MIRA INFORM REPORT

 

 

Report Date :

20.10.2014

 

IDENTIFICATION DETAILS

 

Name :

JOSEPH VÖGELE AKTIENGESELLSCHAFT

 

 

Registered Office :

Joseph-Vögele-Str. 1, D 67067 Ludwigshafen

 

 

Country :

Germany

 

 

Date of Incorporation :

01.01.1836

 

 

Com. Reg. No.:

HRB 62108

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

·         Manufacture of construction machinery

·         Wholesale of mining, construction and civil engineering machinery

 

 

No. of Employees :

1,000

 

 

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 :

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

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

 

JOSEPH VÖGELE AKTIENGESELLSCHAFT

 

 Company Status:         active

                                    Joseph-Vögele-Str. 1

                                    D 67067 Ludwigshafen

                                    Telephone:0621/8105-0

                                    Telefax:  0621/8105-469

                                    Homepage: www.voegele.info

                                    E-mail:   mail@voegele.info

 

 VAT no.:                       DE143873481

 

 

 CONCLUSION

 

 Business relations are permissible.

 

 

Company summary

 

 LEGAL FORM              Public limited company

 Date of foundation:      01.01.1836

 Registered on:             30.06.2010

 Commercial Register:   Local court 67061 Ludwigshafen

 under:                          HRB 62108

 

 Share capital:                          EUR         10,200,000.00

 

 Shareholder:

                      Wirtgen Road Technologies GmbH

                      Reinhard-Wirtgen-Str. 2

                      D 53578 Windhagen

                      Legal form: Private limited company

                      Share capital:     EUR          2,000,000.00

                      Registered on: 09.11.2012

                      Reg. data: 56410 Montabaur, HRB 23312

                      Profit transfer agreement

 Member of the Board of Directors:

                      Bernhard Düser

                      D 69469 Weinheim

                      authorized to jointly represent the company

                      born: 25.02.1954

                      Profession: graduate engineer

 Member of the Board of Directors:

                      Dr.-Ing. Christian Pawlik

                      Ginsterweg 2

                      D 67434 Neustadt

                      authorized to jointly represent the company

                      born: 10.11.1958

                      Profession: Engineer

                      Marital status: married

 President of the Supervisory Board:

                      Stefan Wirtgen

                      Klaushof 1

                      D 53560 Vettelschoß

                      born: 01.07.1970

                      Profession: Engineer

                      Marital status: married

 Vice-president of the Supervisory Board:

                      Dr. Günther Robert Hähn

                      D 53639 Königswinter

                      born: 02.09.1957

                      Marital status: unknown

 Member of the Supervisory Board:

                      Rainer Otto

                      D 53578 Windhagen

                      born: 31.01.1957

 Member of the Supervisory Board:

                      Thomas Jakob

                      D 68809 Neulußheim

 Member of the Supervisory Board:

                      Lothar Wahl

                      Im Vogelsang 18

                      D 56281 Emmelshausen

                      born: 15.02.1942

                      Marital status: unknown

 Member of the Supervisory Board:

                      Hans-Jürgen Zimmermann

                      Walldorfer Str. 9

                      D 68723 Oftersheim

                      born: 03.12.1959

                      Marital status: unknown

 Proxy:

                      Franz Welsch

                      D 67152 Ruppertsberg

                      authorized to jointly represent the company

                      born: 07.02.1951

 Proxy:

                      Stefan Tamble

                      F 57320 Bousonville

                      authorized to jointly represent the company

                      born: 17.07.1964

                      Nationality: French

 Proxy:

                      Martin Buschmann

                      D 67435 Neustadt

                      authorized to jointly represent the company

                      born: 19.05.1965

 Proxy:

                      Michael Dudek

                      D 76131 Karlsruhe

                      authorized to jointly represent the company

                      born: 26.07.1972

 

 

COMPANY HISTORY

 

 01.01.1920 - 30.06.2010  Joseph Vögele Aktiengesellschaft

                          Neckarauer Str. 168-228

                          D 68163 Mannheim

                          Public limited company

 

 

 BUSINESS ACTIVITIES

 

 Main industrial sector

 28290   Manufacture of other general-purpose machinery

28922   Manufacture of construction machinery

4663    Wholesale of mining, construction and civil engineering machinery

 

 Secondary industrial sector

 96090   Other service activities n. e. c.

 

 

 FINANCIAL INFORMATION

 

 Payment experience:    within periods customary in this trade

 

 Negative information:   We have no negative information at hand.

 

 

 REAL ESTATE

 

 Type of ownership:   proprietor

 Share:                100.00 %

 Address              Neckarauer Str. 168-228

                      D 68163 Mannheim

 

 Type of ownership:   Tenant

 Address              Joseph-Vögele-Str. 1

                      D 67067 Ludwigshafen

 

 Land register documents were not available.

 

 

 BANKERS

 

 COMMERZBANK VORMALS DRESDNER BANK, 68008 MANNHEIM

 Sort. code: 67080050

 BIC: DRESDEFF670

 

 

 FINANCIAL FIGURES

 

 Financial year:                                      01.01. - 31.12.

 Employees:                                                  1,000

 

 Profit transfer agreement to:

                      Wirtgen Road Technologies GmbH

                      Reinhard-Wirtgen-Str. 2

                      D 53578 Windhagen

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.62

UK Pound

1

Rs.99.12

Euro

1

Rs.78.89       

 

INFORMATION DETAILS

 

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.