MIRA INFORM REPORT

 

 

Report Date :

11.06.2014

 

IDENTIFICATION DETAILS

 

Name :

REFRATECHNIK STEEL GMBH

 

 

Registered Office :

Schiessstr. 58 D 40549 Düsseldorf

 

 

Country :

Germany

 

 

Date of Incorporation :

19.01.1999

 

 

Legal Form :

Private limited company

 

 

Line of Business :
  • Manufacture of refractory products
  • Wholesale of iron ores, iron, steel and iron and steel semi-finished goods

 

 

No. of Employees

150

 

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 :

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 – 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

Moderate Low Risk

 

B1

Moderate Risk

 

B2

Moderate 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

 

REFRATECHNIK STEEL GMBH

 

 Company Status:         active

Schiessstr. 58

D 40549 Düsseldorf

Telephone:0211/5858-0

Telefax:  0211/5858-49

Homepage: www.refra.com

E-mail:   westerneurope.steel@refra.com

 

 VAT no.:                      DE185446601

 

 

 CONCLUSION

 

 Business relations are permissible.

 

 

Company summary

 

 LEGAL FORM              Private limited company

 Date of foundation:      30.01.1997

 Shareholders'

 agreement:                   30.01.1997

 Registered on:              19.01.1999

 Commercial Register:   Local court 40227 Düsseldorf

 under:                          HRB 36903

 

 Share capital:                          EUR          5,000,000.00

 

 Shareholder:

                      Refratechnik Holding GmbH

                      Adalperostr. 82

                      D 85737 Ismaning

                      Legal form: Private limited company

                      Share capital:     EUR        105,000,000.00

                      Share:             EUR          5,000,000.00

                      Registered on: 21.08.2001

                      Reg. data: 80333 München, HRB 138677

                      Control and profit transfer agreement

 Manager:

                      Dr. Helge Wilhelm Jansen

                      D 37133 Friedland

                      having sole power of representation

                      born: 26.07.1962

 Proxy:

                      Ralf Bechinger

                      D 45127 Essen

                      having sole power of representation

                      born: 24.11.1968

 Proxy:

                      Kurt-Jürgen Meß

                      Maxstr. 12

                      D 46145 Oberhausen

                      authorized to jointly represent the company

                      born: 07.10.1963

 Proxy:

                      Thomas Leppkes

                      D 47053 Duisburg

                      having sole power of representation

                      born: 25.07.1963

 Proxy:

                      Lutz Schade

                      D 41564 Kaarst

                      authorized to jointly represent the company

                      born: 24.01.1965

 

 Further functions/participations of Dr. Helge Wilhelm Jansen

 (Manager)

 Manager:

                      Refratechnik Casting GmbH

                      Schiessstr. 58

                      D 40549 Düsseldorf

                      Legal form: Private limited company

                      Share capital:     EUR          1,000,000.00

                      Registered

                      on:         11.09.2009

                      Reg. data:  40227 Düsseldorf, HRB 61778

 

 

 COMPANY HISTORY

 

 30.01.1997 - 31.07.1998  Refratechnik Steel GmbH

                          Knöbelstr. 36

                          D 80538 München

                          Private limited company

 

 

 RESIGNED ACTING PERSONS AND SHAREHOLDERS

 

 10.05.2005 - 02.07.2013  Manager

                          Dr. Rainer Gaebel

                          D 85630 Grasbrunn

 24.02.1999 - 13.02.2012  Manager

                          Hartmut Bunse

                          D 40547 Düsseldorf

 

 

 BUSINESS ACTIVITIES

 

 Main industrial sector

 23200   Manufacture of refractory products

 

46721   Wholesale of iron ores, iron, steel and iron and steel semi-finished goods

 

 

 BRANCHES AND FACTORIES

 

 Branch:

                      Refratechnik Steel GmbH

                      Horchemsweg 22

                      D 56170 Bendorf

                      TEL.: 02622/88650

 Branch:

                      Refratechnik Steel GmbH

                      Gewerbestr. 28a

                      D 48249 Dülmen

 Branch:

                      Refratechnik Steel GmbH

                      Corso Casale 360

                      I 13039 Trino

 

 

 PARTICIPATIONS

 

 Shareholder:

                      Refratechnik Casting GmbH

                      Schiessstr. 58

                      D 40549 Düsseldorf

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR          1,000,000.00

                      Share:             EUR          1,000,000.00

                      Reg. data:  11.09.2009

                                  Local court 40227 Düsseldorf

                                  HRB 61778

 

 

 FINANCIAL INFORMATION

 

Payment experience:     within agreed terms

 

 Negative information:   We have no negative information at hand.

 

 

 REAL ESTATE

 

 Type of ownership:   Tenant

 Address              Schiessstr. 58

                      D 40549 Düsseldorf

 

 Land register documents were not available.

 

 

 BANKERS

 

 Principal bank

 DEUTSCHE BANK, 37073 GÖTTINGEN, NIEDERSACHS

 Sort. code: 26070072

 BIC: DEUTDE2H260

 

 Further banks

 COMMERZBANK, 40002 DÜSSELDORF

 Sort. code: 30040000, Account no.: 5811070

 BIC: COBADEDDXXX

 DEUTSCHE BANK, 80271 MÜNCHEN

 Sort. code: 70070010, Account no.: 2007615

 BIC: DEUTDEMMXXX

 BADEN-WÜRTTEMBERGISCHE BANK, 76005 KARLSRUHE, BADEN

 Sort. code: 66020020, Account no.: 4041643000

 BIC: SOLADEST663

 HSBC TRINKAUS & BURKHARDT, 40002 DÜSSELDORF

 Sort. code: 30030880, Account no.: 2465027

 BIC: TUBDDEDDXXX

 

 

 FINANCIAL FIGURES

 

 Financial year:                                                  01.01. - 31.12.

 Share capital:                                        EUR          5,000,000.00

 Employees:                                                                  150

 

 

 Control and profit transfer agreement to:

 

                      Refratechnik Holding GmbH

                      Adalperostr. 82

                      D 85737 Ismaning

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.59.26

UK Pound

1

Rs.99.63

Euro

1

Rs.80.59

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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%)

 

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.