MIRA INFORM REPORT

 

 

Report Date :

23.10.2013

 

IDENTIFICATION DETAILS

 

Name :

INEOS MANUFACTURING DEUTSCHLAND GMBH

 

 

Registered Office :

Alte Str. 201, D 50769 Köln

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

28.05.2002

 

 

Com. Reg. No.:

HRB 57260

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacturer of Chemical Products n.e.c.

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaint

 

 

Litigation :

Clear

 

 

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – March 31st, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

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 6.5% in 2012. GDP contracted 5.1% in 2009 but grew by 4.2% in 2010, and 3.0% in 2011, before dipping to 0.7% in 2012 - a reflection of low investment spending due to crisis-induced uncertainty and the decreased demand for German exports from recession-stricken periphery countries. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's total budget deficit - including federal, state, and municipal - to 4.1% in 2010, but slower spending and higher tax revenues reduced the deficit to 0.8% in 2011. In 2012 Germany reached a budget surplus of 0.1%. A constitutional amendment approved in 2009 limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016 though the target was already reached in 2012. By 2014, the federal government wants to balance its budget. Following the March 2011 Fukushima nuclear disaster, Chancellor Angela Merkel announced in May 2011 that eight of the country's 17 nuclear reactors would be shut down immediately and the remaining plants would close by 2022. Germany hopes to replace nuclear power with renewable energy. Before the shutdown of the eight reactors, Germany relied on nuclear power for 23% of its electricity generating capacity and 46% of its base-load electricity production.

 

Source : CIA

Comapny Name and address

 

INEOS Manufacturing Deutschland GmbH

 

Company Status:          Active

                                    Alte Str. 201

                                    D 50769 Köln

                                    Telephone:02133/55-1

                                    Telefax:  02133/55-7261

                                    Homepage: www.ineoskoeln.de

                                    E-mail:   info@ineoskoeln.de

 

VAT no.       

 

DE813544201

 

 

Tax ID number

 

271/5100/6760

 

 

Comapny Status

 

 LEGAL FORM              Private limited company

 Date of foundation:       28.05.2002

 Shareholders'

 agreement:                   28.05.2002

 Registered on:             03.03.2006

 Commercial Register:   Local court 50939 Köln

 under:                          HRB 57260

 

 

Share capital                         

 

EUR             25,000.00

 

 

Shareholder

                      INEOS Deutschland GmbH

                      Alte Str. 201

                      D 50769 Köln

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Share:             EUR             25,000.00

                      Registered on: 22.08.2005

                      Reg. data: 50939 Köln, HRB 61258

                      Profit transfer agreement

 Manager:

                      Dr. Patrick Giefers

                      D 50259 Pulheim

                      authorized to jointly represent the company

                      born: 19.10.1968

                      Profession: Lawyer

                      Marital status: unknown

 Manager:

                      Dr. Axel Göhrt

                      D 45721 Haltern am See

                      having sole power of representation

                      born: 23.07.1963

                      Profession: Chemist

                      Marital status: unknown

 Proxy:

                      Dr. Carsten Schuster

                      Ausleger 31

                      D 50374 Erftstadt

                      authorized to jointly represent the company

                      born: 24.06.1960

 Proxy:

                      Christoph Hunfeld

                      D 41539 Dormagen

                      authorized to jointly represent the company

                      born: 02.01.1963

 Proxy:

                      Andreas Pangsin

                      D 50769 Köln

                      authorized to jointly represent the company

                      born: 11.05.1973

 Proxy:

                      Frank Linius

                      D 48734 Reken

                      authorized to jointly represent the company

                      born: 27.12.1963

 

 Further functions/participations of Dr. Patrick Giefers (Manager)

 Manager:

                      INEOS Deutschland Holding GmbH

                      Alte Str. 201

                      D 50769 Köln

                      Legal form: Private limited company

                      Share capital:     EUR             26,000.00

                      Registered

                      on:         15.01.2009

                      Reg. data:  50939 Köln, HRB 64857

 Manager:

                      INEOS Köln GmbH

                      Alte Str. 201

                      D 50769 Köln

                      Legal form: Private limited company

                      Share capital:     EUR            530,000.00

                      Registered

                      on:         28.05.2002

                      Reg. data:  50939 Köln, HRB 37428

 Manager:

                      Ineos Köln Verwaltungs GmbH

                      Alte Str. 201

                      D 50859 Köln

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         18.01.2007

                      Reg. data:  50939 Köln, HRB 59517

 Manager:

                      INEOS Deutschland GmbH

                      Alte Str. 201

                      D 50769 Köln

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         22.08.2005

                      Reg. data:  50939 Köln, HRB 61258

 Proxy:

                      ARG Verwaltungs GmbH

                      Philosophenweg 31-33

                      D 47051 Duisburg

                      Legal form: Private limited company

                      Share capital:     EUR             27,000.00

                      Registered

                      on:         12.12.2002

                      Reg. data:  47051 Duisburg, HRB 10401

 

 Further functions/participations of Dr. Axel Göhrt (Manager)

 Manager:

                      INEOS Deutschland Holding GmbH

                      Alte Str. 201

                      D 50769 Köln

                      Legal form: Private limited company

                      Share capital:     EUR             26,000.00

                      Registered

                      on:         15.01.2009

                      Reg. data:  50939 Köln, HRB 64857

 Manager:

                      INEOS Köln GmbH

                      Alte Str. 201

                      D 50769 Köln

                      Legal form: Private limited company

                      Share capital:     EUR            530,000.00

                      Registered

                      on:         28.05.2002

                      Reg. data:  50939 Köln, HRB 37428

 Manager:

                      Ineos Köln Verwaltungs GmbH

                      Alte Str. 201

                      D 50859 Köln

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         18.01.2007

                      Reg. data:  50939 Köln, HRB 59517

 Manager:

                      INEOS Deutschland GmbH

                      Alte Str. 201

                      D 50769 Köln

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         22.08.2005

                      Reg. data:  50939 Köln, HRB 61258

 

 

COMPANY HISTORY

 

 28.05.2002 - 12.11.2002  Aral Energie Service GmbH

                          Wittener Str. 45

                          D 44789 Bochum

                          Private limited company

 12.11.2002 - 28.02.2005  JEWEL Services GmbH

                          Max-Born-Str. 2

                          D 22761 Hamburg

                          Private limited company

 28.02.2005 - 03.03.2006  Innovene Manufacturing Deutschland GmbH

                          Max-Born-Str. 2

                          D 22761 Hamburg

                          Private limited company

 03.03.2006 - 16.06.2006  Innovene Manufacturing Deutschland GmbH

                          Alte Str. 201

                          D 50769 Köln

                          Private limited company

 

 

RESIGNED ACTING PERSONS AND SHAREHOLDERS

 

 15.03.2007 - 07.02.2011  Manager

                          Dr. Hans-Jürgen Bister

                          D 41460 Neuss

 

 

BUSINESS ACTIVITIES

 

 Main industrial sector

 20590   Manufacture of other chemical products n.e.c.

 

 Secondary industrial sector

 4675    Wholesale of chemical products

70109   Other activities of head offices

82999   Other business support service activities n. e. c.

 

 

BRANCHES AND FACTORIES

 

Branch:

                      INEOS Manufacturing Deutschland GmbH

                      Paul-Baumann-Str. 1

                      D 45772 Marl

                      TEL.: 02365/490

 

 

PARTICIPATIONS

 

Shareholder:

                      INEOS Köln GmbH

                      Alte Str. 201

                      D 50769 Köln

                      Legal form:         Private limited company

                      Company Status:            active

                      Share capital:     EUR            530,000.00

                      Share:                 EUR            530,000.00

                      Reg. data:           28.05.2002

                                                Local court 50939 Köln

                                                HRB 37428

 

 

FINANCIAL INFORMATION

 

Payment experience:  within agreed terms

 

Negative information:We have no negative information at hand.

 

Balance sheet year:  2012

 

 

REAL ESTATE

 

Type of ownership:        Tenant

Address                        Alte Str. 201

                                    D 50769 Köln

 

 Real Estate of:             Dr. Axel Göhrt

 Type of ownership:       unknown

 Address                       Morgengraben 3

                                    D 51061 Köln

 

 Land register documents were not available.

 

 

BANKERS

 

 COMMERZBANK, BOCHUM

 Sort. code: 43040036, BIC: COBADEFF430

 DEUTSCHE BANK, HAMBURG

 Sort. code: 20070000, BIC: DEUTDEHHXXX

 COMMERZBANK VORMALS DRESDNER BANK, HAMBURG

 Sort. code: 20080000, BIC: DRESDEFF200

 

 

FINANCIAL FIGURES

 

 Turnover:            2011               EUR        667,436,988.00

                      2012               EUR        651,394,744.00

 Profit:              2011               EUR         22,454,934.00

                      2012               EUR         -3,665,482.00

 further business figures:

 Equipment:                              EUR          6,710,361.00

 Ac/ts receivable:                       EUR        289,111,248.00

 Liabilities:                            EUR         98,993,185.00

 The number of employees is not known.

 

 Profit transfer agreement to:

                                    INEOS Deutschland GmbH

                                    Alte Str. 201

                                    D 50769 Köln

 

 

 BALANCE SHEETS

 

 Balance sheet ratios 01.01.2012 - 31.12.2012

 Equity ratio [%]:                       83.73

 Liquidity ratio:                          3.85

 Return on total capital [%]:        -0.49

 

 Balance sheet ratios 01.01.2011 - 31.12.2011

 Equity ratio [%]:                       83.47

 Liquidity ratio:                          3.41

 Return on total capital [%]:       2.98

 

 Balance sheet ratios 01.01.2010 - 31.12.2010

 Equity ratio [%]:                       82.77

 Liquidity ratio:                          3.57

 Return on total capital [%]:       2.57

 

 Balance sheet ratios 01.01.2009 - 31.12.2009

 Equity ratio [%]:                       86.15

 Liquidity ratio:                          3.51

 Return on total capital [%]:       3.84

 

 Equity ratio

 The equity ratio indicates the portion of the equity as compared

 to the total capital. The higher the equity ratio, the better the

 economic stability (solvency) and thus the financial autonomy of

 a company.

 

 Liquidity ratio

 The liquidity ratio shows the proportion between adjusted

 receivables and net liabilities. The higher the ratio, the lower

 the company's financial dependancy from external creditors.

 

 Return on total capital

 The return on total capital shows the efficiency and return on

 the total capital employed in the company. The higher the return

 on total capital, the more economically does the company work

 with the invested capital.

 

 

Type of balance sheet:                    Company balance sheet

 

Financial year:                           01.01.2012 - 31.12.2012

 

 ASSETS                                  EUR        750,486,488.00

  Fixed assets                           EUR        448,839,165.00

   Intangible assets                     EUR            708,878.00

    Concessions, licences, rights        EUR            708,878.00

   Tangible assets                       EUR        419,934,951.00

    Land / similar rights                EUR         21,855,977.00

    Plant / machinery                    EUR        299,263,536.00

    Other tangible assets / fixtures and

    fittings                             EUR          6,710,361.00

    Advance payments made / construction

    in progress                          EUR         92,105,077.00

   Financial assets                      EUR         28,195,336.00

    Shares in participations /

    subsidiaries and the like            EUR         27,744,192.00

     Shares in related companies         EUR          2,635,000.00

     Shares in investee companies        EUR         25,109,192.00

    Other loans                          EUR            451,144.00

  Current assets                         EUR        300,578,353.00

   Stocks                                EUR          9,928,096.00

    Raw materials, consumables and

    supplies                             EUR          9,851,619.00

    Finished goods / work in progress    EUR             76,477.00

   Accounts receivable                   EUR        289,111,248.00

    Trade debtors                        EUR          4,028,832.00

    Amounts due from related companies   EUR        241,333,570.00

    Amounts due from investee companies  EUR              1,983.00

    Other debtors and assets             EUR         43,746,863.00

   Liquid means                          EUR          1,539,009.00

  Remaining other assets                 EUR          1,068,970.00

   Accruals (assets)                     EUR          1,068,970.00

 

 LIABILITIES                             EUR        750,486,488.00

  Shareholders' equity                   EUR        605,923,006.00

   Capital                               EUR             25,000.00

    Subscribed capital (share capital)   EUR             25,000.00

   Reserves                              EUR        605,898,006.00

    Capital reserves                     EUR        551,263,617.00

    Retained earnings / revenue reserves EUR         54,634,389.00

  Provisions                             EUR         45,570,297.00

   Provisions for taxes                  EUR         19,958,900.00

   Other / unspecified provisions        EUR         25,611,397.00

  Liabilities                            EUR         98,993,185.00

   Other liabilities                     EUR         98,993,185.00

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR         60,603,873.00

    Liabililties due to related companiesEUR         24,340,052.00

    Unspecified other liabilities        EUR         14,049,260.00

     thereof liabilities from tax /

     financial authorities               EUR         13,457,604.00

 

 PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

 Code (HGB)

  Sales                                  EUR        651,394,744.00

  Inventory change + own costs (+/-)     EUR         12,051,109.00

   Inventory change (+/-)                EUR             40,810.00

   Capitalised own costs                 EUR         12,010,299.00

  Other operating income                 EUR         11,737,144.00

  Cost of materials                      EUR        297,595,837.00

   Raw materials and supplies, purchased

   goods                                 EUR        297,595,837.00

  Gross result (+/-)                     EUR        377,587,160.00

  Total depreciation                     EUR         79,292,940.00

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR         79,292,940.00

  Other operating expenses               EUR        305,209,613.00

  Operating result from continuing

  operations                             EUR         -6,915,393.00

  Result from participating interests

  (+/-)                                  EUR         18,735,133.00

   Expenses / income from participations EUR         18,735,133.00

    Income from transfer of profits      EUR         15,144,394.00

    Income from related companies        EUR          3,590,739.00

  Interest result (+/-)                  EUR         -5,766,779.00

   Interest and similar income           EUR            233,560.00

    thereof from related companies       EUR             89,831.91

   Interest and similar expenses         EUR          6,000,339.00

  Other financial result                 EUR             17,258.00

   Income from securities and loans from

   financial assets                      EUR             17,258.00

  Financial result (+/-)                 EUR         12,985,612.00

  Result from ordinary operations (+/-)  EUR          6,070,219.00

  Other extraordinary income             EUR                 -1.00

  Income from assumption of loss by

  parent company                         EUR          3,665,482.00

  Income tax / refund of income tax (+/-)EUR         -9,157,278.00

  Other taxes / refund of taxes          EUR           -578,422.00

  Tax (+/-)                              EUR         -9,735,700.00

  Annual surplus / annual deficit        EUR                  0.00

 

 

 Type of balance sheet:                   Company balance sheet

 

 Financial year:                          01.01.2011 - 31.12.2011

 

 ASSETS                                  EUR        752,774,003.81

  Fixed assets                           EUR        444,666,855.06

   Intangible assets                     EUR            963,361.00

    Concessions, licences, rights        EUR            963,361.00

   Tangible assets                       EUR        415,276,009.50

    Land / similar rights                EUR         27,060,226.62

    Plant / machinery                    EUR        328,351,554.90

    Other tangible assets / fixtures and

    fittings                             EUR          8,108,285.00

    Advance payments made / construction

    in progress                          EUR         51,755,942.98

   Financial assets                      EUR         28,427,484.56

    Shares in participations /

    subsidiaries and the like            EUR         27,812,191.53

     Shares in related companies         EUR          2,635,000.00

     Shares in investee companies        EUR         25,177,191.53

    Other loans                          EUR            615,293.03

  Current assets                         EUR        306,641,194.84

   Stocks                                EUR         10,561,993.81

    Raw materials, consumables and

    supplies                             EUR         10,526,326.54

    Finished goods / work in progress    EUR             35,667.27

   Accounts receivable                   EUR        295,679,262.84

    Trade debtors                        EUR          5,603,748.62

    Amounts due from related companies   EUR        268,712,918.44

    Amounts due from investee companies  EUR             79,499.14

    Other debtors and assets             EUR         21,283,096.64

   Liquid means                          EUR            399,938.19

  Remaining other assets                 EUR          1,465,953.91

   Accruals (assets)                     EUR          1,465,953.91

 

 LIABILITIES                             EUR        752,774,003.81

  Shareholders' equity                   EUR        605,923,005.55

   Capital                               EUR             25,000.00

    Subscribed capital (share capital)   EUR             25,000.00

   Reserves                              EUR        605,898,005.55

    Capital reserves                     EUR        551,263,616.52

    Retained earnings / revenue reserves EUR         54,634,389.03

  Provisions                             EUR         37,388,462.96

   Other / unspecified provisions        EUR         37,388,462.96

  Liabilities                            EUR        109,462,535.30

   Other liabilities                     EUR        109,462,535.30

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR         86,618,958.62

    Liabililties due to related companiesEUR         22,459,753.95

    Unspecified other liabilities        EUR            383,822.73

     thereof liabilities from tax /

     financial authorities               EUR            267,615.23

 

 PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

 Code (HGB)

  Sales                                  EUR        667,436,988.48

  Inventory change + own costs (+/-)     EUR         10,095,570.80

   Inventory change (+/-)                EUR            -17,338.09

   Capitalised own costs                 EUR         10,112,908.89

  Other operating income                 EUR         12,611,512.22

  Cost of materials                      EUR        279,345,749.55

   Raw materials and supplies, purchased

   goods                                 EUR        279,345,749.55

  Gross result (+/-)                     EUR        410,798,321.95

  Total depreciation                     EUR         75,996,944.43

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR         75,996,944.43

  Other operating expenses               EUR        330,195,217.11

  Operating result from continuing

  operations                             EUR          4,606,160.41

  Result from participating interests

  (+/-)                                  EUR         17,360,161.19

   Expenses / income from participations EUR         17,360,161.19

    Income from transfer of profits      EUR         13,909,521.01

    Income from related companies        EUR          3,450,640.18

  Interest result (+/-)                  EUR          1,062,495.64

   Interest and similar income           EUR          1,076,635.15

    thereof from related companies       EUR            908,526.62

   Interest and similar expenses         EUR             14,139.51

    thereof paid to related companies    EUR                  0.00

  Other financial result                 EUR             24,352.39

   Income from securities and loans from

   financial assets                      EUR             24,352.39

  Financial result (+/-)                 EUR         18,447,009.22

  Result from ordinary operations (+/-)  EUR         23,053,169.63

  Expenses for transfer of profits to a

  parent company                         EUR         22,454,934.44

  Income tax / refund of income tax (+/-)EUR            -32,864.55

  Other taxes / refund of taxes          EUR           -565,370.64

  Tax (+/-)                              EUR           -598,235.19

  Annual surplus / annual deficit        EUR                  0.00

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.78

UK Pound

1

Rs.99.66

Euro

1

Rs.84.49

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIT

 

 

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.