MIRA INFORM REPORT

 

 

Report No. :

318294

Report Date :

23.04.2015

 

IDENTIFICATION DETAILS

 

Name :

THIES GMBH & CO. KG

 

 

Registered Office :

Borkener Str. 155, Am Weißen Kreuz, D 48653 Coesfeld, Germany

 

 

Country :

Germany

 

 

Date of Incorporation :

01.01.1892

 

 

Com. Reg. No.:

HRA 1069

 

 

Legal Form :

Ltd partnership with priv. ltd. company as general partner

 

 

Line of Business :

Manufacture of Machinery for Textile, Apparel and Leather Production.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

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

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, 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

 

THIES GMBH & CO. KG

 

 Company Status:      active

                      Borkener Str. 155

                      Am Weißen Kreuz

                      D 48653 Coesfeld

                      Telephone:02541/7330

                      Telefax:  02541/733299

                      Homepage: www.thiestextilmaschinen.de

                      E-mail:   info@thiestextilmaschinen.de

 

 Trade name:                 Textilmaschinen Thies

 

 VAT no.:                      DE124464179

 

 

CONCLUSION

 

Business relations are permissible.

 

 

Company Summary

 

 LEGAL FORM              Ltd partnership with priv. ltd. company as general partner

 Date of foundation:      01.01.1892

 Registered on:             01.10.1922

 Register of

 companies:                  Local court 48653 Coesfeld

 under:                          HRA 1069

 

 

Total cap. contribution              

 

EUR                             2,600,000.00

 

 Limited partner:

                      Erich Thies

                      D 48653 Coesfeld

                      born: 08.08.1953

                      Share:             EUR          1,300,000.00

 Limited partner:

                      Klaus Thies

                      Bergstr. 12

                      D 48653 Coesfeld

                      born: 02.03.1958 in Coesfeld

                      Share:             EUR          1,300,000.00

 General partner:

                      Thies Verwaltungs-GmbH

                      Borkener Str. 155

                      D 48653 Coesfeld

                      Legal form: Private limited company

                      Share capital:     EUR         12,800,000.00

                      Registered on: 07.08.1957

                      Reg. data: 48653 Coesfeld, HRB 1010

 

 Shareholder:

                      Thies GmbH & Co. KG

                      Borkener Str. 155

                      Am Weißen Kreuz

                      D 48653 Coesfeld

                      Legal form: Ltd partnership with priv. ltd.

                      company as general partner

                      Total cap.         EUR          2,600,000.00

                      contribution:

                      Share:             EUR         12,800,000.00

                      Registered on: 01.10.1922

                      Reg. data: 48653 Coesfeld, HRA 1069

 Manager:

                      Jürgen Brockmann

                      Forellenweg 24

                      D 48653 Coesfeld

                      authorized to jointly represent the company

                      born: 11.03.1953

                      Profession: Businessman

                      Marital status: married

 Manager:

                      Christiane Thies

                      D 48653 Coesfeld

                      having sole power of representation

                      born: 12.09.1988

 Manager:

                      Verena Thies

                      D 48653 Coesfeld

                      having sole power of representation

                      born: 16.06.1985

 Manager:

                      Alexander Thies

                      D 48653 Coesfeld

                      having sole power of representation

                      born: 13.11.1986

 Proxy:

                      Bernhard Pöpping

                      D 48653 Coesfeld

                      authorized to jointly represent the company

                      born: 16.06.1952

                      Profession: Businessman

 Proxy:

                      Peter van der Most

                      D 46325 Borken

                      authorized to jointly represent the company

                      born: 01.03.1968

 

 

BUSINESS ACTIVITIES

 

 Main industrial sector

 2894    Manufacture of machinery for textile, apparel and leather production

 

 

PARTICIPATIONS

 

Shareholder:

                      Thies Verwaltungs-GmbH

                      Borkener Str. 155

                      D 48653 Coesfeld

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR         12,800,000.00

                      Share:             EUR         12,800,000.00

                      Reg. data:  07.08.1957

                                  Local court 48653 Coesfeld

                                  HRB 1010

 

 

FINANCIAL INFORMATION

 

 Payment experience:  within agreed terms

 

 Negative information:We have no negative information at hand.

 

 

REAL ESTATE

 

 Type of ownership:       Proprietor

 Share:                          100.00 %

 Address                       Borkener Str. 155 Am Weißen Kreuz

                                    D 48653 Coesfeld

 Type of real estate:      Factory building

 Size:                            78,500.00 sq.m

 Value at selling price:                 EUR          6,400,000.00

 

 Type of ownership:       Proprietor

 Share:                          100.00 %

 Address                       Lindenallee 5

                                    D 48653 Coesfeld

 Type of real estate:      Commercial building

 

 Real Estate of:             Thies Verwaltungs-GmbH

 Type of ownership:       Tenant

 Address                       Borkener Str. 155

                                    D 48653 Coesfeld

 

 Land register documents were not available.

 

 

BANKERS

 

 Principal bank

 DEUTSCHE BANK, 48136 MÜNSTER, WESTF

 Sort. code: 40070080

 BIC: DEUTDE3B400

 

 Further banks

 COMMERZBANK, 48632 COESFELD

 Sort. code: 40040028

 BIC: COBADEFFXXX

 COMMERZBANK VORMALS DRESDNER BANK, 48135 MÜNSTER, WESTF

 Sort. code: 40080040

 BIC: DRESDEFF400

 UNICREDIT BANK - HYPOVEREINSBANK, 33505 BIELEFELD

 Sort. code: 48020086

 BIC: HYVEDEMM344

 

               

 FINANCIAL FIGURES

 

 Financial year:                                      01.01. - 31.12.

 Real estate of the firm:                EUR          6,400,000.00

 The number of employees is not known.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.82

UK Pound

1

Rs.93.85

Euro

1

Rs.67.59

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

NIT

 

               

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.