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Report Date : |
20.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAURER AG |
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Registered Office : |
Bleikenstrasse 11 9630 Wattwil/SG Switzerland/CH |
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Country : |
Switzerland |
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Date of Incorporation : |
06.03.2013 |
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Com. Reg. No.: |
170.3.037.683-0 / 1132230 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
Manufacture of machinery for textile, apparel and leather production |
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No. of Employees : |
180 |
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 – 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 |
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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 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 |
SAURER AG
Bleikenstrasse 11
9630 Wattwil/SG
Switzerland/CH
Telephone: 071
9874444
Fax: 071
9874356
Web
site: http://www.saurer.com
E-mail: info@saurer.com
WIN
Worldbox No.: CH0009743927
VAT-No.: CHE213608293
Established: 1853
Line
of Business: Machinery
Industry
Division: Manufacturing
Industry-code (NACE): 2894 Manufacture of machinery for textile,
apparel and leather production
Import/Export: Import
Quality
certification: ISO 13485
Banks: unknown
Coverage: Company
Figures: approximately
Employees: 180
Branches: 1
The business activities includes the manufacture
and sale of textile machinery, especially of embroidery machines and apparatus.
Products: roving frame, ring spinning, rotor spinning, winding, twisting,
embroidery machines.
Business units and brands:
Spinning: Saurer Schlafhorst, Saurer Zinser
Twisting: Saurer Allma, Saurer Volkmann
Pre-Spinning: Saurer Jinsheng
Embroidery: Saurer Embroidery
Components: Saurer Accotex, Saurer
Heberlein, Saurer Daytex, Saurer Temco, Saurer Fibrevision, Saurer Texparts
Information on property ownership was not
available.
Company
No: 170.3.037.683-0 /
1132230
Legal
form: Company limited by
shares
Registration: 06.03.2013
Legal
status: active
Responsible
Register: Handelsregister des Kantons
St. Gallen (since 06.03.2013)
History: Date of Statutes:
14.05.2013
Date of
Incorporation Statutes: 05.03.2013
Date of
Statutes: 28.06.2013
Entry Deleted Name
12.07.2013 SAURER
AG
12.07.2013 SAURER
SA (Name translated)
12.07.2013 SAURER
Inc. (Name translated)
06.03.2013 12.07.2013 S-Textile Swiss AG
06.03.2013 12.07.2013 S-Textile Swiss Ltd. (Name translated)
06.03.2013 12.07.2013 S-Textile Swiss SA (Name translated)
Entry Deleted Legal domicile
17.05.2013 Wattwil,
Switzerland
06.03.2013 17.05.2013 Baar, Switzerland
Entry Deleted Address
17.05.2013 Bleikenstrasse
11, 9630 Wattwil/SG, Switzerland/CH
06.03.2013 17.05.2013 Oberneuhofstrasse 6, 6340 Baar/ZG,
Switzerland/CH
Entry Deleted Capital
06.03.2013 Share
Capital CHF 1,000,000, paidup CHF 1,000,000
Entry Deleted Capital Structure
24.05.2013 1,000,000
Registered shares of CHF 1.--
Entry Deleted Activity (original Language)
27.08.2013 Fabrikation
und Verkauf von Textilmaschinen, insbesondere von Stickmaschinen und Apparaten.
Die Gesellschaft kann im In- und Ausland Zweigniederlassungen und
Tochtergesellschaften errichten, sich an anderen Unternehmen im In- und Ausland
beteiligen, Vertretungen übernehmen, Grundstücke im In- und Ausland erwerben,
halten, belasten und verkaufen sowie ihren direkten oder indirekten
Tochtergesellschaften sowie Dritten, einschliesslich ihren direkten oder
indirekten Aktionären sowie deren direkten oder indirekten
Tochtergesellschaften, direkte oder indirekte Finanzierungen gewähren und für
Verbindlichkeiten von solchen Gesellschaften Sicherheiten aller Art stellen
einschliesslich mittels Pfandrechten an oder fiduziarischen Übereignungen von
Aktiven der Gesellschaft oder Garantien jedwelcher Art, ob entgeltlich oder
nicht.
27.08.2013 27.08.2013 Fabrikation und Verkauf von Textilmaschinen,
insbesondere von Stickmaschinen und Apparaten. Die Gesellschaft kann im In- und
Ausland Zweigniederlassungen und Tochtergesellschaften errichten, sich an
anderen Unternehmen im In- und Ausland beteiligen, Vertretungen übernehmen,
Grundstücke im In- und Ausland erwerben, halten, belasten und verkaufen sowie
ihren direkten oder indirekten Tochtergesellschaften sowie Dritten,
einschliesslich ihren direkten oder indirekten Aktionären sowie deren direkten
oder indirekten Tochtergesellschaften, direkte oder indirekte Finanzierungen
gewähren und für Verbindlichkeiten von solchen Gesellschaften Sicherheiten
aller Art stellen einschliesslich mittels Pfandrechten an oder fiduziarischen
Übereignungen von Aktiven der Gesellschaft oder Garantien jedwelcher Art, ob
entgeltlich oder nicht.
06.08.2013 27.08.2013 Fabrikation und Verkauf von Textilmaschinen,
insbesondere von Strickmaschinen und Apparaten. Die Gesellschaft kann im In-
und Ausland Zweigniederlassungen und Tochtergesellschaften errichten, sich an
anderen Unternehmen In- und Ausland beteiligen, Vertretungen übernehmen,
Grundstücke im In- und Ausland erwerben, halten, belasten und verkaufen sowie
ihren direkten oder indirekten Tochtergesellschaften sowie Dritten,
einschliesslich ihren direkten oder indirekten Aktionären sowie deren direkten
oder indirekten Tochtergesellschaften, direkte oder indirekte Finanzierungen
gewähren und für Verbindlichkeiten von solchen Gesellschaften Sicherheiten
aller Art stellen einschliesslich mittels Pfandrechten an oder fiduziarischen
Übereignungen von Aktiven der Gesellschaft oder Garantien jedwelcher Art, ob
entgeltlich oder nicht.
17.05.2013 06.08.2013 Fabrikation und Verkauf von Textilmaschinen,
insbesondere von Stickmaschinen und Apparaten. Die Gesellschaft kann im In- und
Ausland Zweigniederlassungen und Tochtergesellschaften errichten, sich an
anderen Unternehmen im In- und Ausland beteiligen sowie Vertretungen
übernehmen. Sie kann Grundstücke im In- und Ausland erwerben, halten,
belasten und verkaufen. Die Gesellschaft kann ihren direkten oder indirekten
Tochtergesellschaften sowie Dritten, einschliesslich ihren direkten oder
indirekten Aktionären sowie deren direkten oder indirekten Finanzierungen
gewähren und für Verbindlichkeiten von solchen Gesellschaften Sicherheiten
aller Art stellen, einschliesslich mittels Pfandrechten an oder fiduziarischen
Übereignungen von Aktiven der Gesellschaft oder Garantien jedwelcher Art, ob
entgeltlich oder nicht,
06.03.2013 17.05.2013 Direkter oder indirekter Erwerb, Verwaltung
und Veräusserung von Beteiligungen an in- und ausländischen Unternehmen aller
Art, insbesondere an Industrieunternehmungen, Erwerb, Halten, Verwalten und
Veräussern von Urheberrechten, Patenten, Marken, Designs und anderen
Immaterialgüterrechten sowie Betrieb von Geschäften im Textilbereich;
vollständige Zweckumschreibung gemäss Statuten
Entry Deleted Remarks (original Language)
active Publishing
authority: SHAB.
active Reports:
Die Mitteilungen an die Aktionäre erfolgen nach Ermessen des Verwaltungsrates
per Brief, E-Mail oder Telefax an die im Aktienbuch verzeichneten Adressen.
Entry Deleted Branches
18.06.2013 Textilstrasse
2, 9320 Arbon, TG, Switzerland/CH
Title Name
President Daniel
Christian Lippuner, Origin: Grabs, Switzerland, Residential address: Altendorf,
Switzerland, joint signature of two
Vice-President Zhengping Zeng,
Origin: Germany, Residential address: Shanghai, China, joint signature of two
Title Name
Member
with signing authority James Ronald Dawson,
Origin: Männedorf, Switzerland, Residential address: Männedorf, Switzerland,
joint signature of two, Registered since: 30.09.2013
Member
with signing authority Stefan
Himmelberger, Origin: Schwellbrunn, Switzerland, Residential address:
Arnegg/SG, Switzerland, joint signature of two, Registered since: 30.09.2013
Member
with signing authority Christiane
Worms, Origin: Germany, Residential address: Mönchengladbach, Germany, joint
signature of two, Registered since: 30.09.2013
Title Name
Auditor PricewaterhouseCoopers
AG, Residential address: St. Gallen, Switzerland, Id: CHE-364.598.872,
Registered since: 09.12.2013
Name: Saurer Jintan Textile
Machinery Company Ltd
City/Country: Jintan, China/CN
No.
of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Type: indirect, Group-Level
1
Name: Saurer Jintan Textile
Machinery Company Ltd
City/Country: Jintan, China/CN
Interest: 100,00% voting right,
100,00% capital interest
It is believed that the company has no
investments.
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 in order.
Payment
experiences: Financial obligations are
met in an orderly manner.
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.