MIRA INFORM REPORT

Report Date :

29.10.2013

IDENTIFICATION DETAILS

Name :	TROUW NUTRITION HIFEED B.V.

Registered Office :	Veerstraat 38 5831JN Boxmeer

Country :	Netherlands

Financials (as on) :	31.12.2012

Date of Incorporation :	23.02.1990

Com. Reg. No.:	38021507

Legal Form :	Private Company

Line of Business :	Wholesale of mixed and concentrate feeds

No. of Employees :	19

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)

Netherlands

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

NETHERLANDS - ECONOMIC OVERVIEW

The Dutch economy is the sixth-largest economy in the euro-zone and is noted for its stable industrial relations, moderate unemployment and inflation, a sizable trade surplus, and an important role as a European transportation hub. Industrial activity is predominantly in food processing, chemicals, petroleum refining, and electrical machinery. A highly mechanized agricultural sector employs only 2% of the labor force but provides large surpluses for the food-processing industry and for exports. The Netherlands, along with 11 of its EU partners, began circulating the euro currency on 1 January 2002. After 26 years of uninterrupted economic growth, the Dutch economy - highly dependent on an international financial sector and international trade - contracted by 3.5% in 2009 as a result of the global financial crisis. The Dutch financial sector suffered, due in part to the high exposure of some Dutch banks to U.S. mortgage-backed securities. In 2008, the government nationalized two banks and injected billions of dollars of capital into other financial institutions, to prevent further deterioration of a crucial sector. The government also sought to boost the domestic economy by accelerating infrastructure programs, offering corporate tax breaks for employers to retain workers, and expanding export credit facilities. The stimulus programs and bank bailouts, however, resulted in a government budget deficit of 5.3% of GDP in 2010 that contrasted sharply with a surplus of 0.7% in 2008. The government of Prime Minister Mark RUTTE began implementing fiscal consolidation measures in early 2011, mainly reductions in expenditures, which resulted in an improved budget deficit in 2011. In 2012 tax revenues dropped nearly 9%, GDP contracted, and the budget deficit deteriorated. Although jobless claims continued to grow, the unemployment rate remained relatively low at 6.8 percent

Source : CIA

CONTACT INFORMATION

Company name	Trouw Nutrition Hifeed B.V.
Tradename	Trouw Nutrition Hifeed B.V.
	Hendrix
	Selko
	Milkivit
	Nutreco
Address	Veerstraat 38
	5831JN Boxmeer
	Netherlands
Mail address	Postbus 234
	5830AE BOXMEER
	Netherlands
Telephone number	0485 589988
Telefax number	0485 575567
E-mail address	tnhifeed@nutreco.com
Website	www.trouwnutrition.net
VAT number / RSIN	007436944

Company summary

Legal form	Private Company
Place of constitution	Boxmeer
Capital	EUR 90.000
Issued capital	EUR 18.000
Paid up capital	EUR 18.000

NACE-code Wholesale of mixed and concentrate feeds (51214)

SBI-code Wholesale of mixed and concentrate feeds (46214)

Formal objective Trading, and import and export of particular feed, concentrates, premixes
and raw materials and other goods. The provision of services, including transfer of knowledge, in the agricultural sector to others

Employees	Total: 19
Bookyear		2012	2011	2007
Number		19	11	11
Change		72,73%	0,00%	0,00%

COMPANY STRUCTURE

Shareholder Nutreco Netherlands B.V.

Veerstraat 38

5831JN Boxmeer

Netherlands

KvK: 16058721 A

ctive since: 12-10-2011

Percentage: 100.00%

Ultimate parent company

Nutreco N.V.

Veerstraat 38

5831JN Boxmeer

KvK:16074305

Holding company

Nutreco Netherlands

B.V. Veerstraat

38 5831JN Boxmeer

KvK: 16058721

Affiliated companies

Trouw Nutrition Netherlands B.V.

Nijverheidsweg 2

3881LA PUTINN

KvK: 08013919

Masterlab B.V. Nijverheidsweg 2

3881LA PUTINN

KvK: 08120541

Selko B.V.

Jellinghausstraat 22 5048AZ TILBURG

KvK: 18025624

Sloten Groep B.V.

Antwerpenweg 7

7418CR DEVENTER

KvK: 38018665

Liability declaration Nutreco N.V. (16074305)

Veerstraat 38

5831JN Boxmeer

Issue date: 23-06-1999

Since: 23-06-1999

Bank

Bank ABN Amro Bank NV

Account number: 44.53.71.196

Real estate

Group-property owned

The real estate is checked at the land registration office

Object code: BOXMEER L 2853

Owner: NUTRECO NETHERLANDS B.V.

Management

Nutreco Netherlands B.V.

Veerstraat 38

5831JN Boxmeer Netherlands

KvK: 16058721

Authorization: Jointly authorized

Position: Manager

Date appointed: 17-12-1998

R. Kiers Rob

Authorization: Jointly authorized

Position: Manager

Date appointed: 01-05-2011

Date of birth: 23-09-1980

H. de Wildt

Harm

Authorization: Jointly authorized

Position: Manager

Date appointed: 01-05-2011

Date of birth: 23-10-1962

Other directorships:

- Managing Director: Nutreco Netherlands B.V. - Boxmeer (KvK: 16058721)

H.A. van de Kolk

Henricus Antonius