MIRA INFORM REPORT

 

 

Report Date :

17.07.2014

 

IDENTIFICATION DETAILS

 

Name :

ABEL GMBH & CO. KG

 

 

Registered Office :

Abeltwiete 1, D 21514 Büchen

 

 

Country :

Germany

 

 

Date of Incorporation :

1947

 

 

Com. Reg. No.:

HRA 355 SB

 

 

Legal Form :

Ltd partnership with priv. ltd. company as general partner

 

 

Line of Business :

·         Manufacture of pumps and compressors

·         Wholesale of other machinery, equipment and supplies

·         Manufacture of other general-purpose machinery

 

 

No. of Employees :

119

 

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 :

Slow but correct

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 – March 31, 2014

 

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

Germany

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

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, has contributed to strong growth 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 5.3% in 2013. The new German government introduced a minimum wage of $11 per hour to take effect in 2015. 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 and 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. 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

 

 

 

 

Company name and address

 

ABEL GMBH & CO. KG

 

 Company Status:          active

                                    Abeltwiete 1

                                    D 21514 Büchen

                                    Telephone:04155/8180

                                     Telefax:  04155/818499

                                     Homepage: www.abel.de

                                     E-mail:   mail@abel.de

 

 VAT no.:                       DE135334765

 

 

 CONCLUSION

 

 Business relations are permissible.

 

 

Company summary

 

 LEGAL FORM              Ltd partnership with priv. ltd. company as general partner

 Date of foundation:        1947

 Registered on:              23.01.1991

 Register of

 companies:                   Local court 23568 Lübeck

 under:                          HRA 355 SB

 

 Total cap. contribution:                EUR          3,067,751.29

 

 Limited partner:

                      Abel Pumps, L.P. -Kommanditgesellschaft nach

                      dem Recht von Dalaware-

                      11359 Aurora Avenue

                      USA 50322 Iowa Des Moines

                      Legal form: Other legal form

                      Share:             EUR          3,067,751.29

 General partner:

                      Abel Pumpen GmbH

                      Badstr. 3-5

                      D 97922 Lauda-Königshofen

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered on: 27.07.2000

                      Reg. data: 68159 Mannheim, HRB 560558

 Shareholder:

                      Roper Industries Deutschland GmbH

                      Badstr. 3-5

                      D 97922 Lauda-Königshofen

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Share:             EUR             25,000.00

                      Registered on: 24.07.2000

                      Reg. data: 68159 Mannheim, HRB 560557

 Manager:

                      Christian Dietl

                      D 22397 Hamburg

                      having sole power of representation

                      born: 26.01.1968 in Hamburg

 Proxy:

                      Peter Kloßok

                      D 21514 Büchen

                      authorized to jointly represent the company

                      born: 05.08.1953

 Proxy:

                      Christian Dietl

                      D 22397 Hamburg

                      authorized to jointly represent the company

                      born: 26.01.1968 in Hamburg

 

 

 COMPANY HISTORY

 

 23.01.1991 - 18.10.1998  Abel GmbH & Co Handels u.

                          Verwaltungsges.

                          Abel-Twiete 1

                          D 21514 Büchen

                          Ltd partnership with priv. ltd. company

                          as general partner

 

 

BUSINESS ACTIVITIES

 

 Sectors

 28130   Manufacture of pumps and compressors n.e.c.

28290   Manufacture of other general-purpose machinery

4669    Wholesale of other machinery, equipment and supplies

 

 

 

 FINANCIAL INFORMATION

 

Payment experience:     within periods customary in this trade

 

 Negative information:     We have no negative information at hand.

 

 

 REAL ESTATE

 

 Type of ownership:   proprietor

 Share:                100.00 %

 Address              Abeltwiete 1

                      D 21514 Büchen

 Size:                 31,556.00 sq.m

 

 Real Estate of:      Abel Pumpen GmbH

 Type of ownership:   Tenant

 Address              Badstr. 3-5

                      D 97922 Lauda-Königshofen

 

 Land register documents were not available.

 

 

BANKERS

 

 Principal bank

 UNICREDIT BANK - HYPOVEREINSBANK, 80311 MÜNCHEN

 Sort. code: 70020270, Account no.: 5501768

 BIC: HYVEDEMMXXX

 

 Further banks

 KREISSPARKASSE HERZOGTUM LAUENBURG, 21510 BÜCHEN, LAUENB

 Sort. code: 23052750

 BIC: NOLADE21RZB

 KREISSPARKASSE HERZOGTUM LAUENBURG, 21470 LAUENBURG, ELBE

 Sort. code: 23052750

 BIC: NOLADE21RZB

 DEUTSCHE BANK, 20079 HAMBURG

 Sort. code: 20070000

 BIC: DEUTDEHHXXX

 

FINANCIAL FIGURES

 

 Financial year:               01.01. - 31.12.

 Turnover:                        2012               EUR         17,000,000.00

                                    2013                  EUR         17,000,000.00

 further business figures:

 Equipment:                                           *EUR            817,500.00

 Ac/ts receivable:                                   *EUR            708,500.00

 Liabilities:                                             *EUR          1,580,500.00

 Real estate of the firm:                          EUR            971,000.00

 Employees:                                                                       119

 - thereof permanent staff:                                                     109

 - Trainees:                                                                          10

 

 The business figures marked with an asterisk are estimates based

 on average values in the line of business.

 

 The company exercises the option not to publish its balance and is

 included in the annual financial statement of the parent company

 Roper Germany GmbH.

 

 

 The following figures in Euro for 2011 belong to the group of

 Companies.

 

 Total revenues:                           107.659.955                    

 Surplus of the group:                     -11.232.995                    

 Receivables:                                    3.668.436                    

 Liabilities:                                      166.961.893                    

 Balance profit:                              - 60.756.844                    

 Staff:                                                          304                            


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.19

UK Pound

1

Rs.103.14

Euro

1

Rs.81.66

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NNA

 

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.