MIRA INFORM REPORT

Report Date :

14.10.2014

IDENTIFICATION DETAILS

Name :	IFM ELECTRONIC GMBH VERTRIEB DEUTSCHLAND

Registered Office :	Friedrichstr. 1, D 45128 Essen, Post Box: 10 18 33, D 45018 Essen

Country :	Germany

Date of Incorporation :	22.12.1977

Legal Form :	Private Limited Company

Line of Business :	Management of Holding Companies

No of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Moderate
Payment Behaviour :	Unknown
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

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

IFM ELECTRONIC GMBH VERTRIEB DEUTSCHLAND

Company Status: active

Friedrichstr. 1

D 45128 Essen

Post Box:

10 18 33, D 45018 Essen

Telephone:0201/2422-0

Telefax: 0201/2422-1200

Homepage: www.ifm.com

E-mail: info@ifm.com

VAT no.: DE119651782

Tax ID number: 111/5725/0014

CONCLUSION

Business relations are permissible.

LEGAL FORM Private limited company

Registered on: 22.12.1977

Commercial Register: Local court 45130 Essen

under: HRB 3607

Share capital: EUR 181,508.61

Shareholder:

ifm electronic gmbh

Friedrichstr. 1

D 45128 Essen

Post Box:

10 18 33, D 45018 Essen

Legal form: Private limited company

Share capital: EUR 82,000,000.00

Share: EUR 181,508.61

Registered on: 06.04.1970

Reg. data: 45130 Essen, HRB 1887

Profit transfer agreement

Manager:

Waldemar Friedmann

Auenstr. 1

D 82275 Emmering

having sole power of representation

born: 10.07.1953

Profession: Businessman

Marital status: married

Manager:

Volker Jahns

Landsberger Str. 58

D 45219 Essen

having sole power of representation

born: 05.05.1955

Profession: Businessman

Manager:

Thomas Stegl

D 73235 Weilheim

having sole power of representation

born: 02.11.1964

Proxy:

Helmut Fenzl

Hermann-von-Sicherer-Str. 10

D 81369 München