|
Report Date : |
07.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
DOVER PUMP SOLUTIONS GROUP (EUROPE) GMBH |
|
|
|
|
Registered Office : |
Aspstrasse 12, 8154 Oberglatt/ZH |
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|
|
|
Country : |
Switzerland |
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|
|
Financials (as on) : |
31.12.2013 |
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|
|
Date of Incorporation : |
08.07.2013 |
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|
|
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Com. Reg. No.: |
020.4.050.382-8 / 1146338 |
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|
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Legal Form : |
Limited Liability Company |
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|
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Line of Business : |
Subject offers positive displacement pump and supporting technologies
for the safe, efficient and reliable transfer of critical and valuable
materials. |
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No. of Employees : |
1-9 |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
|
Status : |
New Business |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Switzerland |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
SWITZERLAND - ECONOMIC OVERVIEW
Switzerland is a peaceful, prosperous,
and modern market economy with low unemployment, a highly skilled labor force,
and a per capita GDP among the highest in the world. Switzerland's economy
benefits from a highly developed service sector, led by financial services, and
a manufacturing industry that specializes in high-technology, knowledge-based
production. Its economic and political stability, transparent legal system,
exceptional infrastructure, efficient capital markets, and low corporate tax
rates also make Switzerland one of the world's most competitive economies. The
Swiss have brought their economic practices largely into conformity with the
EU's to enhance their international competitiveness, but some trade
protectionism remains, particularly for its small agricultural sector. The fate
of the Swiss economy is tightly linked to that of its neighbors in the euro
zone, which purchases half of all Swiss exports. The global financial crisis of
2008 and resulting economic downturn in 2009 stalled export demand and put
Switzerland in a recession. The Swiss National Bank (SNB) during this period
effectively implemented a zero-interest rate policy to boost the economy as
well as prevent appreciation of the franc, and Switzerland's economy began to
recover in 2010. The sovereign debt crises currently unfolding in neighboring
euro-zone countries pose a significant risk to Switzerland's financial
stability and are driving up demand for the Swiss franc by investors seeking a
safe-haven currency. The independent SNB has upheld its zero-interest rate
policy and conducted major market interventions to prevent further appreciation
of the Swiss franc, but parliamentarians have urged it to do more to weaken the
currency. The franc's strength has made Swiss exports less competitive and
weakened the country's growth outlook; GDP growth fell below 2% per year during
2011-13. Switzerland has also come under increasing pressure from individual
neighboring countries, the EU, the US, and international institutions to reform
its banking secrecy laws. Consequently, the government agreed to conform to
OECD regulations on administrative assistance in tax matters, including tax
evasion. The government has renegotiated its double taxation agreements with
numerous countries, including the US, to incorporate the OECD standard, and is
considering the possibility of imposing taxes on bank deposits held by
foreigners. These steps will have a lasting impact on Switzerland's long
history of bank secrecy.
|
Source
: CIA |
DOVER PUMP SOLUTIONS
GROUP (EUROPE) GMBH
Operating
address:
Aspstrasse 12
8154 Oberglatt/ZH
Switzerland/CH
Telephone: 044
2788400
Web
site: http://www.psgdover.com
E-mail: info@psgdover.com
VAT-No.: CHE402520985
Established: 2013
Line
of Business: Consumer goods
wholesale
Industry
Division: Wholesale trade
Industry-code (NACE): 4669 Wholesale of other machinery and
equipment
Import/Export: Import
Banks: unknown
Coverage: Company
Employees: 1-9
The company offers positive displacement
pump and supporting technologies for the safe, efficient and reliable transfer
of critical and valuable materials.
Information on property ownership was not
available.
Company
No: 020.4.050.382-8 / 1146338
Legal
form: Limited Liability
Company
Registration: 08.07.2013
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Zürich (since 08.07.2013)
History: Date of Incorporation
Statutes: 25.06.2013
Entry Deleted Name
08.07.2013 Dover
Pump Solutions Group (Europe) GmbH
08.07.2013 Dover
Pump Solutions Group (Europe) LLC (Name translated)
Entry Deleted Legal domicile
08.07.2013 Oberglatt,
Switzerland
Entry Deleted Address
08.07.2013 Aspstrasse
12, 8154 Oberglatt ZH/ZH, Switzerland/CH
Entry Deleted Capital
08.07.2013 LLC
Capital CHF 500,000
Entry Deleted Capital Structure
26.02.2014 500
Participation shares of CHF 1,000.--
Entry Deleted Activity (original Language)
08.07.2013 Zweck
der Gesellschaft ist die Entwicklung, der Vertrieb und der Verkauf von
technischen Produkten aller Art sowie die Erbringung von diesbezüglichen
Beratungs-, Management-, Planungs- und Koordinationsaufgaben. Die Gesellschaft
kann im In- und Ausland Zweigniederlassungen und Tochtergesellschaften
errichten. Die Gesellschaft kann, auch ohne angemessene Gegenleistung,
Geschäfte mit nahestehenden Personen tätigen, insbesondere mit ihren direkten
und indirekten Gesellschaftern sowie anderen Konzerngesellschaften, namentlich
Darlehen an diese Personen ausrichten oder Garantien, Bürgschaften oder
Pfandrechte zur Sicherstellung ihrer Verbindlichkeiten ausstellen. Die
Gesellschaft kann im In- und Ausland Grundstücke und Beteiligungen erwerben,
verwalten, belasten und veräussern. Die Gesellschaft kann jede weitere
Tätigkeit ausüben, welche mit den erwähnten Zwecken direkt oder indirekt
zusammenhängt.
Entry Deleted Remarks (original Language)
08.07.2013 Publishing
authority: SHAB.
08.07.2013 Reports:
Mitteilungen der Geschäftsführung an die Gesellschafter erfolgen per Brief,
Telefax oder E-Mail an die im Anteilbuch eingetragenen Adressen.
Title Name
General
Manager Bernhard
Dicks, Origin: Germany, Residential address: Rheinberg, Germany, joint
signature of two, Registered since: 08.07.2013
General
Manager Urs Gull,
Origin: Zürich, Switzerland, Residential address: Freienbach, Switzerland,
joint signature of two, Registered since: 12.07.2013
General
Manager Tomas
Valencia Guzman, Origin: Spain, Residential address: Barcelona, Spain, joint
signature of two, Registered since: 26.02.2014
Chairman
of the management Ulrich Thürig,
Origin: Triengen, Switzerland, Residential address: Feusisberg, Switzerland,
joint signature of two, Registered since: 08.07.2013
Member
with signing authority Konrad Berg,
Origin: Wohlen AG, Switzerland, Residential address: Wohlen/AG, Switzerland,
joint signature of two, Registered since: 26.02.2014
Member
with signing authority Urs Calonder,
Origin: Trin, Switzerland, Residential address: Dielsdorf, Switzerland, joint
signature of two, Registered since: 26.02.2014
Member
with signing authority Jörg Hartmut
Giesler, Origin: Germany, Residential address: Zürich, Switzerland, joint
signature of two, Registered since: 26.02.2014
Member
with signing authority Michael
Heinen, Origin: Embrach, Switzerland, Residential address: Embrach,
Switzerland, joint signature of two, Registered since: 26.02.2014
Member
with signing authority Mohamed Khalil,
Origin: Winterthur, Switzerland, Residential address: Rafz, Switzerland, joint
signature of two, Registered since: 26.02.2014
Member
with signing authority Manfred Enno
Wäckerlin, Origin: Siblingen, Switzerland, Residential address: Brütten, Switzerland,
joint signature of two, Registered since: 26.02.2014
Title Name
Auditor PricewaterhouseCoopers
AG, Residential address: Zürich, Switzerland, Id: CHE-106.839.438, Registered
since: 08.07.2013
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2013 31.12.2012 31.12.2011 31.12.2010 31.12.2009
Number of months: 12 12 12 12 12
Currency: mil.
USD mil. USD mil. USD mil. USD mil.
USD
Balance Sheet
Intangible fixed
assets 5,855.4 5,740.1 4,994.2 4,276.0 4,300.9
Tangible fixed
assets 1,182.9 1,167.1 1,000.9 847.0 828.9
other fixed assets 559.6 508.9 109.2 178.0 229.8
Fixed assets 7,597.9 7,416.1 6,104.3 5,301.0 5,359.7
Stocks 926.9 872.8 803.3 714.0 570.8
Trade accounts
receivable 1,359.1 1,225.8 1,190.3 1,088.0 878.7
Liquid assets 803.8 800.1 1,206.8 1,187.0 714.3
Securities 223.8
other trade
accounts 150.4 128.9 196.8 212.0 134.9
Accruals 61.0
Other current
assets 954.2 929.0 1,403.6 1,460.0 1,073.1
Current assets 3,240.2 3,027.6 3,397.2 3,262.0 2,522.7
Total assets 10,838.1 10,443.7 9,501.5 8,563.0 7,882.4
Capital 1,126.8 1,088.7 913.9 846.0 744.6
Other shareholders
funds 4,250.6 3,830.5 4,016.7 3,681.0 3,338.9
Total shareholders
equity 5,377.4 4,919.2 4,930.6 4,527.0 4,083.6
long term debt
(financial debts) 2,599.2 2,189.3 2,186.2 1,791.0 1,825.2
Other non current
liabilities 1,246.0 1,348.6 1,181.7 1,051.0 1,004.3
Non current
liabilities 3,845.2 3,537.9 3,367.9 2,842.0 2,829.6
short term debt
(financial debts) 229.3 610.8 1.0 17.0
Trade accounts
payable 692.5 651.4 543.9 469.0 357.0
Accruals 477.4 506.5 620.2 440.0 326.7
other accounts
payable 216.3 217.9 37.9 268.0 285.4
other current
liabilities 693.7 724.4 658.1 708.0 612.2
Current
liabilities 1,615.5 1,986.6 1,203.0 1,194.0 969.2
Shareh. equity,
min. interests + liabilities 10,838.1 10,443.7 9,501.5 8,563.0 7,882.4
Profit and loss
account
Sales 8,729.8 8,104.3 7,950.1 7,133.0 5,775.6
Net sales 8,729.8 8,104.3 7,950.1 7,133.0 5,775.6
Other operating
revenue 4.2 3.9
Operating revenue 8,734.0 8,104.3 7,950.1 7,133.0 5,779.6
Cost of goods sold 5,390.1 4,997.3 4,898.7 4,400.0 3,676.5
Gross profit 3,343.9 3,107.0 3,051.4 2,733.0 2,103.1
Other operating
expenses 1,985.8 1,870.3 1,840.6 1,698.0 1,513.1
Operating result 1,358.1 1,236.7 1,210.8 1,035.0 589.9
Interest revenues 4.8 9.3
other financial
revenues 122.6
Financial income 122.6 4.8 9.3 0.0 0.0
Interest expenses 120.7 125.9 124.9 106.0 100.3
other financial
expenses 7.4 4.0
Financial expenses 120.7 133.3 124.9 110.0 100.4
Financial result 1.9 -128.5 -115.6 -110.0 -100.4
Result before
extraordinary items 1,360.0 1,108.2 1,095.2 925.0 489.5
Extraordinary
income 37.3 53.6
Extraordinary
expenses 4.7 8.0
Extraordinary
Result 37.3 0.0 48.9 -8.0 0.0
Result before
taxes 1,397.3 1,108.2 1,144.1 917.0 489.5
Taxes 271.6 304.5 248.8 217.0 133.1
Result before
minority interests 1,125.7 803.7 895.3 700.0 356.4
Result for the
financial year 1,125.7 803.7 895.3 700.0 356.4
Cash flow
Depreciation 421.6 357.6 303.1 268.0 258.2
Cash flow 1,547.3 1,161.3 1,198.4 968.0 614.6
Cash flow from
operating activities 1,154.4 1,261.2 1,058.2 951.0 802.0
Investments in
tangible fixed assets 236.8 297.0 271.8 -183.0 120.0
Cash flow from
investing activities -468.9 -1,345.8 -1,020.9 -179.0 -257.8
Cash flow from
financing activities -678.5 -342.9 -50.5 -305.0 -389.9
Others -3.3 20.9 30.9 6.0 12.7
Change in
liquidity 3.7 -406.6 17.7 473.0 167.0
Liquidity at
beginning of the year 800.1 1,206.7 1,189.1 714.0 547.4
Liquidity at end
ot the year 803.8 800.1 1,206.8 1,187.0 714.4
Notes
Research and
Development 185.6 189.8 197.0 194.0
Added value 1,939.6 1,572.1 1,291.0 848.0
Working Capital 1,593.5 1,449.7 1,333.0 1,092.5
Sales per Employee 0.2 0.2 197.1
Gross cost land
and buildings 692.5 675.5 640.7 619.0 603.2
Gross cost other
tangible fixed assets 2,374.5 2,231.7 2,033.9 1,921.0 1,840.6
Gross cost total 3,067.0 2,907.2 2,674.6 2,540.0 2,443.9
Insurance value
total 0.0 0.0
Employees at year end 37,000 35,000 34 32,000 29
Name: Dover Corporation
City/Country: Downers Grove/Illinois, United
States of America/US
No.
of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Type: indirect, Group-Level
1
Name: Dover Corporation
City/Country: Downers Grove/Illinois, United
States of America/US
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Type: direct
Name: Dover (Schweiz)
Holding GmbH
City/Country: Tentlingen/FR, Switzerland/CH
No.
of shares: 500
Capital
share: CHF 500,000.--
Interest: 100,00% voting right,
100,00% capital interest
Name: DTG International GmbH
City/Country: Zürich/ZH, Switzerland/CH
It is believed that the company has no
investments.
An updated legal action check is only
available against proof of interest. e.g. a copy of an enquiry letter, and
order or invoice relating to the subject company.
Financial
Statements: The company does not
disclose any financial statements. Third parties are not permitted any insight
into the financial affairs. It is therefore difficult to make a proper
assessment of the actual situation.
Financial
Situation: The financial situation
is in order.
Payment
experiences: There are no objections
regarding the payment of financial obligations.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.20 |
|
|
1 |
Rs.101.68 |
|
Euro |
1 |
Rs.83.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NNA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.