MIRA INFORM REPORT

Report No. :	317397
Report Date :	20.04.2015

IDENTIFICATION DETAILS

Name :	PRIMEX STEEL TRADING GESELLSCHAFT MIT

Registered Office :	Königsallee 60d D 40212 Düsseldorf

Country :	Germany

Financials (as on) :	31.12.2013

Date of Incorporation :	1974

Com. Reg. No.:	HRB 4510

Legal Form :	Private Limited Company

Line of Business :	Wholesale of iron ores, iron, steel and iron and steel semi-finished goods.

No. of Employees :	34

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 :	Slow but correct

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 and address

PRIMEX STEEL TRADING GESELLSCHAFT MIT

Beschränkter Haftung

Company Status: active

Königsallee 60d

D 40212 Düsseldorf

Telephone: 0211/86684-0

Telefax: 0211/86684-90

Homepage: www.primex-steel.de

E-mail: info@primex-steel.de

VAT no.: DE121305225

Tax ID number: 133/5861/0121

CONCLUSION

Business relations are permissible.

Company Summary

LEGAL FORM Private limited company

Date of foundation: 1974

Shareholders'

agreement: 08.04.1974

Registered on: 22.08.1974

Commercial Register: Local court 40227 Düsseldorf

under: HRB 4510

SHARE CAPITAL

EUR 5,019,240.00

Shareholder

Carl Spaeter Gesellschaft mit beschränkter

Haftung

Philosophenweg 17

D 47051 Duisburg

Post Box:

10 11 63, D 47011 Duisburg

Legal form: Private limited company

Share capital: EUR 30,000,000.00

Share: EUR 2,459,790.00

Registered on: 21.12.1897

Reg. data: 47051 Duisburg, HRB 277

Shareholder:

Carl Spaeter AG

CH Basel

Legal form: Other legal form

Share: EUR 2,375,230.00

Shareholder:

Carl Spaeter Gesellschaft mit beschränkter

Haftung

Vossen Links 13

D 40545 Düsseldorf

Post Box:

11 10 39, D 40510 Düsseldorf

Legal form: Private limited company

Share capital: EUR 6,500,000.00

Share: EUR 184,220.00

Registered on: 22.01.1934

Reg. data: 40227 Düsseldorf, HRB 973

Manager:

Ralf Reintjes

D 47800 Krefeld