MIRA INFORM REPORT

 

 

Report Date :

24.11.2014

 

IDENTIFICATION DETAILS

 

Name :

BITZER KÜHLMASCHINENBAU GMBH

 

 

Registered Office :

Eschenbrünnlestr.15 D 71065 Sindelfingen

 

 

Country :

Germany

 

 

Date of Incorporation :

29.07.1972

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

·         Manufacture of non-domestic cooling and ventilation equipment

·         Wholesale of other equipment and accessories for machinery and technical supplies

 

 

No. of Employees :

595

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Germany

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

GERMANY - ECONOMIC OVERVIEW

 

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

 

Source : CIA

Company name and address

 

BITZER KÜHLMASCHINENBAU GMBH

 

 Company Status:           active

Eschenbrünnlestr. 15

D 71065 Sindelfingen

Telephone:07031/932-0

Telefax:  07031/932-147

Homepage: www.bitzer.de

E-mail:   mail@bitzer.de

 

 VAT no.:             DE812161588

 

 

 CONCLUSION

 

 Business relations are permissible.

 

 

Company summary

 

 LEGAL FORM              Private limited company

 Date of foundation:        1934

 Shareholders'

 agreement:                   08.06.1972

 Registered on:              29.07.1972

 Commercial Register:    Local court 70190 Stuttgart

 under:                          HRB 240845

 

 Share capital:                          EUR         32,000,000.00

 

 Shareholder:

                      BITZER SE

                      Eschenbrünnlestr. 15

                      D 71065 Sindelfingen

                      Legal form: European Company (SE)

                      Share capital:     EUR        120,000,000.00

                      Share:             EUR         32,000,000.00

                      Registered on: 11.09.2008

                      Reg. data: 70190 Stuttgart, HRB 727317

                      Control and profit transfer agreement

 Manager:

                      Senator h.c. Peter Schaufler

                      D 70176 Stuttgart

                      having sole power of representation

                      born: 28.11.1940

                      Marital status: married

 Manager:

                      Christiane Schaufler-Münch

                      Eschenbrünnlestr. 15

                      D 71065 Sindelfingen

                      having sole power of representation

                      born: 25.12.1934

                      née: Münch

                      Profession: Businessman

                      Marital status: married

 Manager:

                      Jürgen Martin Kleiner

                      D 70771 Leinfelden-Echterdingen

                      born: 16.11.1960

 Manager:

                      Dr. Christian Klaus Arthur Gustav Wahlers

                      D 71088 Holzgerlingen

                      born: 07.12.1967

 Manager:

                      Christian Jürgen Wehrle

                      D 73207 Plochingen

                      born: 23.07.1959

 Manager:

                      Rainer Meinhard Große-Kracht

                      D 71032 Böblingen

                      born: 01.03.1970

 Proxy:

                      Volker Stamer

                      D 71083 Herrenberg

                      authorized to jointly represent the company

                      born: 06.05.1967

 Proxy:

                      Ingo Smit

                      D 70173 Stuttgart

                      authorized to jointly represent the company

                      born: 23.10.1969

 Proxy:

                      Helmut Meyer

                      D 72639 Neuffen

                      authorized to jointly represent the company

                      born: 08.09.1960

 Proxy:

                      Marcus Loistl

                      D 70182 Stuttgart

                      authorized to jointly represent the company

                      born: 19.10.1969

 Proxy:

                      Ingrid Bossert-Spiegelhalder

                      D 72070 Tübingen

                      authorized to jointly represent the company

                      born: 22.12.1957

 Proxy:

                      Albrecht Egon Höpfer

                      D 72218 Wildberg

                      authorized to jointly represent the company

                      born: 08.05.1953

 Proxy:

                      Kai Oliver Kowalewsky

                      D 71149 Bondorf

                      authorized to jointly represent the company

                      born: 11.01.1968

 Proxy:

                      Bernd Wohld

                      D 72127 Kusterdingen

                      authorized to jointly represent the company

                      born: 04.11.1964

 Proxy:

                      Jochen Endreß

                      D 71254 Ditzingen

                      authorized to jointly represent the company

                      born: 21.07.1970

 Proxy:

                      Bettina Bond

                      D 74369 Löchgau

                      authorized to jointly represent the company

                      born: 03.07.1966

 Proxy:

                      Klaus Hossner

                      D 71106 Magstadt

                      authorized to jointly represent the company

                      born: 21.03.1951

 Proxy:

                      Frank Hartmann

                      D 73760 Ostfildern

                      authorized to jointly represent the company

                      born: 07.04.1974

 

 

 Further functions/participations of Senator h.c. Peter Schaufler

 (Manager)

 Manager:

                      BITZER Kühlmaschinenbau Schkeuditz GmbH

                      Industriestr. 48

                      D 04435 Schkeuditz

                      Legal form: Private limited company

                      Share capital:     EUR         14,000,000.00

                      Registered

                      on:         03.04.1991

                      Reg. data:  04275 Leipzig, HRB 2507

 Manager:

                      BITZER Grundstücksverwaltungs GmbH

                      Eschenbrünnlestr. 15

                      D 71065 Sindelfingen

                      Legal form: Private limited company

                      Share capital:     EUR            500,000.00

                      Registered

                      on:         16.08.2011

                      Reg. data:  70190 Stuttgart, HRB 738435

 Manager:

                      BITZER Invertertechnologie GmbH

                      Eschenbrünnlestr. 15

                      D 71065 Sindelfingen

                      Legal form: Private limited company

                      Share capital:     EUR             50,000.00

                      Registered

                      on:         21.05.2014

                      Reg. data:  70190 Stuttgart, HRB 748972

 

 Managing Director:

                      BITZER SE

                      Eschenbrünnlestr. 15

                      D 71065 Sindelfingen

                      Legal form: European Company (SE)

                      Share capital:     EUR        120,000,000.00

                      Registered

                      on:         11.09.2008

                      Reg. data:  70190 Stuttgart, HRB 727317

 Shareholder:

                      BITZER SE

                      Eschenbrünnlestr. 15

                      D 71065 Sindelfingen

                      Legal form: European Company (SE)

                      Share capital:     EUR        120,000,000.00

                      Share:      100.000 %

                      Registered

                      on:         11.09.2008

                      Reg. data:  70190 Stuttgart, HRB 727317

 

 Further functions/participations of Christiane Schaufler-Münch

 (Manager)

 Manager:

                      BITZER Kühlmaschinenbau Schkeuditz GmbH

                      Industriestr. 48

                      D 04435 Schkeuditz

                      Legal form: Private limited company

                      Share capital:     EUR         14,000,000.00

                      Registered

                      on:         03.04.1991

                      Reg. data:  04275 Leipzig, HRB 2507

 

 Further functions/participations of Jürgen Martin Kleiner

 (Manager)

 Manager:

                      BITZER Kühlmaschinenbau Schkeuditz GmbH

                      Industriestr. 48

                      D 04435 Schkeuditz

                      Legal form: Private limited company

                      Share capital:     EUR         14,000,000.00

                      Registered

                      on:         03.04.1991

                      Reg. data:  04275 Leipzig, HRB 2507

 Manager:

                      BITZER Grundstücksverwaltungs GmbH

                      Eschenbrünnlestr. 15

                      D 71065 Sindelfingen

                      Legal form: Private limited company

                      Share capital:     EUR            500,000.00

                      Registered

                      on:         16.08.2011

                      Reg. data:  70190 Stuttgart, HRB 738435

 Manager:

                      BITZER Invertertechnologie GmbH

                      Eschenbrünnlestr. 15

                      D 71065 Sindelfingen

                      Legal form: Private limited company

                      Share capital:     EUR             50,000.00

                      Registered

                      on:         21.05.2014

                      Reg. data:  70190 Stuttgart, HRB 748972

 Managing Director:

                      BITZER SE

                      Eschenbrünnlestr. 15

                      D 71065 Sindelfingen

                      Legal form: European Company (SE)

                      Share capital:     EUR        120,000,000.00

                      Registered

                      on:         11.09.2008

                      Reg. data:  70190 Stuttgart, HRB 727317

 

 Further functions/participations of Dr. Christian Klaus Arthur

 Gustav Wahlers (Manager)

 Manager:

                      BITZER Kühlmaschinenbau Schkeuditz GmbH

                      Industriestr. 48

                      D 04435 Schkeuditz

                      Legal form: Private limited company

                      Share capital:     EUR         14,000,000.00

                      Registered

                      on:         03.04.1991

                      Reg. data:  04275 Leipzig, HRB 2507

 Manager:

                      BITZER Grundstücksverwaltungs GmbH

                      Eschenbrünnlestr. 15

                      D 71065 Sindelfingen

                      Legal form: Private limited company

                      Share capital:     EUR            500,000.00

                      Registered

                      on:         16.08.2011

                      Reg. data:  70190 Stuttgart, HRB 738435

 Manager:

                      BITZER Invertertechnologie GmbH

                      Eschenbrünnlestr. 15

                      D 71065 Sindelfingen

                      Legal form: Private limited company

                      Share capital:     EUR             50,000.00

                      Registered

                      on:         21.05.2014

                      Reg. data:  70190 Stuttgart, HRB 748972

 

Managing Director:

                      BITZER SE

                      Eschenbrünnlestr. 15

                      D 71065 Sindelfingen

                      Legal form: European Company (SE)

                      Share capital:     EUR        120,000,000.00

                      Registered

                      on:         11.09.2008

                      Reg. data:  70190 Stuttgart, HRB 727317

 

 Further functions/participations of Christian Jürgen Wehrle

 (Manager)

 Manager:

                      BITZER Kühlmaschinenbau Schkeuditz GmbH

                      Industriestr. 48

                      D 04435 Schkeuditz

                      Legal form: Private limited company

                      Share capital:     EUR         14,000,000.00

                      Registered

                      on:         03.04.1991

                      Reg. data:  04275 Leipzig, HRB 2507

 Manager:

                      BITZER Grundstücksverwaltungs GmbH

                      Eschenbrünnlestr. 15

                      D 71065 Sindelfingen

                      Legal form: Private limited company

                      Share capital:     EUR            500,000.00

                      Registered

                      on:         16.08.2011

                      Reg. data:  70190 Stuttgart, HRB 738435

 Manager:

                      BITZER Invertertechnologie GmbH

                      Eschenbrünnlestr. 15

                      D 71065 Sindelfingen

                      Legal form: Private limited company

                      Share capital:     EUR             50,000.00

                      Registered

                      on:         21.05.2014

                      Reg. data:  70190 Stuttgart, HRB 748972

 

 Managing Director:

                      BITZER SE

                      Eschenbrünnlestr. 15

                      D 71065 Sindelfingen

                      Legal form: European Company (SE)

                      Share capital:     EUR        120,000,000.00

                      Registered

                      on:         11.09.2008

                      Reg. data:  70190 Stuttgart, HRB 727317

 

 Further functions/participations of Rainer Meinhard Große-Kracht

 (Manager)

 Manager:

                      BITZER Kühlmaschinenbau Schkeuditz GmbH

                      Industriestr. 48

                      D 04435 Schkeuditz

                      Legal form: Private limited company

                      Share capital:     EUR         14,000,000.00

                      Registered

                      on:         03.04.1991

                      Reg. data:  04275 Leipzig, HRB 2507

 Manager:

                      BITZER Invertertechnologie GmbH

                      Eschenbrünnlestr. 15

                      D 71065 Sindelfingen

                      Legal form: Private limited company

                      Share capital:     EUR             50,000.00

                      Registered

                      on:         21.05.2014

                      Reg. data:  70190 Stuttgart, HRB 748972

 

Managing Director:

                      BITZER SE

                      Eschenbrünnlestr. 15

                      D 71065 Sindelfingen

                      Legal form: European Company (SE)

                      Share capital:     EUR        120,000,000.00

                      Registered

                      on:         11.09.2008

                      Reg. data:  70190 Stuttgart, HRB 727317

 

 COMPANY HISTORY

 

 08.06.1972 - 31.12.1996  Bitzer Kühlmaschinenbau GmbH & Co.KG

                          Eschenbrünnlestr. 15

                          D 71065 Sindelfingen

                          Ltd partnership with priv. ltd. company

                          as general partner

 

 

 RESIGNED ACTING PERSONS AND SHAREHOLDERS

 

 04.01.2012 - 17.07.2013  Manager

                          Michael Heinrich Bauer

                          D 74679 Weißbach

 21.02.2011 - 24.11.2011  Manager

                          Hans-Paul Meurer

                          D 72760 Reutlingen

 

 

 BUSINESS ACTIVITIES

 

 Main industrial sector

 28250   Manufacture of non-domestic cooling and ventilation equipment

 

46693   Wholesale of other equipment and accessories for machinery and technical supplies

 

 

 BRANCHES AND FACTORIES

 

 Branch:

                      BITZER Kühlmaschinenbau GmbH

                      Etzwiesenstr. 44-46

                      D 72108 Rottenburg

 Branch:

                      BITZER Kühlmaschinenbau GmbH

                      Mercedesstr. 24-28

                      D 72108 Rottenburg

 

 

 PARTICIPATIONS

 

 Shareholder:

                      BITZER Invertertechnologie GmbH

                      Eschenbrünnlestr. 15

                      D 71065 Sindelfingen

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR             50,000.00

                      Share:             EUR             50,000.00

                      Reg. data:  21.05.2014

                                  Local court 70190 Stuttgart

                                  HRB 748972

 

 

 FINANCIAL INFORMATION

 

 Payment experience:  cash discount/within agreed terms

 

 Negative information:We have no negative information at hand.

 

 

 REAL ESTATE

 

 Type of ownership:        Tenant

 Address                       Eschenbrünnlestr. 15

                                    D 71065 Sindelfingen

 

 Land register documents were not available.

 

 

 BANKERS

 

 KREISSPARKASSE BÖBLINGEN, 71043 SINDELFINGEN

 Sort. code: 60350130

 BIC: BBKRDE6BXXX

 COMMERZBANK SINDELFINGEN, 71043 SINDELFINGEN

 Sort. code: 60340071

 BIC: COBADEFFXXX

 DEUTSCHE BANK, 70049 STUTTGART

 Sort. code: 60070070

 BIC: DEUTDESSXXX

 DZ BANK, 70049 STUTTGART

 Sort. code: 60060000

 BIC: GENODESGXXX

 UNICREDIT BANK - HYPOVEREINSBANK, 71001 BÖBLINGEN

 Sort. code: 60320291

 BIC: HYVEDEMM858

 LANDESBANK BADEN-WÜRTTEMBERG/BADEN-WÜRTTEMBERGISCHE BANK, 70144

 STUTTGART

 Sort. code: 60050101

 BIC: SOLADEST600

 

 

 FINANCIAL FIGURES

 

 Financial year:      01.01. - 31.12.

 Share capital:                          EUR         32,000,000.00

 Equipment:                              EUR          3,609,458.00

 Ac/ts receivable:                       EUR         49,879,600.00

 Liabilities:                            EUR         30,911,640.00

 Employees:                                                    595

 

 Control and profit transfer agreement to:

 

BITZER SE

Eschenbrünnlestr. 15

D 71065 Sindelfingen

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.85

UK Pound

1

Rs.97.01

Euro

1

Rs.77.62

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NIS

 

               

RATING EXPLANATIONS

 

RATING

STATUS

PROPOSED CREDIT LINE

 

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

 

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

 

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

 

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

 

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

 

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

 

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

Credit not recommended

 

--

NB

New Business

--

 

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

 

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

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

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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