|
Report No. : |
334391 |
|
Report Date : |
01.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
SACHTLEBEN
CHEMIE GESELLSCHAFT MIT BESCHRÄNKTER HAFTUNG |
|
|
|
|
Registered Office : |
Dr.-Rudolf-Sachtleben-Str. 4 D 47198 Duisburg |
|
|
|
|
Country : |
Germany |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
12.11.2003 |
|
|
|
|
Com. Reg. No.: |
HRB 19669 |
|
|
|
|
Legal Form : |
Private limited company |
|
|
|
|
Line of Business : |
·
Manufacture
of other fabricated metal products ·
Wholesale
of chemical products ·
Wholesale
of iron ores, iron, steel and iron and steel semi-finished goods |
|
|
|
|
No. of Employees : |
1,093 |
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 : |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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 5.2% 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. The German economy suffers
from low levels of investment, and a government plan to invest 15 billion euros
2016-18, largely in infrastructure, is intended to spur needed private
investment. 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 accounted
for 27.8% of gross electricity consumption in 2014, 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. Extremely low inflation, caused largely by low global energy prices
and a weak euro, are expected to boost German GDP growth in 2015.
|
Source
: CIA |
SACHTLEBEN CHEMIE GESELLSCHAFT MIT
BESCHRÄNKTER HAFTUNG
Dr.-Rudolf-Sachtleben-Str.
4
D 47198
Duisburg
Telephone:02066/22-0
Telefax: 02066/222000
Homepage:
www.sachtleben.de
E-mail: info@sachtleben.de
Active
DE814031123
134/5780/0439
Business relations are permissible.
LEGAL FORM Private
limited company
Date of foundation: 12.11.2003
Shareholders'
agreement: 12.11.2003
Registered on: 11.10.2007
Commercial Register: Local court 47051 Duisburg
under: HRB
19669
Share capital: EUR 26,000,000.00
Shareholder:
Huntsman (Holdings)
Germany GmbH
Land-Au 30
D 94469 Deggendorf
Legal form: Private
limited company
Share capital: EUR 25,000.00
Share: EUR 26,000,000.00
Registered on: 02.06.2006
Reg. data: 94469
Deggendorf, HRB 2905
Manager:
Michael Christopher Dixon
GB Northallerton
born: 12.07.1968
Nationality: British
Manager:
Dr. Jörg Eraßme
D 52066 Aachen
born: 26.10.1954
Manager:
Justin Phillipson
SGP Singapur
born: 10.10.1968
Nationality: Singaporean
Manager:
Simon Turner
GB Osmotherley
born: 11.09.1963
Nationality: British
Manager:
John Hussa
B Vilvoorde
born: 08.05.1960
Nationality: Belgian
Proxy:
Dr. Jörn-Cristoph
Schmidt-Reinhold
D 53117 Bonn
authorized to jointly
represent the company
born: 15.07.1964
Proxy:
Wilhelm Thygs
D 47799 Krefeld
authorized to jointly
represent the company
born: 09.10.1953
Proxy:
Wolfgang Itner
Blumenstr. 4
D 47929 Grefrath
authorized to jointly
represent the company
born: 06.12.1957
Marital status: married
Proxy:
Ulrich Gerhard Hallmann
Sandrastr. 22
D 46537 Dinslaken
authorized to jointly
represent the company
born: 04.01.1960
Proxy:
Manfred Berger
D 50670 Köln
authorized to jointly represent
the company
born: 08.05.1957
Proxy:
Klaus Pomaska
D 63165 Mühlheim
authorized to jointly
represent the company
born: 01.09.1966
Proxy:
Ulrich Pannek
D 44787 Bochum
authorized to jointly
represent the company
born: 04.02.1967
Proxy:
Marcel Barby
B Herent
authorized to jointly
represent the company
born: 21.03.1974
Nationality: Belgian
Proxy:
Heike Treffer
D 80331 München
authorized to jointly
represent the company
born: 30.03.1967
Further functions/participations of Michael
Christopher Dixon
(Manager)
Manager:
Sachtleben Wasserchemie
GmbH
Zeppelinstr. 23
D 49479 Ibbenbüren
Legal form: Private
limited company
Share capital: EUR 281,210.53
Registered
on: 31.08.1988
Reg. data:
48565 Steinfurt, HRB 5332
Manager:
Huntsman International
Trading Deutschland
GmbH
Baumwall 5
D 20459 Hamburg
Legal form: Private limited
company dormant
Share capital: EUR 153,387.56
Registered
on: 31.01.1989
Reg. data: 20355 Hamburg, HRB 41276
Manager:
HUNTSMAN Verwaltungs GmbH
Baumwall 5
D 20459 Hamburg
Legal form: Private
limited company
Share capital: EUR 25,564.59
Registered
on: 12.06.1997
Reg. data: 20355 Hamburg, HRB 64570
Manager:
Huntsman Pigments Holding
GmbH
Mühlstr. 118
D 65396 Walluf
Legal form: Private limited company
Share capital: EUR 26,000.00
Registered
on: 15.07.2003
Reg. data: 65189 Wiesbaden, HRB 17837
Manager:
Sasol-Huntsman
Verwaltungs GmbH
Römerstr. 733
D 47443 Moers
Legal form: Private
limited company
Share capital: EUR 25,564.60
Registered
on: 23.09.1997
Reg. data: 47533 Kleve, HRB 5686
Manager:
Sachtleben Wasserchemie
(Holding) GmbH
Dr.-Rudolf-Sachtleben-Str. 4
D 47198 Duisburg
Legal form: Private
limited company
Share capital: EUR 330,000.00
Registered
on: 23.07.2007
Reg. data: 60313 Frankfurt, HRB 80726
Manager:
Huntsman (Holdings)
Germany GmbH
Land-Au 30
D 94469 Deggendorf
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 02.06.2006
Reg. data: 94469 Deggendorf, HRB 2905
Manager:
Sachtleben Pigment GmbH
Rheinuferstr. 7-9
D 47829 Krefeld
Legal form: Private
limited company
Share capital: EUR
10,000,000.00
Registered
on: 20.08.2012
Reg. data: 47051 Duisburg, HRB 24751
Manager:
Silo Pigmente GmbH
Mühlstr. 118
D 65396 Walluf
Legal form: Private
limited company
Share capital: EUR 26,000.00
Registered
on: 12.03.2001
Reg. data: 65189 Wiesbaden, HRB 17832
Further functions/participations of Dr. Jörg Eraßme
(Manager)
Manager:
PIGMENT-CHEMIE
Gesellschaft mit beschränkter
Haftung
Dr.-Rudolf-Sachtleben-Str. 4
D 47198 Duisburg
Legal form: Private limited
company
Share capital: EUR 51,129.19
Registered
on: 20.03.1996
Reg. data: 47051 Duisburg, HRB 7018
Further functions/participations of Justin
Phillipson (Manager)
Manager:
Sachtleben Wasserchemie
GmbH
Zeppelinstr. 23
D 49479 Ibbenbüren
Legal form: Private
limited company
Share capital: EUR 281,210.53
Registered
on: 31.08.1988
Reg. data: 48565 Steinfurt, HRB 5332
Manager:
Silo Pigmente GmbH
Mühlstr. 118
D 65396 Walluf
Legal form: Private
limited company
Share capital: EUR 26,000.00
Registered
on: 12.03.2001
Reg. data: 65189 Wiesbaden, HRB 17832
Manager:
Huntsman Pigments Holding
GmbH
Mühlstr. 118
D 65396 Walluf
Legal form: Private
limited company
Share capital: EUR 26,000.00
Registered
on: 15.07.2003
Reg. data: 65189 Wiesbaden, HRB 17837
Manager:
Sachtleben Wasserchemie
(Holding) GmbH
Dr.-Rudolf-Sachtleben-Str. 4
D 47198 Duisburg
Legal form: Private
limited company
Share capital: EUR 330,000.00
Registered
on: 23.07.2007
Reg. data: 60313 Frankfurt, HRB 80726
Manager:
Huntsman (Holdings)
Germany GmbH
Land-Au 30
D 94469 Deggendorf
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 02.06.2006
Reg. data: 94469 Deggendorf, HRB 2905
Manager:
Sachtleben Pigment GmbH
Rheinuferstr. 7-9
D 47829 Krefeld
Legal form: Private
limited company
Share capital: EUR
10,000,000.00
Registered
on: 20.08.2012
Reg. data: 47051 Duisburg, HRB 24751
Further functions/participations of Simon
Turner (Manager)
Manager:
Sachtleben Wasserchemie
GmbH
Zeppelinstr. 23
D 49479 Ibbenbüren
Legal form: Private
limited company
Share capital: EUR 281,210.53
Registered
on: 31.08.1988
Reg. data: 48565 Steinfurt, HRB 5332
Manager:
Huntsman Pigments Holding
GmbH
Mühlstr. 118
D 65396 Walluf
Legal form: Private limited company
Share capital: EUR 26,000.00
Registered
on: 15.07.2003
Reg. data: 65189 Wiesbaden, HRB 17837
Manager:
Sachtleben Wasserchemie
(Holding) GmbH
Dr.-Rudolf-Sachtleben-Str. 4
D 47198 Duisburg
Legal form: Private
limited company
Share capital: EUR
330,000.00
Registered
on: 23.07.2007
Reg. data: 60313 Frankfurt, HRB 80726
Manager:
Huntsman (Holdings)
Germany GmbH
Land-Au 30
D 94469 Deggendorf
Legal form: Private
limited company
Share capital: EUR 25,000.00
Registered
on: 02.06.2006
Reg. data: 94469 Deggendorf, HRB 2905
Manager:
Sachtleben Pigment GmbH
Rheinuferstr. 7-9
D 47829 Krefeld
Legal form: Private
limited company
Share capital: EUR
10,000,000.00
Registered
on: 20.08.2012
Reg. data: 47051 Duisburg, HRB 24751
Manager:
Silo Pigmente GmbH
Mühlstr. 118
D 65396 Walluf
Legal form: Private
limited company
Share capital: EUR 26,000.00
Registered
on: 12.03.2001
Reg. data: 65189 Wiesbaden, HRB 17832
Further functions/participations of John Hussa
(Manager)
Manager:
Sachtleben Pigment GmbH
Rheinuferstr. 7-9
D 47829 Krefeld
Legal form: Private
limited company
Share capital: EUR
10,000,000.00
Registered
on: 20.08.2012
Reg. data: 47051 Duisburg, HRB 24751
12.11.2003 - 29.11.2004 Deukalion
Zweiundzwanzigste
Vermögensverwaltungs-GmbH
Mainzer Landstr. 46
D
60325 Frankfurt
Private limited company
29.11.2004 - 15.06.2005 Knight
Dritte Beteiligungs GmbH
Mainzer
Landstr. 46
D 60325
Frankfurt
Private
limited company
15.06.2005 - 19.09.2007 Rockwood
Specialties Group Sachtleben
GmbH
Mainzer Landstr. 46
D
60325 Frankfurt
Private
limited company
19.09.2007 - 11.10.2007 Sachtleben
Chemie Gesellschaft mit
beschränkter Haftung
Mainzer Landstr. 46
D
60325 Frankfurt
Private limited company
17.09.2013 - 20.10.2014 Manager
Andrew Martin Ross
USA Washington DC
13.09.2010 - 20.10.2014 Manager
Juha Mika Antero
Mäkinen
SF - Vantaa
30.09.2008 - 20.10.2014 Manager
Dr. Andreas Grünewald
D 53721 Siegburg
19.10.2010 - 06.09.2013 Manager
Vernon Stuart Sumner
D 40210 Düsseldorf
Main
industrial sector
2599 Manufacture of other fabricated metal
products n.e.c.
32990 Other manufacturing n.e.c.
4675 Wholesale of chemical products
Secondary industrial sector
46721
Wholesale of iron ores, iron, steel and iron and steel semi-finished
goods
Branch:
Sachtleben Chemie
Gesellschaft mit
beschränkter Haftung
Osterfelder Str. 5
D 46047 Oberhausen
Limited partner:
Deutsche Baryt-Industrie
Dr. Rudolf Alberti
GmbH & Co. KG
Bahnhofstr. 21-39
D 37431 Bad Lauterberg
Legal form: Ltd partnership
with priv. ltd.
company as
general partner
Company Status: active
Total cap. EUR 2,304,000.00
contribution:
Share: EUR 576,000.00
Reg. data: 29.11.1954
Local court
37073 Göttingen
HRA 121227
Shareholder:
Sachtleben Pigment GmbH
Rheinuferstr. 7-9
D 47829 Krefeld
Legal form: Private
limited company
Company Status: active
Share capital: EUR
10,000,000.00
Share: EUR 10,000,000.00
Reg. data: 20.08.2012
Local court
47051 Duisburg
HRB 24751
Payment
experience: cash discount/within agreed
terms
Negative information:We have no negative
information at hand.
The
maximum credit is our recommendation for the maximum credit limit for the
inquired company.
Balance sheet year: 2013
Type of ownership: Tenant
Address Dr.-Rudolf-Sachtleben-Str. 4
D 47198 Duisburg
Land register documents were not available.
COMMERZBANK, 47002 DUISBURG
Sort. code: 35040038
BIC: COBADEFFXXX
DEUTSCHE BANK, 47003 DUISBURG
Sort. code: 35070030
BIC: DEUTDEDE350
SPARKASSE DUISBURG, 47015 DUISBURG
Sort. code: 35050000
BIC: DUISDE33XXX
Turnover: 2013 EUR 798,392,369.00
Profit: 2013 EUR -73,442,267.00
Equipment: EUR 4,976,115.00
Ac/ts receivable: EUR 232,205,404.00
Liabilities: EUR 111,117,883.00
Employees:
1,093
Balance sheet ratios 01.01.2013 - 31.12.2013
Equity ratio [%]: 61.40
Liquidity ratio: 1.00
Return on total capital [%]: -16.0
Equity ratio
The equity ratio indicates the portion of the
equity as compared to the total capital. The higher the equity ratio, the
better the economic stability (solvency) and thus the financial autonomy of a
company.
Liquidity ratio
The liquidity ratio shows the proportion
between adjusted receivables and net liabilities. The higher the ratio, the
lower the company's financial dependancy from external creditors.
Return on total capital
The return on total capital shows the
efficiency and return on the total capital employed in the company. The higher
the return on total capital, the more economically does the company work with
the invested capital.
Type of balance
sheet: Company
balance sheet
Financial year: 01.01.2013 - 31.12.2013
ASSETS EUR 618,975,388.82
Fixed assets
EUR 281,610,830.96
Intangible assets
EUR 93,250,185.00
Concessions, licences, rights
EUR 46,229,348.00
Goodwill
EUR 47,020,837.00
Tangible assets
EUR 187,396,817.86
Land / similar rights
EUR 53,750,935.55
Plant / machinery
EUR 99,166,798.00
Other tangible assets / fixtures and
fittings
EUR 4,976,114.51
Advance payments made / construction
in progress EUR 29,502,969.80
Financial assets
EUR 963,828.10
Shares in participations /
subsidiaries and the like
EUR 938,623.14
Shares in related companies
EUR 349,759.23
Shares in investee companies
EUR 588,863.91
Other loans
EUR 25,204.96
Current assets
EUR 337,172,360.35
Stocks
EUR 103,958,886.01
Raw materials, consumables and
supplies
EUR 31,424,907.80
Finished goods / work in progress
EUR 71,510,768.84
Advance payments made
EUR 1,023,209.37
Accounts receivable
EUR 232,205,404.27
Trade debtors
EUR 94,420,275.92
Amounts due from related companies
EUR 122,703,514.65
Other debtors and assets
EUR 15,081,613.70
Liquid means
EUR 1,008,070.07
Remaining other assets
EUR 192,197.51
Accruals (assets)
EUR 192,197.51
LIABILITIES EUR 618,975,388.82
Shareholders' equity
EUR 445,213,984.33
Capital
EUR 25,600,000.00
Subscribed capital (share capital)
EUR 25,600,000.00
Reserves EUR 419,613,984.33
Capital reserves
EUR 418,302,677.33
Retained earnings / revenue reserves EUR 1,311,307.00
Provisions
EUR 62,643,521.99
Pension provisions and comparable
provisions
EUR 47,852,672.00
Other / unspecified provisions
EUR 14,790,849.99
Liabilities
EUR 111,117,882.50
Other liabilities EUR
111,117,882.50
Trade creditors (for IAS incl. bills
of exchange)
EUR 30,184,711.32
Liabililties due to related companiesEUR 78,756,363.71
Unspecified other liabilities
EUR 2,176,807.47
thereof liabilities from tax /
financial authorities
EUR 844,095.34
thereof liabilities from social
security
EUR 209,584.80
PROFIT AND LOSS ACCOUNT (cost-summary method)
according to Comm.
Code (HGB)
Sales
EUR 798,392,368.58
Inventory change + own costs (+/-)
EUR -18,470,989.24
Inventory change (+/-)
EUR -20,630,717.09
Capitalised own costs
EUR 2,159,727.85
Other operating income
EUR 15,614,274.46
Cost of materials
EUR 593,686,721.59
Raw materials and supplies, purchased
goods EUR 589,580,500.92
Purchased services
EUR 4,106,220.67
Gross result (+/-)
EUR 201,848,932.21
Staff expenses
EUR 75,275,397.85
Wages and salaries
EUR 61,640,115.95
Social security contributions and
expenses for pension plans and
benefits
EUR 13,635,281.90
Total depreciation
EUR 41,809,712.73
Depreciation on tangible / intangible
asssets (incl. start-up and exp. of
bus.
EUR 41,809,712.73
Other operating expenses
EUR 98,030,144.02
Operating result from continuing
operations
EUR -13,266,322.39
Result from participating interests
(+/-)
EUR 602,359.50
Expenses / income from participations EUR 602,359.50
Income from related companies
EUR 602,359.50
Interest result (+/-)
EUR -7,037,205.12
Interest and similar income
EUR 127,713.91
thereof from related companies
EUR 114,989.19
Interest and similar expenses
EUR 7,164,919.03
thereof paid to related companies
EUR 297,132.11
Other financial result
EUR -52,662,317.30
Income from securities and loans from
financial assets
EUR 2,337,682.70
thereof related companies
EUR 2,335,956.95
Depreciation on financial assets and
marketable securities
EUR 55,000,000.00
Financial result (+/-) EUR -59,097,162.92
Result from ordinary operations (+/-)
EUR -72,363,485.31
Extraordinary expenses
EUR 1,049,608.00
Extraordinary result (+/-)
EUR -1,049,608.00
Income from assumption of loss by
parent company
EUR 73,442,267.40
Income tax / refund of income tax (+/-)EUR -29,174.09
Tax (+/-)
EUR -29,174.09
Annual surplus / annual deficit EUR 0.00
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.01 |
|
|
1 |
Rs.99.84 |
|
Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SDA |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.