MIRA INFORM REPORT

Report Date :

17.05.2014

IDENTIFICATION DETAILS

Name :	ACHENBACH BUSCHHÜTTEN GMBH & CO. KG
Registered Office :	Siegener Str. 152, D 57223 Kreuztal
Country :	Germany
Date of Incorporation :	27.07.2012
Com. Reg. No.:	HRA 8724
Legal Form :	Ltd partnership with priv. ltd. company as general partner
Line of Business :	· Provider of non-ferrous metal rolling mills and foil slitting machines for the non-ferrous metal and finishing industry.  · Manufacturer of metal products · Manufacturer of other general-purpose machinery · Wholesaler of other machinery, equipment and supplies · Wholesaler of non-ferrous ores, metals and metal semi-finished goods
No of Employees :	320

RATING & COMMENTS

MIRA’s Rating :

B

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

Status :	Moderate
Payment Behaviour :	No Complaints
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – March 31, 2014

Country Name	Previous Rating (31.12.2013)	Current Rating (31.03.2014)
Germany	A1	A1

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

germany ECONOMIC OVERVIEW

The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Like its Western European neighbors, Germany faces significant demographic challenges to sustained long-term growth. Low fertility rates and declining net immigration are increasing pressure on the country's social welfare system and necessitate structural reforms. Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, has contributed to strong growth and falling unemployment. These advances, as well as a government subsidized, reduced working hour scheme, help explain the relatively modest increase in unemployment during the 2008-09 recession - the deepest since World War II - and its decrease to 5.3% in 2013. The new German government introduced a minimum wage of $11 per hour to take effect in 2015. Stimulus and stabilization efforts initiated in 2008 and 2009 and tax cuts introduced in Chancellor Angela MERKEL's second term increased Germany's total budget deficit - including federal, state, and municipal - to 4.1% in 2010, but slower spending and higher tax revenues reduced the deficit to 0.8% in 2011 and in 2012 Germany reached a budget surplus of 0.1%. A constitutional amendment approved in 2009 limits the federal government to structural deficits of no more than 0.35% of GDP per annum as of 2016 though the target was already reached in 2012. Following the March 2011 Fukushima nuclear disaster, Chancellor Angela MERKEL announced in May 2011 that eight of the country's 17 nuclear reactors would be shut down immediately and the remaining plants would close by 2022. Germany hopes to replace nuclear power with renewable energy. Before the shutdown of the eight reactors, Germany relied on nuclear power for 23% of its electricity generating capacity and 46% of its base-load electricity production.

Source : CIA

company name

Achenbach Buschhütten GmbH & Co. KG

Company address

Siegener Str. 152

D 57223 Kreuztal

Telephone: 02732/7990

Telefax: 02732/799799

Homepage: www.achenbach.de

E-mail: info@achenbach.de

Company Status

active

VAT no

DE815381305

CONCLUSION

Business relations are permissible.

Synthesis

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

Date of foundation: 27.07.2012

Begin of business

activities: 27.07.2012

Registered on: 27.07.2012

Register of

companies: Local court 57072 Siegen

under: HRA 8724

Total cap. contribution: EUR 5,000,000.00

Limited partner

Achenbach Buschhütten Holding GmbH

Siegener Str. 152

D 57223 Kreuztal

Legal form: Private limited company

Share capital: EUR 5,113,000.00

Share: EUR 5,000,000.00

Registered on: 25.10.1921

Reg. data: 57072 Siegen, HRB 1025

General partner

Achenbach Buschhütten Beteiligungs GmbH

Siegener Str. 152

D 57223 Kreuztal

Legal form: Private limited company

Share capital: EUR 25,000.00

Registered on: 26.07.2012

Reg. data: 57072 Siegen, HRB 9842

Shareholder

Achenbach Buschhütten GmbH & Co. KG

Siegener Str. 152

D 57223 Kreuztal

Legal form: Ltd partnership with priv. ltd.

company as general partner

Total cap. EUR 5,000,000.00

contribution:

Share: EUR 25,000.00

Registered on: 27.07.2012

Reg. data: 57072 Siegen, HRA 8724

Manager

Axel Barten

Im Gensterfeld 20

D 57078 Siegen

having sole power of representation

born: 02.12.1949

Profession: graduate engineer

Marital status: married

Manager:

André Barten

D 57072 Siegen

having sole power of representation

born: 23.10.1981

Proxy

Rolf Wilbers

D 51491 Overath

authorized to jointly represent the company

born: 11.07.1956

Proxy:

Bernd Schröter

Höhenweg 13

D 57339 Erndtebrück

authorized to jointly represent the company

born: 24.11.1974

Proxy:

Rainer Neukant

D 57223 Kreuztal

authorized to jointly represent the company

born: 17.02.1963

COMPANY HISTORY

27.07.2012 - 06.09.2012 Achenbach Buschhütten Walzwerkbau GmbH &

Co. KG

Siegener Str. 152

D 57223 Kreuztal

Ltd partnership with priv. ltd. company

as general partner

BUSINESS ACTIVITIES

· Provider of non-ferrous metal rolling mills and foil slitting machines for the non-ferrous metal and finishing industry. 

· Manufacturer of metal products n.e.c.

· Manufacturer of other general-purpose machinery n.e.c.

· Wholesaler of other machinery, equipment and supplies

· Wholesaler of non-ferrous ores, metals and metal semi-finished goods

PARTICIPATIONS

Shareholder:

Achenbach Buschhütten Beteiligungs GmbH

Siegener Str. 152

D 57223 Kreuztal

Legal form: Private limited company

Company Status: active

Share capital: EUR 25,000.00

Share: EUR 25,000.00

Reg. data: 26.07.2012

Local court 57072 Siegen

HRB 9842

FINANCIAL INFORMATION

Payment experience: within agreed terms

Negative information: We have no negative information at hand.

REAL ESTATE

Type of ownership: Tenant

Address Siegener Str. 152

D 57223 Kreuztal

Real Estate of: Achenbach Buschhütten Beteiligungs GmbH

Type of ownership: Tenant

Address Siegener Str. 152

D 57223 Kreuztal

Land register documents were not available.

BANKERS

COMMERZBANK, 57002 SIEGEN

Sort. code: 46040033

BIC: COBADEFF460

VOLKSBANK SIEGERLAND, 57011 SIEGEN

Sort. code: 46060040

BIC: GENODEM1SNS

WGZ BANK, 48136 MÜNSTER, WESTF

Sort. code: 40060000

BIC: GENODEMSXXX

UNICREDIT BANK - HYPOVEREINSBANK, 50443 KÖLN

Sort. code: 37020090

BIC: HYVEDEMM429

SPARKASSE SIEGEN, 57009 SIEGEN

Sort. code: 46050001

BIC: WELADED1SIE

FINANCIAL FIGURES

Financial year: 01.01. - 31.12.

Turnover: 2012 EUR 60,900,000.00

2013 EUR 85,500,000.00

further business figures:

Equipment: *EUR 2,400,000.00

Ac/ts receivable: *EUR 5,100,000.00

Liabilities: *EUR 7,800,000.00

Total numbers of vehicles: 5

- Passenger cars: 5

Employees: 320

- thereof permanent staff: 300

- Trainees: 20

The business figures marked with an asterisk are estimates based on average values in the line of business.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.58.86
UK Pound	1	Rs.98.82
Euro	1	Rs.80.72

INFORMATION DETAILS

Analysis Done by :	DIV
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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.