MIRA INFORM REPORT

Report No. :	311183
Report Date :	12.03.2015

IDENTIFICATION DETAILS

Name :	VALCAMBI SA

Registered Office :	Via Passeggiata, 6828 Balerna/TI

Country :	Switzerland

Financials (as on) :	31.12.2013

Date of Incorporation :	15.05.1961

Com. Reg. No.:	524.3.000.427-6

Legal Form :	Company limited by shares

Line of Business :	Manufacture of Other Fabricated Metal Products n.e.c.

No. of Employees :	210

RATING & COMMENTS

MIRA’s Rating :

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)

Switzerland

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
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

Company Name

Valcambi SA

Operating address

Via Passeggiata

6828 Balerna/TI

Switzerland/CH

Telephone: 091 6955311

Fax: 091 6955353

091 6955354

Web site: http://www.valcambi.com

E-mail: info@valcambi.com

WIN Worldbox No.: CH0000426127

VAT-No.: CHE-116.325.425 MWST

UID-No.: CHE102067731

Profile

Established: 1961

Line of Business: Metal/steel

Industry Division: Manufacturing

Industry-code (NACE): 2599 Manufacture of other fabricated metal products n.e.c.

Import/Export: Export

Export sales: 25,0%

Quality certification: ISO 9001:2008 (since 1996)

ISO 14001:2004 (since 2010)

Banks: CS Credit Suisse

Operational Figures

Coverage: Company

Figures: estimated

Financial year: 2014

Employees: 210

Sales: CHF 55,000,000.--

Activity

The business activities includes a complete range of services, from refining through to the manufacture of cast and minted bars, assaying, the development of specialist semi-finished products for the watch industry, as well as design and manufacture of coins, medals, blanks and complex alloys.

Annual combined refining capacity: approximately 2'000 tons of precious metals

Refining throughput 2013: 5.4 tons per day

Real Estate

Real Estate: It is understood that the company owns certain property.

Company Register

Company No: 524.3.000.427-6

UID-No.: CHE102067731

Legal form: Company limited by shares

Registration: 15.05.1961

Legal status: active

Responsible Register: Registro di commercio del Cantone Ticino

History: Date of Statutes: 14.12.1981

Date of Statutes: 05.06.1985

Date of Statutes: 19.05.1995

Date of Statutes: 07.05.1993

Date of Statutes: 17.12.1980

Date of Statutes: 23.12.1968

Date of Incorporation Statutes: 10.05.1961

Date of Statutes: 25.05.2004

Entry Deleted Name

active Valcambi SA

Entry Deleted Legal domicile

active Balerna, Switzerland

Entry Deleted Address

active 6828 Balerna/TI, Switzerland/CH

Entry Deleted Capital

active Share Capital CHF 12,000,000, paidup CHF 12,000,000

Entry Deleted Capital Structure

26.05.2004 12,000 Registered shares of CHF 1,000.--

Official Administration

Title Name

Director Carlo Camponovo

Citizen: Chiasso, Switzerland

Residential address: 6924 Sorengo/TI, Switzerland

joint signature of two

Registered since: 28.07.2009

Director David Robert Faley

Citizen: United States of America

Residential address: Greenwood Village, United States of America

joint signature of two

Registered since: 03.02.2012

Director Thomas P. Mahoney

Citizen: United States of America

Residential address: Denver, United States of America

joint signature of two

Registered since: 23.07.2008

Director Luciano Martelli

Citizen: Balerna, Switzerland

Residential address: Balerna, Switzerland

joint signature of two

Registered since: 22.12.2003

Director Micheal Mesaric

Citizen: Muri AG, Switzerland

Residential address: Wollerau, Switzerland

joint signature of two

Registered since: 08.06.1999

Director Andrew Michael Strelein

Citizen: Australia

Residential address: East Perth, Australia

joint signature of two

Registered since: 03.02.2012

Management

Title Name

Director Micheal Mesaric

Citizen: Muri AG, Switzerland

Residential address: Wollerau, Switzerland

joint signature of two

Registered since: 08.06.1999

Member with procuration Massimo Blattner

Citizen: Ermatingen, Switzerland

Residential address: Balerna/TI, Switzerland

Born: 10.02.1962