MIRA INFORM REPORT

 

 

Report No. :

324325

Report Date :

02.06.2015

 

IDENTIFICATION DETAILS

 

Name :

ITH GMBH & CO. KG

 

 

Registered Office :

Auf'm Brinke 18 D 59872 Meschede Post Box: 13 65, D 59872 Meschede

 

 

Country :

Germany

 

 

Date of Incorporation :

01.01.1979

 

 

Com. Reg. No.:

HRA 6797

 

 

Legal Form :

Ltd partnership with priv. ltd. company as general partner

 

 

Line of Business :

·         Manufacture of metal structures and parts of structures

·         Manufacture of other fabricated metal products n.e.c.

·         Manufacture of other general-purpose machinery

 

 

No. of Employee :

106

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Germany

A2

A2

 

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 5.3% 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. 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 accounts for 34% of total energy consumption, 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.

 

Source : CIA

 

Company name and address

 

ITH GMBH & CO. KG

 

 Company Status:      active

                      Auf'm Brinke 18

                      D 59872 Meschede

                      Post Box:

                      13 65, D 59872 Meschede

                      Telephone:0291/99620

                      Telefax:  0291/996211

                      Homepage: www.ith.com

                      E-mail:   sales@ith.de

 

 VAT no.:             DE125928178

 

 

 CONCLUSION

 

 Business relations are permissible.

 

 

Summary

 

 LEGAL FORM               Ltd partnership with priv. ltd. company as

                                    general partner

 Date of foundation:        01.01.1979

 Registered on:              01.10.2009

 Register of

 companies:                  Local court 59821 Arnsberg

 under:                          HRA 6797

 

 

 Total cap. Contribution

 

EUR             26,000.00

 

 Limited partner:

                      Jörg Hohmann

                      Uhlandstr. 6 a

                      D 59872 Meschede

                      born: 01.10.1965

                      Share:             EUR             13,000.00

 Limited partner:

                      Frank Hohmann

                      Josef-Menke-Str. 25

                      D 59581 Warstein

                      born: 24.11.1966

                      Share:             EUR             13,000.00

 General partner:

                      ITH Verwaltungs-GmbH

                      Auf'm Brinke 18

                      D 59872 Meschede

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered on: 10.08.2009

                      Reg. data: 59821 Arnsberg, HRB 8769

 

 Shareholder:

                      ITH GmbH & Co. KG

                      Auf'm Brinke 18

                      D 59872 Meschede

                      Post Box:

                      13 65, D 59872 Meschede

                      Legal form: Ltd partnership with priv. ltd.

                      company as general partner

                      Total cap.         EUR             26,000.00

                      contribution:

                      Share:             EUR             25,000.00

                      Registered on: 01.10.2009

                      Reg. data: 59821 Arnsberg, HRA 6797

 Manager:

                      Johannes Heinrich Hohmann

                      Anton-Bange-Str. 6

                      D 59872 Meschede

                      having sole power of representation

                      born: 13.06.1937

                      Profession: Businessman

                      Marital status: single

 Manager:

                      Jörg Hohmann

                      Uhlandstr. 6 a

                      D 59872 Meschede

                      born: 01.10.1965

                      Profession: Businessman

                      Property regime: Separation of property

                      Marital status: married

 Manager:

                      Frank Hohmann

                      Josef-Menke-Str. 25

                      D 59581 Warstein

                      having sole power of representation

                      born: 24.11.1966

                      Profession: Businessman

 General partner:

                      Karin Schätzler

                      D 44135 Dortmund

                      born: 13.05.1940

                      née: Roth

                      deceased: 30.04.2015

 

 

 COMPANY HISTORY

 

 01.01.1979 - 01.10.2009  ITH INDUSTRIE-TECHNISCHE

                          KONSTRUKTIONEN-HOHMANN Gesellschaft mit

                          beschränkter

                          Auf'm Brinke 18

                          D 59872 Meschede

                          Private limited company

 

 

BUSINESS ACTIVITIES

 

 Main industrial sector

 25110   Manufacture of metal structures and parts of structures

2599    Manufacture of other fabricated metal products n.e.c.

28290   Manufacture of other general-purpose machinery

 

 

PARTICIPATIONS

 

 Shareholder:

                      ITH Verwaltungs-GmbH

                      Auf'm Brinke 18

                      D 59872 Meschede

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR             25,000.00

                      Share:             EUR             25,000.00

                      Reg. data:  10.08.2009

                                  Local court 59821 Arnsberg

                                  HRB 8769

 

 

 FINANCIAL INFORMATION

 

 Payment experience:  within periods customary in this trade

 

 

 REAL ESTATE

 

 Type of ownership:   Tenant

 Address              Auf'm Brinke 18

                      D 59872 Meschede

 

 Real Estate of:      ITH Verwaltungs-GmbH

 Type of ownership:   Tenant

 Address              Auf'm Brinke 18

                      D 59872 Meschede

 

 Land register documents were not available.

 

 

 BANKERS

 

 SPARKASSE MESCHEDE, 59856 MESCHEDE

 Sort. code: 46451012

 BIC: WELADED1MES

 

 

 FINANCIAL FIGURES

 

 Financial year:      01.01. - 31.12.

 Turnover:            2013               EUR          9,160,000.00

                      2014               EUR          9,160,000.00

                      2015               EUR          9,165,000.00

 further business figures:

 Total numbers of vehicles:                                      4

 - Passenger cars:                                               4

 Employees:                                                    106

 - thereof permanent staff:                                     82

 - Trainees:                                                    24

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.63.61

UK Pound

1

Rs.97.27

Euro

1

Rs.69.62

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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%)

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.