons Luzern
History: Date
of Incorporation Statutes: 15.06.1993
Entry Deleted Name
active Perlen
Converting AG
Entry Deleted Legal domicile
active Root,
Switzerland
Entry Deleted Address
active 6035
Perlen/LU, Switzerland/CH
Entry Deleted Capital
active Share
Capital CHF 4'000'000, paidup CHF 4'000'000
Entry Deleted Capital Structure
active 40'000
Registered shares of CHF 100.--
Entry Deleted Activity (original Language)
active Herstellung,
Verarbeitung und Vertrieb von sowie Handel mit Kunststoffkomplexen und -filmen
und verwandten Produkten; Erwerb, Verwaltung und Veräusserung von Grundeigentum,
Wertschriften, Beteiligungen sowie Immaterialgüterrechten.
Entry Deleted Remarks (original Language)
active Publishing
authority: SHAB.
active Shares:
Die Namenaktien sind vinkuliert.
active Contribution
in kind/Asset takeover: Gemäss Sacheinlagevertrag vom 15.06.1993,
Abspaltungsbilanz per 31.12.1992 und detaillierten Listen vom 09.06.1993
übernahm die Gesellschaft von der Perlen Holding AG, in Perlen, Gemeinde Root,
den Geschäftsbereich "Converting" (Veredelung von Kunststoff-Folien
mittels Beschichtung, Kaschierung, Silikonisierung) mit Aktiven (inkl.
Grundstücke Nrn. 597 und 614, beide GB Root) von CHF 9'329'136.77 und Passiven
von CHF 5'329'136.77 zum Preis von CHF 4'000'000.--. Als Gegenleistung
erhielten die Sacheinlegerin 39'997 Namenaktien zu CHF 100.-- sowie Dr. Franz
J. Albrecht, von Sursee und Knutwil, in Winterthur, Dr. Urs Bänninger, von
Zürich, in Wollerau, und Hans Küher, von Leibstadt, in Buchrain, je 1
Namenaktie zu CHF 100.--.
active Reports:
Mitteilungen erfolgen durch Brief.
Title Name
President Peter
Schaub, Origin: Zürich, Ormalingen, Switzerland, Residential address: Uster/ZH,
Switzerland, joint signature of two, Registered since: 01.09.2010
Vice-President Dr.
Peter Schildknecht, Origin: Teufen AR, Switzerland, Residential address:
Meggen/LU, Switzerland, joint signature of two, Registered since: 14.08.2009
Executive Director Wolfgang Grimm, Origin: Germany, Residential
address: Meggen, Switzerland, joint signature of two
Title Name
Chairman of the management Wolfgang Grimm, Origin: Germany,
Residential address: Meggen, Switzerland, joint signature of two
Member of the management Johannes Giessler, Origin: Germany, Residential address:
Simonswald, Germany, joint signature of two, Registered since: 08.01.2010
Member of the management Philipp Morgenthaler, Origin: Wyssachen, Switzerland,
Residential address: Dietlikon/ZH, Switzerland, joint signature of two,
Registered since: 06.10.2009
Title Name
Auditor Stephan
Revisions AG, Residential address: Muttenz, Switzerland, Registered since:
17.12.2008
Title Name
Chief Executive Officer Wolfgang Grimm
Consolidation: consolidated
(Segment)
Industry: Trade/Industry
Fiscal year end: 31.12.2011 31.12.2010 31.12.2009 31.12.2008 31.12.2007
Number of months: 12 12 12 12 12
Currency: th.
CHF th. CHF th. CHF th. CHF th.
CHF
Operating revenue 105'730.0 101'695.0 97'896.0 112'547.0 112'939.0
Operating result 3'800.0 900.0 20.0 4'100.0 5'900.0
Capital 4'000.0 4'000.0 4'000.0 4'000.0 4'000.0
Cash flow 9'000.0 7'500.0 10'500.0 11'500.0
Financial Data CPH Group
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2011 31.12.2010 31.12.2009 31.12.2008 31.12.2007
Number of months: 12 12 12 12 12
Currency: th.
CHF th. CHF th. CHF th. CHF th.
CHF
Statement norm: ARR ARR ARR ARR ARR
Balance Sheet
Intangible fixed assets 2'948.0 3'754.0 5'615.0 6'224.0 792.0
Land and buildings 228'366.0 603'948.0 409'055.0 169'011.0 179'112.0
Other tangible fixed assets 540'804.0 249'927.0 300'425.0 337'109.0 346'665.0
Tangible fixed assets 769'170.0 853'875.0 709'480.0 506'120.0 525'777.0
Financial fixed assets 25'504.0 25'357.0 25'564.0 24'915.0 24'400.0
other fixed assets 916.0 916.0 2'602.0 3'504.0 2'481.0
Fixed assets 798'538.0 883'902.0 743'261.0 540'763.0 553'450.0
Stocks 57'338.0 63'669.0 60'355.0 83'635.0 91'018.0
Trade accounts receivable 75'623.0 60'932.0 67'164.0 90'809.0 106'842.0
Liquid assets 31'486.0 54'277.0 66'811.0 88'118.0 58'548.0
Securities 11'135.0 19'283.0 34'631.0 105'256.0 123'941.0
other trade accounts 14'149.0 19'800.0 17'029.0 18'799.0 14'114.0
Accruals 3'865.0 4'612.0 5'370.0 7'416.0 3'369.0
Other current assets 60'635.0 97'972.0 123'841.0 219'589.0 199'972.0
Current assets 193'596.0 222'573.0 251'360.0 394'033.0 397'832.0
Total assets 992'134.0 1'106'475.0 994'621.0 934'796.0 951'282.0
Capital 30'000.0 30'000.0 30'000.0 30'000.0 30'000.0
Other shareholders funds 676'308.0 680'186.0 721'540.0 702'757.0 695'013.0
Total shareholders equity 706'308.0 710'186.0 751'540.0 732'757.0 725'013.0
Minority interests 0.0 0.0 0.0 0.0 270.0
long term debt (financial debts) 169'266.0 225'925.0 115'977.0 70'287.0 62'919.0
Provisions 32'026.0 40'572.0 54'045.0 56'192.0 58'476.0
Other non current liabilities 627.0 411.0 1'239.0 1'822.0 2'237.0
Non current liabilities 201'919.0 266'908.0 171'261.0 128'301.0 123'632.0
short term debt (financial debts) 11'314.0 12'686.0 14'328.0 11'365.0 31'696.0
Trade accounts payable 40'017.0 93'584.0 29'241.0 33'293.0 40'121.0
Provisions 12'922.0 10'867.0 12'709.0 12'368.0 14'123.0
Accruals 12'731.0 8'765.0 11'094.0 11'595.0 9'964.0
other accounts payable 6'923.0 3'479.0 4'448.0 5'117.0 6'463.0
other current liabilities 32'576.0 23'111.0 28'251.0 29'080.0 30'550.0
Current liabilities 83'907.0 129'381.0 71'820.0 73'738.0 102'367.0
Shareh. equity, min. interests + liabilities 992'134.0 1'106'475.0 994'621.0 934'796.0 951'282.0
Profit and loss account
Sales 509'863.0 607'440.0 630'011.0
Reduction of proceeds 28'189.0 37'082.0 36'488.0
Net sales 520'932.0 417'396.0 481'674.0 570'358.0 593'523.0
Other operating revenue 7'836.0 19'174.0 8'524.0 9'827.0 13'338.0
Operating revenue 528'768.0 436'570.0 490'198.0 580'185.0 606'861.0
Cost of goods sold 346'280.0 278'535.0 278'405.0 334'077.0 347'439.0
Gross profit 182'488.0 158'035.0 211'793.0 246'108.0 259'422.0
Other operating expenses 202'465.0 188'695.0 203'278.0 213'957.0 208'967.0
Operating result -19'977.0 -30'660.0 8'515.0 32'151.0 50'455.0
Interest revenues 112.0 186.0 655.0 1'146.0 1'156.0
other financial revenues 791.0 654.0 5'596.0 3'285.0 2'559.0
Financial income 903.0 840.0 6'251.0 4'431.0 3'715.0
Interest expenses 11'212.0 5'038.0 3'036.0 3'054.0 3'174.0
other financial expenses 1'832.0 5'184.0 1'317.0 13'998.0 2'963.0
Financial expenses 13'044.0 10'222.0 4'353.0 17'052.0 6'137.0
Financial result -12'141.0 -9'382.0 1'898.0 -12'621.0 -2'422.0
Result before extraordinary items -32'118.0 -40'042.0 10'413.0 19'530.0 48'033.0
Extraordinary income 30'445.0 17'134.0 38'988.0 20'812.0 6'548.0
Extraordinary expenses 18'765.0 3'815.0 12'507.0 2'832.0 2'345.0
Extraordinary Result 11'680.0 13'319.0 26'481.0 17'980.0 4'203.0
Result before taxes -20'438.0 -26'723.0 36'894.0 37'510.0 52'236.0
Taxes -2'447.0 -6'713.0 7'427.0 6'914.0 9'251.0
Result before minority interests -17'991.0 -20'010.0 29'467.0 30'596.0 42'985.0
minority interests 0.0 0.0 0.0 0.0 -394.0
Result for the financial year -17'991.0 -20'010.0 29'467.0 30'596.0 43'379.0
Cash flow
Depreciation 66'792.0 59'518.0 62'003.0 58'831.0 58'580.0
Cash flow 48'801.0 39'508.0 91'470.0 89'427.0 101'565.0
Cash flow from operating activities -13'808.0 79'445.0 182'086.0 82'331.0 68'881.0
Investments in tangible fixed assets 24'405.0 220'871.0 266'238.0 55'275.0 54'289.0
Cash flow from investing activities 47'381.0 -196'147.0 -238'591.0 -53'471.0 -96'700.0
Cash flow from financing activities -56'284.0 105'306.0 35'157.0 -2'706.0 16'310.0
Others -80.0 -1'138.0 41.0 3'416.0 1'330.0
Change in liquidity -22'791.0 -12'534.0 -21'307.0 29'570.0 -10'179.0
Liquidity at beginning of the year 54'277.0 66'811.0 88'118.0 58'548.0 68'727.0
Liquidity at end ot the year 31'486.0 54'277.0 66'811.0 88'118.0 58'548.0
Notes
Material costs 268'975.0 215'432.0 204'654.0 271'246.0 294'549.0
Cost of employees 93'165.0 89'320.0 95'671.0 103'331.0 101'211.0
Added value 150'731.0 127'153.0 197'604.0 202'726.0 215'201.0
Working Capital 92'944.0 31'017.0 98'278.0 141'151.0 157'739.0
Sales per Employee 610.7 443.6 497.6 570.9 595.3
Market capitalisation 303'000.0 510'000.0 525'000.0 464'700.0 990'000.0
Gross cost land and buildings 383'583.0 764'342.0 562'080.0 317'828.0 329'549.0
Gross cost other tangible fixed assets 1'092'155.0 779'288.0 906'015.0 898'722.0 877'414.0
Gross cost total 1'475'738.0 1'543'630.0 1'468'095.0 1'216'550.0 1'206'963.0
Insurance value land and buildings 424'929.0 490'002.0 394'507.0 392'584.0 389'974.0
Insurance value other tang. fixed assets 1'331'707.0 1'345'688.0 1'120'232.0 1'094'009.0 1'052'415.0
Insurance value total 1'756'636.0 1'835'690.0 1'514'739.0 1'486'593.0 1'442'389.0
Employees at
year end 853 941 968 999 997
Employees inland 631 616 650 700 700
Employees abroad 222 325 318 299 297
Name: CPH
Chemie + Papier Holding AG
City/Country: Perlen/LU,
Switzerland/CH
No. of Owner/-s: 1
Owner: The
company is domestic owned.
Class: 100%
Name: CPH
Chemie + Papier Holding AG
City/Country: Perlen/LU,
Switzerland/CH
Interest: 100.00%
voting right, 100.00% capital interest
Name: CPH
Chemie + Papier Holding GmbH
City/Country: Lahr,
Germany/DE
Name: CU
Agro AG
City/Country: Uetikon
am See/ZH, Switzerland/CH
Name: CU
Chemie Uetikon AG
City/Country: Uetikon
am See/ZH, Switzerland/CH
Name: CU
Immobilien Lahr AG
City/Country: Uetikon
am See/ZH, Switzerland/CH
Name: Perlen
France Sarl
City/Country: Champigny
sur Marne, France/FR
Name: Perlen
Papier AG
City/Country: Perlen/LU,
Switzerland/CH
Name: Zeochem
AG
City/Country: Uetikon
am See/ZH, Switzerland/CH
Name: Zeowest
AG
City/Country: Uetikon
am See/ZH, Switzerland/CH
Class: 100%
Name: ac-Folien
GmbH
City/Country: Müllheim,
Germany/DE
Interest: 100.00%
voting right, 100.00% capital interest (since 2007)
Class: 100%
Name: Perlen
Converting Llc
City/Country: Whippany/New
Jersey, United States of America/US
Interest: 100.00%
voting right, 100.00% capital interest (since 2005)
Control date Year No. Amount CHF Status
26.07.2011 2011 0
26.07.2011 2010 0
26.07.2011 2009 0
26.07.2011 2008 0
26.07.2011 2007 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 Situation: The financial situation is good.
Payment experiences: Financial obligations are met as appropriate.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.63 |
|
UK Pound |
1 |
Rs.86.18 |
|
Euro |
1 |
Rs.69.75 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.