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Report No. : |
356025 |
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Report Date : |
25.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
GEMA SWITZERLAND GMBH |
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|
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Registered Office : |
Mövenstrasse 17 9015 St. Gallen/SG |
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Country : |
Switzerland |
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Financials (as on) : |
26.12.2014 |
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Date of Incorporation : |
1897 |
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Com. Reg. No.: |
320.3.021.491-5 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture and distribution
of apparatus and equipment for electrostatic coating of powder. |
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No. of Employee : |
140 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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|
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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 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 to
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 continue 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 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 from 2011-14.
In recent
years, Switzerland has responded to increasing pressure from neighboring
countries and trading partners to reform its banking secrecy laws, by agreeing
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, and is openly considering the possibility of imposing taxes on
bank deposits held by foreigners.
|
Source
: CIA |
GEMA SWITZERLAND GMBH
Operating address:
Mövenstrasse 17
9015 St. Gallen/SG
Switzerland/CH
Telephone: 071
3138300
Fax: 071
3138383
Web site: http://www.gemapowdercoating.com
E-mail: info@gema.eu.com
WIN Worldbox No.: CH0000046603
VAT-No.: CHE-101.823.789
MWST
UID-No.: CHE101823789
Established: 1897
History: 1897: Established from Gehrig + Mannhard
Line of Business: Machinery
Industry Division: Manufacturing
Industry-code (NACE): 2899 Manufacture of
other special-purpose machinery n.e.c.
Import/Export: Export
Quality certification: ISO 9001:2008
Banks: Credit
Suisse AG, CH-8070 Zürich, SWIFT: CRESCHZZ80A, IBAN: CH82 0483 5011 0617 6100 0
Coverage: Company
Figures: estimated
Financial year: 2015
Employees: 140
Sales: CHF
100-200 Mio
The business
activities includes the manufacture and distribution of apparatus and equipment
for electrostatic coating of powder. Brand: GEMA.
Products:
- Automatic cabin
systems: MagicCylinder EquiFlow, MagicCompact EquiFlow, MagicCompact XXL for
large parts, MagicPlus, Magic Systems for Single-applications, cabins systems
for enamel applications.
- Automatic
equipment and guns: OptiFlex automatic devices, OptiGun automatic gun,
OptiSelect handgun, OptiSpray AP01 application pump, OptiFlow powder injector,
OptiStar, MagicControl, MultiStar gun control.
- Handsets and
pistols: OptiFlex 2Q, OptiFlex 2B, OptiFlex 2F, OptiFlex 2S, OptiFlex 2 Spray,
OptiFlex 2L/C/CF, OptiFlex 2W, OptiColor, Booths, OptiSelect handgun, OptiStar,
Optispray AP01 application pump, Optiflow powder injector.
- ClassicLine
Booths.
- Lifting equipment,
axes and Automation: ZA Vertical, XT Horizontal, YT synchronization,
underground depth adjustment axes, AR rotation, SR inclined axes, OptiMove axis
control, MagicControl.
- Powder management
systems and Hopper: OpiCenter OC01, Opticenter OC03, Opticenter OC04,
Opticenter OC05.
- Powder promotion
systems: Automatic fresh powder feed systems, powder management systems/Hopper,
OptiHopper, OptiFeed pump PP06, Optispray AP01, OptiFlow powder injector,
Optiflow enamel injector.
- Screening
Solutions: PS vibrating screen, rotary screen, ultrasonic sieve.
Areas of use: MDF,
medicine, architecture, contract coating, automobile, machinery industry, metal
furniture, household appliances, enamel, protective coating,
hobby/Garden/Leisure, heating/cooling/plumbing, electronics and coil coating.
The company owns
branches in Germany, Great Britain, Italy, France, USA, Mexico, China, India
and Japan, as well as a global distribution network in over 60 countries.
Real Estate: It
is understood that the company owns certain property.
Company No: 320.3.021.491-5
UID-No.: CHE101823789
Legal form: Limited
Liability Company
Registration: 10.05.1982
Legal status: active
Responsible Register: Handelsregister des Kantons St. Gallen
History: Date
of Statutes: 17.07.2012
Date
of Statutes: 11.04.2012
Date
of Statutes: 02.04.2012
Date
of Statutes: 27.02.2008
Date
of Statutes: 02.08.1995
Date
of Statutes: 24.06.1998
Date
of Statutes: 13.12.1990
Date
of Incorporation Statutes: 07.05.1982
Entry Deleted Name
23.04.2012 Gema
Switzerland GmbH
23.04.2012 Gema
Switzerland Sàrl (Name translated)
23.04.2012 Gema
Switzerland LLC (Name translated)
01.07.1998 Gema Volstatic AG
01.07.1998 Gema Volstatic Ltd (Name translated)
01.07.1998 Gema
Volstatic SA (Name translated)
03.03.2008 23.04.2012 ITW Gema GmbH
03.03.2008 23.04.2012 ITW Gema Sàrl (Name translated)
03.03.2008 23.04.2012 ITW Gema LLC (Name translated)
01.07.1998 03.03.2008 ITW Gema AG
01.07.1998 03.03.2008 ITW Gema SA (Name translated)
01.07.1998 03.03.2008 ITW Gema Ltd (Name translated)
Entry Deleted Legal domicile
04.04.2007 St.
Gallen, Switzerland
Entry Deleted Address
active Mövenstrasse
17, 9015 St. Gallen/SG, Switzerland/CH
Entry Deleted Capital
03.03.2008 LLC
Capital CHF 2,500,000
Entry Deleted Capital Structure
03.03.2008 1
Participation shares of CHF 2,500,000.--
Title Name
General Manager Francis
Joseph Brixius Jr.
Citizen:
United States of America
Residential
address: Plymouth, United States of America
single
signature
Registered
since: 05.01.2015
General Manager Karen
Park Gallivan
Citizen:
United States of America
Residential
address: Edina, United States of America
single
signature
Registered
since: 23.04.2012
General Manager Claudio
Merengo
Citizen:
Italy
Residential
address: Mailand, Italy
single
signature
Registered
since: 29.04.2005
General Manager Christian
Edward Rothe
Citizen:
United States of America
Residential
address: Maple Grove/MN, United States of America
single
signature
Registered
since: 13.08.2015
Chairman of the management Rolf Müller
Citizen:
Ossingen, Switzerland
Residential
address: 9500 Wil /SG, Switzerland
single
signature
Vice-Director Markus
Lenherr
Citizen:
Gams, Switzerland
Residential
address: St. Gallen/SG, Switzerland
joint
signature of two
Member with procuration Georg Christian Ahrendt
Citizen:
Flawil, Switzerland
Residential
address: Nesslau (Nesslau-Krummenau), Switzerland
joint
power of attorney of two
Registered
since: 23.09.2011
Member with procuration Beat Duppenthaler
Citizen:
Melchnau, Switzerland
Residential
address: Gossau/SG, Switzerland
joint
power of attorney of two
Member with procuration Bruno Egger
Citizen:
Eggersriet, Switzerland
Residential
address: Goldach, Switzerland
joint
power of attorney of two
Member with procuration Christian Gföhler
Citizen:
Zell ZH, Switzerland
Residential
address: Elgg, Switzerland
joint
power of attorney of two
Registered
since: 13.12.2010
Member with procuration Felix Mauchele
Citizen:
St. Gallen, Switzerland
Residential
address: Abtwil/SG, Switzerland
joint
power of attorney of two
Member with procuration Karin Schena
Citizen:
Gommiswald, Switzerland
Residential
address: Bischofszell, Switzerland
joint
power of attorney of two
Registered
since: 13.12.2010
Title Name
Auditor Deloitte
AG
Residential
address: Zürich, Switzerland
Title Name
Chief Executive Officer Rolf Müller
Name: Graco
INC
City/Country: Minneapolis,
United States of America/US
No. of owner/-s: 1
Owner: The
company is foreign owned.
Class: 100%
Name: Graco
International Holding
City/Country: Luxembourg,
Capital share: CHF
2,500,000.--
Interest: 100,00%
voting right, 100,00% capital interest (since 23.04.2012)
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 26.12.2014 27.12.2013 28.12.2012 30.12.2011 31.12.2010
Number of months: 12 12 12 12 12
Currency: th.
USD th. USD th. USD th. USD th.
USD
Statement norm: Local
GAAP Local GAAP Local GAAP
Intangible fixed assets 472,448.0 337,907.0 336,292.0 111,518.0 120,078.0
Tangible fixed assets 161,230.0 151,717.0 151,544.0 138,248.0 134,185.0
Financial fixed assets 0.0 0.0
other fixed assets 51,593.0 45,011.0 56,902.0 41,573.0 23,803.0
Fixed assets 685,271.0 534,635.0 544,738.0 291,339.0 278,066.0
Stocks 159,797.0 133,787.0 121,549.0 105,347.0 91,620.0
Trade accounts receivable 214,944.0 183,293.0 171,652.0
Cash & Cash Equivalents 445,423.0 442,053.0 457,933.0 303,150.0 9,591.0
Other current assets 484,766.0 475,513.0 483,795.0
Current assets 859,507.0 792,593.0 776,996.0 582,970.0 252,408.0
Total assets 1,544,778.0 1,327,228.0 1,321,734.0 874,309.0 530,474.0
Capital 59,199.0 61,003.0 60,767.0
Other shareholders funds 536,833.0 573,362.0 393,347.0
Total shareholders equity 596,032.0 634,365.0 454,114.0 322,740.0 264,114.0
Minority interests 0.0 0.0
long term debt (financial debts) 615,000.0 408,370.0 556,480.0 300,000.0 70,255.0
Provisions 136,812.0 94,705.0 137,779.0 120,287.0 76,351.0
Other non current liabilities 159,266.0 115,640.0 159,469.0 0.0 0.0
Non current liabilities 774,266.0 524,010.0 715,949.0 420,287.0 146,606.0
short term debt (financial debts) 5,016.0 9,584.0 8,133.0
Trade accounts payable 39,306.0 34,282.0 28,938.0
other current liabilities 130,158.0 124,987.0 114,600.0
Current liabilities 174,480.0 168,853.0 151,671.0 131,282.0 119,754.0
Shareh. equity, min. int. & liabilities 1,544,778.0 1,327,228.0 1,321,734.0 874,309.0 530,474.0
Net sales 1,221,130.0 1,104,024.0 1,012,456.0 895,283.0 744,065.0
Operating revenue 1,221,130.0 1,104,024.0 1,012,456.0
Cost of goods sold 518,694.0 459,253.0 423,164.0
Gross profit 702,436.0 644,771.0 589,292.0
Other operating expenses 393,511.0 365,002.0 364,615.0
Operating result 308,925.0 279,769.0 224,677.0 218,859.0 152,724.0
Interest expenses 18,733.0 18,147.0 19,273.0
Financial expenses -6,148.0 -9,053.0 7,351.0
Financial result 6,148.0 9,053.0 -7,351.0
Result before extraordinary items 315,073.0 288,822.0 217,326.0
Result before taxes 315,073.0 288,822.0 217,326.0
Taxes 89,500.0 78,000.0 68,200.0
Result before minority interests 225,573.0 210,822.0 149,126.0
Result for the financial year 225,573.0 210,822.0 149,126.0 142,328.0 102,840.0
Depreciation 35,700.0 37,316.0 38,762.0
Cash flow 261,273.0 248,138.0 187,888.0
Research and Development 54,246.0 51,428.0 48,921.0
Working Capital 335,435.0 282,798.0 264,263.0
Net Current Assets 685,027.0 623,740.0 625,325.0 451,688.0 132,654.0
Employees at
year end 3,100 2,700 2,600
It is believed that
the company has no investments.
Balance sheet
publication:
The subject company
does not publish balance sheet or turnover figures.
Control date Year No. Amount CHF Status
30.05.2014 2014 0 Legal
actions
31.12.2013 2013 0 Legal
actions
31.12.2012 2012 0 Legal
actions
31.12.2011 2011 0 Legal
actions
31.12.2010 2010 0 Legal
actions
31.12.2009 2009 0 Legal
actions
31.12.2008 2008 0 Legal
actions
31.12.2007 2007 0 Legal
actions
31.12.2006 2006 0 Legal
actions
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 WorldCompliance 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.
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 appears to be good.
Payment experiences: Payment habits are considered good.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.20 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.41 |
|
USD |
1 |
Rs.66.10 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
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|
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Report Prepared
by : |
ANK |
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.