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Report Date : |
20.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
GALATA CHEMICALS GMBH |
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Registered Office : |
Chemiestr. 22, D 68623 Lampertheim, Post
Box 17 60, D 68607 Lampertheim |
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Country : |
Germany |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
12.12.1997 |
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Com. Reg. No.: |
HRB 61629 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
·
producers
and marketers of additives for
the Polyvinyl Chloride (PVC) and associated industries ·
producer
of EHTG, DMT, TOT and other tin
intermediates which are found in Methyl, Butyl and Octyl tin stabilizers. ·
producer
of Epoxidized Soybean Oil, Phosphites and other intermediates that are found
in mixed metal stabilizers. |
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No. of Employees : |
143 |
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) |
|
Germany |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
GermanY ECONOMIC OVERVIEW
The German economy - the fifth
largest economy in the world in PPP terms and Europe's largest - is a leading
exporter of machinery, vehicles, chemicals, and household equipment and
benefits from a highly skilled labor force. Like its Western European
neighbors, Germany faces significant demographic challenges to sustained
long-term growth. Low fertility rates and declining net immigration are
increasing pressure on the country's social welfare system and necessitate
structural reforms. Reforms launched by the government of Chancellor Gerhard
SCHROEDER (1998-2005), deemed necessary to address chronically high
unemployment and low average growth, contributed to strong growth in 2006 and
2007 and falling unemployment. These advances, as well as a government
subsidized, reduced working hour scheme, help explain the relatively modest
increase in unemployment during the 2008-09 recession - the deepest since World
War II - and its decrease to 6.5% in 2012. GDP contracted 5.1% in 2009 but grew
by 4.2% in 2010, and 3.0% in 2011, before dipping to 0.7% in 2012 - a
reflection of low investment spending due to crisis-induced uncertainty and the
decreased demand for German exports from recession-stricken periphery
countries. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax
cuts introduced in Chancellor Angela MERKEL's second term increased Germany's
total budget deficit - including federal, state, and municipal - to 4.1% in
2010, but slower spending and higher tax revenues reduced the deficit to 0.8%
in 2011. In 2012 Germany reached a budget surplus of 0.1%. A constitutional
amendment approved in 2009 limits the federal government to structural deficits
of no more than 0.35% of GDP per annum as of 2016 though the target was already
reached in 2012. By 2014, the federal government wants to balance its budget.
Following the March 2011 Fukushima nuclear disaster, Chancellor Angela Merkel
announced in May 2011 that eight of the country's 17 nuclear reactors would be
shut down immediately and the remaining plants would close by 2022. Germany
hopes to replace nuclear power with renewable energy. Before the shutdown of
the eight reactors, Germany relied on nuclear power for 23% of its electricity
generating capacity and 46% of its base-load electricity production
|
Source : CIA |
Galata Chemicals GmbH
Chemiestr. 22
D 68623 Lampertheim
Post Box:
17 60, D 68607 Lampertheim
Telephone: 06206/9570
Telefax:
06206/957109
Homepage: www.galatachemicals.com
E-mail:
info@galatachemicals.de
active
DE812329082
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 1997
Shareholders'
agreement: 25.11.1997
Registered on: 12.12.1997
Commercial Register: Local court 64283 Darmstadt
under: HRB
61629
Share capital: EUR 2,556,459.41
Galata Chemicals Holding GmbH
Chemiestr. 22
D 68623 Lampertheim
Legal form: Private limited company
Share capital: EUR 25,000.00
Share: EUR 2,556,459.41
Registered on: 19.02.2010
Reg. data: 60313 Frankfurt, HRB 87461
Martin Bähr
D 40764 Langenfeld
born: 27.05.1958
Manager:
Natascha Fontanella
D 68159 Mannheim
born: 07.11.1969
née: Rath
Manager:
Steven McKeown
USA Southbury, CT 06488
having sole power of
representation
born: 06.08.1971
Nationality: USA
Volker Kirschenfauth
D 60311 Frankfurt
authorized to jointly represent the
company
born: 21.09.1972
Proxy:
Dr. Brian Johnson
B Geel
authorized to jointly
represent the company
born: 10.07.1965
25.11.1997 - 04.10.1998 Vinyl Additives GmbH
Chemiestr. 22
D 68623 Lampertheim
Private limited
company
05.10.1998 - 28.11.2000 CK Witco Vinyl Additives GmbH
Chemiestr. 22
D 68623 Lampertheim
Private limited
company
29.11.2000 - 25.06.2006 Crompton Vinyl Additives GmbH
Chemiestr. 22
D 68623 Lampertheim
Private limited
company
26.06.2006 - 01.07.2010 Chemtura Vinyl Additives GmbH
Chemiestr. 22
D 68623 Lampertheim
Private limited
company
21.12.2011 - 07.05.2013 Manager
Dr. Rolf Maier
D 68526 Ladenburg
21.12.2011 - 12.12.2012 Manager
Sascha Vragolic
D 67227 Frankenthal
29.11.2011 - 14.12.2011 Manager
Dr. Luc De Temmerman
USA Saint Louis,
Missouri
27.07.2006 - 14.12.2011 Manager
Ralf-Jürgen Becker
D 68623 Lampertheim
25.06.2010 - 10.06.2011 Manager
Eric Wisnefsky
USA Kensington,
Connecticut 06037
·
producers
and marketers of additives for
the Polyvinyl Chloride (PVC) and associated industries
·
producer
of EHTG, DMT, TOT and other tin
intermediates which are found in Methyl, Butyl and Octyl tin stabilizers.
·
producer
of Epoxidized Soybean Oil, Phosphites and other intermediates that are found in
mixed metal stabilizers.
Payment experience: cash discount/within agreed terms
Negative information: We have no negative information at hand.
Balance sheet year: 2012
Type of ownership: Tenant
Address Chemiestr.
22
D
68623 Lampertheim
Land register documents were not
available.
COMMERZBANK, 64218 DARMSTADT
Sort. code: 50840005
BIC: COBADEFF508
COMMERZBANK, 60005 FRANKFURT AM MAIN
Sort. code: 50040000
BIC: COBADEFFXXX
COMMERZBANK VORMALS DRESDNER BANK, 64219
DARMSTADT
Sort. code: 50880050
BIC: DRESDEFF508
Turnover: 2012 EUR 137,777,787.00
Profit: 2012 EUR 3,927,855.00
Equipment: EUR
544,003.00
Ac/ts receivable: EUR 21,986,180.00
Liabilities: EUR 11,937,691.00
Employees:
143
Balance sheet ratios 01.01.2012 - 31.12.2012
Equity ratio [%]: 37.18
Liquidity ratio: 1.98
Return on total capital [%]: 10.04
Balance
sheet ratios 01.01.2011 - 31.12.2011
Equity ratio [%]: 35.77
Liquidity ratio: 1.81
Return on total capital [%]: 1.16
Balance sheet ratios 01.01.2010 - 31.12.2010
Equity ratio [%]: 34.20
Liquidity ratio: 1.55
Return on total capital [%]: -3.67
Balance sheet ratios 01.01.2009 - 31.12.2009
Equity ratio [%]: 29.15
Liquidity ratio: 1.92
Return on total capital [%]: -16.44
Equity ratio
The equity ratio indicates the portion of the equity as compared
to the total capital. The higher the equity ratio, the better the
economic stability (solvency) and thus the financial autonomy of
a company.
Liquidity ratio
The liquidity ratio shows the proportion between adjusted
receivables and net liabilities. The higher the ratio, the lower
the company's financial dependancy from external creditors.
Return on total
capital
The return on total capital shows the efficiency and return on
the total capital employed in the company. The higher the return
on total capital, the more economically does the company work
with the invested capital.
Type
of balance
sheet: Company balance sheet
Financial year: 01.01.2012 - 31.12.2012
ASSETS EUR 49,260,426.83
Fixed assets EUR 10,281,297.66
Intangible assets
EUR 128,782.10
Concessions, licences, rights
EUR 128,782.10
Tangible assets
EUR 4,605,705.94
Land / similar rights
EUR 1,582,456.08
Plant / machinery
EUR 2,417,656.60
Other tangible assets / fixtures and
fittings
EUR 544,003.41
Advance payments made / construction
in progress
EUR 61,589.85
Financial assets
EUR 5,546,809.62
Shares in participations /
subsidiaries and the like
EUR 264,986.64
Shares in related companies
EUR 264,986.64
Other loans
EUR 5,281,822.98
Current assets
EUR 38,254,243.71
Stocks
EUR 15,511,463.01
Raw materials, consumables and
supplies
EUR 3,688,058.01
Finished goods / work in progress
EUR 10,646,439.87
Advance payments made
EUR 1,176,965.13
Accounts receivable
EUR 21,986,179.75
Trade debtors
EUR 15,677,465.11
Amounts due from related companies
EUR 3,772,707.10
Other debtors and assets
EUR 2,536,007.54
Liquid means
EUR 756,600.95
Remaining other assets
EUR 724,885.46
Accruals (assets)
EUR 50,391.25
Deferred taxes (assets)
EUR 674,494.21
LIABILITIES EUR 49,260,426.83
Shareholders' equity
EUR 18,656,854.35
Capital
EUR 2,556,459.41
Subscribed capital (share capital)
EUR 2,556,459.41
Reserves
EUR 15,900,394.94
Capital reserves
EUR 15,768,891.23
Retained earnings / revenue reserves EUR 131,503.71
Balance sheet profit/loss (+/-)
EUR 200,000.00
Balance sheet profit / loss
EUR 200,000.00
Provisions
EUR 18,665,881.44
Pension provisions and comparable
provisions
EUR 15,486,976.00
Provisions for taxes
EUR 533,982.50
Other / unspecified provisions
EUR 2,644,922.94
Liabilities
EUR 11,937,691.04
Financial debts
EUR 4,951,163.56
Liabilities due to banks
EUR 4,951,163.56
Other liabilities
EUR 6,986,527.48
Trade creditors (for IAS incl. bills
of exchange)
EUR 3,586,661.19
Liabilities from received advance
payments
EUR 62,231.66
Liabililties due to related companiesEUR 2,003,615.00
Unspecified other liabilities
EUR 1,334,019.63
thereof liabilities from tax /
financial authorities
EUR 71,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 137,777,787.19
Inventory change + own costs (+/-)
EUR -1,213,000.55
Inventory change (+/-)
EUR -1,213,000.55
Other operating income
EUR 5,223,529.55
Cost of materials
EUR 106,512,007.90
Raw
materials and supplies, purchased
goods
EUR 101,190,014.02
Purchased services
EUR 5,321,993.88
Gross result (+/-)
EUR 35,276,308.29
Staff expenses EUR 11,073,347.93
Wages and salaries
EUR 9,432,511.65
Social security contributions and
expenses for pension plans and
benefits
EUR 1,640,836.28
Total
depreciation EUR 898,832.68
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 898,832.68
Other operating expenses
EUR 16,460,966.81
Operating result from continuing
operations
EUR 6,843,160.87
Interest result (+/-)
EUR -861,762.50
Interest and similar income
EUR 669,064.93
thereof from related companies
EUR 669,000.00
Interest and similar expenses
EUR 1,530,827.43
thereof paid to related companies
EUR 16,000.00
Other financial result
EUR 608,735.61
Income from securities and loans from
financial assets
EUR 608,735.61
Financial result (+/-)
EUR -253,026.89
Result from ordinary operations (+/-)
EUR 6,590,133.98
Extraordinary expenses
EUR 950,400.32
Extraordinary result (+/-)
EUR -950,400.32
Income tax / refund of income tax (+/-)EUR -1,698,185.40
Other taxes / refund of taxes
EUR -13,693.54
Tax
(+/-)
EUR -1,711,878.94
Annual surplus / annual deficit
EUR 3,927,854.72
Type
of balance
sheet: Company balance sheet
Financial year: 01.01.2011 - 31.12.2011
ASSETS EUR 55,467,928.53
Fixed assets
EUR 10,723,260.28
Intangible assets
EUR 162,927.65
Concessions, licences, rights
EUR 162,927.65
Tangible assets
EUR 5,013,523.01
Land / similar rights
EUR 1,774,786.96
Plant / machinery
EUR 2,968,305.26
Other tangible assets / fixtures and
fittings EUR 83,275.87
Advance payments made / construction
in progress
EUR 187,154.92
Financial assets
EUR 5,546,809.62
Shares in participations /
subsidiaries and the like
EUR 264,986.64
Shares in related companies
EUR 264,986.64
Other loans
EUR 5,281,822.98
Current assets
EUR 42,834,121.21
Stocks
EUR 14,595,438.87
Raw materials, consumables and
supplies
EUR 2,888,765.56
Finished goods / work in progress
EUR 11,290,738.83
Advance payments made
EUR 415,934.48
Accounts receivable
EUR 27,226,825.49
thereof total due from shareholders
EUR 10,193,000.00
Trade debtors
EUR 13,202,571.08
Amounts due from related companies
EUR 11,371,640.12
Other debtors and assets
EUR 2,652,614.29
Liquid means
EUR 1,011,856.85
Remaining other assets EUR 1,910,547.04
Accruals (assets)
EUR 70,538.49
Deferred taxes (assets)
EUR 1,840,008.55
LIABILITIES EUR 55,467,928.53
Shareholders' equity
EUR 25,728,999.63
Capital
EUR 2,556,459.41
Subscribed capital (share capital)
EUR 2,556,459.41
Reserves
EUR 27,877,658.45
Capital reserves
EUR 27,746,154.74
Retained earnings / revenue reserves EUR 131,503.71
Balance sheet profit/loss (+/-)
EUR -4,705,118.23
Profit / loss brought forward
EUR -2,170,652.29
Annual surplus / annual deficit
EUR -2,534,465.94
Provisions
EUR 19,306,729.63
Pension provisions and comparable
provisions
EUR 14,846,342.00
Other / unspecified provisions
EUR 4,460,387.63
Liabilities
EUR 10,432,199.27
Financial debts
EUR 4,000,000.00
Liabilities due to banks
EUR 4,000,000.00
Other
liabilities EUR 6,432,199.27
Trade creditors (for IAS incl. bills
of exchange)
EUR 4,475,453.97
Unspecified other liabilities
EUR 1,956,745.30
thereof liabilities from tax /
financial authorities
EUR 86,000.00
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code
(HGB)
Sales
EUR 128,213,768.95
Inventory change + own costs (+/-)
EUR 1,066,950.97
Inventory change (+/-)
EUR 1,066,950.97
Other operating income
EUR 3,861,356.13
Cost of materials
EUR 104,161,596.26
Raw materials and supplies, purchased
goods
EUR 98,831,631.34
Purchased services
EUR 5,329,964.92
Gross result (+/-)
EUR 28,980,479.79
Staff expenses EUR 12,076,950.07
Wages and salaries
EUR 9,658,980.72
Social security contributions and
expenses for pension plans and
benefits
EUR 2,417,969.35
Total depreciation
EUR 1,073,751.58
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 1,073,751.58
Other operating expenses
EUR 16,041,173.85
Operating result from continuing
operations
EUR -211,395.71
Interest result (+/-)
EUR -996,067.99
Interest and similar income
EUR 655,187.46
thereof from related companies
EUR 655,000.00
Interest and similar expenses
EUR 1,651,255.45
thereof paid to related companies
EUR 14,000.00
Other financial result
EUR 497,824.29
Income from securities and loans from
financial assets
EUR 497,824.29
Financial result (+/-)
EUR -498,243.70
Result from ordinary operations (+/-)
EUR -709,639.41
Extraordinary expenses
EUR 3,038,937.99
Extraordinary result (+/-)
EUR -3,038,937.99
Income tax / refund of income tax (+/-)EUR 1,224,850.03
Other taxes / refund of taxes
EUR -10,738.57
Tax
(+/-)
EUR 1,214,111.46
Annual surplus / annual deficit
EUR -2,534,465.94
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.12 |
|
UK Pound |
1 |
Rs.103.93 |
|
Euro |
1 |
Rs.85.17 |
INFORMATION DETAILS
|
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.