MIRA INFORM REPORT

Report Date :

07.05.2013

IDENTIFICATION DETAILS

Name :	BF GERMANY GMBH

Registered Office :	Lehenfeld 22 D 71679 Asperg

Country :	Germany

Date of Incorporation :	03.12.2010

Com. Reg. No.:	HRB 735747

Legal Form :	Private limited company

Line of Business :	Manufacture of other parts and accessories for motor vehicles

No. of Employees :	80

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)

Germany

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

germany - ECONOMIC OVERVIEW

The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Like its Western European neighbors, Germany faces significant demographic challenges to sustained long-term growth. Low fertility rates and declining net immigration are increasing pressure on the country's social welfare system and necessitate structural reforms. Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, contributed to strong growth in 2006 and 2007 and falling unemployment. These advances, as well as a government subsidized, reduced working hour scheme, help explain the relatively modest increase in unemployment during the 2008-09 recession - the deepest since World War II - and its decrease to 6.0% in 2011. GDP contracted 5.1% in 2009 but grew by 3.6% in 2010, and 2.7% in 2011. The recovery was attributable primarily to rebounding manufacturing orders and exports - increasingly outside the Euro Zone. Germany's central bank projects that GDP will grow 0.6% in 2012, a reflection of the worsening euro-zone financial crisis and the financial burden it places on Germany as well as falling demand for German exports. Domestic demand is therefore becoming a more significant driver of Germany's economic expansion. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's budget deficit to 3.3% in 2010, but slower spending and higher tax revenues reduce the deficit to 1.7% in 2011, below the EU's 3% limit. A constitutional amendment approved in 2009 limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016. Following the March 2011 Fukushima nuclear disaster, Chancellor Angela Merkel announced in May 2011 that eight of the country's 17 nuclear reactors would be shut down immediately and the remaining plants would close by 2022. Germany hopes to replace nuclear power with renewable energy. Before the shutdown of the eight reactors, Germany relied on nuclear power for 23% of its energy and 46% of its base-load electrical production.

Source : CIA

Company name and address

BF GERMANY GMBH

Company Status: active

Lehenfeld 22

D 71679 Asperg

Telephone:07141/6084-0

Telefax: 07141/6084-90

Homepage: www.bf-germany.de

E-mail: info@bf-germany.de

VAT no.: DE274542135

CONCLUSION

Business relations are permissible.

LEGAL FORM Private limited company

Date of foundation: 03.12.2010

Shareholders'

agreement: 03.12.2010

Registered on: 08.12.2010

Commercial Register: Local court 70190 Stuttgart

under: HRB 735747

Share capital: EUR 3,000,000.00

Shareholder:

KSPG AG

Karl-Schmidt-Str. 2-8

D 74172 Neckarsulm

Legal form: Public limited company

Share capital: EUR 71,688,691.00

Share: EUR 3,000,000.00

Registered on: 29.06.2006

Reg. data: 70190 Stuttgart, HRB 109233

Control and profit transfer agreement

Manager:

Hans-Peter Türk

D 71522 Backnang

born: 09.12.1955

Manager:

Tobias Hocker

D 74072 Heilbronn

born: 08.01.1973

Proxy:

Sven Hettesheimer

D 71522 Backnang