MIRA INFORM REPORT

Report Date :

20.03.2014

IDENTIFICATION DETAILS

Name :	RAILTECH INTERNATIONAL
Registered Office :	Zone Industrielle, Rue Du Bas Pre, 59590 Raismes
Country :	France
Financials (as on) :	31.12.2010
Date of Incorporation :	December 1992
Com. Reg. No.:	RCS Valenciennes 9 389 670 142
Legal Form :	Public limited company with board of directors
Line of Business :	Engaged in manufacturing of metal products such as chains and springs
No. of Employees	250 to 499 employees

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 – december 01, 2013

Country Name	Previous Rating (30.09.2013)	Current Rating (01.12.2013)
France	A1	A1

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 reduce income disparity and the impact of free markets on public health and welfare. France's real GDP contracted 2.6% in 2009, but recovered somewhat in 2010 and 2011, before stagnating in 2012. The unemployment rate increased from 7.4% in 2008 to 10.3% in 2012. Youth unemployment shot up to 24.2% during the third quarter of 2012 in metropolitan France. Lower-than-expected growth and high unemployment costs 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 4.5% of GDP in 2012, while France's public debt rose from 68% of GDP to 89% over the same period. Under President SARKOZY, Paris implemented some austerity measures to bring the budget deficit under the 3% euro-zone ceiling by 2013 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 pro-growth economic policies, 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 attempt to introduce a 75% wealth tax on income over one million euros for two years was struck down by the French Constitutional Council in December 2012 because it applied to individuals rather than households. France ratified the EU fiscal stability treaty in October 2012 and HOLLANDE's government has maintained France's commitment to meeting the budget deficit target of 3% of GDP during 2013 even amid signs that economic growth will be lower than the government's forecast of 0.8%. Despite stagnant growth and fiscal challenges, France's borrowing costs declined during the second half of 2012 to euro-era lows.

Source : CIA

company summary

Name

RAILTECH INTERNATIONAL

SIRET

389 670 142 00030

		EUR VAT Number	FR00389670142
Activity (APE)	engaged in manufacturing of metal products such as chains and springs	Legal form	Public limited company with board of directors
Phone	03 27 22 26 26	RCS Registration	RCS Valenciennes 9 389 670 142
Fax		Share capital	15,851,323 Euros
Address	RAILTECH INTERNATIONAL ZONE INDUSTRIELLE RUE DU BAS PRE 59590 RAISMES	Incorporated Date	01/1993
Nationality	France	Status	Economically active

No social security and tax office preferential right to date

Ultimate Holding Company

Company Name

ANDE INVESTISSEMENT SA

Current Directors

3

Trading to Date	12/31/2010	12/31/2009	12/31/2008
Turnover	110,185,138 €	122,873,567 €	119,709,484 €
Gross Operating Surplus	19,16 % Turnover	17,70 % Turnover	13,84 % Turnover
Shareholders’ equity	117,968,500 €	104,900,785 €	98,219,253 €
Net result	18,365,133 €	16,817,050 €	13,547,199 €
Employees	250 to 499 employees	-	-

Trends
Profitability
Liquidity
Net worth

company details

Activity (APE)	engaged in manufacturing of metal products such as chains and springs
RCS Registration	RCS Valenciennes 9 389 670 142	Share capital	15,851,323 Euros
Registration Court	Valenciennes (59)	Legal form	Public limited company with board of directors
Court Registry Number	19 9 6B00073	EUR VAT Number	FR00389670142
Incorporation Date	01/1993	Formation Date	12/1992
Deregistration Date		Last account Date	31/12/2010
Nationality	France

Establishment details

Activity (APE)	Engaged in manufacturing of Metal products such as chains and springs	Business Pages FT®	MATERIEL ET FOURNITURES POUR SOUDURE
Postal Address	RAILTECH INTERNATIONAL  ZONE INDUSTRIELLE  RUE DU BAS PRE  59590 RAISMES	Trading Address	RUE DU BAS PRE  59590 RAISMES
Telephone	03 27 22 26 26
Fax

Type	Head office	Status	Economically active
Formation Date	10/2004	Reason for formation	Other
Closure Date		Reason for closure
Reactivation Date		Production Role
Activity Nature		Activity Location
Location surface		Seasonality

Department	Nord (59)	Region	Nord-Pas-de-Calais
District	6	Area	55
City	RAISMES	Size of urban area	Urban unit with 200 000 to 1 999 999 inhabitants

Other establishments

Branches	4 branch entities in this company
Head office	> RAILTECH INTERNATIONAL <<<  - Fabrication d'articles en fils métalliques, de chaînes et de ressorts (2593Z)  in RAISMES  (59590)
Secondary establishments	>  PROMORAIL  - Sidérurgie (271Y)  in PARIS 8  (75008)  >  RAILTECH INTERNATIONAL  - Fabrication d'articles en fils métalliques, de chaînes et de ressorts (2593Z)  in ARS SUR MOSELLE  (57130)  >  RAILTECH INTERNATIONAL  - Fabrication d'articles en fils métalliques, de chaînes et de ressorts (2593Z)  in GENNEVILLIERS  (92230)  >  RAILTECH INTERNATIONAL  - Fabrication d'articles en fils métalliques, de chaînes et de ressorts (2593Z)  in DOUAI  (59500)  > ...

Rationality	Legal unit with multiple establishments in many areas having at least 50% of workforce in same area
Mono-activity status	Legal unit with multiple establishments having main activities in many divisions, which one activity grouping from 50 to 80% of workforce

Workforces

Workforce at address

100 to 199 employees

Company workforce

250 to 499 employees

accounts

Active Account |  Passive Account |  Account Results

Synthesized Accounts 

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2010	31/12/2009	31/12/2008
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	13/07/2011	18/08/2010	-
Activity Code	2593Z	2593Z	2593Z
Employees	0	0	0

Active account

Annual Accounts	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	21 455 345	-3,0%	22 130 073	-16,2%	26 402 852	232 096	9144,2%
- Intangible assets	728 576	-7,1%	783 922	11,9%	700 345	6 098	11847,8%
- Tangible assets	8 622 771	-4,8%	9 056 416	17,3%	7 719 294	162 093	5219,6%
- Financial assets	12 103 998	-1,5%	12 289 735	-31,7%	17 983 213	6 250	193564,0%
Net current assets	137 505 143	18,3%	116 217 308	-1,9%	118 442 301	1 395 501	9753,5%
- Stocks	17 956 459	6,8%	16 805 762	-19,6%	20 896 648	327 432	5384,0%
- Advanced payments	20 970	18,3%	144 101	148,7%	57 945	0	0%
- Receivables	60 562 594	74,4%	34 726 268	-17,4%	42 059 596	602 395	9953,6%
- Securities and cash	58 965 120	-8,6%	64 541 177	16,4%	55 428 112	135 630	43375,0%
- Prepaid expenses	-	-	-	-	-	0	-
Accounts of regularization	163 843	-56,9%	380 310	104,8%	185 703	0	0%
Total Assets	159 124 331	14,7%	138 727 694	-4,3%	145 030 855	1 798 820	8746,0%

Passive Account

Annual Accounts	31/12/2010		31/12/2009		31/12/2008	Sector Median2010
Shareholders' equity	117 968 500	12,5%	104 900 785	6,8%	98 219 253	767 816	15264,2%
Share capital	15 851 323	0%	15 851 323	0%	15 851 323	106 768	14746,5%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	3 098 223	122,5%	1 392 270	16,5%	1 195 288	0	0%
Liabilities	37 939 194	17,1%	32 410 718	-28,5%	45 324 060	836 143	4437,4%
- Financial liabilities	3 028 836	19,3%	2 538 023	12,9%	2 248 369	165 345	1731,8%
- Advanced payments received	2 363 273	185,3%	828 285	-16,6%	993 392	0	0%
- Trade account payables	19 715 059	16,7%	16 896 944	-47,1%	31 911 197	337 677	5738,4%
- Tax and social liabilities	7 486 683	-3,4%	7 752 820	32,6%	5 846 746	178 006	4105,9%
- Other debts and fixed assets liabilities	5 412 251	23,1%	4 397 957	-3,8%	4 569 440	6 701	80667,8%
Account regularization	51 506	149,9%	20 611	-56,3%	47 172	0	0%
Total liabilities	159 124 331	14,7%	138 727 694	-4,3%	145 030 855	1 798 821	8746,0%

Results

Annual Accounts	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Sales of Goods	113 253 655	-7,6%	122 554 056	-0,5%	123 159 908	2 840 463	3887,2%
Net turnover	110 185 138	-10,3%	122 873 567	2,6%	119 709 484	2 752 427	3903,2%
- of which net export turnover	65 055 991	-5,0%	68 468 215	-1,6%	69 583 830	0	0%
Operating charges	93 254 777	-8,9%	102 347 296	-6,0%	108 837 782	2 653 760	3414,1%
Operating profit/loss	19 998 878	-1,0%	20 206 760	41,1%	14 322 126	42 961	46451,2%
Financial income	5 688 085	51,4%	3 756 425	-33,2%	5 622 839	714	796550,6%
Financial charges	612 576	-17,6%	743 308	-2,8%	765 084	8 075	7486,1%
Financial profit/loss	5 075 509	68,4%	3 013 117	-38,0%	4 857 755	-3 157	160870,0%
Pretax net operating income	25 074 387	8,0%	23 219 877	21,1%	19 179 881	34 964	71614,9%
Extraordinary income	51 878	-96,0%	1 312 386	0%	0	8 778	491,0%
Extraordinary charges	0	0%	0	0%	286 216	2 761	0%
Extraordinary profit/loss	51 878	-96,0%	1 312 386	558,5%	-286 216	93	55682,8%
Net result	18 365 133	9,2%	16 817 050	24,1%	13 547 199	32 935	55661,8%

Display parameter
Currency	Euro	Kilo Euro

Normal Account	31/12/2010	31/12/2009	31/12/2008
Months	12	12	12

Accounts - Active 
Current Assets |  Equalization accounts |  Reference 

Grand Total - Passive Accounts (I to IV)

			31/12/2010		31/12/2009		31/12/2008
	Grand Total (I to VI)	Net	159 124 331	14,7%	138 727 694	-4,3%	145 030 855
	Gross	CO	193 004 949	12,7%	171 291 804	-2,9%	176 378 419
	Amortisation	1A	33 880 618	4,0%	32 564 110	3,9%	31 347 564

Non declared distributed capital (I)

		31/12/2010		31/12/2009		31/12/2008
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	-	0

Active fixed asset (II)

			31/12/2010		31/12/2009		31/12/2008
	Total Active fixed asset (II)	Net	21 455 345	-3,0%	22 130 073	-16,2%	26 402 852
	Gross	BJ	52 569 383	0,4%	52 367 114	-6,4%	55 918 299
	Amortisation	BK	31 114 038	2,9%	30 237 041	2,4%	29 515 447

Intangilble fixed assets

			31/12/2010		31/12/2009		31/12/2008
	Start-up cost	Net	0	0%	0	0%	0
	Gross	AB	0	0%	0	0%	0
	Amortisation	AC	0	0%	0	0%	0
	R & D expenses	Net	0	0%	0	0%	0
	Gross	CX	0	0%	0	0%	0
	Amortisation	AE	0	0%	0	0%	0
	Distributorships, patents	Net	0	0%	0	0%	0
	Gross	AF	0	0%	0	0%	0
	Amortisation	AG	0	0%	0	0%	0
	Goodwill	Net	0	0%	0	0%	0
	Gross	AH	0	0%	0	0%	0
	Amortisation	AI	0	0%	0	0%	0
	Other intangible fixed assets	Net	728 576	-7,1%	783 922	11,9%	700 345
	Gross	AJ	5 954 215	0,3%	5 933 895	1,8%	5 831 522
	Amortisation	AK	5 225 639	1,5%	5 149 973	0,4%	5 131 177
	Pre-payments and downpayments	Net	0	0%	0	0%	0
	Gross	AL	0	0%	0	0%	0
	Amortisation	AM	0	0%	0	0%	0
Sub Total Intangible Assets		Net	728 576	-7,1%	783 922	11,9%	700 345

Tangilble fixed assets

			31/12/2010		31/12/2009		31/12/2008
	Lands	Net	798 086	-0,1%	798 666	-0,1%	799 246
	Gross	AN	801 904	0%	801 904	0%	801 904
	Amortisation	AO	3 818	17,9%	3 238	21,8%	2 658
	Buildings	Net	3 261 636	-3,7%	3 386 786	-7,9%	3 676 857
	Gross	AP	14 018 069	3,3%	13 564 885	2,2%	13 269 707
	Amortisation	AQ	10 756 433	5,7%	10 178 099	6,1%	9 592 850
	Plant	Net	4 328 420	-7,7%	4 689 900	70,3%	2 754 506
	Gross	AR	18 782 606	-1,0%	18 981 544	13,3%	16 747 769
	Amortisation	AS	14 454 186	1,1%	14 291 644	2,1%	13 993 263
	Other tangible fixed assets	Net	212 739	50,3%	141 508	84,2%	76 839
	Gross	AT	854 778	18,1%	723 672	-16,8%	869 401
	Amortisation	AU	642 039	10,3%	582 164	-26,5%	792 562
	Fixed assets in construction	Net	21 890	53,5%	14 261	-95,3%	303 846
	Gross	AV	21 890	53,5%	14 261	-95,3%	303 846
	Amortisation	AW	0	0%	0	0%	0
	Advances and payments on account	Net	0	0%	25 295	-76,6%	108 000
	Gross	AX	0	0%	25 295	-76,6%	108 000
	Amortisation	AY	0	0%	0	0%	0
	Sub Total Tangible asset	Net	8 622 771		9 056 416		7 719 294

Financial assets

			31/12/2010		31/12/2009		31/12/2008
	Associates at equity	Net	0	0%	0	0%	0
	Gross	CS	0	0%	0	0%	0
	Amortisation	CT	0	0%	0	0%	0
	Other participations	Net	12 089 091	-1,5%	12 272 425	4,1%	11 789 441
	Gross	CU	12 121 014	-1,5%	12 304 348	4,3%	11 792 378
	Amortisation	CV	31 923	0%	31 923	986,9%	2 937
	Inter-company receivables	Net	0	0%	0	0%	6 176 352
	Gross	BB	0	0%	0	0%	6 176 352
	Amortisation	BC	0	0%	0	0%	0
	Other investment securities	Net	0	0%	17 310	0%	0
	Gross	BD	0	0%	17 310	0%	0
	Amortisation	BE	0	0%	0	0%	0
	Loans	Net	0	0%	0	0%	0
	Gross	BF	0	0%	0	0%	0
	Amortisation	BG	0		0		0
	Other financial assets	Net	14 907	0%	0	0%	17 420
	Gross	BH	14 907	0%	0	0%	17 420
	Amortisation	BI	0	0%	0	0%	0
	Sub Total Financial Assets		12 103 998		12 289 735		17 983 213

Current Assets (III)

			31/12/2010		31/12/2009		31/12/2008
	Total Assets	Net	137 505 143	18,3%	116 217 308	-1,9%	118 442 301
	Gross	CJ	140 271 723	18,3%	118 544 380	-1,4%	120 274 418
	Amortisation	CK	2 766 580	18,9%	2 327 072	27,0%	1 832 117

Stocks

			31/12/2010		31/12/2009		31/12/2008
	Raw materials	Net	4 586 898	-2,1%	4 687 445	-30,1%	6 710 068
	Gross	BL	4 765 361	-1,8%	4 852 658	-28,4%	6 774 539
	Amortisation	BM	178 463	8,0%	165 213	156,3%	64 471
	Work in progress (goods)	Net	1 148 305	35,2%	849 554	0%	0
	Gross	BN	1 148 305	35,2%	849 554	0%	0
	Amortisation	BO	0	0%	0	0%	0
	Work in progress (services)	Net	0	0%	0	0%	1 478 217
	Gross	BP	0	0%	0	0%	1 478 217
	Amortisation	BQ	0	0%	0	0%	0
	Semi-finished and finished products	Net	12 030 414	8,3%	11 110 178	-11,3%	12 521 783
	Gross	BR	12 615 500	8,1%	11 665 996	-10,7%	13 058 050
	Amortisation	BS	585 086	5,3%	555 818	3,6%	536 267
	Goods for resale	Net	190 842	20,3%	158 585	-15,0%	186 580
	Gross	BT	190 842	20,3%	158 585	-15,0%	186 580
	Amortisation	BU	0	0%	0	0%	0
	Sub Total Stocks	Net	17 956 459	6,8%	16 805 762	-19,6%	20 896 648

Advance payments to suppliers

			31/12/2010		31/12/2009		31/12/2008
	Advance payments to suppliers	Net	20 970	-85,4%	144 101	148,7%	57 945
	Gross	BV	20 970	-85,4%	144 101	148,7%	57 945
	Amortisation	BW	0	0%	0	0%	0

Debtors

			31/12/2010		31/12/2009		31/12/2008
	Trade accounts receivable	Net	35 489 431	7,8%	32 908 564	-18,6%	40 425 889
	Gross	BX	36 916 555	8,8%	33 938 698	-17,7%	41 222 474
	Amortisation	BY	1 427 124	38,5%	1 030 134	29,3%	796 585
	Other debtors	Net	24 695 352	1412,4%	1 632 898	15,8%	1 410 350
	Gross	BZ	25 271 259	1044,1%	2 208 805	19,7%	1 845 144
	Amortisation	CA	575 907	0%	575 907	32,5%	434 794
	Capital subscribed and called up	Net	0	0%	0	0%	0
	Gross	CB	0	0%	0	0%	0
	Amortisation	CC	0	0%	0	0%	0
	Sub Total Debtors	Net	60 184 783	74,2%	34 541 462	-17,4%	41 836 239

Divers

			31/12/2010		31/12/2009		31/12/2008
	Investment securities	Net	25 079 058	0%	0	0%	53 477 870
	Gross	CD	25 079 058	0%	0	0%	53 477 870
	Amortisation	CE	0	0%	0	0%	0
	Cash and cash equivalents	Net	33 886 062	-47,5%	64 541 177	3209,4%	1 950 242
	Gross	CF	33 886 062	-47,5%	64 541 177	3209,4%	1 950 242
	Amortisation	CG	0	0%	0	0%	0
	Sub Total Divers	Net	58 965 120	-8,6%	64 541 177	16,4%	55 428 112

Prepaid expenses

			31/12/2010		31/12/2009		31/12/2008
	Prepaid expenses	Net	377 811	104,4%	184 806	-17,3%	223 357
	Gross	CH	377 811	104,4%	184 806	-17,3%	223 357
	Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2010		31/12/2009		31/12/2008
Multi-period charges	CW3	0	0%	0	0%	0
Gross		0	0%	0	-	-
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		0	0%	0	-	-
Currency differential gain	CN3	163 843	-56,9%	380 310	104,8%	185 703
Gross		163 843	-56,9%	380 310	-	-

References

		31/12/2010		31/12/2009		31/12/2008
Due within one year	CP	0	0%	0	0%	0
Due after one year	CR	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

Accounts - Passive 
Other capital resources | Provisions for risks and charges | Liabilities | Translation loss | Equalization accounts | References 

Grand Total - Passive Accounts (I to IV)

		31/12/2010		31/12/2009		31/12/2008
Grand Total (I to V)	EE	159 124 331	14,7%	138 727 694	-4,3%	145 030 855

Shareholder Equity (I)

			31/12/2010		31/12/2009		31/12/2008
	Total shareholders' equity (Total I)	DL	117 968 500	12,5%	104 900 785	6,8%	98 219 253
	Equity and shareholders' equity	DA	15 851 323	0%	15 851 323	0%	15 851 323
	Issue and merger premiums	DB	37 275 213	0%	37 275 213	0%	37 275 213
	Revaluation differentials	DC	0	0%	0	0%	0
	Of which equity differential	EK	0	0%	0	0%	0
	Legal reserve	DD	1 585 132	0%	1 585 132	0%	1 585 132
	Statutory or contractual reserve	DE	0	0%	0	0%	0
	Special regulated reserves	DF	0	0%	0	0%	0
	Of which special reserve of provisions for current fluctuation	B1	0	0%	0	0%	0
	Other reserves	DG	4 696 376	0%	4 696 376	0%	4 696 376
	Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
	Profits or losses brought forward	DH	39 294 597	40,1%	28 040 536	13,0%	24 811 724
	Profit or loss for the period	DI	18 365 133	9,2%	16 817 049	24,1%	13 547 196
	Investment grants	DJ	106 714	-19,8%	133 043	-16,5%	159 373
	Special tax-allowable reserves	DK	794 012	58,1%	502 113	71,4%	292 916

Other capital resources (II)

			31/12/2010		31/12/2009		31/12/2008
	Total other capital resources (Total II)	DO	0	0%	0	0%	0
	Income from participating securities	DM	0	0%	0	0%	0
	Conditional loans	DN	0	0%	0	0%	0

Provisions for risks and charges (III)

			31/12/2010		31/12/2009		31/12/2008
	Total provisions for risks and charges (Total III)	DR	3 098 223	122,5%	1 392 270	16,5%	1 195 288
	Risk provisions	DP	3 098 223	122,5%	1 392 270	16,5%	1 195 288
	Reserves for charges	DQ	0	0%	0	0%	0

Liabilities (IV)

			31/12/2010		31/12/2009		31/12/2008
	Total Liabilities (Total IV)	EC	37 939 194	17,1%	32 410 718	-28,5%	45 324 060
	Convertible debentures	DS	0	0%	0	0%	0
	Other debentures	DT	0	0%	0	0%	0
	Bank loans and liabilities	DU	19 397	190,7%	6 673	-25,0%	8 897
	Sundry loans and financial liabilities	DV	3 009 439	18,9%	2 531 350	13,0%	2 239 472
	Of which participating loans	EI	0	0%	0	0%	0
	Advance payments received for current orders	DW	2 363 273	185,3%	828 285	-16,6%	993 392
	Trade accounts payables	DX	19 715 059	16,7%	16 896 944	-47,1%	31 911 197
	Tax and social security liabilities	DY	7 486 683	-3,4%	7 752 820	32,6%	5 846 746
	Fixed asset liabilities	DZ	556 113	-45,5%	1 020 379	28,0%	796 860
	Other debts	EA	4 737 724	41,3%	3 353 656	-3,6%	3 480 324

Translation loss (V)

		31/12/2010		31/12/2009		31/12/2008
Translation loss (Total V)	ED	118 414	395,0%	23 922	-91,8%	292 256

Equalization accounts

		31/12/2010		31/12/2009		31/12/2008
Deferred income	EB	51 506	149,9%	20 611	-56,3%	47 172

References

		31/12/2010		31/12/2009		31/12/2008
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	0	0%	0	0%	0
Of which current bank facilities	EH	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

Result account 
Sales of Goods | Operating charges | Operating charges | Financial income | Financial charges | Financial charges | Extraordinary charges | Employee profit sharing | Tax on profits | References 

1- Operating result (I-II)

		31/12/2010		31/12/2009		31/12/2008
Operating result (Total I-II)	GG	19 998 878	-1,0%	20 206 760	41,1%	14 322 126

2 - Financial result (V - VI)

		31/12/2010		31/12/2009		31/12/2008
Financial result (Total V-VI)	GV	5 075 509	68,4%	3 013 117	-38,0%	4 857 755

3 - Pre-tax net operating income result (I - VI)

		31/12/2010		31/12/2009		31/12/2008
Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	25 074 387	8,0%	23 219 877	21,1%	19 179 881

4 - Extraordinary result (VII-VIII)

		31/12/2010		31/12/2009		31/12/2008
Extraordinary result (Total VII-VIII)	HI	51 878	-96,0%	1 312 386	558,5%	-286 216

Profit or loss

		31/12/2010		31/12/2009		31/12/2008
Profit or loss	HN	18 365 133	9,2%	16 817 050	24,1%	13 547 199

Total Income (I+III+V+VII)

		31/12/2010		31/12/2009		31/12/2008
Total Income (I+III+V+VII)	HL	118 993 618	-6,8%	127 622 867	-0,9%	128 782 747

Total charges (Total II+IV+VI+VIII+IX+X)

		31/12/2010		31/12/2009		31/12/2008
Total charges (Total II+IV+VI+VIII+IX+X)	HM	100 628 485	-9,2%	110 805 817	-3,8%	115 235 548

Operating income (I)

		31/12/2010		31/12/2009		31/12/2008
Total operating income (Total I)	FR	113 253 655	-7,6%	122 554 056	-0,5%	123 159 908

Operating income (details)

			31/12/2010		31/12/2009		31/12/2008
	Sale of goods for resale	FC	0	0%	0	0%	0
	France	FA	0	0%	0	0%	0
	Export	FB	0	0%	0	0%	0
	Sale of goods produced	FF	110 185 138	-10,3%	122 873 567	0%	0
	France	FD	45 129 147	-17,1%	54 405 352	0%	0
	Export	FE	65 055 991	-5,0%	68 468 215	0%	0
	Sale of services	FI	0	0%	0	0%	0
	France	FG	0	0%	0	0%	0
	Export	FH	0	0%	0	0%	0
	Net turnover	FL	110 185 138	-10,3%	122 873 567	2,6%	119 709 484
	France	FJ	45 129 147	-17,1%	54 405 352	8,5%	50 125 654
	Export	FK	65 055 991	-5,0%	68 468 215	-1,6%	69 583 830
	Stocked production	FM	1 163 209	157,6%	-2 020 448	-180,5%	2 510 244
	Self-constructed assets	FN	0	0%	0	0%	1 399
	Operating grants	FO	16 344	-85,2%	110 608	0%	0
	Release of reserves and provisions	FP	959 850	-14,2%	1 118 634	107,2%	539 903
	Other income	FQ	929 114	97,0%	471 695	18,3%	398 878

Operating charges (II)

		31/12/2010		31/12/2009		31/12/2008
Total operating charges (Total II)	GF	93 254 777	-8,9%	102 347 296	-6,0%	108 837 782

Exploitation charges

		31/12/2010		31/12/2009		31/12/2008
Purchase of goods for resale	FS	0	0%	0	0%	0
Change in stocks of goods for resale	FT	0	0%	0	0%	0
Purchase of raw materials	FU	58 306 854	-8,6%	63 800 803	-15,3%	75 326 018
Change in stocks of raw materials	FV	59 622	-96,9%	1 949 374	195,3%	-2 045 127
Other external purchases and charges	FW	11 161 278	-10,3%	12 441 519	-1,6%	12 641 410
Tax, duty and similar payments	FX	1 896 792	-13,0%	2 180 676	-5,9%	2 317 324
Payroll	FY	13 189 463	-1,5%	13 391 222	9,2%	12 259 537
Social security costs	FZ	5 641 026	3,5%	5 451 993	5,8%	5 152 499

Depreciation

		31/12/2010		31/12/2009		31/12/2008
Depreciation of fixed assets	GA	1 793 496	10,6%	1 622 334	-5,1%	1 708 693
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	311 628	-61,5%	809 213	-2,9%	833 326
Provisions for risks and charges	GD	347 366	14,7%	302 873	-5,3%	319 888

Other charges

		31/12/2010		31/12/2009		31/12/2008
Other charges	GE	547 252	37,7%	397 289	22,5%	324 214

Operating charges (III-IV)

		31/12/2010		31/12/2009		31/12/2008
Share of joint-venture transferred to other partner(s) (Total III)	GH	0	0%	0	0%	0
Share of joint venture transferred from other partner(s) (Total IV)	GI	0	0%	0	0%	0

Financial income (V)

			31/12/2010		31/12/2009		31/12/2008
	Total financial income (Total V)	GP	5 688 085	51,4%	3 756 425	-33,2%	5 622 839
	Share financial income	GJ	3 878 398	48,0%	2 619 828	-0,1%	2 622 403
	Other investment income & capitalised receivables	GK	0	0%	0	0%	0
	Other interest and similar income	GL	1 809 687	59,2%	1 136 597	-62,1%	3 000 436
	Released provisions and transferred charges	GM	0	0%	0	0%	0
	Exchange gains	GN	0	0%	0	0%	0
	Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

			31/12/2010		31/12/2009		31/12/2008
	Total financial charge (Total VI)	GU	612 576	-17,6%	743 308	-2,8%	765 084
	Financial reserves and provisions	GQ	0	0%	0	0%	0
	Interest and similar charges	GR	612 576	-17,6%	743 308	-2,8%	765 084
	Exchange losses	GS	0	0%	0	0%	0
	Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income (VII)

			31/12/2010		31/12/2009		31/12/2008
	Total extraordinary income (Total VII)	HD	51 878	-96,0%	1 312 386	0%	0
	Extraordinary operating income	HA	0	0%	1 312 386	0%	0
	Extraordinary income from capital transactions	HB	51 878	0%	0	0%	0
	Released provisions and transferred charges	HC	0	0%	0	0%	0

Extraordinary charges (VIII)

			31/12/2010		31/12/2009		31/12/2008
	Total extraordinary charges (Total VIII)	HH	0	0%	0	0%	286 216
	Extraordinary operating charges	HE	0	0%	0	0%	286 216
	Extraordinary charges from capital transactions	HF	0	0%	0	0%	0
	Extraordinary reserves and provisions	HG	0	0%	0	0%	0

Employee profit sharing (IX)

		31/12/2010		31/12/2009		31/12/2008
Employee profit sharing (Total IX)	HJ	958 697	-20,7%	1 209 564	54,4%	783 319

Tax on profits (X)

		31/12/2010		31/12/2009		31/12/2008
Tax on profits (Total X)	HK	5 802 435	-10,8%	6 505 649	42,6%	4 563 147

References

		31/12/2010		31/12/2009		31/12/2008
Of which equipment leases	HP	0	0%	0	0%	0
Of which property leases	HQ	0	0%	0	0%	0
Of which transferred charges	A1	0	0%	0	0%	0
Of which trader's own contributions	A2	0	0%	0	0%	0
Of which royalties on licences and patents (income)	A3	0	0%	0	0%	0
Of which royalties on licences and patents (charges)	A4	0	0%	0	0%	0

Display parameter
Currency	Euro	Kilo Euro

Other incomes tax return forms 
Reserve for depreciation | Provisions included in balance sheet | State deadlines claims and debts at the end of period
Table allocation results and other information 

Fixed Assets
Grand Total Fixed Assets (I to IV)

			31/12/2010		31/12/2009		31/12/2008
	Gross value at begin of period	OG	0	0%	0	0%	66 362 000
	Increasess due to revaluation	OH	0	0%	0	0%	0
	Decreasess, acquisitions, creations, contributions	OJ	0	0%	0	0%	2 555 000
	Decreasess by budget item transfer	OK1	40 000	-90,3%	412 000	-10,0%	458 000
	Decreasess by transfers	OK2	1 265 000	-82,6%	7 281 000	-41,9%	12 541 000
	Gross value at the end of period	OL	52 569 000	0,4%	52 367 000	-6,4%	55 918 000

Research and development Charge (Total I)

			31/12/2010		31/12/2009		31/12/2008
	Gross value at begin of period	CZ	0	0%	0	0%	0
	Increasess due to revaluation	KB	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KC	0	0%	0	0%	0
	Decreasess by budget item transfer	C01	0	0%	0	0%	0
	Decreasess by transfers	C02	0	0%	0	0%	0
	Gross value at the end of period	D0	0	0%	0	0%	0

Other budget item from Intangible fixed assets (Total II)

			31/12/2010		31/12/2009		31/12/2008
	Gross value at begin of period	KD	5 934 000	1,7%	5 832 000	0,1%	5 829 000
	Increasess due to revaluation	KE	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	KF	20 000	-86,0%	143 000	98,6%	72 000
	Decreasess by budget item transfer	LV1	0	0%	0	0%	0
	Decreasess by transfers	LV2	0	0%	41 000	-40,6%	69 000
	Gross value at the end of period	LW	5 954 000	0,3%	5 934 000	1,7%	5 832 000

Tangible fixed assets (Total III)

			31/12/2010		31/12/2009		31/12/2008
	Gross value at begin of period	LN	34 113 000	6,3%	32 101 000	-2,7%	32 985 000
	Increasess due to revaluation	LO	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LP	1 360 000	-58,9%	3 311 000	86,7%	1 773 000
	Decreasess by budget item transfer	NG1	40 000	-90,3%	412 000	-10,0%	458 000
	Decreasess by transfers	NG2	952 000	7,2%	888 000	-59,6%	2 200 000
	Gross value at the end of period	NH	34 481 000	1,1%	34 112 000	6,3%	32 101 000

Fiancial assets (Total IV)

			31/12/2010		31/12/2009		31/12/2008
	Gross value at begin of period	LQ	12 321 000	-31,5%	17 986 000	-34,7%	27 548 000
	Increasess due to revaluation	LR	0	0%	0	0%	0
	Increasess, acquisitions, creations, contributions	LS	128 000	-81,4%	687 000	-3,2%	710 000
	Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
	Decreasess by transfers	NJ2	313 000	-95,1%	6 352 000	-38,2%	10 272 000
	Gross value at the end of period	NK	12 136 000	-1,5%	12 321 000	-31,5%	17 986 000

Reserve for depreciation
Situation and movement of reserve for depreciation
Grand total (I-II-III)

			31/12/2010		31/12/2009		31/12/2008
	Reserve for depreciation value at begin of period	0N	0	0%	0	0%	25 234 000
Increases		0P	0	0%	0	0%	1 709 000
Decreasess		0Q	0	0%	0	0%	2 155 000
	Reserve for depreciation value at the end of period	0R	0	0%	0	0%	24 788 000

Research and development charge (Total I)

			31/12/2010		31/12/2009		31/12/2008
	Reserve for depreciation value at begin of period	CY	0	0%	0	0%	0
Increases		PB	0	0%	0	0%	0
Decreasess		PC	0	0%	0	0%	0
	Decreasess by budget item transfer	PD	0	0%	0	0%	0

Other intangible assets (Total II)

			31/12/2010		31/12/2009		31/12/2008
	Reserve for depreciation value at begin of period	PE	424 000	4,7%	405 000	-4,9%	426 000
Increases		PF	76 000	28,8%	59 000	20,4%	49 000
Decreasess		PG	0	0%	41 000	-40,6%	69 000
	Decreasess by budget item transfer	PH	500 000	18,2%	423 000	4,4%	405 000

Total fixed assets amotisation (Total III)

			31/12/2010		31/12/2009		31/12/2008
	Reserve for depreciation value at begin of period	QU	25 055 000	2,8%	24 382 000	-1,7%	24 808 000
Increases		QV	1 752 000	12,1%	1 563 000	-5,8%	1 660 000
Decreases		QW	950 000	6,9%	889 000	-57,4%	2 086 000
	Decreasess by budget item transfer	QX	25 857 000	3,2%	25 055 000	2,8%	24 381 000

Movements during period affecting charge allocated over several period 

Charges à répartir ou frais d'émission d'emprunt

			31/12/2010		31/12/2009		31/12/2008
	Gross value at begin of period	Z91	0	0%	0	0%	0
Increases		Z92	0	0%	0	0%	0
Depreciation of fixed assets during period		Z9	0	0%	0	0%	0
	Decreasess by budget item transfer	B1	0	0%	0	0%	0

Premium refund of obligations

			31/12/2010		31/12/2009		31/12/2008
	Net value at begining of period	SP1	0	0%	0	0%	0
Increases		SP2	0	0%	0	0%	0
Depreciation of fixed assets during period		SP	0	0%	0	0%	0
	Net value at the end of period	SR	0	0%	0	0%	0

Provisions included in balance sheet
Grand Total (I-II-III)

			31/12/2010		31/12/2009		31/12/2008
	Value at begining of period	7C	8 979 000	11,6%	8 049 000	8,8%	7 399 000
Increases		UB	3 592 000	105,3%	1 750 000	16,8%	1 498 000
Decreases		UC	1 156 000	41,0%	820 000	-3,3%	848 000
	Value at the end of period	UD	11 415 000	27,1%	8 979 000	11,6%	8 049 000

Includes Total allocations

Operating	UE	3 094 000	178,2%	1 112 000	-3,6%	1 153 000
Financial	UG	164 000	-59,9%	409 000	119,9%	186 000
Exceptional	UJ	334 000	45,9%	229 000	44,0%	159 000

Includes Total Withdrawal

Operating	UF	734 000	19,3%	615 000	17,4%	524 000
Financial	UH	380 000	104,3%	186 000	-41,1%	316 000
Exceptional	UK	42 000	121,1%	19 000	137,5%	8 000

Total regulated provisions (Total I)

			31/12/2010		31/12/2009		31/12/2008
	Value at begining of period	3Z	502 000	71,3%	293 000	106,3%	142 000
Increases		TS	334 000	45,9%	229 000	44,0%	159 000
Decreases		TT	42 000	121,1%	19 000	137,5%	8 000
	Value at the end of period	TU	794 000	57,9%	503 000	71,7%	293 000

Total risk and charge provisions (Total II)

			31/12/2010		31/12/2009		31/12/2008
	Value at begining of period	5Z	1 392 000	16,4%	1 196 000	-8,9%	1 313 000
Increases		TV	2 567 000	275,8%	683 000	35,0%	506 000
Decreases		TW	861 000	77,2%	486 000	-22,0%	623 000
	Value at the end of period	TX	3 098 000	122,4%	1 393 000	16,6%	1 195 000

Total Provision for depreciation (Total III)

			31/12/2010		31/12/2009		31/12/2008
	Value at begining of period	7B	7 085 000	8,0%	6 562 000	10,4%	5 945 000
Increases		TY	691 000	-17,5%	838 000	0,6%	833 000
Decreases		TZ	253 000	-19,4%	314 000	44,7%	217 000
	Value at the end of period	UA	7 523 000	6,2%	7 086 000	8,0%	6 561 000

State deadlines claims and debts at the end of period
State claims

		31/12/2010		31/12/2009		31/12/2008
Gross value	VT	62 581 000	72,2%	36 350 000	-26,5%	49 485 000
1 year at most	VU	62 376 000	72,5%	36 167 000	-26,9%	49 485 000
More than one year	VV	205 000	12,0%	183 000	0%	0

State of loans

		31/12/2010		31/12/2009		31/12/2008
Claims related to holdings (gross)	UL	0	0%	0	0%	6 176 000
Claims related to shareholdings (1 year at most)	UM	0	0%	0	0%	6 176 000
Loans (gross)	UP	0	0%	0	0%	0
Loans (1 year at most)	UR	0	0%	0	0%	0
Other financial assets (gross)	UT	15 000	-11,8%	17 000	0%	17 000
Other financial assets (1 year at most)	UV	0	0%	0	0%	17 000

Receivables statement of assets

		31/12/2010		31/12/2009		31/12/2008
Customers doubtful or disputed	VA	0	0%	0	0%	0
Other claims customer	UX	36 917 000	8,8%	33 939 000	-17,7%	41 222 000
Receivables represent Loaned Securities	UU	0	0%	0	0%	0
Provision for depreciation previously established	UQ	0	0%	0	0%	0
Personnel and associated accounts	UY	0	0%	0	0%	0
Social Security and other social organizations	UZ	0	0%	0	0%	0
Income taxes	VM	0	0%	0	0%	0
Value added tax	VB	0	0%	0	0%	0
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	0	0%	0	0%	0
Group and Associates	VC	0	0%	0	0%	0
Accounts receivable (including claims relating to the operation of pension titles)	VR	25 271 000	1044,0%	2 209 000	0%	0

Prepaid

		31/12/2010		31/12/2009		31/12/2008
Prepaid	VS	378 000	104,3%	185 000	-17,0%	223 000

State Debt

			31/12/2010		31/12/2009		31/12/2008
	Total debt (gross)	VY	35 523 000	12,5%	31 582 000	-28,8%	44 331 000
1 year at most		VZ2	31 823 000	13,5%	28 037 000	-33,6%	42 207 000
More than 1 year and 5 years at most		VZ3	3 700 000	4,4%	3 545 000	67,0%	2 123 000
More than 5 years		VZ4	0	0%	0	0%	0

Details

			31/12/2010		31/12/2009		31/12/2008
	Convertible bonds (gross)	7Y1	0	0%	0	0%	0
1 year at most		7Y2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Y3	0	0%	0	0%	0
	Other bonds (gross)	7Z1	0	0%	0	0%	0
1 year at most		7Z2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Z3	0	0%	0	0%	0
	Borrowing & debts to 1 year maximum at the origin (gross)	VG1	19 000	171,4%	7 000	-22,2%	9 000
1 year at most		VG2	17 000	466,7%	3 000	50,0%	2 000
More than 1 year and 5 years at most		VG3	2 000	-50,0%	4 000	-42,9%	7 000
	Borrowing & debts to more than 1 year at the origin (gross)	VH1	0	0%	0	0%	0
1 year at most		VH2	0	0%	0	0%	0
More than 1 year and 5 years at most		VH3	0	0%	0	0%	0
	Loans and various financial liabilities (gross)	8A1	3 009 000	18,9%	2 531 000	13,0%	2 239 000
1 year at most		8A2	269 000	34,5%	200 000	62,6%	123 000
More than 1 year and 5 years at most		8A3	2 740 000	17,5%	2 331 000	10,1%	2 117 000
	Suppliers and associated accounts (gross)	8B1	19 715 000	16,7%	16 897 000	-47,0%	31 911 000
1 year at most		8B2	19 715 000	16,7%	16 897 000	-47,0%	31 911 000
More than 1 year and 5 years at most		8B3	19 715 000	16,7%	16 897 000	0%	0
	Personnel and associated accounts (gross)	8C1	0	0%	0	0%	0
1 year at most		8C2	0	0%	0	0%	0
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	7 480 000	-3,5%	7 753 000	32,6%	5 847 000
1 year at most		8D2	6 521 000	-0,3%	6 543 000	11,9%	5 847 000
More than 1 year and 5 years at most		8D3	959 000	-20,7%	1 210 000	0%	0
	Taxes on profits (gross)	8E1	0	0%	0	0%	0
1 year at most		8E2	0	0%	0	0%	0
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	0	0%	0	0%	0
1 year at most		VW2	0	0%	0	0%	0
More than 1 year and 5 years at most		VW3	0	0%	0	0%	0
	Backed Obligations (gross)	VX1	0	0%	0	0%	0
1 year at most		VX2	0	0%	0	0%	0
More than 1 year and 5 years at most		VX3	0	0%	0	0%	0
	Other taxes and assimilated (gross)	VQ1	0	0%	0	0%	0
1 year at most		VQ2	0	0%	0	0%	0
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	556 000	-45,5%	1 020 000	28,0%	797 000
1 year at most		8J2	556 000	-45,5%	1 020 000	28,0%	797 000
More than 1 year and 5 years at most		8J3	0	0%	0	0%	0
More than 5 years		8J4	0	0%	0	0%	0
	Groups and associates (gross)	VI1	7 000	0%	0	0%	0
1 year at most		VI2	7 000	0%	0	0%	0
More than 1 year and 5 years at most		VI3	0	0%	0	0%	0
More 5 years		VI4	0	0%	0	0%	0
	Other liabilities (gross)	8K1	4 738 000	40,4%	3 374 000	-4,3%	3 527 000
1 year at most		8K2	4 738 000	40,4%	3 374 000	-4,3%	3 527 000
More than 1 year and 5 years at most		8K3	0	0%	0	0%	0
	Debt representative of borrowed securities (gross)	SZ1	0	0%	0	0%	0
1 year at most		SZ2	0	0%	0	0%	0
More than 1 year and 5 years at most		SZ3	0	0%	0	0%	0
	Products in advance (gross)	8L1	0	0%	0	0%	0
1 year at most		8L2	0	0%	0	0%	0
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		31/12/2010		31/12/2009		31/12/2008
Loans made during the period	VJ	0	0%	0	0%	0
Debt repaid during the period	VK	2 000	0%	2 000	0%	0

Table allocation results and other information 
Dividends distributed

		31/12/2010		31/12/2009		31/12/2008
Dividends	ZE	0	0%	0	0%	0

Commitments

		31/12/2010		31/12/2009		31/12/2008
Commitments leasing furniture	YQ	0	0%	0	0%	0
Commitments Real Estate Leasing	YR	0	0%	0	0%	0
Effects brought to the discount and unmatured	YS	0	0%	0	0%	0

Other charges Externes

		31/12/2010		31/12/2009		31/12/2008
Subcontracting	YT	0	0%	0	0%	0
Rentals, rental charges and condominiums	XQ	0	0%	0	0%	0
Staff outside the company	YU	0	0%	0	0%	0
Remuneration intermediaries and fees (excluding fees)	SS	0	0%	0	0%	0
Fees, commissions and brokerage	YV	0	0%	0	0%	0
Other accounts	ST	0	0%	0	0%	0
Total Other purchases and external	ZJ	0	0%	0	0%	0

Taxes and Fees

		31/12/2010		31/12/2009		31/12/2008
Business tax	YW	0	0%	0	0%	0
Other taxes and payments assimilated	9Z	0	0%	0	0%	0
Total taxes and fees	YX	0	0%	0	0%	0

VAT

		31/12/2010		31/12/2009		31/12/2008
Amount VAT collected	YY	0	0%	0	0%	0
Total VAT on goods and services	YZ	0	0%	0	0%	0

Average number of employees

		31/12/2010		31/12/2009		31/12/2008
Average number of employees	YP	0	0%	0	0%	0

Groups and Shareholders

		31/12/2010		31/12/2009		31/12/2008
Groups and Shareholders	ZR	0	-	0	-	-

Display parameter
Comparison mode	Average	Median

Ratios 
Structure and liquidity | Management or rotation | Profitability of the business | Return on capital 

Structure and Liquidity

		31/12/2010		31/12/2009		31/12/2008	Sector Median2010
Fixed Asset Financing		2,95	10,9%	2,66	13,2%	2,35	1,78	65,7%
Global Debt		124 days	30,5%	95 days	-30,1%	136 days	107 days	15,9%
Working Capital Fund overall net		335 days	31,9%	254 days	12,4%	226 days	99 days	238,4%
Financial independence		608179,10%	-61,3%	1572018,36%	42,4%	1103959,23%	734,05%	82752,5%
More ratios
Solvability		74,14%	-2,0%	75,62%	11,7%	67,72%	48,40%	53,2%
Capacity debt futures		561754,76%	-41,1%	953643,50%	55,3%	613870,33%	1651,26%	33919,8%
Coverage of current assets by net working capital overall		62,22%	-15,1%	73,25%	68,9%	43,37%	49,97%	24,5%
General Liquidity		1,96	51,9%	1,29	10,3%	1,17	0,88	122,7%
Restricted Liquidity		3,81	6,1%	3,59	44,2%	2,49	1,32	188,6%

Management or rotation

		31/12/2010		31/12/2009		31/12/2008	Sector Median2010
Need background in operating working capital		141 days	123,8%	63 days	6,8%	59 days	60 days	135,0%
Treasury		193 days	2,1%	189 days	13,2%	167 days	23 days	739,1%
Inventory turnover of goods		days	-	days	-	days	45,50 days	-
Average length of credit granted to customers		121 days	22,2%	99 days	-20,2%	124 days	71,50 days	69,2%
Average length of credit obtained suppliers		102 days	30,8%	78 days	-41,8%	134 days	70 days	45,7%
More ratios
Inventory turnover of raw materials in industrial enterprises		29 days	7,4%	27 days	-15,6%	32 days	75 days	-61,3%
Inventory turnover of intermediate and finished products in the industrial enterprise		320 days	-11,1%	360 days	-	days	376,50 days	-15,0%
Rotation tangible assets		319,55%	-11,3%	360,21%	-3,4%	372,92%	383,01%	-16,6%

Profitability of the business

		31/12/2010		31/12/2009		31/12/2008	Sector Median2010
Margin trading		0%	0%	0%	0%	0	0,03%	0%
Profitability of the business		19,16	8,2%	17,70	27,9%	13,84	4,65%	312,0%
Net profit		16,67%	21,8%	13,69%	20,9%	11,32%	1,87%	791,4%
More ratios
Growth rate of turnover (excluding VAT)		-10,33%	-491,3%	2,64%	-80,2%	13,35%	5,74%	-280,0%
Rates integration		37,95%	9,3%	34,72%	14,5%	30,32%	30,42%	24,8%
Rate leasing furniture		0%	0%	0%	0%	0%	0%	0%
Work Factor		45,03%	1,9%	44,17%	-7,9%	47,97%	79,08%	-43,1%
Weight interests		0,56	-6,7%	0,60%	-6,2%	0,64%	0,34%	64,7%

Return on capital

		31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Cash flow from the overall profitability		17,20%	19,9%	14,34%	19,1%	12,04%	3,61%	376,5%
Rates of economic profitability		17%	-15,0%	20%	25,0%	16%	12%	41,7%
Financial profitability		117968500%	12,5%	104900785%	6,8%	98219253%	767641%	15267,7%
Return on investment		15,68%	-4,0%	16,34%	14,7%	14,25%	7%	124,0%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion 

	31/12/2010		31/12/2009		31/12/2008	Sector Median 2010
Turnover	110 185 138	-10,3%	122 873 567	2,6%	119 709 484	2 752 427 €	3903,2%

Sales of goods	0	0%	0	0%	0
- Purchase of goods	0	0%	0	0%	0
+/- Stock of goods variation	0	0%	0	0%	0
Trading margin	0 €	0%	0 €	0%	0 €	125 €	0%
	0,00 % CA	0%	0,00 % CA	0%	0,00 % CA	0,19 % CA	0%

Sale of goods produced	110 185 138	-10,3%	122 873 567	0%	0
+/- Stocked production	1 163 209	157,6%	-2 020 448	-180,5%	2 510 244
+ Self-constructed assets	0	0%	0	0%	1 399
Period production	111 348 347 €	-7,9%	120 853 119 €	4711,7%	2 511 643 €	1 899 494 €	5762,0%
	101,06 % CA	2,7%	98,36 % CA	4583,8%	2,10 % CA	97,57 % CA	3,6%

Trading margin	0	0%	0	0%	0	125	0%
+ Period Production	111 348 347	-7,9%	120 853 119	4711,7%	2 511 643	1 899 494	5762,0%
- Purchase of raw materials	58 306 854	-8,6%	63 800 803	-15,3%	75 326 018
+/- Change in stocks of raw materiels	59 622	-96,9%	1 949 374	195,3%	-2 045 127
- Other external purchases and charges	11 161 278	-10,3%	12 441 519	-1,6%	12 641 410
Added value	41 820 593 €	-2,0%	42 661 423 €	151,1%	-83 410 658 €	758 094 €	5416,5%
	37,95 % CA	9,3%	34,72 % CA	149,8%	-69,68 % CA	30,42 % CA	24,8%

Added value	41 820 593 €	-2,0%	42 661 423 €	151,1%	-83 410 658 €	758 094 €	5416,5%
+ Operating grants	16 344	-85,2%	110 608	0%	0
- Tax, duty and similar payments	1 896 792	-13,0%	2 180 676	-5,9%	2 317 324
- Personal charges	18 830 489	-0,1%	18 843 215	8,2%	17 412 036
Gross operating surplus	21 109 656 €	-2,9%	21 748 140 €	121,1%	-103 140 018 €	78 662 €	26735,9%
	19,16 % CA	8,2%	17,70 % CA	120,5%	-86,16 % CA	4,65 % CA	312,0%

Gross operating surplus	21 109 656 €	-2,9%	21 748 140 €	121,1%	-103 140 018 €	78 662 €	26735,9%
+ Release of reserves and provisions	959 850	-14,2%	1 118 634	107,2%	539 903
+ Other operating income	929 114	97,0%	471 695	18,3%	398 878
- Depreciation/Amortisation	2 452 490	-10,3%	2 734 420	-4,5%	2 861 907
- Other charges	547 252	37,7%	397 289	22,5%	324 214
Operating result	19 998 878 €	-1,0%	20 206 760 €	119,2%	-105 387 358 €	42 961 €	46451,2%
	18,15 % CA	10,3%	16,45 % CA	118,7%	-88,04 % CA	2,73 % CA	564,8%

Operating result	19 998 878 €	-1,0%	20 206 760 €	119,2%	-105 387 358 €	42 961 €	46451,2%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	5 688 085	51,4%	3 756 425	-33,2%	5 622 839
- Financial charges	612 576	-17,6%	743 308	-2,8%	765 084
Pre-tax result	25 074 387 €	8,0%	23 219 877 €	123,1%	-100 529 603 €	33 875 €	73920,3%
	22,76 % CA	20,4%	18,90 % CA	122,5%	-83,98 % CA	2,32 % CA	881,0%

Extraordinary income	51 878	-96,0%	1 312 386	0%	0	8 778	491,0%
- Extraordinary charges	0	0%	0	0%	286 216
Extraordinary result	51 878 €	-96,0%	1 312 386 €	558,5%	-286 216 €	93 €	55682,8%
	0,05 % CA	-95,3%	1,07 % CA	545,8%	0 % CA	0,01 % CA	400%

Pre-tax result	25 074 387 €	8,0%	23 219 877 €	123,1%	-100 529 603 €	33 875 €	73920,3%
Extraordinary result	51 878 €	-96,0%	1 312 386 €	558,5%	-286 216 €	93 €	55682,8%
- Employee profit sharing	958 697	-20,7%	1 209 564	54,4%	783 319
- Tax on profits	5 802 435	-10,8%	6 505 649	42,6%	4 563 147
Net result	18 365 133 €	9,2%	16 817 050 €	115,8%	-106 162 285 €	32 847 €	55811,1%
	16,67 % CA	21,8%	13,69 % CA	115,4%	-88,68 % CA	1,87 % CA	791,4%

Commentary

The comments are ordered according to the class of risk. Companies are compared with regard to other companies of the same type. Thus a positive comment for one category can be negative for another or can change depending on its value. This is a purely statistical decision.

The shareholder's equity is 117,968,500 €

The ratio total assets to total liabilities is 3,88

The liabilities are 37,939,194 €

The net current assets are 137,505,143 €

The net turnover is 110,185,138 €

The pre-tax profit is 24,167,568 €

The risk provisions are 3,098,223 €

The total assets are 159,124,331 €

Low risk workforce size

The company has 4 directors

Industry code with low risk rating

Department code with medium risk rating

The creditor days are 65.31

The return on total assets employed is 15.19

The sales to current assets ratio is 0,8

The stock to turnover ratio is 16.30

The increase in the gearing percentage over the last two accounting periods is 39 %

The latest account data is more than 3 years old, this has an impact on the rating.

judgements

Collective procedures

No judgment information for the company

 Social security, pension funds preferential rights | Tax office preferential rights

Preferential rights details and history

Summary of preferential rights

Company monitored since	29/04/2008
Status of Monitoring	No social security and tax office preferential right to date

Social security, pension funds preferential rights

Number of preferential rights	0
Total amount	-
Due remaining amount	-
Date of last preferential right	-

Historical Data

Registration number

Registration date

Date of the planned end

Creditor

Amount of the debt

Due remaining amount

108218

30/05/2011

24/01/2012

IRICASA

4 106 EUR

-

Reason for closure	Crossed Off
Court	Valenciennes
Creditor	IRICASA
Debtor	RAILTECH INTERNATIONAL  R DU BAS PRE ZONE INDUSTRIELLE 59590 STRIELLE, RAISMES

148165

30/05/2011

30/11/2013

IRICASA

4 106 EUR

-

Reason for closure	Void
Court	Valenciennes
Creditor	IRICASA  6 RUE EMILE REYNAUD 75926 PARIS, PARIS 19
Debtor	RAILTECH INTERNATIONAL  ZONE INDUSTRIELLE RUE DU BAS PRE 59590 RAISMES, RAISMES
Pledges
Title of the act and date	bordereau inscription sécurité sociale en date du 20110527
Choice of residence for the oppositions	IRICASA6 RUE EMILE REYNAUD75926 PARIS 19

Group data

Ultimate parent company	ANDE INVESTISSEMENT SA
Direct parent	H. R. T. - 99.86 %
Group – Number of companies	109
Linkages – Number of companies	9
Number of countries	7

Group Structure

Go directly to the current company

Display only where participation % > 33 %

Display all participations

Company Name	SIREN	Parts	Last account published
ANDE INVESTISSEMENT SA	-	-	-
SODELHO SA	393205901	54.40%	07/09/2011
DELACHAUX SA	562036574	99.06%	31/12/2010
CONDUCTIX-WAMPFLER WUHAN LTD	-	100%	-
CONDUCTIX-WAMPFLER GMBH	HRB 708108	100%	31/12/2011
CONDUCTIX-WAMPFLER INC	-	100%	-
CONDUCTIX-WAMPFLER LTDA	-	100%	-
CONDUCTIX-WAMPFLER B.V.	34057938	100%	31/12/2013
CONDUCTIX-WAMPFLER AG	319972	100%	-
WAMPFLER SCA PTY LTD	-	100%	-
CONDUCTIX-WAMPFLER LTDA	-	100%	-
CONDUCTIX-WAMPFLER OOO	-	100%	-
CONDUCTIX-WAMPFLER SDN.BHD	-	100%	-
CONDUCTIX-WAMPFLER AB	5564794831	100%	31/12/2012
DELACHAUX CABLE MACHINERY	-	Majority	-
CONDUCTIX- WAMPFLER S.R.L.	MI1166385	100%	31/12/2012
ETABLISSEMENTS RAOUL LENOIR	383080066	100%	31/12/2010
MEC DELACHAUX S.R.L.	BS216828	100%	31/12/2012
H.R.T.	450327291	100%	31/12/2010
RAILTECH INTERNATIONAL	389670142	99.86%	31/12/2010
RAILTECH-ALU-SINGEN	445171457	51%	-
RAILTECH (UK) LIMITED	02767803	100%	31/12/2012
RAILTECH CONTRACTING CORP	US10421780	100%	-
MATWELD	US10505435	100%	-
RAILTECH SLAVJANA SRO	-	100%	-
RAILTECH - PANDROL ITALIA SR...	TE115535	100%	31/12/2012
RAILWELD	063802938	100%	31/12/2010
PORSOL LDA	-	60%	-
RAILTECH SUFETRA-TRANOSA SA	-	100%	-
LES INDUSTRIE RAILWEL INC.	-	100%	-
RAILTECH CALOMEX SRL	-	99.70%	-
RAILTECH BOUTET INC	US10828056	100%	-
RAILTECH AUSTRALIA LTD	-	100%	-
RAILTECH CHINA LTD	-	100%	-
C.S.A. S.R.L.	RE238294	51%	31/12/2011
STEDEF THAILANDE LTD	-	100%	-
RAILTECH VOLGA O.O.O	-	100%	-
RAILTECH ZHUQIAO LTD	-	85%	-
RAILTECH MAROC SARL	-	100%	-
RAILTECH ALGÉRIE SARL	-	65%	-
RAILTECH DEUTSCHLAND GMBH	HRB 703854	100%	31/12/2011
ROLF PLÖTZ GMBH & CO. KG	HRA 4244	100%	31/12/2012
PLÖTZ BETEILIGUNGSGESELLSC...	HRB 8272	100%	31/12/2011
FLORIANER BAHN SERVICE GMBH	-	100%	-
ROLF PLÖTZ INTERNATIONAL G...	HRB 8625	100%	31/12/2011
ROLF PLÖTZ PLOSKA SP ZOO	-	100%	-
ROLF PLÖTZ MEXICO SA	-	100%	-
ROLF PLÖTZ MEXICO SERVICE SA	-	100%	-
ROLF PLÖTZ IPARI KFT	-	99.45%	-
ROLF PLÖTZ BRASIL CORNECIO DE MATERIALS ...	-	87.50%	-
H.R.T. UK	-	100%	-
UPPER 388 LIMITED	04578452	100%	31/12/2012
UPPER 390 LIMITED	04578632	100%	31/12/2012
PANDROL	-	100%	-
PANDROL (BERMUDA) LTD	-	100%	-
P WAY INDUSTRIES PTY LTD	-	100%	-
PANDROL MATERIAL FERROVIARIO LTD	-	100%	-
PANDROL INVESTMENTS LLC.	-	100%	-
SONGDRIFT LIMITED	03817451	100%	31/12/2003
UPPER 389 LIMITED	04578444	100%	31/12/2012
CONIL HOLDING B.V.	34124367	100%	31/12/2012
PANDROL HOLDINGS LIMITED	03841849	49.44%	31/12/2012
PANDROL FIXACOES LIMITADA	-	100%	-
JHG (1999) LIMITED	SC009265	100%	31/12/2012
HGG (1999) LIMITED	00551223	100%	31/12/2012
UPPERGLEN LIMITED	03817392	100%	31/12/2012
VORTOK LIMITED	02801849	100%	31/12/2012
PANDROL UK	-	100%	-
SPECIALISED ENGINEERING HO...	SC006655	100%	31/12/2012
PANDROL GROUP LIMITED	03817375	100%	31/12/2012
PANDROL FINANCE LIMITED	03817421	100%	31/12/2012
FOXGLOVE INTERNATIONAL...	US03676855	100%	-
PANDROL USA LP	-	100%	-
PANDROL INTERNATIONAL ...	00398548	100%	31/12/2012
MULTICLIP COMPANY LI...	01212929	100%	31/12/2012
PANDROL LIMITED	00521438	100%	31/12/2012
SPECIALISED ENGINEERING HOLDINGS SARL	-	100%	-
PANDROL RAIL FASTENING LIMITED	-	100%	-
PANDROL PTY LTD	-	40%	-
PANDROL KOREA LTD	-	100%	-
ROSENQVIST RAIL AB	5564761053	100%	31/12/2012
TRACK TECHNOLOGY LIM...	00597269	100%	31/12/2012
PANDROL SA PTY LTD	-	36%	-
CONIL HOLDING BV	-	69.11%	-
PANDROL CDM TRACK ...	421718683	99.88%	31/12/2012
PANDROL CANADA LIMITED	-	100%	-
PANDROL INDONESIA P.T	-	60.60%	-
PANDROL AUSTRALIA PTY LTD	-	100%	-
IAT N.V.	30144159	90%	31/12/2012
IAT FIXCOES ELASTICAS LIMITADA	-	100%	-
PANDROL 1520 LLC	-	70%	-
PANDROL PENSION TRUSTEES LIM...	03928173	100%	31/03/2013
PANDROL DAEWON	-	100%	-
PANDROL HOLDINGS LIMITED	03841849	50.56%	31/12/2012
PANDROL FIXACOES LIMITADA	-	100%	-
JHG (1999) LIMITED	SC009265	100%	31/12/2012
HGG (1999) LIMITED	00551223	100%	31/12/2012
UPPERGLEN LIMITED	03817392	100%	31/12/2012
VORTOK LIMITED	02801849	100%	31/12/2012
PANDROL UK	-	100%	-
SPECIALISED ENGINEERING HOLD...	SC006655	100%	31/12/2012
PANDROL GROUP LIMITED	03817375	100%	31/12/2012
PANDROL FINANCE LIMITED	03817421	100%	31/12/2012
FOXGLOVE INTERNATIONAL I...	US03676855	100%	-
PANDROL USA LP	-	100%	-
PANDROL INTERNATIONAL LI...	00398548	100%	31/12/2012
MULTICLIP COMPANY LIMI...	01212929	100%	31/12/2012
PANDROL LIMITED	00521438	100%	31/12/2012
SPECIALISED ENGINEERING HOLDINGS SARL	-	100%	-
PANDROL RAIL FASTENING LIMITED	-	100%	-
PANDROL PTY LTD	-	40%	-
PANDROL KOREA LTD	-	100%	-
ROSENQVIST RAIL AB	5564761053	100%	31/12/2012
TRACK TECHNOLOGY LIMIT...	00597269	100%	31/12/2012
PANDROL SA PTY LTD	-	36%	-
CONIL HOLDING BV	-	69.11%	-
PANDROL CDM TRACK SA	421718683	99.88%	31/12/2012
PANDROL CANADA LIMITED	-	100%	-
PANDROL INDONESIA P.T	-	60.60%	-
PANDROL AUSTRALIA PTY LTD	-	100%	-
IAT N.V.	30144159	90%	31/12/2012
IAT FIXCOES ELASTICAS LIMITADA	-	100%	-
PANDROL 1520 LLC	-	70%	-
DELACHAUX MÉTAL INC	-	100%	-
MORPARK	-	100%	-
CONDUCTIX-WAMPFLER INC	-	89.50%	-
CONDUCTIX-WAMPFLER CORP	-	100%	-
CONDUCTIX-WAMPFLER PTY LTD	-	100%	-
CONDUCTIX-WAMPFLER S DE RL DE CV	-	100%	-
CONDUCTIX-WAMPFLER LTD	01406477	83.44%	31/12/2013
WAMPFLER COMPANY LIMITED	01383136	100%	31/12/2013
SOCIETE NOUVELLE DES FONDERIES N...	314368937	99.38%	31/12/2003
CONDUCTIX-WAMPFLER SHANGHAI LTD	-	100%	-
CONDUCTIX-WAMPFLER PTE LTD	-	90%	-
CONDUCTIX-WAMPFLER INDIA PVT LTD	-	100%	-
DCX CHROME	519059562	100%	-
CONDUCTIX WAMPFLER FRANCE	752765255	100%	-
FINANCIERE DANUBE SÀRL	B161349	Min blocking	-

Shareholders

Type of shareholder

Shareholders

Linkages

Ultimate parent company	ANDE INVESTISSEMENT SA
Direct parent	H. R. T. - 99.86 %
Group – Number of companies	109
Linkages – Number of companies	9
Number of countries	7

Company Name	SIREN	Last account	Turnover
HRT UK LIMITED	04922075	31/12/2012	0 £
CONDUCTIX-WAMPFLER LIMITED	IE048908	31/12/2012	5 867 143 €
CONDUCTIX GMBH	HRB 7211	31/12/2006	-
CONIL HOLDING B.V.	34124367	31/12/2012	-
PANDROL UK LIMITED	00397784	31/12/2012	-
PANDROL RAIL FASTENINGS LIMITED	01472107	31/12/2012	-
DELACHAUX METAL INC	US10396676	-	1 225 000 $
CONDUCTIX INC	US17205195	-	2 793 000 $
HRT S A S	-	-	-

event history

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
05/01/2014	Bodacc B	Modification et mutation diverse
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE VALENCIENNES 490 - 389 670 142 RCS Valenciennes. RAILTECH INTERNATIONAL. Forme : Société anonyme. Administration : nomination du Président du CA et Directeur Général : Talbourdet, Guy, modification du Président directeur général Colliaut, Jean-Pierre, modification de l'Administrateur Lunel, Vincent Marie Marc Régis, nomination de l'Administrateur : Lardennois, François. Capital : 15851323 EUR. Activité : .  Adresse du siège social : rue du Bas Pré Zone, 59590 Raismes.  Commentaires : modification survenue sur l'administration.
21/12/2013	JAL	Appointment of the social representative
Gazette Nord Pas de Calais/Edition du Nord Date de décision : 12/12/2013 Société faisant l'objet d'une nomination : 389670142 - RAILTECH INTERNATIONAL, RUE DU BAS PRE, ZONE INDUSTRIELLE, 59590 RAISMES  Nominé : Monsieur Guy TALBOURDET, 59000 LILLE En la fonction de : Administrateur Nominé : Monsieur François LARDENNOIS, 78000 VERSAILLES En la fonction de : Administrateur
21/12/2013	JAL	Resignation / Revocation of the social representative
Gazette Nord Pas de Calais/Edition du Nord Date de décision : 12/12/2013 La société 389670142 - RAILTECH INTERNATIONAL, RUE DU BAS PRE, ZONE INDUSTRIELLE, 59590 RAISMES  Fait l'objet du départ de Monsieur Jean-Pierre COLLIAUT, 17 Boulevard du Général Exelmans, 78150, LE CHESNAY,  De Monsieur Vincent LUNEL, 136 Avenue des Champs Elysées, 75008, PARIS 08
16/10/2013	Bodacc B	Modification et mutation diverse
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE VALENCIENNES 1317 - 389 670 142 RCS Valenciennes. RAILTECH INTERNATIONAL. Forme : Société anonyme. Administration : modification de l'Administrateur Marant Kerdaniel-Chiris, Le De Dommin. Capital : 15851323 EUR. Activité : .  Adresse du siège social : rue du Bas Pré Zone, 59590 Raismes.  Commentaires : modification survenue sur l'administration.
28/09/2013	JAL	Resignation / Revocation of the social representative
Gazette Nord Pas de Calais/Edition du Nord Date de décision : 26/09/2013 La société 389670142 - RAILTECH INTERNATIONAL, RUE DU BAS PRE, ZONE INDUSTRIELLE, 59590 RAISMES  Fait l'objet du départ de Monsieur Le Marant de Kerdaniel-Chiris Domnin
24/09/2011	JAL	Resignation / Revocation of the social representative
Gazette Nord Pas de Calais/Edition du Nord Date de décision : 07/09/2011 La société 389670142 - RAILTECH INTERNATIONAL, RUE DU BAS PRE, ZONE INDUSTRIELLE, 59590 RAISMES  Fait l'objet du départ de Monsieur François DELACHAUX, 2 Rue Roger Kuhlmann, 68150 HUNAWIHR Monsieur Michel SARAZIN, 40 Boulevard Cotte, 95880 ENGHIEN LES BAINS Monsieur Raymond Yves DEROCHE, 2 Rue du Temple Romain, 57130 VAUX Date d'effet : 07/09/2011
24/09/2011	JAL	Appointment of the social representative
Gazette Nord Pas de Calais/Edition du Nord Société faisant l'objet d'une nomination : 389670142 - RAILTECH INTERNATIONAL, RUE DU BAS PRE, ZONE INDUSTRIELLE, 59590 RAISMES  Nominé : Monsieur Vincent LUNEL, 75016 PARIS 16 En la fonction de : Administrateur Nominé : Monsieur Stéphane DELACHAUX, 78000 VERSAILLES En la fonction de : Administrateur Nominé : Monsieur Domnin de KERDANIEL, 75006 PARIS 06 En la fonction de : Administrateur Date d'effet : 07/09/2011
30/08/2010	Bodacc C	Comptes annuels et rapports
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE VALENCIENNES 5754 - 389670142 RCS. RAILTECH INTERNATIONAL. Forme : Société anonyme à conseil d'administration. Adresse : rue du Bas Pré Zone Industrielle 59590 Raismes. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
11/03/2010	Bodacc B	Modification et mutation diverse
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE VALENCIENNES 1091 - 389 670 142 RCS Valenciennes. RAILTECH INTERNATIONAL. Forme : Société anonyme à conseil d'administration. Administration : Président directeur général : COLLIAUT Jean-Pierre Administrateur : DELACHAUX François Administrateur : SARAZIN Michel André Eugène Administrateur : DEROCHE Raymond Yves Commissaire aux comptes titulaire : MAZARS SA Commissaire aux comptes suppléant : SAOUD Jean. Capital : 15851323 EUR. Activité : Exploitation de tous procédés aluminothermiques, création, fabrication, ventes d'attaches et sys- tèmes de voies concernant les voies ferrées. Adresse de l’établissement principal : rue du Bas Pré, Zone Industrielle, 59590 Raismes.  Adresse du siège social : rue du Bas Pré, Zone Industrielle, 59590 Raismes.  Commentaires : Départ d'un administrateur. Date de commencement de l’activité : 20/10/2004. Date d’effet : 09/06/2008.
11/03/2010	Bodacc B	Modification et mutation diverse
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE VALENCIENNES 1092 - 389 670 142 RCS Valenciennes. RAILTECH INTERNATIONAL. Forme : Société anonyme à conseil d'administration. Administration : Président directeur général : COLLIAUT Jean-Pierre Administrateur : DELACHAUX François Administrateur : SARAZIN Michel André Eugène Administrateur : DEROCHE Raymond Yves Commissaire aux comptes titulaire : MAZARS SA Commissaire aux comptes suppléant : SAOUD Jean. Capital : 15851323 EUR. Activité : Exploitation de tous procédés aluminothermiques, création, fabrication, ventes d'attaches et sys- tèmes de voies concernant les voies ferrées. Adresse de l’établissement principal : rue du Bas Pré, Zone Industrielle, 59590 Raismes.  Adresse du siège social : rue du Bas Pré, Zone Industrielle, 59590 Raismes.  Commentaires : Changement de commissaire aux comptes suppléant Changement de commissaire aux comptes titulaire. Date de commencement de l’activité : 20/10/2004. Date d’effet : 04/06/2009.
29/01/2010	JAL	Resignation / Revocation of the social representative
LA GAZETTE DU NORD PAS DE CALAIS Date de décision : 09/06/2008 La société 389670142 - RAILTECH INTERNATIONAL, RUE DU BAS PRE, ZONE INDUSTRIELLE, 59590 RAISMES  Fait l'objet du départ de Monsieur Marc GATTI
29/01/2010	JAL	Resignation / Revocation of the social representative
LA GAZETTE DU NORD PAS DE CALAIS Date de décision : 04/06/2009 La société 389670142 - RAILTECH INTERNATIONAL, RUE DU BAS PRE, ZONE INDUSTRIELLE, 59590 RAISMES  Fait l'objet du départ de Madame Annie-Eugénie ROGNANT
29/01/2010	JAL	Resignation / Revocation of the social representative
LA GAZETTE DU NORD PAS DE CALAIS Date de décision : 04/06/2009 La société 389670142 - RAILTECH INTERNATIONAL, RUE DU BAS PRE, ZONE INDUSTRIELLE, 59590 RAISMES  Fait l'objet du départ de Monsieur Cyrille BROUARD
29/01/2010	JAL	Appointment of the social representative
LA GAZETTE DU NORD PAS DE CALAIS Société faisant objet d'une nomination : 389670142 - RAILTECH INTERNATIONAL, RUE DU BAS PRE, ZONE INDUSTRIELLE, 59590 RAISMES  Nominé : La société MAZARS SA, 61 RUE 61 RUE HENRI REGNAULT, COURBEVOIE, 92075 PARIS LA DEFENSE CEDEX En la fonction de : Commissaire au compte titulaire
29/01/2010	JAL	Appointment of the social representative
LA GAZETTE DU NORD PAS DE CALAIS Société faisant objet d'une nomination : 389670142 - RAILTECH INTERNATIONAL, RUE DU BAS PRE, ZONE INDUSTRIELLE, 59590 RAISMES  Nominé : Monsieur Jean SAOUD, 61 RUE 61 RUE HENRI REGNAULT, COURBEVOIE, 92075 PARIS LA DEFENSE CEDEX En la fonction de : Commissaire au compte suppléant
30/07/2009	Bodacc C	Comptes annuels et rapports
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE VALENCIENNES 7183 - 389670142 RCS. RAILTECH INTERNATIONAL. Forme : Société Anonyme à conseil d'administration. Adresse : rue du Bas Pré Zone Industrielle 59590 Raismes. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
12/01/2009	Bodacc C	Comptes annuels et rapports
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE VALENCIENNES 5765 - 389670142 RCS. RAILTECH INTERNATIONAL. Forme : Société Anonyme à conseil d'administration. Adresse : rue du Bas Pré Zone Industrielle 59590 Raismes. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
12/11/2008	Bodacc B	Modification et mutation diverse
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE VALENCIENNES 2011 - 389 670 142 RCS Valenciennes. RAILTECH INTERNATIONAL. Forme : Société anonyme à conseil d'administration. Administration : Président directeur général : COLLIAUT Jean-Pierre. Administrateur : DELACHAUX François. Administrateur : GATTI Marc. Administrateur : SARAZIN Michel André Eugène. Administrateur : DEROCHE Raymond Yves. Commissaire aux comptes titulaire : ROGNANT Annie Eugènie. Commissaire aux comptes suppléant : BROUARD Cyrille. Capital : 15851323 EUR. Activité : Exploitation de tous procédés aluminothermiques, création, fabrication, ventes d'attaches et sys- tèmes de voies concernant les voies ferrées. Adresse de l’établissement principal : rue du Bas Pré, Zone Industrielle, 59590 Raismes.  Adresse du siège social : rue du Bas Pré, Zone Industrielle, 59590 Raismes.  Commentaires : Départ d'un administrateur. Date de commencement de l’activité : 20/10/2004. Date d’effet : 19/06/2006.
12/11/2008	Bodacc B	Modification et mutation diverse
59 - NORD GREFFE DU TRIBUNAL DE COMMERCE DE VALENCIENNES 2012 - 389 670 142 RCS Valenciennes. RAILTECH INTERNATIONAL. Forme : Société anonyme à conseil d'administration. Administration : Président directeur général : COLLIAUT Jean-Pierre. Administrateur : DELACHAUX François. Administrateur : GATTI Marc. Administrateur : SARAZIN Michel André Eugène. Administrateur : DEROCHE Raymond Yves. Commissaire aux comptes titulaire : ROGNANT Annie Eugènie. Commissaire aux comptes suppléant : BROUARD Cyrille. Capital : 15851323 EUR. Activité : Exploitation de tous procédés aluminothermiques, création, fabrication, ventes d'attaches et sys- tèmes de voies concernant les voies ferrées. Adresse de l’établissement principal : rue du Bas Pré, Zone Industrielle, 59590 Raismes.  Adresse du siège social : rue du Bas Pré, Zone Industrielle, 59590 Raismes.  Commentaires : Nomination d'administrateurs. Date de commencement de l’activité : 20/10/2004. Date d’effet : 09/06/2008.
18/12/2007	Bodacc C	Avis de dépôt des comptes
2821 - 389 670 142. RCS Valenciennes RAILTECH INTERNATIONAL. Forme: Société Anonyme à conseil d'administration. Adresse du siège social: rue du Bas Pré Zone Industrielle 59590 Raismes. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2006.
18/11/2006	Bodacc C	Avis de dépôt des comptes
3872 - RCS Valenciennes B 389 670 142. RC 96-B 73. RAILTECH INTERNATIONAL. Forme: S.A. à conseil d'administration . Adresse du siège social: Zone Industrielle rue du Bas Pré,59590 Raismes. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
13/08/2005	Bodacc C	Avis de dépôt des comptes
3483 - RCS Valenciennes B 389 670 142. RC 96-B 73. RAILTECH INTERNATIONAL. Forme: S.A. à conseil d'administration . Adresse du siège social: Zone Industrielle rue du Bas Pré,59590 Raismes. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
12/04/2005	Bodacc B	Modifications et mutations diverses
1083 - RCS Valenciennes B 389 670 142. RC 96-B 73. RAILTECH INTERNATIONAL. Forme : S.A. à conseil d'administration. Capital : 15 851 323 euros. Adresse du siège social : Z.I., rue du Bas-Pré,, 59590 Administration : P.-D.G. : COLLIAUT (Jean-Pierre). Administrateurs : DELACHAUX (François) BOMMART (Patrick) GATTI (Marc). Commissaire aux comptes titulaire : Mme ROGNANT (Annie, Eugénie). Commissaire aux comptes suppléant : BROUARD (Cyrille). Ancienne administration : ancien commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT. Ancien commissaire aux comptes suppléant : NICOLAS (Yves). Etablissement principal - Activité : exploitation de tous procédés aluminothermiques, création, fabrication, ventes d'attaches et de systèmes de voies concernant les voies ferrées. Adresse : Z.I., rue du Bas-Pré, 59590 Date d'effet : 23 juin 2004.
23/01/2005	Bodacc B	Modifications et mutations diverses
1461 - Ancienne situation du siège social : RCS Valenciennes B 389 670 142. RC 96-B 73. PROMORAIL. Forme : S.A. à conseil d'administration. Capital : 1 588 750 euros. Nom commercial : Société Industrielle de Wallers (SIW) et Pandrol. Adresse : Z.I., rue du Bas-Pré, 59590 Administration : P.-D.G. : COLLIAUT (Jean-Pierre). Administrateurs : DELACHAUX (François) BOMMART (Patrick) GATTI (Marc). Commissaires aux comptes titulaires : Mme ROGNANT (Annie, Eugénie) PRICEWATERHOUSECOOPERS AUDIT S.A. Commissaires aux comptes suppléants : BROUARD (Cyrille) NICOLAS (Yves). Ancienne administration : ancien P.-D.G. : BYLES (John). Anciens administrateurs : LEMOUSSU (Jean-Henri) GARNIER (Jacques) LOMBART (Philippe) BEAL-PRESTON (John). Ancien commissaire aux comptes titulaire : MAZARS ET GUERARD. Ancien commissaire aux comptes suppléant : BOUILLET (Philippe). Nouvelle situation du siège social - Dénomination : RAILTECH INTERNATIONAL. Capital : 15 851 323 euros. Etablissement principal - Activité : prise de participations, directe ou indirecte, dans toutes sociétés, françaises ou étrangères. Adresse : Z.I., rue du Bas-Pré, 59590 Etablissement principal - nouvelle situation - Activité : exploitation de tous procédés aluminothermiques, création, fabrication, ventes d'attaches et de systèmes de voies concernant les voies ferrées. Date d'effet : 12 novembre 2004.
19/01/2005	Bodacc C	Avis de dépôt des comptes
1901 - RCS Paris B 389 670 142. RC 93-B 154. PROMORAIL. Forme: S.A. Adresse du siège social: 3, avenue Hoche,75008 Paris. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2003.
17/12/2004	Bodacc B	Modifications et mutations diverses
Ancienne situation du siège social. RCS Valenciennes B 389670142 RC 96-B 73 PROMORAIL. Forme : S.A. à conseil d' administration. Capital : 1 588 750 euros Nom commercial: Société Industrielle de Wallers (SIW) et Pandrol. Adresse : 3 avenue Hoche, 75008 Paris Nouvelle situation du siège social. Adresse : Z.I., rue du Bas-Pré, 59590 Raismes Etablissement principal: Activité : prise de participations, directes ou indirectes, dans toutes sociétés, françaises ou étrangères. Adresse : Z.I., rue du Bas-Pré, 59590 Raismes. Date d'effet : 20 octobre 2004.
22/02/2004	Bodacc B	Modifications et mutations diverses
RCS Paris B 389670142 RC 93-B 154 PROMORAIL. Forme : S.A Nom commercial: Société Industrielle de Wallers Siw et Pandrol France. Commentaires : modification survenue sur l' administration. Administration : commissaire aux comptes titulaire partant : ACL AUDIT. Modification d'un commissaire aux comptes titulaire : PRICEWATERHOUSECOOPERS AUDIT. Nomination d'un commissaire aux comptes titulaire : MAZARS ET GUERARD. Nomination de commissaires aux comptes suppléants : NICOLAS (Yves) BOUILLET ( Philippe).
27/11/2003	Bodacc B	Modifications et mutations diverses
RCS Paris B 389670142 RC 93-B 154 PROMORAIL. Forme : S.A Nom commercial: Société Industrielle de Wallers Siw et Pandrol France. Commentaires : modification survenue sur l' administration. Administration : commissaire aux comptes suppléant partant : GUFFLET (Gilles). Nomination d'un commissaire aux comptes suppléant : PRICEWATERHOUSECOOPERS AUDIT S.A.
25/02/2003	Bodacc B	Modifications et mutations diverses
RCS Paris B 389670142 RC 93-B 154 PROMORAIL. Forme : S.A Nom commercial: Société Industrielle de Wallers Siw et Pandrol France. Commentaires : modification survenue sur l' administration. Administration : modification du président du conseil d' administration et directeur général : BYLES (John, Robert). Président du conseil d'administration et directeur général partant : LODGE (Geoffrey, Malcolm).
30/10/2002	Bodacc B	Modifications et mutations diverses
RCS Paris B 389670142 RC 93-B 154 PROMORAIL. Forme : S.A Nom commercial: Société Industrielle de Wallers Siw et Pandrol France. Commentaires : modification survenue sur l' administration. Administration : modification du président du conseil d' administration et directeur général : LODGE (Geoffrey, Malcolm). Modification d'administrateurs : LEMOUSSU (Jean, Henri) GARNIER (Jacques).
11/12/2001	Bodacc B	Modifications et mutations diverses
RCS Paris B 389670142 RC 93-B 154 PROMORAIL. Forme : S.A. Capital : 1 570 000 euros Nom commercial: Société Industrielle de Wallers Siw et Pandrol France. Commentaires : modification survenue sur le capital (augmentation).
15/11/2000	Bodacc B	Modifications et mutations diverses
RCS Paris B 389670142 RC 93-B 154 PROMORAIL. Forme : S.A Nom commercial: Société Industrielle de Wallers-S.I.W. Pandrol France. Commentaires : modification survenue sur l' administration. Administration : P.-D.G. partant : LEGETT (Bruce, Edward, Gordon).
15/11/2000	Bodacc B	Modifications et mutations diverses
RCS Paris B 389670142 RC 93-B 154 PROMORAIL. Forme : S.A Nom commercial: Société Industrielle de Wallers-S.I.W. Pandrol France. Commentaires : modification survenue sur l' administration. Administration : nomination du président du conseil d' administration : LODGE (Geoffrey, Malcolm). Nomination d'administrateurs : BYLES (John, Robert) LOMBART ( Philippe) BEAL-PRESTON (John).

Company events history

Date	Description
09/01/2014	Update Rating
05/01/2014	Bodacc B: Various editing or changing
21/12/2013	Legal Gazette: Resignation / Revocation of the social representative
19/12/2013	Amendment
19/12/2013	New chairman (CEO, CoB)
19/12/2013	Minutes of general meeting of shareholders
19/12/2013	Changes to the Board of Directors
12/12/2013	Legal Gazette: Appointment of the social representative
30/11/2013	Update Limit
30/11/2013	Update Rating
16/10/2013	Bodacc B: Various editing or changing
15/10/2013	Update Rating
01/10/2013	Amendment
01/10/2013	Changes to the Board of Directors
28/09/2013	Legal Gazette: Resignation / Revocation of the social representative
07/10/2011	Update of participations in other companies
07/10/2011	Disengagement in other companies
07/10/2011	New subsidiarie(s) detected
07/10/2011	New ultimate parent
03/10/2011	Amendment
03/10/2011	Changes to the Board of Directors
03/10/2011	Minutes of Board meeting
24/09/2011	Legal Gazette: Resignation / Revocation of the social representative
07/09/2011	Legal Gazette: Appointment of the social representative
16/07/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
03/06/2011	New ultimate parent
30/05/2011	New Filling of Social Security preferential right
30/05/2011	Unfiling of a Social Security preferential right
04/02/2011	Disengagement in other companies
31/12/2010	New accounts available
30/08/2010	Bodacc C : Deposit accounts notice
13/08/2010	Update of participations in other companies
11/03/2010	Bodacc B: Various editing or changing
15/02/2010	Changement de Commissaire aux Comptes
15/02/2010	PV d'Assemblée
15/02/2010	Minutes of general meeting of shareholders
15/02/2010	Appointment/resignation of company officers
15/02/2010	Modification du Conseil d'Administration
15/02/2010	Changes to the Board of Directors
15/02/2010	New auditor
29/01/2010	Legal Gazette: Resignation / Revocation of the social representative
31/12/2009	New accounts available
30/07/2009	Bodacc C : Deposit accounts notice
04/06/2009	Legal Gazette: Appointment of the social representative
12/01/2009	Bodacc C : Deposit accounts notice
31/12/2008	Modification of Company Activity
31/12/2008	Update of Company Activity
31/12/2008	New accounts available
12/11/2008	New Bodacc B ads detected
12/11/2008	Bodacc B: Various editing or changing
16/10/2008	Minutes of general meeting of shareholders
16/10/2008	PV d'Assemblée
16/10/2008	Appointment/resignation of company officers
16/10/2008	Private document
16/10/2008	Modification du Conseil d'Administration
16/10/2008	Changes to the Board of Directors
11/09/2008	Modification of Company Activity
11/09/2008	Update of Company Activity
29/04/2008	Collection of preferential rights activated for this company
31/12/2007	New accounts available
31/12/2006	New accounts available
31/12/2005	New accounts available
25/01/2005	Private document
25/01/2005	Appointment/resignation of company officers
25/01/2005	Minutes of general meeting of shareholders
25/01/2005	PV d'Assemblée
25/01/2005	Changement de Commissaire aux Comptes
25/01/2005	Acte sous seing privé
25/01/2005	Nomination/démission des organes de gestion
31/12/2004	New accounts available
29/12/2004	Fusion
29/12/2004	Merger
29/12/2004	Acte modificatif
29/12/2004	Changement de Commissaire aux Comptes
29/12/2004	Updated articles of association
29/12/2004	Statuts mis à jour
29/12/2004	PV du Conseil d'Administration
29/12/2004	Minutes of Board meeting
29/12/2004	PV d'Assemblée
29/12/2004	Minutes of general meeting of shareholders
29/12/2004	Nomination/démission des organes de gestion
29/12/2004	Appointment/resignation of company officers
29/12/2004	Déclaration de conformité
29/12/2004	Declaration of conformity
29/12/2004	Private document
29/12/2004	Acte sous seing privé
29/12/2004	Augmentation de Capital
29/12/2004	Capital increase
29/12/2004	Capital reduction
29/12/2004	Réduction de Capital
29/12/2004	Change to corporate purpose
29/12/2004	Modification de l'objet social
29/12/2004	Changement de dénomination sociale
29/12/2004	New company name
29/12/2004	Changement de Président (PDG, PCA)
29/12/2004	Changes to the Board of Directors
29/12/2004	Modification du Conseil d'Administration
30/11/2004	Updated articles of association
30/11/2004	Capital increase
30/11/2004	Acte sous seing privé
30/11/2004	Private document
30/11/2004	Augmentation de Capital
30/11/2004	Statuts mis à jour
30/11/2004	PV d'Assemblée
30/11/2004	Secondary registration becomes main registration
30/11/2004	Immatriculation secondaire devient principale
30/11/2004	Transfert du Siège dans le ressort du Tribunal de Commerce
30/11/2004	Minutes of general meeting of shareholders
05/11/2004	Audit or Management Report
05/11/2004	Acte sous seing privé
05/11/2004	Private document
05/11/2004	Rapport des Commissaires ou du Gérant
11/10/2004	Planned merger
11/10/2004	Projet de Fusion
11/10/2004	Acte sous seing privé
11/10/2004	Private document
11/05/2004	Requête et Ordonnance
11/02/2004	Changement de Commissaire aux Comptes
11/02/2004	PV d'Assemblée
11/02/2004	Nomination/démission des organes de gestion
11/02/2004	Acte sous seing privé
31/12/2003	New accounts available
17/11/2003	Nomination/démission des organes de gestion
17/11/2003	Changement de Commissaire aux Comptes
17/11/2003	PV d'Assemblée
17/11/2003	Acte sous seing privé
11/02/2003	Nomination/démission des organes de gestion
11/02/2003	Acte sous seing privé
11/02/2003	PV du Conseil d'Administration
11/02/2003	Changement de Président (PDG, PCA)
11/02/2003	Modification du Conseil d'Administration
17/10/2002	PV d'Assemblée
17/10/2002	Statuts mis à jour
17/10/2002	Acte sous seing privé
17/10/2002	Changement de Président (PDG, PCA)
17/10/2002	PV du Conseil d'Administration
28/11/2001	Conversion du Capital Social en Euros
28/11/2001	PV d'Assemblée
28/11/2001	Augmentation de Capital
28/11/2001	Acte sous seing privé
28/11/2001	Statuts mis à jour
30/10/2000	Acte sous seing privé
30/10/2000	Nomination/démission des organes de gestion
30/10/2000	Modification du Conseil d'Administration
30/10/2000	PV d'Assemblée
30/10/2000	Changement de Président (PDG, PCA)
30/10/2000	PV du Conseil d'Administration
06/03/1996	Changement de dénomination sociale
06/03/1996	Statuts mis à jour
06/03/1996	Changement de date de clôture
06/03/1996	PV d'Assemblée
06/03/1996	Modification de l'objet social
06/03/1996	Acte modificatif
27/02/1996	Fusion
27/02/1996	Acte modificatif
27/02/1996	PV d'Assemblée
19/12/1995	Rapport des Commissaires ou du Gérant
19/12/1995	Acte modificatif
17/11/1995	Acte sous seing privé
17/11/1995	Fusion
17/11/1995	Acte modificatif
12/10/1995	Requête et Ordonnance
24/01/1995	Statuts mis à jour
24/01/1995	Acte modificatif
24/01/1995	PV d'Assemblée
20/07/1993	Déclaration de conformité
20/07/1993	PV d'Assemblée
20/07/1993	PV du Conseil d'Administration
20/07/1993	Statuts mis à jour
20/07/1993	Acte modificatif
20/07/1993	Nomination/démission des organes de gestion
20/07/1993	Augmentation de Capital
20/07/1993	Modification du Conseil d'Administration
31/12/1992	Nomination/démission des organes de gestion
31/12/1992	Formation de Société
31/12/1992	Acte sous seing privé
31/12/1992	Statuts
31/12/1992	PV du Conseil d'Administration
31/12/1992	Déclaration de conformité
31/12/1992	Certificat de dépôt des fonds
31/12/1992	PV d'Assemblée

Establishment events history

Date	Description
09/03/2014	Update Limit
09/03/2014	Update Rating
30/11/2013	Update Limit
30/11/2013	Update Rating
28/02/2013	Update of phone numbers
12/01/2013	Update of phone numbers
02/06/2011	Update Rating
02/06/2011	Update Limit
06/05/2011	Update Rating
21/01/2011	Update Rating
19/08/2010	Update Rating
09/04/2010	Update Rating
19/01/2009	Update Rating
19/01/2009	Update Limit
31/12/2008	Modification of Head office
01/10/2008	Update Limit
11/09/2008	Update of Establishment Activity
11/09/2008	Modification of Head office Activity
03/09/2008	Update Rating
03/07/2008	Update Rating
17/12/2007	Update Limit
17/12/2007	Update Rating
10/12/2007	Update Limit
09/12/2007	Update Limit

directors

Name	Mme. TALBOURDET GUY
Manager position	Chairman of the Board, Managing director	Date of birth	01/08/1965
Place of birth	SAINT-BRIEUC (22000)
Type	Individual	Name at birth

Name	M. DELACHAUX STÉPHANE JEAN-LUC
Manager position	Administrator	Date of birth	01/04/1965
Place of birth	FONTAINEBLEAU (77300)
Type	Individual	Name at birth

Name	M. LARDENNOIS FRANÇOIS
Manager position	Administrator	Date of birth	25/06/1966
Place of birth	REIMS (51100)
Type	Individual	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
Chief Executive Officer	M JEAN-PIERRE COLLIAUT	24/03/1947 - 75 PARIS (15EME)
Chief Executive Officer	M JEAN-PIERRE COLLIAUT	24/03/1947 - PARIS (15ÈME) (75015)
Chief Executive Officer	M JEAN-PIERRE COLLIAUT	24/03/1947 - PARIS 15
Administrator	M FRANCS BOMMART	07/07/1926 - PARIS 6
Administrator	M FRANCOIS DELACHAUX	26/08/1940 - 18 ST AMAND MONTROND
Administrator	M FRANCOIS DELACHAUX	26/08/1940 - ST AMAND MONTROND
Administrator	M STEPHANE JEAN-LUC DELACHAUX	01/04/1965 - 77 FONTAINEBLEAU
Administrator	M RAYMOND DEROCHE	- - -
Administrator	M RAYMOND YVES DEROCHE	21/06/1937 - 75 PARIS
Administrator	M RAYMOND DEROCHE	21/06/1937 - PARIS 14
Administrator	M MARC GATTI	18/03/1928 - CHARON ALGERIE
Administrator	M VINCENT MARIE MARC REGIS LUNEL	09/04/1961 - 92 NEUILLY-SUR-SEINE
Administrator	M VINCENT MARIE MARC RÉGIS LUNEL	09/04/1961 - NEUILLY-SUR-SEINE (92200)
Administrator	M LE DE DOMMIN MARANT KERDANIEL-CHIRIS	11/07/1967 - ATHENES(GRECE)
Administrator	M MICHEL SARAZIN	- - -
Administrator	M MICHEL ANDRE EUGENE SARAZIN	24/06/1939 - 78 HOUILLES
Administrator	M MICHEL SARAZIN	24/06/1939 - HOUILLES

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.09
UK Pound	1	Rs.101.41
Euro	1	Rs.85.08

INFORMATION DETAILS

Report Prepared by :

MNL

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
--	NB	New Business	--

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

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.