Company name and address

Corporate Overview

Financial Data

Corporate Structure News

Executives Report

Directors and Shareholders Report

Annual Profit & Loss

MIRA INFORM REPORT

Report Date :

24.09.2012

IDENTIFICATION DETAILS

Name :	METTLER-TOLEDO SAFELINE X-RAY LTD.
Registered Office :	Greenfield Royston, SG8 5HN

Country :	United Kingdom

Financials (as on) :	31.12.2010

Date of Incorporation :	03.10.2000

Com. Reg. No.:	04082763

Legal Form :	Private Subsidiary

Line of Business :	Manufacture of other special purpose machinery not elsewhere classified

No. of Employees :	53

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Unknown
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 30^th, 2012

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

United Kingdom

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

UNITED KINGDOM - ECONOMIC OVERVIEW

The UK, a leading trading power and financial center, is the third largest economy in Europe after Germany and France. Over the past two decades, the government has greatly reduced public ownership and contained the growth of social welfare programs. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining and the UK became a net importer of energy in 2005. Services, particularly banking, insurance, and business services, account by far for the largest proportion of GDP while industry continues to decline in importance. After emerging from recession in 1992, Britain's economy enjoyed the longest period of expansion on record during which time growth outpaced most of Western Europe. In 2008, however, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. Sharply declining home prices, high consumer debt, and the global economic slowdown compounded Britain's economic problems, pushing the economy into recession in the latter half of 2008 and prompting the then BROWN (Labour) government to implement a number of measures to stimulate the economy and stabilize the financial markets; these include nationalizing parts of the banking system, temporarily cutting taxes, suspending public sector borrowing rules, and moving forward public spending on capital projects. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated a five-year austerity program, which aims to lower London's budget deficit from over 10% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 because of slower-than-expected economic growth and the impact of the euro-zone debt crisis. The CAMERON government raised the value added tax from 17.5% to 20% in 2011. It has pledged to reduce the corporation tax rate to 23% by 2015. The Bank of England (BoE) implemented an asset purchase program of up to £325 billion (approximately $525 billion) as of February 2011. During times of economic crisis, the BoE coordinates interest rate moves with the European Central Bank, but Britain remains outside the European Economic and Monetary Union (EMU).

Source : CIA

Top of Form

Bottom of Form

Top of Form

Mettler-Toledo Safeline X-Ray Ltd.

Greenfield


Royston, SG8 5HN
United Kingdom
(Trading Address) Registered Address


Tel:	01763 257900
Fax:	01763 257909

www.safelinexray.org

Employees:	53
Company Type:	Private Subsidiary
Corporate Family:	5 Companies
Ultimate Parent:	Mettler-Toledo Bv

Quoted Status:	Non-quoted Company
Incorporation Date:	03-Oct-2000
Auditor:	PricewaterhouseCoopers LLP

Financials in:	USD (mil)

Fiscal Year End:	31-Dec-2010
Reporting Currency:	British Pound Sterling
Annual Sales:	22.7 ¹
Net Income:	3.0
Total Assets:	16.8

Business Description

Design, manufacture and support of x-ray inspection equipment supplied to international markets and the company assesses that it is achieving an increasing share of the global market.

Industry

Industry	Miscellaneous Capital Goods
ANZSIC 2006:	2499 - Other Machinery and Equipment Manufacturing Not Elsewhere Classified
NACE 2002:	2956 - Manufacture of other special purpose machinery not elsewhere classified
NAICS 2002:	333298 - All Other Industrial Machinery Manufacturing
UK SIC 2003:	2956 - Manufacture of other special purpose machinery not elsewhere classified
UK SIC 2007:	2899 - Manufacture of other special-purpose machinery n.e.c.
US SIC 1987:	3569 - General Industrial Machinery and Equipment, Not Elsewhere Classified

Key Executives

Name	Title
David Edward Wood	Secretary
Nigel John King	Director
Kristian Laskey	Director

Financial Summary

FYE: 31-Dec-2010

USD (mil)

Key Figures
Current Assets	8.76
Fixed Assets	8.01
Total Liabilities	4.79
Net Worth	7.34

Key Ratios
Current Ratio	1.83
Acid Test	1.40

1 - Profit & Loss Item Exchange Rate: USD 1 = GBP 0.6475734
2 - Balance Sheet Item Exchange Rate: USD 1 = GBP 0.6387123

Location
Greenfield
Royston, SG8 5HN
Hertfordshire County
United Kingdom

Tel:	01763 257900
Fax:	01763 257909

www.safelinexray.org

Sales GBP(mil):	14.7
Assets GBP(mil):	10.7
Employees:	53
Fiscal Year End:	31-Dec-2010


Industry:	Miscellaneous Capital Goods

Registered Address:
Unit 1 Greenfield
Royston, SG8 5HN
United Kingdom

Incorporation Date:	03-Oct-2000
Company Type:	Private Subsidiary
Quoted Status:	Not Quoted
Registered No.(UK):	04082763

Contents

Industry Codes

Business Description

Financial Data

Key Corporate Relationships

Industry Codes

ANZSIC 2006 Codes:
2499	-	Other Machinery and Equipment Manufacturing Not Elsewhere Classified

NACE 2002 Codes:
2956	-	Manufacture of other special purpose machinery not elsewhere classified

NAICS 2002 Codes:
333298	-	All Other Industrial Machinery Manufacturing

US SIC 1987:
3569	-	General Industrial Machinery and Equipment, Not Elsewhere Classified

UK SIC 2003:
2956	-	Manufacture of other special purpose machinery not elsewhere classified

UK SIC 2007:
2899	-	Manufacture of other special-purpose machinery n.e.c.

Business Description

Design, manufacture and support of x-ray inspection equipment supplied to international markets and the company assesses that it is achieving an increasing share of the global market.

More Business Descriptions

X-Ray Facilities and Services

Financials in:	GBP(mil)

Revenue:	14.7
Net Income:	1.9
Assets:	10.7
Current Assets:	5.6
Fixed Assets:	5.1
Long Term Debt:	0.0
Total Liabilities:	3.1
Issued Capital:	5.9
Working Capital:	2.5
Net Worth:	4.7

Date of Financial Data:	31-Dec-2010

1 Year Growth

13.9%

2.5%

Key Corporate Relationships

Auditor:	PricewaterhouseCoopers LLP

Auditor:	PricewaterhouseCoopers LLP

	GBP(mil)
Audit Fees:	0.0
Non Audit Fees:	0.0
Audit Fiscal Year:	12-31-2010

Mettler-Toledo Safeline X-Ray Ltd.
Total Corporate Family Members: 5

Company Name	Company Type	Location	Country	Industry	Sales (USD mil)	Employees
Mettler-Toledo Bv	Parent
Mettler-Toledo UK Holdings Ltd.	Subsidiary	Salford	United Kingdom	Business Services
Mettler-Toledo Safeline Ltd.	Subsidiary	Salford	United Kingdom	Miscellaneous Fabricated Products	57.3	222
Mettler-Toledo Safeline X-Ray Ltd.	Subsidiary	Royston	United Kingdom	Miscellaneous Capital Goods	22.7	53
Ohaus (UK) Ltd.	Subsidiary	Leicester	United Kingdom	Miscellaneous Capital Goods	0.0

Board of Directors

Name

Title

Function

Nigel John King

Director

Director/Board Member

Age: 62

Kristian Laskey

Director

Director/Board Member

Age: 43

Executives

Name

Title

Function

D. Richardson

Managing Director

David Edward Wood

Secretary

Company Secretary

Annual Return Date: 03 Oct 2011
Total Issued Capital (GBP 000): 5,900

Individual Directors

Name	Status	DOB	Filed Address	Appointment Date	Resignation Date	Summary of Directorships
Nigel John King	Current	13 Aug 1950	Mettler-Toledo Safeline X-Ray Ltd Greenfield, Royston Business Park, Royston, Hertfordshire SG8 5HN	04 Dec 2000	NA	Current:7 Previous:2 Disqualifications:0
Kristian Laskey	Current	17 Mar 1969	Mettler-Toledo Safeline X-Ray Ltd Greenfield, Royston Business Park, Royston, Hertfordshire SG8 5HN	09 Jan 2009	NA	Current:1 Previous:0 Disqualifications:0
Stephen David Allen	Previous	04 Dec 1957	Unit 1 Atu-1 University Of Warwick Science Park, Sir William Lyons Road, Coventry, West Midlands CV4 7EZ	04 Nov 2003	25 Feb 2005	Current:1 Previous:5 Disqualifications:0
Nicholas John Bell	Previous	04 Mar 1951	29 Daniell Way, Chester, Cheshire CH3 5XH	01 Nov 2000	30 Oct 2007	Current:1 Previous:15 Disqualifications:0
Richard John Parmee	Previous	11 Nov 1951	New Cambridge House Bassingbourn Road, Litlington, Royston, Hertfordshire SG8 0SS	04 Dec 2000	31 Oct 2003	Current:7 Previous:2 Disqualifications:0
David Conway Richardson	Previous	09 Feb 1966	38 Cambrian Avenue, Vicars Cross, Chester, Cheshire CH3 5LG	27 Sep 2004	31 Aug 2008	Current:0 Previous:2 Disqualifications:0
Julian Boyd Jackson	Previous	20 Apr 1951	Mason Hill, Sharoe Green Lane Fulwood, Preston, Lancashire PR2 8EJ	01 Nov 2000	30 Jun 2008	Current:0 Previous:1 Disqualifications:0
Alan Purvis	Previous	31 Jul 1959	Whitehorse Cottage Bury Common, Bury, Pulborough, West Sussex RH20 1NS	30 Jun 2008	23 Apr 2009	Current:0 Previous:1 Disqualifications:0
Neil Robert Mayo	Previous	10 Oct 1965	Two Trees 5 The Spinney, Mansfield Rd, Newark, Nottinghamshire NG22 8JH	01 Oct 2004	15 Nov 2004	Current:1 Previous:5 Disqualifications:0

Corporate Directors

Company Name	Status	Registered Address	Appointment Date	Resignation Date
Cs Directors Limited	Previous	4Th Floor Brook House, 77 Fountain Street, Manchester, Greater Manchester M2 2EE	NA	01 Nov 2000

Individual Secretaries

Name	Status	DOB	Filed Address	Appointment Date	Resignation Date	Summary of Directorships
David Edward Wood	Current	NA	Unit 1 Greenfield, Royston, Hertfordshire SG8 5HN	30 Nov 2011	NA	Current:1 Previous:0 Disqualifications:0
Nicholas John Bell	Previous	04 Mar 1951	29 Daniell Way, Chester, Cheshire CH3 5XH	01 Nov 2000	30 Oct 2007	Current:1 Previous:15 Disqualifications:0
Paul Colin Baines	Previous	26 Jan 1962	Olympic Court, Montford Street, Salford, Greater Manchester M50 2XD	30 Oct 2007	30 Nov 2011	Current:4 Previous:1 Disqualifications:0

Corporate Secretaries

Company Name	Status	Registered Address	Appointment Date	Resignation Date
Cs Secretaries Limited	Previous	4Th Floor Brook House, 77 Fountain Street, Manchester, Greater Manchester M2 2EE	NA	01 Nov 2000

Corporate Shareholders

Company Name	Registration Number	Share Details (As Reported)	Share Type	# of Shares	Share Price (GBP)	Share Value (GBP)	% of Total Shares
Mettler Toledo UK Holdings Limited	04600498	5900100 Ordinary GBP 1.00	Ordinary	5,900,100	1.00	5,900,100.00	100.00

Individual Shareholders

There are no individual shareholders for this company.

Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)

Financial Glossary

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Period Length	52 Weeks	52 Weeks	52 Weeks	52 Weeks	52 Weeks
Filed Currency	GBP	GBP	GBP	GBP	GBP
Exchange Rate (Period Average)	0.647573	0.641508	0.545576	0.499878	0.543438
Consolidated	No	No	No	No	No

Turnover (UK)	0.9	1.2	1.4	1.2	0.8
Turnover (Exports)	21.8	18.9	17.5	13.4	10.0
Total Turnover	22.7	20.1	19.0	14.6	10.9
Cost of Sales	11.3	8.9	9.5	8.2	6.6
Gross Profit	11.4	11.2	9.5	6.4	4.3
Depreciation	0.2	0.2	0.2	0.2	0.1
Other Expenses	7.0	6.5	5.6	6.1	4.4
Operating Profit	4.4	4.7	3.9	0.3	-0.1
Other Income	0.0	0.0	0.0	0.0	0.0
Interest Paid	0.0	0.1	0.4	0.5	0.4
Exceptional Income	0.0	0.0	0.0	0.0	0.0
Discontinued Operations	0.0	0.0	0.0	0.0	0.0
Profit Before Taxes	4.4	4.6	3.4	-0.2	-0.5
Tax Payable / Credit	1.4	1.4	1.1	0.1	0.0
Extraordinary Items/Debits	0.0	0.0	0.0	0.0	0.0
Dividends	0.0	0.0	0.0	0.0	0.0
Profit After Taxes	3.0	3.2	2.3	-0.3	-0.5
Minority Interests (Profit & Loss)	0.0	0.0	0.0	0.0	0.0
Audit Fees	0.0	0.0	0.0	0.0	0.0
Non Audit Fees	0.0	-	-	-	0.0
Number of Employees	53	48	44	37	29
Wages	3.7	3.3	3.5	3.2	2.3
Social Security Costs	0.4	0.3	0.4	0.3	0.2
Pensions	0.0	0.0	0.0	0.0	0.0
Other Pension Costs	0.2	0.2	0.2	0.2	0.1
Employees Remuneration	4.3	3.8	4.0	3.7	2.7
Directors Emoluments	0.3	0.3	0.5	0.6	0.5
Other Costs	0.0	0.0	0.0	0.0	0.0
Directors Remuneration	0.3	0.3	0.5	0.6	0.5
Highest Paid Director	0.2	-	-	0.4	0.3

Annual Balance Sheet

Financials in: USD (mil)

Financial Glossary

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Filed Currency	GBP	GBP	GBP	GBP	GBP
Exchange Rate	0.638712	0.619253	0.695531	0.502361	0.510947
Consolidated	No	No	No	No	No

Land & Buildings	2.8	2.9	2.6	2.5	2.5
Fixtures & Fittings	0.3	0.7	0.6	0.7	0.4
Plant & Vehicles	0.4	0.0	0.0	0.0	0.0
Total Tangible Fixed Assets	3.4	3.6	3.2	3.3	3.0
Intangible Assets	4.6	5.2	5.0	7.6	8.0
Investments	0.0	0.0	0.0	0.0	0.0
Total Fixed Assets	8.0	8.8	8.3	10.8	11.0
Stocks	2.0	1.5	2.0	2.7	1.8
Work in Progress	0.1	0.2	0.3	0.7	0.1
Total Stocks Work In Progress	2.1	1.7	2.3	3.5	2.0
Trade Debtors	0.7	0.5	0.4	0.3	0.7
Inter-Company Debtors	3.5	2.9	3.4	1.3	1.3
Other Debtors	0.4	0.2	0.3	0.5	0.3
Total Debtors	4.5	3.6	4.1	2.2	2.3
Cash and Equivalents	2.2	0.1	0.1	0.0	0.0
Other Current Assets	0.0	0.0	0.0	0.0	0.0
Total Current Assets	8.8	5.5	6.6	5.6	4.3
Total Assets	16.8	14.3	14.8	16.5	15.3
Trade Creditors	2.6	2.1	1.8	2.3	1.6
Bank Overdraft	0.0	0.0	1.7	2.8	2.8
Inter-Company Creditors	0.2	0.4	0.6	0.3	0.3
Director Loans (Current Liability)	0.0	0.0	0.0	0.0	0.0
Hire Purchase (Current Liability)	0.0	0.0	0.0	0.0	0.0
Finance Lease (Current Liability)	0.0	0.0	0.0	0.0	0.0
Total Finance Lease/Hire Purchase (Current Liability)	0.0	0.0	0.0	0.0	0.0
Total Short Term Loans	0.0	0.0	0.0	0.0	0.0
Accruals/Deferred Income (Current Liability)	1.2	1.0	1.0	0.8	0.3
Social Security/VAT	0.2	0.1	0.1	0.2	0.2
Corporation Tax	0.6	0.7	0.5	0.0	0.0
Dividends (Current Liability)	0.0	0.0	0.0	0.0	0.0
Other Current Liabilities	0.0	0.0	0.0	0.0	0.0
Total Current Liabilities	4.8	4.2	5.7	6.4	5.1
Group Loans (Long Term Liability)	0.0	0.0	3.2	4.4	4.3
Director Loans (Long Term Liability)	0.0	0.0	0.0	0.0	0.0
Hire Purchase (Long Term Liability)	0.0	0.0	0.0	0.0	0.0
Leasing (Long Term Liability)	0.0	0.0	0.0	0.0	0.0
Total Hire Purchase Loans (Long Term Liability)	0.0	0.0	0.0	0.0	0.0
Other Long Term Loans	0.0	0.0	0.0	0.0	0.0
Accruals/Deferred Income (Long Term Liability)	0.0	0.0	0.0	0.0	0.0
Other Long Term Liabilities	0.0	0.0	0.0	0.0	0.0
Total Long Term Liabilities	0.0	0.0	3.2	4.4	4.3
Deferred Taxation	0.1	0.1	-	0.0	0.0
Other Provisions	0.0	0.0	0.0	0.0	0.0
Total Provisions	0.1	0.1	0.0	0.0	0.0
Issued Capital	9.2	9.5	8.5	11.7	11.5
Share Premium Accounts	0.0	0.0	0.0	0.0	0.0
Revaluation Reserve	0.0	0.0	0.0	0.0	0.0
Retained Earnings	2.7	0.4	-2.6	-6.1	-5.6
Other Reserves	0.0	0.0	0.0	0.0	0.0
Minority Interests (Balance Sheet)	0.0	0.0	0.0	0.0	0.0
Total Shareholders Funds	11.9	10.0	5.9	5.7	5.9
Net Worth	7.3	4.8	0.9	-1.9	-2.1

Annual Cash Flows

Financials in: USD (mil)

Financial Glossary

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Period Length	52 Weeks	52 Weeks	52 Weeks	52 Weeks	52 Weeks
Filed Currency	GBP	GBP	GBP	GBP	GBP
Exchange Rate (Period Average)	0.647573	0.641508	0.545576	0.499878	0.543438
Consolidated	No	No	No	No	No

Annual Ratios

Financials in: USD (mil)

	31-Dec-2010	31-Dec-2009	31-Dec-2008	31-Dec-2007	31-Dec-2006
Period Length	52 Weeks	52 Weeks	52 Weeks	52 Weeks	52 Weeks
Filed Currency	GBP	GBP	GBP	GBP	GBP
Exchange Rate	0.638712	0.619253	0.695531	0.502361	0.510947
Consolidated	No	No	No	No	No

Current Ratio	1.83	1.29	1.15	0.88	0.86
Liquidity Ratio	1.40	0.88	0.74	0.34	0.47
Stock Turnover	11.14	12.00	6.38	4.20	5.86
Credit Period (Days)	10.89	8.54	10.48	7.15	22.73
Working Capital by Sales	17.25%	5.83%	5.86%	-5.10%	-6.26%
Trade Credit by Debtors	3.84	4.26	4.17	8.06	2.21
Return on Capital	37.38%	47.66%	29.53%	-1.95%	-4.81%
Return on Assets	26.71%	33.49%	18.20%	-1.19%	-3.22%
Profit Margin	19.47%	22.93%	18.12%	-1.35%	-4.27%
Return on Shareholders Funds	37.58%	47.91%	45.68%	-3.46%	-8.37%
Borrowing Ratio	2.40%	8.12%	644.26%	-394.18%	-349.49%
Equity Gearing	71.09%	69.91%	39.83%	34.45%	38.52%
Debt Gearing	-	-	374.95%	-233.07%	-205.23%
Interest Coverage	-	41.57	7.97	-0.41	-1.32
Sales by Tangible Assets	6.70	5.77	4.64	4.46	3.90
Average Remuneration per Employee	0.1	0.1	0.1	0.1	0.1
Profit per Employee	0.1	0.1	0.1	0.0	0.0
Sales per Employee	0.4	0.4	0.3	0.4	0.4
Capital Employed per Employee	0.2	0.2	0.2	0.3	0.4
Tangible Assets per Employee	0.1	0.1	0.1	0.1	0.1
Total Assets per Employee	0.3	0.3	0.3	0.4	0.5
Employee Remuneration by Sales	18.74%	18.96%	21.09%	25.38%	24.44%
Creditor Days (Cost of Sales Based)	84.13	82.37	87.45	102.74	83.34
Creditor Days (Sales Based)	41.78	36.42	43.69	57.64	50.29

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.90
UK Pound	1	Rs.87.60
Euro	1	Rs.70.01

INFORMATION DETAILS

Report Prepared by :

PRL

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.