MIRA INFORM REPORT

 

 

Report Date :

16.04.2013

 

IDENTIFICATION DETAILS

 

Name :

TSR RECYCLING GMBH & CO. KG

 

 

Registered Office :

Hafenstr. 98, D 46242 Bottrop

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2007

 

 

Year of Establishment :

2006

 

 

Com. Reg. No.:

HRB 4396

 

 

Legal Form :

Ltd partnership with priv. ltd. company as general partner

 

 

Line of Business :

Treatment and disposal of non-hazardous waste

 

 

No. of Employees :

2,200 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)

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 

 

TSR Recycling GmbH & Co. KG

 

 

Company address

 

Hafenstr. 98

D 46242 Bottrop

Telephone:02041/70600

Telefax:  02041/7060399

Homepage:        www.tsr.eu

E-mail:              info@tsr.eu

 

 

VAT no      

 

DE814993204

 

 

Synthesis

 

LEGAL FORM               Ltd partnership with priv. ltd. company as general partner

Date of foundation:         2006

Registered on:               16.12.2008

Register of

companies:                   Local court 45879 Gelsenkirchen

under:                                       HRA 4396

Total cap. contribution:   EUR             10,000.00

 

 

Limited partner

 

REMONDIS Services und Beteiligungs GmbH

Brunnenstr. 138

D 44536 Lünen

Legal form: Private limited company

Share capital:     EUR         35,000,000.00

Share:             EUR              6,000.00

Registered on: 02.05.2005

Reg. data: 44135 Dortmund, HRB 18958

 

Limited partner:

                     CRONIMET Holding GmbH

                     Südbeckenstr. 22

                     D 76189 Karlsruhe

                     Legal form: Private limited company

                     Share capital:     EUR          2,000,000.00

                     Share:             EUR              2,000.00

                     Registered on: 03.08.2005

                     Reg. data: 68159 Mannheim, HRB 110997

 

Limited partner:

                     Alfa Acciai S.p.A.

                     Via San Polo, 152

                     I 25134 Brescia

                     Legal form: Other legal form

                     Share:             EUR              2,000.00

 

 

General partner

 

TSR Recycling Verwaltungs GmbH

Hafenstr. 98

D 46242 Bottrop

Legal form: Private limited company

Share capital:     EUR             25,000.00

Registered on: 24.07.2009

Reg. data: 45879 Gelsenkirchen, HRB 10004

 

 

Shareholder

 

REMONDIS Services und Beteiligungs GmbH

Brunnenstr. 138

D 44536 Lünen

Legal form: Private limited company

Share capital:     EUR         35,000,000.00

Share:             EUR             15,000.00

Registered on: 02.05.2005

Reg. data: 44135 Dortmund, HRB 18958

 

Shareholder:

                     CRONIMET Holding GmbH

                     Südbeckenstr. 22

                     D 76189 Karlsruhe

                     Legal form: Private limited company

                     Share capital:     EUR          2,000,000.00

                     Share:             EUR              5,000.00

                     Registered on: 03.08.2005

                     Reg. data: 68159 Mannheim, HRB 110997

Shareholder:

                     Alfa Acciai S.p.A.

                     Via San Polo, 152

                     I 25134 Brescia

                     Legal form: Other legal form

                     Share:             EUR              5,000.00

 

 

Manager

 

Ulrich Theodor Althoff

Im Tann 5

D 82166 Gräfelfing

authorized to jointly represent the company

born: 18.09.1957

Profession: Fully qualified merchant

Marital status: married

 

Manager:

                     Wolfgang Reinhard Kämper

                     Promenade 8

                     D 59821 Arnsberg

                     born: 18.06.1964

                     Profession: Businessman

Manager:

                     Edwin A. Leijnse

                     Tilsiter Str. 13

                     D 40489 Düsseldorf

                     born: 01.09.1967

                     Nationality: Dutch

 

 

Proxy

 

Hans-Walter Henn

Helfensteinerstr. 10

D 73432 Aalen

authorized to jointly represent the company

born: 26.04.1959

                     Profession: Businessman

Proxy:

                     Eckhard Winkler

                     Kurt-Schumacher-Allee 63

                     D 47445 Moers

                     authorized to jointly represent the company

                     born: 03.01.1960

Proxy:

                     Anke Eisermann

                     D 46045 Oberhausen

                     authorized to jointly represent the company

                     born: 09.06.1966

                     Profession: Fully qualified Economist

Proxy:

                     Rainer Franke

                     Försterstr. 6

                     D 57076 Siegen

                     authorized to jointly represent the company

                     born: 25.02.1956

                     Marital status: single

Proxy:

                     Hans-Walter Henn

                     Helfensteinerstr. 10

                     D 73432 Aalen

                     authorized to jointly represent the company

                     born: 26.04.1959

                     Profession: Businessman

Proxy:

                     Christian Herbert Scheil

                     Gartenstr. 23

                     D 18119 Rostock

                     authorized to jointly represent the company

                     born: 06.08.1961

                     Profession: graduate engineer

Proxy:

                     Klaus Neirich

                     D 60311 Frankfurt

                     authorized to jointly represent the company

                     born: 13.11.1957

                     Profession: Businessman

                     Marital status: unknown

Proxy:

                     Ulrich Theodor Althoff

                     Im Tann 5

                     D 82166 Gräfelfing

                     authorized to jointly represent the company

                     born: 18.09.1957

                     Profession: Fully qualified merchant

                     Marital status: married

Proxy:

                     Thomas Vohwinkel

                     D 40668 Krefeld

                     authorized to jointly represent the company

                     born: 01.03.1957

Proxy:

                     Wolfgang Reinhard Kämper

                     Promenade 8

                     D 59821 Arnsberg

                     authorized to jointly represent the company

                     born: 18.06.1964

                     Profession: Businessman

Proxy:

                     Eckhard Winkler

                     Kurt-Schumacher-Allee 63

                     D 47445 Moers

                     authorized to jointly represent the company

                     born: 03.01.1960

Proxy:

                     Roland Günther

                     D 41460 Neuss

                     authorized to jointly represent the company

                     born: 16.07.1955

Proxy:

                     Edwin A. Leijnse

                     Tilsiter Str. 13

                     D 40489 Düsseldorf

                     authorized to jointly represent the company

                     born: 01.09.1967

                     Nationality: Dutch

Proxy:

                     Marina Dankert

                     D 16341 Panketal

                     authorized to jointly represent the company

                     born: 13.03.1959

Proxy:

                     Mona Winkler

                     D 45470 Mülheim

                     authorized to jointly represent the company

                     born: 24.12.1968

Proxy:

                     Anke Eisermann

                     D 46045 Oberhausen

                     authorized to jointly represent the company

                     born: 09.06.1966

                     Profession: Fully qualified Economist

Proxy:

                     Jörg Benn

                     D 46535 Dinslaken

                     authorized to jointly represent the company

                     born: 31.08.1960

Proxy:

                     Sven Schünemann

                     D 18055 Rostock

                     authorized to jointly represent the company

                     born: 19.05.1976

Proxy:

                     Dr. Hans Björn Bösenberg

                     Münsterer Str. 39a

                     D 65779 Kelkheim

                     authorized to jointly represent the company

                     born: 09.09.1979

Proxy:

                     Dr. Hans-Peter Mertens

                     Schwanenbuschstr. 169

                     D 45138 Essen

                     authorized to jointly represent the company

                     born: 19.03.1967

Proxy:

                     Timo Schandin

                     Drosselweg 8

                     D 63811 Stockstadt

                     authorized to jointly represent the company

                     born: 24.01.1976

Proxy:

                     Achim Klaas

                     Hermann-Spillecke-Str. 15

                     D 47259 Duisburg

                     authorized to jointly represent the company

                     born: 21.12.1957

Proxy:

                     Attila Baloglu

                     D 46509 Xanten

                     authorized to jointly represent the company

                     born: 03.09.1965

Proxy:

                     Hans-Jürgen Schilling

                     D 47051 Duisburg

                     authorized to jointly represent the company

                     born: 26.04.1954

 

 

COMPANY HISTORY

 

25.08.2006 - 15.12.2008  TSR Holding GmbH & Co. KG

                         Karl-Hohmann-Str. 15-17

                         D 40599 Düsseldorf

                         Ltd partnership with priv. ltd. company

                         as general partner

 

 

BUSINESS ACTIVITIES

 

Sectors

38210   Treatment and disposal of non-hazardous waste

 

 

BRANCHES AND FACTORIES

 

Branch:

                     TSR Recycling GmbH & Co. KG

                     Am Güterbahnhof 53

                     D 35683 Dillenburg

                     TEL.: 02771/8750

Branch:

                     TSR Recycling GmbH & Co. KG

                     Waterbergstr. 6

                     D 28237 Bremen

                     TEL.: 0421/64903-0

                     FAX.: 0421/64903-38

Branch:

                     TSR Recycling GmbH & Co. KG

                     Lagerstr. 25

                     D 68169 Mannheim

                     TEL.: 0621/32200

Branch:

                     TSR Recycling GmbH & Co. KG

                     Hünefeldstr. 1

                     D 06847 Dessau-Roßlau

                     TEL.: 0340/517488

Branch:

                     TSR Recycling GmbH & Co. KG

                     Schürmannstr. 2b

                     D 46242 Bottrop

Branch:

                     TSR Recycling GmbH & Co. KG

                     Hafenrandstr. 11

                     D 63741 Aschaffenburg

                     TEL.: 06021/8477-0

                     FAX.: 06021/80544

Branch:

                     TSR Recycling GmbH & Co. KG

                     Westhafenstr. 1

                     D 13353 Berlin

                     TEL.: 030/3988550

                     FAX.: 030/39885518

Branch:

                     TSR Recycling GmbH & Co. KG

                     Am Zweigkanal 19a

                     D 39126 Magdeburg

                     TEL.: 0391/509070

                     FAX.: 0391/5090747

Branch:

                     TSR Recycling GmbH & Co. KG

                     Steineshoffweg 21

                     D 45479 Mülheim

                     TEL.: 0208/999540

Branch:

                     TSR Recycling GmbH & Co. KG

                     Otto-Röhm-Str. 57

                     D 64293 Darmstadt

                     TEL.: 06151/9804-0

Branch:

                     TSR Recycling GmbH & Co. KG

                     Breslauer Str. 7

                     D 20457 Hamburg

                     TEL.: 040/7404070

                     FAX.: 040/74040740

Branch:

                     TSR Recycling GmbH & Co. KG

                     Hovestr. 30

                     D 20539 Hamburg

                     TEL.: 040/21111390

                     FAX.: 040/21111399

Branch:

                     TSR Recycling GmbH & Co. KG

                     Hans-Böckler-Str. 16

                     D 56070 Koblenz

                     TEL.: 0261/988980

Branch:

                     TSR Recycling GmbH & Co. KG

                     Bahnhofstr. 12a

                     D 38822 Schachdorf Ströbeck

                     TEL.: 039427/314

Branch:

                     TSR Recycling GmbH & Co. KG

                     Benzstr. 2

                     D 74076 Heilbronn

Branch:

                     TSR Recycling GmbH & Co. KG

                     Beim Alten Hebeturm 24

                     D 47119 Duisburg

                     TEL.: 0203/93545951

Branch:

                     TSR Recycling GmbH & Co. KG

                     Berthelsdorfer Str. 15

                     D 09618 Brand-Erbisdorf

                     TEL.: 037322/52820

Branch:

                     TSR Recycling GmbH & Co. KG

                     Woltersdorfer Str. 40

                     D 14770 Brandenburg

Branch:

                     TSR Recycling GmbH & Co. KG

                     Uhlfelderstr. 4

                     D 60314 Frankfurt

Branch:

                     TSR Recycling GmbH & Co. KG

                     Lahnuferstr. 13-21

                     D 57334 Bad Laasphe

Branch:

                     TSR Recycling GmbH & Co. KG

                     August-Conrad-Str. 43

                     D 16761 Hennigsdorf

                     TEL.: 03302/7912020

                     FAX.: 03302/79120285

 

 

PARTICIPATIONS

 

Shareholder:

                     TSR-KAT GmbH

                     Ochsenburger Str. 19

                     D 75056 Sulzfeld

                     Legal form: Private limited company

                     Company Status: active

                     Share capital:     EUR            468,750.00

                     Share:             EUR            300,000.00

                     Reg. data:  27.06.2011

                                 Local court 68159 Mannheim

                                 HRB 712172

Shareholder:

                     AAA Stahl Holding GmbH

                     Bahnhofstr. 106

                     D 82166 Gräfelfing

                     Legal form: Private limited company

                     Company Status: active

                     Share capital:     EUR             61,355.03

                     Share:             EUR             43,971.10

                     Reg. data:  17.08.1998

                                 Local court 80797 München

                                 HRB 121627

Shareholder:

                     GMR GmbH Geraer Metallrecycling

                     Franzosenweg 3

                     D 07546 Gera

                     Legal form: Private limited company

                     Company Status: active

                     Share capital:     EUR             50,000.00

                     Share:             EUR             50,000.00

                     Reg. data:  29.06.2000

                                 Local court 07745 Jena

                                 HRB 208316

Shareholder:

                     Metallrecycling Veit GmbH

                     Im Gewerbepark 1

                     D 07646 Bollberg

                     Legal form: Private limited company

                     Company Status: active

                     Share capital:     EUR            100,000.00

                     Share:             EUR             50,000.00

                     Reg. data:  29.06.2004

                                 Local court 07745 Jena

                                 HRB 210143

 

 

FINANCIAL INFORMATION

 

Payment experience:     within agreed terms

Negative information:      We have no negative information at hand.

Balance sheet year:       2007

 

 

REAL ESTATE

 

Type of ownership:         Tenant

Address                        Hafenstr. 98

                                    D 46242 Bottrop

 

Real Estate of:               TSR Recycling Verwaltungs GmbH

Type of ownership:         Tenant

Address                        Hafenstr. 98

                                    D 46242 Bottrop

 

Land register documents were not available.

 

 

BANKERS

 

Principal bank

DEUTSCHE BANK, DÜSSELDORF

Sort. code: 30070010, BIC: DEUTDEDDXXX

 

Further bank

COMMERZBANK, DUISBURG

Sort. code: 35040038, BIC: COBADEFF350

 

 

FINANCIAL FIGURES

 

Turnover:            2011               EUR      3,300,000,000.00

Employees:                                                  2,200

 

 

BALANCE SHEETS

 

Balance sheet ratios 01.01.2007 - 31.12.2007

Equity ratio [%]:                 25.50

Liquidity ratio:                   0.70

Return on total capital [%]:       4.53

 

Equity ratio

The equity ratio indicates the portion of the equity as compared to the total capital. The higher the equity ratio, the better the economic stability (solvency) and thus the financial autonomy of a company.

 

Liquidity ratio

The liquidity ratio shows the proportion between adjusted receivables and net liabilities. The higher the ratio, the lower the company's financial dependancy from external creditors.

 

Return on total capital

The return on total capital shows the efficiency and return on the total capital employed in the company. The higher the return on total capital, the more economically does the company work with the invested capital.

 

Type of balance sheet:               Company balance sheet

 

Financial year:      01.01.2007 - 31.12.2007

 

ASSETS                                  EUR        353,920,765.02

 Fixed assets                           EUR        119,219,354.44

  Intangible assets                     EUR            346,753.00

   Concessions, licences, rights        EUR            220,490.00

   Goodwill                             EUR            126,263.00

  Tangible assets                       EUR         76,374,130.64

   Land / similar rights                EUR         37,665,978.15

   Plant / machinery                    EUR         23,855,135.59

   Other tangible assets / fixtures and

   fittings                             EUR          9,757,637.00

   Advance payments made / construction

   in progress                          EUR          5,095,379.90

  Financial assets                      EUR         42,498,470.80

   Shares in participations /

   subsidiaries and the like            EUR         42,498,470.80

    Shares in related companies         EUR          4,398,546.84

    Shares in investee companies        EUR         38,099,923.96

 Current assets                         EUR        234,319,885.66

  Stocks                                EUR         84,515,441.43

   Raw materials, consumables and

   supplies                             EUR            555,024.69

   Finished goods / work in progress    EUR         82,020,770.17

   Advance payments made                EUR          3,309,411.90

   Minus received advance payments for

   orders / installments for stocks     EUR         -1,369,765.33

  Accounts receivable                   EUR        148,668,397.38

   Amounts due from shareholders        EUR          3,944,410.82

   Trade debtors                        EUR        119,322,321.02

   Amounts due from related companies   EUR         10,825,536.14

   Amounts due from investee companies  EUR            660,631.86

   Other debtors and assets             EUR         13,915,497.54

  Liquid means                          EUR          1,136,046.85

 Remaining other assets                 EUR            381,524.92

  Accruals (assets)                     EUR            381,524.92

 

LIABILITIES                             EUR        353,920,765.02

 Shareholders' equity                   EUR         93,255,937.51

  Capital                               EUR         93,255,937.51

   Limited partner's capital / capital

   of partially liable partner (LP)     EUR         93,255,937.51

 Items between shareholders' equity and

 debt capital                           EUR          5,623,756.00

  Allowances / bonuses                  EUR          5,623,756.00

 Provisions                             EUR         47,733,513.49

  Pension provisions and comparable

  provisions                            EUR         25,575,416.00

  Provisions for taxes                  EUR          5,950,996.03

  Other / unspecified provisions        EUR         16,207,101.46

 Liabilities                            EUR        207,307,558.02

  Financial debts                       EUR        122,404,096.54

   Liabilities due to banks             EUR        122,404,096.54

  Other liabilities                     EUR         84,903,461.48

   Trade creditors (for IAS incl. bills

   of exchange)                         EUR         80,402,849.85

   Liabililties due to related companiesEUR          2,709,580.78

   Liabilities due to investee companiesEUR            996,602.22

   Unspecified other liabilities        EUR            794,428.63

    thereof liabilities from tax /

    financial authorities               EUR            362,279.20

    thereof liabilities from social

    security                            EUR                  0.00

 

PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

Code (HGB)

 Sales                                  EUR      1,654,614,007.61

 Other operating income                 EUR         11,574,403.16

 Cost of materials                      EUR      1,528,568,885.69

  Raw materials and supplies, purchased

  goods                                 EUR      1,474,422,809.67

  Purchased services                    EUR         54,146,076.02

 Gross result (+/-)                     EUR        137,619,525.08

 Staff expenses                         EUR         46,769,626.10

  Wages and salaries                    EUR         32,101,570.52

  Social security contributions and

  expenses for pension plans and

  benefits                              EUR         14,668,055.58

 Total depreciation                     EUR         11,621,275.35

  Depreciation on tangible / intangible

  asssets (incl. start-up and exp. of

  bus.                                  EUR         11,621,275.35

 Other operating expenses               EUR         51,004,432.74

 Operating result from continuing

 operations                             EUR         28,224,190.89

 Result from participating interests

 (+/-)                                  EUR            388,974.00

  Expenses / income from participations EUR            388,974.00

   Income from related companies        EUR            388,974.00

 Interest result (+/-)                  EUR         -5,538,785.02

  Interest and similar income           EUR            300,020.49

  Interest and similar expenses         EUR          5,838,805.51

 Financial result (+/-)                 EUR         -5,149,811.02

 Result from ordinary operations (+/-)  EUR         23,074,379.87

 Income tax / refund of income tax (+/-)EUR         -4,698,604.08

 Other taxes / refund of taxes          EUR         -2,546,541.58

 Tax (+/-)                              EUR         -7,245,145.66

 Annual surplus / annual deficit        EUR         15,829,234.21

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.62

UK Pound

1

Rs.83.69

Euro

1

Rs.71.41

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

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.