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Report Date : |
05.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
OC OERLIKON TEXTILE SCHWEIZ AG, PFAFFIKON |
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Formerly Known As : |
OERLIKON SAURER |
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Registered Office : |
Churerstrasse 120, 8808 Pfäffikon/SZ/CH |
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Country : |
Switzerland |
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Financials (as on) : |
31.12.2012 |
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Year of Establishment : |
1850 |
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Com. Reg. No.: |
440.3.000.554-2 / 248681 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
· Manufacturer of machinery for textile, apparel and leather production · Subject is a high-tech industrial group specializing in machine and plant engineering. · provider of innovative industrial solutions and cutting-edge technologies for manmade fibers manufacturing, drive systems, vacuum, surface solutions and advanced nanotechnology. |
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No of Employees : |
96 (approximately) |
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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Switzerland |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SWITZERLAND - ECONOMIC OVERVIEW
Switzerland is a peaceful, prosperous, and modern market economy with low unemployment, a highly skilled labor force, and a per capita GDP among the highest in the world. Switzerland's economy benefits from a highly developed service sector, led by financial services, and a manufacturing industry that specializes in high-technology, knowledge-based production. Its economic and political stability, transparent legal system, exceptional infrastructure, efficient capital markets, and low corporate tax rates also make Switzerland one of the world's most competitive economies. The Swiss have brought their economic practices largely into conformity with the EU's to enhance their international competitiveness, but some trade protectionism remains, particularly for its small agricultural sector. The fate of the Swiss economy is tightly linked to that of its neighbors in the euro zone, which purchases half of all Swiss exports. The global financial crisis of 2008 and resulting economic downturn in 2009 stalled export demand and put Switzerland in a recession. The Swiss National Bank (SNB) during this period effectively implemented a zero-interest rate policy to boost the economy as well as prevent appreciation of the franc, and Switzerland's economy began to recover in 2010. The sovereign debt crises currently unfolding in neighboring euro-zone countries pose a significant risk to Switzerland's financial stability and are driving up demand for the Swiss franc by investors seeking a safe-haven currency. The independent SNB has upheld its zero-interest rate policy and conducted major market interventions to prevent further appreciation of the Swiss franc, but parliamentarians have urged it to do more to weaken the currency. The franc's strength has made Swiss exports less competitive and weakened the country's growth outlook; GDP growth fell below 2% per year during 2011-13. Switzerland has also come under increasing pressure from individual neighboring countries, the EU, the US, and international institutions to reform its banking secrecy laws. Consequently, the government agreed to conform to OECD regulations on administrative assistance in tax matters, including tax evasion. The government has renegotiated its double taxation agreements with numerous countries, including the US, to incorporate the OECD standard, and is considering the possibility of imposing taxes on bank deposits held by foreigners. These steps will have a lasting impact on Switzerland's long history of bank secrecy.
|
Source
: CIA |
Note:
Oerlikon Saurer has changed the name to OC Oerlikon Textile Schweiz AG,
Pfäffikon. Official address is "Churerstrasse 120, 8808 Pfäffikon".
OC Oerlikon
Textile Schweiz AG, Pfäffikon
Churerstrasse 120
8808 Pfäffikon/SZ
Switzerland/CH
Telephone: 058
3609696
Fax: 058
3609196
Web site: http://www.oerlikon.com
E-mail: info@oerlikon.com
VAT-No.: CHE108086164
Established: 1850
History: 1853: Established from Franz Saurer
Line of Business: Financial services, Machinery
Industry Division: Services, Manufacturing
Industry-code (NACE): 6499 Other financial
service activities, except insurance and pension funding n.e.c.
2894 Manufacture of machinery for textile,
apparel and leather production
Import/Export: Import, Export
Quality certification: ISO 9001:2000 (since 1994)
Banks: unknown
Coverage: Company
Figures: approximately
Employees: 96
The company is a high-tech industrial group specializing in machine and
plant engineering. The Company is a provider of innovative industrial solutions
and cutting-edge technologies for manmade fibers manufacturing, drive systems,
vacuum, surface solutions and advanced nanotechnology.
Real Estate: It
is understood that the company has extensive property holdings.
Company No: 440.3.000.554-2
/ 248681
Legal form: Company
limited by shares
Registration: 18.12.1990
Legal status: active
Responsible Register: Handelsregister des Kantons Schwyz
History: Date
of Statutes: 08.12.1993
Date of
Statutes: 12.06.2001
Date of
Statutes: 26.04.2006
Date of
Statutes: 23.09.2013
Date of
Statutes: 26.07.2007
Date of
Statutes: 04.05.2005
Date of
Statutes: 21.06.2013
Date of
Statutes: 28.04.2009
Date of
Incorporation Statutes: 30.11.1990
Entry Deleted Name
active OC
Oerlikon Textile Schweiz AG, Pfäffikon
active OC
Oerlikon Textile Schweiz SA, Pfäffikon (Name translated)
active OC
Oerlikon Textile Schweiz Ltd, Pfäffikon (Name translated)
removed Oerlikon Saurer Arbon AG
removed Oerlikon Saurer Arbon Ltd (Name translated)
removed Oerlikon Saurer Arbon SA (Name translated)
Entry Deleted Legal domicile
active Freienbach,
Switzerland
removed Arbon, Switzerland
Entry Deleted Address
active Churerstrasse
120, 8808 Pfäffikon SZ/SZ, Switzerland/CH
removed Textilstrasse 2, 9320 Arbon, Switzerland/CH
Entry Deleted Capital
active Share
Capital CHF 14,160,000, paidup CHF 14,160,000
Entry Deleted Capital Structure
active 14,160
Registered shares of CHF 1,000.--
Entry Deleted Activity (original Language)
active Zweck
der Gesellschaft ist der Erwerb, der Verkauf und die Verwaltung von
Beteiligungen an in- und ausländischen Industrie-, Handels- und
Finanz-Unternehmungen. Die Gesellschaft kann alle Geschäfte tätigen, die
unmittelbar oder mittelbar mit ihrem Zweck in Zusammenhang stehen oder diesen
zu fördern geeignet sind. Die Gesellschaft kann ihren direkten oder indirekten
Muttergesellschaften sowie deren direkten oder indirekten Tochtergesellschaften
entgeltlich oder unentgeltlich Darlehen oder andere Finanzierungen gewähren und
für die Verbindlichkeiten solcher Gruppengesellschaften Sicherheiten aller Art
stellen, einschliesslich Garantien, Pfandrechte und fiduziarische Übereignungen
von Aktiven der Gesellschaft.
removed Zweck des Unternehmens ist die Fabrikation
und der Verkauf von Textilmaschinen, insbesondere von Stick- und Spinnmaschinen
und Apparaten, sowie der direkte und indirekte Erwerb, das Halten, die
Finanzierung, das Verwalten und die Veräusserung von Beteiligungen an in- und
ausländischen Unternehmen aller Art und Branchen. Die Gesellschaft ist
berechtigt, ihre Tätigkeit auf weitere Branchen des Maschinen- und Apparatebaues
und ähnliche Geschäftszweige auszudehnen. Sie kann alle Geschäfte ausführen,
die mit dem vorgenannten Zweck oder mit der Anlage ihrer Mittel im Zusammenhang
stehen..Die Gesellschaft kann Liegenschaften erwerben, entwickeln, verwalten,
vermitteln und veräussern. Die Gesellschaft kann Zweigniederlassungen und
Betriebstätten im In- und Ausland errichten und Handel über Agenturen mit oder
ohne feste Geschäftseinrichtung abwickeln. Die Gesellschaft kann ihren direkten
oder indirekten Muttergesellschaften sowie deren direkten oder indirekten
Tochtergesellschaften entgeltlich oder unentgeltlich Darlehen oder andere
Finanzierungen gewähren und für die Verbindlichkeiten solcher
Gruppengesellschaften Sicherheiten aller Art stellen, einschliesslich
Garantien, Pfandrechte und fiduziarische Übereignungen von Aktiven der
Gesellschaft.
Entry Deleted Remarks (original Language)
active Publishing
authority: SHAB.
active Transfer:
Vermögensübertragung: Die Gesellschaft überträgt gemäss Vertrag vom 30.07.2010
Aktiven von CHF 15'378'164.28 und Passiven (Fremdkapital) von CHF 10'874'694.52
auf die Oerlikon Heberlein Temco Wattwil AG, in Wattwil (CH-320.3.000.852-3).
Gegenleistung: Keine.
active Merger:
Die Gesellschaft übernimmt bei der Kapitalerhöhung vom 12.06.2001 die Hamel AG,
in Arbon, durch Fusion. Aktiven von CHF 14'253'527.03 und Passiven von CHF
11'719'554.79 gehen gemäss Fusionsvertrag vom 07.06.2001 und Bilanz per
31.12.2000 durch Universalsukzession auf die Gesellschaft über. Der
Erhöhungsbetrag wurde entsprechend dem Fusionsvertrag liberiert. Die Aktionäre
der übernommenen Gesellschaft erhalten dafür 1'000 voll liberierte Namenaktien
zu CHF 1'000.-- der übernehmenden Gesellschaft.
active Merger:
Die Gesellschaft übernimmt auf dem Wege der Fusion die Société Immobilière
Garage du Pont-de-la-Morge SA, in Conthey. Aktiven von CHF 3'063'023.27 und
Passiven (Fremdkapital) von CHF 3'041'600.-- gehen gemäss Fusionsvertrag vom
15.12.2000 und Fusionsbilanz per 15.12.2000 durch Universalsukzession an die
Gesellschaft über, die bereits sämtliche Aktien der übernommenen Gesellschaft
besitzt. Dabei erlöschen diese Aktien, und das Aktienkapital der übernehmenden
Gesellschaft bleibt unverändert.
active Reports:
Die Mitteilungen an die Aktionäre erfolgen brieflich.
Title Name
President Jürg Fedier,
Origin: Silenen, Switzerland, Residential address: Richterswil, Switzerland,
joint signature of two
Director Mark
Mauerhofer, Origin: Kölliken, Switzerland, Residential address: Thalwil,
Switzerland, joint signature of two
Director Holger Uwe
Welzel, Origin: Frauenfeld, Switzerland, Residential address: Frauenfeld,
Switzerland, joint signature of two
Title Name
Member
with signing authority Sigrid
Stocker, Origin: Austria, Residential address: Zürich, Switzerland, joint
signature of two
Title Name
Auditor KPMG AG,
Residential address: Zürich, Switzerland
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2012 31.12.2011 31.12.2010 31.12.2009 31.12.2008
Number of months: 12 12 12 12 12
Currency: mil.
CHF mil. CHF mil. CHF mil. CHF mil.
CHF
Statement norm: IAS IAS IAS IAS IAS
Intangible fixed
assets 938.0 1,261.0 1,293.0 1,471.0 1,696.0
Land and buildings 288.0 407.0 435.0 566.0 570.0
Other tangible
fixed assets 430.0 508.0 507.0 571.0 708.0
Tangible fixed
assets 718.0 915.0 942.0 1,137.0 1,278.0
Financial fixed
assets 10.0 47.0 154.0 117.0 181.0
other fixed assets 114.0 111.0
Fixed assets 1,780.0 2,334.0 2,389.0 2,725.0 3,155.0
Stocks 388.0 582.0 468.0 534.0 901.0
Trade accounts
receivable 474.0 635.0 588.0 433.0 534.0
Liquid assets 638.0 742.0 751.0 357.0 393.0
Securities 16.0 8.0 38.0 20.0 43.0
other trade
accounts 845.0 252.0 220.0 248.0 416.0
Accruals 18.0 20.0 21.0 25.0 34.0
Other current
assets 1,517.0 1,022.0 1,030.0 650.0 886.0
Current assets 2,379.0 2,239.0 2,086.0 1,617.0 2,321.0
Total assets 4,159.0 4,573.0 4,475.0 4,342.0 5,476.0
Capital 326.0 323.0 323.0 283.0 283.0
Other shareholders
funds 1,532.0 1,263.0 1,107.0 210.0 810.0
Total shareholders
equity 1,858.0 1,586.0 1,430.0 493.0 1,093.0
Minority interests 24.0 24.0 24.0 27.0 25.0
long term debt
(financial debts) 304.0 832.0 1,025.0 11.0 2,039.0
Provisions 537.0 573.0 60.0 720.0 797.0
Other non current
liabilities 73.0 73.0 576.0 0.0 40.0
Non current
liabilities 914.0 1,478.0 1,661.0 731.0 2,876.0
short term debt
(financial debts) 3.0 24.0 53.0 2,043.0 56.0
Trade accounts
payable 287.0 928.0 754.0 332.0 455.0
Provisions 81.0 139.0 125.0 225.0 167.0
Accruals 199.0 271.0 245.0 232.0 373.0
other accounts
payable 793.0 123.0 183.0 259.0 431.0
other current
liabilities 1,073.0 533.0 553.0 716.0 971.0
Current
liabilities 1,363.0 1,485.0 1,360.0 3,091.0 1,482.0
Shareh. equity,
min. interests + liabilities 4,159.0 4,573.0 4,475.0 4,342.0 5,476.0
Net sales 2,906.0 4,182.0 3,601.0 2,246.0 4,014.0
Other operating
revenue 77.0 51.0 45.0 631.0 618.0
Operating revenue 2,983.0 4,233.0 3,646.0 2,877.0 4,632.0
Cost of goods sold 2,079.0 3,101.0 2,788.0 2,444.0 3,548.0
Gross profit 904.0 1,132.0 858.0 433.0 1,084.0
Other operating
expenses 483.0 713.0 807.0 1,022.0 1,143.0
Operating result 421.0 419.0 51.0 -589.0 -59.0
Interest revenues 5.0 7.0 4.0 8.0 13.0
other financial
revenues 46.0 5.0 126.0 0.0 0.0
Financial income 51.0 12.0 130.0 8.0 13.0
Interest expenses 58.0 84.0 115.0 165.0 122.0
other financial
expenses 80.0 32.0 73.0 -104.0 -198.0
Financial expenses 138.0 116.0 188.0 61.0 -76.0
Financial result -87.0 -104.0 -58.0 -53.0 89.0
Result before
extraordinary items 334.0 315.0 -7.0 -642.0 30.0
Extraordinary
income 162.0
Extraordinary
Result 162.0 0.0 0.0 0.0 0.0
Result before
taxes 496.0 315.0 -7.0 -642.0 -358.0
Taxes 111.0 91.0 -12.0 -50.0 56.0
Result before
minority interests 385.0 224.0 5.0 -592.0 -414.0
minority interests 3.0 4.0 2.0 0.0 3.0
Result for the
financial year 382.0 220.0 3.0 -592.0 -417.0
Depreciation 123.0 137.0 156.0 452.0 253.0
Cash flow 508.0 361.0 161.0 -140.0 -161.0
Cash flow from
operating activities 506.0 435.0 511.0 90.0 123.0
Investments in
tangible fixed assets 181.0 141.0 115.0 97.0 278.0
Cash flow from
investing activities 136.0 -283.0 -158.0 -18.0 -300.0
Cash flow from
financing activities -718.0 -172.0 73.0 -106.0 116.0
Others -6.0 6.0 -27.0 -2.0 -30.0
Change in
liquidity -82.0 -14.0 399.0 -36.0 -91.0
Liquidity at
beginning of the year 742.0 756.0 357.0 393.0 484.0
Liquidity at end
of the year 660.0 742.0 756.0 357.0 393.0
Material costs 2,079.0 3,101.0 2,788.0 2,444.0 3,548.0
Cost of employees 765.0 984.0 1,015.0 1,001.0 1,277.0
Research and
Development 106.0 213.0 229.0 210.0 246.0
Orders received 2,802.0 4,043.0 4,520.0 2,996.0 4,209.0
Added value 1,442.0 1,520.0 1,279.0 976.0 1,294.0
Working Capital 575.0 289.0 302.0 635.0 980.0
Sales per Employee 0.2 0.2 0.2 0.1 0.2
Market
capitalisation 3,374.0 1,625.0 1,583.1 448.0 976.0
Gross cost land
and buildings 500.0 692.0 698.0 794.0 935.0
Gross cost other
tangible fixed assets 1,217.0 1,411.0 1,341.0 1,429.0 1,429.0
Gross cost total 1,717.0 2,103.0 2,039.0 2,223.0 2,364.0
Insurance value
land and buildings 976.0 1,288.0 1,431.0 1,622.0 1,747.0
Insurance value
other tang. fixed assets 1,886.0 2,347.0 2,630.0 3,103.0 3,157.0
Insurance value
total 2,862.0 3,635.0 4,061.0 4,725.0 4,904.0
Employees at year end 12,708 17,227 16,657 16,369 18,372
Employees inland 928 925 996 1,316
Employees abroad 16,299 15,732 15,373 17,069
Name: OC
Oerlikon Corporation AG, Pfäffikon
City/Country: Pfäffikon/SZ, Switzerland/CH
No. of Owner/-s: 1
Owner: The
company is domestic owned.
Class: 100%
Type: direct,
Group-Level 2
Name: OC
Oerlikon Textile Holding AG, Pfäffikon
City/Country: Pfäffikon SZ/SZ, Switzerland/CH
Interest: 100,00%
voting right, 100,00% capital interest
Class: 50-100%
Type: indirect,
Group-Level 1
Name: OC
Oerlikon Corporation AG, Pfäffikon
City/Country: Pfäffikon/SZ, Switzerland/CH
Name: GTG
- Graziano Trasmissioni Group AG
City/Country: Arbon/TG, Switzerland/CH
Name: Oerlikon
Czech sro
City/Country: Cerveny Kostelec, Czech/CZ
Name: Oerlikon
Fibrevision Limited
City/Country: Cheshire/Macclesfield, United Kingdom/GB
Name: Oerlikon
Tekstil Middle East Tekstil Makinalari Dis Ticaret AS
City/Country: Istanbul, Turkey/TR
Name: Oerlikon
Textile Components Singapore Pte Ltd
City/Country: Singapur, Singapore/SG
Name: Oerlikon
Textile do Brasil Màquinas Ltda
City/Country: Sao Leopoldo, Brazil/BR
Name: OERLIKON
TEXTILE TRADING & SERVICES LIMITED
City/Country: Hongkong, Hong Kong/HK
Name: SAC
Saurer Automotive Components BV
City/Country: Rotterdam, Netherlands/NL
Name: Saurer
Group Investments Ltd
City/Country: George Town/Grand Cayman, Cayman Islands/KY
Name: Saurer
Holding GmbH
City/Country: Leonding, Austria/AT
Name: W.
Reiners Verwaltungs-GmbH
City/Country: Remscheid/Nordrhein-Westfalen, Germany/DE
Class: 100%
Name: OERLIKON
TEXTILE CHINA INVESTMENTS LIMITED
City/Country: Wanchai/Wanchai, Hong Kong/HK
Interest: 100,00%
voting right, 100,00% capital interest
Class: 100%
Name: Saurer
China Equity Ltd
City/Country: Hongkong, Hong Kong/HK
Interest: 100,00%
voting right, 100,00% capital interest
Class: 100%
Name: Saurer
Components AG
City/Country: Wattwil/SG, Switzerland/CH
Interest: 100,00%
voting right, 100,00% capital interest (since 2005)
Control date Year No. Amount CHF Status
24.11.2009 2009 0
An updated legal action check is only
available against proof of interest. e.g. a copy of an enquiry letter, and
order or invoice relating to the subject company.
Financial
Statements: The company does not
disclose any financial statements. Third parties are not permitted any insight
into the financial affairs. It is therefore difficult to make a proper
assessment of the actual situation.
Financial Situation: The
financial situation is considered to be good.
Payment experiences: Payments are
made with arranged conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.32 |
|
|
1 |
Rs.100.04 |
|
Euro |
1 |
Rs.82.65 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.