MIRA INFORM REPORT

Report Date :

02.05.2013

IDENTIFICATION DETAILS

Name :	MARCEGAGLIA - S.P.A

Registered Office :	Via Dei Bresciani, 16 46040 - Gazoldo degli Ippoliti (MN)

Country :	Italy

Financials (as on) :	31.12.2011

Date of Incorporation :	01.01.1984

Legal Form :	Joint stock company

Line of Business :	Manufacture of soldered tubes and pipes and similar Forging, drawing, stamping and roll-forming of metal

No. of Employees :	more than 1500

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 :	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 – March, 31^st,2013

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Italy

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

ITALY - ECONOMIC OVERVIEW

Italy has a diversified industrial economy, which is divided into a developed industrial north, dominated by private companies, and a less-developed, welfare-dependent, agricultural south, with high unemployment. The Italian economy is driven in large part by the manufacture of high-quality consumer goods produced by small and medium-sized enterprises, many of them family owned. Italy also has a sizable underground economy, which by some estimates accounts for as much as 17% of GDP. These activities are most common within the agriculture, construction, and service sectors. Italy is the third-largest economy in the euro-zone, but exceptionally high public debt burdens and structural impediments to growth have rendered it vulnerable to scrutiny by financial markets. Public debt has increased steadily since 2007, reaching 120% of GDP in 2011, and borrowing costs on sovereign government debt have risen to record levels. During the second half of 2011 the government passed a series of three austerity packages to balance its budget by 2013 and decrease its public debt burden. These measures included a hike in the value-added tax, pension reforms, and cuts to public administration. The government also faces pressure from investors and European partners to address Italy's long-standing structural impediments to growth, such as an inflexible labor market and widespread tax evasion. The international financial crisis worsened conditions in Italy''s labor market, with unemployment rising from 6.2% in 2007 to 8.4% in 2011, but in the longer-term Italy''s low fertility rate and quota-driven immigration policies will increasingly strain its economy. The euro-zone crisis along with Italian austerity measures have reduced exports and domestic demand, slowing Italy''s recovery. Italy''s GDP is still 5% below its 2007 pre-crisis level.

Source : CIA

Company name and address

MARCEGAGLIA - S.P.A

Via Dei Bresciani, 16

46040 - Gazoldo degli Ippoliti (MN) -IT-

Summary

Fiscal Code	:	01331020204
Legal Form	:	Joint stock company
start of Activities	:	01/01/1984
Equity	:	Over 2.582.254
Number of Employees	:	more than 1500

n.b.: The Creditworthness Rate shows, in percentage, the ratio between the suggested credit opinion and the credit amount that the firm could get if the financial situation would be completely positive.

Activity

Metallurgy

Manufacture of soldered tubes and pipes and similar Forging, drawing, stamping and roll-forming of metal; powder metallurgy

Legal Data

Legal Form : Joint stock company

Fiscal Code : 01331020204

Foreign Trade Reg. no. : MN002948 since 27/12/1991

Chamber of Commerce no. : 203837 of

Chamber of Commerce no. : 226594 of

Chamber of Commerce no. : 69019 of

Chamber of Commerce no. : 97629 of

Chamber of Commerce no. : 217780 of

Chamber of Commerce no. : 313123 of

Chamber of Commerce no. : 457888 of

Chamber of Commerce no. : 191658 of

Chamber of Commerce no. : 113610 of

Chamber of Commerce no. : 187317 of

Chamber of Commerce no. : 439083 of

Chamber of Commerce no. : 212493 of

Chamber of Commerce no. : 191658 of

Chamber of Commerce no. : 288437 of

Chamber of Commerce no. : 97001 of

Chamber of Commerce no. : 1382257 of

Chamber of Commerce no. : 1576842 of

Chamber of Commerce no. : 152396 of since 13/10/1983

Chamber of Commerce no. : 262922 of

Chamber of Commerce no. : 306934 of

Chamber of Commerce no. : 88291 of

Chamber of Commerce no. : 439083 of

Chamber of Commerce no. : 177189 of

Chamber of Commerce no. : 109437 of

Chamber of Commerce no. : 240436 of

Chamber of Commerce no. : 146969 of

Chamber of Commerce no. : 92309 of

Chamber of Commerce no. : 170480 of

Chamber of Commerce no. : 249789 of

Chamber of Commerce no. : 209498 of

Chamber of Commerce no. : 263708 of

Chamber of Commerce no. : 175505 of

Chamber of Commerce no. : 319505 of

Chamber of Commerce no. : 190295 of

Firms' Register : MN030-9565 of since 19/02/1996

V.A.T. Code : 01331020204

Foundation date	: 27/06/1983
Establishment date	: 27/06/1983
Start of Activities	: 01/01/1984
Legal duration	: 31/12/2050
Nominal Capital	: 58.876.440
Subscribed Capital	: 58.876.440
Paid up Capital	: 58.876.440

Members

Formaglio

Lorenzo

Born in Saronno

(VA)

on 29/11/1967

- Fiscal Code : FRMLNZ67S29I441A

Residence:

Sedicesima Strada

, 19

- 20020

Cesate

(MI)

- IT -

Position	Since	Shares Amount	% Ownership
Attorney with special power	31/05/2000

No Prejudicial events are reported

No Protests registered

Ferrari

Roberto

Born in Milano

(MI)

on 31/10/1961

- Fiscal Code : FRRRRT61R31F205C

Residence:

De Gasperi

, 20

- 26010

Robecco d'Oglio

(CR)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	30/07/1996

No Prejudicial events are reported

No Protests registered

Ceresetti

Enrico

Born in Pisogne

(BS)

on 30/03/1950

- Fiscal Code : CRSNRC50C30G710A

Residence:

Aldo Moro

, 1

- 25055

Pisogne

(BS)

- IT -

Position	Since	Shares Amount	% Ownership
Attorney with special power	09/12/1996

No Prejudicial events are reported

No Protests registered

Marcegaglia

Steno

Born in San Giovanni Ilarione

(VR)

on 09/08/1930

- Fiscal Code : MRCSTN30M09H916T

Residence:

G. Marconi

, 174

- 46040

Gazoldo degli Ippoliti

(MN)

- IT -

Position	Since	Shares Amount	% Ownership
Managing Director	29/06/2010
Director	29/06/2010
Board Chairman	29/06/2010

No Prejudicial events are reported

No Protests registered

Bazzani

Palmira

Born in Piadena

(CR)

on 08/03/1938

- Fiscal Code : BZZPMR38C48G536W

Residence:

Marconi

, 174

- 46040

Gazoldo degli Ippoliti

(MN)

- IT -

Position	Since	Shares Amount	% Ownership
Director	29/06/2010
Managing Director	29/06/2010

No Prejudicial events are reported

No Protests registered

Mercegaglia

Antonio

Born in Mantova

(MN)

on 12/12/1963

- Fiscal Code : MRCNTN63T12E897L

Residence:

Quaranta Bernardo

, 40

- 20141

Milano

(MI)

- IT -

Position	Since	Shares Amount	% Ownership
Director	29/06/2010
Managing Director	29/06/2010

No Prejudicial events are reported

No Protests registered

Marcegaglia

Emma

Born in Mantova

(MN)

on 24/12/1965

- Fiscal Code : MRCMME65T64E897Q

Residence:

Virgiliana

, 5

- 46100

Mantova

(MN)

- IT -

Position	Since	Shares Amount	% Ownership
Director	29/06/2010
Managing Director	29/06/2010

No Prejudicial events are reported

No Protests registered

Galli

Ezio Ercole

Born in Acquasparta

(TR)

on 02/04/1947

- Fiscal Code : GLLZCL47D02A045N

Residence:

Colle

, 27/A

- 05021

Acquasparta

(TR)

- IT -

Position	Since	Shares Amount	% Ownership
Attorney with special power	22/04/2003

No Prejudicial events are reported

No Protests registered

Favero

Fabio

Born in Padova

(PD)

on 13/05/1967

- Fiscal Code : FVRFBA67E13G224E

Residence:

Rizzo

, 6

- 35100

Padova

(PD)

- IT -

Position	Since	Shares Amount	% Ownership
Attorney with special power	25/03/1999

No Prejudicial events are reported

No Protests registered

Pistore

Pierluigi

Born in Albignasego

(PD)

on 03/09/1953

- Fiscal Code : PSTPLG53P03A161O

Residence:

Dell'ontano

, 3/62

- 20090

Rodano

(MI)

- IT -

Position	Since	Shares Amount	% Ownership
Attorney with special power	31/07/2006

No Prejudicial events are reported

No Protests registered

Gavina

Gabriele

Born in Milano

(MI)

on 20/03/1959

- Fiscal Code : GVNGRL59C20F205E

Residence:

Dell'ontano

, 3/105

- 20090

Rodano

(MI)

- IT -

Position	Since	Shares Amount	% Ownership
Attorney with special power	23/12/1998

No Prejudicial events are reported

No Protests registered

Casiraghi

Lucio

Born in Monza

(MB)

on 22/12/1953

- Fiscal Code : CSRLCU53T22F704F

Residence:

Xxv Aprile

, 83

- 20050

Lesmo

(MI)

- IT -

Position	Since	Shares Amount	% Ownership
Attorney with special power	21/02/2000

No Prejudicial events are reported

No Protests registered

Rosatti

Mauro

Born in Colleferro

(RM)

on 19/07/1975

- Fiscal Code : RSTMRA75L19C858X

Residence:

Delle Rose

, 68

- 35037

Teolo

(PD)

- IT -

Position	Since	Shares Amount	% Ownership
Attorney with special power	01/03/2013

No Prejudicial events are reported

No Protests registered

Romano

Giovanni

Born in Napoli

(NA)

on 10/04/1975

- Fiscal Code : RMNGNN75D10F839C

Residence:

Della Rimembranza

, 40

- 15067

Novi Ligure

(AL)

- IT -

Position	Since	Shares Amount	% Ownership
Procurator	10/02/2010

No Prejudicial events are reported

No Protests registered

Bonacina

Lorenzo

Born in Vaprio d'Adda

(MI)

on 27/06/1970

- Fiscal Code : BNCLNZ70H27L667U

Residence:

Martiri Di Cefalonia E Cor

, 44

- 24045

Fara Gera d'Adda

(BG)

- IT -

Position	Since	Shares Amount	% Ownership
Attorney with special power	01/03/2013

No Prejudicial events are reported

No Protests registered

Cecchin

Sergio

Born in Bassano del Grappa

(VI)

on 30/03/1956

- Fiscal Code : CCCSRG56C30A703S

Residence:

Europa

, 310/A

- 36061

Bassano del Grappa

(VI)

- IT -

Position	Since	Shares Amount	% Ownership
Attorney with special power	18/12/2009

No Prejudicial events are reported

No Protests registered

Fasoli

Fabio Agostino

Born in Massa Martana

(PG)

on 20/01/1943

- Fiscal Code : FSLFGS43A20F024C

Residence:

Dante Ricci

, 34

- 05021

Acquasparta

(TR)

- IT -

Position	Since	Shares Amount	% Ownership
Attorney with special power	04/12/2009

No Prejudicial events are reported

No Protests registered

Navone

Domenico

Born in Villanova d'Asti

(AT)

on 20/03/1960

- Fiscal Code : NVNDNC60C20L984C

Residence:

Brassicarda

, 12

- 14019

Villanova d'Asti

(AT)

- IT -

Position	Since	Shares Amount	% Ownership
Attorney with special power	23/03/2012

No Prejudicial events are reported

No Protests registered

Testa

Stefano

Born in Bergamo

(BG)

on 30/12/1971

- Fiscal Code : TSTSFN71T30A794F

Residence:

S. Biagio

, 3/A

- 24048

Treviolo

(BG)

- IT -

Position	Since	Shares Amount	% Ownership
Attorney with special power	01/03/2013

No Prejudicial events are reported

No Protests registered

Dall'acqua

Stefano

Born in Castel Goffredo

(MN)

on 09/01/1962

- Fiscal Code : DLLSFN62A09C118X

Residence:

Verona

, 11/A

- 25019

Sirmione

(BS)

- IT -

Position	Since	Shares Amount	% Ownership
Attorney with special power	01/03/2013

No Prejudicial events are reported

No Protests registered

Companies connected to members *

*checkings have been performed on a national scale.

In this module are listed the companies in which members hold or have holded positions.

Marcegaglia

Steno

Firm's Style	Seat	Fiscal Code	Position	Position Status	Firm's Status
I.m.a.t. S.p.a.	Fontanafredda (PN) - IT -	00074650938	Managing Director	Active	Registered
I.m.a.t. S.p.a.	Fontanafredda (PN) - IT -	00074650938	Director	Active	Registered
I.m.a.t. S.p.a.	Fontanafredda (PN) - IT -	00074650938	Board Chairman	Active	Registered
Nuova*omec S.r.l.	Ozzano dell'Emilia (BO) - IT -	01219110374	Chairman	Withdrawn	Ceased
Metallurgica Marcegaglia S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	00246070205	Chairman	Withdrawn	Ceased
Dasast S.p.a. In Liquidazione	Anzano del Parco (CO) - IT -	00220530133	Assistant board Chairman	Withdrawn	In liquidation
Profilnastro - Societa' Per Azioni	Dusino San Michele (AT) - IT -	00072110059	Managing Director	Withdrawn	Merged
Profilnastro - Societa' Per Azioni	Dusino San Michele (AT) - IT -	00072110059	Director	Withdrawn	Merged
Profilnastro - Societa' Per Azioni	Dusino San Michele (AT) - IT -	00072110059	Chairman and Managing Director	Withdrawn	Merged
Profilnastro - Societa' Per Azioni	Dusino San Michele (AT) - IT -	00072110059	Board Chairman	Withdrawn	Merged
I.p.a.s. Industria Profilazione AcciaioStampaggio- S.p.a.-	Volta Mantovana (MN) - IT -	00105800205	Chairman	Withdrawn	Ceased
Oto S.p.a.	Boretto (RE) - IT -	00908590359	Managing Director	Active	Registered
Oto S.p.a.	Boretto (RE) - IT -	00908590359	Director	Active	Registered
Oto S.p.a.	Boretto (RE) - IT -	00908590359	Assistant board Chairman	Withdrawn	Registered
Oto S.p.a.	Boretto (RE) - IT -	00908590359	Board Chairman	Active	Registered
La Gaiana - S.p.a.	Genova (GE) - IT -	00278770102	Director	Withdrawn	Merged
La Gaiana - S.p.a.	Genova (GE) - IT -	00278770102	Board Chairman	Withdrawn	Merged
Lombarda Tubi S.p.a.	Lomagna (LC) - IT -	00231230137	Chairman	Withdrawn	Ceased
Lombarda Tubi S.p.a.	Lomagna (LC) - IT -	00231230137	Managing Director	Withdrawn	Ceased
Brollo Profilati S.p.a.	Desio (MI) - IT -	00792100158	Managing Director	Withdrawn	Ceased
Brollo Profilati S.p.a.	Desio (MI) - IT -	00792100158	Director	Withdrawn	Ceased
Brollo Profilati S.p.a.	Desio (MI) - IT -	00792100158	Chairman and Managing Director	Withdrawn	Ceased
Brollo Profilati S.p.a.	Desio (MI) - IT -	00792100158	Board Chairman	Withdrawn	Ceased
Ponteggi Dalmine Spa	Milano (MI) - IT -	00928670157	Director	Withdrawn	Merged
Ponteggi Dalmine Spa	Milano (MI) - IT -	00928670157	Board Chairman	Withdrawn	Merged
Lmc S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	01048660391	Director	Withdrawn	Ceased
Lmc S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	01048660391	Sole Director	Withdrawn	Ceased
C.c.t. Caldereria Costruzioni Termomeccaniche S.r.l.	Gazoldo degli Ippoliti (MN) - IT -	01555600202	Chairman	Withdrawn	Ceased
C.c.t. Caldereria Costruzioni Termomeccaniche S.r.l.	Gazoldo degli Ippoliti (MN) - IT -	01555600202	Sole Director	Withdrawn	Ceased
C.c.t. Caldereria Costruzioni Termomeccaniche S.r.l.	Gazoldo degli Ippoliti (MN) - IT -	01555600202	Board Chairman	Withdrawn	Ceased
Bvb Societa' A Responsabilita' LimitataO, In Forma Abbreviata Bvb S.r.l.	Gazoldo degli Ippoliti (MN) - IT -	01100620416	Director	Withdrawn	Ceased
Albarella - Societa' Per Azioni O, In Forma Abbreviata, Albarella S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	00071270292	Director	Active	Registered
Albarella - Societa' Per Azioni O, In Forma Abbreviata, Albarella S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	00071270292	Managing Director	Withdrawn	Registered
Albarella - Societa' Per Azioni O, In Forma Abbreviata, Albarella S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	00071270292	Board Chairman	Active	Registered
Banca Agricola Mantovana - S.p.a.	Mantova (MN) - IT -	00141280206	Director	Withdrawn	Merged
Edilacciai S.r.l.	- -	01040490391	Chairman	Withdrawn	Ceased
Edilacciai S.r.l.	- -	01040490391	Managing Director	Withdrawn	Ceased
Edilacciai S.r.l.	- -	01040490391	Director	Withdrawn	Ceased
Edilacciai S.r.l.	- -	01040490391	Director	Withdrawn	Ceased
Edilacciai S.r.l.	- -	01040490391	Board Chairman	Withdrawn	Ceased
Oskar Societa' A Responsabilita' Limitata O, In Forma Abbreviata, Oskar S.r.l.	Gazoldo degli Ippoliti (MN) - IT -	01515500203	Chairman	Withdrawn	Ceased
Oskar Societa' A Responsabilita' Limitata O, In Forma Abbreviata, Oskar S.r.l.	Gazoldo degli Ippoliti (MN) - IT -	01515500203	Director	Withdrawn	Ceased
Oskar Societa' A Responsabilita' Limitata O, In Forma Abbreviata, Oskar S.r.l.	Gazoldo degli Ippoliti (MN) - IT -	01515500203	Managing Director	Withdrawn	Ceased
Oskar Societa' A Responsabilita' Limitata O, In Forma Abbreviata, Oskar S.r.l.	Gazoldo degli Ippoliti (MN) - IT -	01515500203	Board Chairman	Withdrawn	Ceased
Marcegaglia Finanziaria - S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	01534930209	Liquidator	Withdrawn	Ceased
S.i.m. - Societa' Italiana Marmitte S.r.l. In Forma Abbreviata Sim S.r.l.	Teramo (TE) - IT -	00696290675	Director	Withdrawn	Registered
S.i.m. - Societa' Italiana Marmitte S.r.l. In Forma Abbreviata Sim S.r.l.	Teramo (TE) - IT -	00696290675	Board Chairman	Withdrawn	Registered
Trisider Societa' Per Azioni O In FormaAbbreviata Trisider S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	00329200240	Director	Withdrawn	Ceased
Trisider Societa' Per Azioni O In FormaAbbreviata Trisider S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	00329200240	Sole Director	Withdrawn	Ceased
Fingem - S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	01477080202	Chairman	Withdrawn	Merged
Fingem - S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	01477080202	Managing Director	Withdrawn	Merged
Fingem - S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	01477080202	Director	Withdrawn	Merged
E.t.a.- Euro Tubi Acciaio Spa	Milano (MI) - IT -	10919750157	Director	Withdrawn	Ceased
Marcegaglia Futures-societa' Per AzioniO, In Forma Abbreviata: Marcegaglia Futu	Gazoldo degli Ippoliti (MN) - IT -	01533010201	Chairman	Withdrawn	Ceased
Marcegaglia Futures-societa' Per AzioniO, In Forma Abbreviata: Marcegaglia Futu	Gazoldo degli Ippoliti (MN) - IT -	01533010201	Managing Director	Withdrawn	Ceased
Marcegaglia Futures-societa' Per AzioniO, In Forma Abbreviata: Marcegaglia Futu	Gazoldo degli Ippoliti (MN) - IT -	01533010201	Director	Withdrawn	Ceased
Marcegaglia Futures-societa' Per AzioniO, In Forma Abbreviata: Marcegaglia Futu	Gazoldo degli Ippoliti (MN) - IT -	01533010201	Board Chairman	Withdrawn	Ceased
O.m.f. Officine Meccaniche Fiume VenetoSocieta' A Responsabilita' Limitata O, I	Gazoldo degli Ippoliti (MN) - IT -	01048670390	Sole Director	Withdrawn	Ceased
O.m.f. Officine Meccaniche Fiume VenetoSocieta' A Responsabilita' Limitata O, I	Gazoldo degli Ippoliti (MN) - IT -	01048670390	Liquidator	Withdrawn	Ceased
O.m.f. Officine Meccaniche Fiume VenetoSocieta' A Responsabilita' Limitata O, I	Gazoldo degli Ippoliti (MN) - IT -	01048670390	Legal Owners' representative	Withdrawn	Ceased
Gabetti Property Solutions S.p.a.	Milano (MI) - IT -	81019220029	Director	Active	Registered
Gabetti Property Solutions S.p.a.	Milano (MI) - IT -	81019220029	Assistant board Chairman	Withdrawn	Registered
Marfin s.r.l.	Gazoldo degli Ippoliti (MN) - IT -	01477070203	Sole Director	Active	Registered
Fingaiana S.r.l.	Genova (GE) - IT -	03274150105	Director	Withdrawn	Ceased
Allu's S.p.a.	Sesto Al Reghena (PN) - IT -	06194590011	Managing Director	Active	Registered
Allu's S.p.a.	Sesto Al Reghena (PN) - IT -	06194590011	Director	Active	Registered
Allu's S.p.a.	Sesto Al Reghena (PN) - IT -	06194590011	Board Chairman	Active	Registered
Padana Immobiliare S.p.a.	Mantova (MN) - IT -	01726260209	Director	Withdrawn	Ceased
Padana Immobiliare S.p.a.	Mantova (MN) - IT -	01726260209	Board Chairman	Withdrawn	Ceased
Sirio-fin. S.r.l. In Liquidazione	Mantova (MN) - IT -	00907050298	Sole Director	Withdrawn	Ceased
Consorzio Studi E Sviluppo Gruppo Marcegaglia	Gazoldo degli Ippoliti (MN) - IT -	01580030201	Chairman	Withdrawn	Ceased
So.ge.p.a. - Societa' Generale Di Partecipazioni Azionarie S.p.a.	Budrio (BO) - IT -	03981930377	Chairman	Withdrawn	Ceased
So.ge.p.a. - Societa' Generale Di Partecipazioni Azionarie S.p.a.	Budrio (BO) - IT -	03981930377	Liquidator	Withdrawn	Ceased
Intermonte Sim - S.p.a. Siglabile Anche Intermonte - Societa Di Intermediazio	Milano (MI) - IT -	06817880013	Director	Withdrawn	Ceased
Intermonte Sim - S.p.a. Siglabile Anche Intermonte - Societa Di Intermediazio	Milano (MI) - IT -	06817880013	Board Chairman	Withdrawn	Ceased
Sitra S.r.l.	Desenzano del Garda (BS) - IT -	09763650158	Board Chairman	Withdrawn	Ceased
Made - Ambiente Sicurezza Qualita' S.r.l.	Zola Predosa (BO) - IT -	03779410376	Managing Director	Withdrawn	Registered
Made - Ambiente Sicurezza Qualita' S.r.l.	Zola Predosa (BO) - IT -	03779410376	Director	Withdrawn	Registered
Made - Ambiente Sicurezza Qualita' S.r.l.	Zola Predosa (BO) - IT -	03779410376	Board Chairman	Withdrawn	Registered
S.c.a.i S.r.l.	Rosolina (RO) - IT -	00042900290	Chairman	Withdrawn	Ceased
Albarsport Hotel S.r.l.	Rosolina (RO) - IT -	00071290290	Chairman	Withdrawn	Ceased
Eco Energia S.r.l.	Massafra (TA) - IT -	00413310723	Director	Active	Registered
E.t.a. - Energie Tecnologie Ambiente Societa' Per Azioni (in Forma Abbreviata E	Crotone (KR) - IT -	10223350157	Director	Active	Registered
Marcegaglia Energy Societa' A Responsabilita' Limitata O, In Forma Abbreviata M	Gazoldo degli Ippoliti (MN) - IT -	01610480202	Chairman	Withdrawn	Ceased
Marcegaglia Energy Societa' A Responsabilita' Limitata O, In Forma Abbreviata M	Gazoldo degli Ippoliti (MN) - IT -	01610480202	Director	Withdrawn	Ceased
Marcegaglia Energy Societa' A Responsabilita' Limitata O, In Forma Abbreviata M	Gazoldo degli Ippoliti (MN) - IT -	01610480202	Sole Director	Withdrawn	Ceased
Al - Club - S.r.l.	Gazoldo degli Ippoliti (MN) - IT -	01515870200	Sole Director	Withdrawn	Ceased
Nuova Forsidera - S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	03225900103	Director	Withdrawn	Ceased
Nuova Forsidera - S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	03225900103	Sole Director	Withdrawn	Ceased
Nuova Forsidera - S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	03225900103	Board Chairman	Withdrawn	Ceased
Marcegaglia - Trubo-impex S.r.l. - In Liquidazione	Gazoldo degli Ippoliti (MN) - IT -	00910540392	Chairman	Withdrawn	In liquidation
Marcegaglia - Trubo-impex S.r.l. - In Liquidazione	Gazoldo degli Ippoliti (MN) - IT -	00910540392	Judicial liquidator	Withdrawn	In liquidation
Marcegaglia - Trubo-impex S.r.l. - In Liquidazione	Gazoldo degli Ippoliti (MN) - IT -	00910540392	Legal Owners' representative	Withdrawn	In liquidation
Marcegaglia Taranto S.p.a.	Lainate (MI) - IT -	01851590206	Managing Director	Withdrawn	Ceased
Marcegaglia Taranto S.p.a.	Lainate (MI) - IT -	01851590206	Director	Withdrawn	Ceased
Pugnochiuso Gruppo Marcegaglia - S.r.l.	Gazoldo degli Ippoliti (MN) - IT -	01944440203	Director	Active	Registered
Pugnochiuso Gruppo Marcegaglia - S.r.l.	Gazoldo degli Ippoliti (MN) - IT -	01944440203	Board Chairman	Active	Registered
Saom - Boltiere S.p.a.	Boltiere (BG) - IT -	00221900160	Chairman	Withdrawn	Ceased
Saom - Boltiere S.p.a.	Boltiere (BG) - IT -	00221900160	Managing Director	Withdrawn	Ceased
Immobiliare Padana S.a.s. Di Marcegaglia- S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	06722340152	Director	Withdrawn	Ceased
Immobiliare Padana S.a.s. Di Marcegaglia- S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	06722340152	General Partner	Withdrawn	Ceased
Immobiliare Padana S.a.s. Di Marcegaglia- S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	06722340152	Limited Partner	Withdrawn	Ceased
I.m.m.o. Di Marcegaglia - S.p.a. E C.S.a.s.	Gazoldo degli Ippoliti (MN) - IT -	01299910206	Limited Partner	Withdrawn	Merged
Imaces Industrie Mantovane E Cremonesi Associate Per L'esportazione S.r.l.	Mantova (MN) - IT -	00388560203	Chairman	Withdrawn	Ceased
Societa' Agricola Zootecnica Di Sbarra Piero Emilio E C. - S.a.s.	Ceresara (MN) - IT -	00405360207	Limited Partner	Active	Registered
Fingen - S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	01206980201	Chairman	Withdrawn	Ceased
Tubi Acciaio S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	01206990200	Chairman	Withdrawn	Ceased
Almar S.r.l.	Rosolina (RO) - IT -	00815580295	Chairman	Withdrawn	Ceased
Almar S.r.l.	Rosolina (RO) - IT -	00815580295	Managing Director	Withdrawn	Ceased
Renova S.r.l.	Roma (RM) - IT -	02574130122	Sole partner	Withdrawn	Ceased
Gaia Turismo S.r.l.	Milano (MI) - IT -	05774780968	Managing Director	Active	Registered
Gaia Turismo S.r.l.	Milano (MI) - IT -	05774780968	Director	Active	Registered
Intermonte Sim S.p.a. Siglabile Anche Come Intermonte - Societa' Di Intermediaz	Milano (MI) - IT -	01234020525	Director	Withdrawn	Registered
Intermonte Sim S.p.a. Siglabile Anche Come Intermonte - Societa' Di Intermediaz	Milano (MI) - IT -	01234020525	Board Chairman	Withdrawn	Registered
Mariven S.r.l.	Gazoldo degli Ippoliti (MN) - IT -	02238870204	Managing Director	Active	Registered
Mariven S.r.l.	Gazoldo degli Ippoliti (MN) - IT -	02238870204	Director	Active	Registered
Mariven S.r.l.	Gazoldo degli Ippoliti (MN) - IT -	02238870204	Board Chairman	Active	Registered
Banca Agricola Mantovana S.p.a. In Breve Bam S.p.a. Ovvero B.a.m. S.p.a.	Mantova (MN) - IT -	02017160207	Director	Withdrawn	Ceased
Banca Agricola Mantovana S.p.a. In Breve Bam S.p.a. Ovvero B.a.m. S.p.a.	Mantova (MN) - IT -	02017160207	Assistant board Chairman	Withdrawn	Ceased
Aida S.p.a.	Villafranca di Verona (VR) - IT -	03272350236	Director	Withdrawn	Registered
Siderfactor S.p.a. In Liquidazione	Milano (MI) - IT -	04158610966	Director	Withdrawn	Ceased
Siderfactor S.p.a. In Liquidazione	Milano (MI) - IT -	04158610966	Board Chairman	Withdrawn	Ceased
Arendi S.r.l. - In Liquidazione	Gallarate (VA) - IT -	02078830201	Managing Director	Withdrawn	Registered
Arendi S.r.l. - In Liquidazione	Gallarate (VA) - IT -	02078830201	Director	Withdrawn	Registered
Arendi S.r.l. - In Liquidazione	Gallarate (VA) - IT -	02078830201	Board Chairman	Withdrawn	Registered

Bazzani

Palmira

Firm's Style	Seat	Fiscal Code	Position	Position Status	Firm's Status
I.m.a.t. S.p.a.	Fontanafredda (PN) - IT -	00074650938	Director	Withdrawn	Registered
Metallurgica Marcegaglia S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	00246070205	Procurator	Withdrawn	Ceased
Profilnastro - Societa' Per Azioni	Dusino San Michele (AT) - IT -	00072110059	Managing Director	Withdrawn	Merged
Profilnastro - Societa' Per Azioni	Dusino San Michele (AT) - IT -	00072110059	Director	Withdrawn	Merged
I.p.a.s. Industria Profilazione AcciaioStampaggio- S.p.a.-	Volta Mantovana (MN) - IT -	00105800205	Procurator	Withdrawn	Ceased
Oto S.p.a.	Boretto (RE) - IT -	00908590359	Director	Active	Registered
Lombarda Tubi S.p.a.	Lomagna (LC) - IT -	00231230137	Managing Director	Withdrawn	Ceased
Ponteggi Dalmine Spa	Milano (MI) - IT -	00928670157	Managing Director	Withdrawn	Merged
Ponteggi Dalmine Spa	Milano (MI) - IT -	00928670157	Director	Withdrawn	Merged
Albarella - Societa' Per Azioni O, In Forma Abbreviata, Albarella S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	00071270292	Managing Director	Withdrawn	Registered
Albarella - Societa' Per Azioni O, In Forma Abbreviata, Albarella S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	00071270292	Director	Withdrawn	Registered
Albarella - Societa' Per Azioni O, In Forma Abbreviata, Albarella S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	00071270292	Managing Director	Withdrawn	Registered
Edilacciai S.r.l.	- -	01040490391	Director	Withdrawn	Ceased
Fingem - S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	01477080202	Managing Director	Withdrawn	Merged
Fingem - S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	01477080202	Director	Withdrawn	Merged
Made - Ambiente Sicurezza Qualita' S.r.l.	Zola Predosa (BO) - IT -	03779410376	Director	Withdrawn	Registered
Pugnochiuso Gruppo Marcegaglia - S.r.l.	Gazoldo degli Ippoliti (MN) - IT -	01944440203	Director	Withdrawn	Registered
Saom - Boltiere S.p.a.	Boltiere (BG) - IT -	00221900160	Managing Director	Withdrawn	Ceased
Immobiliare Padana S.a.s. Di Marcegaglia- S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	06722340152	Limited Partner	Withdrawn	Ceased
Fingen - S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	01206980201	Procurator	Withdrawn	Ceased
Tubi Acciaio S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	01206990200	Procurator	Withdrawn	Ceased
Almar S.r.l.	Rosolina (RO) - IT -	00815580295	Managing Director	Withdrawn	Ceased
Gaia Turismo S.r.l.	Milano (MI) - IT -	05774780968	Managing Director	Active	Registered
Gaia Turismo S.r.l.	Milano (MI) - IT -	05774780968	Director	Active	Registered

Mercegaglia

Antonio

Firm's Style	Seat	Fiscal Code	Position	Position Status	Firm's Status
I.m.a.t. S.p.a.	Fontanafredda (PN) - IT -	00074650938	Director	Withdrawn	Registered
Nuova*omec S.r.l.	Ozzano dell'Emilia (BO) - IT -	01219110374	Managing Director	Withdrawn	Ceased
Metallurgica Marcegaglia S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	00246070205	Procurator	Withdrawn	Ceased
Profilnastro - Societa' Per Azioni	Dusino San Michele (AT) - IT -	00072110059	Director	Withdrawn	Merged
I.p.a.s. Industria Profilazione AcciaioStampaggio- S.p.a.-	Volta Mantovana (MN) - IT -	00105800205	Procurator	Withdrawn	Ceased
Luigi Lavazza - Societa' Per Azioni Abbreviabile Anche Nella Sigla: Lavazza S.p.	Torino (TO) - IT -	00470550013	Director	Active	Registered
Oto S.p.a.	Boretto (RE) - IT -	00908590359	Director	Active	Registered
Lombarda Tubi S.p.a.	Lomagna (LC) - IT -	00231230137	Managing Director	Withdrawn	Ceased
Brollo Profilati S.p.a.	Desio (MI) - IT -	00792100158	Director	Withdrawn	Ceased
Ponteggi Dalmine Spa	Milano (MI) - IT -	00928670157	Director	Withdrawn	Merged
C.c.t. Caldereria Costruzioni Termomeccaniche S.r.l.	Gazoldo degli Ippoliti (MN) - IT -	01555600202	Director	Withdrawn	Ceased
Bvb Societa' A Responsabilita' LimitataO, In Forma Abbreviata Bvb S.r.l.	Gazoldo degli Ippoliti (MN) - IT -	01100620416	Director	Withdrawn	Ceased
Albarella - Societa' Per Azioni O, In Forma Abbreviata, Albarella S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	00071270292	Managing Director	Withdrawn	Registered
Albarella - Societa' Per Azioni O, In Forma Abbreviata, Albarella S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	00071270292	Director	Withdrawn	Registered
Albarella - Societa' Per Azioni O, In Forma Abbreviata, Albarella S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	00071270292	Managing Director	Withdrawn	Registered
ALLU'S - S.P.A..	Sesto Al Reghena (PN) - IT -	01221000936	Director	Withdrawn	Registered
Oskar Societa' A Responsabilita' Limitata O, In Forma Abbreviata, Oskar S.r.l.	Gazoldo degli Ippoliti (MN) - IT -	01515500203	Director	Withdrawn	Ceased
Oskar Societa' A Responsabilita' Limitata O, In Forma Abbreviata, Oskar S.r.l.	Gazoldo degli Ippoliti (MN) - IT -	01515500203	Sole Director	Withdrawn	Ceased
Fergallo Societa' A Responsabilita' Limitata O In Forma Abbreviata Fer	Gazoldo degli Ippoliti (MN) - IT -	00421430208	Director	Withdrawn	Ceased
S.i.m. - Societa' Italiana Marmitte S.r.l. In Forma Abbreviata Sim S.r.l.	Teramo (TE) - IT -	00696290675	Director	Withdrawn	Registered
Trisider Societa' Per Azioni O In FormaAbbreviata Trisider S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	00329200240	Director	Withdrawn	Ceased
Oto Automation S.r.l.	Sovizzo (VI) - IT -	01988880249	Managing Director	Withdrawn	Registered
Oto Automation S.r.l.	Sovizzo (VI) - IT -	01988880249	Director	Active	Registered
Fingem - S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	01477080202	Director	Withdrawn	Merged
E.t.a.- Euro Tubi Acciaio Spa	Milano (MI) - IT -	10919750157	Chairman	Withdrawn	Ceased
E.t.a.- Euro Tubi Acciaio Spa	Milano (MI) - IT -	10919750157	Director	Withdrawn	Ceased
E.t.a.- Euro Tubi Acciaio Spa	Milano (MI) - IT -	10919750157	Sole Director	Withdrawn	Ceased
Marcegaglia Futures-societa' Per AzioniO, In Forma Abbreviata: Marcegaglia Futu	Gazoldo degli Ippoliti (MN) - IT -	01533010201	Managing Director	Withdrawn	Ceased
Marcegaglia Futures-societa' Per AzioniO, In Forma Abbreviata: Marcegaglia Futu	Gazoldo degli Ippoliti (MN) - IT -	01533010201	Director	Withdrawn	Ceased
Gabetti Property Solutions S.p.a.	Milano (MI) - IT -	81019220029	Director	Active	Registered
Delna S.p.a.	Brivio (LC) - IT -	00341940138	Director	Active	Registered
Allu's S.p.a.	Sesto Al Reghena (PN) - IT -	06194590011	Director	Withdrawn	Registered
Consorzio Studi E Sviluppo Gruppo Marcegaglia	Gazoldo degli Ippoliti (MN) - IT -	01580030201	Director	Withdrawn	Ceased
Consorzio Mantovano Interaziendale Per La Formazione Professiona- Le	Gazoldo degli Ippoliti (MN) - IT -	01624810204	Chairman	Withdrawn	Registered
So.ge.p.a. - Societa' Generale Di Partecipazioni Azionarie S.p.a.	Budrio (BO) - IT -	03981930377	Director	Withdrawn	Ceased
A.s.q. Ambiente Sicurezza Qualita' S.r.l.	Modena (MO) - IT -	01773520208	Director	Withdrawn	Registered
Euroenergy Group S.r.l.	Lainate (MI) - IT -	01657620207	Director	Active	Registered
Euroenergy Group S.r.l.	Lainate (MI) - IT -	01657620207	Board Chairman	Withdrawn	Registered
Made - Ambiente Sicurezza Qualita' S.r.l.	Zola Predosa (BO) - IT -	03779410376	Director	Withdrawn	Registered
S.c.a.i S.r.l.	Rosolina (RO) - IT -	00042900290	Managing Director	Withdrawn	Ceased
Albarsport Hotel S.r.l.	Rosolina (RO) - IT -	00071290290	Managing Director	Withdrawn	Ceased
Eco Energia S.r.l.	Massafra (TA) - IT -	00413310723	Director	Active	Registered
E.t.a. - Energie Tecnologie Ambiente Societa' Per Azioni (in Forma Abbreviata E	Crotone (KR) - IT -	10223350157	Managing Director	Withdrawn	Registered
E.t.a. - Energie Tecnologie Ambiente Societa' Per Azioni (in Forma Abbreviata E	Crotone (KR) - IT -	10223350157	Director	Active	Registered
E.t.a. - Energie Tecnologie Ambiente Societa' Per Azioni (in Forma Abbreviata E	Crotone (KR) - IT -	10223350157	Board Chairman	Withdrawn	Registered
Marcegaglia Energy Societa' A Responsabilita' Limitata O, In Forma Abbreviata M	Gazoldo degli Ippoliti (MN) - IT -	01610480202	Managing Director	Withdrawn	Ceased
Marcegaglia Energy Societa' A Responsabilita' Limitata O, In Forma Abbreviata M	Gazoldo degli Ippoliti (MN) - IT -	01610480202	Director	Withdrawn	Ceased
Nuova Forsidera - S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	03225900103	Director	Withdrawn	Ceased
Euro Energy Daunia -s.r.l.	Foggia (FG) - IT -	02343770711	Board Chairman	Withdrawn	Ceased
Marcegaglia Taranto S.p.a.	Lainate (MI) - IT -	01851590206	Managing Director	Withdrawn	Ceased
Marcegaglia Taranto S.p.a.	Lainate (MI) - IT -	01851590206	Director	Withdrawn	Ceased
Marcegaglia Taranto S.p.a.	Lainate (MI) - IT -	01851590206	Board Chairman	Withdrawn	Ceased
Elet.ca Societa' A Responsabilita' Limitata O, In Forma Abbreviata Elet.ca S.r.	Gazoldo degli Ippoliti (MN) - IT -	01864180201	Director	Withdrawn	Registered
Appia Energy S.r.l.	Massafra (TA) - IT -	02304890730	Director	Active	Registered
Appia Energy S.r.l.	Massafra (TA) - IT -	02304890730	Managing Director	Withdrawn	Registered
Appia Energy S.r.l.	Massafra (TA) - IT -	02304890730	Board Chairman	Withdrawn	Registered
Pugnochiuso Gruppo Marcegaglia - S.r.l.	Gazoldo degli Ippoliti (MN) - IT -	01944440203	Director	Withdrawn	Registered
Fuelco Uno S.r.l.	Gallarate (VA) - IT -	02593630128	Director	Withdrawn	Ceased
Fuelco Uno S.r.l.	Gallarate (VA) - IT -	02593630128	Board Chairman	Withdrawn	Ceased
Saom - Boltiere S.p.a.	Boltiere (BG) - IT -	00221900160	Managing Director	Withdrawn	Ceased
Fingen - S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	01206980201	Procurator	Withdrawn	Ceased
Tubi Acciaio S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	01206990200	Procurator	Withdrawn	Ceased
Almar S.r.l.	Rosolina (RO) - IT -	00815580295	Managing Director	Withdrawn	Ceased
FINPADANA - S.R.L.	Gazoldo degli Ippoliti (MN) - IT -	01344950207	Sole Director	Withdrawn	Registered
Allevamenti Zootecnici Societa' AgricolaDi Sbarra Piero Emilio E C. S.s.	Ceresara (MN) - IT -	01797190202	Partner	Withdrawn	Registered
Allevamenti Zootecnici Societa' AgricolaDi Sbarra Piero Emilio E C. S.s.	Ceresara (MN) - IT -	01797190202	Partner	Active	Registered
Steam Generators S.r.l.	Gazoldo degli Ippoliti (MN) - IT -	01956810202	Managing Director	Withdrawn	Registered
Steam Generators S.r.l.	Gazoldo degli Ippoliti (MN) - IT -	01956810202	Director	Active	Registered
Steam Generators S.r.l.	Gazoldo degli Ippoliti (MN) - IT -	01956810202	Board Chairman	Withdrawn	Registered
Gaia Turismo S.r.l.	Milano (MI) - IT -	05774780968	Managing Director	Withdrawn	Registered
Gaia Turismo S.r.l.	Milano (MI) - IT -	05774780968	Director	Active	Registered
Mm Gulf S.r.l.	Cisliano (MI) - IT -	05670530962	Director	Active	Registered
Mariven S.r.l.	Gazoldo degli Ippoliti (MN) - IT -	02238870204	Director	Active	Registered
Siderfactor S.p.a. In Liquidazione	Milano (MI) - IT -	04158610966	Director	Withdrawn	Ceased
Euroenergy Renova S.r.l.	Gazoldo degli Ippoliti (MN) - IT -	02018790200	Director	Active	Registered
Euroenergy Renova S.r.l.	Gazoldo degli Ippoliti (MN) - IT -	02018790200	Sole Director	Withdrawn	Registered
Arendi S.r.l. - In Liquidazione	Gallarate (VA) - IT -	02078830201	Director	Withdrawn	Registered
Arendi S.r.l. - In Liquidazione	Gallarate (VA) - IT -	02078830201	Board Chairman	Withdrawn	Registered
Palazzo Dell'agricoltura S.r.l.	Poggio Rusco (MN) - IT -	02256310208	Director	Active	Registered
Taranto Solar S.r.l.	Roma (RM) - IT -	10812671005	Director	Active	Registered
Taranto Solar S.r.l.	Roma (RM) - IT -	10812671005	Assistant board Chairman	Active	Registered

Marcegaglia

Emma

Firm's Style	Seat	Fiscal Code	Position	Position Status	Firm's Status
Indesit Company S.p.a.	Fabriano (AN) - IT -	00693740425	Director	Withdrawn	Registered
Italcementi Fabbriche Riunite Cemento S.p.a. Bergamo	Bergamo (BG) - IT -	00637110164	Director	Withdrawn	Registered
I.m.a.t. S.p.a.	Fontanafredda (PN) - IT -	00074650938	Managing Director	Active	Registered
I.m.a.t. S.p.a.	Fontanafredda (PN) - IT -	00074650938	Director	Active	Registered
Nuova*omec S.r.l.	Ozzano dell'Emilia (BO) - IT -	01219110374	Managing Director	Withdrawn	Ceased
Bracco Spa	Milano (MI) - IT -	00825120157	Director	Active	Registered
Profilnastro - Societa' Per Azioni	Dusino San Michele (AT) - IT -	00072110059	Managing Director	Withdrawn	Merged
Profilnastro - Societa' Per Azioni	Dusino San Michele (AT) - IT -	00072110059	Director	Withdrawn	Merged
Italia Turismo S.p.a.	Roma (RM) - IT -	05711140581	Director	Withdrawn	Registered
Italia Turismo S.p.a.	Roma (RM) - IT -	05711140581	Assistant board Chairman	Withdrawn	Registered
Lombarda Tubi S.p.a.	Lomagna (LC) - IT -	00231230137	Managing Director	Withdrawn	Ceased
Brollo Profilati S.p.a.	Desio (MI) - IT -	00792100158	Director	Withdrawn	Ceased
Ponteggi Dalmine Spa	Milano (MI) - IT -	00928670157	Director	Withdrawn	Merged
Ponteggi Dalmine Spa	Milano (MI) - IT -	00928670157	Assistant board Chairman	Withdrawn	Merged
C.c.t. Caldereria Costruzioni Termomeccaniche S.r.l.	Gazoldo degli Ippoliti (MN) - IT -	01555600202	Managing Director	Withdrawn	Ceased
C.c.t. Caldereria Costruzioni Termomeccaniche S.r.l.	Gazoldo degli Ippoliti (MN) - IT -	01555600202	Director	Withdrawn	Ceased
Albarella - Societa' Per Azioni O, In Forma Abbreviata, Albarella S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	00071270292	Managing Director	Active	Registered
Albarella - Societa' Per Azioni O, In Forma Abbreviata, Albarella S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	00071270292	Director	Active	Registered
Albarella - Societa' Per Azioni O, In Forma Abbreviata, Albarella S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	00071270292	Managing Director	Withdrawn	Registered
Edilacciai S.r.l.	- -	01040490391	Managing Director	Withdrawn	Ceased
Edilacciai S.r.l.	- -	01040490391	Director	Withdrawn	Ceased
Edilacciai S.r.l.	- -	01040490391	Board Chairman	Withdrawn	Ceased
Fingem - S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	01477080202	Managing Director	Withdrawn	Merged
Fingem - S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	01477080202	Director	Withdrawn	Merged
Marcegaglia Futures-societa' Per AzioniO, In Forma Abbreviata: Marcegaglia Futu	Gazoldo degli Ippoliti (MN) - IT -	01533010201	Managing Director	Withdrawn	Ceased
Marcegaglia Futures-societa' Per AzioniO, In Forma Abbreviata: Marcegaglia Futu	Gazoldo degli Ippoliti (MN) - IT -	01533010201	Director	Withdrawn	Ceased
Gabetti Property Solutions S.p.a.	Milano (MI) - IT -	81019220029	Director	Active	Registered
Gabetti Property Solutions S.p.a.	Milano (MI) - IT -	81019220029	Memb.of the Executive Committee	Active	Registered
Finecobank Banca Fineco S.p.a. O In Forma Abbreviata Finecobank S .p.a., Ovvero	Milano (MI) - IT -	01392970404	Director	Withdrawn	Registered
Finecogroup S.p.a. O In Forma Abbreviata Fineco S.p.a.	Milano (MI) - IT -	01386760175	Director	Withdrawn	Merged
Euroenergy Group S.r.l.	Lainate (MI) - IT -	01657620207	Director	Withdrawn	Registered
S.c.a.i S.r.l.	Rosolina (RO) - IT -	00042900290	Sole Director	Withdrawn	Ceased
Albarsport Hotel S.r.l.	Rosolina (RO) - IT -	00071290290	Sole Director	Withdrawn	Ceased
V.rem S.r.l. - In Liquidazione	Rosolina (RO) - IT -	00962310298	Director	Withdrawn	Ceased
V.rem S.r.l. - In Liquidazione	Rosolina (RO) - IT -	00962310298	Liquidator	Withdrawn	Ceased
V.rem S.r.l. - In Liquidazione	Rosolina (RO) - IT -	00962310298	Board Chairman	Withdrawn	Ceased
Nuova Forsidera - S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	03225900103	Managing Director	Withdrawn	Ceased
Nuova Forsidera - S.p.a.	Gazoldo degli Ippoliti (MN) - IT -	03225900103	Director	Withdrawn	Ceased
Il Sole 24 Ore Netweb S.p.a.	Milano (MI) - IT -	11904690150	Director	Withdrawn	Ceased
Euro Energy Daunia -s.r.l.	Foggia (FG) - IT -	02343770711	Director	Withdrawn	Ceased
Pugnochiuso Gruppo Marcegaglia - S.r.l.	Gazoldo degli Ippoliti (MN) - IT -	01944440203	Managing Director	Active	Registered
Pugnochiuso Gruppo Marcegaglia - S.r.l.	Gazoldo degli Ippoliti (MN) - IT -	01944440203	Director	Active	Registered
Fuelco Uno S.r.l.	Gallarate (VA) - IT -	02593630128	Director	Withdrawn	Ceased
Almar S.r.l.	Rosolina (RO) - IT -	00815580295	Managing Director	Withdrawn	Ceased
Gaia Turismo S.r.l.	Milano (MI) - IT -	05774780968	Managing Director	Active	Registered
Gaia Turismo S.r.l.	Milano (MI) - IT -	05774780968	Director	Active	Registered
Gaia Turismo S.r.l.	Milano (MI) - IT -	05774780968	Board Chairman	Active	Registered
Mm Gulf S.r.l.	Cisliano (MI) - IT -	05670530962	Director	Withdrawn	Registered
Mm Gulf S.r.l.	Cisliano (MI) - IT -	05670530962	Board Chairman	Withdrawn	Registered
Cuore D'italia Societa' Consortile A R.l. In Liquidazione	Sommacampagna (VR) - IT -	03668090230	Director	Withdrawn	Ceased
M.i.t.a. Resort S.r.l.	Pula (CA) - IT -	09628330012	Director	Active	Registered
M.i.t.a. Resort S.r.l.	Pula (CA) - IT -	09628330012	Board Chairman	Active	Registered
Arete' Onlus Per Il Sostegno Dell'attivita' Dell'universita' Vita-salute San Raf	Milano (MI) - IT -	97267640155	Director	Active	Registered
Arete' Onlus Per Il Sostegno Dell'attivita' Dell'universita' Vita-salute San Raf	Milano (MI) - IT -	97267640155	Board Chairman	Active	Registered
Siderfactor S.p.a. In Liquidazione	Milano (MI) - IT -	04158610966	Director	Withdrawn	Ceased
Arendi S.r.l. - In Liquidazione	Gallarate (VA) - IT -	02078830201	Director	Withdrawn	Registered
Turismo E Immobiliare S.p.a. In Liquidazione	Milano (MI) - IT -	04607580968	Director	Withdrawn	Ceased
Turismo E Immobiliare S.p.a. In Liquidazione	Milano (MI) - IT -	04607580968	Board Chairman	Withdrawn	Ceased
M.i.t.a. Mediterranea Iniziative Turistiche Alberghiere Resort S. R.l. O In Form	Cagliari (CA) - IT -	04917590962	Director	Withdrawn	Merged
M.i.t.a. Mediterranea Iniziative Turistiche Alberghiere Resort S. R.l. O In Form	Cagliari (CA) - IT -	04917590962	Board Chairman	Withdrawn	Merged

The indication "REGISTERED" as Firm Status could refer to Firms in Liquidation, Active, Inactive, etc.

For more information, in this case, we advise to request further investigations.

Capital Shareholders

Shareholders' list as at date of data collection:

Firm's Style / Name	Seat / Residence	Fiscal Code	Owned Shares	% Ownership
Marcegaglia Antonio	Gazoldo degli Ippoliti - IT -	MRCNTN63T12E897L		3,68
Marcegaglia Emma	Mantova - IT -	MRCMME65T64E897Q		3,68
Marfin s.r.l.	Gazoldo degli Ippoliti - IT -	01477070203		67,19
Marcegaglia Ireland Ltd				25,44

Direct Participations

The Company under review has participations in the following Companies:

Firm's Style	Seat	Fiscal Code	Owned Shares Amount	% Ownership	since	until	Share Status
Oto S.p.a.	Boretto - IT -	00908590359	578.435 .Eur	70,00			Active
Siderfactor S.p.a. In Liquidazione	Milano - IT -	04158610966	876.000 .Eur	73,00			Ceased
Delna S.p.a.	Brivio - IT -	00341940138	227.572 .Eur	11,37			Active
Immobilindustria S.p.a.	Mantova - IT -	00492540208	5.000 .Eur	0,25			Active
Allu's S.p.a.	Sesto Al Reghena - IT -	06194590011	1.000.000 .Eur	33,33			Active
Agenzia Per La Promozione E Lo Sviluppo Sostenibile Dell'area Metropolitana Di M	Milano - IT -	02370910966	10.360 .Eur	0,55			Active
Immobiliare Siderurgica S.r.l.	Milano - IT -	12243660151	5.380 .Eur	5,43			Active
Marcegaglia Energy Societa' A Responsabi lita' Limitata O, In Forma Abbreviata M	Gazoldo degli Ippoliti - IT -	01610480202	1.000 .Eur	1,00			Ceased
Elet.ca Societa' A Responsabilita' Limit ata O, In Forma Abbreviata Elet.ca S.r.	Gazoldo degli Ippoliti - IT -	01864180201	99.000 .Eur	99,00			Active
Alitalia - Compagnia Aerea Italiana S.p. a	Fiumicino - IT -	02500880121	5.921.243 .Eur	0,88			Active
Gaia Turismo S.r.l.	Milano - IT -	05774780968	9.100 .Eur	91,00			Active
Mariven S.r.l.	Gazoldo degli Ippoliti - IT -	02238870204	65.000 .Eur	65,00			Active
Turismo E Immobiliare S.p.a. In Liquidaz ione	Milano - IT -	04607580968	60.000 .Eur	50,00			Ceased
Palazzo Dell'agricoltura S.r.l.	Poggio Rusco - IT -	02256310208	10.000 .Eur	50,00			Active
I.m.a.t. S.p.a.	Fontanafredda - IT -	00074650938		100,00			Active
Albarella - Societa' Per Azioni O, In Fo rma Abbreviata, Albarella S.p.a.	Gazoldo degli Ippoliti - IT -	00071270292	2.600.000 .Eur	100,00			Active
S.i.m. - Societa' Italiana Marmitte S.r .l. In Forma Abbreviata Sim S.r.l.	Teramo - IT -	00696290675	390.000 .Eur	50,00			Active
Cermet - Certificazione E Ricerca Per La Qualita' Soc. Cons. A R.l.	Granarolo dell'Emilia - IT -	03502820370	210 .Eur	0,05			Active
Per.form - Societa' Consortile A Respons abilita' Limitata	Asti - IT -	01067750057	250 .Eur	0,13			Active
Made - Ambiente Sicurezza Qualita' S.r.l .	Zola Predosa - IT -	03779410376	10.000.000 .Eur	100,00			Active
E.t.a. - Energie Tecnologie Ambiente So cieta' Per Azioni (in Forma Abbreviata E	Crotone - IT -	10223350157	11.725.120 .Eur	100,00			Active
Consorzio Manufatti Stradali Metallici - Co.ma.st. In Liquidazione	Roma - IT -	04808231007					Active
Steam Generators S.r.l.	Gazoldo degli Ippoliti - IT -	01956810202	100.000 .Eur	100,00			Active
"Investimenti Lombardi S.R.L."		02680780125	100.000 .Eur	100,00			Active
Gas Intensive Soc. Consortile A Responsa bilita' Limitata	Milano - IT -	03305420964	1.000 .Eur	0,41			Active
Made Hse S.r.l.	Gazoldo degli Ippoliti - IT -	02247940204	99.000 .Eur	99,00			Active
Consorzio Stabile Gestioni Ambientali So Cieta' Consortile A Responsabilita' Limi	Massafra - IT -	02513040739					Active

Firm's location and structure

In order to carry out its activities the firm uses the following locations:

Legal and operative seat

Dei Bresciani

, 16

- 46040

- Gazoldo degli Ippoliti

(MN)

- IT -

PHONE

: 03766851

PHONE

: 037684601

FAX

: 0376685600

Legal mail

: marcegagliaspa@legalmail.it

Branch

(Factory)

since 01/01/2007

Basse

, 15

- 36056

- Tezze sul Brenta

(VI)

- IT -

PHONE

: 037684601

PHONE

: 01437761

PHONE

: 0141680800

PHONE

: 03752891

PHONE

: 0543470111

PHONE

: 03992211

PHONE

: 02486981

PHONE

: 049680011

PHONE

: 0544516611

PHONE

: 0431624111

PHONE

: 0424535400

FAX

: 0143776353

FAX

: 0140930957

FAX

: 0399221395

FAX

: 024500671

FAX

: 049680132

FAX

: 0431624222

FAX

: 0424535451

Branch

(Factory)

since 01/01/1984

Sabbionetana C.m.

- 26041

- Casalmaggiore

(CR)

- IT -

Branch

since 25/09/1985

Mattei

, 20

- 47034

- Forlimpopoli

(FO)

- IT -

Branch

(Factory)

since 01/07/2006

Antonio Canova

, 36

- 20020

- Lainate

(MI)

- IT -

PHONE

: 029379251

FAX

: 0293792599

Branch

(Factory)

since 06/02/1985

Baiona

, 141

- 48100

- Ravenna

(RA)

- IT -

PHONE

: 0544516611

Branch

(office)

since 01/01/1999

Milano

, 41

- 22050

- Lomagna

(LC)

- IT -

Branch

(office)

since 01/01/1999

Industria

, 42

- 14010

- Dusino San Michele

(AT)

- IT -

Branch

(office)

since 01/01/1999

Marcegaglia

, 2

- 24040

- Boltiere

(BG)

- IT -

Branch

(Factory)

since 02/11/2005

Delle Roveri

, 4

- 15068

- Pozzolo Formigaro

(AL)

- IT -

Branch

(Sales office)

since 01/07/2006

Friuli

, 9/11

- 40024

- Castel San Pietro Terme

(BO)

- IT -

Branch

(Factory)

since 01/12/2006

Zorutti

, 13/A

- 33074

- Fontanafredda

(PN)

- IT -

Branch

since 01/01/1984

Contino

, C.M.

- 46049

- Volta Mantovana

(MN)

- IT -

Branch

(office)

since 01/01/1999

Antonio Canova

, 7/9

- 20094

- Corsico

(MI)

- IT -

Branch

(office)

since 01/01/1999

Battaglia

, 85

- 35020

- Albignasego

(PD)

- IT -

Branch

(Factory)

since 01/01/2003

Ludovico Ariosto

, 10

- 74100

- Taranto

(TA)

- IT -

Branch

(Factory)

since 01/02/2003

Enrico Fermi

, 33

- 33058

- San Giorgio di Nogaro

(UD)

- IT -

Employees

: 3.705

Fittings and Equipment for a value of 240.720.000

Eur

Stocks for a value of 1.395.730.000

Eur

Work in progress for a value of 9.340.000

Eur

The firm operates abroad as importer / exporter..

To purchase foreign products the firm uses the following channels :

- distributors

- trading companies

- direct orders to foreign companies

Export represents up to 20% of the global turnover.

Products abroad are placed by :

- importers

- trading companies

- its own agents

- its own foreign branches

- direct orders from foreign companies

Import comes generally from the following nations:

- Greece

- Austria

- Italy

Export is mainly towards:

- Italy

- Belgium

- Ireland

- Austria

- France

- Great Britain

Historical Information and/or Firm's Status

COMPANY STYLE MODIFICATIONS:

Former Style	New Style	Changement Date
Gruppo Marcegaglia SpA		16/12/1983

EX-MEMBERS / EX-POSITIONS:

Ceresetti

Enrico

Born in Pisogne

(BS)

on 30/03/1950

Residence:

Aldo Moro

, 1

- 25055

Pisogne

(BS)

- IT -

Ex-Postions

Attorney with special power

Marcegaglia

Steno

Born in San Giovanni Ilarione

(VR)

on 09/08/1930

- Fiscal Code : MRCSTN30M09H916T

Residence:

G. Marconi

, 174

- 46040

Gazoldo degli Ippoliti

(MN)

- IT -

Ex-Postions

Chairman

Bazzani

Palmira

Born in Piadena

(CR)

on 08/03/1938

- Fiscal Code : BZZPMR38C48G536W

Residence:

Marconi

, 174

- 46040

Gazoldo degli Ippoliti

(MN)

- IT -

Ex-Postions

Managing Director

Director

Marcegaglia

Antonio

Born in MANTOVA

(MN)

on 12/12/1963

- Fiscal Code : MRCNTN63T12E897L

Residence:

MARCONI

, 174

- 46040

Gazoldo degli Ippoliti

(MN)

- IT -

Ex-Postions

Managing Director

Director

Marcegaglia

Emma

Born in Mantova

(MN)

on 24/12/1965

- Fiscal Code : MRCMME65T64E897Q

Residence:

Virgiliana

, 5

- 46100

Mantova

(MN)

- IT -

Ex-Postions

Managing Director

Director

Grasso

Marco

Born in Asti

(AT)

on 10/06/1954

- Fiscal Code : GRSMRC54H10A479J

Residence:

Machiavelli

, 7

- 14100

Asti

(AT)

- IT -

Ex-Postions

Attorney with special power

Prati

Paolo

Born in Forli'

(FO)

on 07/05/1944

- Fiscal Code : PRTPLA44E07D704R

Residence:

Della Commenda

, 5

- 47100

Forli'

(FO)

- IT -

Ex-Postions

Attorney with special power

Bragagni

Mauro

Born in Piombino

(LI)

on 04/02/1951

- Fiscal Code : BRGMRA51B04G687R

Residence:

Enrico De Nicola

, 22

- 57025

Piombino

(LI)

- IT -

Ex-Postions

Attorney with special power

Cappelli

Antonio

Born in Verucchio

(FO)

on 13/11/1943

- Fiscal Code : CPPNTN43S13L797T

Residence:

Europa

, 33

- 46100

Mantova

(MN)

- IT -

Ex-Postions

Attorney with special power

Mondadori

Maurizio

Born in Roncoferraro

(MN)

on 30/06/1958

- Fiscal Code : MNDMRZ58H30H541T

Residence:

Duchessa Marianna

, 15

- 20080

Besate

(MI)

- IT -

Ex-Postions

Attorney with special power

Olivo

Marco

Born in Udine

(UD)

on 07/05/1970

- Fiscal Code : LVOMRC70E07L483G

Residence:

Montegrappa

, 25/2C

- 33031

Basiliano

(UD)

- IT -

Ex-Postions

Procurator

Colombo

Mattia

Born in Treviglio

(BG)

on 12/07/1980

- Fiscal Code : CLMMTT80L12L400Z

Residence:

Trento

, 53

- 24047

Treviglio

(BG)

- IT -

Ex-Postions

Attorney with special power

Zini

Stefano

Born in Treviglio

(BG)

on 13/03/1980

- Fiscal Code : ZNISFN80C13L400W

Residence:

Monteverdi

, 1

- 26035

Pieve San Giacomo

(CR)

- IT -

Ex-Postions

Attorney with special power

Mercanti

Lucio

Born in Medole

(MN)

on 03/04/1943

- Fiscal Code : MRCLCU43D03F086B

Residence:

Corrado

, 52

- 46100

Mantova

(MN)

- IT -

Ex-Postions

Chairman of the Board of Aud.

Permanent Auditor

TIBERINI

GIULIO

Born in BOLOGNA

(BO)

on 12/01/1948

- Fiscal Code : TBRGLI48A12A944V

Residence:

DUCHESSA BEATRICE

, 64/3

- 14019

Villanova d'Asti

(AT)

- IT -

Ex-Postions

Attorney with special power

Favero

Fabio

Born in Padova

(PD)

on 13/05/1967

- Fiscal Code : FVRFBA67E13G224E

Residence:

Rizzo

, 6

- 35100

Padova

(PD)

- IT -

Ex-Postions

Attorney with special power

Mondadori

Maurizio

Born in Roncoferraro

(MN)

on 30/06/1958

- Fiscal Code : MNDMRZ58H30H541T

Residence:

Duchessa Marianna

, 15

- 20080

Besate

(MI)

- IT -

Ex-Postions

Attorney with special power

Formaglio

Lorenzo

Born in SARONNO

(VA)

on 29/11/1967

- Fiscal Code : FRMLNZ67S29I441A

Residence:

Sedicesima Strada

, 19

- 20020

Cesate

(MI)

- IT -

Ex-Postions

Attorney with special power

Nevi

Cristiano

Born in Viadana

(MN)

on 02/04/1968

- Fiscal Code : NVECST68D02L826J

Residence:

Mondini

, 5

- 46010

Redondesco

(MN)

- IT -

Ex-Postions

Attorney with special power

Molinari

Giacomo

Born in Alessandria

(AL)

on 16/03/1960

- Fiscal Code : MLNGCM60C16A182R

Residence:

Gramsci

, 4

- 15068

Pozzolo Formigaro

(AL)

- IT -

Ex-Postions

Attorney with special power

Technical Manager

Di Salvo

Mario

Born in Palermo

(PA)

on 01/01/1949

- Fiscal Code : DSLMRA49A01G273P

Residence:

Matteotti

, 8

- 20121

Milano

(MI)

- IT -

Ex-Postions

Procurator

GASTALDELLO

ADRIANO

Born in MAJANO

(UD)

on 13/10/1947

- Fiscal Code : GSTDRN47R13E833G

Residence:

COLLE DI COT

, 7

- 33030

Majano

(UD)

- IT -

Ex-Postions

Procurator

Giol

Luciano

Born in Tradate

(VA)

on 10/04/1958

- Fiscal Code : GLILCN58D10L319O

Residence:

Verdi

, 25

- 24040

Boltiere

(BG)

- IT -

Ex-Postions

Procurator

Sola

Silvio

Born in La Loggia

(TO)

on 24/04/1957

- Fiscal Code : SLOSLV57D24E423H

Residence:

Della Chiesa

, 25/9

- 10040

La Loggia

(TO)

- IT -

Ex-Postions

Attorney with special power

Valentini

Osvaldo

Born in BERGAMO

(BG)

on 06/03/1963

- Fiscal Code : VLNSLD63C06A794J

Residence:

Ravasio

, 3

- 24036

Ponte San Pietro

(BG)

- IT -

Ex-Postions

Attorney with special power

Fiorini

Aldo

Born in Mantova

(MN)

on 03/09/1974

- Fiscal Code : FRNLDA74P03E897S

Residence:

80 Fanteria

, 12

- 46040

Rodigo

(MN)

- IT -

Ex-Postions

Attorney with special power

Saccone

Vito

Born in Centuripe

(EN)

on 11/01/1951

- Fiscal Code : SCCVTI51A11C471S

Residence:

Carlo Maina

, 19

- 10046

Poirino

(TO)

- IT -

Ex-Postions

Procurator

CEASINGS/INCORPORATIONS/MERGES:

Project of merging by taking over of

Brollo Profilati S.p.a.

Filippo Da Desio

, 0075

, 20033

, Desio

(MI)

- IT -

Fiscal Code: 00792100158

Date

Merging/splitting-up project:

24/06/1998

The firm absorbed by merging of

Fingem - S.p.a.

Bresciani

, 16

, 46040

, Gazoldo degli Ippoliti

(MN)

- IT -

Fiscal Code: 01477080202

Date

16/12/1998

Project of merging by taking over of

C.c.t. Caldereria Costruzioni Termomeccaniche S.r.l.

Dei Bresciani

, 16

, 46040

, Gazoldo degli Ippoliti

(MN)

- IT -

Fiscal Code: 01555600202

Date

Merging/splitting-up project:

08/07/2002

The firm absorbed by merging of

C.c.t. Caldereria Costruzioni Termomeccaniche S.r.l.

Dei Bresciani

, 16

, 46040

, Gazoldo degli Ippoliti

(MN)

- IT -

Fiscal Code: 01555600202

Date

18/12/2002

Project of merging by taking over of

Marcegaglia Finanziaria - S.p.a.

Dei Bresciani

, 16

, 46040

, Gazoldo degli Ippoliti

(MN)

- IT -

Fiscal Code: 01534930209

Date

Merging/splitting-up project:

12/06/2003

The firm absorbed by merging of

Marcegaglia Finanziaria - S.p.a.

Dei Bresciani

, 16

, 46040

, Gazoldo degli Ippoliti

(MN)

- IT -

Fiscal Code: 01534930209

Date

15/12/2003

Project of merging by taking over of

Ponteggi Dalmine Spa

Della Casa Giovanni

, 0012

, 20151

, Milano

(MI)

- IT -

Fiscal Code: 00928670157

Date

Merging/splitting-up project:

13/09/2005

The firm absorbed by merging of

Ponteggi Dalmine Spa

Della Casa Giovanni

, 0012

, 20151

, Milano

(MI)

- IT -

Fiscal Code: 00928670157

Date

03/04/2006

Project of merging by taking over of

E.t.a.- Euro Tubi Acciaio Spa

Di Porta Vittoria

, 47

, 20122

, Milano

(MI)

- IT -

Fiscal Code: 10919750157

Date

Merging/splitting-up project:

30/01/2006

The firm absorbed by merging of

E.t.a.- Euro Tubi Acciaio Spa

Di Porta Vittoria

, 47

, 20122

, Milano

(MI)

- IT -

Fiscal Code: 10919750157

Date

15/06/2006

Project of merging by taking over of

Trisider Societa' Per Azioni O In FormaAbbreviata Trisider S.p.a.

Bresciani

, 16

, 46040

, Gazoldo degli Ippoliti

(MN)

- IT -

Fiscal Code: 00329200240

Date

Merging/splitting-up project:

30/06/2006

The firm absorbed by merging of

O.m.f. Officine Meccaniche Fiume VenetoSocieta' A Responsabilita' Limitata O, I

Bresciani

, 16

, 46040

, Gazoldo degli Ippoliti

(MN)

- IT -

Fiscal Code: 01048670390

Date

22/11/2006

The firm absorbed by merging of

Trisider Societa' Per Azioni O In FormaAbbreviata Trisider S.p.a.

Bresciani

, 16

, 46040

, Gazoldo degli Ippoliti

(MN)

- IT -

Fiscal Code: 00329200240

Date

24/07/2006

The firm absorbed by merging of

Trisider Societa' Per Azioni O In FormaAbbreviata Trisider S.p.a.

Bresciani

, 16

, 46040

, Gazoldo degli Ippoliti

(MN)

- IT -

Fiscal Code: 00329200240

Date

19/12/2006

Project of merging by taking over of

Marcegaglia Futures-societa' Per AzioniO, In Forma Abbreviata: Marcegaglia Futu

Dei Bresciani

, 16

, 46040

, Gazoldo degli Ippoliti

(MN)

- IT -

Fiscal Code: 01533010201

Date

Merging/splitting-up project:

30/06/2007

The firm absorbed by merging of

Marcegaglia Futures-societa' Per AzioniO, In Forma Abbreviata: Marcegaglia Futu

Dei Bresciani

, 16

, 46040

, Gazoldo degli Ippoliti

(MN)

- IT -

Fiscal Code: 01533010201

Date

29/11/2007

The firm absorbed by merging of

Marcegaglia Futures-societa' Per AzioniO, In Forma Abbreviata: Marcegaglia Futu

Dei Bresciani

, 16

, 46040

, Gazoldo degli Ippoliti

(MN)

- IT -

Fiscal Code: 01533010201

Date

25/09/2008

Project of merging by taking over of

"Investimenti Lombardi S.R.L."

Fiscal Code: 02680780125

Date

Merging/splitting-up project:

28/06/2010

Resolution of merging of

"Investimenti Lombardi S.R.L."

Fiscal Code: 02680780125

Date

30/09/2010

The firm absorbed by merging of

"Investimenti Lombardi S.R.L."

Fiscal Code: 02680780125

Date

20/12/2010

Protests

Protests checking on the subject firm has given a negative result.

Data Base Prejudicial Events Search

Search performed on a National Scale

Prejudicial Events Search Result: NEGATIVE

Search performed on a specialized data base.

Legal Procedures

None reported, standing to the latest received edition of the Official Publications.

Bankers

The firm operates with:

Bank Name	Agency Name	Address	ZIP Code	City	ABI Code	CAB Code
B.CA NAZIONALE DEL LAVORO SPA	MANTOVA	PIAZZA FELICE CAVALLOTTI,3	46100	Mantova (MN)	1005	11500

Financial and Economical Analysis

The company is active since 1984

The analysis is based on the latest 3 balance sheets.

Under an economic point of view, profits were registered during the last years with a r.o.e. of 2,97% in 2011 with a good increase in turnover (+14,46% in 2011 compared to 2010 and +52,37% in 2010 compared to 2009).

The operating result was positive in the last financial year (4,5%) and in line with the sector's average.

An operating result of Eur. 134.199.212 has been registered. with a 35,86% growth.

The economic management produced a gross operating margin of Eur. 210.625.320 , stable if compared to the year before.

The analysis shows a fair financial position as the indebtedness volume is acceptable (2,21) even though on the increase if compared to 2010.

It's shareholders funds amount to Eur. 776.424.732 , unchanged as opposed to the preceding year.

During the last financial year total debts volume reached Eur. 2.125.536.058 (Eur. 391.528.272 were m/l term ones) , rising as opposed to the previous year (+22,17%).

The recourse to bank credit is slightly high and also borrowings from suppliers appear to be high, with an average payment period equal to 100,24 gg. even if it still falls within the sector's average.

It shows a good range of liquidity.

Accounts receivable average term is 4,89 days. , lower than the sector's average.

During financial year 2011 the cash flow amounted to Eur. 99.488.885

In the last financial year labour cost was of Eur. 195.781.872, with a 5,07% incidence on total costs of production. , whereas the incidence of such costs on sales revenues is equal to 5,25%.

The incidence of the financial charges is of -1,07% on the sales amount.

Financial Data

Complete balance-sheet for the year

31/12/2011

(in Eur

x 1)

Item Type	Value
Sales	3.732.258.099
Profit (Loss) for the period	23.062.777

Complete balance-sheet for the year

31/12/2010

(in Eur

x 1)

Item Type	Value
Sales	3.260.661.107
Profit (Loss) for the period	25.474.900

Complete balance-sheet for the year

31/12/2009

(in Eur

x 1)

Item Type	Value
Sales	2.139.854.576
Profit (Loss) for the period	28.513.033

Complete balance-sheet for the year

31/12/2008

(in Eur

x 1)

Item Type	Value
Sales	3.767.042.034
Profit (Loss) for the period	30.485.965

Complete balance-sheet for the year

31/12/2007

(in Eur

x 1)

Item Type	Value
Sales	3.498.324.353
Profit (Loss) for the period	79.095.247

Balance Sheets

From our constant monitoring of the relevant Public Administration offices, no more recent balance sheets result to have been filed.

- Balance Sheet as at 31/12/2011 - 12 Mesi - Currency: - Amounts x 1

- Balance Sheet as at 31/12/2010 - 12 Mesi - Currency: - Amounts x 1

- Balance Sheet as at 31/12/2009 - 12 Mesi - Currency: - Amounts x 1

Years

2011

2010

2009

BALANCE SHEET ACCOUNTS

ASSETS
CREDITS VS PARTNERS
. Deposits not yet withdrawn
. Deposits already withdrawn
Total credits vs partners
FIXED ASSETS
. INTANGIBLE FIXED ASSETS
. . Start-up and expansion expenses
. . Research,develop. and advert.expens.
. . Industrial patent rights	266.300	276.296	253.146
. . Concessions,licenses,trademarks,etc.
. . Goodwill	1.017.559	1.326.261	1.634.962
. . Assets in formation and advance paymen.	158.498	120.000
. . Other intangible fixed assets	1.863.074	2.180.110	2.501.292
. Total Intangible Fixed Assets	3.305.431	3.902.667	4.389.400
. TANGIBLE FIXED ASSETS
. . Real estate	209.861.204	210.979.648	195.036.696
. . Plant and machinery	225.595.341	174.885.976	144.524.015
. . Industrial and commercial equipment	15.128.651	12.720.093	13.902.958
. . Other assets	5.521.268	5.210.883	5.164.563
. . Assets under construction and advances	124.400.757	152.031.213	217.974.941
. Total Tangible fixed assets	580.507.221	555.827.813	576.603.173
. FINANCIAL FIXED ASSETS
. . Equity investments	411.996.516	350.723.386	316.000.136
. . . Equity invest. in subsidiary companies	350.439.414	292.993.394	238.021.179
. . . Equity invest. in associated companies	2.248.849	2.248.849	19.402.847
. . . Equity invest. in holding companies
. . . Equity invest. in other companies	59.308.253	55.481.143	58.576.110
. . Financial receivables	236.637	247.973	290.120
. . . . Within 12 months
. . . . Beyond 12 months	236.637	247.973	290.120
. . . Receivab due from subsidiaries
. . . . Within 12 months
. . . . Beyond 12 months
. . . Receivables due from assoc.comp.
. . . . Within 12 months
. . . . Beyond 12 months
. . . Receivables due from holding comp.
. . . . Within 12 months
. . . . Beyond 12 months
. . . Receivables due from third parties	236.637	247.973	290.120
. . . . Within 12 months
. . . . Beyond 12 months	236.637	247.973	290.120
. . Other securities
. . Own shares
. . . Total nominal value
. Total financial fixed assets	412.233.153	350.971.359	316.290.256
Total fixed assets	996.045.805	910.701.839	897.282.829
CURRENT ASSETS
. INVENTORIES
. . Raw materials and other consumables	576.729.477	565.459.122	467.469.683
. . Work in progress and semimanufactured	399.426.494	206.379.040	183.256.733
. . Work in progress on order			9.335.486
. . Finished goods	419.434.747	363.592.053	259.528.505
. . Advance payments	138.307	530.561	4.883.040
. Total Inventories	1.395.729.025	1.135.960.776	924.473.447
. CREDITS NOT HELD AS FIXED ASSETS
. . Within 12 months	500.566.023	458.098.730	492.507.494
. . Beyond 12 months	5.804.351	128.387
. . Trade receivables	50.705.490	48.092.101	40.572.143
. . . . Within 12 months	50.705.490	48.092.101	40.572.143
. . . . Beyond 12 months
. . Receivables due from subsid. comp.	308.338.952	289.272.228	252.833.268
. . . . Within 12 months	308.338.952	289.272.228	252.833.268
. . . . Beyond 12 months
. . Receivables due from assoc. comp.	1.564.335	1.553.976	983.668
. . . . Within 12 months	1.564.335	1.553.976	983.668
. . . . Beyond 12 months
. . Receivables due from holding comp.	2.942.930	5.591.034	44.602.140
. . . . Within 12 months	2.942.930	5.591.034	44.602.140
. . . . Beyond 12 months
. . Fiscal Receivables	30.160.999	4.874.929	21.778.287
. . . . Within 12 months	30.160.999	4.874.929	21.778.287
. . . . Beyond 12 months
. . Receivables for anticipated taxes	7.223.696	14.381.427	8.160.596
. . . . Within 12 months	1.419.345	14.253.040	8.160.596
. . . . Beyond 12 months	5.804.351	128.387
. . Receivables due from third parties	105.433.972	94.461.422	123.577.392
. . . . Within 12 months	105.433.972	94.461.422	123.577.392
. . . . Beyond 12 months
. Total Credits not held as fixed assets	506.370.374	458.227.117	492.507.494
. FINANCIAL ASSETS
. . Equity invest. in subsidiary comp.
. . Equity invest. in associated companies
. . Equity invest. in holding companies
. . Other equity investments	24.335.948	20.936.486	35.378.902
. . Own shares
. . . Total nominale value
. . Other securities	21.263.648	24.056.648	23.911.816
. Total Financial Assets	45.599.596	44.993.134	59.290.718
. LIQUID FUNDS
. . Bank and post office deposits	21.897.322	7.678.265	9.567.322
. . Checks			35.438
. . Banknotes and coins	30.485	29.649	39.793
. Total Liquid funds	21.927.807	7.707.914	9.642.553
Total current assets	1.969.626.802	1.646.888.941	1.485.914.212
ADJUSTMENT ACCOUNTS
. Discount on loans	14.539.030
. Other adjustment accounts		17.017.229
Total adjustments accounts	14.539.030	17.017.229	3.283.280
TOTAL ASSETS	2.980.211.637	2.574.608.009	2.386.480.321

LIABILITIES
STOCKHOLDERS' EQUITY
. Capital stock	58.876.440	58.876.440	58.876.440
. Additional paid-in capital	138.927.445	138.927.445	138.927.445
. Revaluation reserves	9.073.656	9.073.656	9.073.656
. Legal reserve	13.752.584	13.752.584	13.752.584
. Reserve for Own shares
. Statute reserves
. Other reserves	532.731.830	487.256.931	458.474.631
. Accumulated Profits (Losses)
. Profit( loss) of the year	23.062.777	25.474.900	28.513.033
. Advances on dividends
. Partial loss of the year Coverage
Total Stockholders'Equity	776.424.732	733.361.956	707.617.789
RESERVES FOR RISKS AND CHARGES
. . Reserve for employee termination indem.	1.902.074	1.706.835	1.428.505
. . Taxation fund, also differed	21.641.669	6.671.331	7.529.062
. . Other funds	29.771.344	66.689.129	50.702.114
Total Reserves for Risks and Charges	53.315.087	75.067.295	59.659.681
Employee termination indemnities	23.589.179	25.052.058	26.939.423
ACCOUNTS PAYABLE
. . . . Within 12 months	1.734.007.786	1.270.311.347	1.041.774.219
. . . . Beyond 12 months	391.528.272	469.445.681	548.792.908
. . Bonds
. . . . Within 12 months
. . . . Beyond 12 months
. . Convertible bonds repayable
. . . . Within 12 months
. . . . Beyond 12 months
. . Due to shareholders for financing
. . . . Within 12 months
. . . . Beyond 12 months
. . Due to banks	850.427.526	664.503.696	672.881.163
. . . . Within 12 months	459.372.846	195.058.015	124.088.255
. . . . Beyond 12 months	391.054.680	469.445.681	548.792.908
. . Due to other providers of finance
. . . . Within 12 months
. . . . Beyond 12 months
. . Advances from customers	2.345.539	2.499.088	17.479.908
. . . . Within 12 months	2.345.539	2.499.088	17.479.908
. . . . Beyond 12 months
. . Trade payables	978.963.729	905.784.710	762.889.724
. . . . Within 12 months	978.963.729	905.784.710	762.889.724
. . . . Beyond 12 months
. . Securities issued
. . . . Within 12 months
. . . . Beyond 12 months
. . Due to subsidiary companies	19.180.457	41.578.308	46.794.772
. . . . Within 12 months	19.180.457	41.578.308	46.794.772
. . . . Beyond 12 months
. . Due to associated companies	1.258.805	1.252.566	1.791.982
. . . . Within 12 months	1.258.805	1.252.566	1.791.982
. . . . Beyond 12 months
. . Due to holding companies	183.003	3.276.074
. . . . Within 12 months	183.003	3.276.074
. . . . Beyond 12 months
. . Due to the tax authorities	8.033.152	11.557.708	11.659.229
. . . . Within 12 months	8.033.152	11.557.708	11.659.229
. . . . Beyond 12 months
. . Due to social security and welfare inst.	10.178.787	9.440.793	8.318.000
. . . . Within 12 months	10.178.787	9.440.793	8.318.000
. . . . Beyond 12 months
. . Other payables	254.965.060	99.864.085	68.752.349
. . . . Within 12 months	254.491.468	99.864.085	68.752.349
. . . . Beyond 12 months	473.592
Total accounts payable	2.125.536.058	1.739.757.028	1.590.567.127
ADJUSTMENT ACCOUNTS
. Agio on loans
. Other adjustment accounts	1.346.581	1.369.672
Total adjustment accounts	1.346.581	1.369.672	1.696.301
TOTAL LIABILITIES	2.980.211.637	2.574.608.009	2.386.480.321

MEMORANDUM ACCOUNTS

Third party goods
Investment accounts	327.647.216
Risk accounts	918.201.513
Civil and fiscal norms relation

PROFIT AND LOSS ACCOUNTS

VALUE OF PRODUCTION
. Revenues from sales and services	3.732.258.099	3.260.661.107	2.139.854.576
. Changes in work in progress	248.890.149	123.797.064	83.266.924
. Changes in semi-manufact. products		-9.335.486	-16.290
. Capitalization of internal work			3.688.434
. Other income and revenues	14.747.290	13.298.184	13.702.162
. . Contributions for operating expenses	2.363.658	1.142.105	913.053
. . Different income and revenues	12.383.632	12.156.079	12.789.109
Total value of production	3.995.895.538	3.388.420.869	2.240.495.806
PRODUCTION COSTS
. Raw material,other materials and consum.	3.140.911.736	2.701.099.443	1.381.553.910
. Services received	424.772.244	396.112.507	350.889.936
. Leases and rentals	24.262.190	14.450.105	15.766.226
. Payroll and related costs	195.781.872	183.870.327	166.981.009
. . Wages and salaries	137.764.202	130.153.332	116.784.031
. . Social security contributions	45.879.954	43.700.019	40.002.222
. . Employee termination indemnities	10.614.098	9.355.931	9.566.549
. . Pension and similar
. . Other costs	1.523.618	661.045	628.207
. Amortization and depreciation	76.426.108	67.594.633	61.664.357
. . Amortization of intangible fixed assets	1.038.838	1.125.264	1.137.058
. . Amortization of tangible fixed assets	72.200.595	63.338.097	56.964.039
. . Depreciation of tangible fixed assets
. . Writedown of current receiv.and of liquid	3.186.675	3.131.272	3.563.260
. Changes in raw materials	-11.270.355	-108.480.390	187.416.992
. Provisions to risk reserves		25.618.449	3.000.000
. Other provisions
. Other operating costs	10.812.531	9.382.701	5.301.727
Total production costs	3.861.696.326	3.289.647.775	2.172.574.157
Diff. between value and cost of product.	134.199.212	98.773.094	67.921.649
FINANCIAL INCOME AND EXPENSE
. Income from equity investments	1.382.741	2.772.002
. . In subsidiary companies
. . In associated companies
. . In other companies	1.382.741
. Other financial income	31.329.058	12.417.135
. . Financ.income from receivables	305
. . . Towards subsidiary companies
. . . Towards associated companies
. . . Towards holding companies
. . . Towards other companies	305
. . Financ.income from secur. t.f.assets
. . Financ.income from secur. cur.assets	765.269	664.983
. . Financ.income other than the above	30.563.484	11.752.152
. . . - Subsidiary companies	4.230.067
. . . - Associated companies
. . . - Holding companies	124.978
. . . - Other companies	26.208.439
. Interest and other financial expense	-72.621.495	-32.952.888	-34.835.302
. . Towards subsidiary companies	-612.323
. . Towards associated companies
. . Towards holding companies	-159.606
. . Towards other companies	72.621.495		-34.835.302
Total financial income and expense	-39.909.696	-17.763.751	-34.835.302
ADJUSTMENTS TO FINANCIAL ASSETS
. Revaluations			35.603.744
. . Of equity investments			35.603.744
. . Of financ.fixed assets not repres.E.I.
. . Of securities incl.among current assets
. Devaluation	-19.284.630	-35.729.781	-26.501.366
. . Of equity investments	-19.284.630	-35.729.781	-26.501.366
. . Of financial fixed assets (no equity inv)
. . Of securities included among current ass
Total adjustments to financial assets	-19.284.630	-35.729.781	9.102.378
EXTRAORDINARY INCOME AND EXPENSE
. Extraordinary income		4.777.148	1.676.272
. . Gains on disposals
. . Other extraordinary income		4.777.148	1.676.272
. Extraordinary expense	-14.696.508	-15.598.951
. . Losses on disposals
. . Taxes relating to prior years	-14.500.000
. . Other extraordinary expense	-196.508	-15.598.951
Total extraordinary income and expense	-14.696.508	-10.821.803	1.676.272
Results before income taxes	60.308.378	34.457.759	43.864.997
. Taxes on current income	37.245.601	8.982.859	15.351.964
. . current taxes	30.212.960	16.814.770	15.351.964
. . differed taxes(anticip.)	7.574.400	-7.578.562
. Net income for the period	23.062.777	25.474.900	28.513.033
. Adjustments in tax regulations pursuance
. Provisions in tax regulations pursuance
. Profit (loss) of the year	23.062.777	25.474.900	28.513.033

RATIOS	Value Type	as at 31/12/2011	as at 31/12/2010	as at 31/12/2009	Sector Average
COMPOSITION ON INVESTMENT
Rigidity Ratio	Units	0,33	0,35	0,38	0,33
Elasticity Ratio	Units	0,66	0,64	0,62	0,64
Availability of stock	Units	0,47	0,44	0,39	0,22
Total Liquidity Ratio	Units	0,19	0,20	0,24	0,41
Quick Ratio	Units	0,02	0,02	0,03	0,01
COMPOSITION ON SOURCE
Net Short-term indebtedness	Units	2,21	1,72	1,46	1,76
Self Financing Ratio	Units	0,26	0,28	0,30	0,28
Capital protection Ratio	Units	0,89	0,88	0,88	0,65
Liabilities consolidation quotient	Units	0,24	0,39	0,55	0,21
Financing	Units	2,74	2,37	2,25	2,32
Permanent Indebtedness Ratio	Units	0,40	0,48	0,54	0,44
M/L term Debts Ratio	Units	0,14	0,19	0,24	0,10
Net Financial Indebtedness Ratio	Units	1,07	0,90	0,94	1,23
CORRELATION
Fixed assets ratio	Units	1,20	1,35	1,43	1,38
Current ratio	Units	1,14	1,30	1,43	1,17
Acid Test Ratio-Liquidity Ratio	Units	0,33	0,40	0,54	0,80
Structure's primary quotient	Units	0,78	0,81	0,79	0,84
Treasury's primary quotient	Units	0,04	0,04	0,07	0,02
Rate of indebtedness ( Leverage )	%	383,84	351,07	337,26	353,85
Current Capital ( net )	Value	235.619.016	376.577.594	444.139.993	1.089.006
RETURN
Return on Sales	%	2,67	2,85	4,21	4,21
Return on Equity - Net- ( R.O.E. )	%	2,97	3,47	4,03	5,65
Return on Equity - Gross - ( R.O.E. )	%	7,77	4,70	6,20	10,45
Return on Investment ( R.O.I. )	%	4,50	3,84	2,85	5,10
Return/ Sales	%	3,60	3,03	3,17	5,37
Extra Management revenues/charges incid.	%	17,19	25,79	41,98	32,26
Cash Flow	Value	99.488.885	93.069.533	90.177.390	656.826
Operating Profit	Value	134.199.212	98.773.094	67.921.649	725.724
Gross Operating Margin	Value	210.625.320	191.986.176	129.616.006	1.207.677
MANAGEMENT
Credits to clients average term	Days	4,89	5,31	57,03	103,53
Debts to suppliers average term	Days	100,24	110,13	167,10	107,64
Average stock waiting period	Days	134,63	125,42	155,53	64,91
Rate of capital employed return ( Turnover )	Units	1,25	1,27	0,90	1,09
Rate of stock return	Units	2,67	2,87	2,31	5,55
Labour cost incidence	%	5,25	5,64	7,80	10,69
Net financial revenues/ charges incidence	%	-1,07	-0,54	-1,63	-1,62
Labour cost on purchasing expenses	%	5,07	5,59	7,69	11,43
Short-term financing charges	%	3,42	1,89	2,19	3,56
Capital on hand	%	79,85	78,96	111,53	91,63
Sales pro employee	Value	610.045	908.009	410.091	358.274
Labour cost pro employee	Value	32.000	51.203	32.001	35.860

Credit Opinion Determination

The credit opinion determination is divided into two phases :

1) Risk analysis (Score).

2) Reliability score identification.

Risk Analysis (Score)

On the base of precise indicators as "Activity sector", "Area", "Firm's foundation", "Payment analysis","Profitability", we analysed the companies included in the same activity sector of subject company, classifying them by their own risk score.

The company under review falls within the range of Low risk.

Reliability Score

Considering also subject's structural and behavioural characteristics its credit margin rate (from 0 to 100%) is equal to 79%, in respect of a sector average of 60%.

Credit Opinion

On the basis of the above mentioned, and the sales volume obtained, we deem that the maximum exposure for short and medium term transactions ( 90 - 120 days ) could be of:

250.000Eur.

Remarks

1) Protests checking (relative to the last five years) performed by crossing and matching the members names and the Firm's Style with the reported addresses, is supplied by the Informatic Registry managed by the Italian Chamber of Commerce. If the fiscal code is not indicated, the eventual homonymous cases are submitted to expert staff evaluation in order to limit wrong matching risks.

2) The Legal Data, supplied and retrived from the Firm's Registry of the Italian Chamber of Commerce, are in line with the last registered modifications.

3) Risk evaluation and Credit Opinion have been performed on the base of the actual data at the moment of their availability.

SOURCES

Our Company collects data from public registers, lists, archives or contained in Acts and/or documents (held by the National Chamber of Commerce or Immovables Territorial Agency), users, reporters or however generally accessible (for example, from categorical lists, statistical institutes, press reports and from public inspection internet sites).

The present report is supplied for Your exclusive use and is bond to the general conditions of the contract. Personal Data collection and treatment, reported, are conform to our company's activities and to Your mandate conferred to us by Your request, for the purposes in relation to Marketing Management, Sales and Monetary Administration. It does not contain, nor could contain, information cancelled by a justified opposition right.

Market / Territory Data

Population living in the province	:	390.957
Population living in the region	:	9.393.092
Number of families in the region	:	3.858.736

Monthly family expences average in the region (in Eur..) :

- per food products	:	460
- per non food products	:	2.090
- per energy consume	:	114

Sector Data

The values are calculated on a base of 185 significant companies.

The companies cash their credits on an average of 104 dd.

The average duration of suppliers debts is about 108 dd.

The sector's profitability is on an average of 4,21%.

The labour cost affects the turnover in the measure of 10,69%.

Goods are held in stock in a range of 65 dd.

The difference between the sales volume and the resources used to realize it is about 1,09.

The employees costs represent the 11,43% of the production costs.

Statistical Detrimental Data

Statistcally the trade activity shows periods of crisis.

The area is statistically considered lowly risky.

In the region 50.886 protested subjects are found; in the province they count to 1.630.

The insolvency index for the region is 0,55, , while for the province it is 0,42.

Total Bankrupt companies in the province : 954.

Total Bankrupt companies in the region : 39.612.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.22
UK Pound	1	Rs.84.00
Euro	1	Rs.70.98

INFORMATION DETAILS

Report Prepared by :

SDA

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.

MIRA INFORM REPORT

Company name and address

Summary

Activity

Legal Data

Members

Direct Participations

Firm's location and structure

Historical Information and/or Firm's Status

Protests

Data Base Prejudicial Events Search

Legal Procedures

Bankers

Financial and Economical Analysis

Financial Data

Balance Sheets

Credit Opinion Determination

Risk Analysis (Score)

Reliability Score

Credit Opinion

Remarks

SOURCES

Market / Territory Data

Sector Data

Statistical Detrimental Data

Unit