MIRA INFORM REPORT

Report No. :	316283
Report Date :	15.04.2015

IDENTIFICATION DETAILS

Name :	CONMETALL GMBH & CO. KG

Registered Office :	Hafenstr. 26, D 29223 Celle, Post Box: 21 26, D 29261 Celle

Country :	Germany

Date of Incorporation :	1735

Legal Form :	Limited Partnership With Private Limited Company As General Partner

Line of Business :	· Wholesale of sanitary ware · Wholesale of tools and hardware · Wholes of metal and plastic goods for construction purposes

No. of Employees :	500

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 – December 31, 2014

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Germany

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

GERMANY - ECONOMIC OVERVIEW

The German economy - the fifth largest economy in the world in PPP terms and Europe's largest - is a leading exporter of machinery, vehicles, chemicals, and household equipment and benefits from a highly skilled labor force. Like its Western European neighbors, Germany faces significant demographic challenges to sustained long-term growth. Low fertility rates and declining net immigration are increasing pressure on the country's social welfare system and necessitate structural reforms. Reforms launched by the government of Chancellor Gerhard SCHROEDER (1998-2005), deemed necessary to address chronically high unemployment and low average growth, 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 2014. The new German government introduced a minimum wage of about $11.60 (8.50 euros) 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%. The budget was essentially in balance in 2014. 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 plans to replace nuclear power with renewable energy, which accounts for 34% of total energy consumption, up from 9% in 2000. Before the shutdown of the eight reactors, Germany relied on nuclear power for 23% of its electricity generating capacity and 46% of its base-load electricity production.

Source : CIA

Company name & address

CONMETALL GMBH & CO. KG

Company Status: active

Hafenstr. 26

D 29223 Celle

Post Box:

21 26, D 29261 Celle

Telephone:05141/18-0

Telefax: 05141/18-264

Homepage: www.conmetall.de

E-mail: info@conmetall.de

VAT no.: DE115124273

CONCLUSION

Business relations are permissible.

LEGAL FORM Ltd partnership with priv. ltd. company as

general partner

Date of foundation: 1735

Begin of business

activities: 01.01.1943

Registered on: 30.01.1985

companies: Local court 21335 Lüneburg

under: HRA 100596

Total cap. contribution: EUR 30,677,512.87

Limited partner:

Adolf Würth GmbH & Co. KG

Reinhold-Würth-Str. 12-17

D 74653 Künzelsau

Legal form: Ltd partnership with priv. ltd.

company as general partner

Total cap. EUR 300,000,000.00

contribution:

Share: EUR 30,677,512.87

Registered on: 26.08.1963

Reg. data: 70190 Stuttgart, HRA 590261

General partner:

CONMETALL Verwaltungs-GmbH

Hafenstr. 26

D 29223 Celle

Legal form: Private limited company

Share capital: EUR 50,000.00

Registered on: 29.09.2004

Reg. data: 21335 Lüneburg, HRB 101971

Shareholder:

Adolf Würth GmbH & Co. KG

Reinhold-Würth-Str. 12-17

D 74653 Künzelsau

Legal form: Ltd partnership with priv. ltd.

company as general partner

Total cap. EUR 300,000,000.00

contribution:

Share: EUR 50,000.00

Registered on: 26.08.1963

Reg. data: 70190 Stuttgart, HRA 590261

Manager:

Michael Funke

D 29358 Eicklingen

born: 27.09.1963

Profession: Businessman

Proxy:

Harald Rösler

D 29221 Celle