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Report No. : |
337443 |
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Report Date : |
19.08.2015 |
IDENTIFICATION DETAILS
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Name : |
SAURER AG |
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Registered Office : |
Bleikenstrasse 11 9630 Wattwil/SG |
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Country : |
Switzerland |
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Date of Incorporation : |
05.03.2013 |
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Com. Reg. No.: |
170.3.037.683-0 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
Manufacture and sale of textile machinery, especially of embroidery
machines and apparatus. |
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No. of Employees : |
180 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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) |
|
Switzerland |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SWITZERLAND - ECONOMIC
OVERVIEW
Switzerland is a peaceful, prosperous, and modern market economy with low unemployment, a highly skilled labor force, and a per capita GDP among the highest in the world. Switzerland's economy benefits from a highly developed service sector, led by financial services, and a manufacturing industry that specializes in high-technology, knowledge-based production. Its economic and political stability, transparent legal system, exceptional infrastructure, efficient capital markets, and low corporate tax rates also make Switzerland one of the world's most competitive economies. The Swiss have brought their economic practices largely into conformity with the EU's to enhance their international competitiveness, but some trade protectionism remains, particularly for its small agricultural sector. The fate of the Swiss economy is tightly linked to that of its neighbors in the euro zone, which purchases half of all Swiss exports. The global financial crisis of 2008 and resulting economic downturn in 2009 stalled demand for Swiss exports, and put Switzerland into a recession. During this period the Swiss National Bank (SNB) implemented a zero-interest rate policy to boost the economy as well as prevent appreciation of the franc, and Switzerland's economy began to recover in 2010. The sovereign debt crises unfolding in neighboring euro-zone countries, however, coupled with ongoing economic instability in Russia and other eastern European economies continues to pose a significant risk to the Swiss economy, driving up demand for the Swiss franc by investors seeking a safe-haven currency. In January of 2015, the SNB abandoned the Swiss franc’s peg to the Euro, roiling global currency markets and making active SNB intervention a necessary hallmark of present-day Swiss monetary policy. The independent SNB has upheld its zero-interest rate policy and conducted major market interventions to prevent further appreciation of the Swiss franc, but parliamentarians have urged it to do more to weaken the currency. The franc's strength has made Swiss exports less competitive and weakened the country's growth outlook; GDP growth fell below 2% per year during 2011-13. In recent years, Switzerland has responded to increasing pressure from neighboring countries and trading partners, including the EU, the US, and international institutions to reform its banking secrecy laws. In response to that international pressure, the Swiss government has agreed to conform to OECD regulations on administrative assistance in tax matters, including tax evasion. The Swiss government has also renegotiated its double taxation agreements with numerous countries, including the US, to incorporate OECD standards, while openly considering the possibility of imposing taxes on bank deposits held by foreigners.
|
Source
: CIA |
SAURER AG
Operating address:
Bleikenstrasse 11
9630 Wattwil/SG
Switzerland/CH
Telephone: 071
9874444
Fax: 071
9874356
Web
site: http://www.saurer.com
E-mail: info@saurer.com
WIN
Worldbox No.: CH0009743927
VAT-No.: CHE-446.278.269 MWST
UID-No.: CHE213608293
Established: 1853
Line
of Business: Machinery
Industry
Division: Manufacturing
Industry-code (NACE): 2894 Manufacture of machinery for textile,
apparel and leather production
Import/Export: Import, Export
Banks: unknown
Coverage: Company
Figures: estimated
Financial
year: 2015
Employees: 180
Sales: CHF 54,000,000.--
Branches: 1
The business activities includes the manufacture
and sale of textile machinery, especially of embroidery machines and apparatus.
Products: roving frame, ring spinning, rotor spinning, winding, twisting,
embroidery machines.
Business units and brands:
Spinning: Saurer Schlafhorst, Saurer Zinser
Twisting: Saurer Allma, Saurer Volkmann
Pre-Spinning: Saurer Jinsheng
Embroidery: Saurer Embroidery
Components: Saurer Accotex, Saurer
Heberlein, Saurer Daytex, Saurer Temco, Saurer Fibrevision, Saurer Texparts
Real
Estate: It is understood
that the company owns certain property.
Company
No: 170.3.037.683-0
UID-No.: CHE213608293
Legal
form: Company limited by
shares
Registration: 06.03.2013
Legal
status: active
Responsible
Register: Handelsregister des Kantons St.
Gallen
History: Date of Statutes:
28.06.2013
Date of
Statutes: 14.05.2013
Date of
Incorporation Statutes: 05.03.2013
Entry Deleted Name
12.07.2013 SAURER
AG
12.07.2013 SAURER
SA (Name translated)
12.07.2013 SAURER
Inc. (Name translated)
06.03.2013 12.07.2013 S-Textile Swiss AG
06.03.2013 12.07.2013 S-Textile Swiss Ltd. (Name translated)
06.03.2013 12.07.2013 S-Textile Swiss SA (Name translated)
Entry Deleted Legal domicile
17.05.2013 Wattwil,
Switzerland
06.03.2013 17.05.2013 Baar, Switzerland
Entry Deleted Address
17.05.2013 Bleikenstrasse
11, 9630 Wattwil/SG, Switzerland/CH
06.03.2013 17.05.2013 Oberneuhofstrasse 6, 6340 Baar/ZG,
Switzerland/CH
Entry Deleted Capital
06.03.2013 Share
Capital CHF 1,000,000, paidup CHF 1,000,000
Entry Deleted Capital Structure
24.05.2013 1,000,000
Registered shares of CHF 1.--
Entry Deleted Branches
18.06.2013 Textilstrasse
2, 9320 Arbon/TG, Switzerland/CH
Title Name
President Daniel
Christian Lippuner
Citizen:
Grabs, Switzerland
Residential
address: Altendorf, Switzerland
joint
signature of two
Registered
since: 30.08.2013
Vice-President Zhengping Zeng
Citizen:
Germany
Residential
address: Shanghai, China
joint
signature of two
Registered
since: 30.09.2013
Title Name
Member
with signing authority Ivan Cunha
Lima
Citizen:
Zofingen, Switzerland
Residential
address: Wil/SG, Switzerland
joint
signature of two
Registered
since: 14.02.2014
Member
with signing authority Arndt Hamann
Citizen:
Germany
Residential
address: Mönchengladbach, Germany
joint
signature of two
Registered
since: 11.03.2014
Member
with signing authority Stefan
Himmelberger
Citizen:
Schwellbrunn, Switzerland
Residential
address: Wilen bei Wil (Wilen)/TG, Switzerland
joint
signature of two
Registered
since: 30.09.2013
Member
with signing authority Klaus Lorenz
Citizen:
Germany
Residential
address: Wattwil/SG, Switzerland
joint
signature of two
Registered
since: 12.06.2014
Member
with signing authority Martin Meier
Citizen:
Oberägeri, Switzerland
Residential
address: Wiesendangen, Switzerland
joint
signature of two
Registered
since: 18.03.2015
Member
with signing authority Christiane
Worms
Citizen:
Germany
Residential
address: Mönchengladbach, Germany
joint
signature of two
Registered
since: 30.09.2013
Title Name
Auditor PricewaterhouseCoopers
AG
Residential
address: St. Gallen, Switzerland
Id:
CHE-364.598.872
Registered
since: 09.12.2013
Name: Jiangsu Jinsheng
Industry Co., Ltd.
City/Country: Jintan, China/CN
No.
of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Type: indirect, Group-Level
1
Name: Jiangsu Jinsheng
Industry Co., Ltd.
City/Country: Jintan, China/CN
Interest: 100,00% voting right, 100,00%
capital interest (since 03.07.2013)
Class: 100%
Type: indirect, Group-Level
2
Name: Saurer Hong Kong
Machinery Company Limited
City/Country: Central, Hong Kong/HK
Interest: 100,00% voting right,
100,00% capital interest (since 03.07.2013)
Class: 100%
Type: indirect, Group-Level
3
Name: Saurer Netherlands
Machinery Company B.V.
City/Country: Amsterdam, Netherlands/NL
Interest: 100,00% voting right,
100,00% capital interest (since 03.07.2013)
Class: 100%
Type: direct
Name: Aktiengesellschaft
Adolph Saurer
City/Country: Arbon/TG, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest (since 06.03.2013)
It is believed that the company has no
investments.
Balance sheet publication:
The subject company does not publish balance
sheet or turnover figures.
Official bankruptcy reports:
No bankruptcy publications available on the
subject.
An updated legal action check is only
available against proof of interest. e.g. a copy of an enquiry letter, and
order or invoice relating to the subject company.
The company is not listed in the World
Compliance database.
Payment experiences from pre-legal
collection cases:
No payment experiences from pre-legal
collection cases are available.
Payment experiences from collection cases:
No payment experiences from legal collection
cases are available.
Mode of payment / Business conduct:
There are no complaints about the mode of payment
and the business conduct.
Note: The VAT number - CHE-446.278.269 MWST
- is the Group VAT number.
Financial
Statements: The company does not
disclose any financial statements. Third parties are not permitted any insight
into the financial affairs. It is therefore difficult to make a proper
assessment of the actual situation.
Financial
Situation: The financial situation
is difficult to assess.
Payment
experiences: There are no objections
regarding the payment of financial obligations.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.22 |
|
|
1 |
Rs.102.23 |
|
Euro |
1 |
Rs.72.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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 |
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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 |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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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 |
|
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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|
-- |
NB |
New Business |
-- |
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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.