MIRA INFORM REPORT

Report Date :

28.10.2014

IDENTIFICATION DETAILS

Name :	OLDHAM

Registered Office :	Zone Industrielle Est, Rue Mathieu Orfila, 62027 Arras Cedex

Country :	France

Financials (as on) :	31.12.2012

Date of Incorporation :	December 2000

Com. Reg. No.:	0 433 953 379

Legal Form :	Simplified Joint Stock Company With Single Associate

Line of Business :	Manufacture of scientific and technical instrumentation (2651B)

No of Employees :	240

RATING & COMMENTS

MIRA’s Rating :

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)

France

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

FRANCE - ECONOMIC OVERVIEW

The French economy is diversified across all sectors. The government has partially or fully privatized many large companies, including Air France, France Telecom, Renault, and Thales. However, the government maintains a strong presence in some sectors, particularly power, public transport, and defense industries. With at least 82 million foreign tourists per year, France is the most visited country in the world and maintains the third largest income in the world from tourism. France's leaders remain committed to a capitalism in which they maintain social equity by means of laws, tax policies, and social spending that mitigate economic inequality. France's real GDP stagnated in 2012 and 2013. The unemployment rate (including overseas territories) increased from 7.8% in 2008 to 10.2% in 2013. Youth unemployment in metropolitan France decreased from a high of 25.4% in the fourth quarter of 2012 to 22.8% in the fourth quarter of 2013. Lower-than-expected growth and high spending have strained France's public finances. The budget deficit rose sharply from 3.3% of GDP in 2008 to 7.5% of GDP in 2009 before improving to 4.1% of GDP in 2013, while France's public debt rose from 68% of GDP to nearly 94% over the same period. In accordance with its EU obligations, France is targeting a deficit of 3.6% of GDP in 2014 and 2.8% in 2015. The administration of President Francois HOLLANDE has implemented greater state support for employment, the separation of banks' traditional deposit taking and lending activities from more speculative businesses, increasing the top corporate and personal tax rates, including a temporary 75% tax on wages over one million euros, and hiring an additional 60,000 teachers during his five-year term. In January 2014 HOLLANDE proposed a “Responsibility Pact” aimed primarily at lowering labor costs in return for businesses’ commitment to create jobs. Despite stagnant growth and fiscal challenges, France's borrowing costs have declined in recent years because investors remain attracted to the liquidity of France’s bonds.

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

Name

OLDHAM

SIRET

433 953 379 00024

Company summary

EUR VAT Number	FR63433953379
Activity (APE)	Manufacture of scientific and technical instrumentation (2651B)	Legal form	Simplified Joint Stock Company with Single Associate
Phone	04 42 46 10 46	RCS Registration	RCS Arras 0 433 953 379
Fax	04 42 46 10 42	Share capital	20,064,825 Euros
Address	Oldham Zone Industrielle Est Rue Mathieu Orfila 62027 Arras Cedex	Incorporated Date	12/2000
Nationality	France	Status	Economically active

DIRECTORS/MANAGEMENT

Directors

Name	Mme. MARKIN ADAM
Manager position	President	Date of birth	07/02/1966
Place of birth	NELSON(ROYAUME-UNI)
Type	Individual	Name at birth

Name	M. FOURLEGNIE THIBAULT
Manager position	Managing director	Date of birth	14/12/1977
Place of birth	LILLE (59)
Type	Individual	Name at birth

Previous Directors

Manager position	Title and name	Date of Birth/Place of Birth
President	M COLIN ARLOTT	8/31/1960 - HOUNSLOW GRANDE BRETAGNE
President	THOMAS MICHAEL CUNNINGHAM	8/25/1971 - YOUGSTOWN(ETATS-UNIS D'AMERIQUE)
President	THOMAS MICHAEL CUNNINGHAM	8/25/1971 - YOUGSTOWN(ETATS-UNIS D'AMERIQUE)
President	M THIBAULT FOURLEGNIE	12/14/1977 - LILLE (59)
President	Mme ADAM MARKIN	2/6/1966 - NELSON(ROYAUME-UNI)
President	M JEAN SANTRAINE	- - SOISSONS
Administrator	M PHILIPPE DASSONVILLE	6/27/1971 - DENAIN
Administrator	FINANCIERE ODESSA	- - -
President	M THOMAS MICHAEL CUNNINGHAM	8/25/1971 - YOUGSTOWN(ETATS-UNIS D'AMERIQUE)

NEGATIVE INFORMATION

Judgements

Collective procedures

No judgment information for the company

Social security, pension funds preferential rights | Tax office preferential rights

Preferential rights details and history

Summary of preferential rights

Company monitored since	12/08/2009
Status of Monitoring	No social security and tax office preferential right to date

Social security, pension funds preferential rights

Number of preferential rights	0
Total amount	-
Due remaining amount	-
Date of last preferential right	-

SHARE & SHARE CAPITAL INFORMATION

Shareholders

Company Name	SIREN	Last account	Turnover
OLDHAM-WINTER GMBH	HRB 2644	31/12/2012	-
INDUSTRIAL SCIENTIFIC CORP	US44855457	-	40 865 000 $

GROUP STRUCTURE & AFFILIATED COMPANIES

Ultimate Holding Company

Company Name

Company number

INDUSTRIAL SCIENTIFIC CORPORATION

Group Structure

Company Name	SIREN	Parts	Last account published
INDUSTRIAL SCIENTIFIC CORPORATION	-	-	-
INDUSTRIAL SCIENTIFIC FRANCE	489995761	100%	31/12/2013
OLDHAM	433953379	Majority	31/12/2012
INDUSTRIAL SCIENTIFIC OLDHAM CH ...	-	100%	-
WINTER GASWARNANLAGEN	-	100%	-
OLDHAM DO BRESIL	-	100%	-
INDUSTRIAL SCIENTIFIC OLDHAM CS ...	-	100%	-
INDUSTRIAL SCIENTIFIC UK LTD	04144959	100%	31/12/2012

FINANCIAL INFORMATION

Trading to Date	12/31/2012	12/31/2011	12/31/2010
Turnover	42,051,253 €	40,144,511 €	34,405,313 €
Gross Operating Surplus	4.74 % Turnover	5.23 % Turnover	3.52 % Turnover
Shareholders’ equity	26,346,879 €	19,706,448 €	16,834,526 €
Net result	6,640,430 €	2,871,922 €	547,762 €
Employees	200 to 249 employees	-	-

Accounts

Active Account | Passive Account | Account Results

Synthesized Accounts

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Annual Accounts	31/12/2012	31/12/2011	31/12/2010
Account period (month)	12	12	12
Account Type	Normal	Normal	Normal
Date of capture	24/10/2013	31/10/2012	07/09/2011
Activity Code	2651B	2651B	2651B
Employees	240	245	243

Active account

Annual Accounts	31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Capital not called	0	0%	0	0%	0	0	0%
Total fixed assets	27,787,917	22.8%	22,632,874	9.4%	20,690,811	94,901	29181.0%
- Intangible assets	19,646,727	0.5%	19,555,752	41.7%	13,800,619	6,326	310471.1%
- Tangible assets	2,790,002	2.3%	2,727,226	7.3%	2,542,358	34,903	7893.6%
- Financial assets	5,351,188	0.0%	5,349,896	23.0%	4,347,834	5,504	97123.6%
Net current assets	24,095,776	7.3%	22,464,873	0.4%	22,378,340	724,615	3225.3%
- Stocks	6,909,670	-0.5%	6,941,344	33.1%	5,216,198	132,605	5110.7%
- Advanced payments	27,058	7.3%	183,462	-52.1%	382,906	0	0%
- Receivables	13,374,789	6.8%	12,521,431	-3.5%	12,977,635	307,188	4253.9%
- Securities and cash	3,784,259	34.3%	2,818,636	-25.9%	3,801,601	122,597	2986.7%
- Prepaid expenses	-	-	-	-	-	374	-
Accounts of regularization	467,872	-42.4%	811,629	127.4%	356,870	0	0%
Total Assets	52,351,565	14.0%	45,909,373	5.7%	43,426,021	864,784	5953.7%

Passive Account

Annual Accounts	31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Shareholders' equity	26,346,879	33.7%	19,706,448	17.1%	16,834,526	376,895	6890.5%
Share capital	14,520,000	0%	14,520,000	0%	14,520,000	80,000	18050.0%
Other capital resources	0	0%	0	0%	0	0	0%
Risk Provisions	1,669,784	-5.5%	1,767,446	40.4%	1,258,427	0	0%
Liabilities	24,334,902	-0.4%	24,435,478	-3.5%	25,333,067	370,773	6463.3%
- Financial liabilities	4,877	-64.3%	13,659	-36.2%	21,425	58,378	-91.6%
- Advanced payments received	59,251	-3.4%	61,355	-28.9%	86,260	0	0%
- Trade account payables	16,275,468	23.5%	13,179,023	22.2%	10,786,090	108,623	14883.4%
- Tax and social liabilities	3,498,705	-2.8%	3,600,978	-3.7%	3,739,793	128,351	2625.9%
- Other debts and fixed assets liabilities	4,212,573	-42.4%	7,318,167	-29.9%	10,440,626	5,375	78273.5%
Account regularization	284,028	8.3%	262,296	1.3%	258,873	0	0%
Total liabilities	52,351,564	14.0%	45,909,373	5.7%	43,426,021	864,784	5953.7%

Results

Annual Accounts	31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Sales of Goods	49,385,644	12.3%	43,974,098	19.2%	36,885,542	1,100,990	4385.6%
Net turnover	42,051,253	4.7%	40,144,511	16.7%	34,405,313	1,016,445	4037.1%
- of which net export turnover	17,624,641	12.1%	15,728,010	28.8%	12,214,410	26,441	66556.5%
Operating charges	43,076,619	3.8%	41,515,976	13.4%	36,608,898	1,104,948	3798.5%
Operating profit/loss	6,309,025	156.7%	2,458,122	788.6%	276,644	36,226	17315.7%
Financial income	1,093,370	-32.4%	1,617,967	114.9%	752,988	1,395	78277.8%
Financial charges	649,946	-50.6%	1,316,534	23.2%	1,068,708	2,901	22304.2%
Financial profit/loss	443,424	47.1%	301,433	195.5%	-315,720	-131	338591.6%
Pretax net operating income	6,752,449	144.7%	2,759,555	7162.0%	-39,076	33,229	20221.0%
Extraordinary income	2,384	-90.2%	24,325	-98.5%	1,668,508	572	316.8%
Extraordinary charges	49,956	-58.9%	121,495	-91.4%	1,418,187	478	10351.0%
Extraordinary profit/loss	-47,572	51.0%	-97,170	-138.8%	250,321	0	0%
Net result	6,640,430	131.2%	2,871,922	424.3%	547,762	48,788	13510.8%

Display parameter
Currency	Euro	Kilo Euro

	Normal Account		31/12/2012		31/12/2011		31/12/2010
	Months		12		12		12

Accounts – Active

Current Assets | Equalization accounts | Reference

Grand Total - Passive Accounts (I to IV)

		31/12/2012		31/12/2011		31/12/2010
Grand Total (I to VI)	Net	52,351,565	14.0%	45,909,373	5.7%	43,426,021
Gross	CO	65,791,384	2.9%	63,936,335	1.1%	63,212,808
Amortisation	1A	13,439,819	-25.4%	18,026,962	-8.9%	19,786,787

Non declared distributed capital (I)

		31/12/2012		31/12/2011		31/12/2010
Non declared distributed capital (I)	AA3	0	0%	0	0%	0
Gross	AA	0	0%	0	0%	0

Active fixed asset (II)

		31/12/2012		31/12/2011		31/12/2010
Total Active fixed asset (II)	Net	27,787,917	22.8%	22,632,874	9.4%	20,690,811
Gross	BJ	39,757,453	1.3%	39,242,662	1.4%	38,712,785
Amortisation	BK	11,969,536	-27.9%	16,609,788	-7.8%	18,021,974

Intangilble fixed assets

			31/12/2012		31/12/2011		31/12/2010
	Start-up cost	Net	0	0%	0	0%	0
	Gross	AB	0	0%	0	0%	0
	Amortisation	AC	0	0%	0	0%	0
	R & D expenses	Net	0	0%	0	0%	0
	Gross	CX	0	0%	0	0%	0
	Amortisation	AE	0	0%	0	0%	0
	Distributorships, patents	Net	0	0%	0	0%	0
	Gross	AF	0	0%	0	0%	0
	Amortisation	AG	0	0%	0	0%	0
	Goodwill	Net	19,410,616	0%	19,410,616	42.4%	13,633,616
	Gross	AH	19,410,616	0%	19,410,616	0%	19,410,616
	Amortisation	AI	0	0%	5,000,000	-13.4%	5,777,000
	Other intangible fixed assets	Net	236,111	62.7%	145,136	-13.1%	167,003
	Gross	AJ	1,232,495	16.9%	1,054,228	6.3%	992,042
	Amortisation	AK	996,384	9.6%	909,092	10.2%	825,039
	Pre-payments and downpayments	Net	0	0%	0	0%	0
	Gross	AL	0	0%	0	0%	0
	Amortisation	AM	0	0%	0	0%	0
Sub Total Intangible Assets		Net	19,646,727	0.5%	19,555,752	41.7%	13,800,619

Tangilble fixed assets

		31/12/2012		31/12/2011		31/12/2010
Lands	Net	29,728	0%	29,728	0%	29,728
Gross	AN	29,728	0%	29,728	0%	29,728
Amortisation	AO	0	0%	0	0%	0
Buildings	Net	802,533	5.0%	764,560	20.5%	634,253
Gross	AP	4,252,382	1.8%	4,175,225	5.2%	3,967,207
Amortisation	AQ	3,449,849	1.1%	3,410,665	2.3%	3,332,954
Plant	Net	1,331,047	-4.3%	1,391,549	5.0%	1,325,548
Gross	AR	6,570,869	2.5%	6,411,144	2.6%	6,247,050
Amortisation	AS	5,239,822	4.4%	5,019,595	2.0%	4,921,502
Other tangible fixed assets	Net	533,419	3.2%	516,866	-4.2%	539,274
Gross	AT	2,076,475	1.4%	2,046,877	4.2%	1,964,328
Amortisation	AU	1,543,056	0.9%	1,530,011	7.4%	1,425,054
Fixed assets in construction	Net	93,275	280.4%	24,523	80.9%	13,555
Gross	AV	93,275	280.4%	24,523	80.9%	13,555
Amortisation	AW	0	0%	0	0%	0
Advances and payments on account	Net	0	0%	0	0%	0
Gross	AX	0	0%	0	0%	0
Amortisation	AY	0	0%	0	0%	0
Sub Total Tangible asset	Net	2,790,002		2,727,226		2,542,358

Financial assets

		31/12/2012		31/12/2011		31/12/2010
Associates at equity	Net	0	0%	0	0%	0
Gross	CS	0	0%	0	0%	0
Amortisation	CT	0	0%	0	0%	0
Other participations	Net	5,306,331	0%	5,306,331	23.2%	4,306,331
Gross	CU	6,046,756	0%	6,046,756	0%	6,046,756
Amortisation	CV	740,425	0%	740,425	-57.5%	1,740,425
Inter-company receivables	Net	0	0%	0	0%	0
Gross	BB	0	0%	0	0%	0
Amortisation	BC	0	0%	0	0%	0
Other investment securities	Net	0	0%	0	0%	0
Gross	BD	0	0%	0	0%	0
Amortisation	BE	0	0%	0	0%	0
Loans	Net	0	0%	0	0%	0
Gross	BF	0	0%	0	0%	0
Amortisation	BG	0		0		0
Other financial assets	Net	44,857	3.0%	43,565	5.0%	41,503
Gross	BH	44,857	3.0%	43,565	5.0%	41,503
Amortisation	BI	0	0%	0	0%	0
Sub Total Financial Assets		5,351,188		5,349,896		4,347,834

Current Assets (III)

		31/12/2012		31/12/2011		31/12/2010
Total Assets	Net	24,095,776	7.3%	22,464,873	0.4%	22,378,340
Gross	CJ	25,566,060	7.1%	23,882,046	-1.1%	24,143,154
Amortisation	CK	1,470,284	3.7%	1,417,173	-19.7%	1,764,814

Stocks

		31/12/2012		31/12/2011		31/12/2010
Raw materials	Net	3,387,460	13.1%	2,994,066	15.0%	2,603,211
Gross	BL	4,328,845	13.4%	3,817,090	12.6%	3,391,337
Amortisation	BM	941,385	14.4%	823,024	4.4%	788,126
Work in progress (goods)	Net	99,953	-59.9%	249,236	63.4%	152,499
Gross	BN	99,953	-59.9%	249,236	63.4%	152,499
Amortisation	BO	0	0%	0	0%	0
Work in progress (services)	Net	0	0%	12,893	-13.4%	14,888
Gross	BP	0	0%	12,893	-13.4%	14,888
Amortisation	BQ	0	0%	0	0%	0
Semi-finished and finished products	Net	2,217,415	-7.8%	2,405,803	51.0%	1,593,222
Gross	BR	2,319,418	-11.2%	2,610,818	49.7%	1,743,819
Amortisation	BS	102,003	-50.2%	205,015	36.1%	150,597
Goods for resale	Net	1,204,842	-5.8%	1,279,346	50.1%	852,378
Gross	BT	1,204,842	-5.8%	1,279,346	50.1%	852,378
Amortisation	BU	0	0%	0	0%	0
Sub Total Stocks	Net	6,909,670	-0.5%	6,941,344	33.1%	5,216,198

Advance payments to suppliers

		31/12/2012		31/12/2011		31/12/2010
Advance payments to suppliers	Net	27,058	-85.3%	183,462	-52.1%	382,906
Gross	BV	27,058	-85.3%	183,462	-52.1%	382,906
Amortisation	BW	0	0%	0	0%	0

Debtors

		31/12/2012		31/12/2011		31/12/2010
Trade accounts receivable	Net	12,742,905	6.3%	11,989,372	-0.6%	12,062,303
Gross	BX	13,087,922	6.4%	12,296,627	-4.0%	12,806,515
Amortisation	BY	345,017	12.3%	307,255	-58.7%	744,212
Other debtors	Net	460,896	2.7%	448,931	-42.1%	774,839
Gross	BZ	542,775	2.3%	530,810	-38.0%	856,718
Amortisation	CA	81,879	0%	81,879	0%	81,879
Capital subscribed and called up	Net	0	0%	0	0%	0
Gross	CB	0	0%	0	0%	0
Amortisation	CC	0	0%	0	0%	0
Sub Total Debtors	Net	13,203,801	6.2%	12,438,303	-3.1%	12,837,142

Divers

		31/12/2012		31/12/2011		31/12/2010
Investment securities	Net	0	0%	0	0%	0
Gross	CD	0	0%	0	0%	0
Amortisation	CE	0	0%	0	0%	0
Cash and cash equivalents	Net	3,784,259	34.3%	2,818,636	-25.9%	3,801,601
Gross	CF	3,784,259	34.3%	2,818,636	-25.9%	3,801,601
Amortisation	CG	0	0%	0	0%	0
Sub Total Divers	Net	3,784,259	34.3%	2,818,636	-25.9%	3,801,601

Prepaid expenses

		31/12/2012		31/12/2011		31/12/2010
Prepaid expenses	Net	170,988	105.7%	83,128	-40.8%	140,493
Gross	CH	170,988	105.7%	83,128	-40.8%	140,493
Amortisation	CI	0	0%	0	0%	0

Equalization accounts (IV to VI)

		31/12/2012		31/12/2011		31/12/2010
Multi-period charges	CW3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Premiums on redemption of bonds	CM3	0	0%	0	0%	0
Gross		0	0%	0	0%	0
Currency differential gain	CN3	467,872	-42.4%	811,629	127.4%	356,870
Gross		467,872	-42.4%	811,629	127.4%	356,870

References

		31/12/2012		31/12/2011		31/12/2010
Due within one year	CP	0	0%	1,800	0%	0
Due after one year	CR	0	0%	41,765	0.6%	41,503

Display parameter
Currency	Euro	Kilo Euro

Accounts – Passive

Grand Total - Passive Accounts (I to IV)

			31/12/2012		31/12/2011		31/12/2010
	Grand Total (I to V)	EE	52,351,564	14.0%	45,909,373	5.7%	43,426,021

Shareholder Equity (I)

		31/12/2012		31/12/2011		31/12/2010
Total shareholders' equity (Total I)	DL	26,346,879	33.7%	19,706,448	17.1%	16,834,526
Equity and shareholders' equity	DA	14,520,000	0%	14,520,000	0%	14,520,000
Issue and merger premiums	DB	9,004,762	0%	9,004,762	0%	9,004,762
Revaluation differentials	DC	0	0%	0	0%	0
Of which equity differential	EK	0	0%	0	0%	0
Legal reserve	DD	471,350	0%	471,350	0%	471,350
Statutory or contractual reserve	DE	0	0%	0	0%	0
Special regulated reserves	DF	0	0%	0	0%	0
Of which special reserve of provisions for current fluctuation	B1	0	0%	0	0%	0
Other reserves	DG	0	0%	0	0%	0
Of which reserve for buying originals works from alive artists	EJ	0		0	0%	0
Profits or losses brought forward	DH	-4,289,663	40.1%	-7,161,586	7.1%	-7,709,348
Profit or loss for the period	DI	6,640,430	131.2%	2,871,922	424.3%	547,762
Investment grants	DJ	0	0%	0	0%	0
Special tax-allowable reserves	DK	0	0%	0	0%	0

Other capital resources (II)

		31/12/2012		31/12/2011		31/12/2010
Total other capital resources (Total II)	DO	0	0%	0	0%	0
Income from participating securities	DM	0	0%	0	0%	0
Conditional loans	DN	0	0%	0	0%	0

Provisions for risks and charges (III)

		31/12/2012		31/12/2011		31/12/2010
Total provisions for risks and charges (Total III)	DR	1,669,784	-5.5%	1,767,446	40.4%	1,258,427
Risk provisions	DP	817,872	-26.4%	1,111,628	60.5%	692,714
Reserves for charges	DQ	851,912	29.9%	655,818	15.9%	565,713

Liabilities (IV)

		31/12/2012		31/12/2011		31/12/2010
Total Liabilities (Total IV)	EC	24,334,902	-0.4%	24,435,478	-3.5%	25,333,067
Convertible debentures	DS	0	0%	0	0%	0
Other debentures	DT	0	0%	0	0%	0
Bank loans and liabilities	DU	4,877	43.6%	3,397	8.6%	3,128
Sundry loans and financial liabilities	DV	0	0%	10,262	-43.9%	18,297
Of which participating loans	EI	0	0%	0	0%	0
Advance payments received for current orders	DW	59,251	-3.4%	61,355	-28.9%	86,260
Trade accounts payables	DX	16,275,468	23.5%	13,179,023	22.2%	10,786,090
Tax and social security liabilities	DY	3,498,705	-2.8%	3,600,978	-3.7%	3,739,793
Fixed asset liabilities	DZ	0	0%	0	0%	0
Other debts	EA	4,212,573	-42.4%	7,318,167	-29.9%	10,440,626

Translation loss (V)

			31/12/2012		31/12/2011		31/12/2010
	Translation loss (Total V)	ED	0	0%	0	0%	0

Equalization accounts

			31/12/2012		31/12/2011		31/12/2010
	Deferred income	EB	284,028	8.3%	262,296	1.3%	258,873

References

		31/12/2012		31/12/2011		31/12/2010
Of which tax-allowable reserve	EF	0	0%	0	0%	0
Deferred income and liabilities	EG	0	0%	24,374,123	-3.4%	25,228,900
Of which current bank facilities	EH	0	0%	3,397	8.6%	3,128

Display parameter
Currency	Euro	Kilo Euro

Result Account

1- Operating result(I-II)

			31/12/2012		31/12/2011		31/12/2010
	Operating result (Total I-II)	GG	6,309,025	156.7%	2,458,122	788.6%	276,644

2 -Financial result(V - VI)

			31/12/2012		31/12/2011		31/12/2010
	Financial result (Total V-VI)	GV	443,424	47.1%	301,433	195.5%	-315,720

3 -Pre-tax net operating income result(I - VI)

			31/12/2012		31/12/2011		31/12/2010
	Pre-tax net operating income (Total I-II+II-IV+V-VI)	GW	6,752,449	144.7%	2,759,555	7162.0%	-39,076

4 -Extraordinary result(VII-VIII)

			31/12/2012		31/12/2011		31/12/2010
	Extraordinary result (Total VII-VIII)	HI	-47,572	51.0%	-97,170	-138.8%	250,321

Profit or loss

			31/12/2012		31/12/2011		31/12/2010
	Profit or loss	HN	6,640,430	131.2%	2,871,922	424.3%	547,762

Total Income (I+III+V+VII)

			31/12/2012		31/12/2011		31/12/2010
	Total Income (I+III+V+VII)	HL	50,481,398	10.7%	45,616,390	16.1%	39,307,038

Total charges (Total II+IV+VI+VIII+IX+X)

			31/12/2012		31/12/2011		31/12/2010
	Total charges (Total II+IV+VI+VIII+IX+X)	HM	43,840,967	2.6%	42,744,468	10.3%	38,759,275

Operating income(I)

			31/12/2012		31/12/2011		31/12/2010
	Total operating income (Total I)	FR	49,385,644	12.3%	43,974,098	19.2%	36,885,542

Operating income (details)

		31/12/2012		31/12/2011		31/12/2010
Sale of goods for resale	FC	0	0%	0	0%	0
France	FA	0	0%	0	0%	0
Export	FB	0	0%	0	0%	0
Sale of goods produced	FF	32,450,134	4.9%	30,943,069	19.7%	25,855,892
France	FD	16,209,811	-1.3%	16,426,376	13.4%	14,480,972
Export	FE	16,240,323	11.9%	14,516,693	27.6%	11,374,920
Sale of services	FI	9,601,119	4.3%	9,201,442	7.6%	8,549,421
France	FG	8,216,801	2.8%	7,990,125	3.6%	7,709,931
Export	FH	1,384,318	14.3%	1,211,317	44.3%	839,490
Net turnover	FL	42,051,253	4.7%	40,144,511	16.7%	34,405,313
France	FJ	24,426,612	0.0%	24,416,501	10.0%	22,190,903
Export	FK	17,624,641	12.1%	15,728,010	28.8%	12,214,410
Stocked production	FM	-453,576	-1024.8%	49,046	114.3%	-342,828
Self-constructed assets	FN	303,870	11.3%	273,133	-36.1%	427,478
Operating grants	FO	807	-60.0%	2,020	0%	0
Release of reserves and provisions	FP	7,408,186	115.4%	3,439,316	49.8%	2,296,253
Other income	FQ	75,104	13.7%	66,072	-33.5%	99,325

Operating charges(II)

			31/12/2012		31/12/2011		31/12/2010
	Total operating charges (Total II)	GF	43,076,619	3.8%	41,515,976	13.4%	36,608,898

Exploitation charges

		31/12/2012		31/12/2011		31/12/2010
Purchase of goods for resale	FS	0	0%	0	0%	0
Change in stocks of goods for resale	FT	0	0%	0	0%	0
Purchase of raw materials	FU	14,205,599	-0.8%	14,324,513	33.1%	10,764,799
Change in stocks of raw materials	FV	-613,165	69.7%	-2,026,746	-365.0%	-435,818
Other external purchases and charges	FW	11,104,354	0.4%	11,057,064	31.3%	8,419,260
Tax, duty and similar payments	FX	792,729	-4.7%	831,847	8.0%	770,316
Payroll	FY	10,148,042	1.8%	9,972,381	2.0%	9,776,883
Social security costs	FZ	4,272,149	1.4%	4,211,697	5.7%	3,983,682

Depreciation

		31/12/2012		31/12/2011		31/12/2010
Depreciation of fixed assets	GA	876,913	10.2%	795,471	-15.1%	937,166
Amortisation of fixed assets	GB	0	0%	0	0%	0
Depreciation/amortisation of current assets	GC	1,242,326	-8.3%	1,354,246	-16.8%	1,628,215
Provisions for risks and charges	GD	846,094	116.9%	390,105	-21.2%	495,052

Other charges

			31/12/2012		31/12/2011		31/12/2010
	Other charges	GE	201,578	-66.7%	605,397	124.8%	269,343

Operating charges (III-IV)

		31/12/2012		31/12/2011		31/12/2010
Share of joint-venture transferred to other partner(s) (Total III)	GH	0	0%	0	0%	0
Share of joint venture transferred from other partner(s) (Total IV)	GI	0	0%	0	0%	0

Financial income(V)

		31/12/2012		31/12/2011		31/12/2010
Total financial income (Total V)	GP	1,093,370	-32.4%	1,617,967	114.9%	752,988
Share financial income	GJ	123,522	24.5%	99,218	60.8%	61,693
Other investment income & capitalised receivables	GK	0	0%	0	0%	0
Other interest and similar income	GL	14,922	100.7%	7,434	-9.9%	8,251
Released provisions and transferred charges	GM	811,628	-40.2%	1,356,870	171.4%	500,000
Exchange gains	GN	143,298	-7.2%	154,445	-15.6%	183,044
Net income from disposal of investment securities	GO	0	0%	0	0%	0

Financial Charge (VI)

		31/12/2012		31/12/2011		31/12/2010
Total financial charge (Total VI)	GU	649,946	-50.6%	1,316,534	23.2%	1,068,708
Financial reserves and provisions	GQ	467,872	-42.4%	811,628	127.4%	356,870
Interest and similar charges	GR	57,417	-72.0%	205,372	-23.5%	268,571
Exchange losses	GS	124,657	-58.4%	299,534	-32.4%	443,267
Net loss from disposal of investment securities	GT	0	0%	0	0%	0

Extraordinary income(VII)

		31/12/2012		31/12/2011		31/12/2010
Total extraordinary income (Total VII)	HD	2,384	-90.2%	24,325	-98.5%	1,668,508
Extraordinary operating income	HA	1,500	1150.0%	120	-99.9%	90,771
Extraordinary income from capital transactions	HB	884	-96.3%	24,205	-46.2%	45,001
Released provisions and transferred charges	HC	0	0%	0	0%	1,532,736

Extraordinary charges(VIII)

		31/12/2012		31/12/2011		31/12/2010
Total extraordinary charges (Total VIII)	HH	49,956	-58.9%	121,495	-91.4%	1,418,187
Extraordinary operating charges	HE	12,272	294.7%	3,109	-99.7%	1,165,867
Extraordinary charges from capital transactions	HF	37,684	-68.2%	118,386	-53.1%	252,320
Extraordinary reserves and provisions	HG	0	0%	0	0%	0

Employee profit sharing(IX)

			31/12/2012		31/12/2011		31/12/2010
	Employee profit sharing (Total IX)	HJ	0	0%	0	0%	0

Tax on profits(X)

			31/12/2012		31/12/2011		31/12/2010
	Tax on profits (Total X)	HK	64,446	130.8%	-209,537	37.7%	-336,518

References

		31/12/2012		31/12/2011		31/12/2010
Of which equipment leases	HP	0	0%	1,768	-98.3%	106,059
Of which property leases	HQ	0	0%	0	0%	0
Of which transferred charges	A1	0	0%	624,586	117.0%	287,789
Of which trader's own contributions	A2	0	0%	0	0%	0
Of which royalties on licences and patents (income)	A3	0	0%	0	0%	0
Of which royalties on licences and patents (charges)	A4	0	0%	25,433	-73.2%	95,055

Display parameter
Currency	Euro	Kilo Euro

Other incomes tax return forms
Reserve for depreciation | Provisions included in balance sheet | State deadlines claims and debts at the end of period
Table allocation results and other information

Fixed Assets
Grand Total Fixed Assets (I to IV)

		31/12/2012		31/12/2011		31/12/2010
Gross value at begin of period	OG	0	0%	0	0%	0
Increasess due to revaluation	OH	0	0%	0	0%	0
Decreasess, acquisitions, creations, contributions	OJ	0	0%	0	0%	0
Decreasess by budget item transfer	OK1	0	0%	0	0%	0
Decreasess by transfers	OK2	0	0%	562,597	0%	0
Gross value at the end of period	OL	0	0%	39,242,661	0%	0

Research and development Charge (Total I)

		31/12/2012		31/12/2011		31/12/2010
Gross value at begin of period	CZ	0	0%	0	0%	0
Increasess due to revaluation	KB	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	KC	0	0%	0	0%	0
Decreasess by budget item transfer	C01	0	0%	0	0%	0
Decreasess by transfers	C02	0	0%	0	0%	0
Gross value at the end of period	D0	0	0%	0	0%	0

Other budget item from Intangible fixed assets(Total II)

		31/12/2012		31/12/2011		31/12/2010
Gross value at begin of period	KD	0	0%	20,402,658	0%	0
Increasess due to revaluation	KE	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	KF	0	0%	62,186	0%	0
Decreasess by budget item transfer	LV1	0	0%	0	0%	0
Decreasess by transfers	LV2	0	0%	0	0%	0
Gross value at the end of period	LW	0	0%	20,464,844	0%	0

Tangible fixed assets (Total III)

		31/12/2012		31/12/2011		31/12/2010
Gross value at begin of period	LN	0	0%	12,221,867	0%	0
Increasess due to revaluation	LO	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	LP	0	0%	1,028,226	0%	0
Decreasess by budget item transfer	NG1	0	0%	0	0%	0
Decreasess by transfers	NG2	0	0%	562,597	0%	0
Gross value at the end of period	NH	0	0%	12,687,496	0%	0

Financial assets (Total IV)

		31/12/2012		31/12/2011		31/12/2010
Gross value at begin of period	LQ	0	0%	6,088,259	0%	0
Increasess due to revaluation	LR	0	0%	0	0%	0
Increasess, acquisitions, creations, contributions	LS	0	0%	2,062	0%	0
Decreasess by budget item transfer	NJ1	0	0%	0	0%	0
Decreasess by transfers	NJ2	0	0%	0	0%	0
Gross value at the end of period	NK	0	0%	6,090,321	0%	0

Reserve For Depreciation

Situation and movement of reserve for depreciation
Grand total (I-II-III)

			31/12/2012		31/12/2011		31/12/2010
	Reserve for depreciation value at begin of period	0N	0	0%	0	0%	0
Increases		0P	0	0%	0	0%	0
Decreasess		0Q	0	0%	0	0%	0
	Reserve for depreciation value at the end of period	0R	0	0%	0	0%	0

Research and development charge (Total I)

			31/12/2012		31/12/2011		31/12/2010
	Reserve for depreciation value at begin of period	CY	0	0%	0	0%	0
Increases		PB	0	0%	0	0%	0
Decreasess		PC	0	0%	0	0%	0
	Decreasess by budget item transfer	PD	0	0%	0	0%	0

Other intangible assets (Total II)

			31/12/2012		31/12/2011		31/12/2010
	Reserve for depreciation value at begin of period	PE	909,092	10.2%	825,039	0%	0
Increases		PF	113,616	35.2%	84,054	0%	0
Decreasess		PG	26,324	0%	0	0%	0
	Decreasess by budget item transfer	PH	996,384	9.6%	909,093	0%	0

Total fixed assets amotisation(Total III)

			31/12/2012		31/12/2011		31/12/2010
	Reserve for depreciation value at begin of period	QU	9,960,272	2.9%	9,679,510	0%	0
Increases		QV	763,297	7.3%	711,418	0%	0
Decreases		QW	490,841	14.0%	430,656	0%	0
	Decreasess by budget item transfer	QX	10,232,728	2.7%	9,960,272	0%	0

Movements during period affecting charge allocated over several period

Charges à répartir ou frais d'émission d'emprunt

			31/12/2012		31/12/2011		31/12/2010
	Gross value at begin of period	Z91	0	0%	0	0%	0
Increases		Z92	0	0%	0	0%	0
Depreciation of fixed assets during period		Z9	0	0%	0	0%	0
	Decreasess by budget item transfer	B1	0	0%	0	0%	0

Premium refund of obligations

			31/12/2012		31/12/2011		31/12/2010
	Net value at begining of period	SP1	0	0%	0	0%	0
Increases		SP2	0	0%	0	0%	0
Depreciation of fixed assets during period		SP	0	0%	0	0%	0
	Net value at the end of period	SR	0	0%	0	0%	0

Provisions included in balance sheet
Grand Total (I-II-III)

			31/12/2012		31/12/2011		31/12/2010
	Value at begining of period	7C	0	0%	0	0%	12,101,728
Increases		UB	0	0%	0	0%	2,170,137
Decreases		UC	0	0%	0	0%	3,731,199
	Value at the end of period	UD	0	0%	0	0%	10,540,666

Includes Total allocations

Operating	UE	0%	0%
Financial	UG	0%	0%
Exceptional	UJ	0%	0%

Includes Total Withdrawal

Operating	UF	0%	0%
Financial	UH	0%	0%
Exceptional	UK	0%	0%

Total regulated provisions (Total I)

			31/12/2012		31/12/2011		31/12/2010
	Value at begining of period	3Z	0	0%	0	0%	0
Increases		TS	0	0%	0	0%	0
Decreases		TT	0	0%	0	0%	0
	Value at the end of period	TU	0	0%	0	0%	0

Total risk and charge provisions (Total II)

			31/12/2012		31/12/2011		31/12/2010
	Value at begining of period	5Z	0	0%	0	0%	1,775,088
Increases		TV	0	0%	0	0%	541,922
Decreases		TW	0	0%	0	0%	1,058,583
	Value at the end of period	TX	0	0%	0	0%	1,258,427

Total Provision for depreciation (Total III)

			31/12/2012		31/12/2011		31/12/2010
	Value at begining of period	7B	0	0%	0	0%	10,326,640
Increases		TY	0	0%	0	0%	1,628,215
Decreases		TZ	0	0%	0	0%	2,672,616
	Value at the end of period	UA	0	0%	0	0%	9,282,239

State deadlines claims and debts at the end of period

State claims

		31/12/2012		31/12/2011		31/12/2010
Gross value	VT	13,846,541	0%	0	0%	13,845,228
1 year at most	VU	13,822,257	0%	0	0%	13,803,725
More than one year	VV	24,284	0%	0	0%	41,503

State of loans

		31/12/2012		31/12/2011		31/12/2010
Claims related to holdings (gross)	UL	0	0%	0	0%	0
Claims related to shareholdings (1 year at most)	UM	0	0%	0	0%	0
Loans (gross)	UP	0	0%	0	0%	0
Loans (1 year at most)	UR	0	0%	0	0%	0
Other financial assets (gross)	UT	44,857	0%	0	0%	41,503
Other financial assets (1 year at most)	UV	20,573	0%	0	0%	0

Receivables statement of assets

		31/12/2012		31/12/2011		31/12/2010
Customers doubtful or disputed	VA	6,023	0%	0	0%	82,355
Other claims customer	UX	13,081,899	0%	0	0%	12,724,160
Receivables represent Loaned Securities	UU	0	0%	0	0%	0
Provision for depreciation previously established	UQ	0	0%	0	0%	0
Personnel and associated accounts	UY	44,386	0%	0	0%	89,566
Social Security and other social organizations	UZ	5,985	0%	0	0%	0
Income taxes	VM	0	0%	0	0%	0
Value added tax	VB	405,262	0%	0	0%	236,282
Other taxes and payments assimilated	VN	0	0%	0	0%	0
State and other public - Miscellaneous	VP	0	0%	0	0%	0
Group and Associates	VC	81,879	0%	0	0%	81,879
Accounts receivable (including claims relating to the operation of pension titles)	VR	5,262	0%	0	0%	448,990

Prepaid

			31/12/2012		31/12/2011		31/12/2010
	Prepaid	VS	170,988	0%	0	0%	140,493

State Debt

			31/12/2012		31/12/2011		31/12/2010
	Total debt (gross)	VY	23,991,623	0%	0	0%	24,987,933
1 year at most		VZ2	23,991,623	0%	0	0%	24,970,026
More than 1 year and 5 years at most		VZ3	0	0%	0	0%	17,907
More than 5 years		VZ4	0	0%	0	0%	0

Details

			31/12/2012		31/12/2011		31/12/2010
	Convertible bonds (gross)	7Y1	0	0%	0	0%	0
1 year at most		7Y2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Y3	0	0%	0	0%	0
	Other bonds (gross)	7Z1	0	0%	0	0%	0
1 year at most		7Z2	0	0%	0	0%	0
More than 1 year and 5 years at most		7Z3	0	0%	0	0%	0
	Borrowing & debts to 1 year maximum at the origin (gross)	VG1	4,877	0%	0	0%	3,128
1 year at most		VG2	4,877	0%	0	0%	3,128
More than 1 year and 5 years at most		VG3	0	0%	0	0%	0
	Borrowing & debts to more than 1 year at the origin (gross)	VH1	0	0%	0	0%	0
1 year at most		VH2	0	0%	0	0%	0
More than 1 year and 5 years at most		VH3	0	0%	0	0%	0
	Loans and various financial liabilities (gross)	8A1	16,275,468	0%	0	0%	18,297
1 year at most		8A2	16,275,468	0%	0	0%	390
More than 1 year and 5 years at most		8A3	0	0%	0	0%	17,907
	Suppliers and associated accounts (gross)	8B1	1,384,048	0%	0	0%	10,786,090
1 year at most		8B2	1,384,048	0%	0	0%	10,786,090
More than 1 year and 5 years at most		8B3	1,384,048	0%	0	0%	10,786,090
	Personnel and associated accounts (gross)	8C1	0	0%	0	0%	1,556,833
1 year at most		8C2	0	0%	0	0%	1,556,833
More than 1 year and 5 years at most		8C3	0	0%	0	0%	0
	Social Security and other social organizations (gross)	8D1	1,728,570	0%	0	0%	1,612,335
1 year at most		8D2	1,728,570	0%	0	0%	1,612,335
More than 1 year and 5 years at most		8D3	0	0%	0	0%	0
	Taxes on profits (gross)	8E1	0	0%	0	0%	0
1 year at most		8E2	0	0%	0	0%	0
More than 1 year and 5 years at most		8E3	0	0%	0	0%	0
	VAT (gross)	VW1	0	0%	0	0%	570,624
1 year at most		VW2	0	0%	0	0%	570,624
More than 1 year and 5 years at most		VW3	0	0%	0	0%	0
	Backed Obligations (gross)	VX1	0	0%	0	0%	0
1 year at most		VX2	0	0%	0	0%	0
More than 1 year and 5 years at most		VX3	0	0%	0	0%	0
	Other taxes and assimilated (gross)	VQ1	386,087	0%	0	0%	0
1 year at most		VQ2	386,087	0%	0	0%	0
More than 1 year and 5 years at most		VQ3	0	0%	0	0%	0
	Assets and liabilities associated accounts (gross)	8J1	0	0%	0	0%	0
1 year at most		8J2	0	0%	0	0%	0
More than 1 year and 5 years at most		8J3	0	0%	0	0%	0
More than 5 years		8J4	0	0%	0	0%	0
	Groups and associates (gross)	VI1	4,119,337	0%	0	0%	10,308,012
1 year at most		VI2	4,119,337	0%	0	0%	10,308,012
More than 1 year and 5 years at most		VI3	0	0%	0	0%	0
More 5 years		VI4	0	0%	0	0%	0
	Other liabilities (gross)	8K1	93,236	0%	0	0%	132,614
1 year at most		8K2	93,236	0%	0	0%	132,614
More than 1 year and 5 years at most		8K3	0	0%	0	0%	0
	Debt representative of borrowed securities (gross)	SZ1	0	0%	0	0%	0
1 year at most		SZ2	0	0%	0	0%	0
More than 1 year and 5 years at most		SZ3	0	0%	0	0%	0
	Products in advance (gross)	8L1	0	0%	0	0%	0
1 year at most		8L2	0	0%	0	0%	0
More than 1 year and 5 years at most		8L3	0	0%	0	0%	0

References

		31/12/2012		31/12/2011		31/12/2010
Loans made during the period	VJ	0	0%	0	0%	0
Debt repaid during the period	VK	0	0%	0	0%	0

Table allocation results and other information
Dividends distributed

			31/12/2012		31/12/2011		31/12/2010
	Dividends	ZE	0	0%	0	0%	0

Commitments

		31/12/2012		31/12/2011		31/12/2010
Commitments leasing furniture	YQ	0	0%	0	0%	0
Commitments Real Estate Leasing	YR	0	0%	0	0%	0
Effects brought to the discount and unmatured	YS	0	0%	0	0%	0

Other charges Externes

		31/12/2012		31/12/2011		31/12/2010
Subcontracting	YT	0	0%	0	0%	0
Rentals, rental charges and condominiums	XQ	0	0%	0	0%	0
Staff outside the company	YU	0	0%	0	0%	0
Remuneration intermediaries and fees (excluding fees)	SS	0	0%	0	0%	0
Fees, commissions and brokerage	YV	0	0%	0	0%	0
Other accounts	ST	0	0%	0	0%	0
Total Other purchases and external	ZJ	0	0%	0	0%	0

Taxes and Fees

		31/12/2012		31/12/2011		31/12/2010
Business tax	YW	0	0%	0	0%	0
Other taxes and payments assimilated	9Z	0	0%	0	0%	0
Total taxes and fees	YX	0	0%	0	0%	0

VAT

		31/12/2012		31/12/2011		31/12/2010
Amount VAT collected	YY	0	0%	0	0%	0
Total VAT on goods and services	YZ	0	0%	0	0%	0

Average number of employees

			31/12/2012		31/12/2011		31/12/2010
	Average number of employees	YP	240	-2.0%	245	0.8%	243

Groups and Shareholders

			31/12/2012		31/12/2011		31/12/2010
	Groups and Shareholders	ZR	0	-	0	-	-

Display parameter
Comparison mode	Average	Median

Ratios
Structure and liquidity | Management or rotation | Profitability of the business | Return on capital

Structure and Liquidity

	31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Fixed Asset Financing	1.01	4.1%	0.97	4.3%	0.93	2.30	-56.1%
Global Debt	208days	-5.0%	219days	-17.4%	265days	127days	63.8%
Working Capital Fund overall net	2days	120.0%	-10days	63.0%	-27days	134days	-98.5%
Financial independence	540227.17%	274.4%	144274.46%	83.6%	78574.22%	359.85%	150025.7%
More ratios
Solvability	50.33%	17.3%	42.92%	10.7%	38.77%	50.22%	0.2%
Capacity debt futures	540227.17%	-	%	-	538188.17%	3036.85%	17689.1%
Coverage of current assets by net working capital overall	0.92%	119.0%	-4.83%	55.1%	-10.75%	53.40%	-98.3%
General Liquidity	0.58	-		-	0.55	0.95	-38.9%
Restricted Liquidity	0.73	-		-	0.71	1.55	-52.9%

Management or rotation

	31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Need background in operating working capital	-33days	19.5%	-41days	40.6%	-69days	67days	-149.3%
Treasury	32days	28.0%	25days	-37.5%	40days	39days	-17.9%
Inventory turnover of goods	days	-	days	-	days	12days	-
Average length of credit granted to customers	112days	1.8%	110days	-17.9%	134days	76days	47.4%
Average length of credit obtained suppliers	237days	16.7%	203days	-1.9%	207days	66days	259.1%
More ratios
Inventory turnover of raw materials in industrial enterprises	110days	14.6%	96days	-15.0%	113days	110days	0%
Inventory turnover of intermediate and finished products in the industrial enterprise	days	-	316days	-	days	544days	-
Rotation tangible assets	%	-	316.41%	-	%	604.75%	-

Profitability of the business

	31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Margin trading	0%	0%	0%	0%	0	0%	0%
Profitability of the business	4.74	-9.4%	5.23	48.6%	3.52	7.86%	-39.7%
Net profit	15.79%	120.8%	7.15%	349.7%	1.59%	5.36%	194.6%
More ratios
Growth rate of turnover (excluding VAT)	4.75%	-71.5%	16.68%	230.3%	5.05%	0.65%	630.8%
Rates integration	40.91%	-4.0%	42.63%	-6.8%	45.75%	42.93%	-4.7%
Rate leasing furniture	0%	0%	0%	0%	0.31%	0%	0%
Work Factor	83.82%	1.1%	82.89%	-5.2%	87.41%	76.52%	9.5%
Weight interests	1.55	-52.7%	3.28%	5.5%	3.11%	0.28%	453.6%

Return on capital

	31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Cash flow from the overall profitability	19.08%	67.5%	11.39%	91.1%	5.96%	7.50%	154.4%
Rates of economic profitability	8%	-27.3%	11%	57.1%	7%	13%	-38.5%
Financial profitability	26346879%	33.7%	19706448%	17.1%	16834526%	391276%	6633.6%
Return on investment	27.67%	30.3%	21.24%	121.5%	9.59%	10.86%	154.8%

Display parameter
Currency	Euro	Kilo Euro
Comparison mode	Average	Median

Soldes Intermédiaires de Gestion

	31/12/2012		31/12/2011		31/12/2010	Sector Median2012
Turnover	42,051,253	4.7%	40,144,511	16.7%	34,405,313	1,016,445 €	4037.1%

Sales of goods	0	0%	0	0%	0
- Purchase of goods	0	0%	0	0%	0
+/- Stock of goods variation	0	0%	0	0%	0
Trading margin	0 €	0%	0 €	0%	0 €	0 €	0%
	0.00 % CA	0%	0.00 % CA	0%	0.00 % CA	0 % CA	0%

Sale of goods produced	42,051,253	4.7%	40,144,511	16.7%	34,405,313
+/- Stocked production	-453,576	-1024.8%	49,046	114.3%	-342,828
+ Self-constructed assets	303,870	11.3%	273,133	-36.1%	427,478
Period production	41,901,547 €	3.5%	40,466,690 €	17.3%	34,489,963 €	712,548 €	5780.5%
	99.64 % CA	-1.2%	100.80 % CA	0.5%	100.25 % CA	99.58 % CA	0.1%

Trading margin	0	0%	0	0%	0	0	0%
+ Period Production	41,901,547	3.5%	40,466,690	17.3%	34,489,963	712,548	5780.5%
- Purchase of raw materials	14,205,599	-0.8%	14,324,513	33.1%	10,764,799
+/- Change in stocks of raw materiels	-613,165	69.7%	-2,026,746	-365.0%	-435,818
- Other external purchases and charges	11,104,354	0.4%	11,057,064	31.3%	8,419,260
Added value	17,204,759 €	0.5%	17,111,859 €	8.7%	15,741,722 €	468,293 €	3573.9%
	40.91 % CA	-4.0%	42.63 % CA	-6.8%	45.75 % CA	42.93 % CA	-4.7%

Added value	17,204,759 €	0.5%	17,111,859 €	8.7%	15,741,722 €	468,293 €	3573.9%
+ Operating grants	807	-60.0%	2,020	0%	0
- Tax, duty and similar payments	792,729	-4.7%	831,847	8.0%	770,316
- Personal charges	14,420,191	1.7%	14,184,078	3.1%	13,760,565
Gross operating surplus	1,992,646 €	-5.0%	2,097,954 €	73.3%	1,210,841 €	57,936 €	3339.4%
	4.74 % CA	-9.4%	5.23 % CA	48.6%	3.52 % CA	7.86 % CA	-39.7%

Gross operating surplus	1,992,646 €	-5.0%	2,097,954 €	73.3%	1,210,841 €	57,936 €	3339.4%
+ Release of reserves and provisions	7,408,186	115.4%	3,439,316	49.8%	2,296,253
+ Other operating income	75,104	13.7%	66,072	-33.5%	99,325
- Depreciation/Amortisation	2,965,333	16.8%	2,539,822	-17.0%	3,060,433
- Other charges	201,578	-66.7%	605,397	124.8%	269,343
Operating result	6,309,025 €	156.7%	2,458,123 €	788.6%	276,643 €	36,226 €	17315.7%
	15.00 % CA	145.1%	6.12 % CA	665.0%	0.80 % CA	4.74 % CA	216.5%

Operating result	6,309,025 €	156.7%	2,458,123 €	788.6%	276,643 €	36,226 €	17315.7%
+/- Result of joint-venture transferred from/to other partners	0	0%	0	0%	0
+ Financial income	1,093,370	-32.4%	1,617,967	114.9%	752,988
- Financial charges	649,946	-50.6%	1,316,534	23.2%	1,068,708
Pre-tax result	6,752,449 €	144.7%	2,759,556 €	7161.8%	-39,077 €	33,229 €	20221.0%
	16.06 % CA	133.8%	6.87 % CA	6345.5%	-0.11 % CA	4.58 % CA	250.7%

Extraordinary income	2,384	-90.2%	24,325	-98.5%	1,668,508	572	316.8%
- Extraordinary charges	49,956	-58.9%	121,495	-91.4%	1,418,187
Extraordinary result	-47,572 €	51.0%	-97,170 €	-138.8%	250,321 €	0 €	0%
	-0.11 % CA	54.2%	-0.24 % CA	-132.9%	1 % CA	0 % CA	0%

Pre-tax result	6,752,449 €	144.7%	2,759,556 €	7161.8%	-39,077 €	33,229 €	20221.0%
Extraordinary result	-47,572 €	51.0%	-97,170 €	-138.8%	250,321 €	0 €	0%
- Employee profit sharing	0	0%	0	0%	0
- Tax on profits	64,446	130.8%	-209,537	37.7%	-336,518
Net result	6,640,431 €	131.2%	2,871,923 €	424.3%	547,762 €	48,840 €	13496.3%
	15.79 % CA	120.8%	7.15 % CA	349.7%	1.59 % CA	5.36 % CA	194.6%

FOREIGN EXCHANGE RATES

N/a

ADDITIONAL INFORMATION

Company details

Activity (APE)	Manufacture of scientific and technical instrumentation (2651B)
RCS Registration	RCS Arras 0 433 953 379	Share capital	20,064,825 Euros
Registration Court	Arras (62)	Legal form	Simplified Joint Stock Company with Single Associate
Court Registry Number	20 0 0B00369	EUR VAT Number	FR63433953379
Incorporation Date	12/2000	Formation Date	12/2000
Deregistration Date		Last account Date	31/12/2012
Nationality	France

Establishment details

Activity (APE)	Fabrication d'instrumentation scientifique et technique (2651B)	Business Pages FT®	APPAREILS DE MESURE, DE CONTROLE, DE REGULATION ET DE DETECTION
Postal Address	OLDHAM ZONE INDUSTRIELLE EST RUE MATHIEU ORFILA 62027 ARRAS CEDEX	Trading Address	RUE MATHIEU ORFILA 62000 ARRAS
Telephone	04 42 46 10 46
Fax	04 42 46 10 42

Type	Head office	Status	Economically active
Formation Date	12/2000	Reason for formation	Other
Closure Date		Reason for closure	Concealment of part of activity by sale
Reactivation Date		Production Role
Activity Nature	-	Activity Location	Other
Location surface		Seasonality

Department	Pas-de-Calais (62)	Region	Nord-Pas-de-Calais
District	1	Area	96
City	ARRAS	Size of urban area

Other establishments

	Branches	2 branch entities in this company

	Head office	> OLDHAM <<< - Fabrication d'instrumentation scientifique et technique (2651B) in ARRAS (62000)

	Secondary establishments	> OLDHAM - Fabrication d'instrumentation scientifique et technique (2651B) in CHANTEPIE (35135) > OLDHAM - Fabrication d'instrumentation scientifique et technique (2651B) in VILLEURBANNE (69100) > OLDHAM - Fabrication d'instrumentation scientifique et technique (2651B) in ECULLY (69130) > OLDHAM - Fabrication d'instrumentation scientifique et technique (2651B) in MOULINS LES METZ (57160) > ...

	Regionality	Legal unit with multiple establishments in many areas having at least 50% of workforce in same area

	Mono-activity status	Legal unit with multiple establishments having main activities in many divisions, which one activity grouping from 50 to 80% of workforce

Workforces

Workforce at address

100 to 199 employees

Company workforce

200 to 249 employees

Historical Data

Registration number

Registration date

Date of the planned end

Creditor

Amount of the debt

Due remaining amount

201001027

20/10/2010

30/11/2010

REUNI RETRAITE SALARIES 154 RUE ANATOLE FRANCE 92300 LEVALLOIS PERRET

5,517 EUR

Reason for closure	Crossed Off
Court	Arras
Creditor	REUNI RETRAITE SALARIES 154 RUE ANATOLE FRANCE 92300 LEVALLOIS PERRET
Debtor	INDUSTRIAL SCIENTIFIC - OLDHAM Zone Industrielle Est rue Orfila 62027 Arras Cedex, Arras Cedex

Events history

Status history

No Status History

Recent publications in Gazettes

Publication date	Gazette Name	Description
21/02/2014	Bodacc B	Modification et mutation diverse

62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 1060 - 433 953 379 RCS Arras. OLDHAM. Forme : Société par actions simplifiée. Administration : Président : MARKIN Adam Directeur général : FOURLEGNIE Thibault Commissaire aux comptes titulaire : M.B.V ET ASSOCIES (SA) Commissaire aux comptes suppléant : BDO FRANCE. Activité : . Commentaires : Modification survenue sur l'administration.
31/01/2014	JAL	Appointment of the social representative

Syndicat agricole (Le) Date de décision : 16/01/2014 Société faisant l'objet d'une nomination : 433953379 - OLDHAM, RUE MATHIEU ORFILA, ZONE INDUSTRIELLE EST, 62000 ARRAS Nominé : Monsieur Thibault FOURLEGNIE, 62116 ABLAINZEVELLE En la fonction de : Directeur général
11/12/2013	Bodacc B	Modification et mutation diverse

62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 2591 - 433 953 379 RCS Arras. OLDHAM. Forme : Société par actions simplifiée. Administration : Président : MARKIN Adam Commissaire aux comptes titulaire : M.B.V ET ASSOCIES (SA) Commissaire aux comptes suppléant : BDO FRANCE. Activité : . Commentaires : Modification survenue sur l'administration.
01/12/2013	Bodacc B	Modification et mutation diverse

62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 482 - 433 953 379 RCS Arras. OLDHAM. Forme : Société par actions simplifiée. Activité : En France et à l'étranger : La conception et la fabrication d'équipements industriels de toute sorte et notamment d'équipements relatifs à la détection de gaz fabrication développement et commercialisation de détecteurs fixes de gaz explosifs inflammables et toxiques ainsi que d'analyseurs de gaz à l'émission et autres produits Lies à l'utilisation de gaz. Commentaires : Modification survenue sur l'activité.
30/11/2013	Bodacc A	Vente et cession : Vendeur

62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 1473 - 489 995 761 RCS Arras. INDUSTRIAL SCIENTIFIC FRANCE. Forme : Société par actions simplifiée. Administration : Président : LE MINTER Cédric Commissaire aux comptes titulaire : KPMG AUDIT (SA) Commissaire aux comptes suppléant : SCP JEAN CLAUDE ANDRE ET AUTRES (SCP). Capital : 12040000 EUR. Adresse : Zone Industrielle est rue Orfila, 62000 Arras. Origine du fonds : Etablissement principal acquis par achat au prix stipulé de 444150 Euros. Etablissement : Etablissement principal. Activité : Conception fabrication négoce et distribution de tous équipements industriels et plus spécialement ceux relatifs à la détection de gaz, la fourniture de tous types de prestations de services en relation avec tous equipements industriels et notamment des équipements portables de détection de gaz et de manière générale, l'ensemble des opérations pouvant etre réalisées en lien avec des equipements industriels. l'acquisition et la gestion de toutes valeurs mobilières de tous biens et droits mobiliers et immobiliers dans toutes sociétés. Adresse : Zone Industrielle est rue Orfila, 62000 Arras. Précédent propriétaire : OLDHAM. 433 953 379 RCS Arras. Date de commencement de l’activité : 28/04/2006. Publication légale : Le syndicat agricole du 15/11/2013. Oppositions : au siège social du cessionnaire Zone Industrielle, est rue Orfila 62000 Arras. Descriptif : Modification survenue sur l'activité. Commentaires : Achat d'un établissement principal par une personne morale lors de l'immatriculation.
29/11/2013	JAL	Appointment of the social representative

Syndicat agricole (Le) Date de décision : 31/10/2013 Société faisant l'objet d'une nomination : 433953379 - OLDHAM, RUE MATHIEU ORFILA, ZONE INDUSTRIELLE EST, 62000 ARRAS Nominé : Monsieur Adam MARKIN, NC 28704 MATTHEWS En la fonction de : Président
29/11/2013	JAL	Resignation / Revocation of the social representative

Syndicat agricole (Le) Date de décision : 31/10/2013 La société 433953379 - OLDHAM, RUE MATHIEU ORFILA, ZONE INDUSTRIELLE EST, 62000 ARRAS Fait l'objet du départ de Monsieur Thibault FOURLEGNIE, Grunerstrasse 33, 40239, DUSSELDORF
28/11/2013	Bodacc B	Modification et mutation diverse

62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 673 - 433 953 379 RCS Arras. OLDHAM. Forme : Société par actions simplifiée. Capital : 20064825 EUR. Activité : . Commentaires : Modification survenue sur le capital.
20/11/2013	JAL	Modification of the share capital

Gazette Nord Pas de Calais/Edition du Pas de Calais Date de décision : 30/10/2013 La société : 433953379 - OLDHAM, RUE MATHIEU ORFILA, ZONE INDUSTRIELLE EST, 62000 ARRAS a subi une diminution de son capital social désormais de 14 520 000 € Date d'effet : 30/10/2013
15/11/2013	JAL	Activity or goodwill cession: Seller

Syndicat agricole (Le) Date de décision : 30/10/2013 Cédant : 433953379 - OLDHAM, RUE MATHIEU ORFILA, ZONE INDUSTRIELLE EST, 62000 ARRAS Cessionnaire : 489995761 - INDUSTRIAL SCIENTIFIC FRANCE, RUE MATHIEU ORFILA, ZI EST, 62000 ARRAS Prix de vente : 444150 € Date d’effet : 30/10/2013
05/11/2013	Bodacc B	Modification et mutation diverse

62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 730 - 433 953 379 RCS Arras. OLDHAM. Forme : Société par actions simplifiée. Administration : Président : FOURLEGNIE Thibault Commissaire aux comptes titulaire : M.B.V ET ASSOCIES (SA) Commissaire aux comptes suppléant : BDO FRANCE. Activité : . Commentaires : Modification survenue sur la dénomination, l'administration.
31/10/2013	Bodacc C	Comptes annuels et rapports

62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 7036 - 433953379 RCS. INDUSTRIAL SCIENTIFIC - OLDHAM. Forme : Société par actions simplifiée. Adresse : Zone Industrielle Est rue Orfila 62027 Arras Cedex. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2012.
20/09/2013	Bodacc B	Modification et mutation diverse

62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 738 - 433 953 379 RCS Arras. INDUSTRIAL SCIENTIFIC - OLDHAM. Forme : Société par actions simplifiée. Administration : Président : FOURLEGNIE Thibault Commissaire aux comptes titulaire : KPMG représenté par DE BRIANSON Christian Commissaire aux comptes suppléant : DESBARRIERES Bertrand. Activité : . Commentaires : Modification survenue sur l'administration.
04/09/2013	JAL	Appointment of the social representative

Gazette Nord Pas de Calais/Edition du Pas de Calais Date de décision : 19/08/2013 Société faisant l'objet d'une nomination : 433953379 - INDUSTRIAL SCIENTIFIC - OLDHAM, RUE MATHIEU ORFILA, ZONE INDUSTRIELLE EST, 62000 ARRAS Nominé : Monsieur Thibault FOURLEGNIE, 40239 DUSSELDORF En la fonction de : Président
04/09/2013	JAL	Resignation / Revocation of the social representative

Gazette Nord Pas de Calais/Edition du Pas de Calais Date de décision : 19/08/2013 La société 433953379 - INDUSTRIAL SCIENTIFIC - OLDHAM, RUE MATHIEU ORFILA, ZONE INDUSTRIELLE EST, 62000 ARRAS Fait l'objet du départ de Monsieur Thomas Michael CUNNINGHAM
30/08/2012	Bodacc C	Comptes annuels et rapports

62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 7717 - 433953379 RCS. INDUSTRIAL SCIENTIFIC - OLDHAM. Forme : Société par actions simplifiée. Adresse : Zone Industrielle Est rue Orfila 62027 Arras Cedex. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2011.
12/10/2010	Bodacc C	Comptes annuels et rapports

62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 8073 - 433953379 RCS. INDUSTRIAL SCIENTIFIC - OLDHAM. Forme : Société par actions simplifiée. Adresse : Zone Industrielle Est rue Orfila 62027 Arras Cedex. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2009.
23/03/2010	Bodacc B	Modification et mutation diverse

62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 898 - 433 953 379 RCS Arras. INDUSTRIAL SCIENTIFIC - OLDHAM. Forme : Société par actions simplifiée. Administration : Président : CUNNINGHAM Thomas, Michael Commissaire aux comptes titulaire : KPMG représenté par DE BRIANSON Christian Commissaire aux comptes suppléant : DESBARRIERES Bertrand. Commentaires : Modification survenue sur l'administration.
23/02/2010	JAL	Appointment of the social representative

LA GAZETTE DU NORD PAS DE CALAIS Société faisant objet d'une nomination : 433953379 - INDUSTRIAL SCIENTIFIC - OLDHAM, RUE MATHIEU ORFILA, ZONE INDUSTRIELLE EST, 62000 ARRAS Nominé : Monsieur Thomas CUNNINGHEM, 40 AVENUE 40 AVENUE DE VILLEPREUX, 92420 VAUCRESSON En la fonction de : Président
23/02/2010	JAL	Resignation / Revocation of the social representative

LA GAZETTE DU NORD PAS DE CALAIS Date de décision : 14/01/2010 La société 433953379 - INDUSTRIAL SCIENTIFIC - OLDHAM, RUE MATHIEU ORFILA, ZONE INDUSTRIELLE EST, 62000 ARRAS Fait l'objet du départ de Monsieur Justin ELHATTAN
24/12/2009	Bodacc B	Modification et mutation diverse

62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 1004 - 433 953 379 RCS Arras. INDUSTRIAL SCIENTIFIC - OLDHAM. Forme : Société par actions simplifiée. Administration : Président : MC ELHATTAN Justin Commissaire aux comptes titulaire : KPMG représenté par DE BRIANSON Christian Commissaire aux comptes suppléant : DESBARRIERES Bertrand. Commentaires : Modification survenue sur l'administration.
25/11/2009	JAL	Resignation / Revocation of the social representative

LA GAZETTE DU NORD PAS DE CALAIS Date de décision : 19/10/2009 La société 433953379 - INDUSTRIAL SCIENTIFIC - OLDHAM, RUE MATHIEU ORFILA, ZONE INDUSTRIELLE EST, 62000 ARRAS Fait l'objet du départ de Monsieur Colin ARLOTT
25/11/2009	JAL	Appointment of the social representative

LA GAZETTE DU NORD PAS DE CALAIS Société faisant objet d'une nomination : 433953379 - INDUSTRIAL SCIENTIFIC - OLDHAM, RUE MATHIEU ORFILA, ZONE INDUSTRIELLE EST, 62000 ARRAS Nominé : Monsieur Justin ELHATTAN En la fonction de : Président
20/09/2009	Bodacc C	Comptes annuels et rapports

62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 734 - 433953379 RCS. INDUSTRIAL SCIENTIFIC - OLDHAM. Forme : Société par actions simplifiée. Adresse : Zone Industrielle Est rue Orfila 62027 Arras Cedex. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2008.
14/10/2008	Bodacc C	Comptes annuels et rapports

62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 8386 - 433953379 RCS. INDUSTRIAL SCIENTIFIC - OLDHAM. Forme : Société par actions simplifiée. Adresse : Zone Industrielle Est rue Orfila, 62027 Arras Cedex. Commentaires : Comptes annuels et rapports de l'exercice clos le : 31/12/2007.
28/02/2008	Bodacc B	Modification et mutation diverse

62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 2007 - 433 953 379 RCS Arras. INDUSTRIAL SCIENTIFIC - OLDHAM. Forme : Société par actions simplifiée. Administration : Président : ARLOTT Colin. Commissaire aux comptes titulaire : KPMG () représenté par DE BRIANSON Christian. Commissaire aux comptes suppléant : DESBARRIERES Bertrand. Commentaires : Modification survenue sur l'administration, la dénomination, la forme juridique.
13/02/2008	Bodacc B	Modification et mutation diverse

62 - PAS-DE-CALAIS GREFFE DU TRIBUNAL DE COMMERCE D'ARRAS 2580 - 433 953 379 RCS Arras. OLDHAM. Forme : Société anonyme. Administration : Président directeur général et administrateur : ARLOTT Colin. Administrateur : FINANCIERE ODESSA. (SAD) représenté par MC ELHATTAN Kent Mac. Administrateur : DASSONVILLE Philippe. Commissaire aux comptes titulaire : KPMG () représenté par DE BRIANSON Christian. Commissaire aux comptes suppléant : DESBARRIERES Bertrand. Commentaires : Modification survenue sur l'administration.
15/06/2007	Bodacc B	Modifications et mutations diverses

1806 - RCS Arras B 433 953 379. RC 00-B 369. OLDHAM. Forme : S.A. Adresse du siège social : Z.I. Est, rue Orfila,, 62027 Commentaires : modification survenue sur l'administration. Administration : président : SANTRAINE (Jean, Marc) (Nom d'usage : SANTRAINE). Administrateurs : FINANCIERE ODESSA, représentée par McELHATTAN (Kent, Ditty) (Nom d'usage : McELHATTAN) DASSONVILLE (Philippe) (Nom d'usage : DASSONVILLE). Commissaire aux comptes titulaire : K.P.M.G., représentée par DE BRIANSON (Christian) (Nom d'usage : DE BRIANSON). Commissaire aux comptes suppléant : DESBARRIERES (Bertrand) (Nom d'usage : DESBARRIERES). Date d'effet : 15 mai 2006.
03/09/2006	Bodacc B	Modifications et mutations diverses

1657 - RCS Arras B 433 953 379. RC 00-B 369. OLDHAM. Forme : S.A. Adresse du siège social : Z.I. Est, rue Orfila,, 62027 Commentaires : modification survenue sur l'administration. Administration : président : SANTRAINE (Jean, Marc) (Nom d'usage : SANTRAINE). Administrateurs : FINANCIERE ODESSA, représentée par WOODHEAD (Graham) (Nom d'usage : WOODHEAD) DASSONVILLE (Philippe) (Nom d'usage : DASSONVILLE). Commissaire aux comptes titulaire : K.P.M.G., représentée par DE BRIANSON (Christian) (Nom d'usage : DE BRIANSON). Commissaire aux comptes suppléant : DESBARRIERES (Bertrand) (Nom d'usage : DESBARRIERES). Date d'effet : 10 mai 2006.
25/08/2006	Bodacc B	Modifications et mutations diverses

2728 - RCS Arras B 433 953 379. RC 00-B 369. OLDHAM. Forme : S.A. Adresse du siège social : Z.I. Est, rue Orfila,, 62027 Commentaires : modification survenue sur l'administration. Administration : président : SANTRAINE (Jean, Marc) (Nom d'usage : SANTRAINE). Administrateur : FINANCIERE ODESSA, représentée par WOODHEAD (Graham) (Nom d'usage : WOODHEAD). Commissaire aux comptes titulaire : K.P.M.G., représentée par DE BRIANSON (Christian) (Nom d'usage : DE BRIANSON). Commissaire aux comptes suppléant : DESBARRIERES (Bertrand) (Nom d'usage : DESBARRIERES). Date d'effet : 26 juillet 2005.
23/06/2006	Bodacc C	Avis de dépôt des comptes

4103 - RCS Arras B 433 953 379. RC 00-B 369. OLDHAM. Forme: S.A. Adresse du siège social: Zone Industrielle Est rue Orfila,62027 Arras. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2005.
17/10/2005	Bodacc C	Avis de dépôt des comptes

4387 - RCS Arras B 433 953 379. RC 00-B 369. OLDHAM. Forme: S.A. Adresse du siège social: Zone Industrielle Est rue Orfila,62027 Arras. Comptes annuels et rapports de l'exercice clos le: 31 décembre 2004.
14/10/2004	Bodacc B	Modifications et mutations diverses

RCS Arras B 433953379 RC 00-B 369 OLDHAM. Forme : S.A. Adresse du siège social : Z.I. Est, rue Orfila, 62027 Arras Cedex. Commentaires : modification survenue sur l'administration. Administration : président : SANTRAINE ( Jean, Marc) ( Nom d'usage : SANTRAINE). Directeur général délégué : PRAT ( Claude) ( Nom d'usage : PRAT). Administrateur : FINANCIERE ODESSA, représentée par WOODHEAD (Graham) ( Nom d'usage : WOODHEAD). Commissaire aux comptes titulaire : K.P.M.G., représentée par DE BRIANSON (Christian) ( Nom d'usage : DE BRIANSON). Commissaire aux comptes suppléant : DESBARRIERES (Bertrand) ( Nom d'usage : DESBARRIERES). Date d'effet : 21 juin 2004.
06/05/2004	Bodacc B	Modifications et mutations diverses

RCS Arras B 433953379 RC 00-B 369 OLDHAM. Forme : S.A. Adresse du siège social : Z.I. Est, rue Orfila, 62027 Arras Cedex. Commentaires : modification survenue sur l'administration. Administration : président du conseil d' administration : PRAT (Claude) ( Nom d' usage : PRAT). Administrateurs : PARMENTIER (Alain) ( Nom d'usage : PARMENTIER) FINANCIERE ODESSA, représentée par WOODHEAD (Graham) ( Nom d'usage : WOODHEAD). Commissaire aux comptes titulaire : K.P.M.G, représentée par DE BRIANSON (Christian) ( Nom d'usage : DE BRIANSON). Commissaire aux comptes suppléant : DESBARRIERES (Bertrand) ( Nom d'usage : DESBARRIERES). Date d'effet : 29 septembre 2003.
25/04/2003	Bodacc B	Modifications et mutations diverses

RCS Arras B 433953379 RC 00-B 369 OLDHAM. Forme : S.A. Capital : 14 520 000 euros. Adresse du siège social : Z.I. Est, rue Orfila, 62027 Arras Cedex. Commentaires : modification survenue sur l'administration. Administration : président du conseil d'administration : PRAT (Claude) ( Nom d'usage : PRAT). Administrateurs : METCALFE (John, Lee) ( Nom d'usage : METCALFE) PARMENTIER ( Alain) ( Nom d'usage : PARMENTIER) FINANCIERE ODESSA, représentée par WOODHEAD (Graham) ( Nom d'usage : WOODHEAD). Commissaire aux comptes titulaire : K.P.M.G, représentée par DE BRIANSON (Christian) ( Nom d'usage : DE BRIANSON). Commissaire aux comptes suppléant : DESBARRIERES (Bertrand) ( Nom d'usage : DESBARRIERES). Date d'effet : 30 septembre 2002.
13/02/2002	Bodacc B	Modifications et mutations diverses

RCS Arras B 433953379 RC 00-B 369 OLDHAM. Forme : S.A. Capital : 14 520 000 euros. Adresse du siège social : Z.I. Est, rue Orfila, 62027 Arras Cedex. Commentaires : modification survenue sur le capital (augmentation) et l' administration. Administration : président du conseil d'administration : PRAT (Claude) ( Nom d'usage : PRAT). Administrateurs : METCALFE (John, Lee) ( Nom d'usage : METCALFE) PARMENTIER ( Alain) ( Nom d'usage : PARMENTIER). Commissaires aux comptes titulaires : ERNST & YOUNG AUDIT K.P.M.G, représentée par DE BRIANSON (Christian) ( Nom d'usage : DE BRIANSON). Commissaires aux comptes suppléants : COLICHE (Daniel) ( Nom d'usage : COLICHE) DESBARRIERES (Bertrand) ( Nom d'usage : DESBARRIERES). Date d'effet : 30 novembre 2001.
15/04/2001	Bodacc B	Modifications et mutations diverses

RCS Arras B 433953379 RC 00-B 369 OLDHAM. Forme : S.A. Capital : 90 750 000 F. Adresse du siège social : Z.I. Est, rue Orfila, 62027 Arras. Commentaires : modification survenue sur l'adresse du siège social. Transfert du siège social et du principal établissement de la Z.I. Est, rue Alexandre-Fleming, Arras. Adjonction de l'activité, fabrication, développement et commercialisation de détecteurs fixes et/ou portables de gaz explosifs inflammables et toxiques ainsi que d'analyseurs de gaz à l' émission et d'autres produits liés à l' utilisation de gaz. Date d'effet : 28 décembre 2000.
04/04/2001	Bodacc B	Modifications et mutations diverses

RCS Arras B 433953379 RC 00-B 369 OLDHAM. Forme : S.A. Capital : 90 750 000 F. Adresse du siège social : Z.I. Est, rue Alexander-Fleming, 62000 Arras. Commentaires : modification survenue sur l'administration. Administration : président du conseil d'administration : PRAT (Claude) ( Nom d'usage : PRAT). Administrateurs : METCALFE (John, Lee) ( Nom d'usage : METCALFE) PARMENTIER ( Alain) ( Nom d'usage : PARMENTIER). Commissaire aux comptes titulaire : ERNST ET YOUNG AUDIT. Commissaire aux comptes suppléant : COLICHE (Daniel) ( Nom d'usage : COLICHE). Date d'effet : 28 décembre 2000.
06/03/2001	Bodacc A	Création d'établissement

RCS Arras B 433953379 RC 00-B 369 OLDHAM. Forme : S.A. Capital : 250 000 F. Adresse du siège social : Z.I. Est, rue Alexander-Fleming, 62000 Arras. Administration : président du conseil d' administration : COLES (Richard). Administrateurs : BLACKWELL (Nathan) et DUESENBERG (Mark). Commissaire aux comptes titulaire : ERNEST ET YOUNG AUDIT. Commissaire aux comptes suppléant : COLICHE (Daniel) Etablissement principal: Activité : fabrication, développement, commercialisation de détecteurs fixes et/ou portables de gaz explosifs, inflammables, toxiques analyseurs de gaz à l'émission et autres produits liés à l'utilisation du gaz. Adresse : Z. I. Est, rue Alexander-Fléming, 62000 Arras Elément d'une branche d'activité acquis par apport global au montant évalué à 181 000 000 F. Commentaires : Le montant global comprend également les apports sis à Montauban, Vitrolles, Montigny-les-Bretonneux, Cesson, Sévigné et Villeurbanne. Date d'effet : 28 décembre 2000. Précédent propriétaire : HAWKER S.A. RCS Arras B 561920323 RC 56- B 32 Publication légale: La Gazette Nord Pas-de-Calais du 12 janvier 2001 déclaration de créances: au greffe du tribunal de commerce d'Arras.
27/02/2001	Bodacc A	Création d'établissement

RCS Montauban 433953379 A dater du: 31 janvier 2001 OLDHAM. Forme : S.A. Capital : 250 000 F. Adresse du siège social : Z.I. Est, rue Alexander-Fleming, 62000 Arras ETABLISSEMENT SECONDAIRE. Activité : fabrication, développement et commercialisation de détecteurs fixes et/ou portables, de gaz explosifs, inflammables et toxiques, d'analyseurs de gaz à émission et tous autres produits liés à l'utilisation du gaz. Adresse : 1070 boulevard Blaise-Doumerc, 82000 Montauban Etablissement secondaire acquis par apport au montant global évalué à 181 000 000 de F. Commentaires : montant global comprenant également les apports sis à Arras, Vitrolles, Montigny-le-Bretonneux, Cesson-Sévigné et Villeurbanne. Date d'effet : 28 décembre 2000. Précédent propriétaire : HAWKER. RCS Arras B 561920323 RC 94-B 149 Publication légale: Le Journal du Palais de Tarn-et- Garonne du 18 janvier 2001 déclaration de créances: au tribunal de commerce de Montauban.
23/02/2001	Bodacc A	Vente et cession

RCS non encore inscrit. OLDHAM. Forme : S.A. Capital : 250 000 F. Adresse du siège social : Z.I. Est, rue Alexander-Fleming, 62000 Arras Etablissement principal: Activité : fabrication, développement, commercialisation de détecteurs et/ou portables, de gaz explosifs, inflammables et toxiques ainsi que d' analyseurs de gaz à l'émission et d' autres produits liés à l'utilisation du gaz. Adresse : Z.I. Est, rue Alexander- Fleming, 62000 Arras ETABLISSEMENT SECONDAIRE. Adresse : 201 route de la Seds, 13127 Vitrolles Etablissement secondaire acquis par apport au montant évalué à 181 000 000 F. Date d'effet : 28 décembre 2000. Précédent propriétaire : HAWKER S.A. RCS Arras B 561920323 RC 96- B 573 Publication légale: Les Nouvelles publications du 12 janvier 2001 déclaration de créances: au tribunal de commerce de Salon-de-Provence.
23/02/2001	Bodacc A	Création d'établissement

RCS Arras B 433953379 OLDHAM. Forme : S.A. Capital : 250 000 F. Adresse du siège social : Z.I. Est, rue Alexander-Fleming, 62000 Arras Etablissement principal: Activité : fabrication, développement, commercialisation de détecteurs fixes et/ou portables, de gaz explosifs, inflammables et toxiques ainsi que d' analyseurs de gaz à l'émission et autres produits liés à l'utilisation du gaz. Adresse : 86 rue Jean-Bertin, 69100 Villeurbanne Etablissement principal acquis par apport au montant global évalué à 181 000 000 F. Montant global comprenant également les apports sis à Arras, Montauban, Vitrolles, Montigny- le-Bretonneux et Cesson-Sévigné. Le total de l'actif est de 231 932 042,67 F pour un passif de 50 932 042,67 F, soit une valeur nette de 181 000 000 F. Date d'effet : 28 décembre 2000. Précédent propriétaire : exploitant S.A. HAWKER. RCS Arras B 561920323 Publication légale: Le Tout Lyon du 11 janvier 2001. Oppositions : au tribunal de commerce de Lyon.
18/02/2001	Bodacc B	Modifications et mutations diverses

RCS Arras B 433953379 RC 00-B 369 OLDHAM. Forme : S.A. Capital : 90 750 000 F. Adresse du siège social : Z.I. Est, rue Alexander-Fleming, 62000 Arras. Commentaires : modification survenue sur le capital (augmentation). Date d'effet : 28 décembre 2000.
13/02/2001	Bodacc A	Création d'établissement

RCS Arras B 433953379 OLDHAM. Forme : S.A. Capital : 250 000 F. Adresse du siège social : Z.I. Est, rue Alexander-Fleming, 62000 Arras Etablissement principal: Activité : fabrication, développement et commercialisation de détecteurs, fixes et/ou portables, de gaz explosifs, inflammables et toxiques ainsi que d' analyseurs de gaz à l'émission et autres produits liés à l'utilisation du gaz. Adresse : forum de la Rocade, immeuble Delta, 40 rue Bignon, 35510 Cesson-Sévigné Etablissement principal acquis par apport au montant global évalué à 181 000 000 de F, comprenant également les apports sis à Arras, Montauban, Vitrolles, Montigny-le- Bretonneux et Villeurbanne Date de début d'activité: 28 décembre 2000. Précédent propriétaire : exploitant HAWKER. RCS Arras B 561920323 Publication légale: Les Informations de Gacilly du 17 janvier 2001. Oppositions : au tribunal de commerce de Rennes.
01/02/2001	Bodacc A	Création d'établissement

RCS Versailles B 433953379 RC AP-B 53 OLDHAM. Forme : S.A. Capital : 250 000 F. Adresse du siège social : Z.I. Est, rue Alexandrer-Fleming, 92000 Arras Etablissement principal: Activité : fabrication, développement, commercialisation de détecteurs fixes et/ou portables de gaz explosifs, inflammables et toxiques ainsi que d' analyseurs de gaz à l'émission et autres produits liés à l'utilisation du gaz. Adresse : 27 avenue des Trois- Peuples, 78180 Montigny-le-Bretonneux Ensemble des éléments actifs et passifs de la branche d'activité citée ci- dessus acquis par apport au montant évalué à 181 000 000 de F, montant global concernant également les fonds sis à Arras, Montauban, Vitrolles, Cesson-Sévigné et Villeurbanne. Date d'effet : 28 décembre 2000. Précédent propriétaire : HAWKER S.A. OLDHAM FRANCE. RCS B 561920323 Publication légale: Les Annonces de la Seine du 11 janvier 2001 déclaration de créances: au tribunal de commerce de Versailles.
28/01/2001	Bodacc A	Création d'établissement

RCS Arras B 433953379 RC 00-B 369 OLDHAM. Forme : S.A. Capital : 250 000 F. Adresse du siège social : Z.I. Est, rue Alexander-Fleming, 62000 Arras. Administration : président du conseil d' administration : COLES (Richard) ( Nom d'usage : COLES). Administrateurs : BLACKWELL (Nathan) ( Nom d'usage : BLACKWELL) DUESENBERG (Mark) ( Nom d' usage : DUESENBERG). Commissaire aux comptes titulaire : ERNST ET YOUNG AUDIT. Commissaire aux comptes suppléant : COLICHE (Daniel) ( Nom d' usage : COLICHE) Cette société se constitue Etablissement principal: Activité : tant en France qu'à l' étranger, conception et fabrication d' équipements industriels de toutes sortes notamment d'équipements relatifs à la détection de gaz. Adresse : Z.I. Est, rue Alexander-Fleming, 62000 Arras Date de début d'activité: 11 décembre 2000.

Company events history

Date	Description
21/02/2014	Bodacc B: Various editing or changing
05/02/2014	Amendment
16/01/2014	Legal Gazette: Appointment of the social representative
16/01/2014	Modification to Company Identifier
16/01/2014	Update of Company Legal Form
11/12/2013	Bodacc B: Various editing or changing
01/12/2013	Bodacc B: Various editing or changing
30/11/2013	Bodacc A : Sale and transfer
29/11/2013	Legal Gazette: Resignation / Revocation of the social representative
28/11/2013	New chairman (CEO, CoB)
28/11/2013	Minutes of general meeting of shareholders
28/11/2013	Bodacc B: Various editing or changing
28/11/2013	Updated articles of association
19/11/2013	Updated articles of association
19/11/2013	Capital increase
19/11/2013	Minutes of general meeting of shareholders
05/11/2013	Bodacc B: Various editing or changing
31/10/2013	Legal Gazette: Appointment of the social representative
31/10/2013	Bodacc C : Deposit accounts notice
30/10/2013	Other modification of Establishment
30/10/2013	Legal Gazette: Modification of the share capital
30/10/2013	Legal Gazette: Activity or goodwill cession: Seller
25/10/2013	Update Limit
25/10/2013	Update Rating
25/10/2013	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
23/10/2013	Update Limit
23/10/2013	Update Rating
21/10/2013	Amendment
21/10/2013	Updated articles of association
21/10/2013	New auditor
21/10/2013	New company name
16/10/2013	Update Rating
16/10/2013	Update Limit
27/09/2013	Update of Company Name
27/09/2013	Modification to Company Identifier
27/09/2013	Modification to Establishment Address or Identifier
20/09/2013	Bodacc B: Various editing or changing
09/09/2013	Amendment
09/09/2013	New chairman (CEO, CoB)
04/09/2013	Legal Gazette: Resignation / Revocation of the social representative
19/08/2013	Legal Gazette: Appointment of the social representative
18/07/2013	Update Rating
18/07/2013	Update Limit
26/06/2013	Application and court order
26/06/2013	Extension of term
31/12/2012	New accounts available
01/11/2012	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
30/08/2012	Bodacc C : Deposit accounts notice
31/12/2011	New accounts available
09/09/2011	Consideration of a balance sheet that has led to a reassessment of this company's creditworthiness
07/09/2011	Bodacc C : Deposit accounts notice
03/06/2011	New subsidiarie(s) detected
03/06/2011	New ultimate parent
03/06/2011	New parent detected
31/12/2010	New accounts available
30/11/2010	Preferential right lapsed
20/10/2010	New Filling of Social Security preferential right
20/10/2010	Unfiling of a Social Security preferential right
12/10/2010	Bodacc C : Deposit accounts notice
23/03/2010	Bodacc B: Various editing or changing
04/03/2010	New chairman (CEO, CoB)
04/03/2010	Changement de Président (PDG, PCA)
04/03/2010	PV d'Assemblée
04/03/2010	Minutes of general meeting of shareholders
23/02/2010	Legal Gazette: Resignation / Revocation of the social representative
14/01/2010	Legal Gazette: Appointment of the social representative
31/12/2009	New accounts available
24/12/2009	Bodacc B: Various editing or changing
10/12/2009	Changement de Président (PDG, PCA)
10/12/2009	New chairman (CEO, CoB)
10/12/2009	Minutes of general meeting of shareholders
10/12/2009	PV d'Assemblée
25/11/2009	Legal Gazette: Resignation / Revocation of the social representative
19/10/2009	Legal Gazette: Appointment of the social representative
20/09/2009	Bodacc C : Deposit accounts notice
12/08/2009	Collection of preferential rights activated for this company
31/12/2008	New accounts available
14/10/2008	Bodacc C : Deposit accounts notice
28/02/2008	New Bodacc B ads detected
28/02/2008	Bodacc B: Various editing or changing
13/02/2008	Bodacc B: Various editing or changing
13/02/2008	New Bodacc B ads detected
11/02/2008	Updated articles of association
11/02/2008	Statuts mis à jour
11/02/2008	Minutes of general meeting of shareholders
11/02/2008	PV d'Assemblée
11/02/2008	Private document
11/02/2008	New company name
11/02/2008	Changement de dénomination sociale
11/02/2008	New legal form – no new category
11/02/2008	Changement de Forme Juridique avec changement de catégorie
15/01/2008	Update of Company Name
15/01/2008	Update of Company Legal Form
15/01/2008	Modification to Company Identifier
11/01/2008	Private document
11/01/2008	Audit or Management Report
11/01/2008	Rapport des Commissaires ou du Gérant
11/01/2008	Changement de Forme Juridique avec changement de catégorie
03/01/2008	Changes to the Board of Directors
03/01/2008	New chairman (CEO, CoB)
03/01/2008	PV d'Assemblée
03/01/2008	Minutes of general meeting of shareholders
03/01/2008	Appointment/resignation of company officers
03/01/2008	Acte modificatif
03/01/2008	Changement de Président (PDG, PCA)
03/01/2008	Private document
03/01/2008	Minutes of Board meeting
31/12/2007	New accounts available
02/05/2007	Amendment
02/05/2007	Acte modificatif
02/05/2007	Private document
31/12/2006	New accounts available
11/08/2006	Appointment/resignation of company officers
11/08/2006	Minutes of general meeting of shareholders
11/08/2006	PV d'Assemblée
11/08/2006	Private document
11/08/2006	Changes to the Board of Directors
26/07/2006	Modification du Conseil d'Administration
26/07/2006	Minutes of Board meeting
26/07/2006	Appointment/resignation of company officers
26/07/2006	PV du Conseil d'Administration
26/07/2006	Private document
26/07/2006	Acte modificatif
26/07/2006	Changes to the Board of Directors
31/12/2005	New accounts available
31/12/2004	New accounts available
21/09/2004	Changes to the Board of Directors
21/09/2004	Modification du Conseil d'Administration
21/09/2004	Changement de Président (PDG, PCA)
21/09/2004	New chairman (CEO, CoB)
21/09/2004	Acte modificatif
21/09/2004	PV du Conseil d'Administration
21/09/2004	Minutes of Board meeting
21/09/2004	Nomination/démission des organes de gestion
21/09/2004	Appointment/resignation of company officers
21/09/2004	Private document
21/09/2004	Acte sous seing privé
02/08/2004	Minutes of general meeting of shareholders
02/08/2004	Statuts mis à jour
02/08/2004	Acte modificatif
02/08/2004	Updated articles of association
02/08/2004	PV d'Assemblée
02/08/2004	Private document
02/08/2004	Acte sous seing privé
06/04/2004	Modification du Conseil d'Administration
06/04/2004	Acte sous seing privé
06/04/2004	Nomination/démission des organes de gestion
06/04/2004	PV du Conseil d'Administration
06/04/2004	Acte modificatif
31/12/2003	New accounts available
07/04/2003	Modification du Conseil d'Administration
07/04/2003	Nomination/démission des organes de gestion
07/04/2003	Acte sous seing privé
07/04/2003	PV d'Assemblée
09/07/2002	Prorogation de durée
09/07/2002	Requête et Ordonnance
22/01/2002	Conversion du Capital Social en Euros
22/01/2002	Statuts mis à jour
22/01/2002	Augmentation de Capital
22/01/2002	PV d'Assemblée
22/01/2002	Nomination/démission des organes de gestion
22/01/2002	Acte sous seing privé
22/01/2002	Acte modificatif
17/09/2001	Requête et Ordonnance
17/09/2001	Prorogation de durée
22/08/2001	Prorogation de durée
22/08/2001	Requête et Ordonnance
20/03/2001	Acte modificatif
20/03/2001	Modification du Conseil d'Administration
20/03/2001	Transfert du Siège dans le ressort du Tribunal de Commerce
20/03/2001	Augmentation de Capital
20/03/2001	Statuts mis à jour
20/03/2001	PV d'Assemblée
20/03/2001	Nomination/démission des organes de gestion
20/03/2001	Acte sous seing privé
05/03/2001	Augmentation de Capital
05/03/2001	Nomination/démission des organes de gestion
05/03/2001	Modification du Conseil d'Administration
05/03/2001	Transfert du Siège dans le ressort du Tribunal de Commerce
05/03/2001	Acte sous seing privé
05/03/2001	PV du Conseil d'Administration
05/03/2001	Acte modificatif
05/03/2001	PV d'Assemblée
05/03/2001	Changement de Président (PDG, PCA)
05/03/2001	Changement de date de clôture
25/01/2001	Statuts mis à jour
25/01/2001	PV d'Assemblée
25/01/2001	Nomination/démission des organes de gestion
25/01/2001	Acte sous seing privé
25/01/2001	Modification du Conseil d'Administration
25/01/2001	Augmentation de Capital
27/12/2000	Acte modificatif
27/12/2000	Rapport des Commissaires ou du Gérant
27/12/2000	Acte sous seing privé
21/12/2000	Statuts
21/12/2000	Acte sous seing privé
21/12/2000	Formation de Société
21/12/2000	Certificat de dépôt des fonds
21/12/2000	Nomination/démission des organes de gestion
21/12/2000	PV du Conseil d'Administration
21/12/2000	Acte modificatif

NOTES & COMMENTS

N/a

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.23
UK Pound	1	Rs.98.53
Euro	1	Rs.77.75

INFORMATION DETAILS

Analysis Done by :	KAR

Report Prepared by :	TPT

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.

MIRA INFORM REPORT

REGISTERED NAME & COMPANY SUMMARY

Company summary

DIRECTORS/MANAGEMENT

NEGATIVE INFORMATION

SHARE & SHARE CAPITAL INFORMATION

GROUP STRUCTURE & AFFILIATED COMPANIES

FINANCIAL INFORMATION

FOREIGN EXCHANGE RATES

ADDITIONAL INFORMATION

NOTES & COMMENTS

Unit