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Report Date : |
30.08.2014 |
IDENTIFICATION DETAILS
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Name : |
HUNTSMAN ADVANCED
MATERIALS (SWITZERLAND) GMBH |
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Registered Office : |
Klybeckstrasse 200 4057 Basel/BS Switzerland/CH |
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Country : |
Switzerland |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
10.07.2003 |
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Com. Reg. No.: |
10.07.2003 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject includes research, development, production and
distribution of products, which includes polymers or similar substances.
Areas: coatings, adhesives, tooling resins, insulation materials with
thermo-fixing polymers. |
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No. of Employees |
550 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Switzerland |
A1 |
A1 |
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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
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Source
: CIA |
HUNTSMAN ADVANCED MATERIALS (SWITZERLAND) GMBH
Klybeckstrasse 200 Production:
4057 Basel/BS Route
de l'Ile-aux-Bois
Switzerland/CH Case
postale 416
1870
Monthey 1/VS
Switzerland/CH
Telephone: 061
2991111 024
4746111
Fax: 061
2991112 024
4746409
Web site: http://www.huntsman.com/advanced_materials/
E-mail: info@huntsman.com
WIN Worldbox No.: CH0000140423
VAT-No.: CHE110141134
Established: 2000
Line of Business: Chemicals,
Plastics
Industry Division: Manufacturing
Industry-code (NACE): 2052 Manufacture of glues
2229 Manufacture of other plastic products
Import/Export: Export
Quality certification: ISO
9001:2000
ISO
14001
Banks: UBS
Ltd
CS
Credit Suisse
Coverage: Company
Employees: 550
Branches: 1
The business activities includes research, development,
production and distribution of products, which includes polymers or similar
substances. Areas: coatings, adhesives, tooling resins, insulation materials
with thermo-fixing polymers.
The headquarters of the Advanced Materials
division for Europe is located in Basel, as well as the research and
development department of textile chemicals business. In Monthey is a
production plant for Advanced Materials located.
Real Estate: The
company owns extensive property.
Company No: 270.4.013.542-0
/ 713445
Legal form: Limited
Liability Company
Registration: 10.07.2003
Legal status: active
Responsible Register: Handelsregister
des Kantons Basel-Stadt
History: Date
of Statutes: 06.04.2010
Date
of Statutes: 16.01.2004
Date
of Statutes: 01.07.2003
Date
of Incorporation Statutes: 01.07.2003
Entry Deleted Name
26.01.2004 Huntsman
Advanced Materials (Switzerland) GmbH
10.07.2003 26.01.2004 Vantico GmbH
Entry Deleted Legal domicile
10.07.2003 Basel,
Switzerland
Entry Deleted Address
10.07.2003 Klybeckstrasse
200, 4057 Basel/BS, Switzerland/CH
Entry Deleted Capital
10.07.2003 LLC
Capital CHF 1,500,000
Entry Deleted Capital Structure
13.03.2006 1
Participation shares of CHF 1,500,000.--
Title Name
General Manager Jan
Lelong, Origin: Belgium, Residential address: Pfastatt , France, single
signature, Registered since: 06.03.2013
General Manager Christophe
Struyvelt, Origin: Belgium, Residential address: Pellenberg, Belgium, single
signature, Registered since: 07.07.2005
General Manager Patrick
Albert Peter Verraes, Origin: Belgium, Residential address: Basel, Switzerland,
single signature, Registered since: 18.05.2010
General Manager Jörg
von Allmen, Origin: Lauterbrunnen, Switzerland, Residential address: Hölstein,
Switzerland, single signature, Registered since: 21.02.2012
General Manager Harald
Michael Wiedemann, Origin: Germany, Residential address: Weil am Rhein,
Germany, single signature, Registered since: 13.04.2010
Chairman of the management Scott
Jason Wright, Origin: United Kingdom, Residential address: Reinach/BL,
Switzerland, single signature, Registered since: 20.09.2011
Title Name
Auditor Deloitte
AG, Residential address: Basel, Switzerland, Registered since: 10.07.2003
Title Name
Chief Executive Officer Scott
Jason Wright
HUNTSMAN CORPORATION
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2012 31.12.2011 31.12.2010 31.12.2009
Number of months: 12 12 12 12
Currency: th.
USD th. USD th. USD th. USD
Balance Sheet
Intangible fixed
assets 185,000.0 205,000.0 199,000.0 219,000.0
Tangible fixed
assets 3,745,000.0 3,622,000.0 3,605,000.0 3,516,000.0
Financial fixed
assets 240,000.0 207,000.0 241,000.0 258,000.0
other fixed assets 595,000.0 677,000.0 661,000.0 493,000.0
Fixed assets 4,765,000.0 4,711,000.0 4,706,000.0 4,486,000.0
Stocks 1,819,000.0 1,539,000.0 1,396,000.0 1,184,000.0
Liquid assets 387,000.0 554,000.0 966,000.0 1,745,000.0
Current assets 4,119,000.0 3,946,000.0 4,008,000.0 4,140,000.0
Total assets 8,884,000.0 8,657,000.0 8,714,000.0 8,626,000.0
Total shareholders
equity 1,773,000.0 1,662,000.0 1,790,000.0 1,844,000.0
Minority interests 123,000.0 114,000.0 60,000.0 21,000.0
long term debt
(financial debts) 3,418,000.0 3,734,000.0 3,627,000.0 3,545,000.0
Provisions 972,000.0 833,000.0 699,000.0 696,000.0
Other non current
liabilities 417,000.0 488,000.0 485,000.0 709,000.0
Non current
liabilities 4,807,000.0 5,055,000.0 4,811,000.0 4,950,000.0
Current liabilities 2,181,000.0 1,826,000.0 2,053,000.0 1,811,000.0
Shareh. equity, min.
interests + liabilities 8,884,000.0 8,657,000.0 8,714,000.0 8,626,000.0
Profit and loss account
Net sales 11,187,000.0 11,221,000.0 9,250,000.0 7,763,000.0
Operating result 773,000.0 609,000.0 249,000.0 723,000.0
Result for the
financial year 363,000.0 247,000.0 27,000.0 114,000.0
Name: HUNTSMAN
CORPORATION
City/Country: SALT
LAKE CITY, United States of America/US
No. of Owner/-s: 1
Owner: The
company is foreign owned.
Class: 100%
Type: indirect,
Group-Level 1
Name: HUNTSMAN
CORPORATION
City/Country: SALT
LAKE CITY, United States of America/US
Interest: 100,00%
voting right, 100,00% capital interest
Class: 100%
Type: direct
Name: Huntsman
Advanced Materials (Netherlands) B.V.
City/Country: Botlek
Rotterdam, Netherlands/NL
Capital share: CHF
1,500,000.--
Interest: 100,00%
voting right, 100,00% capital interest (since 13.03.2006)
Class: 20-29%
Name: ProRheno
AG
City/Country: Basel/BS,
Switzerland/CH
Interest: 23,00%
voting right, 23,00% capital interest
Control date Year No. Amount CHF Status
05.03.2014 2014 0
04.03.2013 2013 1 90,001,832.-- Legal actions
04.03.2013 2012 1 1,457.-- Paid legal actions
04.03.2013 2012 1 90,000,000.-- Opposition filed
04.03.2013 2011 2 107,585.-- Open legal actions
04.03.2013 2011 3 13,567.-- Paid legal actions
04.03.2013 2011 2 115,000,000.-- Opposition filed
04.03.2013 2010 1 1,153.-- Legal actions
04.03.2013 2010 1 264.-- Paid legal actions
04.03.2013 2010 1 13,534.-- Paid legal actions
04.03.2013 2010 1 448.-- Paid legal actions
04.03.2013 2010 1 510.-- Paid legal actions
04.03.2013 2009 1 6,194,001.-- Legal actions
04.03.2013 2009 1 7,257.-- Paid legal actions
11.11.2011 2011 1 90,108,314.-- Legal actions
11.11.2011 2011 3 14,675.-- Paid legal actions
11.11.2011 2010 4 14,756.-- Paid legal actions
11.11.2011 2008 2 21,911.-- Opposition filed
11.11.2011 2007 1 105,102.-- Opposition filed
06.11.2009 2007 1 Paid legal
actions
06.11.2009 2006 1 Legal
actions
06.11.2009 2005 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.
Debt collection case:
OCT 2010: CHF 1'805.00, paid.
OCT 2010: CHF 1'440.00, open.
AUG 2008: CHF 2'279.00, paid.
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 in order.
Payment experiences: There are no
negative reports on payment experiences.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.48 |
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|
1 |
Rs.100.35 |
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Euro |
1 |
Rs.79.86 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.