MIRA INFORM REPORT

 

 

Report Date :

23.03.2013

 

IDENTIFICATION DETAILS

 

Name :

THIES GMBH & CO. KG

 

 

Registered Office :

Borkener Str. 155, D 48653 Coesfeld

 

 

Country :

Germany

 

 

Year of Establishments:

1892

 

 

Com. Reg. No.:

HRA 1069

 

 

Legal Form :

Ltd partnership with priv. ltd. company as general partner

 

 

Line of Business :

Manufacturer of machinery for textile, apparel and leather production

 

 

No. of Employees :

400

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

 

 

Payment Behaviour :

Regular 

 

 

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  

 

Thies GmbH & Co. KG

 

Company address

 

Borkener Str. 155

D 48653 Coesfeld

Telephone:        02541/7330

Telefax:            02541/733299

Homepage:       www.thiestextilmaschinen.de

E-mail:              info@thiestextilmaschinen.de

 

 

VAT no.

 

DE124464179

 

 

Company Status

 

active

 

 

CONCLUSION

 

Business relations are permissible.

 

 

Synthesis

 

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

Date of foundation:       1892

Begin of business

activities:                                  1892

Registered on:              01.10.1922

Register of

companies:                   Local court 48653 Coesfeld

under:                                       HRA 1069

Total cap. contribution:   EUR          2,556,459.40

 

Limited partner

 

Erich Thies

Auf dem Brink 56

D 48712 Gescher

born: 08.08.1953

Share:             EUR          1,278,229.70

 

Limited partner:

                      Klaus Thies

                      Bergstr. 12

                      D 48653 Coesfeld

                      born: 02.03.1958 in Coesfeld

                      Share:             EUR          1,278,229.70

 

 

General partner

 

Thies Verwaltungs-GmbH

Borkener Str. 155

D 48653 Coesfeld

Legal form: Private limited company

Share capital:     EUR         12,800,000.00

Registered on: 07.08.1957

Reg. data: 48653 Coesfeld, HRB 1010

 

 

Shareholder

 

Thies GmbH & Co. KG

Borkener Str. 155

D 48653 Coesfeld

Legal form: Ltd partnership with priv. ltd.

company as general partner

Total cap.         EUR          2,556,459.40

contribution:

Share:             EUR         12,800,000.00

Registered on: 01.10.1922

Reg. data: 48653 Coesfeld, HRA 1069

 

 

Manager

 

Erich Thies

Auf dem Brink 56

D 48712 Gescher

having sole power of representation

born: 08.08.1953

Profession: Businessman

 

Manager:

                      Klaus Thies

                      Bergstr. 12

                      D 48653 Coesfeld

                      having sole power of representation

                      born: 02.03.1958 in Coesfeld

                      Profession: Management expert

                      Marital status: married

 Manager:

                      Jürgen Brockmann

                      Forellenweg 24

                      D 48653 Coesfeld

                      authorized to jointly represent the company

                      born: 11.03.1953

                      Profession: Businessman

                      Marital status: married

 Manager:

                      Verena Thies

                      D 48653 Coesfeld

                      authorized to jointly represent the company

                      born: 16.06.1985

 Manager:

                      Alexander Thies

                      D 48653 Coesfeld

                      authorized to jointly represent the company

                      born: 13.11.1986

 

Proxy

 

Bernhard Pöpping

D 48653 Coesfeld

authorized to jointly represent the company

born: 16.06.1952

Profession: Businessman

 

Proxy:

                      Peter van der Most

                      D 46325 Borken

                      authorized to jointly represent the company

                      born: 01.03.1968

 

 

BUSINESS ACTIVITIES

 

Main industrial sector

 2894    Manufacture of machinery for textile, apparel and leather production

 

PARTICIPATIONS

 

 Shareholder:

                      Thies Verwaltungs-GmbH

                      Borkener Str. 155

                      D 48653 Coesfeld

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR         12,800,000.00

                      Share:             EUR         12,800,000.00

                      Reg. data:  07.08.1957

                                  Local court 48653 Coesfeld

                                  HRB 1010

 

 

FINANCIAL INFORMATION

 

Payment experience:     within agreed terms

Negative information:    We have no negative information at hand.

 

 

REAL ESTATE

 

 Type of ownership:   proprietor

 Share:                100.00 %

 Address              Borkener Str. 155

                        D 48653 Coesfeld

 

 Type of real estate: factory building

 Size:                 78,500.00 sq.m

 Value at selling price:                 EUR          6,400,000.00

 

 Type of ownership:   proprietor

 Share:                100.00 %

 Address              Lindenallee 5

                      D 48653 Coesfeld

 Type of real estate: Commercial building

 

 Real Estate of:      Thies Verwaltungs-GmbH

 Type of ownership:   Tenant

 Address              Borkener Str. 155

                      D 48653 Coesfeld

 

 Land register documents were not available.

 

 

BANKERS

 

Principal bank

DEUTSCHE BANK, MÜNSTER, WESTF

Sort. code: 40070080, BIC: DEUTDE3B400

 

Further banks

COMMERZBANK, COESFELD

Sort. code: 40040028, BIC: COBADEFF400

 

COMMERZBANK VORMALS DRESDNER BANK, MÜNSTER, WESTF

Sort. code: 40080040, BIC: DRESDEFF400

 

UNICREDIT BANK - HYPOVEREINSBANK, BIELEFELD

Sort. code: 48020086, BIC: HYVEDEMM344

 

 

FINANCIAL FIGURES

 

 Financial year:      01.01. - 31.12.

 Turnover:            2011               EUR         60,000,000.00

                      2012               EUR         60,000,000.00

 further business figures:

 Equipment:                              EUR          3,200,000.00

 Ac/ts receivable:                       EUR          2,400,000.00

 Liabilities:                            EUR          2,400,000.00

 Real estate of the firm:                EUR          6,400,000.00

 Total numbers of vehicles:                                     12

 - Passenger cars:                                              12

 Employees:                                                    400

 

The aforementioned business figures may partly be estimated information based on average values in the line of business.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.34

UK Pound

1

Rs.82.56

Euro

1

Rs.70.10

 

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%)

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.