MIRA INFORM REPORT

 

 

Report No. :

323697

Report Date :

02.06.2015

 

IDENTIFICATION DETAILS

 

Name :

SOLVAY  SA

 

 

Registered Office :

1120 Brussels Rue  De  Ransbeek  310

 

 

Country :

Belgium

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

20.12.1963

 

 

Com. Reg. No.:

403091220

 

 

Legal Form :

Public Limited Liability Company  (BE)

 

 

Line of Business :

Manufacture of other inorganic basic chemicals.

 

 

No. of Employee :

834

 

 

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

No complaints

 

 

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)

Belgium

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 


 

BELGIUM ECONOMIC OVERVIEW

 

This modern, open, and private-enterprise-based economy has capitalized on its central geographic location, highly developed transport network, and diversified industrial and commercial base. Industry is concentrated mainly in the more heavily-populated region of Flanders in the north. With few natural resources, Belgium imports substantial quantities of raw materials and exports a large volume of manufactures, making its economy vulnerable to shifts in foreign demand, particularly in Belgium’s EU trade partners. Roughly three-quarters of Belgium's trade is with other EU countries. In 2014 Belgian GDP grew by 0.9%, the unemployment rate stabilized at 8.5%, and the the budget deficit was 3.2% of GDP. Prime Minister Charles MICHEL’s center-right government has pledged to further reduce the deficit in response to EU pressure to reduce Belgium’s high public debt, which remains above 100% of GDP, but such efforts could also dampen economic growth. In addition to restrained public spending, low wage growth and high unemployment promise to curtail a more robust recovery in private consumption. The government has pledged to pursue an reform program to improve Belgium’s competitiveness, including changes to tax policy, labor market rules, and welfare benefits. These changes risk worsening tensions with trade unions and triggering extended strikes.

 

Source : CIA

 

 

 

 


Company summary

 

Business number                     403091220

Branche Unit Number               2102008707

Company name                        SOLVAY SA

Address                                   RUE DE RANSBEEK 310

1120 BRUSSELS

Number of staff                        834

Date of establishment               20/12/1863

Telephone number                   022642111

Fax number                              022643061

 

 

Commentary

 

The business was established over 151 years ago.

The business has 834 employees.

The business is part of a group.

This business has a foreign parent business.

The business has been at the address for over 3 years.

Pre-tax profits increased by 277% compared to the previous trading period.

The business saw an increase in their Cash Balance of 113% during the latest trading period.

Working Capital is a negative amount during the latest trading period.

 

 

Accounts

 

DATE  OF  LATEST  ACCOUNTS

TURNOVER

PROFIT  BEFORE  TAX

NET  WORTH

WORKING  CAPITAL

31/12/2014

304,958,169

832,771,729

7,633,179,783

-1,146,745,390

31/12/2013

324,630,983

220,317,959

7,397,779,717

-1,376,186,761

31/12/2012

295,215,872

1,062,410,969

7,319,846,399

-665,861,236

 

ACCOUNTS

 

 

 

 

 

DATE  OF  LATEST  ACCOUNTS

BALANCE  TOTAL

NUMBER  OF  EMPLOYEES

CAPITAL

CASHFLOW

31/12/2014

12,540,688,578

834

1,270,516,995

619,527,484

31/12/2013

13,295,697,050

802

1,270,516,995

428,853,426

31/12/2012

12,094,318,711

804

1,270,516,995

999,571,750

 

 


Trends

 

Profitability

Liquidity

Net worth

 

 

Payment expectations

 

Past  payments

 

Payment  expectation  days

109.87

Industry  average  payment

112.09

Industry  average  day  sales

94.98

expectation  days

 

outstanding

 

Day  sales  outstanding

164.63

 

 

 

 

Court data summary

 

BANKRUPTCY DETAILS

Court action type                       No

 

PROTESTED BILLS

Bill amount                                --

 

NSSO DETAILS

Date of summons                     24/04/2014

 

 

Company information

 

Business  number

403091220

Company  name

SOLVAY  SA

Fax  number

022643061

Date  founded

20/12/1863

Company  status

active

Company  type

Public  Limited  Liability

 

 

 

Company  (BE)

Currency

Euro  (€)

Date  of  latest  accounts

31/12/2014

Activity  code

20130

Liable  for  VAT

yes

Activity  description

Manufacture  of  other inorganic  basic  chemicals

VAT  Number

BE.0403.091.220  Check  VAT number

Belgian  Bullettin  of  Acts Publications

 

moniteur  belge

 

 

 

 

 

CONTRACTOR DETAILS

 

Registered  contractor

-

number

 

Contractor  description

-

Date  struck  off  register

 

 

 

PERSONNEL  (NSSO  CLASSIFICATION)

 

Code

-

Description

-

 

 

JOINT  INDUSTRIAL  COMMITTEE  (JIC)

 

--

 

 

SIGNIFICANT  EVENTS

 

Event  Date

12/11/2014

Event  Description

authority  appointed

Event  Details

Commentaire 12-11-2014: Mise à jour des délégations de pouvoirs au Comité Exécutif et adaptation des pouvoirs de représentation délégués au Comité Exécutif.

 

 

Company accounts

 

ASSETS

 

Annual  accounts

31-12-2014

%

31-12-2013

%

31-12-2012

%

31-12-2011

%

31-12-2010

Weeks

52

 

52

 

52

 

52

 

52

Currency

EUR

 

EUR

 

EUR

 

EUR

 

EUR

Total  fixed  assets

11,769,131,940

-3.76

12,229,124,171

13.51

10,773,425,537

18.29

9,107,403,686

12.98

8,060,912,469

Intangible  fixed  assets

131,297,657

28.50

102,175,455

9.70

93,144,612

-4.36

97,385,992

16.71

83,444,939

Tangible  fixed  assets

60,262,736

-11.68

68,231,991

3.48

65,938,766

16.66

56,520,409

-6.52

60,462,432

Land  &  building

35,048,833

-16.68

42,064,212

1.49

41,448,172

4.39

39,703,237

-9.15

43,702,128

Plant  &  machinery

13,604,793

-3.92

14,159,605

19.33

11,866,153

4.89

11,313,024

54.84

7,306,355

Furniture  &  Vehicles

3,793,333

7.57

3,526,499

11.92

3,151,022

8.23

2,911,333

64.04

1,774,749

Leasing  &  Other  Similar Rights

--

--

--

--

--

--

--

--

--

Other  tangible  assets

7,815,777

-7.85

8,481,676

-10.47

9,473,419

265

2,592,815

-66.24

7,679,200

Financial  fixed  assets

11,577,571,547

-3.99

12,058,716,726

13.61

10,614,342,159

18.55

8,953,497,286

13.09

7,917,005,098

Total  current  assets

771,556,639

-27.66

1,066,572,879

-19.25

1,320,893,174

-74.89

5,260,236,574

-6.28

5,612,586,059

Inventories

571,421

-81.96

3,167,628

-71.90

11,274,703

-3.46

11,679,030

-69.32

38,069,448

Raw  materials  & consumables

293,202

-11.35

330,756

-90.52

3,490,439

0.37

3,477,654

-69.84

11,531,666

Work  in  progress

278,219

-90.19

2,836,872

-59.16

6,946,844

-5.34

7,338,497

-2.15

7,499,645

Finished  goods

0

-

0

-100

837,420

-2.95

862,879

-95.47

19,038,136

Other  stocks

0

-

0

-

0

-

0

-100

1

Trade  debtors

137,548,744

-28.92

193,510,135

30.53

148,248,701

27.57

116,211,392

4.84

110,847,680

Other  amounts  receivable

593,544,348

160

227,518,549

121

102,866,731

-12.65

117,757,801

-21.61

150,223,983

Cash

11,213,702

113

5,240,946

270

1,416,395

-81.67

7,726,282

-24.11

10,180,840

Miscellaneous  current assets

27,543,286

-78.74

129,567,157

-76.32

547,066,486

-37.90

881,010,345

-81.62

4,793,128,253

Total  Assets

12,540,688,578

-5.68

13,295,697,050

9.93

12,094,318,711

-15.82

14,367,640,260

5.08

13,673,498,528

 

 

LIABILITIES

 

Total  shareholders  equity

7,764,477,439

3.53

7,499,955,172

1.17

7,412,991,011

9.78

6,752,751,153

1.03

6,684,174,131

Issued  share  capital

1,270,516,995

0

1,270,516,995

0

1,270,516,995

0

1,270,516,995

0

1,270,516,995

Share  premium  account

18,216,530

0

18,216,530

0

18,216,530

0

18,216,530

0.00

18,216,530

Revaluation  reserve

--

--

--

--

--

--

--

--

--

Reserves

6,475,743,914

4.26

6,211,221,646

1.42

6,124,257,486

12.08

5,464,017,628

1.27

5,395,440,606

Provisions  for  Liabilities &  Charges

357,811,313

7.48

332,913,667

-11.29

375,289,698

4.15

360,352,532

11.35

323,621,535

Deffered  taxes

--

--

--

--

--

--

--

--

--

Creditors

4,418,399,826

-19.12

5,462,828,211

26.86

4,306,038,002

-40.64

7,254,536,575

8.83

6,665,702,862

Other  long  term  loans

2,498,927,111

-16.85

3,005,365,525

30.52

2,302,559,803

0.07

2,300,987,435

15.33

1,995,146,421

Long  term  group  loans

--

--

--

--

--

--

--

--

--

Other  long  term  liabilities

1,170,686

-92.04

14,703,046

-12.08

16,723,789

-5.05

17,613,526

-1.89

17,952,953

Total  long  term  debts

2,857,909,111

-14.77

3,352,982,239

24.43

2,694,573,290

0.58

2,678,953,494

14.65

2,336,720,909

Current  portion  of  long

--

--

1,544,844

14.72

1,346,640

-15.38

1,591,476

-68.55

5,060,751

term  debt

1,249,461,199

-32.46

1,849,912,308

32.90

1,391,910,556

-67.93

4,339,566,894

5.25

4,123,190,954

Financial  debts

153,202,973

7.34

142,723,490

7.02

133,365,211

-1.24

135,035,477

33.60

101,074,774

Trade  creditors Amounts  Payable  for Taxes,  Remuneration  & Social  Security

90,538,375

46.13

61,958,092

-6.98

66,608,895

28.65

51,775,854

13.50

45,615,673

Miscellaneous  current liabilities

425,099,482

9.95

386,620,906

-1.75

393,523,109

-3.54

407,965,913

8.02

377,661,336

Total  current  liabilities

1,918,302,028

-21.47

2,442,759,640

22.95

1,986,754,410

-59.75

4,935,935,613

6.09

4,652,603,488

Total  Liabilities

12,540,688,578

-5.68

13,295,697,050

9.93

12,094,318,711

-15.82

14,367,640,260

5.08

13,673,498,528

 

 

RATIO  ANALYSIS

 

TRADING  PERFORMANCE

 

Profit  Before  Tax

273.08

302

67.87

-81.14

359.88

2031

16.88

-65.85

49.43

Return  on  capital employed

7.84

286

2.03

-80.69

10.51

1108

0.87

-62.82

2.34

Return  on  total  assets employed

6.64

300

1.66

-81.09

8.78

1440

0.57

-62.99

1.54

Return  on  net  assets employed

10.73

264

2.94

-79.48

14.33

1084

1.21

-61.71

3.16

Sales  /  net  working capital

-0.27

-12.50

-0.24

54.55

-0.44

-129

1.49

238

0.44

Stock  turnover  ratio

0.19

-80.61

0.98

-74.35

3.82

58.51

2.41

-72.95

8.91

Creditor  days

109.87

11.05

98.94

3.01

96.05

32.70

72.38

-2.37

74.14

Debtor  days

164.63

-24.33

217.57

18.70

183.29

109

87.50

-7.63

94.73

 

SHORT TERM STABILITY

 

Current  ratio

0.40

-9.09

0.44

-33.33

0.66

-38.32

1.07

-11.57

1.21

Liquidity  ratio  /  acid  ratio

0.40

-9.09

0.44

-33.33

0.66

-37.74

1.06

-11.67

1.20

Current  debt  ratio

0.25

-24.24

0.33

22.22

0.27

-63.01

0.73

4.29

0.70

Liquidity ratio reprocessed

--

--

--

--

--

--

--

--

--

Cashflow

619,527,484

44.46

428,853,426

-57.10

999,571,750

164

378,076,121

-86.61

2,824,257,096

Net  worth

7,633,179,783

3.18

7,397,779,717

1.06

7,319,846,399

9.98

6,655,365,161

0.83

6,600,729,192

 

LONG  TERM  STABILITY

 

Gearing

48.28

-25.45

64.76

29.88

49.86

-49.31

98.36

7.37

91.61

Equity  in  percentage

62.57

10.06

56.85

-7.97

61.77

30.54

47.32

-3.78

49.18

Total  debt  ratio

0.62

-19.48

0.77

22.22

0.63

-44.25

1.13

7.62

1.05

Working  capital

-1,146,745,390

83.33

-1,376,186,761

-106

-665,861,236

-305

324,300,960

-66.22

959,982,571

 

 

PROFIT  &  LOSS

 

Operating  Income

955,518,510

-4.43

999,849,140

25.28

798,114,278

-18.70

981,703,570

8.78

902,500,732

Turnover

304,958,169

-6.06

324,630,983

9.96

295,215,872

-39.10

484,777,143

13.51

427,088,311

Total  operating expenses

508,975,693

-3.33

526,520,290

3.89

506,797,615

-25.57

680,941,781

36.85

497,572,114

Gross  Operating Margin

--

--

--

--

--

--

--

--

--

Operating  Charges

1,159,536,034

-3.51

1,201,738,447

19.02

1,009,696,020

-14.28

1,177,868,207

21.06

972,984,534

Employee  costs

208,702,712

0.96

206,713,377

-1.55

209,963,468

8.13

194,181,993

2.47

189,503,954

Wages  and  salary

127,260,099

7.06

118,868,427

0.13

118,713,351

0.06

118,638,484

-0.24

118,926,527

Employee  pension costs

4,806,353

14.73

4,189,354

5.40

3,974,594

53.70

2,586,008

17.47

2,201,495

Social  security contributions

 

37,526,785

-0.18

37,595,830

2.86

36,551,524

-1.14

36,973,042

4.77

35,291,393

Other  employee costs

39,109,476

-15.09

46,059,767

-9.20

50,724,000

40.96

35,984,459

8.77

33,084,538

Director remuneration

3,086,149

125

1,366,001

-9.94

1,516,768

-11.40

1,711,957

-31.06

2,483,089

Amortization  and depreciation

69,597,915

-0.36

69,851,396

4.93

66,570,829

24.65

53,404,458

27.42

41,911,037

Operating  result

-204,017,524

-1.05

-201,889,307

95.42

-211,581,742

-7.86

-196,164,637

-178

-70,483,803

Total  financial income

1,279,797,555

123

573,838,048

-59.88

1,430,330,439

192

488,707,268

10.19

443,527,031

Total  financial expenses

243,008,301

60.26

151,630,783

-3.01

156,337,728

-25.81

210,723,500

30.12

161,939,464

Results  on ordinary operations  before taxation

832,771,729

277

220,317,959

-79.26

1,062,410,969

1198

81,819,130

-61.24

211,103,765

Extraordinary Income

234,014,166

15.58

202,472,712

1594

11,948,518

-95.13

245,427,085

-90.66

2,626,754,068

Extraordinary Charges

541,498,228

439

100,370,887

-37.69

161,089,019

338

36,736,478

-56.18

83,834,250

Extraordinary items

-307,484,062

-401

102,101,826

68.46

-149,140,501

-171

208,690,607

-91.79

2,542,919,818

Results  for  the Year  Before

Taxation

525,287,668

62.92

322,419,784

-64.70

913,270,468

214

290,509,738

-89.45

2,754,023,582

Other

appropriations

--

--

--

--

--

--

--

--

--

Taxation

-24,641,901

67.36

-36,582,245

-85.41

-19,730,453

57.76

-34,161,925

-20.62

-28,322,476

Results  on ordinary operations  after taxation

857,413,631

233

256,900,204

-76.26

1,082,141,422

833

115,981,056

-51.56

239,426,241

Net  result

549,929,569

53.18

359,002,029

-61.52

933,000,921

187

324,671,663

-88.33

2,782,346,059

Profit  (Loss)  for the  Year  to  be appropiated

549,929,569

53.18

359,002,029

-61.52

933,000,921

187

324,671,663

-88.33

2,782,346,059

Dividends

287,983,852

6.25

271,043,626

0

271,043,626

4.35

259,750,141

0.00

259,750,141

 

 

Social Balance Sheet Details

 

Social  Balance  Sheet

 

Total

During  the  reporting  year

 

ended  31-12-2014

 

Full-time  Employees

736

Part-time  Employees

105

Total  Fte  Employees

819

Number  of  hours  worked

 

Full-time  Employees

1,204,955

Part-time  Employees

125,043

Total

1,329,998

Personnel  Charges

 

Full-time  Employees

153,115,141

Part-time  Employees

14,753,506

Total

167,868,646

Benefits  In  Addition  To  Wages

-

During  the  previous  reporting  year

 

Average  number  employees  in  Fte

799

Actual  working  hours

1,286,585

Personnel  Charges

176,859,800

Benefits  In  Addition  To  Wages

-

 

 

Type  of  Contract

Full-Time

Part-Time

Total  Fte

Unlimited  Duration

727

113

816

Contracts

 

 

 

Limited  Duration  Contracts

18

1

18

Contracts  For  Specific  Work

-

-

-

Contracts  Regarding

-

-

-

Substitution

 

 

 

 

 

Gender  and  Education Level

 

 

 

Men

Full-Time

Part-Time

Total  Fte

Primary  education

1

-

1

Secondairy  education

53

8

59

Higher  education  (non university)

98

10

106

Higher  education (university)

330

11

337

Women

Full-Time

Part-Time

Total  Fte

Primary  education

-

-

-

Secondairy  education

28

16

41

Higher  education  (non university)

105

38

135

Higher  education (university)

130

31

156

 

 

Working  Category

Full-Time

Part-Time

Total  Fte

Management

27

1

27

White  collar  worker

718

113

807

Blue  collar  worker

-

-

-

Other

-

-

-

 

 

Temporary  personnel

Total

Average  number  of  temporary  staff

4

Actual  working  hours

8,830

Cost  of  temporary  staff

350,166

 

 

New  staff  and  leavers

Full-Time

Part-Time

Total  Fte

New  Starters

185

4

188

Leavers

148

6

153

 

 

Total  of  formal  continuing  vocational  training  initiatives

 

 

for  workers  paid  by  the  employer

Male

Female

Number  of  employees

403

265

Number  of  training  hours

24,477

16,110

Net  costs  for  enterprise

3,565,088

2,346,380

Total  of  less  formal  and  informal  continuing  vocational

 

 

training  initiatives  for  workers  paid  by  the  employer

Male

Female

Number  of  employees

503

331

Number  of  training  hours

8,021

5,279

Net  costs  for  enterprise

566,675

372,963

Total  of  initial  training  initiatives  at  the  expense  of  the

 

 

employer

Male

Female

Number  of  employees

-

-

Number  of  training  hours

-

-

Net  costs  for  enterprise

-

-

 

 

Industry comparison

 

Activity code                            20130

Activity description                  Manufacture of other inorganic basic chemicals

industry average credit

rating                                       70.80

Industry average credit limit     1536548.39

 

 


Payment Information

 

Payment  Information  Summary

 

Total  number  of  Invoices  available

1705

Total  number  of  Invoices  paid  within  or  up  to  30  days  after  the  due  date

1664

Total  number  of  Invoices  paid  more  than  30  days  after  the  due  date

38

Total  number  of  Invoices  currently  outstanding  where  the  due  date  has  not  yet  been  reached

3

Total  number  of  Invoices  currently  outstanding  beyond  the  due  date

0

 

 

SUSPENSION OF PAYMENTS / MORATORIUM HISTORY

 

Amount

-

Details

-

 

 

PAYMENT  EXPECTATIONS

 

Payment  expectation  days

109.87

Day  sales  outstanding

164.63

 

 

INDUSTRY  COMPARISON

 

Activity  code

20130

Activity  description

Manufacture  of  other  inorganic  basic  chemicals

Industry  average  payment

112.09

expectation  days

 

Industry  average  day  sales outstanding

94.98

 

 

INDUSTRY  QUARTILE  ANALYSIS

 

Payment  expectations

 

Company  result

109.87

Lower

96.33

Median

64.59

Upper

40.07

 

 

DAY SALES OUTSTANDING

 

Company  result

164.63

Lower

85.74

Median

46.21

Upper

26.76

 

 

Shareholder Details

 

SUMMARY

 

 

Group  -  Number  of  Companies

44

Linkages  -  Number  of  Companies

1243

Number  of  Countries

91

 

 

GROUP STRUCTURE

 

Company  name

Number

Latest

 

 

financials

- SOLVAY  SA

403091220

31-12-2014

- - FINANCIERE  SOLVAY  SA

439234113

31-12-2013

- - HESTIA  SA

413879402

31-12-2013

- - RESOL  &  CIE  SNC

448967963

31-12-2013

- - SOLVAY  -  COORDINATION  INTERNATIONALE  DES...

425487035

31-12-2013

- - SOLVAY  BENVIC  &  CIE  -  BELGIUM  SNC

461989125

31-12-2013

- - SOLVAY  CHEMICALS  INTERNATIONAL  SA

406804736

31-12-2013

- - - SOLVAY  STOCK  OPTION  MANAGEMENT  SPRL

882759287

31-12-2014

- - SOLVAY  CHIMIE  SA

408249541

31-12-2013

- - SOLVAY  ENERGY  SA

812307395

31-12-2013

- - SOLVAY  NAFTA  DEVELOPMENT  AND  FINANCING  S...

806535402

31-12-2013

- - SOLVAY  PARTICIPATIONS  BELGIQUE  SA

403409340

31-12-2013

- - - SOLVAY  VOSTOK  SOC.ETR.  E.P.B.

 

 

- - SOLVAY  SPECIALTY  POLYMERS  BELGIUM  SA

880405949

31-12-2013

- - ESPHERES  SA

841887843

31-12-2013

- - - INFORMATION  RESOURCES  SA

435805261

31-03-2014

- - - ESPHERES  DEUTSCHLAND  GMBH

HRB  209251

 

- - 3S SOLVAY SHARED SERVICES LDA SOC.ETR. E...

 

 

- - AUSIMONT INDUSTRIES INC USA SOC.ETR. E.P...

 

 

- - NIPPON SOLVAY K.K. SOC.ETR. E.P.B.

 

 

- - SOLVAY ADVANCED SILICAS POLAND SP

 

 

- - SOLVAY AMERICA, INC

 

 

- - SOLVAY BARIO E DERIVATI S.P.A. SOC.ETR. ...

 

 

- - SOLVAY CHEMICALS AND PLASTICS HOLDING SO...

 

 

- - SOLVAY CHIMICA ITALIA S.P.A. SOC.ETR. E....

 

 

- - SOLVAY CHIMIE SRL SOC.ETR. E.P.B.

 

 

- - SOLVAY CHIMIKA SA

 

 

- - SOLVAY FINANCE LUXEMBOURG SA

 

 

- - SOLVAY FLUORIDES, LLC

 

 

- - SOLVAY GMBH SOC.ETR. E.P.B.

 

 

- - SOLVAY HONG-KONG LTD SOC.ETR. E.P.B.

 

 

- - SOLVAY IBERICA

B61426177

31-12-2013

- - SOLVAY LTD (SHANGHAÏ) SOC.ETR. E.P.B.

 

 

- - SOLVAY NORDIC A.B. SOC.ETR. E.P.B.

 

 

- - SOLVAY POLYMERS AND CHEMICALS SOUTH AFRI...

 

 

- - SOLVAY (SCHWEIZ) AG

CHE101601183

 

- - SOLVAY SOLUTIONS ITALIA S.P.A. SOC.ETR. ...

 

 

- - SOLVAY SPECIAL CHEMICALS CO LTD

 

 

- - SOLVAY SPECIALTY POLYMERS ITALY S.P.A.

 

 

- - SOLVAY SPECIALTY POLYMERS KOREA COMPANY ...

 

 

- - SOLVAY TAIWAN LTD SOC.ETR. E.P.B.

 

 

- - SOLVAY UK HOLDING COMPANY LTD SOC.ETR. E...

 

 

- - SOLVAY-CHEM SPOL. S.R.O. SOC.ETR. E.P.B.

 

 

- - SOLVAY-SLOVCHEM SPOL. S.R.O. SOC.ETR. E....

 

 

 

 

MINORITY SHAREHOLDERS

 

Business number

Company  name

%

Date  of accounts

423898710

Solvac  NV

30.18

31/12/2014

448774854

Differo  EBVBA

25

31/12/2013

882759287

Solvay  Stock  Option  Management

2.03

31/12/2014

 

SPRL

 

 

447405768

New  Management  Company  SA

0.33

30/09/2014

830270609

GPRM  SPRL

0.02

31/12/2013

 

 

MINORITY INTERESTS

No minority interests found

 

 

COMPANIES THAT MATCH THIS ADDRESS

 

Business  number

 

Company  name

Date  of  accounts

847636280

FIDELIO-CHEM  SA

31/12/2013

 

 

Linked Companies

 

SUMMARY

 

Group - Number of Companies             44

Linkages - Number of Companies        1243

Number of Countries                            91

 

 


LINKED COMPANIES

 

 

NUMBER

LATEST  KEY FINANCIALS

TURNOVER

BASF INDIA

00113972

31.03.2015

€723.648.577

WINTERSHALL NORGE AS

985224323

31.12.2014

585.520.718 KNOK

CONTEC

-

31.03.2015

€193.107.135

BASF AS

911434016

31.12.2013

254.443 KNOK

BASF NEDERLAND B.V.

09022883

31.12.2014

€494.517.000

SOLVAY PARTICIPATIONS FRANCE

420837684

31.12.2013

-

SOLVAY FINANCE FRANCE

757801261

31.12.2013

-

SOLVAY SOCIETE' ANONYME

00089900492

-

-

RHODIA

352170161

31.12.2008

€6.000.000

RHODIA

352170161

31.12.2008

€6.000.000

BASF SE

HRB  6000

31.12.2014

€76.715.000.000

RHODIA OPERATIONS

622037083

31.12.2013

€2.279.475.172

RHODIANYL

399135482

31.12.2013

-

BASF AGRO B.V.

09113314

31.12.2014

€1.093.881.598

RHODIA HOLDINGS LIMITED

03129113

31.12.2013

-

SOLVAY FINANCE LUXEMBOURG

S.A.

B39650

31.12.2012

-

SOLVAY SPECIALTY POLYMERS

ITALY S.P.A.

03521920961

31.12.2013

€665.653.000

SOLVAY LUXEMBOURG S.À R.L.

B101280

31.12.2013

-

SOLVAY GMBH

HRB  53686

31.12.2013

€155.963.000

BASF AGROCHEMICAL

PRODUCTS B.V.

09113315

31.12.2014

€491.545.594

 

 

SUMMONS

 

Legal event type

Social Security Summons

 

 

Event date

24/04/2014

 

 

Court type

 

Court name

Brussel

Creditor's name

Office National de Sécurité Sociale

3rd party type

Summoning Party

 

 

 

 

Legal event type

Social Security Summons

 

 

Event date

24/04/2014

 

 

Court type

 

Court name

Bruxelles

Creditor's name

Office National de Sécurité Sociale

3rd party type

Summoning Party

 

 

 

 

Legal event type

Social Security Summons

 

 

Event date

22/01/2009

 

 

Court type

 

Court name

BRUXELLES

Creditor's name

 

3rd party type

 

 

PROTESTED BILLS

There is no data for this company

 

BANKRUPTCY AND OTHER LEGAL EVENTS

There is no data for this company

 

 

Director details

 

CURRENT DIRECTOR DETAILS

 

Name

BERNARD  DE  LAGUICHE

Position

Director

Start  Date

01/03/2006

End  Date

09/05/2017

Street

3305 RUA  PROF  PARIGOT  DE  SOUZA

Post  code

0

Country

Argentina

 

 

Name

BERNARD  DE  LAGUICHE

Position

Director

Start  Date

01/03/2006

End  Date

09/05/2017

Street

3305 RUA  PROF  PARIGOT  DE  SOUZA

Post  code

0

Country

Argentina

 

 

Name

HERVÉ  FRANÇOIS  COPPENS  D'EECKENBRUGGE

Position

Director

Start  Date

12/05/2009

Date  of  birth

19/10/1957

Street

152 BARON  ALBERT  D'HUARTLAAN  KRAAINEM

Post  code

1950

Country

Belgium

 

 

Name

NICOLAS  JACQUES  ETIENNE  BOËL

Position

Director

Start  Date

15/07/2009

Date  of  birth

04/10/1962

Street

75 AVENUE  DES  GRANDS  PRIX  BRUSSELS

Post  code

1150

Country

Belgium

 

 

Name

FRANÇOISE  DE  VIRON

Position

Director

Start  Date

14/05/2013

End  Date

09/05/2017

Date  of  birth

15/06/1955

Street

RUE  SAINT-MARTIN  WALHAIN

Post  code

1457

Country

Belgium

 

 

Name

JEAN-PIERRE  CLAMADIEU

Position

Director

Start  Date

03/06/2012

Date  of  birth

15/08/1958

Street

82 CHAUSSÉE  DE  CHARLEROI  BRUSSELS

Post  code

1060

Country

Belgium

 

 

Position

Chairman  Executive  Committee

Start  Date

24/10/2012

Date  of  birth

15/08/1958

Street

82 CHAUSSÉE  DE  CHARLEROI  BRUSSELS

Post  code

1060

Country

Belgium

 

 

Name

JACQUES  VAN  RIJCKEVORSEL

Position

Director

Start  Date

16/12/2010

Street

56 RUE  DE  L'ORME  BRUSSELS

Post  code

1030

Country

Belgium

 

 

Name

DENIS  MICHEL  MARIE  SOLVAY

Position

Director

Start  Date

11/05/2010

Date  of  birth

07/01/1957

Street

RUE  ACHILLE  FIÉVEZ  GENAPPE

Post  code

1474

Country

Belgium

 

 

Name

BERNARD  PHILIPPE  MARIE  DE  LAGUICHE

Position

Member  of  the  Board  of  Directors

Start  Date

15/02/2006

Date  of  birth

30/08/1959

Street

 

Post  code

 

Country

Brazil

 

 

Name

MICHEL  GILLES

Position

Director

Start  Date

13/05/2014

Date  of  birth

10/01/1956

Street

 

Post  code

 

Country

France

 

 

Name

GILLES  MICHEL

Position

Director

Start  Date

13/05/2014

End  Date

08/05/2018

Street

LE  BIJOU

Post  code

 

Country

France

 

 

Name

AMPARO  MORALEDA

Position

Director

Start  Date

14/05/2013

End  Date

09/05/2017

Street

21 CALLE  DE  RODRIGUEZ  MARIN

Post  code

28002

Country

Spain

 

 

Name

MARIA  AMPARO  MORALEDA  MARTINEZ

Position

Director

Start  Date

14/05/2013

Date  of  birth

28/05/1964

Street

 

Post  code

 

Country

Spain

 

 

Name

CHARLES  CASIMIR-LAMBERT

Position

Director

Start  Date

08/05/2007

Date  of  birth

27/02/1967

Street

2 CHEMIN  DES  TULIPIERS

Post  code

1297

Country

Switzerland

 

 

Name

LE  CHEVALIER  GUY  DE  SELLIERS  DE  MORANVILLE

Position

Director

Start  Date

12/08/2005

Street

 

Post  code

 

Country

United  Kingdom

 

 

Name

GUY  DE  SELLIERS  DE  MORANVILLE

Position

Director

Start  Date

02/06/2005

Date  of  birth

14/06/1952

Street

 

Post  code

 

Country

United  Kingdom

 

 

Name

ROSEMARY  THORNE

Position

Director

Start  Date

13/05/2014

End  Date

08/05/2018

Date  of  birth

12/02/1952

Street

11 BRYANSTON  SQUARE

Post  code

W1H  2DQ

Country

United  Kingdom

 

 

Name

HERVÉ  COPPENS-D'EECKENBRUGGE

Position

Director

Start  Date

12/05/2009

Street

 

Post  code

 

Country

 

 

 

Name

WERNER  CAUTREELS

Position

Director

Start  Date

11/12/2008

Street

 

Post  code

 

Country

 

 

 

Name

BERNHARD  SCHEUBLE

Position

Director

Start  Date

10/05/2006

Street

 

Post  code

 

Country

 

 

 

Name

GUY  DE  SELLIERS  DE  MORANVILLE

Position

Director

Start  Date

02/06/2005

Street

 

Post  code

 

Country

 

 

 

Name

JACQUES  VAN  RIJCKEVORSEL

Position

Director

Start  Date

16/12/2010

Street

 

Post  code

 

Country

 

 

 

Name

EVELYN  JANSSEN

Position

Director

Start  Date

11/05/2010

Street

 

Post  code

 

Country

 

 

 

CURRENT MANDATES IN OTHER COMPANIES

 

Name

Société  Intercommunale  Bep-Expansion  Economique  SCRL

Business  number

201400011

Position

Director

Start  Date

10/08/2010

 

 

Name

International  Council  of  Chemical  Associations  ORG.INTERNAT

Business  number

826879963

Position

Director

Start  Date

04/10/2013

 

 

Name

Solvay  -  Coordination  Internationale  des  Credits  Commerciaux  SA

Business  number

425487035

Position

Chairman  of  the  Board

Start  Date

01/07/2008

 

 

Business  number

448967963

Position

Principal  Manager

Start  Date

30/12/1997

 

 

Business  number

461989125

Position

Principal  Manager

Start  Date

11/10/2012

 

 

Business  number

461989125

Position

Principal  Manager

Start  Date

11/10/2012

 

 

Business  number

425487035

Position

Director

Start  Date

26/08/2008

End  Date

07/05/2017

 

 

Business  number

422926433

Position

Legal  Representative

Start  Date

01/01/1982

 

 

Business  number

461989125

Position

Partner

Start  Date

04/10/2012

 

 

Business  number

461989125

Position

Partner

Start  Date

04/10/2012

 

 

Name

Belgian  Indusctrial  R&B  Board  ASBL

Business  number

534715765

Position

Director

Start  Date

27/03/2013

 

 

Name

Attentia  Prévention  &  Protection  ASBL

Business  number

409440463

Position

Director

Start  Date

18/07/2012

End  Date

30/06/2015

 

 

Name

Fonds  de  Pension  des  Cadres  du  Groupe  Solvay  en  Belgique  en  liquidation  OFP

Business  number

430206777

Position

Partner

Start  Date

21/06/2013

 

 

Business  number

430206777

Position

Partner

Start  Date

21/06/2013

 

 

Name

Instelling  voor  bedrijfspensioenvoorzieningen  VZW

Business  number

430206876

Position

Partner

Start  Date

29/10/2013

 

 

Name

nanotechnology  Industries  Ass.  ORG.INTERNAT

Business  number

810218531

Position

Director

Start  Date

19/12/2012

 

 

Name

Innovation  Fund  SA

Business  number

598764469

Position

Director

Start  Date

10/02/2015

 

 

FORMER DIRECTOR DETAILS

 

Name

NICOLAS  JACQUES  ETIENNE  BOËL

Position

Chairman  of  the  Board

Start  Date

09/05/2012

End  Date

14/05/2013

Date  of  birth

04/10/1962

Street

75 AVENUE  DES  GRANDS  PRIX  BRUSSELS

Post  code

1150

Country

Belgium

 

 

Name

EVELYN  DU  MONCEAU  DE  BERGENDAL

Position

Director

Start  Date

11/05/2010

End  Date

11/05/2013

Street

14 AVENUE  DES  FLEURS  BRUSSELS

Post  code

1150

Country

Belgium

 

 

Name

HERVÉ  BARON  COPPENS  D'EECKENBRUGGE

Position

Director

Start  Date

12/05/2009

End  Date

14/05/2013

Street

152 AV.  BARON  ALBERT  D'HUART  KRAAINEM

Post  code

1950

Country

Belgium

 

 

Name

ATON  VAN  ROSSUM

Position

Director

Start  Date

09/05/2006

End  Date

13/05/2014

Street

10 AVENUE  PETITE  ESPINETTE  BRUSSELS

Post  code

1180

Country

Belgium

 

 

Name

DENIS  MICHEL  MARIE  SOLVAY

Position

Vice  Chairperson

Start  Date

02/06/2005

End  Date

08/05/2012

Date  of  birth

07/01/1957

Street

RUE  ACHILLE  FIÉVEZ  GENAPPE

Post  code

1474

Country

Belgium

 

 

Name

ANTON  VAN  ROSSUM

Position

Director

Start  Date

01/08/2006

End  Date

13/05/2014

Date  of  birth

12/05/1945

Street

10 AVENUE  DE  LA  PETITE  ESPINETTE  BRUSSELS

Post  code

1180

Country

Belgium

 

 

Name

JEAN  VAN  ZEEBROECK

Position

Director

Start  Date

06/06/2002

End  Date

14/05/2013

Street

1 RUE  FONTAINE  GREZ-DOICEAU

Post  code

1390

Country

Belgium

 

 

Name

JACQUES  SAVERYS

Position

Director

Start  Date

24/10/2007

End  Date

08/05/2007

Street

176 KLEISTRAAT  AARTSELAAR

Post  code

2630

Country

Belgium

 

 

Name

EVELYN  DU  MONCEAU

Position

Director

Start  Date

11/05/2010

End  Date

31/12/2012

Date  of  birth

15/12/1950

Street

14 AVENUE  DES  FLEURS  BRUSSELS

Post  code

1150

Country

Belgium

 

 

Name

YVES  BÖEL

Position

Chairman  of  the  Board

Start  Date

23/07/1998

End  Date

04/06/1998

Street

21 JEANNELAAN  BRUSSELS

Post  code

1050

Country

Belgium

 

 

Name

LUIGI  BELLI

Position

Director

Start  Date

18/07/2006

End  Date

Unknown  date

Street

18 RUE  DE  BELLE-VUE  BRUSSELS

Post  code

1050

Country

Belgium

 

 

Name

CHRISTIAN  VERGEYLEN

Position

Legal  Representative

Start  Date

05/04/2006

End  Date

Unknown  date

Street

16 KASTEELSTRAAT  BEERSEL

Post  code

1650

Country

Belgium

 

 

Name

CHRISTIAN  JOURQIN

Position

Director

Start  Date

02/06/2005

End  Date

08/05/2012

Street

73 AV.  DE  LA  CONSTITUTION  BRUSSELS

Post  code

1083

Country

Belgium

 

 

Name

CHRISTIAN  FERNAND  JOSEPH  JOURQUIN

Position

Chairman  of  the  Board

Start  Date

27/06/2012

End  Date

16/01/2012

Date  of  birth

27/06/1948

Street

73 AVENUE  DE  LA  CONSTITUTION  BRUSSELS

Post  code

1083

Country

Belgium

 

 

Position

Director

Start  Date

02/06/2005

End  Date

31/12/2013

Date  of  birth

27/06/1948

Street

73 AVENUE  DE  LA  CONSTITUTION  BRUSSELS

Post  code

1083

Country

Belgium

 

 

Name

KAREL  VAN  MIERT

Position

Director

Start  Date

05/06/2003

End  Date

Unknown  date

Date  of  birth

17/01/1942

Street

10 PUTTESTRAAT  BEERSEL

Post  code

1650

Country

Belgium

 

 

Name

JEAN-MARIE  'LE  LONGFONDS'  SOLVAY

Position

Director

Start  Date

06/06/2002

End  Date

31/12/2013

Street

115 CHAUSSÉE  DE  BRUXELLES  LA  HULPE

Post  code

1310

Country

Belgium

 

 

Name

HENRI  LEFEBVRE

Position

Director

Start  Date

14/12/2000

End  Date

Unknown  date

Street

9 RUE  MOTTE  DES  BERGERS  BRAINE-L'ALLEUD

Post  code

1421

Country

Belgium

 

 

Name

DANIEL  EMMANUEL  ADRIEN  JANSSEN

Position

Chairman  of  the  Board

Start  Date

20/02/2006

End  Date

Unknown  date

Date  of  birth

15/04/1936

Street

108 AVENUE  ERNEST  SOLVAY  LA  HULPE

Post  code

1310

Country

Belgium

Position

Director

Start  Date

08/07/2004

End  Date

Unknown  date

Date  of  birth

15/04/1936

Street

108 AVENUE  ERNEST  SOLVAY  LA  HULPE

Post  code

1310

Country

Belgium

 

 

Name

ALOÏS  MICHIELSEN

Position

Chairman  of  the  Board

Start  Date

05/06/1997

End  Date

14/05/2013

Date  of  birth

06/01/1942

Street

5 CHEMIN  DE  BAS-RANSBECK  LASNE

Post  code

1380

Country

Belgium

 

 

Position

Director

Start  Date

05/06/1997

End  Date

31/12/2013

Date  of  birth

06/01/1942

Street

5 CHEMIN  DE  BAS-RANSBECK  LASNE

Post  code

1380

Country

Belgium

 

 

Position

Member  of  the  Board  of  Directors

Start  Date

02/06/2005

End  Date

Unknown  date

Date  of  birth

06/01/1942

Street

5 CHEMIN  DE  BAS-RANSBECK  LASNE

Post  code

1380

Country

Belgium

 

 

Name

JEAN-JACQUES  VAN  DE  BERG

Position

Director

Start  Date

15/05/1997

End  Date

Unknown  date

Street

10 RUE  DES  FLEURS  RIXENSART

Post  code

1330

Country

Belgium

 

 

Name

BERNARD  PHILIPPE  MARIE  DE  LAGUICHE

Position

Director

Start  Date

12/08/2005

End  Date

Unknown  date

Date  of  birth

30/08/1959

Street

 

Post  code

 

Country

Brazil

 

 

Name

BERNARD  DE  LAGUICHE

Position

Director

Start  Date

01/03/2006

End  Date

31/12/2014

Street

760 AVENIDA  REPÚBLICA  ARGENTINA

Post  code

80240

Country

Brazil

 

 

Name

BERNARD  DE  LAGUICHE

Position

Director

Start  Date

01/03/2006

End  Date

31/12/2014

Street

760 AVENIDA  REPÚBLICA  ARGENTINA

Post  code

80240

Country

Brazil

 

 

Name

YVES-THIBAULT  DE  SILGUY

Position

Director

Start  Date

11/05/2010

End  Date

10/05/2011

Date  of  birth

22/07/1948

Street

 

Post  code

 

Country

France

 

 

Name

JEAN-MARTIN  FOLZ

Position

Director

Start  Date

06/06/2002

End  Date

13/05/2014

Street

3 ALLÉE  DES  DROCOURTES  CROISSY  SUR  SEINE

Post  code

78290

Country

France

 

 

Name

BERNARD  SCHEUBLE

Position

Director

Start  Date

09/05/2006

End  Date

31/12/2014

Date  of  birth

22/08/1953

Street

 

Post  code

 

Country

Germany

 

 

Name

AMPARO  MORALEDA

Position

Director

Start  Date

14/05/2013

End  Date

31/12/2014

Street

21 CALLE  DE  RODRIGUEZ  MARIN

Post  code

28002

Country

Spain

 

 

Name

PETRA  MATEOS

Position

Director

Start  Date

12/05/2009

End  Date

31/12/2012

Street

30 ALMIRANTE

Post  code

28004

Country

Spain

 

 

Name

PETRA  MATEOS-APARICIO  MORALES

Position

Director

Start  Date

12/05/2009

End  Date

31/12/2013

Date  of  birth

18/06/1945

Street

 

Post  code

 

Country

Spain

 

 

Name

HUBERT  BARON  DE  WANGEN

Position

Director

Start  Date

29/06/1981

End  Date

12/05/2009

Street

63 AVDADE  PEDRALBES

Post  code

08034

Country

Spain

 

 

Name

CASIMIR-LAMBERT  CHARLES

Position

Director

Start  Date

08/06/2007

End  Date

12/05/2015

Street

2 CHEMIN  DES  TULIPIERS

Post  code

1297

Country

Switzerland

 

 

Name

GUY  SELLIERS  DE  MORANVILLE

Position

Director

Start  Date

07/06/1993

End  Date

31/12/2013

Street

79 ELGIN  CRESCENT

Post  code

W11  2JE

Country

United  Kingdom

 

 

Name

K.  J.  MINTON

Position

Director

Start  Date

26/11/1997

End  Date

Unknown  date

Street

7 MIDWAY

Post  code

AL3  4BD

Country

United  Kingdom

 

 

Name

WHISTON  SADLER

Position

Director

Start  Date

06/06/2001

End  Date

31/12/2011

Street

2510 WESTGATE  STREET

Post  code

77019

Country

United  States

 

 

Name

RENE  DEGREVE

Position

Director

Start  Date

15/07/1999

End  Date

Unknown  date

Street

 

Post  code

 

Country

United  States

 

 

FORMER MANDATES IN OTHER COMPANIES

 

Name

Solvay  Folien  &  Cie  en  liquidation  VOF

Business  number

421839043

Position

Principal  Manager

Start  Date

19/08/1997

End  Date

Unknown  date

 

 

Name

Renolit  Belgium  NV

Business  number

402185952

Position

Principal  Manager

Start  Date

03/09/1999

End  Date

06/09/1999

 

 

Business  number

402185952

Position

Director

Start  Date

09/07/2002

End  Date

Unknown  date

Name

Flanders  Innovation  hub  for  Sustainable  CHemistry  ASBL

 

 

Business  number

842026316

Position

Director

Start  Date

21/12/2011

End  Date

Unknown  date

 

 

Business  number

458119122

Position

Director

Start  Date

27/05/2005

End  Date

Unknown  date

 

 

Name

Pipelife  Belgium  NV

Business  number

403848513

Position

Principal  Manager

Start  Date

15/05/1997

End  Date

Unknown  date

 

 

Name

Plasticseurope  ORG.INTERNAT

Business  number

416155338

Position

Chairman  of  the  Board

Start  Date

20/05/2010

End  Date

31/12/2012

 

 

Business  number

416155338

Position

Director

Start  Date

26/05/2011

End  Date

26/05/2014

 

 

Business  number

402550790

Position

Director

Start  Date

24/06/2000

End  Date

Unknown  date

Name

Conseil  Européen  de  l'Industrie  Chimique  AISBL

 

 

Business  number

412849915

Position

Vice  Chairperson

Start  Date

28/09/2012

End  Date

28/09/2014

 

 

Name

Solvay  Automot.Manag.&  Research  en  liquidation  SNC

Business  number

462167980

Position

Principal  Manager

Start  Date

15/05/2003

End  Date

Unknown  date

 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.63.61

UK Pound

1

Rs.97.27

Euro

1

Rs.69.63

 

 

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%)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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