MIRA INFORM REPORT

 

 

Report Date :

25.11.2014

 

IDENTIFICATION DETAILS

 

Name :

SAURER COMPONENTS GMBH

 

 

Registered Office :

Maria-Merian-Str. 8, D 70736 Fellbach

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

14.04.1994

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

·         Manufacture of chucking tools and other machine tool components

·         Wholesale of other machinery

·         Other service activities

 

 

No of Employees :

420

 

 

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 & address

 

SAURER COMPONENTS GMBH

 

 Company Status:          active

                                    Maria-Merian-Str. 8

                                    D 70736 Fellbach

Telephone:                    0711/58521-0

Telefax:                         0711/58521-59

Homepage:                    www.components.oerlikontextile.com

E-mail:                          sales@texparts.de

 

VAT no.:                       DE189017423

 

 

CONCLUSION

 

Business relations are permissible.

 

 

Company summary

 

 Legal Form                   Private limited company

 Date of foundation:        14.04.1994

 Shareholders'

 agreement:                   14.04.1994

 Registered on:              26.01.2007

 Commercial Register:    Local court 70190 Stuttgart

 under:                          HRB 722008

 

 Share capital:                          EUR             51,400.00

 

 

 Shareholder

 

                      Saurer Germany GmbH & Co. KG

                      Leverkuser Str. 65

                      D 42897 Remscheid

                      Legal form: Ltd partnership with priv. ltd.

                      company as general partner

                      Total cap.         EUR         40,000,100.00

                      contribution:

                      Share:             EUR             51,400.00

                      Registered on: 21.12.2012

                      Reg. data: 42103 Wuppertal, HRA 23613

                      Control and profit transfer agreement

Manager

 

                      Jörg Spahlinger

                      D 97723 Oberthulba

                      born: 11.01.1959

 Manager:

                      Daniel Christian Lippuner

                      CH  Feusisberg

                      born: 19.07.1969

                      Nationality: Swiss

 

 

Proxy

 

                      Karl-Heinz Mattig

                      D 70734 Fellbach

                      authorized to jointly represent the company

                      born: 07.01.1959

 Proxy:

                      Ullrich Heussner

                      D 97502 Euerbach

                      authorized to jointly represent the company

                      born: 11.03.1958

 Proxy:

                      Dipl.-Wirt. Ingenieu Volker Brand

                      D 48143 Münster

                      authorized to jointly represent the company

                      born: 17.03.1959

 Proxy:

                      Roland Merkle

                      D 70173 Stuttgart

                      authorized to jointly represent the company

                      born: 05.05.1958

 

 Further functions/participations of Jörg Spahlinger (Manager)

 Manager:

                      Saurer Germany Management GmbH

                      Leverkuser Str. 65

                      D 42897 Remscheid

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         21.12.2012

                      Reg. data:  42103 Wuppertal, HRB 24688

 Proxy:

                      Saurer Germany GmbH & Co. KG

                      Leverkuser Str. 65

                      D 42897 Remscheid

                      Legal form: Ltd partnership with priv. ltd.

                                  company as general partner

                      Total cap.         EUR         40,000,100.00

                      contribution:

                      Registered

                      on:         21.12.2012

                      Reg. data:  42103 Wuppertal, HRA 23613

 

 Further functions/participations of Daniel Christian Lippuner

 (Manager)

 Manager:

                      Saurer Germany Management GmbH

                      Leverkuser Str. 65

                      D 42897 Remscheid

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered

                      on:         21.12.2012

                      Reg. data:  42103 Wuppertal, HRB 24688

 Proxy:

                      Saurer Germany GmbH & Co. KG

                      Leverkuser Str. 65

                      D 42897 Remscheid

                      Legal form: Ltd partnership with priv. ltd.

                                  company as general partner

                      Total cap.         EUR         40,000,100.00

                      contribution:

                      Registered

                      on:         21.12.2012

                      Reg. data:  42103 Wuppertal, HRA 23613

 

 

COMPANY HISTORY

 

 14.04.1994 - 26.03.2001  Prine Machinery GmbH

                          D 41061 Mönchengladbach

                          Private limited company

 26.03.2001 - 01.04.2004  Xaloy GmbH

                          Leverkuser Str. 65

                          D 42897 Remscheid

                          Private limited company

 02.04.2004 - 19.12.2006  Shelf No. 1 GmbH

                          Landgrafenstr. 45

                          D 41069 Mönchengladbach

                          Private limited company

 19.12.2006 - 26.01.2007  Accotex-TEXParts GmbH AG

                          Mönchengladbach, HRB 8280

                          Landgrafenstr. 45

                          D 41069 Mönchengladbach

                          Private limited company

 26.01.2007 - 14.08.2007  Accotex-TEXParts GmbH

                          Maria-Merian-Str. 8

                          D 70736 Fellbach

                          Private limited company

 14.08.2007 - 01.10.2008  Oerlikon Accotex Texparts GmbH

                          Maria-Merian-Str. 8

                          D 70736 Fellbach

                          Private limited company

 01.10.2008 - 12.07.2013  Oerlikon Textile Components GmbH

                          Maria-Merian-Str. 8

                          D 70736 Fellbach

                          Private limited company

 

 

BUSINESS ACTIVITIES

 

 Main industrial sector

 28493   Manufacture of chucking tools and other machine tool

 components

 

 Secondary industrial sector

 46692   Wholesale of other machinery

96090   Other service activities n. e. c.

 

 

BRANCHES AND FACTORIES

 

 Branch:

                      Saurer Components GmbH

                      Gustav-Stresemann-Weg 1

                      D 48155 Münster

                      TEL.: 0251/609380

                      FAX.: 0251/60938138

 Branch:

                      Oerlikon Textile Components GmbH

                      Am Sandradl 18

                      D 92526 Oberviechtach

                      Reg. entry: 06.08.2008

 Branch:

                      Saurer Components GmbH

                      Fuldaer Str. 19

                      D 97762 Hammelburg

                      TEL.: 09732/87224

                      FAX.: 09732/914515

 

 

Payment experience:     within agreed terms

 

Negative information:      We have no negative information at hand.

 

 

REAL ESTATE

 

 Type of ownership:        Tenant

 Address                       Maria-Merian-Str. 8

                                    D 70736 Fellbach

 

 Land register documents were not available.

 

 

 BANKERS

 

 Principal bank

 DEUTSCHE BANK, 70049 STUTTGART

 Sort. code: 60070070

 BIC: DEUTDESSXXX

 

 

 FINANCIAL FIGURES

 

 Turnover:            2012               EUR         98,443,670.00

 Profit:              2012               EUR          3,710,412.00

 Equipment:                              EUR          1,332,485.00

 Ac/ts receivable:                       EUR         36,922,043.00

 Liabilities:                            EUR          7,361,995.00

 Employees:                                                    420

 - Trainees:                                                    20

 

 Control and profit transfer agreement to:

                      Saurer Germany GmbH & Co. KG

                      Leverkuser Str. 65

                      D 42897 Remscheid

 

 

BALANCE SHEETS

 

 Balance sheet ratios 01.01.2012 - 31.12.2012

 Equity ratio [%]:                 54.85

 Liquidity ratio:                   1.70

 Return on total capital [%]:       8.79

 

 Balance sheet ratios 01.01.2011 - 31.12.2011

 Equity ratio [%]:                 52.42

 Liquidity ratio:                   1.68

 Return on total capital [%]:       3.28

 

 Balance sheet ratios 01.01.2010 - 31.12.2010

 Equity ratio [%]:                 48.66

 Liquidity ratio:                   1.19

 Return on total capital [%]:      -3.71

 

 Balance sheet ratios 01.01.2009 - 31.12.2009

 Equity ratio [%]:                 51.59

 Liquidity ratio:                   1.31

 Return on total capital [%]:     -21.88

 

 Equity ratio

 The equity ratio indicates the portion of the equity as compared

 to the total capital. The higher the equity ratio, the better the

 economic stability (solvency) and thus the financial autonomy of

 a company.

 

 Liquidity ratio

 The liquidity ratio shows the proportion between adjusted

 receivables and net liabilities. The higher the ratio, the lower

 the company's financial dependancy from external creditors.

 

 Return on total capital

 The return on total capital shows the efficiency and return on

 the total capital employed in the company. The higher the return

 on total capital, the more economically does the company work

 with the invested capital.

 

 

 Type of balance

 sheet:                                   Company balance sheet

 

 Financial year:                          01.01.2012 - 31.12.2012

 

 ASSETS                                  EUR         68,369,102.73

  Fixed assets                           EUR         15,440,287.60

   Intangible assets                     EUR          1,940,456.56

    Concessions, licences, rights        EUR            845,762.49

    Goodwill                             EUR          1,094,694.07

   Tangible assets                       EUR         13,499,831.04

    Land / similar rights                EUR            134,752.31

    Plant / machinery                    EUR         10,975,078.04

    Other tangible assets / fixtures and

    fittings                             EUR          1,332,484.72

    Advance payments made / construction

    in progress                          EUR          1,057,515.97

  Current assets                         EUR         52,921,726.17

   Stocks                                EUR         15,624,201.09

    Raw materials, consumables and

    supplies                             EUR          2,805,943.99

    Finished goods / work in progress    EUR         12,818,257.10

   Accounts receivable                   EUR         36,922,042.59

    Trade debtors                        EUR          7,989,945.98

    Amounts due from related companies   EUR         26,416,075.58

    Other debtors and assets             EUR          2,516,021.03

   Liquid means                          EUR            375,482.49

  Remaining other assets                 EUR              7,088.96

   Accruals (assets)                     EUR              7,088.96

 

 LIABILITIES                             EUR         68,369,102.73

  Shareholders' equity                   EUR         49,309,811.74

   Capital                               EUR             51,400.00

    Subscribed capital (share capital)   EUR             51,400.00

   Reserves                              EUR         49,258,411.74

    Capital reserves                     EUR         49,258,411.74

  Provisions                             EUR         11,697,295.87

   Pension provisions and comparable

   provisions                            EUR          4,015,319.67

   Other / unspecified provisions        EUR          7,681,976.20

  Liabilities                            EUR          7,361,995.12

   Other liabilities                     EUR          7,361,995.12

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          3,900,309.32

    Liabilities from received advance

    payments                             EUR            788,260.27

    Liabililties due to related companiesEUR          1,672,620.70

    Unspecified other liabilities        EUR          1,000,804.83

 

 PROFIT AND LOSS ACCOUNT (cost of sales method) according to Comm.

 Code (HGB)

  Sales                                  EUR         98,443,669.69

  Manufacturing costs                    EUR         79,456,371.84

  Gross result on sales                  EUR         18,987,297.85

  Distribution costs                     EUR         12,846,671.52

  General administration expenses        EUR            587,005.25

  Other operating income                 EUR          2,313,921.51

  Other operating expenses               EUR          3,877,249.52

  Operating result from continuing

  operations                             EUR          3,990,293.07

  Interest result (+/-)                  EUR           -232,869.38

   Interest and similar income           EUR             50,932.20

   Interest and similar expenses         EUR            283,801.58

  Financial result (+/-)                 EUR           -232,869.38

  Result from ordinary operations (+/-)  EUR          3,757,423.69

  Expenses for transfer of profits to a

  parent company                         EUR          3,710,412.22

  Income tax / refund of income tax (+/-)EUR                 -4.57

  Other taxes / refund of taxes          EUR            -47,006.90

  Tax (+/-)                              EUR            -47,011.47

  Annual surplus / annual deficit        EUR                  0.00

 

 Type of balance

 sheet:                                   Company balance sheet

 

 Financial year:                          01.01.2011 - 31.12.2011

 

 ASSETS                                  EUR         69,520,552.41

  Fixed assets                           EUR         14,268,744.03

   Intangible assets                     EUR              1,820.00

    Concessions, licences, rights        EUR              1,820.00

   Tangible assets                       EUR         14,266,924.03

    Land / similar rights                EUR            174,485.99

    Plant / machinery                    EUR         11,964,455.09

    Other tangible assets / fixtures and

    fittings                             EUR          1,564,414.37

    Advance payments made / construction

    in progress                          EUR            563,568.58

  Current assets                         EUR         55,249,692.82

   Stocks                                EUR         14,999,400.77

    Raw materials, consumables and

    supplies                             EUR          2,756,851.48

    Finished goods / work in progress    EUR         12,242,549.29

   Accounts receivable                   EUR         40,239,285.78

    Trade debtors                        EUR          8,112,981.54

    Amounts due from related companies   EUR         31,120,383.57

    Other debtors and assets             EUR          1,005,920.67

   Liquid means                          EUR             11,006.27

  Remaining other assets                 EUR              2,115.56

   Accruals (assets)                     EUR              2,115.56

 

 LIABILITIES                             EUR         69,520,552.41

  Shareholders' equity                   EUR         49,309,811.74

   Capital                               EUR             51,400.00

    Subscribed capital (share capital)   EUR             51,400.00

   Reserves                              EUR         49,258,411.74

    Capital reserves                     EUR         49,258,411.74

  Provisions                             EUR         12,355,351.09

   Pension provisions and comparable

   provisions                            EUR          2,644,758.63

   Other / unspecified provisions        EUR          9,710,592.46

  Liabilities                            EUR          7,855,389.58

   Other liabilities                     EUR          7,855,389.58

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR          3,794,140.60

    Liabilities from received advance

    payments                             EUR          1,020,749.71

    Liabililties due to related companiesEUR          1,840,241.74

    Unspecified other liabilities        EUR          1,200,257.53

 

 PROFIT AND LOSS ACCOUNT (cost of sales method) according to Comm.

 Code (HGB)

  Sales                                  EUR        108,894,335.40

  Manufacturing costs                    EUR         92,463,199.88

  Gross result on sales                  EUR         16,431,135.52

  Distribution costs                     EUR         12,274,716.10

  General administration expenses        EUR            660,597.36

  Other operating income                 EUR          2,539,292.28

  Other operating expenses               EUR          4,548,553.45

  Operating result from continuing

  operations                             EUR          1,486,560.89

  Interest result (+/-)                  EUR            -52,614.91

   Interest and similar income           EUR            210,342.63

   Interest and similar expenses         EUR            262,957.54

  Financial result (+/-)                 EUR            -52,614.91

  Result from ordinary operations (+/-)  EUR          1,433,945.98

  Expenses for transfer of profits to a

  parent company                         EUR          1,391,207.59

  Income tax / refund of income tax (+/-)EUR              5,891.93

  Other taxes / refund of taxes          EUR            -48,630.32

  Tax (+/-)                              EUR            -42,738.39

  Annual surplus / annual deficit        EUR                  0.00

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.78

UK Pound

1

Rs.96.78

Euro

1

Rs.76.59                           

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

SMN

 

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.