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Report No. : |
308593 |
|
Report Date : |
24.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
ASHLAND INDUSTRIES EUROPE GMBH |
|
|
|
|
Registered Office : |
Rheinweg 11, Euro Haus, 8200 Schaffhausen/SH, Switzerland/CH |
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|
|
|
Country : |
Switzerland
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|
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|
|
Financials (as on) : |
30.09.2014 |
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|
|
Date of Incorporation : |
01.04.2005 |
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|
|
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Com. Reg. No.: |
290.4.015.069-9 / 787892 |
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|
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Legal Form : |
Limited Liability Company |
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|
|
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Line of Business : |
The business activities incldues sales of chemical specialties globally used in making a variety of products for home, office, and industrial markets. |
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No. of Employees : |
37 |
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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
-- |
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) |
|
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
export demand and put Switzerland in a recession. The Swiss National Bank (SNB)
during this period effectively 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 currently unfolding
in neighboring euro-zone countries pose a significant risk to Switzerland's
financial stability and are driving up demand for the Swiss franc by investors
seeking a safe-haven currency. 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. Switzerland has also come under increasing pressure
from individual neighboring countries, the EU, the US, and international
institutions to reform its banking secrecy laws. Consequently, the government
agreed to conform to OECD regulations on administrative assistance in tax
matters, including tax evasion. The government has renegotiated its double
taxation agreements with numerous countries, including the US, to incorporate
the OECD standard, and is considering the possibility of imposing taxes on bank
deposits held by foreigners. These steps will have a lasting impact on
Switzerland's long history of bank secrecy.
|
Source
: CIA |
ASHLAND INDUSTRIES
EUROPE GMBH
Rheinweg 11
Euro Haus
8200
Schaffhausen/SH
Switzerland/CH
Telephone: 052
5605600
Fax: 052
5605599
Web
site: http://www.ashland.com
E-mail: info@ashland.com
WIN
Worldbox No.: CH0006642867
VAT-No.: CHE-112.297.540 MWST
UID-No.: CHE112297540
Established: 2005
Line
of Business: Consumer goods
wholesale
Industry
Division: Wholesale trade
Industry-code (NACE): 4675 Wholesale of chemical products
Import/Export: Import, Export
Banks: unknown
Coverage: Company
Figures: estimated
Financial
year: 2015
Employees: 37
Sales: CHF 20-40 Mio
The business activities incldues sales of chemical specialties globally used in making a variety of products for home, office, and industrial markets.
Real
Estate: The company does
not appear to own any property.
Company
No: 290.4.015.069-9 / 787892
Legal
form: Limited Liability
Company
Registration: 01.04.2005
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Schaffhausen
History: Date of Statutes:
18.03.2010
Date of
Statutes: 20.10.2008
Date of
Statutes: 27.06.2005
Date of
Incorporation Statutes: 30.03.2005
01.04.2010 Ashland
Industries Europe GmbH
01.04.2010 Ashland
Industries Europe S.à r.l. (Name translated)
01.04.2010 Ashland
Industries Europe Ltd liab. Co (Name translated)
01.04.2005 01.04.2010 Hercules International GmbH
01.04.2005 01.04.2010 Hercules International S.à.r.l. (Name
translated)
01.04.2005 01.04.2010 Hercules International Ltd liab. Co (Name
translated)
30.06.2005 Neuhausen
am Rheinfall, Switzerland
01.04.2005 30.06.2005 Schaffhausen, Switzerland
30.06.2005 Rheinweg
11, 8200 Schaffhausen/SH, Switzerland/CH
01.04.2005 30.06.2005 BDS Consulting AG, Vordergasse 3, 8200
Schaffhausen, Switzerland/CH
01.04.2005 LLC
Capital CHF 2,000,000
22.04.2013 2,000
Participation shares of CHF 1,000.--
16.04.2013 22.04.2013 2,000 Participation shares of CHF 1,000.--
29.10.2012 16.04.2013 2,000 Participation shares of CHF 1,000.--
07.07.2010 29.10.2012 2,000 Participation shares of CHF 1,000.--
Title Name
General
Manager Frank
Jacob Adriaan Jumelet
Citizen:
Netherlands
Residential
address: Zierikzee, Netherlands
joint
signature of two
Registered
since: 09.04.2013
General
Manager Johan
Muylaert
Citizen:
Belgium
Residential
address: Neuhausen am Rheinfall, Switzerland
joint
signature of two
Registered
since: 20.08.2009
General
Manager Michael S.
Roe
Citizen:
United States of America
Residential
address: Covington/KY, United States of America
joint
signature of two
Registered
since: 09.04.2013
General
Manager Christiaan
Tecuatl Bremer
Citizen:
Netherlands
Residential
address: Neuhausen am Rheinfall, Switzerland
single
signature
Registered
since: 11.05.2012
Chairman
of the management Paola Raccuia
Bolderman
Citizen:
Netherlands
Residential
address: Neuhausen am Rheinfall, Switzerland
single
signature
Registered
since: 08.07.2008
Member
with procuration Peter Köhne
Citizen:
Germany
Residential
address: Zürich, Switzerland
joint
power of attorney of two
Registered
since: 13.08.2013
Title Name
Auditor PricewaterhouseCoopers
AG
Residential
address: Zug, Switzerland
Id:
CH-170.9.000.609-0
Registered
since: 20.08.2009
Title Name
Chief
Executive Officer Paola
Raccuia Bolderman
Name: Ashland Inc.
City/Country: Covington/Kentucky, United
States of America/US
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 30.09.2014 30.09.2013 30.09.2012 30.09.2011 30.09.2010
Number of months: 12 12 12 12 12
Currency: th.
USD th. USD th. USD th. USD th.
USD
Statement norm: US-GAAP
Balance Sheet
Intangible fixed
assets 3,952,000.0 5,157,000.0 5,278,000.0 5,460,000.0 3,341,000.0
Tangible fixed
assets 2,414,000.0 2,842,000.0 2,832,000.0 2,914,000.0 2,018,000.0
Financial fixed
assets 81,000.0 218,000.0 217,000.0 641,000.0 459,000.0
other fixed assets 943,000.0 998,000.0 988,000.0 564,000.0 880,000.0
Fixed assets 7,390,000.0 9,215,000.0 9,315,000.0 9,579,000.0 6,698,000.0
Stocks 765,000.0 899,000.0 1,008,000.0 925,000.0 644,000.0
Trade accounts
receivable 1,202,000.0 1,471,000.0 1,481,000.0
Liquid assets 1,393,000.0 346,000.0 523,000.0 737,000.0 417,000.0
other trade
accounts 201,000.0 157,000.0 197,000.0
Other current
assets 1,594,000.0 503,000.0 720,000.0
Current assets 3,561,000.0 2,873,000.0 3,209,000.0 3,387,000.0 2,833,000.0
Total assets 10,951,000.0 12,088,000.0 12,524,000.0 12,966,000.0 9,531,000.0
Capital 1,000.0 507,000.0 648,000.0
Other shareholders
funds 3,582,000.0 4,046,000.0 3,381,000.0
Total shareholders equity 3,583,000.0 4,553,000.0 4,029,000.0 4,135,000.0 3,803,000.0
Minority interests 0.0 0.0
long term debt
(financial debts) 2,942,000.0 2,947,000.0 3,131,000.0 3,648,000.0 1,108,000.0
Provisions 2,758,000.0 2,213,000.0
Other non current
liabilities 2,739,000.0 2,861,000.0 3,451,000.0 686,000.0 720,000.0
Non current
liabilities 5,681,000.0 5,808,000.0 6,582,000.0 7,092,000.0 4,041,000.0
short term debt
(financial debts) 338,000.0 320,000.0 459,000.0
Trade accounts
payable 674,000.0 885,000.0 877,000.0
other accounts
payable 675,000.0 522,000.0 577,000.0
other current
liabilities 675,000.0 522,000.0 577,000.0
Current liabilities 1,687,000.0 1,727,000.0 1,913,000.0 1,739,000.0 1,687,000.0
Shareh. equity, min. interests & liabilities 10,951,000.0 12,088,000.0 12,524,000.0 12,966,000.0 9,531,000.0
Profit and loss
account
Net sales 6,121,000.0 7,813,000.0 8,206,000.0 6,502,000.0 9,012,000.0
Other operating
revenue 2,000.0
Operating revenue 6,123,000.0 7,813,000.0 8,206,000.0
Cost of goods sold 4,605,000.0 5,419,000.0 6,025,000.0
Gross profit 1,518,000.0 2,394,000.0 2,181,000.0
Other operating
expenses 1,472,000.0 1,222,000.0 1,937,000.0
Operating result 46,000.0 1,172,000.0 244,000.0 124,000.0 589,000.0
Interest revenues 6,000.0 4,000.0 8,000.0
other financial
revenues 4,000.0 139,000.0 59,000.0
Financial income 10,000.0 143,000.0 67,000.0
Interest expenses 163,000.0 273,000.0 251,000.0
other financial
expenses 190,000.0 21,000.0 163,000.0
Financial expenses 353,000.0 294,000.0 414,000.0
Financial result -343,000.0 -151,000.0 -347,000.0
Result before extraordinary items -297,000.0 1,021,000.0 -103,000.0
Extraordinary income 161,000.0 6,000.0
Extraordinary
expenses 12,000.0
Extraordinary
Result 161,000.0 6,000.0 -12,000.0
Result before taxes -136,000.0 1,027,000.0 -115,000.0
Taxes -188,000.0 274,000.0 -52,000.0
Result before
minority interests 52,000.0 753,000.0 -63,000.0
Result for the financial year 52,000.0 753,000.0 -63,000.0 414,000.0 332,000.0
Cash flow
Depreciation 393,000.0 425,000.0 430,000.0
Cash flow 445,000.0 1,178,000.0 367,000.0
Cash flow from
operating activities 580,000.0 791,000.0 385,000.0
Investments in
tangible fixed assets 248,000.0 314,000.0 298,000.0
Cash flow from
investing activities -168,000.0 -320,000.0 -241,000.0
Cash flow from
financing activities -1,034,000.0 -592,000.0 -317,000.0
Others 1,669,000.0 -56,000.0 -41,000.0
Change in liquidity 1,047,000.0 -177,000.0 -214,000.0
Liquidity at
beginning of the year 346,000.0 523,000.0 737,000.0
Liquidity at end
of the year 1,393,000.0 346,000.0 523,000.0
Notes
Research and
Development 114,000.0 178,000.0 137,000.0
Added value 420,000.0 1,725,000.0 566,000.0
Working Capital 1,293,000.0 1,485,000.0 1,612,000.0
Sales per Employee 556.5
Gross cost land
and buildings 958,000.0 1,348,000.0 1,256,000.0
Gross cost other
tangible fixed assets 3,317,000.0 3,417,000.0 3,222,000.0
Gross cost total 4,275,000.0 4,765,000.0 4,478,000.0
Employees at year end 11,000 14,600 14,600
No.
of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Type: direct
Name: Ashland Switzerland
Holdings GmbH
City/Country: Schaffhausen/SH, Switzerland/CH
Capital
share: CHF 2,000,000.--
Interest: 100,00% voting right,
100,00% capital interest (since 22.04.2013)
Class: 50-100%
Type: indirect, Group-Level
1
Name: Ashland Inc.
City/Country: Covington/Kentucky, United
States of America/US
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
17.06.2014 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 1 3,400.-- Legal actions
31.12.2008 2008 0 Legal
actions
31.12.2007 2007 0 Legal
actions
31.12.2006 2006 0 Legal
actions
31.12.2005 2005 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 World
Compliance database.
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 in order.
Payment experiences: Financial obligations are paid promptly.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.18 |
|
|
1 |
Rs.95.71 |
|
Euro |
1 |
Rs.70.75 |
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 |
|
|
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 |
|
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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 |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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|
-- |
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.