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Report No. : |
299175 |
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Report Date : |
24.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
SIKA SCHWEIZ AG |
|
|
|
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Registered Office : |
Tüffenwies 16-22, 8064 Zürich/ZH, Switzerland/CH |
|
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|
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Country : |
Switzerland |
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|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
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Date of Incorporation : |
06.07.1971 |
|
|
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Com. Reg. No.: |
020.3.923.935-5 / 177456 |
|
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Legal Form : |
Company Limited By Shares |
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Line of Business : |
· Manufacture of other chemical products · Manufacture of glues · Manufacture of paints, varnishes and similar coatings, printing ink and mastics · Wholesale of other machinery and equipment |
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No. of Employee : |
800-999 |
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 : |
Exist |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Switzerland |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
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 |
SIKA SCHWEIZ AG
Tüffenwies 16-22 Branch:
8064 Zürich/ZH Allmend
2
Switzerland/CH 8967
Widen/AG
Switzerland/CH
Telephone: 058 4364040 056 6485050
Fax: 058 4364570
Web site: http://www.sika.ch
E-mail: sika@sika.ch
WIN Worldbox No.: CH0000045548
VAT-No.: CHE105969305
Established: 1910
History: 1910: Established from Kaspar Winkler
Line of Business: Chemicals,
Consumer goods wholesale
Industry Division: Manufacturing,
Wholesale trade
Industry-code (NACE): 2059 Manufacture of other chemical products
n.e.c.
2052 Manufacture of glues
2030 Manufacture of paints, varnishes and
similar coatings, printing ink and mastics
4669 Wholesale of other machinery and equipment
Import/Export: Export
Export sales: 70,0%
Quality certification: ISO
9001:2000 (since 2005)
ISO 14001:2004 (since
2005)
ISO/TS 16949:2002
(since 2004)
Banks: UBS Ltd
CSFB Credit Suisse
First Boston
ZKB Zürcher
Kantonalbank
ZKB Zuger Kantonalbank
Coverage: Group
Employees: 800-999
Sales: CHF 200-400 Mio
The company supplying specialty chemicals markets. It is a leader in
processing materials used in sealing, bonding, damping, reinforcing and
protecting load-bearing structures in construction and industry. The Group is
represented in more than 70 countries worldwide.
The range includes: concrete admixtures, specialty mortars, sealants and
adhesives, damping and reinforcing materials, structural strengthening systems,
industrial flooring and waterproofing membranes as well as accessories for use
of the products.
Real Estate
Real Estate: The company owns
extensive property.
Company No: 020.3.923.935-5 /
177456
Legal form: Company limited
by shares
Registration: 06.07.1971
Legal status: active
Responsible Register: Handelsregister
des Kantons Zürich
History: Date of Statutes:
20.12.1990
Date of Statutes:
01.03.2013
Date of Statutes:
10.12.2003
Date of Statutes:
16.04.2002
Date of Statutes:
13.12.1999
Date of Statutes:
17.06.1994
Entry Deleted Name
24.04.2002 Sika
Schweiz AG
24.04.2002 Sika
Suisse SA (Name translated)
24.04.2002 Sika
Switzerland Ltd (Name translated)
24.04.2002 Sika
Svizzera SA (Name translated)
24.04.2002 Sika AG, vorm. Kaspar Winkler & Co
24.04.2002 Sika SA, ci-devant Kaspar Winkler &
Co (Name translated)
24.04.2002 Sika SA, già Kaspar Winkler & Co
(Name translated)
Entry Deleted Legal domicile
active Zürich,
Switzerland
Entry Deleted Address
active Tüffenwies
16-22, 8064 Zürich/ZH, Switzerland/CH
08.03.2004 Postfach,
8064 Zürich/ZH, Switzerland/CH (Postal address)
Entry Deleted Capital
28.05.2013 Share
Capital CHF 1,000,000, paidup CHF 1,000,000
08.04.2004 28.05.2013 Share Capital CHF 52,000,000, paidup CHF
52,000,000
Entry Deleted Capital Structure
28.05.2013 1,000
Registered shares of CHF 1,000.--
08.04.2004 28.05.2013 52,000 Registered shares of CHF 1,000.--
Entry Deleted Remarks
12.02.2007 Business
place (-s): Allmend 2, 8967 Widen.
12.02.2007 Business
place (-s): Bellikonerstrasse 218, 8967 Widen.
12.02.2007 Business
place (-s): Eistäpfestrasse 2, 5242 Birr.
12.06.2003 Business
place (-s): Hegmattenstrasse 15, 8404 Winterthur.
12.06.2003 Business
place (-s): Route de la Chocolatière 27, 1026 Echandens.
12.06.2003 Business
place (-s): Industrie Neuhof 9, 3422 Kirchberg.
12.06.2003 Business
place (-s): Via San Gottardo.
Entry Deleted Branches
22.05.2014 Industriestrasse
26, 6060 Sarnen/OW, Switzerland/CH
removed , Kriens/LU, Switzerland/CH
removed Rehetobelstrasse 60, 9006 St.
Gallen/SG, Switzerland/CH
removed , Chur/GR, Switzerland/CH
removed , Satigny/GE, Switzerland/CH
removed , Cadenazzo/TI, Switzerland/CH
removed , Steg/VS, Switzerland/CH
removed Rohrerstrasse 102, 5000 Aarau/AG,
Switzerland/CH
removed Bellikonerstrasse 218, 8967 Widen/AG,
Switzerland/CH
removed Muttenz/BL, Switzerland/CH
removed , Bern/BE, Switzerland/CH
removed , Lausanne/VD, Switzerland/CH
removed , Echandens/VD, Switzerland/CH
removed , Glarus/GL, Switzerland/CH
removed Geerenweg 9, 8048 Zürich/ZH,
Switzerland/CH
Title Name
President Paul Schuler
Citizen: Alpthal,
Switzerland
Residential address:
Einsiedeln, Switzerland
joint signature of two
Registered since:
16.01.2013
Director Walter
Schuchter
Citizen: Austria
Residential address: Röns,
Austria
joint signature of two,
Limited to the headquarters
Registered since:
16.01.2013
Title Name
Member with signing authority Michael
Albrecht
Citizen: Sursee,
Switzerland
Residential address:
Winterthur, Switzerland
Born: 1979
joint signature of two,
Limited to the headquarters
Registered since:
13.07.2012
Member with signing authority Roland
Konrad Bischoff
Citizen: Zürich,
Switzerland
Residential address:
Bonstetten, Switzerland
Born: 1958
joint signature of two
Registered since:
24.05.2013
Member with signing authority Willy
Eugster
Citizen: Oberegg,
Switzerland
Residential address:
Zürich, Switzerland
joint signature of two
Registered since:
07.02.2012
Member with signing authority Urs
Hüssy
Citizen: Safenwil, Switzerland
Residential address:
5242 Lupfig/AG, Switzerland
Born: 1952
joint signature of two,
Limited to the headquarters
Registered since:
17.01.2007
Member with signing authority Jan
Jenisch
Citizen: Luzern,
Udligenswil, Switzerland
Residential address:
Zug, Switzerland
Born: 02.09.1966
joint signature of two,
Limited to the headquarters
Registered since:
03.01.2012
Member with signing authority Marc
Kühl
Citizen: Germany
Residential address:
Dietikon, Switzerland
joint signature of two
Registered since:
28.11.2013
Member with signing authority Daniel
Lang
Citizen: Aristau,
Switzerland
Residential address:
Jonen, Switzerland
Born: 1971
joint signature of two,
Limited to the headquarters
Registered since:
13.07.2012
Member with signing authority Esther
Martinez Olmos
Citizen: Othmarsingen,
Switzerland
Residential address:
Zürich, Switzerland
Born: 1967
joint signature of two,
Limited to the headquarters
Registered since:
16.01.2013
Member with signing authority Jürg
Mettler
Citizen: Zürich,
Switzerland
Residential address:
5454 Bellikon/AG, Switzerland
Born: 1955
joint signature of two
Member with signing authority Stefan
Mösli
Citizen: Gais,
Switzerland
Residential address:
Zug/ZG, Switzerland
joint signature of two,
Limited to the headquarters
Registered since:
16.02.1998
Member with signing authority Silvio
Ponti
Citizen: St.
Gallenkappel, Switzerland
Residential address:
Zürich/ZH, Switzerland
joint signature of two,
Limited to the headquarters
Member with signing authority Alfred
Rechsteiner
Citizen: Rehetobel,
Switzerland
Residential address:
Wiesendangen, Switzerland
joint signature of two,
Limited to the headquarters
Registered since:
24.04.2002
Member with signing authority Melanie
Schmid
Citizen: Reiden,
Switzerland
Residential address:
Steinmaur, Switzerland
joint signature of two,
Limited to the headquarters
Registered since:
06.02.2009
Member with signing authority Ernst
Schümperli
Citizen: Wäldi,
Switzerland
Residential address:
Küsnacht/ZH, Switzerland
joint signature of two,
Limited to the headquarters
Registered since:
06.02.1995
Member with signing authority Roland
Schweizer
Citizen: Hemberg,
Switzerland
Residential address:
Nürensdorf, Switzerland
Born: 1968
joint signature of two,
Limited to the headquarters
Registered since:
02.05.2001
Member with signing authority Jules
Vogt
Citizen: Wangen SZ,
Switzerland
Residential address:
8855 Wangen /SZ, Switzerland
Born: 1952
joint signature of two,
Limited to the headquarters
Registered since:
09.10.2009
Title Name
Auditor Ernst & Young AG
Residential address:
Zürich, Switzerland
Id: CH-020.9.001.069-0
Title Name
Chief Executive Officer Alfred
Rechsteiner
Chief Financial Officer Roland Schweizer
Chief Export Officer Urs Hüssy
Chief Business Segment Officer Jürg
Mettler
Name: Sika AG
City/Country: Baar/ZG,
Switzerland/CH
Financial
Data Sika Switzerland
Consolidation: consolidated
(Segment)
Industry: Trade/Industry
Fiscal
year end: 31.12.2013 31.12.2012 31.12.2011 31.12.2010 31.12.2009
Number
of months: 12 12 12 12 12
Currency: th.
CHF th. CHF th. CHF th. CHF th.
CHF
Operating
revenue 306,300.0 302,000.0 329,800.0 314,300.0 298,100.0
Capital 1,000.0 52,000.0 52,000.0 52,000.0 52,000.0
Sales
per Employee 152.0 140.0 143.0 164.0 157.0
Employees at year end 2,012 2,164 2,312 1,912 1,900
Employees
inland 2,012 2,164 2,312 1,912 1,900
Employees
abroad 0 0 0 0 0
Financial Data
Sika Group
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2013 31.12.2012 31.12.2011 31.12.2010 31.12.2009
Number of months: 12 12 12 12 12
Currency: th.
CHF th. CHF th. CHF th. CHF th.
CHF
Statement norm: IAS IAS IAS IAS IAS
Balance Sheet
Intangible fixed
assets 1,066,000.0 742,300.0 770,400.0 630,900.0 562,000.0
Land and buildings 110,300.0 106,000.0 107,400.0 105,400.0 106,000.0
Other tangible
fixed assets 809,900.0 767,300.0 753,200.0 711,100.0 755,700.0
Tangible fixed
assets 920,200.0 873,300.0 860,600.0 816,500.0 861,700.0
Financial fixed
assets 13,900.0 15,300.0 21,100.0 23,400.0 33,500.0
other fixed assets 144,000.0 151,600.0 125,900.0 109,900.0 79,100.0
Fixed assets 2,144,100.0 1,782,500.0 1,778,000.0 1,580,700.0 1,536,300.0
Stocks 539,000.0 521,600.0 530,600.0 499,700.0 451,400.0
Trade accounts
receivable 909,700.0 871,500.0 875,700.0 780,600.0 739,400.0
Liquid assets 1,028,300.0 994,200.0 536,000.0 938,400.0 801,600.0
Securities 4,900.0 2,200.0 0.0 0.0 9,400.0
other trade
accounts 14,000.0 24,300.0 34,300.0 49,700.0 30,400.0
Accruals 92,000.0 83,900.0 75,800.0 82,600.0 60,900.0
Other current
assets 1,139,200.0 1,104,600.0 646,100.0 1,070,700.0 902,300.0
Current assets 2,587,900.0 2,497,700.0 2,052,400.0 2,351,000.0 2,093,100.0
Total assets 4,732,000.0 4,280,200.0 3,830,400.0 3,931,700.0 3,629,400.0
Capital 1,500.0 1,500.0 1,500.0 22,900.0 22,900.0
Other shareholders
funds 2,118,600.0 1,893,400.0 1,824,600.0 1,725,600.0 1,565,400.0
Total shareholders equity 2,120,100.0 1,894,900.0 1,826,100.0 1,748,500.0 1,588,300.0
Minority interests 16,100.0 14,900.0 13,000.0 3,700.0 4,700.0
long term debt
(financial debts) 946,900.0 847,100.0 796,000.0 794,400.0 1,067,500.0
Provisions 93,000.0 81,900.0 90,600.0 92,000.0 103,100.0
Other non current
liabilities 366,800.0 397,900.0 283,900.0 236,400.0 199,500.0
Non current
liabilities 1,406,700.0 1,326,900.0 1,170,500.0 1,122,800.0 1,370,100.0
short term debt
(financial debts) 329,600.0 280,900.0 73,000.0 274,600.0 1,900.0
Trade accounts
payable 560,000.0 492,100.0 501,000.0 478,200.0 355,200.0
Provisions 22,000.0 15,500.0 11,300.0 16,800.0 43,500.0
Accruals 204,900.0 197,600.0 191,400.0 192,300.0 211,800.0
other accounts
payable 72,600.0 57,400.0 44,100.0 94,800.0 53,900.0
other current
liabilities 299,500.0 270,500.0 246,800.0 303,900.0 309,200.0
Current liabilities 1,189,100.0 1,043,500.0 820,800.0 1,056,700.0 666,300.0
Shareh. equity, min. interests & liabilities 4,732,000.0 4,280,200.0 3,830,400.0 3,931,700.0 3,629,400.0
Profit and loss
account
Net sales 5,142,200.0 4,828,900.0 4,556,400.0 4,416,000.0 4,154,900.0
Other operating
revenue 7,300.0 5,800.0 -8,800.0
Operating revenue 5,142,200.0 4,828,900.0 4,563,700.0 4,421,800.0 4,146,100.0
Cost of goods sold 2,446,600.0 2,309,600.0 2,259,100.0 2,036,900.0 1,850,800.0
Gross profit 2,695,600.0 2,519,300.0 2,304,600.0 2,384,900.0 2,295,300.0
Other operating
expenses 2,172,100.0 2,086,300.0 1,957,500.0 1,945,400.0 1,951,300.0
Operating result 523,500.0 433,000.0 347,100.0 439,500.0 344,000.0
Interest revenues 3,000.0 6,900.0 5,000.0 4,000.0 3,100.0
other financial
revenues 6,900.0 4,200.0 14,800.0 8,400.0 6,200.0
Financial income 9,900.0 11,100.0 19,800.0 12,400.0 9,300.0
Interest expenses 33,900.0 38,000.0 33,400.0 34,000.0 27,400.0
other financial
expenses 22,800.0 16,300.0 18,000.0 14,200.0 10,300.0
Financial expenses 56,700.0 54,300.0 51,400.0 48,200.0 37,700.0
Financial result -46,800.0 -43,200.0 -31,600.0 -35,800.0 -28,400.0
Result before extraordinary items 476,700.0 389,800.0 315,500.0 403,700.0 315,600.0
Result before taxes 476,700.0 389,800.0 315,500.0 403,700.0 315,600.0
Taxes 132,000.0 111,300.0 100,700.0 92,800.0 89,900.0
Result before
minority interests 344,700.0 278,500.0 214,800.0 310,900.0 225,700.0
minority interests 2,500.0 1,600.0 1,500.0 100.0 -200.0
Result for the financial year 342,200.0 276,900.0 213,300.0 310,800.0 225,900.0
Cash flow
Depreciation 152,400.0 140,100.0 130,300.0 137,500.0 159,400.0
Cash flow 497,100.0 418,600.0 345,100.0 448,400.0 385,100.0
Cash flow from
operating activities 574,000.0 427,300.0 299,300.0 424,800.0 526,300.0
Investments in
tangible fixed assets 143,600.0 125,500.0 104,600.0 91,300.0 134,700.0
Cash flow from
investing activities -555,000.0 -139,000.0 -263,900.0 -180,900.0 -213,800.0
Cash flow from
financing activities 23,900.0 173,900.0 -430,300.0 -96,700.0 172,000.0
Others -8,800.0 -4,000.0 -7,500.0 -10,400.0 -1,200.0
Change in
liquidity 34,100.0 458,200.0 -402,400.0 136,800.0 483,300.0
Liquidity at
beginning of the year 994,200.0 536,000.0 938,400.0 801,600.0 318,300.0
Liquidity at end
of the year 1,028,300.0 994,200.0 536,000.0 938,400.0 801,600.0
Notes
Material costs 2,446,600.0 2,309,600.0 2,259,100.0 2,048,600.0 1,850,800.0
Cost of employees 1,031,100.0 1,037,200.0 959,900.0 953,400.0 954,300.0
Added value 1,694,100.0 1,605,100.0 1,439,100.0 1,528,600.0 1,456,700.0
Working Capital 888,700.0 901,000.0 905,300.0 802,100.0 835,600.0
Sales per Employee 315.6 317.0 298.7 327.5 335.9
Market
capitalisation 8,055,000.0 5,360,000.0 4,496,000.0 5,210,000.0 4,102,000.0
Gross cost land
and buildings 111,200.0 106,800.0 108,100.0 106,100.0 106,700.0
Gross cost other
tangible fixed assets 2,079,800.0 2,000,200.0 1,933,700.0 1,837,500.0 1,902,100.0
Gross cost total 2,191,000.0 2,107,000.0 2,041,800.0 1,943,600.0 2,008,800.0
Insurance value
land and buildings 991,000.0 1,005,000.0 957,000.0
Insurance value
other tang. fixed assets 1,327,000.0 1,463,000.0 1,452,000.0
Insurance value
total 2,318,000.0 2,468,000.0 2,409,000.0
Employees at year end 16,293 15,233 15,254 13,482 12,369
Employees average 15,763 15,244 14,368 12,926 12,635
Employees inland 2,012 2,164 2,312 1,912 1,900
Employees abroad 14,281 13,069 12,942 11,570 10,469
No. of Owner/-s: 1
Owner: The company is domestic
owned.
Class: 100%
Type: indirect, Group-Level 1
Name: Sika AG
City/Country: Baar/ZG,
Switzerland/CH
Interest: 100,00% voting
right, 100,00% capital interest (since 1968)
It is believed that the company has no investments.
Control date Year No. Amount
CHF Status
25.06.2014 2014 0
25.06.2014 2013 0
25.06.2014 2012 0
25.06.2014 2011 0
25.06.2014 2010 0
25.06.2014 2009 1 50,244.-- Legal actions
21.09.2009 2008 0
21.09.2009 2007 0
21.09.2009 2006 1 10,000,000.-- Opposition filed
21.09.2009 2005 1 25,000.-- Legal actions
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.
Debt collection case:
FEB 2007: CHF 471.--, payment open
FEB 2007: CHF 494.--, paid
08/12/2014
SIKA DOES NOT SUPPORT CHANGE OF CONTROL TO SAINT-GOBAIN
The Board of Directors and the Group Management of Sika were informed
Friday evening, December 5, 2014, that the French Group Saint-Gobain intends to
indirectly acquire all shares held by the Burkard family, Sika's current
majority shareholder. If the transaction were to be closed, Saint-Gobain would
control 52.4% of all voting rights and 16.1% of Sika's share capital. The Board
and Group Management are informed that Saint-Gobain will not make an offer to
public shareholders of Sika AG and that the transaction is subject to approval
by the anti-trust authorities.
The Board and Group Management of Sika AG have neither been involved nor
consulted in connection with the proposed transaction. The Board and Group
Management do not support the change of control of Sika to Saint-Gobain. The
Board neither sees the industrial logic in the transaction, nor significant
synergies for Sika. Furthermore, the Board and the Group Management believe
that shareholder value would be impaired as Sika in the planned set-up would
not be able to continue its successful growth strategy.
Sika's ownership structure is unique. For historic reasons the Burkard
family was able to control Sika with only 16% share in the capital. 84% is
owned by public shareholders, which will not receive an offer for their shares.
The trust of these shareholders has relied on the repeated public commitment of
the family to act as Sika's anchor shareholder and accompany the Group in the
best interest of all shareholders.
The intended transaction would bring a fundamental change. Unlike the
family, Saint-Gobain is an industrial investor and numerous conflicts to the
detriment of the public shareholders could arise. The non-conflicted Board
members and the Group Management each independently have come to the conclusion
that if the transaction materializes they are no longer in a position to serve
in the best interest of the company and all its stakeholders. They have
therefore decided to resign following closing of the transaction. The closing
will occur once the anti-trust approval has been obtained.
Financial Situation: The
financial situation is very good.
Payment experiences: Payment
habits are considered good.
Business development: The business
trend is considered positive.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.50 |
|
|
1 |
Rs.92.16 |
|
Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
|
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.