MIRA INFORM REPORT

Report Date :

26.11.2014

IDENTIFICATION DETAILS

Name :	SALZGITTER MANNESMANN INTERNATIONAL GESELLSCHAFT MITBESCHRÄNKTER HAFTUNG
Registered Office :	Schwannstr. 12, D 40476 Düsseldorf
Country :	Germany
Year of Establishments :	1980
Com. Reg. No.:	HRB 30081
Legal Form :	Private Limited Company
Line of Business :	· Wholesaler of Hot Rolled Flat Products, Cold Rolled Flat Products, Profiles/Long Products, Quality Steel/Diversification & Pipe-/Offshore Products Wholesaler of Iron Ores, Iron, Steel as well as Iron and Steel Semi-Finished Goods
No. of Employees	121

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

Salzgitter Mannesmann International Gesellschaft mitbeschränkter Haftung

Company address

Schwannstr. 12

D 40476 Düsseldorf

Telephone: 0211/4300-1

Telefax: 0211/4300-90

Homepage: www.salzgitter-mannesmann-international.de

E-mail: contact@szmh-group.com

VAT no

DE811545796

Company Status

active

Synthesis

LEGAL FORM Private limited company

Date of foundation: 1980

Shareholders'

agreement: 24.09.1980

Registered on: 30.09.1993

Commercial Register: Local court 40227 Düsseldorf

under: HRB 30081

Share capital: EUR 10,300,000.00

Shareholder

Salzgitter Mannesmann Handel Gesellschaft

mit beschränkter Haftung

Schwannstr. 12

D 40476 Düsseldorf

Post Box:

30 09 43, D 40409 Düsseldorf

Legal form: Private limited company

Share capital: EUR 23,600,000.00

Share: EUR 10,300,000.00

Registered on: 02.11.1949

Reg. data: 40227 Düsseldorf, HRB 8372

Control and profit transfer agreement

Manager

Heinz Groschke

D 40489 Düsseldorf

authorized to jointly represent the company

born: 03.08.1948

Profession: manager

Manager:

Dr. Gerd Schöler

Stauseebogen 109

D 45259 Essen

born: 09.01.1953

Profession: Businessman

Marital status: married

Proxy

Jörgen Franz Werner Hüster

D 45127 Essen

authorized to jointly represent the company

born: 11.09.1962

Proxy:

Burkhardt Rossow

D 40210 Düsseldorf

authorized to jointly represent the company

born: 03.12.1952

Proxy:

Jörg Winfried

D 41460 Neuss

authorized to jointly represent the company

born: 03.09.1959

Profession: Businessman

Proxy:

Dr. Dietmar Grotmann

D 31241 Ilsede

authorized to jointly represent the company

born: 01.04.1961

Proxy:

Ulf Christian Hüttmann

D 50667 Köln

authorized to jointly represent the company

born: 02.04.1970

Proxy:

Steffen Kraass

D 40476 Düsseldorf

authorized to jointly represent the company

born: 30.04.1967

Proxy:

Thomas Roßbach

D 50667 Köln

authorized to jointly represent the company

born: 05.03.1955

Proxy:

Albrecht von Schmieden

D 40210 Düsseldorf

authorized to jointly represent the company

born: 14.02.1943

Proxy:

Albrecht Theobald

D 40210 Düsseldorf

authorized to jointly represent the company

born: 27.09.1951

Proxy:

Stefan Müller

D 42549 Velbert

authorized to jointly represent the company

born: 16.01.1961

Proxy:

Thorsten Feldmann

D 47441 Moers

authorized to jointly represent the company

born: 21.02.1967

Proxy:

Patricia Schmied

D 40476 Düsseldorf

authorized to jointly represent the company

born: 16.04.1970

Proxy:

Stephan Puschwadt

D 40476 Düsseldorf

authorized to jointly represent the company

born: 18.04.1971

Proxy:

Frank Steffens

D 55437 Ockenheim

authorized to jointly represent the company

born: 07.11.1963

Proxy:

Robert Lenzen

D 40476 Düsseldorf

authorized to jointly represent the company

born: 25.11.1960

Proxy:

Phillip Meiser

D 40476 Düsseldorf

authorized to jointly represent the company

born: 02.11.1970

Further functions/participations of Heinz Groschke (Manager)

Manager:

SESTA Stahl GmbH

Schwannstr. 12

D 40476 Düsseldorf

Legal form: Private limited company

Share capital: EUR 51,129.19

Registered

on: 17.08.1993

Reg. data: 40227 Düsseldorf, HRB 29923

Manager:

Salzgitter Mannesmann Handel Gesellschaft

mit beschränkter Haftung

Schwannstr. 12

D 40476 Düsseldorf

Post Box:

30 09 43, D 40409 Düsseldorf

Legal form: Private limited company

Share capital: EUR 23,600,000.00

Registered

on: 02.11.1949

Reg. data: 40227 Düsseldorf, HRB 8372

Member of the Supervisory Board:

Salzgitter Flachstahl GmbH

Eisenhüttenstr. 99

D 38239 Salzgitter

Legal form: Private limited company

Share capital: EUR 51,000,000.00

Registered

on: 18.12.2000

Reg. data: 38100 Braunschweig, HRB 6609

Further functions/participations of Dr. Gerd Schöler (Manager)

Manager:

SESTA Stahl GmbH

Schwannstr. 12

D 40476 Düsseldorf

Legal form: Private limited company

Share capital: EUR 51,129.19

Registered

on: 17.08.1993

Reg. data: 40227 Düsseldorf, HRB 29923

Manager:

Salzgitter Mannesmann Handel Gesellschaft

mit beschränkter Haftung

Schwannstr. 12

D 40476 Düsseldorf

Post Box:

30 09 43, D 40409 Düsseldorf

Legal form: Private limited company

Share capital: EUR 23,600,000.00

Registered

on: 02.11.1949

Reg. data: 40227 Düsseldorf, HRB 8372

Member of the Supervisory Board:

Salzgitter Mannesmann Precision GmbH

Kissinger Weg

D 59067 Hamm

Legal form: Private limited company

Share capital: EUR 10,001,000.00

Registered

on: 29.04.2008

Reg. data: 47051 Duisburg, HRB 20198

COMPANY HISTORY

24.09.1980 - 30.09.1993 Preussag International Gesellschaft mit

beschränkter Haftung.

D 45657 Recklinghausen

Private limited company

30.09.1993 - 28.04.1998 Preussag International Gesellschaft mit

beschränkter Haftung

Schwannstr. 12

D 40476 Düsseldorf

Private limited company

28.04.1998 - 22.12.2004 Salzgitter International Gesellschaft

mit beschränkter Haftung

Schwannstr. 12

D 40476 Düsseldorf

Private limited company

BUSINESS ACTIVITIES

· Wholesaler of Hot Rolled Flat Products, Cold Rolled Flat Products, Profiles/Long Products, Quality Steel/Diversification & Pipe-/Offshore Products

Wholesaler of Iron Ores, Iron, Steel as well as Iron and Steel Semi-Finished Goods

FINANCIAL INFORMATION

Payment experience: in top condition

Negative information: We have no negative information at hand.

REAL ESTATE

Type of ownership: Tenant

Address Schwannstr. 12

D 40476 Düsseldorf

Land register documents were not available.

BANKERS

DEUTSCHE BANK, 40189 DÜSSELDORF

Sort. code: 30070010

BIC: DEUTDEDDXXX

LANDESBANK HESSEN-THÜRINGEN GIROZENTRALE NL. DÜSSELDORF, 40019

DÜSSELDORF

Sort. code: 30050000

BIC: WELADEDDXXX

FINANCIAL FIGURES

Financial year: 01.01. - 31.12.

Share capital: EUR 10,300,000.00

Employees: 121

Control and profit transfer agreement to:

Salzgitter Mannesmann Handel Gesellschaft

mit beschränkter Haftung

Schwannstr. 12

D 40476 Düsseldorf

Post Box:

30 09 43, D 40409 Düsseldorf

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.92
UK Pound	1	Rs.97.12
Euro	1	Rs.76.93

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%)

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.