MIRA
INFORM REPORT
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Report Date : |
04.07.2013 |
IDENTIFICATION DETAILS
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Name : |
DIESING WALZWERKSTECHNIK GMBH |
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Registered Office : |
Spieckern 44, |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
28.12.1994 |
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Com. Reg. No.: |
HRB8524 |
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Legal Form : |
Private Independent Company |
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Line of Business : |
Manufacturer of knifes and cutting blades for machines or for mechanical appliances |
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No. of Employees : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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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 – March 31st 2013
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Germany |
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 |
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 6.5% in 2012. GDP contracted
5.1% in 2009 but grew by 4.2% in 2010, and 3.0% in 2011, before dipping to 0.7%
in 2012 - a reflection of low investment spending due to crisis-induced
uncertainty and the decreased demand for German exports from recession-stricken
periphery countries. Stimulus and stabilization efforts initiated in 2008 and 2009
and tax cuts introduced in Chancellor Angela MERKEL's second term increased
Germany's total budget deficit - including federal, state, and municipal - to
4.1% in 2010, but slower spending and higher tax revenues reduced the deficit
to 0.8% in 2011. In 2012 Germany reached a budget surplus of 0.1%. 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 though
the target was already reached in 2012. By 2014, the federal government wants
to balance its budget. 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 electricity generating capacity and 46% of its base-load electricity
production.
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Source : CIA |
Company name & address
Diesing Walzwerkstechnik GmbH
Spieckern 44
Wuppertal, 42399
Germany
Tel: +49 (0) 2195 932510
Fax: +49 (0) 2195 932512
Operating address
Dahlifnstrabe 35 D 42477 Radevormwald, Germany
Synthesis
Employees: 20
Company Type: Private Independent
Incorporation Date:
28-Dec-1994
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2011
Reporting Currency: Euro
Annual Sales: NA
Total Assets: 5.9
Business Description
Diesing Walzwerkstechnik GmbH is primarily engaged in manufacture of knifes and cutting blades for machines or for mechanical appliances; manufacture of hand tools such as pliers, screwdrivers, etc.; manufacture of saws and saw blades, including circular sawblades and chainsaw blades; manufacture of interchangeable tools for hand tools, whether or not power operated, or for machine tools (drills, punches, dies, milling cutters); manufacture of blacksmiths’ tools: forges, anvils, etc.; and manufacture of vices, clamps.
Industry
Industry Personal and Household Products
ANZSIC 2006: 2299 - Other
Fabricated Metal Product Manufacturing Not Elsewhere Classified
NACE 2002: 2862 - Manufacture
of tools
NAICS 2002: 332212 - Hand and
Edge Tool Manufacturing
UK SIC 2003: 2862 - Manufacture
of tools
UK SIC 2007: 2573 - Manufacture
of tools
US SIC 1987: 3423 - Hand and
Edge Tools, Except Machine Tools and Handsaws
Key Executives
Name Title
Frank Diesing Managing
director
1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7191895
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.770327
Corporate Overview
Location
Spieckern 44
Wuppertal, 42399
Germany
Tel: +49 (0) 2195 932510
Fax: +49 (0) 2195 932512
Sales EUR(mil): NA
Assets EUR(mil): 4.5
Employees: 20
Fiscal Year End: 31-Dec-2011
Industry: Personal
and Household Products
Incorporation Date: 28-Dec-1994
Company Type: Private
Independent
Quoted Status: Not
Quoted
Registered No.(): HRB8524
Parent Registered No.(UK): DEU
Managing director: Frank
Diesing
Industry Codes
ANZSIC 2006 Codes:
2299 - Other Fabricated Metal Product Manufacturing Not Elsewhere
Classified
3339 - Other Hardware Goods Wholesaling
2463 - Machine Tool and Parts Manufacturing
3494 - Other Electrical and Electronic Goods Wholesaling
NACE 2002 Codes:
2862 - Manufacture of tools
5154 - Wholesale of hardware, plumbing and heating equipment and
supplies
5143 - Wholesale of electrical household appliances and radio and
television goods
2951 - Manufacture of machinery for metallurgy
NAICS 2002 Codes:
332212 - Hand and Edge Tool Manufacturing
4236 - Electrical and Electronic Goods Merchant Wholesalers
333516 - Rolling Mill Machinery and Equipment Manufacturing
4237 - Hardware, and Plumbing and Heating Equipment and Supplies
Merchant Wholesalers
US SIC 1987:
3423 - Hand and Edge Tools, Except Machine Tools and Handsaws
5064 - Electrical Appliances, Television and Radio Sets
507 - Hardware, and Plumbing and Heating Equipment
3547 - Rolling Mill Machinery and Equipment
UK SIC 2003:
2862 - Manufacture of tools
5143 - Wholesale of electrical household appliances and radio and
television goods
5154 - Wholesale of hardware, plumbing and heating equipment and
supplies
2951 - Manufacture of machinery for metallurgy
UK SIC 2007:
2573 - Manufacture of tools
4643 - Wholesale of electrical household appliances
2891 - Manufacture of machinery for metallurgy
4674 - Wholesale of hardware, plumbing and heating equipment and
supplies
Business
Description
Diesing
Walzwerkstechnik GmbH is primarily engaged in manufacture of knifes and cutting
blades for machines or for mechanical appliances; manufacture of hand tools
such as pliers, screwdrivers, etc.; manufacture of saws and saw blades, including
circular sawblades and chainsaw blades; manufacture of interchangeable tools
for hand tools, whether or not power operated, or for machine tools (drills,
punches, dies, milling cutters); manufacture of blacksmiths’ tools: forges,
anvils, etc.; and manufacture of vices, clamps.
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Executive report
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Executives |
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Managing director |
Managing Director |
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Annual
Profit & Loss
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate
(Period Average) |
0.71919 |
0.755078 |
0.719047 |
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Consolidated |
No |
No |
No |
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Provisions |
0.6 |
0.2 |
0.2 |
Annual Balance Sheet
Financials in: USD
(mil)
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Issued capital |
0.1 |
0.1 |
0.1 |
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Profits for the year |
4.8 |
3.5 |
2.8 |
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Total stockholders equity |
5.0 |
3.7 |
2.9 |
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Provisions and allowances |
0.6 |
0.2 |
0.2 |
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Total current liabilities |
0.3 |
0.2 |
0.4 |
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Total liabilities (including net worth) |
5.9 |
4.1 |
3.5 |
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Intangibles |
0.0 |
0.0 |
0.0 |
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Total tangible fixed assets |
0.2 |
0.2 |
0.1 |
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Total financial assets |
1.4 |
0.3 |
0.1 |
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Total non-current assets |
1.6 |
0.5 |
0.3 |
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Net stocks and work in progress |
2.4 |
1.3 |
0.9 |
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Total receivables |
1.0 |
1.3 |
1.2 |
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Cash and liquid assets |
0.8 |
1.1 |
1.1 |
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Total current assets |
4.2 |
3.7 |
3.3 |
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Prepaid expenses and deferred costs |
0.0 |
0.0 |
0.0 |
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Total assets |
5.9 |
4.1 |
3.5 |
Annual Ratios
Financials in: USD
(mil)
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31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
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Period Length |
12 Months |
12 Months |
12 Months |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.770327 |
0.745406 |
0.696986 |
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Consolidated |
No |
No |
No |
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Current ratio |
140.05 |
150.07 |
76.77 |
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Acid test ratio |
61.45 |
97.46 |
55.20 |
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Total liabilities
to net worth |
0.01% |
0.01% |
0.01% |
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Net worth to total
assets |
0.08% |
0.09% |
0.08% |
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Current
liabilities to net worth |
0.01% |
0.01% |
0.01% |
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Current
liabilities to stock |
0.01% |
0.02% |
0.05% |
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Fixed assets to
net worth |
0.03% |
0.01% |
0.01% |
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Net worth |
5.0 |
3.7 |
2.9 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.10 |
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UK Pound |
1 |
Rs.91.07 |
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Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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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.