|
Report Date : |
19.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
EWAG AG |
|
|
|
|
Registered Office : |
Industriestrasse 4 4554 Etziken/SO
Switzerland/CH |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
28.06.1991 |
|
|
|
|
Com. Reg. No.: |
251.3.000.121-0 / 359243 |
|
|
|
|
Legal Form : |
Company limited by shares |
|
|
|
|
Line of Business : |
Subject includes the development and manufacture of tool grinding
machines for the watch industry, the dental, electrical, automotive and
aviation industries, as well as in the manufacture of precision
micro-components |
|
|
|
|
No. of Employees : |
145 |
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, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 recovered in 2010 with 3.0% growth. 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 to 1.9% in 2011 and 0.8% in 2012. 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 |
EWAG AG
Industriestrasse 4
4554 Etziken/SO
Switzerland/CH
Telephone: 032
6133131
Fax: 032
6133115
Web
site: http://www.ewag.com
E-mail: info@ewag.com
WIN
Worldbox No.: CH0000130287
VAT-No.: CHE101854577
Established: 1946
History: 1946: Established from Dr. H. Pfluger, G.
Vogt-Schild, Dr. H. Vogt + O. Remund
Line
of Business: Machinery
Industry
Division: Manufacturing
Industry-code (NACE): 2899 Manufacture of other special-purpose
machinery n.e.c.
Import/Export: Export
Banks: CS Credit Suisse
Coverage: Company
Figures: estimated
Employees: 145
Sales: CHF 40-60 Mio
The business activities includes the
development and manufacture of tool grinding machines for the watch industry,
the dental, electrical, automotive and aviation industries, as well as in the
manufacture of precision micro-components. The product portfolio includes
manual machines for grinding and re-grinding tools, CNC machines for grinding
and eroding tungsten carbide, PCD and PCBN and for machining WSP geometries, as
well as laser machines.
Information on property ownership was not
available.
Company
No: 251.3.000.121-0 /
359243
Legal
form: Company limited
by shares
Registration: 28.06.1991
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Solothurn
History: Date of Incorporation Statutes:
26.06.1991
Date of
Statutes: 21.09.2000
Date of
Statutes: 28.06.1995
Entry Deleted Name
03.07.1995 Ewag
AG
03.07.1995 Ewag
SA (Name translated)
03.07.1995 Ewag
Ltd. (Name translated)
03.07.1995 EWAG AG, Maschinen- und Werkzeugfabrik
Entry Deleted Legal domicile
active Etziken,
Switzerland
Entry Deleted Address
active Industriestrasse
4, 4554 Etziken, Switzerland/CH
Entry Deleted Capital
03.07.1995 Share
Capital CHF 600,000, paidup CHF 600,000
Entry Deleted Capital Structure
03.07.1995 600
Registered shares of CHF 1,000.--
Entry Deleted Activity (original Language)
05.10.2000 Fabrikation
von und Handel mit Maschinen und Werkzeugen und die Beteiligung an
gleichartigen und verwandten Unternehmen; kann Liegenschaften erwerben,
vermieten, verwalten und veräussern.
Entry Deleted Remarks (original Language)
active Publishing
authority: SHAB.
25.04.2005 Transfer
of Assets: Die Gesellschaft überträgt gemäss Vertrag vom 19./20.04.2005 Aktiven
von CHF 1'623'141.10 und Passiven (Fremdkapital) von CHF 878'854.57 auf die
"Schleifring Service AG", in Steffisburg (CH-092.3.016.535-0).
Gegenleistung: CHF 744'286.53.
05.10.2000 Merger:
Die Gesellschaft übernimmt gemäss Fusionsvertrag vom 21.09.2000 und
Fusionsbilanz per 31.12.1999 Aktiven von CHF 2'274'000.-- und Passiven von CHF
1'001'000.-- der "Erhard Doebeli AG, Werkzeugmaschinenfabrik", in
Gerlafingen, sowie Aktiven von CHF 384'000.-- und Passiven von CHF 4'000.-- der
"AG für Automatisierung", in Etziken, nach Massgabe von Art. 748 OR.
Da die übernehmende Gesellschaft Eigentümerin sämtlicher Aktien der zu
übernehmenden Gesellschaften ist, findet keine Kapitalerhöhung statt.
03.07.1995 Shares:
Die Uebertragbarkeit der Namenaktien ist nach Massgabe der Statuten beschränkt.
03.07.1995 Reports: Mitteilung an Aktionäre: schriftlich.
Title Name
President Stephan
Nell, Origin: St. Antönien, Switzerland, Residential address: Hilterfingen,
Switzerland, single signature, Registered since: 20.11.2012
Director Gustel Baumert,
Origin: Germany, Residential address: Wedel, Germany, joint signature of two,
Registered since: 21.06.2010
Director Klaus
Floessel, Origin: Germany, Residential address: Wettingen, Switzerland, joint
signature of two, Registered since: 24.01.1996
Director Michael
Horn, Origin: Germany, Residential address: Gurzelen, Switzerland, joint
signature of two, Registered since: 12.11.2013
Title Name
General
Manager Christian
Dilger, Origin: Germany, Residential address: Pliezhausen, Germany, joint
signature of two, Registered since: 10.04.2013
General
Manager Christoph
Plüss, Origin: Murgenthal, Switzerland, Residential address: Burgdorf,
Switzerland, joint signature of two, Registered since: 21.06.2010
Chairman
of the management Heinz Poklekowski,
Origin: Germany, Residential address: Stuttgart, Germany, joint signature of
two, Registered since: 21.06.2010
Member
with procuration Daniel
Felber, Origin: Deitingen, Switzerland, Residential address: Lausen,
Switzerland, joint power of attorney of two, Registered since: 10.04.2013
Member
with procuration Guido
Gsponer, Origin: Brig-Glis, Embd, Switzerland, Residential address: Recherswil,
Switzerland, joint power of attorney of two, Registered since: 03.02.1998
Member
with procuration Peter
Kradolfer, Origin: Zürich, Switzerland, Residential address: Biel/Bienne,
Switzerland, joint power of attorney of two, Registered since: 01.12.2011
Member
with procuration Beat
Oderbolz, Origin: Wagenhausen, Switzerland, Residential address: Lyss, Switzerland,
joint power of attorney of two
Member
with procuration Markus
Scherrer, Origin: Alt St. Johann, Switzerland, Residential address: 4934
Madiswil/BE, Switzerland, joint power of attorney of two, Registered since:
22.03.2007
Member
with procuration Jörg Schütz,
Origin: Sumiswald, Switzerland, Residential address: Safnern, Switzerland,
joint power of attorney of two, Registered since: 26.08.1997
Member
with procuration Rudolf
Stucki, Origin: Diemtigen, Switzerland, Residential address: Etziken, Switzerland,
joint power of attorney of two, Registered since: 01.12.2010
Member
with procuration Andreas
Weidenauer, Origin: Germany, Residential address: Derendingen, Switzerland,
joint power of attorney of two, Registered since: 10.04.2013
Title Name
Auditor Ernst
& Young AG, Residential address: Zürich, Switzerland, Registered since:
17.12.2002
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.
EUR mil. EUR mil. EUR mil. EUR mil.
EUR
Net sales 1,676.9 1,611.7 1,748.6
Operating revenue 2,004.0 1,943.0 1,697.4 1,580.2 1,805.9
Operating result 174.9 79.0 185.5
Result before minority
interests 151.0 159.0 113.9 71.9 163.4
Capital 170.0 170.0 170.0
Total shareholders
equity 1,470.0 1,339.0 1,189.3 1,058.0 1,031.6
Total assets 2,194.0 2,109.0 2,037.2 1,824.4 1,862.2
Cost of employees 644.0 637.0 572.0 568.4 573.0
Depreciation 59.0 53.0 43.6 47.0 43.6
Investments in
tangible fixed assets 48.0 53.0 40.8 51.4 53.2
Research and
Development 99.0 104.0
Employees at year end 9,553 9,595 9,233 9,461 9,587
Name: Körber AG
City/Country: Hamburg, Germany/DE
No.
of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Type: indirect,
Group-Level 1
Name: Körber AG
City/Country: Hamburg, Germany/DE
Interest: 100,00% voting right,
100,00% capital interest (since 2000)
Class: 100%
Type: direct
Name: Körber Schleifring
GmbH
City/Country: Hamburg, Germany/DE
Interest: 100,00% voting right,
100,00% capital interest (since 2000)
Name: Fritz Studer AG
City/Country: Steffisburg/BE, Switzerland/CH
Name: Mägerle AG
Maschinenfabrik
City/Country: Fehraltorf/ZH, Switzerland/CH
Name: United Grinding Group
AG
City/Country: Bern/BE, Switzerland/CH
It is believed that the company has no
investments.
Control date Year No. Amount CHF Status
15.11.2013 2013 0
15.11.2013 2012 0
15.11.2013 2011 0
15.11.2013 2010 0
15.11.2013 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: Financial obligations are
met as appropriate.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.12 |
|
|
1 |
Rs.103.93 |
|
Euro |
1 |
Rs.85.17 |
INFORMATION DETAILS
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.