MIRA INFORM REPORT

Report Date :

11.03.2014

IDENTIFICATION DETAILS

Name :	AZELIS FRANCE SAS

Registered Office :	23 Rue des Ardennes Paris, 75940

Country :	France

Financials (as on) :	31.12.2012

Date of Incorporation :	15.01.2007

Com. Reg. No.:	494030174

Legal Form :	Public Subsidiary

Line of Business :	Subject is a chemical company. It distributes specialty chemicals. And operates through Animal Nutrition, Chemical Industries, Coatings, Personal Care, Pharma, Rubber and Plastic Additives, Food and Health

No. of Employees :	139

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Satisfactory
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 – September 30, 2013

Country Name

Previous Rating

(30.06.2013)

Current Rating

(30.09.2013)

France

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

FRANCE - ECONOMIC OVERVIEW

The French economy is diversified across all sectors. The government has partially or fully privatized many large companies, including Air France, France Telecom, Renault, and Thales. However, the government maintains a strong presence in some sectors, particularly power, public transport, and defense industries. With at least 79 million foreign tourists per year, France is the most visited country in the world and maintains the third largest income in the world from tourism. France's leaders remain committed to a capitalism in which they maintain social equity by means of laws, tax policies, and social spending that mitigate economic inequality. France's real GDP contracted in 2009, and has recovered slowly since then. The unemployment rate increased from 7.4% in 2008 to 10.5% in 2013. Youth unemployment shot up to 24.2% during the third quarter of 2012 in metropolitan France. Lower-than-expected growth and high spending on social protection have strained France's public finances. The budget deficit rose sharply from 3.4% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 4.0% of GDP in 2013, while France's public debt rose from 68% of GDP to nearly 94% over the same period. Under President SARKOZY, Paris implemented some austerity measures to begin bringing the budget deficit under the 3% euro-zone ceiling and to highlight France's commitment to fiscal discipline at a time of intense financial market scrutiny of euro-zone debt. Socialist Party candidate Francois HOLLANDE won the May 2012 presidential election, after advocating looser fiscal policy, greater state support for employment, the separation of banks' traditional deposit taking and lending activities from more speculative businesses, increasing the top corporate and personal tax rates, and hiring an additional 60,000 teachers during his five-year term. The government’s budget for 2014 introduced a temporary 75% tax on wages over one million euros, to be paid by employers. France ratified the EU fiscal stability treaty in October 2012. Despite stagnant growth and fiscal challenges, France's borrowing costs have declined in recent years because investors remain attracted to the liquidity of France’s bonds

Source : CIA

Company name and address

AZELIS FRANCE SAS

23 Rue des Ardennes


Paris, 75940
France


Tel:	+33 01 44 73 10 00
Fax:	33-143468592

$Description: \\vivek\Foreign Report Raw\Azelis France SAS_files\arrow_002.gif$ www.azelis.com

Employees:	139
Company Type:	Public Subsidiary
Corporate Family:	544 Companies
Ultimate Parent:	3i Group plc

Incorporation Date:	15-Jan-2007


Fiscal Year End:	31-Dec-2012
Reporting Currency:	Euro
Annual Sales:	216.2
Total Assets:	94.3

Business Description

Azelis France S.a.s. (Azelis) is a chemical company. The company distributes specialty chemicals. It operates through Animal Nutrition, Chemical Industries, Coatings, Personal Care, Pharma, Rubber and Plastic Additives, Food and Health. The company’s products include cleaning products and cleaning, lubricants / working fluids metals, paper, agrochemicals, textiles and leather, water treatment, building, wood preservation, agriculture and horticulture, electronics and salts. Azelis offers services include synthesis, contract manufacturing, outsourcing and dual sourcing. It offers logistic solutions. The company has its presence Austria, Benelux, the Baltic States, Croatia, Czech Republic, Denmark, Finland, France, Germany, Greece and Hungary among others. Azelis is headquartered in Paris, France.

Industry

Industry	Semiconductor and Other Electronic Component Manufacturing
ANZSIC 2006:	2429 - Other Electronic Equipment Manufacturing
ISIC Rev 4:	2610 - Manufacture of electronic components and boards
NACE Rev 2:	2611 - Manufacture of electronic components
NAICS 2012:	334413 - Semiconductor and Related Device Manufacturing
UK SIC 2007:	2611 - Manufacture of electronic components
US SIC 1987:	3674 - Semiconductors and Related Devices

Key Executives

Name	Title
Joris Coppye	Chief Executive Officer
Michel Vandermeiren	President
Günther Krausser	Chief Financial Officer
Michel Dubois	Chief Strategy Officer
Alan Peterson	Chairman

News

Title	Date
Sensus Announces Partnership with Azelis France Nutrition Horizon (446 Words)	6-May-2013

Registered No.(FRA): 494030174

1 - Profit & Loss Item Exchange Rate: USD 1 = EUR 0.7782366

2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7566

Corporate Overview

Location
23 Rue des Ardennes
Paris, 75940
France

Tel:	+33 01 44 73 10 00
Fax:	33-143468592

$Description: \\vivek\Foreign Report Raw\Azelis France SAS_files\externalright.gif$ www.azelis.com

$Description: \\vivek\Foreign Report Raw\Azelis France SAS_files\spacer.gif$

Sales EUR(mil):	168.2
Assets EUR(mil):	71.3
Employees:	139
Fiscal Year End:	31-Dec-2012

$Description: \\vivek\Foreign Report Raw\Azelis France SAS_files\spacer.gif$
Industry:	Semiconductors

$Description: \\vivek\Foreign Report Raw\Azelis France SAS_files\spacer.gif$

Incorporation Date:	15-Jan-2007
Company Type:	Public Subsidiary
Quoted Status:	Not Quoted
Registered No.(FRA):	494030174

$Description: \\vivek\Foreign Report Raw\Azelis France SAS_files\spacer.gif$
Chief Executive Officer:	Joris Coppye

Industry Codes

ANZSIC 2006 Codes:
2429	-	Other Electronic Equipment Manufacturing

ISIC Rev 4 Codes:
2610	-	Manufacture of electronic components and boards

NACE Rev 2 Codes:
2611	-	Manufacture of electronic components

NAICS 2012 Codes:
334413	-	Semiconductor and Related Device Manufacturing

US SIC 1987:
3674	-	Semiconductors and Related Devices

UK SIC 2007:
2611	-	Manufacture of electronic components

Business Description

Compound Semiconductor Substrates Mfr

More Business Descriptions

$Description: \\vivek\Foreign Report Raw\Azelis France SAS_files\spacer.gif$

Azelis France is primarily engaged in wholesale of industrial chemicals (aniline, printing ink, essential oils, industrial gases, chemical glues, colouring matter, synthetic resin, methanol, paraffin, scents and flavourings, soda, industrial salt, acids and sulphur, starch derivatives, etc.); wholesale of fertilisers and agro-chemical products; wholesale of plastic materials in primary forms; and wholesale of rubber.

$Description: \\vivek\Foreign Report Raw\Azelis France SAS_files\spacer.gif$

Financial Data

Financials in:	EUR(mil)
$Description: \\vivek\Foreign Report Raw\Azelis France SAS_files\spacer.gif$
Revenue:	168.2
Assets:	71.3
Current Assets:	47.4
Total Liabilities:	71.3
Issued Capital:	3.0
Net Worth:	12.3
$Description: \\vivek\Foreign Report Raw\Azelis France SAS_files\spacer.gif$
Date of Financial Data:	31-Dec-2012

$Description: \\vivek\Foreign Report Raw\Azelis France SAS_files\spacer.gif$

1 Year Growth

-8.7%

Subsidiaries

Company	Percentage Owned	Country
Azelis Peroxides		France
Chemlog		France

Corporate Structure News:

Company Name	Company Type	Location	Country	Industry	Sales (USD mil)	Employees
3i Group plc	Parent	London	United Kingdom	Investment Services	862.7	271
Environmental Scientifics Group Holdings Ltd.	Holding	London	United Kingdom	Miscellaneous Professional Services	112.5	1,273
Harrison Group Environmental Ltd.	Subsidiary	London	United Kingdom	Metal Products Manufacturing	250.0	1,000
Waterwise Technology Ltd.	Subsidiary	Thame	United Kingdom	Machinery and Equipment Manufacturing	3.4	23
Inspicio Holdings Ltd.	Subsidiary	Burton On Trent	United Kingdom	Miscellaneous Professional Services
Inspicio Environmental Services Group Ltd.	Subsidiary	Burton On Trent	United Kingdom	Miscellaneous Professional Services
Environmental Scientifics Group Ltd.	Subsidiary	Burton On Trent	United Kingdom	Architecture and Engineering	105.5	1,188
Esg Ltd.	Subsidiary	Burton-On-Trent	United Kingdom	Miscellaneous Professional Services		1,100
Environmental Scientifics Group Ltd.	Subsidiary	Southam	United Kingdom	Architecture and Engineering	250.0	750
Scientifics Ltd.	Subsidiary	Derby	United Kingdom	Architecture and Engineering		375
Esg Asbestos Ltd.	Subsidiary	Doncaster	United Kingdom	Architecture and Engineering	7.0	85
Environmental Scientifics Group Ltd.	UK Branch/Trading address	London	United Kingdom	Research and Development Services	105.5	26
Environmental Scientifics Group Ltd.	UK Branch/Trading address	Deeside	United Kingdom	Architecture and Engineering	105.5	25
Environmental Scientifics Group Ltd.	UK Branch/Trading address	Stockport	United Kingdom	Architecture and Engineering	105.5	25
Environmental Scientifics Group Ltd.	UK Branch/Trading address	St Albans	United Kingdom	Architecture and Engineering	105.5	12
Environmental Scientifics Group Ltd.	UK Branch/Trading address	Romford	United Kingdom	Architecture and Engineering	105.5	9
Henley Water Ltd.	Subsidiary	Thame	United Kingdom	Miscellaneous Professional Services		8
Environmental Scientifics Group Ltd.	UK Branch/Trading address	Doncaster	United Kingdom	Architecture and Engineering	105.5
Environmental Scientifics Group Ltd.	UK Branch/Trading address	Daventry	United Kingdom	Architecture and Engineering	105.5
Environmental Scientifics Group Ltd.	UK Branch/Trading address	Warrington	United Kingdom	Architecture and Engineering	105.5
Environmental Scientifics Group Ltd.	UK Branch/Trading address	Weavering	United Kingdom	Architecture and Engineering	105.5
Environmental Scientifics Group Ltd.	UK Branch/Trading address	Doncaster	United Kingdom	Architecture and Engineering	105.5
Environmental Contamination Services Ltd.	Subsidiary	Burton On Trent	United Kingdom	Miscellaneous Professional Services
E S G Asbestos	UK Branch/Trading address	Doncaster	United Kingdom	Specialty Construction Trade Contractors		12
Voelcker Holdings Ltd.	Subsidiary	Burton On Trent	United Kingdom	Miscellaneous Professional Services
Dr.Augustus Voelcker & Sons Ltd.	Subsidiary	Burton On Trent	United Kingdom	Miscellaneous Professional Services
Soil Mechanics Ltd.	Subsidiary	Burton On Trent	United Kingdom	Miscellaneous Professional Services
Soil Mechanics Ltd.	Subsidiary	Bristol	United Kingdom	Architecture and Engineering		175
Engineering And Resources Consultants Ltd.	Subsidiary	Burton On Trent	United Kingdom	Miscellaneous Professional Services
C L Associates Ltd.	Subsidiary	Burton On Trent	United Kingdom	Miscellaneous Professional Services
C L Associates Ltd.	Subsidiary	Southam	United Kingdom	Architecture and Engineering		75
Soil Mechanics Associates Ltd.	Subsidiary	Burton On Trent	United Kingdom	Miscellaneous Professional Services
Soil Mechanics Associates Ltd.	Subsidiary	Wokingham	United Kingdom	Architecture and Engineering		75
Soil Mechanics Environmental Ltd.	Subsidiary	Burton On Trent	United Kingdom	Miscellaneous Professional Services
Environmental Scientifics Ltd.	Subsidiary	Burton On Trent	United Kingdom	Miscellaneous Professional Services
Macrocom (534) Ltd.	Subsidiary	Bathgate	United Kingdom	Miscellaneous Professional Services
Analytical Services Centre (Food Park) Ltd.	Subsidiary	Bathgate	United Kingdom	Miscellaneous Professional Services
Nicholson (Site Investigation) Ltd.	Subsidiary	Burton On Trent	United Kingdom	Miscellaneous Professional Services
Exploration Associates Ltd.	Subsidiary	Burton On Trent	United Kingdom	Miscellaneous Professional Services
Environmental Contamination Sciences Ltd.	Subsidiary	Burton On Trent	United Kingdom	Miscellaneous Professional Services
Inspicio Food Testing Ltd.	Subsidiary	Burton On Trent	United Kingdom	Miscellaneous Professional Services
Buckingham Investigation Services Ltd.	Subsidiary	Burton On Trent	United Kingdom	Miscellaneous Professional Services
Atesta Holdings Ltd.	Subsidiary	Glasgow	United Kingdom
Atesta Group Ltd.	Subsidiary	Glasgow	United Kingdom	Miscellaneous Professional Services
Scientifics Group Services Ltd.	Subsidiary	Glasgow	United Kingdom	Miscellaneous Professional Services
Scientia Ferrovia Ltd.	Subsidiary	Burton On Trent	United Kingdom	Miscellaneous Professional Services
Harwell Scientifics Ltd.	Subsidiary	Derby	United Kingdom	Architecture and Engineering
Atesta Trustees Ltd.	Subsidiary	Glasgow	United Kingdom	Miscellaneous Professional Services
Esg Employee Share Scheme Nominee Ltd.	Subsidiary	Burton On Trent	United Kingdom	Miscellaneous Professional Services
Azelis S.A.	Subsidiary	Antwerp	Belgium	Chemical Wholesale		1,100
Azelis Deutschland GmbH	Subsidiary	Sankt Augustin, Nordrhein-Westfalen	Germany	Chemical Wholesale	82.5	150
Azelis Deutschland Pharma GmbH	Subsidiary	Sankt Augustin, Nordrhein-Westfalen	Germany	Health and Personal Care Wholesale		20
Azelis Deutschland Immobilien GmbH	Subsidiary	Sankt Augustin, Nordrhein-Westfalen	Germany	Property Managers		1
Azelis France SAS	Subsidiary	Paris	France	Semiconductor and Other Electronic Component Manufacturing	216.2	139
Chemlog	Subsidiary	Paris	France	Internet and Web Services	2.0	12
Azelis Peroxides	Subsidiary	Paris	France	Chemical Wholesale	1.0
S & D Group Ltd.	Subsidiary	Hertford	United Kingdom	Miscellaneous Professional Services	0.0	80
S & D Chemicals Ltd.	Subsidiary	Harrow	United Kingdom	Chemical Wholesale	0.0	150
S&D Chemicals (India) Ltd.	Subsidiary	Mumbai	India	Chemical Wholesale		70
Azelis Bulgaria EAD	Subsidiary	Sofia	Bulgaria	Chemical Wholesale		15
Azelis Canada Chemicals Ltd.	Subsidiary	Scarborough, ON	Canada	Chemical Wholesale	18.0	8
S&D Chemicals Australia Pty. Limited	Subsidiary	Brookvale, NSW	Australia	Chemical Wholesale		3
S&D Chemicals Ltd.	Subsidiary	Lodz	Poland	Chemical Wholesale		2
S&D (Zhangjiagang Free Trade Zone) International Trade Co.,Ltd.	Subsidiary	Nanjing, Jiangsu	China	Chemical Wholesale	0.9
S&D Chemicals Ltd.	Subsidiary	Budapest	Hungary	Chemical Wholesale
S&D Chemicals Ltd.	Subsidiary	Prague	Czech Republic	Chemical Wholesale
S&D Chemicals Moscow	Subsidiary	Moscow	Russian Federation	Chemical Wholesale
S&D Chemicals Limited	Subsidiary	Nanjing, Jiangsu	China	Chemical Wholesale
Food Ingredient Technology Ltd.	Subsidiary	Sandy	United Kingdom	Miscellaneous Wholesale	0.0	30
Chesham Speciality Ingredients Ltd.	Subsidiary	Harrow	United Kingdom	Health and Personal Care Wholesale	0.0	25
S & D Aroma Ltd.	Subsidiary	Leicester	United Kingdom	Health and Personal Care Wholesale	0.0	7
S & D Chemical Processing Ltd.	Subsidiary	Runcorn	United Kingdom	Agricultural Chemical Manufacturing	0.0
Raduga UK Ltd.	Subsidiary	Harrow	United Kingdom	Miscellaneous Personal Services	0.0
Raduga Ooo	Subsidiary	Moscow	Russian Federation	Health and Personal Care Wholesale	6.7	65
Azelis Denmark A/S	Subsidiary	Lyngby	Denmark	Basic Chemical Manufacturing	89.8	75
Azelis Finland Oy	Subsidiary	Helsinki	Finland	Chemical Wholesale	6.8	7
Azelis Deutschland Kosmetik GmbH	Subsidiary	Moers, Nordrhein-Westfalen	Germany	Chemical Wholesale		30
Azelis Czech Republic, s.r.o.	Subsidiary	Prague	Czech Republic	Chemical Wholesale		25
Kompanija Finkochem d.o.o.	Subsidiary	Belgrade	Serbia	Chemical Wholesale		20
Azelis Espana, S.A.	Subsidiary	Barcelona	Spain	Chemical Wholesale
Azelis India Private Limited	Subsidiary	Mumbai	India	Chemical Wholesale
Regulus Group LLC	Subsidiary	Napa, CA	United States	Mortgage and Credit	7.8	1,000
Regulus Group LLC	Subsidiary	Urbandale, IA	United States	Advertising Services	30.9	120
Regulus America LLC	Subsidiary	Tampa, FL	United States	Nonclassifiable Establishments		110
Regulus Group LLC	Branch	Dallas, TX	United States	Nonclassifiable Establishments		3
OneMed Group Oy	Subsidiary	Stockholm	Sweden	Professional and Commercial Equipment Wholesale		700
OneMed Sverige AB	Subsidiary	Gothenburg	Sweden	Professional and Commercial Equipment Wholesale		150
Onemed Oy	Subsidiary	Helsinki	Finland	Health and Personal Care Wholesale	54.6	74
Danpleje-OneMed Denmark A/S	Subsidiary	Aarhus N, 8	Denmark	Chemical Wholesale	0.0	50
OneMed AS	Subsidiary	Oslo	Norway	Professional and Commercial Equipment Wholesale		30
WL-Medical Oy	Subsidiary	Helsinki	Finland	Professional and Commercial Equipment Wholesale	9.8	12
OneMed OU	Subsidiary	Harjumaa, Laagri	Estonia	Professional and Commercial Equipment Wholesale		12
Danpleje OneMed A/S	Subsidiary	Roskilde	Denmark	Non-Metallic Mineral Product Manufacturing		10
UAB OneMed	Subsidiary	Vilnius	Lithuania	Professional and Commercial Equipment Wholesale
BATIST Medical a.s.	Subsidiary	Cerveny Kostelec	Czech Republic	Professional and Commercial Equipment Wholesale
Linon Cz S.R.O.	Subsidiary	Cerveny Kostelec	Czech Republic	Medical Equipment and Supplies	4.6	51
BATIST Medical SK s.r.o.	Subsidiary	Bratislava	Slovakia	Professional and Commercial Equipment Wholesale
OneMed SIA	Subsidiary	Riga, Marupe	Latvia	Professional and Commercial Equipment Wholesale
Hand-Prod Sp. z o. o.	Subsidiary	Warsaw	Poland	Professional and Commercial Equipment Wholesale
Global Garden Products Italy SpA	Subsidiary	Castelfranco Veneto, TV	Italy	Machinery and Equipment Manufacturing	425.7	599
GGP Sweden AB	Subsidiary	Tranås	Sweden	Machinery and Equipment Manufacturing	137.7	268
Ggp UK Ltd.	Subsidiary	Plymouth	United Kingdom	Machinery Wholesale	54.8	40
GGP GERMANY GmbH	Subsidiary	Straelen, Nordrhein-Westfalen	Germany	Machinery Wholesale	65.8	31
Ggp Finland Oy	Subsidiary	Vantaa	Finland	Home Furnishings Wholesale	20.8	11
Ggp France	Subsidiary	Steinbourg	France	Machinery Wholesale	31.9	18
Radius Systems Ltd.	Subsidiary	Alfreton	United Kingdom	Rubber and Plastic Product Manufacturing	136.2	369
Radius Plastics Ltd.	Subsidiary	Banbridge	United Kingdom	Rubber and Plastic Product Manufacturing	39.5	120
Radius Plus Ltd.	Subsidiary	Alfreton	United Kingdom	Rubber and Plastic Product Manufacturing	4.4	23
Uplus Ltd.	Subsidiary	Derby	United Kingdom	Rubber and Plastic Product Manufacturing		75
Radius 2008 Ltd.	Subsidiary	Alfreton	United Kingdom	Rubber and Plastic Product Manufacturing
JUNG PUMPEN GmbH	Subsidiary	Steinhagen, Nordrhein-Westfalen	Germany	Machinery and Equipment Manufacturing		350
Ateliers Lr Etanco	Subsidiary	Le Pecq	France	Metal Products Manufacturing		224
Friulsider SpA	Subsidiary	San Giovanni Al Natisone, Udine	Italy	Metal Products Manufacturing	49.7	148
Friulsider UK Ltd.	Subsidiary	Swansea	United Kingdom	Miscellaneous Wholesale		25
Etanco Benelux	Subsidiary	Wommelgem	Belgium	Construction and Hardware Materials Wholesale	9.9	22
3I Holdings PLC	Subsidiary	London	United Kingdom	Miscellaneous Professional Services		200
3I Asia Pacific PLC	Subsidiary	London	United Kingdom	Banking	0.0	300
3i Asia Pacific Ltd	Subsidiary	Singapore	Singapore	Investment Services		8
3i Hong Kong	Subsidiary	Hong Kong	Hong Kong	Commodities
3I PLC	Subsidiary	London	United Kingdom	Banking	306.1	215
Marken Ltd.	Subsidiary	Feltham	United Kingdom	Miscellaneous Transportation Services	87.3	257
Marken Ltd.	Subsidiary	Feltham	United Kingdom	Miscellaneous Professional Services	250.0	375
MARKEN Germany GmbH	Subsidiary	Hamburg, Hamburg	Germany	Research and Development Services	8.9	70
Marken Time Critical Express Ltd.	Subsidiary	Brentford	United Kingdom	Miscellaneous Transportation Services	9.2	16
Marken Ltd	Subsidiary	Singapore	Singapore	Postal, Shipping and Messengers	21.5	7
3i plc	Branch	Birmingham	United Kingdom	Investment Services		100
Capeflair Ltd.	Subsidiary	St Albans	United Kingdom			53
3I Investments PLC	Subsidiary	London	United Kingdom	Banking	36.5	2
3i Deutschland Gesellschaft fur Industriebeteiligungen mbH	Subsidiary	Frankfurt Am Main, Hessen	Germany	Investment Services		55
3i Gestion SA	Subsidiary	Paris	France	Pensions and Funds	9.9	40
Keolis SA	Subsidiary	Paris	France	Railroad Transport	6,214.0	49,931
Keolis Sverige AB	Subsidiary	Stockholm	Sweden	Mass Transit and Ground Passenger Transportation	413.5	4,009
Tunabergs Taxi Ab	Subsidiary	Nyköping, Södermanland	Sweden	Mass Transit and Ground Passenger Transportation	12.3	5
Keolis Lyon SA	Subsidiary	Lyon	France	Mass Transit and Ground Passenger Transportation	454.7	3,499
Transports en Commun de la Métropole Lilloise SA	Subsidiary	Marcq en Baroel	France	Mass Transit and Ground Passenger Transportation	342.9	3,499
Keolis Bordeaux	Subsidiary	Bordeaux	France	Mass Transit and Ground Passenger Transportation	200.8	3,499
Keolis Multimodal International	Subsidiary	Paris	France	Banking		3,499
Syntus	Subsidiary	Doetinchem	Netherlands	Mass Transit and Ground Passenger Transportation	175.7
Keolis Transit America, Inc.	Subsidiary	Los Angeles, CA	United States	Travel and Reservation Services		1,300
Keolis Rennes SA	Subsidiary	Rennes	France	Mass Transit and Ground Passenger Transportation	124.4	749
Les Courriers de l'Ile de France SAS	Subsidiary	Le Mesnil Amelot	France	Mass Transit and Ground Passenger Transportation	106.9	749
Keolis Dijon	Subsidiary	Chenove	France	Miscellaneous Professional Services	77.0	749
Keolis Angers	Subsidiary	St Barthelemy D Anjou	France	Mass Transit and Ground Passenger Transportation	62.0	749
Keolis Caen SARL	Subsidiary	Caen	France	Mass Transit and Ground Passenger Transportation	60.7	749
Keolis Tours	Subsidiary	St Pierre Des Corps	France	Mass Transit and Ground Passenger Transportation	55.2	749
Keolis Dijon SAS	Subsidiary	Dijon	France	Mass Transit and Ground Passenger Transportation	62.8	642
Keolis Brest SA	Subsidiary	Brest	France	Mass Transit and Ground Passenger Transportation	53.9	449
Société des Transports en Commun Nîmois SA	Subsidiary	Nîmes	France	Mass Transit and Ground Passenger Transportation	65.6	374
Keolis Atlantique SAS	Subsidiary	Nantes	France	Mass Transit and Ground Passenger Transportation	41.9	374
Keolis Armor	Subsidiary	Chantepie	France	Mass Transit and Ground Passenger Transportation	39.7	374
Keolis-Calvados	Subsidiary	Mondeville	France	Mass Transit and Ground Passenger Transportation	39.4	374
Keolis Trois Frontieres	Subsidiary	Metz	France	Mass Transit and Ground Passenger Transportation	37.2	374
Soc Versaillaise Transports Urbains	Subsidiary	Versailles	France	Mass Transit and Ground Passenger Transportation	37.1	374
Keolis Sud Lorraine	Subsidiary	Bouxieres Aux Dames	France	Mass Transit and Ground Passenger Transportation	31.8	374
Société Départementale des Transports du Var SA	Subsidiary	Hyères	France	Mass Transit and Ground Passenger Transportation	22.3	374
Monts Jura Autocars	Subsidiary	Besancon	France	Mass Transit and Ground Passenger Transportation	35.1	365
Keolis Urbest	Subsidiary	Besancon	France	Mass Transit and Ground Passenger Transportation	2.0	74
KEOLIS Deutschland GmbH & Co. KG	Subsidiary	Berlin, Berlin	Germany	Mass Transit and Ground Passenger Transportation	164.8	336
Trans Val De Lys	Subsidiary	Comines	France	Mass Transit and Ground Passenger Transportation	29.1	224
Keolis Pays De Montbeliard	Subsidiary	Voujeaucourt	France	Mass Transit and Ground Passenger Transportation	23.5	224
Les Courriers du Midi SAS	Subsidiary	Montpellier	France	Mass Transit and Ground Passenger Transportation	22.3	224
Soc Pour La Mobilite A Paris - Somap	Subsidiary	Paris	France	Mass Transit and Ground Passenger Transportation	16.2	224
Keolis Eure Et Loir	Subsidiary	Dreux	France	Mass Transit and Ground Passenger Transportation	11.1	224
Aerolis	Subsidiary	Le Mesnil Amelot	France	Mass Transit and Ground Passenger Transportation	34.1	149
Athis Cars Les Courriers De Lessonne	Subsidiary	Athis Mons	France	Mass Transit and Ground Passenger Transportation	27.3	149
Keolis Oise	Subsidiary	Senlis	France	Mass Transit and Ground Passenger Transportation	26.4	149
Autocars Planche	Subsidiary	Arnas	France	Mass Transit and Ground Passenger Transportation	25.7	149
Keolis Seine Maritime	Subsidiary	Fecamp	France	Mass Transit and Ground Passenger Transportation	19.7	149
Keolis Gironde	Subsidiary	St Medard En Jalles	France	Mass Transit and Ground Passenger Transportation	18.9	149
Westeel Voyages SAS	Subsidiary	Sallaumines	France	Mass Transit and Ground Passenger Transportation	17.8	149
Keolis Laval	Subsidiary	Laval	France	Mass Transit and Ground Passenger Transportation	16.6	149
Keolis Bourgogne	Subsidiary	Dijon	France	Mass Transit and Ground Passenger Transportation	16.5	149
Keolis Val De Saone	Subsidiary	Chatenoy Le Royal	France	Mass Transit and Ground Passenger Transportation	14.2	149
Keolis Drome Ardeche	Subsidiary	Portes Les Valence	France	Mass Transit and Ground Passenger Transportation	16.4	149
Transports Evrard	Subsidiary	Creil	France	Mass Transit and Ground Passenger Transportation	14.6	149
Keolis Emeraude	Subsidiary	St Malo	France	Mass Transit and Ground Passenger Transportation	14.5	149
Keolis Pyrenees	Subsidiary	Ibos	France	Mass Transit and Ground Passenger Transportation	13.1	149
Autocars Garrel et Navarre SARL	Subsidiary	Draveil	France	Mass Transit and Ground Passenger Transportation	12.7	149
Keolis Quimper	Subsidiary	Quimper	France	Mass Transit and Ground Passenger Transportation	12.4	149
Soc Cars Et Autobus De Cassis	Subsidiary	La Ciotat	France	Mass Transit and Ground Passenger Transportation	12.2	149
Keolis Aude SAS	Subsidiary	Narbonne	France	Mass Transit and Ground Passenger Transportation	12.0	149
Keolis Arras	Subsidiary	Arras	France	Mass Transit and Ground Passenger Transportation	11.4	149
Keolis Cherbourg	Subsidiary	Tourlaville	France	Mass Transit and Ground Passenger Transportation	11.0	149
Keolis Blois	Subsidiary	Blois	France	Mass Transit and Ground Passenger Transportation	10.4	149
Keolis Maritime Brest	Subsidiary	Brest	France	Miscellaneous Telecommunication Services	10.0	149
Transports Paris Nice	Subsidiary	Cusset	France	Mass Transit and Ground Passenger Transportation	9.9	149
Societe De Transports Par Autocars	Subsidiary	Ormoy	France	Mass Transit and Ground Passenger Transportation	9.8	149
Prioris	Subsidiary	St Denis	France	Miscellaneous Personal Services	9.4	149
Les Courriers Catalans SA	Subsidiary	Perpignan	France	Mass Transit and Ground Passenger Transportation	9.1	149
Keolis Centre	Subsidiary	St Doulchard	France	Mass Transit and Ground Passenger Transportation	8.6	149
Keolis Languedoc	Subsidiary	Agde	France	Mass Transit and Ground Passenger Transportation	6.6	149
Soc Transports Services Aeroportuaires	Subsidiary	St Denis	France	Mass Transit and Ground Passenger Transportation		149
Keolis Touraine	Subsidiary	St Pierre Des Corps	France	Holding Companies		149
Keolis Littoral	Subsidiary	Rochefort	France	Mass Transit and Ground Passenger Transportation	16.8	74
Intrabus Orly	Subsidiary	La Plaine St Denis	France	Mass Transit and Ground Passenger Transportation	10.4	74
Societe Des Transports Robert	Subsidiary	Lavera	France	Mass Transit and Ground Passenger Transportation	10.0	74
Keolis Saint Malo	Subsidiary	St Malo	France	Mass Transit and Ground Passenger Transportation	9.7	74
Societe Des Autocars De Provence	Subsidiary	Bouc Bel Air	France	Mass Transit and Ground Passenger Transportation	9.5	74
Keolis Manche	Subsidiary	Mondeville	France	Mass Transit and Ground Passenger Transportation	9.4	74
Keolis Gascogne	Subsidiary	St Pierre Du Mont	France	Mass Transit and Ground Passenger Transportation	9.2	74
Services Transports Agglomer Creil Stac	Subsidiary	Creil	France	Mass Transit and Ground Passenger Transportation	8.8	74
Keolis Nevers	Subsidiary	Nevers	France	Mass Transit and Ground Passenger Transportation	8.5	74
Keolis Chalons-En-Champagne	Subsidiary	Chalons En Champagne	France	Mass Transit and Ground Passenger Transportation	8.3	74
Cariane Littoral	Subsidiary	Gravelines	France	Mass Transit and Ground Passenger Transportation	7.8	74
Les Cars De Bordeaux	Subsidiary	Bordeaux	France	Mass Transit and Ground Passenger Transportation	6.8	74
Transports G E P Vidal	Subsidiary	Perpignan	France	Mass Transit and Ground Passenger Transportation	6.2	74
Aerobag	Subsidiary	Le Mesnil Amelot	France	Shipping and Water Transport	6.2	74
Keolis Pays Nanceien	Subsidiary	Bouxieres Aux Dames	France	Mass Transit and Ground Passenger Transportation	5.9	74
Voyages Monnet	Subsidiary	St Etienne De St Geoirs	France	Mass Transit and Ground Passenger Transportation	5.8	74
Keolis Chateauroux	Subsidiary	Chateauroux	France	Mass Transit and Ground Passenger Transportation	5.7	74
Keolis Agen	Subsidiary	Bon Encontre	France	Mass Transit and Ground Passenger Transportation	5.4	74
Keolis Montargis	Subsidiary	Villemandeur	France	Mass Transit and Ground Passenger Transportation	5.0	74
Keolis Garonne	Subsidiary	Mazeres	France	Mass Transit and Ground Passenger Transportation	4.9	74
Caron Voyages	Subsidiary	Outreau	France	Mass Transit and Ground Passenger Transportation	4.6	74
Keolis Grand Tarbes	Subsidiary	Tarbes	France	Mass Transit and Ground Passenger Transportation	4.2	74
Voyages Chargelegue	Subsidiary	Vasles	France	Mass Transit and Ground Passenger Transportation	3.4	74
Interhone-Alpes	Subsidiary	Villefranche Sur Saone	France	Mass Transit and Ground Passenger Transportation	2.3	74
Autocars Charrière Fils SA	Subsidiary	Privas	France	Mass Transit and Ground Passenger Transportation	5.5	53
Keolis Val D Oise	Subsidiary	Bernes Sur Oise	France	Mass Transit and Ground Passenger Transportation	6.2	49
Transroissy	Subsidiary	Roissy En France	France	Mass Transit and Ground Passenger Transportation	12.8	34
Voyages Autocars Services	Subsidiary	Romainville	France	Mass Transit and Ground Passenger Transportation	10.9	34
Keolis En Cevennes	Subsidiary	Ales	France	Mass Transit and Ground Passenger Transportation	7.9	34
Compagnie Transports Mediterraneens	Subsidiary	Cannes	France	Mass Transit and Ground Passenger Transportation	7.8	34
Val Trans Services Roissy - Vts Roissy	Subsidiary	Le Mesnil Amelot	France	Train and Railroad Equipment Manufacturing	6.2	34
Les Cars Du Bassin De Thau	Subsidiary	Frontignan	France	Mass Transit and Ground Passenger Transportation	5.4	34
Keolis Narbonne	Subsidiary	Narbonne	France	Mass Transit and Ground Passenger Transportation	5.0	34
Transports Palois Reunis	Subsidiary	Billere	France	Mass Transit and Ground Passenger Transportation	4.8	34
Les Cars Roannais Transport Manigaud	Subsidiary	Le Coteau	France	Mass Transit and Ground Passenger Transportation	4.3	34
Keolis Drouais	Subsidiary	Dreux	France	Mass Transit and Ground Passenger Transportation	4.0	34
Societe Rennaise De Transports Service	Subsidiary	Chantepie	France	Mass Transit and Ground Passenger Transportation	3.9	34
Keolis Chatellerault	Subsidiary	Chatellerault	France	Mass Transit and Ground Passenger Transportation	3.9	34
Keolis Chaumont	Subsidiary	Chaumont	France	Mass Transit and Ground Passenger Transportation	3.9	34
Transports De La Briere	Subsidiary	St Nazaire	France	Mass Transit and Ground Passenger Transportation	3.8	34
Etasse Tourisme	Subsidiary	Carentan	France	Mass Transit and Ground Passenger Transportation	3.6	34
Keolis Cote Dazur	Subsidiary	Nice	France	Mass Transit and Ground Passenger Transportation	3.5	34
Keolis Saintes	Subsidiary	Saintes	France	Mass Transit and Ground Passenger Transportation	3.3	34
Sarl Voyages Dourlens	Subsidiary	Bruay La Buissiere	France	Mass Transit and Ground Passenger Transportation	3.3	34
Keolis Alencon	Subsidiary	Alencon	France	Mass Transit and Ground Passenger Transportation	3.2	34
Keolis Morlaix	Subsidiary	St Martin Des Champs	France	Mass Transit and Ground Passenger Transportation	3.2	34
Keolis Abbeville	Subsidiary	Grenay	France	Mass Transit and Ground Passenger Transportation	3.0	34
Keolis Maritime Lorient	Subsidiary	Larmor Plage	France	Miscellaneous Telecommunication Services	2.9	34
Keolis Montelimar	Subsidiary	Montelimar	France	Mass Transit and Ground Passenger Transportation	2.8	34
Keolis Somme	Subsidiary	Senlis	France	Mass Transit and Ground Passenger Transportation	2.7	34
Millau Cars	Subsidiary	Creissels	France	Mass Transit and Ground Passenger Transportation	2.5	34
Keolis Concarneau	Subsidiary	Concarneau	France	Mass Transit and Ground Passenger Transportation	2.3	34
Keolis Val De Maine	Subsidiary	St Barthelemy D Anjou	France	Mass Transit and Ground Passenger Transportation	1.5	34
Societe Des Transports Darles	Subsidiary	Arles	France	Mass Transit and Ground Passenger Transportation	1.4	34
Ste Transp Exploit Francilieen Intermoda	Subsidiary	La Plaine St Denis	France	Mass Transit and Ground Passenger Transportation	1.3	34
Soc Pacific Cars	Subsidiary	St Denis	France	Mass Transit and Ground Passenger Transportation	0.1	34
Keolis Camargue SA	Subsidiary	Arles	France	Mass Transit and Ground Passenger Transportation	0.0	34
Autobus Darcachon (Les)	Subsidiary	La Teste De Buch	France	Mass Transit and Ground Passenger Transportation	4.3	32
Keolis Charente-Maritime	Subsidiary	Rochefort	France	Mass Transit and Ground Passenger Transportation	32.9	14
Cars Planche	Subsidiary	Savigneux	France	Mass Transit and Ground Passenger Transportation	3.6	14
Groupement Scac Bagnis	Subsidiary	Barjols	France	Mass Transit and Ground Passenger Transportation	2.0	14
Soc Gestion Laeroport Angers-Marce	Subsidiary	Marce	France	Air Transportation Services	1.9	14
Autocars Le Train Bleu De St Marcellin	Subsidiary	St Marcellin	France	Mass Transit and Ground Passenger Transportation	1.7	14
Aerosat	Subsidiary	Le Mesnil Amelot	France	Miscellaneous Professional Services	16.0	7
Les Transports Dunois	Subsidiary	Dun Le Palestel	France	Mass Transit and Ground Passenger Transportation	0.8	7
Keolis Artois Gohelle	Subsidiary	Lens	France	Mass Transit and Ground Passenger Transportation	67.5
Societe Transports Voyageurs Devillair	Subsidiary	Versailles	France	Mass Transit and Ground Passenger Transportation	15.3
Keolis Boulogne Sur Mer	Subsidiary	Grenay	France	Mass Transit and Ground Passenger Transportation	14.3
Institut Keolis	Subsidiary	Paris	France	Miscellaneous Educational Services	12.8
Keolis Nord Allier	Subsidiary	Yzeure	France	Mass Transit and Ground Passenger Transportation	7.5
A.R.Y.	Subsidiary	Issy Les Moulineaux	France	Commercial and Industrial Rental	6.4
Keolis Pmr Rhone	Subsidiary	St Priest	France	Mass Transit and Ground Passenger Transportation	4.5
Keolis Mobilite Hauts De Seine	Subsidiary	La Plaine St Denis	France	Mass Transit and Ground Passenger Transportation	1.9
Transports Et Services Aerolignes	Subsidiary	Le Mesnil Amelot	France	Mass Transit and Ground Passenger Transportation	0.3
Airelle	Subsidiary	La Plaine St Denis	France	Mass Transit and Ground Passenger Transportation	0.0
Kta	Subsidiary	Lyon	France	Mass Transit and Ground Passenger Transportation
Keolis Baie Des Anges	Subsidiary	Cannes	France	Mass Transit and Ground Passenger Transportation
Keolis Australia Pty Ltd	Subsidiary
3i Corporation	Subsidiary	New York, NY	United States	Investment Services		20
Mercia Services Ltd.	Subsidiary	Milton Keynes	United Kingdom
Kerner Leisure Ltd.	Subsidiary	Sheffield	United Kingdom
Investors In Industry Ltd.	Subsidiary	London	United Kingdom
Central Circuits Holdings Ltd.	Subsidiary	Telford	United Kingdom			224
Central Circuits (Telford) Ltd.	Subsidiary	Telford	United Kingdom			100
Telford Circuits Ltd.	Subsidiary	Telford	United Kingdom			97
Central Circuits Property Ltd.	Subsidiary	Telford	United Kingdom
3I Europe PLC	Subsidiary	London	United Kingdom	Banking	53.0	42
3i SGR	Subsidiary	Milan	Italy	Investment Services		15
3i Europe plc, Benelux	Subsidiary	Amsterdam	Netherlands	Investment Services		12
3i Switzerland Limited	Subsidiary	Zurich	Switzerland	Commodities		10
3i Europe plc	Subsidiary	Barcelona	Spain	Investment Services		4
3I Nordic PLC	Subsidiary	London	United Kingdom	Pensions and Funds	21.9	15
3i Sweden	Subsidiary	Stockholm	Sweden	Commodities	88.4	12
3I Nordic Plc (U.K.), Filial Sverige	Subsidiary	Stockholm, Stockholm	Sweden	Securities	4.0	10
Futaste Pharmaceutical Co., Ltd.	Subsidiary	Yucheng, Shandong	China	Basic Chemical Manufacturing	33.6
3I Efv Gp Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	20.7
3I Gp 2010 Ltd.	Subsidiary	London	United Kingdom	Banking	14.3
3I Gc Gp Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	6.8
3I Gp 2006-08 Ltd.	Subsidiary	London	United Kingdom	Banking	6.8
3I Gp 08-10 Ltd.	Subsidiary	London	United Kingdom	Banking	5.7
3I Osprey Gp Ltd.	Subsidiary	London	United Kingdom	Banking	5.0
3I Investments Gp Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	4.4
3I Networks Finland Ltd.	Subsidiary	London	United Kingdom	Banking	2.6
3I Ef4 Gp Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	1.4
Mayflower Gp Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	1.1
3I General Partner No 1 Ltd.	Subsidiary	London	United Kingdom	Banking	0.8
3I International Services PLC	Subsidiary	London	United Kingdom	Banking	0.7
Gp Ccc 08-10 Ltd.	Subsidiary	Edinburgh	United Kingdom	Banking	0.2
Iif Slp Gp Ltd.	Subsidiary	Edinburgh	United Kingdom	Banking	0.0
Gp Ccc 2010 Ltd.	Subsidiary	Edinburgh	United Kingdom	Banking	0.0
3I Gp 2004 Ltd.	Subsidiary	Edinburgh	United Kingdom	Miscellaneous Professional Services	0.0
3I Europe General Partner Ltd.	Subsidiary	London	United Kingdom	Banking	0.0
3I International Holdings	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
3I General Partner Ltd.	Subsidiary	London	United Kingdom	Banking	0.0
3I Europartners Ii Gp Ltd.	Subsidiary	London	United Kingdom	Banking	0.0
3I Ef3 Gpa Ltd.	Subsidiary	London	United Kingdom	Banking	0.0
3I Ef3 Gpb Ltd.	Subsidiary	London	United Kingdom	Banking	0.0
3I Aptech Gp Ltd.	Subsidiary	London	United Kingdom	Banking	0.0
3I Edith PLC	Subsidiary	London	United Kingdom	Banking
3I Investments Plc	Subsidiary	Singapore	Singapore	Pensions and Funds	0.4	3
3I Trustee Co. Ltd.	Subsidiary	London	United Kingdom	Banking
3I Pvlp Nominees Ltd.	Subsidiary	London	United Kingdom	Banking
3I Ef3 Nominees A Ltd.	Subsidiary	London	United Kingdom	Banking
3I Ef3 Nominees B Ltd.	Subsidiary	London	United Kingdom	Banking
3I Aptech Nominees Ltd.	Subsidiary	London	United Kingdom	Banking
3I 96 Partners Nominees Ltd.	Subsidiary	London	United Kingdom	Banking
Gardens Pension Trustees Ltd.	Subsidiary	London	United Kingdom	Insurance Agents
3I Nominees Ltd.	Subsidiary	London	United Kingdom	Banking
Pearl (Ap) Group Ltd.	Subsidiary	London	United Kingdom	Clothing and Apparel Stores	61.7	327
Pearl Financeco Ltd.	Subsidiary	London	United Kingdom	Holding Companies
Pearl Acquisitions Ltd.	Subsidiary	London	United Kingdom	Clothing and Apparel Stores	0.0
Agent Provocateur Ltd.	Subsidiary	London	United Kingdom	Clothing and Apparel Stores	61.7	327
Agent Provocateur	UK Branch/Trading address	London	United Kingdom	Clothing and Apparel Stores	61.7	5
Agent Provocateur Ltd.	UK Branch/Trading address	London	United Kingdom	Clothing and Apparel Stores	61.7	5
Agent Provocateur Ltd.	UK Branch/Trading address	Glasgow	United Kingdom	Clothing and Apparel Stores	61.7	5
Agent Provocateur Parfum Ltd.	Subsidiary	London	United Kingdom	Pharmacies and Personal Care Stores	0.0
Agent Provocateur	UK Branch/Trading address	London	United Kingdom	Clothing and Apparel Stores	0.0	3
3I Efiv Nominees Ltd.	Subsidiary	London	United Kingdom	Banking
3I Efv Nominees B Ltd.	Subsidiary	London	United Kingdom	Banking
3I Efv Nominees A Ltd.	Subsidiary	London	United Kingdom	Banking
3I Gc Nominees A Ltd.	Subsidiary	London	United Kingdom	Banking
3I Gc Nominees B Ltd.	Subsidiary	London	United Kingdom	Banking
Palace Street I Ltd.	Subsidiary	London	United Kingdom	Banking
3I Gp 2013 Ltd	Subsidiary	London	United Kingdom	Banking
Gp 2013 Ltd	Subsidiary	Edinburgh	United Kingdom	Banking
Dsv Air & Sea Sa	Subsidiary	Rubi, Barcelona	Spain	Miscellaneous Transportation Services	100.3	146
Itho Daalderop Operations B.V.	Subsidiary	Tiel, Gelderland	Netherlands	Electrical Equipment and Appliances Manufacturing	51.9	140
Hilite Germany GmbH	Subsidiary	Marktheidenfeld, Bayern	Germany	Motor Vehicle Parts Manufacturing	309.2	130
Hilite Germany GmbH	Unit	Nurtingen	Germany	Motor Vehicle Parts Manufacturing		220
Hilite International, Inc. - Whitehall	Unit	Whitehall, MI	United States	Motor Vehicle Parts Manufacturing	332.0	200
Hilite International	Branch	Carrollton, TX	United States	Motor Vehicle Parts Manufacturing	175.2	250
Hilite International	Branch	Lake Orion, MI	United States	Motor Vehicle Parts Manufacturing	3.4	8
ELTEL Group Corporation	Subsidiary	Espoo	Finland	Holding Companies	1,473.0	100
ELTEL Networks A/S	Division	Glostrup	Denmark	Civil Engineering	136.6	600
Eltel Networks AS	Division	Oslo	Norway	Civil Engineering	149.9	551
ELTEL Networks AS	Division	Tallinn	Estonia	Specialty Construction Trade Contractors		500
UAB Eltel Networks	Division	Vilnius	Lithuania	Specialty Construction Trade Contractors		496
Eltel Group Oy	Subsidiary	Espoo	Finland	Metal Products Manufacturing	334.0	200
ELTEL Networks S.A.	Subsidiary	Poznan	Poland	Specialty Construction Trade Contractors		1,600
Eltel Networks Pohjoinen Oy	Subsidiary	Espoo	Finland	Civil Engineering	63.4	266
Eltel Networks UK Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Telecommunication Services	4.2
ELTEL Networks SIA	Division	Riga	Latvia	Specialty Construction Trade Contractors
ELTEL Networks Telecom Sp. z o.o.	Division	Warsaw	Poland	Civil Engineering
GEKA GmbH	Subsidiary	Bechhofen, Bayern	Germany	Rubber and Plastic Product Manufacturing	106.4	65
Trescal s.r.l.	Subsidiary	Travagliato, BS	Italy	Appliance Repair and Maintenance	8.2	59
Element Materials Technology B.V.	Subsidiary	Amsterdam	Netherlands	Architecture and Engineering		40
Element Materials Technology	Subsidiary	Rancho Dominguez, CA	United States	Architecture and Engineering		60
Element Materials Technology	Subsidiary	Cleveland, OH	United States	Architecture and Engineering		50
Element Materials Technology	Branch	Houston, TX	United States	Architecture and Engineering		125
Element Materials Technology	Branch	St Paul, MN	United States	Architecture and Engineering		100
Sherry Laboratories	Subsidiary	Daleville, IN	United States	Architecture and Engineering		89
Sherry Laboratories	Branch	Broken Arrow, OK	United States	Architecture and Engineering	25.0	59
Sherry Laboratories	Branch	Lafayette, LA	United States	Architecture and Engineering	25.0	50
Sherry Laboratories	Branch	Shreveport, LA	United States	Architecture and Engineering		35
Sherry Laboratories	Branch	Cambridge, OH	United States	Architecture and Engineering		35
Sherry Laboratories	Branch	Muncie, IN	United States	Architecture and Engineering		20
Sherry Laboratories	Branch	Scott, LA	United States	Architecture and Engineering	25.0	18
Sherry Laboratories	Branch	Fort Wayne, IN	United States	Architecture and Engineering		15
Sherry Laboratories	Branch	Garland, TX	United States	Architecture and Engineering		8
Sherry Laboratories	Branch	Columbus, IN	United States	Architecture and Engineering		4
Sherry Laboratories	Branch	Warsaw, IN	United States	Architecture and Engineering	0.8	3
Sherry Laboratories	Branch	South Bend, IN	United States	Architecture and Engineering		2
Sherry Laboratories Of Louisiana Llc	Subsidiary	Lafayette, LA	United States	Architecture and Engineering
Element Materials Technology	Branch	Warren, MI	United States	Architecture and Engineering		85
Element Materials Technology	Branch	Cleveland, OH	United States	Architecture and Engineering		75
Element Materials Technology	Branch	Charlotte, NC	United States	Architecture and Engineering		50
Element Materials Technology	Branch	Jupiter, FL	United States	Architecture and Engineering		50
Delsen Testing Laboratories	Subsidiary	Glendale, CA	United States	Architecture and Engineering	3.1	49
Element Materials Technology	Branch	Cincinnati, OH	United States	Architecture and Engineering	25.0	35
Element Materials Technology	Branch	Wixom, MI	United States	Architecture and Engineering		35
Element Materials Technology	Branch	Bothell, WA	United States	Architecture and Engineering		35
Element Materials Technology	Branch	New Berlin, WI	United States	Architecture and Engineering	3.0	34
Element Materials Technology	Branch	Cincinnati, OH	United States	Architecture and Engineering	25.0	30
Element Materials Technology	Branch	Newtown, PA	United States	Architecture and Engineering		29
Delsen Testing Laboratories	Subsidiary	Glendale, CA	United States	Architecture and Engineering		28
Element Materials Technology	Branch	Des Moines, IA	United States	Architecture and Engineering		11
Element Materials Technology	Branch	Melbourne, FL	United States	Architecture and Engineering		3
Element Materials Technology	Branch	Wausau, WI	United States	Architecture and Engineering		2
Easysoft-Software e Sistemas SA	Subsidiary	Amadora	Portugal	Music		40
Trescal B.V.	Subsidiary	Zoetermeer	Netherlands	Industrial Machinery Repair and Maintenance		35
Trescal GmbH	Subsidiary	Darmstadt, Hessen	Germany	Industrial Machinery Repair and Maintenance	15.0	30
3i Group PLC	Subsidiary	New York, NY	United States	Electronics Wholesale		14
3I India Private Limited	Subsidiary	Mumbai, Maharashtra	India	Investment Services		4
3I Bifm Investments Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	17.3
Biif Gp Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	13.6
Biif Holdco Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	502.2	50
Biif Issuerco Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Biif Parentco Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Biif Bidco Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Infrastructure Managers Ltd.	Subsidiary	Edinburgh	United Kingdom	Miscellaneous Professional Services	13.1	50
Lanterndew Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	12.7
Nuffield Albion Healthcare Ltd.	Subsidiary	London	United Kingdom	Pensions and Funds	0.0
Elgin Water Ltd.	Subsidiary	Edinburgh	United Kingdom	Miscellaneous Professional Services	0.0
Elbon Holdings (3) Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Elbon Holdings (1) Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.1
Blackshaw Healthcare Services Holdings Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.2
Blackshaw Healthcare Services Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	7.2
Wansbeck Healthcare Facilities (Holdings) Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.1
Wansbeck Healthcare Facilities Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.9
Luton Health Facilities (Holdings) Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.1
Luton Health Facilities Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.8
Infrastructure Investors Castlehill Holdings Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Infrastructure Investors Castlehill Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.8
Machrie Burn Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Machrie Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	3.5
Gh Bury Holdings Ltd.	Subsidiary	London	United Kingdom	Holding Companies	0.0
Gh Bury Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	1.9
Gh Newham Holdings Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Gh Newham Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	4.2
Gh Bodmin Holdings Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
G H Bodmin Ltd.	Subsidiary	London	United Kingdom	Hospitals	2.3
Newmount Holdings Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Personal Services	0.0
Newmount Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Personal Services	2.5
Eastbrook Facilities Holdings 2 Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Eastbrook Facilities Holdings Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Eastbrook Facilities Ltd.	Subsidiary	London	United Kingdom	Residential and Commercial Building Construction	6.0
Kinnoull House Holdings Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Anavon Holdings Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Anavon Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Kintra Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Personal Services	2.6
Grannag Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Personal Services	1.7
Normanby Healthcare Group Holdings Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Normanby Healthcare (Holdings) Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Normanby Healthcare (Projects) Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.8
Robertson Health (Chester Le Street) Group Holdings Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Robertson Health (Chester Le Street) Holdings Ltd.	Subsidiary	London	United Kingdom	Holding Companies	0.0
Robertson Health (Chester Le Street) Ltd.	Subsidiary	London	United Kingdom	Physicians and Health Practitioners	2.5
Robertson Education (Ingleby Barwick) Group Holdings Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Robertson Education (Ingleby Barwick) (Holdings) Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Pfi Senior Funding Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Durham Investments Holdco Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Elbon Holdings (2) Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Summit Holdings (Wishaw) Ltd.	Subsidiary	Edinburgh	United Kingdom	Hospitals	21.6
Morris Eddie Ltd.	Subsidiary	Edinburgh	United Kingdom	Residential and Commercial Building Construction	0.0
Adams Campus Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	1.6
Elbon Pfi Fund (Investments) Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Hpc King's College Hospital (Holdings) Ltd.	Subsidiary	London	United Kingdom	Hospitals	34.9	2
Hpc King's College Hospital Ltd.	Subsidiary	London	United Kingdom	Hospitals	34.9	2
Hpc King's College Hospital (Issuer) PLC.	Subsidiary	London	United Kingdom	Banking	0.0
Robertson Education (Aberdeenshire) Group Holdings Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Reno (Highland) Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
International Water (Highlands) Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Personal Services	0.0
International Water (Tay) Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Iwl Moray Montrose Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Personal Services	0.0
Reno (Tay) Ltd.	Subsidiary	London	United Kingdom	Holding Companies	0.0
Reno (Moray) Ltd.	Subsidiary	London	United Kingdom	Holding Companies	0.0
Infrastructure Investors Ltd.	Subsidiary	London	United Kingdom		0.0
M1-A1 Investments Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
M1-A1 Yorkshire Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
A-Roads Investments Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Connect Roads Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	17.5
Connect A50 Ltd.	Subsidiary	London	United Kingdom	Civil Engineering	17.5
Tbep Investments Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
I2 Holdco 2 Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Matrix Pfi Developments Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Kilmarnock Pfi Holdings Ltd.	Subsidiary	London	United Kingdom	Holding Companies	0.0
Kilmarnock Prison Services Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	18.7
I2 Holdco Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
I2 Bidco Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Matrix Pfi Holdings Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Matrix Premier Holdings Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Defence Management (Holdings) Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	34.0
Defence Management (Watchfield) Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	34.0
Premier Custodial Investments Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Moreton Prison Services Ltd.	Subsidiary	London	United Kingdom	Courts, Justice and Public Safety	45.4
Lowdham Grange Prison Services Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Personal Services	37.3
Pucklechurch Custodial Services Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	35.7
Medomsley Training Services Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	11.4
Premier Custodial Finance Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Premier Custodial Sub-Debt Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Defence Management Group Holdings Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Matrix Fpms Holdings Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Matrix Fpms Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Sd Marine Services (Holdings) Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Sd Marine Services Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	79.9
Tis Group Holdings Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services
Tis Investments Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Traffic Information Services (Tis) Holdings Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Traffic Information Services (Tis) Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Matrix Pfi Gp Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services
Am Holdco Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Investment Holdings (Genistics) Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Hsc Investments Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Duchesspark Holdings Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Duchesspark Ltd.	Subsidiary	London	United Kingdom	Banking	0.0
Eri Holdings Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Iwuuhh Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Cricketdrift Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Nvsh Topco Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Nvsh Holdco Ltd.	Subsidiary	Edinburgh	United Kingdom	Miscellaneous Professional Services	0.0
Alert Communications Group Holdings Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Telecommunication Services
Alert Communications (Holdings) Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services
Alert Communications Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Telecommunication Services	13.6
Alert Communications (2006) Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Telecommunication Services
Biif Holdco Iii Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services
Biif Holdco Ii Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Black Hill Wind Farm Topco Ltd.	Subsidiary	Kings Langley	United Kingdom	Electricity Generation and Distribution	0.0
Black Hill Wind Farm Holdco Ltd.	Subsidiary	Kings Langley	United Kingdom	Electricity Generation and Distribution	0.0
Black Hill Wind Farm Ltd.	Subsidiary	Kings Langley	United Kingdom	Electricity Generation and Distribution	10.9
Biif Corporate Services Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Personal Services
Beif Ii Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	5.5
Bwp Services (Holdings No 1) Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	0.0
Bwp Services (Holdings No 2) Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services
Bwp Project Services Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	211.7
Investments In Education Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services
Cruse 9 Investments Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services
Beif Ii Corporate Services Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services
Bam General Partner Ltd.	Subsidiary	London	United Kingdom	Miscellaneous Professional Services	2.0
Beif Management Ltd.	Subsidiary	Hoddesdon	United Kingdom	Miscellaneous Professional Services
3I Group Investments Gp Ltd.	Subsidiary	London	United Kingdom	Banking	0.1
Abx Logistics (Nederland) B.V.	Subsidiary	Venlo, Limburg	Netherlands	Data Processing
Dsv Solutions Nederland B.V.	Subsidiary	Zevenbergen, Noord-Brabant	Netherlands	Road Transportation Services	161.4	654
Dsv Solutions Nederland B.V.	Branch	Venlo, Limburg	Netherlands	Trucking		123
Vts Beheer B.V.	Subsidiary	Venlo, Limburg	Netherlands	Data Processing
Hbj 351 Ltd.	Subsidiary	Edinburgh	United Kingdom	Miscellaneous Professional Services
F.E.V.A (UK) Ltd.	Subsidiary	Bourne End	United Kingdom	Home Furnishings Wholesale
Dockwise Transport B.V.	Subsidiary	Breda, North Brabant	Netherlands	Shipping and Water Transport
Blue Marlin B.V.	Subsidiary	Breda, North Brabant	Netherlands	Shipping and Water Transport		1,000
Dockwise Shipping B.V.	Subsidiary	Breda, North Brabant	Netherlands	Shipping and Water Transport	479.3	200
Dockwise Shipping Australia Pty. Ltd.	Subsidiary	Perth, WA	Australia	Shipping and Water Transport		120
Dockwise USA LLC	Subsidiary	Houston, TX	United States	Shipping and Water Transport	0.9	50
Dockwise B.V.	Subsidiary	Breda, North Brabant	Netherlands	Shipping and Water Transport		200
Dockwise Transporter B.V.	Subsidiary	Breda, North Brabant	Netherlands	Shipping and Water Transport
Waterloo Trustee Co. Ltd.	Subsidiary	London	United Kingdom	Banking
Atle AB	Subsidiary	Stockholm	Sweden	Investment Services
MEMORA Servicios Funerarios S.L.	Subsidiary	Barcelona	Spain	Death Care Services
Servilusa - Agências Funerárias, S.A.	Subsidiary	Amadora, Amadora	Portugal	Death Care Services	34.5	300
3I Debt Management Ltd.	Subsidiary	London	United Kingdom	Banking
3I Debt Management Investments Ltd.	Subsidiary	London	United Kingdom	Investment Services	50.9	32
DERPROSA, S.A.	Subsidiary	Madrid	Spain	Petroleum Product Manufacturing
Harper Topco Ltd.	Subsidiary	London	United Kingdom

Competitors Report

CompanyName	Location	Employees	Ownership
Italfarmaco SpA	Milano, MI, Italy	571	Public
Montefibre S.p.A.	Milano, Italy	382	Public
Radici Partecipazioni Spa	Gandino, Italy	3,500	Private

Azelis France SAS

Paris, , France, Tel: +33 01 44 73 10 00, URL: http://www.azelis.com

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Board of Directors

Name

Title

Function

Alan Peterson

Chairman

Executives

Name

Title

Function

Joris Coppye

Chief Executive Officer

Michel Vandermeiren

President

Hans Udo Wenzel

President

Rudy Bruylandts

General manager

Division Head Executive

Martin Hollenhorst

General manager

Division Head Executive

Hans Joachim Muller

General manager

Division Head Executive

Zsombor Bereczki

Managing Director

Lorenzo Ceccarelli

Managing Director

Patrik Edström

Managing Director

Laurent Nataf

Managing Director

Ebru Telli

Managing Director

Michael Thomson

Managing Director

Joan Traynor

Managing Director

Günther Krausser

Chief Financial Officer

Finance Executive

Michel Dubois

Chief Strategy Officer

Planning Executive

News

Sensus Announces Partnership with Azelis France
Nutrition Horizon (446 Words)

06-May-2013

Annual Profit & Loss

	31-Dec-2012	31-Dec-2011	31-Dec-2010
Period Length	12 Months	12 Months	12 Months
Filed Currency	EUR	EUR	EUR
Exchange Rate (Period Average)	0.778237	0.71919	0.755078
Consolidated	No	No	No

Total income	218.0	257.5	210.6
Net sales	216.2	256.2	209.5
Change in stock	1.5	3.3	-4.4
Own work capitalised	-	-	0.1
Supplementary operating income	1.7	1.2	1.0
Other operating income	0.0	0.1	0.0
Other external charges	13.3	16.3	15.1
Cost of goods sold	175.0	207.1	175.1
Taxes and social security costs	1.6	1.7	1.4
Social charges	4.9	4.9	5.0
Total payroll costs	11.3	11.6	11.5
Cost of stock depreciation and amortisation	3.3	4.3	1.4
Fixed asset depreciation and amortisation	0.3	0.3	0.6
Other operating costs	1.1	0.4	0.1
Total operating costs	212.4	249.9	205.8
Net operating income	5.5	7.6	4.7
Total financial income	0.8	0.4	0.4
Interest payable on loans	1.4	1.9	1.8
Other expenses	0.2	0.1	0.1
Total expenses	1.7	2.0	1.9
Profit before tax	4.7	6.0	3.2
Extraordinary income	2.1	1.5	0.4
Extraordinary expenses	4.7	2.0	0.2
Extraordinary result	-2.6	-0.5	0.2
Total taxation	2.5	2.2	0.2
Profit distributed to employees	0.7	-	-
Net profit	-	3.3	3.3
Net loss	1.2	-	-

Annual Balance Sheet

Financials in: USD (mil)

	31-Dec-2012	31-Dec-2011	31-Dec-2010
Filed Currency	EUR	EUR	EUR
Exchange Rate	0.7566	0.770327	0.745406
Consolidated	No	No	No

Issued capital	4.0	3.9	4.0
Total reserves	0.4	0.4	0.4
Profits for the year	-1.3	3.1	3.3
Profit brought forward from previous year(s)	13.1	9.8	6.8
Total stockholders equity	16.2	17.2	14.5
Provisions and allowances	7.0	5.0	2.0
Trade creditors	31.3	34.7	43.5
Advances received	2.7	0.2	0.3
Bank loans and overdrafts	30.0	39.3	37.0
Other loans	-	-	0.0
Other liabilities	0.2	1.8	4.1
Debts on fixed assets	-	-	0.0
Income stated in advance	-	-	0.0
Taxation and social security	6.9	7.0	6.6
Total current liabilities	38.7	47.0	54.3
Total debts	71.1	83.0	91.5
Total liabilities (including net worth)	94.3	105.1	108.0
Patents	0.1	0.3	0.2
Goodwill	30.9	34.4	36.6
Other fixed assets	0.2	0.3	0.5
Long-term investments	0.2	0.2	0.2
Other financial assets	0.2	0.7	1.0
Total non-current assets	31.6	35.9	38.4
Prepayments	5.1	1.5	1.3
Net stocks and work in progress	10.2	11.6	15.1
Trade debtors	25.9	38.0	37.2
Other receivables	11.5	16.2	6.6
Prepaid expenses	0.4	0.3	0.4
Cash and liquid assets	9.5	1.6	8.9
Total current assets	62.7	69.2	69.6
Total assets	94.3	105.1	108.0

Annual Ratios

Financials in: USD (mil)

	31-Dec-2012	31-Dec-2011	31-Dec-2010
Period Length	12 Months	12 Months	12 Months
Filed Currency	EUR	EUR	EUR
Exchange Rate	0.7566	0.770327	0.745406
Consolidated	No	No	No

Current ratio	1.60	1.50	1.30
Quick ratio	1.40	1.20	1.00
Total liabilities to net worth	-4.80%	-4.73%	-4.12%
Net worth to total assets	-0.16%	-0.17%	-0.21%
Collection period	35.30	48.20	53.20
Stock turnover rate	21.70	20.70	14.00
Asset turnover	2.36%	2.28%	1.96%
Profit margin	0.02%	0.02%	0.02%
Return on assets	0.05%	0.05%	0.03%
Shareholders' return	-0.32%	-0.32%	-0.15%
Sales per employee	9,196.26	9,085.88	7,463.62
Profit per employee	198.87	212.61	115.76
Average wage per employee	481.16	412.74	410.09
Net worth	16.2	17.2	14.5
Number of employees	120	133	139

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.20
UK Pound	1	Rs.102.35
Euro	1	Rs.84.95

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%)

MIRA INFORM REPORT

Company name and address

Business Description

Industry

Key Executives

News

Corporate Overview

Corporate Structure News:

Competitors Report

News

Annual Profit & Loss

Unit