MIRA INFORM REPORT

Report Date :

20.02.2013

IDENTIFICATION DETAILS

Name :	BAUMÜLLER NÜRNBERG GMBH

Registered Office :	Ostendstr. 80-90 D 90482 Nürnberg

Country :	Germany

Financials (as on) :	31.01.2011

Date of Incorporation :	01.08.1927

Com. Reg. No.:	HRB 589

Legal Form :	Private limited company

Line of Business :	Manufacture of electric motors, generators and transformators

No. of Employees :	443

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

Payment Behaviour :	Slow but correct

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

(31.03.2012)

Current Rating

(30.06.2012)

Germany

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 and addresss

BAUMÜLLER NÜRNBERG GMBH

Company Status: active

Ostendstr. 80-90

D 90482 Nürnberg

Telephone:0911/54320

Telefax: 0911/5432130

Homepage: www.baumueller.de

E-mail: mail@baumueller.de

VAT no.: DE133506024

CONCLUSION

Business relations are permissible.

LEGAL FORM Private limited company

Date of foundation: 01.08.1927

Shareholders'

agreement: 19.04.1949

Registered on: 15.07.1949

Commercial Register: Local court 90402 Nürnberg

under: HRB 589

Share capital: EUR 9,000,000.00

Shareholder:

Baumüller Holding GmbH & Co. KG

Ostendstr. 80-90

D 90482 Nürnberg

Legal form: Ltd partnership with priv. ltd.

company as general partner

Total cap. EUR 51,129,188.12

contribution:

Share: EUR 8,938,580.00

Registered on: 28.01.1999

Reg. data: 90402 Nürnberg, HRA 11579

Shareholder:

Günter Baumüller

D 90480 Nürnberg

born: 11.08.1940

Share: EUR 61,420.00

Manager:

Andreas Heinrich Otto Baumüller

D 90480 Nürnberg

born: 30.08.1974

Manager:

Ralf Paul Dietrich

D 90518 Altdorf

born: 21.05.1968

Manager:

Norbert Scholz

D 47877 Willich

born: 20.10.1951

President of the Supervisory Board:

Günter Baumüller

D 90480 Nürnberg

born: 11.08.1940

Profession: graduate engineer

Member of the Supervisory Board:

Dieter Jensen

D 63456 Hanau

Profession: graduate engineer

Representative of the Employees within the Supervisory Board:

Gerhard Horn

D 90402 Nürnberg

Proxy:

Herbert Reiß

D 91413 Neustadt