MIRA INFORM REPORT

Report Date :

24.12.2014

IDENTIFICATION DETAILS

Name :	MAYR MELNHOF HOLZ REUTHE GMBH
Formerly Known as :	Mayr-Melnhof Holz Beteiligungs GmbH
Registered Office :	Reuthe Nr.  57, A-6870 Reuthe Bezau
Country :	Austria
Financials (as on) :	31.12.2013
Year of Establishments :	2002
Legal Form :	Limited Liability Company
Line of Business :	· Engaged as Manufacturer of prefabricated buildings of wood · Engaged as Manufacturer of veneer sheets and wood-based panels · Engaged in Retail sale of hardware, paints and glass in specialised stores
No of Employees :	As on 2014:- Approximately 239

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 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)
Austria	a2	a2

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

Austria ECONOMIC OVERVIEW

Austria, with its well-developed market economy, skilled labor force, and high standard of living, is closely tied to other EU economies, especially Germany's. Its economy features a large service sector, a sound industrial sector, and a small, but highly developed agricultural sector. Following several years of solid foreign demand for Austrian exports and record employment growth, the international financial crisis of 2008 and subsequent global economic downturn led to a sharp but brief recession. Austrian GDP contracted 3.8% in 2009 but saw positive growth of about 2% in 2010 and 2.7% in 2011. Growth fell to 0.6% in 2012. Unemployment did not rise as steeply in Austria as elsewhere in Europe, partly because the government subsidized reduced working hour schemes to allow companies to retain employees. The 2012 unemployment rate of 4.3% was the lowest within the EU. Stabilization measures, stimulus spending, and an income tax reform pushed the budget deficit to 4.5% in 2010 and 2.6% in 2011, from only about 0.9% in 2008. The international financial crisis of 2008 caused difficulties for Austria's largest banks whose extensive operations in central, eastern, and southeastern Europe faced large losses. The government provided bank support - including in some instances, nationalization - to support aggregate demand and stabilize the banking system. Austria's fiscal position compares favorably with other euro-zone countries, but it faces external risks, such as Austrian banks' continued exposure to Central and Eastern Europe as well as political and economic uncertainties caused by the European sovereign debt crisis. In 2011 the government attempted to pass a constitutional amendment limiting public debt to 60% of GDP by 2020, but it was unable to obtain sufficient support in parliament and instead passed the measure as a simple law. In March 2012, the Austrian parliament approved an austerity package consisting of a mix of expenditure cuts and new revenues that will bring public finances into balance by 2016. In 2012, the budget deficit rose to 3.1% of GDP.

Source : CIA

Basic company information

Last up-date:	2014-12-22
Company name:	Mayr Melnhof Holz Reuthe GmbH
Status:	active company
Locations:	Vorderreuthe  57, A-6870 Reuthe Bezau
Phone:	0043 (5574) 804
Fax:	0043 (5574) 804 - 201
E-mail:	reuthe@mm-holz.com
Internet:	http://www.mm-holz.com
Activities:	Önace 16231 40% Manufacture of prefabricated buildings of wood
	Önace 16210 40% Manufacture of veneer sheets and wood-based panels
	Önace 47520 20% Retail sale of hardware, paints and glass in specialised stores
General Assessment:
Probability of Default (Basel II):	0,68% Low risk
comparison:	The Rating of this company meets industry average.
Recommendation:	In respect to solvency reasons, there is nothing to say against an establishment of a business relationship.
Detail Assessment:	Payments are made within net agreements.
	Financial situation is average, increased use of external capital.

Additional company information

Year of incorporation:	2002
Activities:
Type of company:	Manufacturing
Legal form:	limited liability company since 2006-12-19
companies' house number:	FN 287113 a Feldkirch 2006-12-23
Trade names:	Mayr-Melnhof Holz Reuthe GmbH
VAT number:	ATU 63028903
number - Austrian National Bank:	7819374
Import		Country
Import		Czech Republic	2014
Import		Finland	2014
Import		Germany	2014
Import		Norway	2014
Import		Sweden	2014

Export	Country
Export	European Union	2014

Financial data

total turnover (total sales)	2013	EUR  53.900.000,00	(estimated)
total turnover (total sales)	2012	EUR  53.625.267,57	(exact)
total employees	2014	239	(approx.)
total investments	2013	EUR  469.522,24	(exact)
total company vehicles	2014	10	(approx.)

Extraxt from the Companies' House

firm (style):

14 Mayr Melnhof Holz Reuthe GmbH

legal form:

1 Gesellschaft mit beschränkter Haftung

registered office:

1 politischer Gemeinde Reuthe

business adress:

1 Reuthe Nr. 57
6870 Reuthe bei Bezau

capital:

1 EUR 35.000

reference date annual accounts:

1 31. Dezember

annual accounts:

16 zum 31.12.2013 eingereicht am 05.08.2014

power of representation:

1 Sind zwei oder mehrere Geschäftsführer bestellt, wird das
Vertretungsrecht der Geschäftsführer mit dem
Bestellungsbeschluss geregelt.
1 Erklärung über die Errichtung der Gesellschaft 001
vom 19.12.2006
5 Generalversammlungsbeschluss vom 03.02.2009 002
Änderung des Gesellschaftsvertrages in den Punkten Erstens,
Viertens und Fünftens.
11 Generalversammlungsbeschluss vom 16.07.2013 003
Änderung der Erklärung über die Errichtung der Gesellschaft
in Punkt Erstens.
13 Übernahme des Vermögens der 004
Mayr-Melnhof Holz
Biomasseheizkraftwerk GmbH & Co KG
(FN 101324 g)
gemäß § 142 UGB.
14 Verschmelzungsvertrag vom 17.09.2013 005
14 Generalversammlungsbeschluss vom 17.09.2013 006
Diese Gesellschaft wurde als
übernehmende Gesellschaft mit der
Mayr-Melnhof Holz Reuthe GmbH
(FN 230400 z)
als übertragender Gesellschaft verschmolzen.
Sitz der übertragenden Gesellschaft in Reuthe.
14 Generalversammlungsbeschluss vom 17.09.2013 007
Änderung der Erklärung über die Errichtung der Gesellschaft
in den Punkten Erstens und Drittens.

proxy:

H Alexander Ellmauer, geb. 21.08.1974
15 vertritt seit 03.12.2013 gemeinsam mit
einem Geschäftsführer oder einem weiteren Prokuristen

managing director:

F Gebhard Dünser, geb. 14.12.1964
14 vertritt seit 17.09.2013 gemeinsam mit
einem Geschäftsführer oder einem weiteren Prokuristen
G Horst Baurenhas, geb. 18.08.1968
14 vertritt seit 17.09.2013 gemeinsam mit
einem Geschäftsführer oder einem weiteren Prokuristen

shareholder:

B "THK" Holzträgerproduktion GmbH
1 ..................... EUR 35.000
1 ................................................ EUR 35.000
------------------------------------------------------
Summen: EUR 35.000 EUR 35.000

general table:

Landesgericht Feldkirch
1 eingetragen am 23.12.2006 Geschäftsfall 47 Fr 4123/06 w
Antrag auf Neueintragung einer Firma eingelangt am 21.12.2006
5 eingetragen am 06.03.2009 Geschäftsfall 47 Fr 391/09 h
Antrag auf Änderung eingelangt am 11.02.2009
11 eingetragen am 03.08.2013 Geschäftsfall 47 Fr 2372/13 g
Antrag auf Änderung eingelangt am 26.07.2013
13 eingetragen am 20.11.2013 Geschäftsfall 47 Fr 3884/13 f
Antrag auf Änderung eingelangt am 26.09.2013
14 eingetragen am 20.11.2013 Geschäftsfall 47 Fr 3885/13 g
Antrag auf Änderung eingelangt am 26.09.2013
15 eingetragen am 09.01.2014 Geschäftsfall 47 Fr 4926/13 m
Antrag auf Änderung eingelangt am 20.12.2013
16 eingetragen am 20.08.2014
Elektronische Einreichung Jahresabschluss eingelangt am 05.08.2014

Real estate

Real estate text:

No real estate property registered

Private data

Surname	Date of birth	Address	Executive positions	Further executive positions (as registered in the companies' house)
Horst Baurenhas	1968-08-18	6882 Schnepfau Hirschau 12	manager	0
Gebhard Dünser	1964-12-14	6870 Bezau Hof 181	manager	10
Alexander Ellmauer	1974-08-21	5311 Innerschwand Baumgarten 7	joint signing clerk	0

Balance Sheet 

(absolute) all amounts in EUR 

	2013-12-31
Intangible assets	404,50
Sum intangible assets	404,50
Financial assets	18.050,26
Sum financial assets	18.050,26
Sum fixed assets	18.454,76
Stocks	7.076.207,05
Sum stock	7.076.207,05
Claims and other assets	14.392.240,30
Sum claims	14.392.240,30
Cash on hand, cheques and bank deposits	258.084,89
Sum cash and bank	258.084,89
Current assets	1.952.006,80
Sum current assets	23.678.539,04
Assets	23.696.993,80
Subscribed/declared capital	35.000,00
Capital reserves	10.516.932,57
Balance sheet profit/balance sheet loss	261.725,44
Thereof profit/loss carried forward	-198.839,94
Sum equity capital	10.813.658,01
Reserves	4.222.965,91
Sum reserves	4.222.965,91
Liabilities	8.660.369,88
Sum liabilities	8.660.369,88
Liabilities	23.696.993,80
Balance sheet sum	23.696.993,80

Key ratios

	2013
Equity capital share	45,63
Fixed assets coverage	58.595,49

Locations

Type	Locations	Description
		E-mail
operational	Reuthe Nr.  57, A-6870 Reuthe Bezau	registered office
operational	Vorderreuthe  57, A-6870 Reuthe Bezau	registered headquarters, rented premises
		reuthe@mm-holz.com
former	Reuthe Nr.  57, A-6870 Reuthe Bezau	registered headquarters

related companies

Company name	Postal code	Stake in %	Companies House
Shares in this company are held by:
"THK" Holzträgerproduktion GmbH	HNr.  57, A-6870 Reuthe Bezau	100 % 2006-12-23	FN 151342 m

Bankers

Banker	Bank sort code	Type of banking connection
UniCredit Bank Austria AG, 6901 Bregenz	12000	main bank connection

Historical development

Year of incorporation:	2002
Date of registration:	2006-12-23

Change of company name:
From	To	Company name
	2009-03-06	Kaufmann Beteiligungs GmbH
2009-03-06	2013-08-03	Mayr-Melnhof Kaufmann Beteiligungs GmbH
2013-08-03	2013-11-20	Mayr-Melnhof Holz Beteiligungs GmbH
2013-11-20		Mayr Melnhof Holz Reuthe GmbH

Former executives:
From	To	Function	Name
2006-12-23	2009-03-06	manager	Mag. Heinz Niederseer
2009-03-06	2011-03-09	manager	Mag. Josef Dringel
2011-03-09	2013-08-03	manager	Mag. Rupert Zieseritsch
	2013-11-20	manager	Dkfm. Thomas Tschol

Former shareholdings:
From	To	Name
2011-01-27	2014-12-04	Mayr-Melnhof Holz Biomasseheizkraftwerk GmbH in Liqu.
2011-03-05	2013-11-20	Mayr-Melnhof Holz Biomasseheizkraftwerk GmbH & Co KG

Mergers:
Date	Function	Name
2013-11-20	merged with	Mayr-Melnhof Holz Biomasseheizkraftwerk GmbH & Co KG
2013-11-20	merged with	Mayr-Melnhof Holz Reuthe GmbH

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.63.45
UK Pound	1	Rs.98.88
Euro	1	Rs.77.62

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%)

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.