MIRA INFORM REPORT

Report Date :

13.12.2014

IDENTIFICATION DETAILS

Name :	ROTORCRAFT AG
Registered Office :	Bafflesstrasse 14 9450 Altstätten/SG Switzerland/CH
Country :	Switzerland
Date of Incorporation :	06.04.1973
Com. Reg. No.:	320.3.013.417-2 / 82187
Legal Form :	Company limited by shares
Line of Business :	Manufacture of machinery for textile, apparel and leather production
No. of Employees :	30

RATING & COMMENTS

MIRA’s Rating :

B

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
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 – September 30, 2014

Country Name	Previous Rating (30.06.2014)	Current Rating (30.09.2014)
Switzerland	A1	A1

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

Company name and address

ROTORCRAFT AG

Operating address

Bafflesstrasse 14

9450 Altstätten/SG

Switzerland/CH

Telephone: 071 7578960

Fax: 071 7578961

Web site: http://www.oe-rotorcraft.com

E-mail: info@oe-rotorcraft.com

WIN Worldbox No.: CH0000939517

VAT-No.: CHE102572822

Profile

Established: 1973

History: 1973: Established from Hans Stahlecker

Line of Business: Machinery

Industry Division: Manufacturing

Industry-code (NACE): 2894 Manufacture of machinery for textile, apparel and leather production

Import/Export: Export

Banks: unknown

Organisation level: Ultimate Parent

Operational Figures

Coverage: Company

Figures: estimated

Financial year: 2014

Employees: 30

Sales: CHF 11,000,000.--

Activity

The business includes trading and distribution of spin components. Products of the company are RT3 Toparm, RCO, Rocos premium, ROLEC and RoLuB. The components are sold to China, India, Southeast Asia, Middle East, Africa and America.

Real Estate

Information on property ownership was not available.

Company Register

Company No: 320.3.013.417-2 / 82187

Legal form: Company limited by shares

Registration: 06.04.1973

Legal status: active

Responsible Register: Handelsregister des Kantons St. Gallen

History: Date of Statutes: 14.03.2011

Date of Statutes: 21.12.2009

Date of Statutes: 12.10.2006

Date of Statutes: 31.01.2003

Date of Incorporation Statutes: 06.04.1973

Entry Deleted Name

19.10.2006 Rotorcraft AG

21.02.1985 19.10.2006 Holding für Industriebeteiligungen Altstätten AG

Entry Deleted Legal domicile

21.02.1985 Altstätten, Switzerland

Entry Deleted Address

21.02.1985 Bafflesstrasse 14, 9450 Altstätten, Switzerland/CH

Entry Deleted Capital

21.03.2011 Share Capital CHF 1,000,000, paidup CHF 1,000,000

23.12.2009 21.03.2011 Share Capital CHF 500,000, paidup CHF 500,000

21.02.1985 23.12.2009 Share Capital CHF 300,000, paidup CHF 300,000

Entry Deleted Capital Structure

21.03.2011 1,000 Registered shares of CHF 1,000.--

23.12.2009 21.03.2011 500 Registered shares of CHF 1,000.--

19.03.2003 23.12.2009 300 Registered shares of CHF 1,000.--

21.02.1985 23.12.2009 300 Bearer shares of CHF 1,000.--

Official Administration

Title Name

President Hans Stahlecker

Citizen: Germany

Residential address: 9404 Rorschacherberg, Switzerland

single signature

Registered since: 19.09.2001

Chief Executive Dr. Andreas Fischer

Citizen: Germany

Residential address: 9404 Rorschacherberg, Switzerland

single signature

Registered since: 19.10.2006

Director Albine Fischer-Stahlecker

Citizen: Germany

Residential address: 9404 Rorschacherberg, Switzerland

single signature

Registered since: 19.02.2007

Management

Title Name

Member with signing authority René Fäh

Citizen: Benken SG, Switzerland

Residential address: Arnegg (Gossau SG), Switzerland

joint signature of two

Registered since: 19.02.2007

External Positions

Title Name

Auditor Schelling Treuhand GmbH

Residential address: Au SG, Switzerland

Registered since: 01.07.2005

Executive board

Title Name

Chief Executive Officer Frank Gossmann (frank.gossmann@oe-rotorcraft.com)

Chief Sales Officer Dr. Andreas Fischer (andreas.fischer@oe-rotorcraft.com)

Owner/-s

No. of Owner/-s: 2

Owner: The company is privately owned.

Class: 50-100%

Type: direct

Name: Albine Fischer-Stahlecker

City/Country: Rorschacherberg, Switzerland/CH

Interest: 95,00% voting right, 95,00% capital interest

Class: 0-9%

Type: direct

Name: Dr. Andreas Fischer

City/Country: Rorschacherberg, Switzerland/CH

Interest: 5,00% voting right, 5,00% capital interest

Investments

Class: 100%

Name: Patent-Gesellschaft Altstätten AG

City/Country: Altstätten/SG, Switzerland/CH

Interest: 100,00% voting right, 100,00% capital interest

Class: 50-100%

Name: Maschinenfabrik Altstätten AG

City/Country: Altstätten/SG, Switzerland/CH

Interest: 75,00% voting right, 75,00% capital interest

Legal Actions

Control date Year No. Amount CHF Status

25.04.2007 2007 0

31.12.2006 2006 0

31.12.2005 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.

Credit Information

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 difficult to assess.

Payment experiences: There are no objections regarding the payment of financial obligations.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.44
UK Pound	1	Rs.98.15
Euro	1	Rs.77.38

INFORMATION DETAILS

Analysis Done by :	SUB
Report Prepared by :	NIS

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%)

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