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Report No. : |
322622 |
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Report Date : |
18.05.2015 |
IDENTIFICATION DETAILS
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Name : |
VARIAN MEDICAL SYSTEMS INTERNATIONAL AG |
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Registered Office : |
Hinterbergstrasse 14 6330 Cham/ZG
Switzerland/CH |
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Country : |
Switzerland |
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Financials (as on) : |
28.09.2012 |
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Date of Incorporation : |
30.10.1959 |
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Com. Reg. No.: |
170.3.001.584-3 / 454212 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
Manufacture of irradiation, electromedical and electrotherapeutic
equipment |
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No. of Employees : |
170 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
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 |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 responded to 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 hurt Switzerland's long history of bank secrecy.
|
Source
: CIA |
VARIAN MEDICAL
SYSTEMS INTERNATIONAL AG
Hinterbergstrasse
14
6330 Cham/ZG
Switzerland/CH
Telephone: 041
7498844
Fax: 041
7403340
Web
site: http://www.varian.com
E-mail: info.europe@ch.varian.com
WIN
Worldbox No.: CH0000032239
VAT-No.: CHE105742500
Established: 1959
Line
of Business: Medical technology, Consumer
goods wholesale
Industry
Division: Manufacturing,
Wholesale trade
Industry-code (NACE): 2660 Manufacture of irradiation,
electromedical and electrotherapeutic equipment
4669 Wholesale of other machinery and
equipment
Import/Export: Import, Export
Quality
certification: ISO 9001
ISO 13485
Banks: CS Credit Suisse
Coverage: Company
Figures: estimated
Financial
year: 2014
Employees: 170
Sales: CHF 40-60 Mio
Varian Medical Systems radiates success in electrotherapeutics.
The company works mainly with products related to x-rays and radiation
treatment of cancer. The company's oncology unit makes linear accelerators,
simulators, and data management software, primarily for cancer radiotherapy.
Other cancer treatment offerings include devices for brachytherapy, a treatment
that protects healthy tissue through the use of radiation implants. Varian
Medical Systems' X-ray unit makes imaging subsystems and X-ray-generating tubes
for medical imaging, security, and OEM applications.
Real
Estate: It is understood
that the company owns certain property.
Company
No: 170.3.001.584-3 / 454212
Legal
form: Company limited by
shares
Registration: 30.10.1959
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Zug
History: Date of Statutes:
17.03.1989
Date of
Statutes: 21.11.2013
Date of
Statutes: 26.03.1999
Date of
Statutes: 08.04.1997
Entry Deleted Name
06.04.1999 Varian
Medical Systems International AG
06.04.1999 Varian
Medical Systems International SA (Name translated)
06.04.1999 Varian
Medical Systems International Ltd (Name translated)
06.04.1999 Varian International AG
22.04.1997 06.04.1999 Varian International Ltd (Name translated)
22.04.1997 06.04.1999 Varian International SA (Name translated)
Entry Deleted Legal domicile
27.11.2013 Steinhausen,
Switzerland
27.11.2013 Zug, Switzerland
Entry Deleted Address
27.11.2013 Hinterbergstrasse
14, 6330 Cham/ZG, Switzerland/CH
26.04.1995 Steinhauserstrasse, 6300 Zug/ZG,
Switzerland/CH
26.04.1995 27.11.2013 Chollerstrasse 38, 6300 Zug/ZG, Switzerland/CH
Entry Deleted Capital
active Share
Capital CHF 400,000, paidup CHF 400,000
Entry Deleted Capital Structure
active 400
Registered shares of CHF 1,000.--
Title Name
President John
Wei-Ching Kuo, Origin: United States of America, Residential address: Saratoga,
United States of America, single signature, Registered since: 14.06.2006
Vice-President Jörg Fässler, Origin:
Arth, Switzerland, Residential address: Baar, Switzerland, single signature,
Registered since: 18.12.2012
Director Martin
Amstutz, Origin: Engelberg, Switzerland, Residential address: Döttingen,
Switzerland, single signature, Registered since: 04.07.2012
Director Ole Hagen
Laustsen, Origin: Denmark, Residential address: Hellerup, Denmark, single
signature, Registered since: 17.02.2014
Director Michael
Sandhu, Origin: United Kingdom, Residential address: 6340 Baar/ZG, Switzerland,
single signature, Registered since: 05.06.2007
Title Name
Member
with procuration Ernst Anton
Hübner, Origin: Germany, Residential address: Ingenbohl, Switzerland, single
power of attorney, Registered since: 26.09.2014
Member
with procuration Roger
Leibundgut, Origin: Rüegsau, Switzerland, Residential address: 6289
Müswangen/LU, Switzerland, single power of attorney, Registered since:
05.06.2007
Member
with procuration Luis
(Fernando) Martin Rodriguez, Origin: Spain, Residential address: Baar,
Switzerland, single power of attorney, Registered since: 05.06.2007
Member
with procuration Rolf
Stähelin, Origin: Sommeri, Switzerland, Residential address: 8952 Schlieren/ZH,
Switzerland, single power of attorney, Registered since: 05.06.2007
Title Name
Auditor PricewaterhouseCoopers
AG, Residential address: Zürich, Switzerland, Id: CH-020.3.020.876-5,
Registered since: 19.04.1999
Title Name
Chief
Marketing Officer Rolf
Stähelin
Varian Medical
Systems Inc
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 28.09.2012 30.09.2011 30.09.2010 30.09.2009 30.09.2008
Number of months: 12 12 12 12 12
Currency: th.
USD th. USD th. USD th. USD th.
USD
Balance Sheet
Intangible fixed
assets 222,242.0 212,452.0 208,451.0
Tangible fixed
assets 296,592.0 285,894.0 267,927.0
Financial fixed
assets 0.0
other fixed assets 189,377.0 145,798.0 166,230.0
Fixed assets 708,211.0 644,144.0 642,608.0
Stocks 457,869.0 409,962.0 363,933.0
Trade accounts
receivable 635,153.0 591,677.0
Liquid assets 704,570.0 564,457.0 520,221.0
Securities 19,205.0
other trade
accounts 225,840.0 205,513.0
Other current
assets 809,502.0 725,734.0
Current assets 2,170,515.0 1,854,617.0 1,681,344.0
Total assets 2,878,726.0 2,498,761.0 2,323,952.0 2,308,200.0 1,975,512.0
Capital 112,344.0 118,007.0
Other shareholders
funds 1,131,547.0 1,157,360.0
Total shareholders
equity 1,509,776.0 1,243,891.0 1,275,367.0 1,311,800.0 1,027,185.0
Minority interests 0.0
long term debt
(financial debts) 6,250.0 6,250.0 17,869.0
Provisions 0.0
Other non current
liabilities 126,169.0 122,708.0 127,175.0
Non current
liabilities 132,419.0 128,958.0 145,044.0
short term debt
(financial debts) 181,400.0 20,000.0
Trade accounts
payable 154,946.0 119,018.0
Accruals 290,009.0 287,851.0
other accounts
payable 499,557.0 476,672.0
other current
liabilities 789,566.0 764,523.0
Current
liabilities 1,236,531.0 1,125,912.0 903,541.0
Shareh. equity,
min. interests + liabilities 2,878,726.0 2,498,761.0 2,323,952.0
Profit and loss
account
Sales 2,596,666.0 2,356,585.0
Net sales 2,807,015.0 2,596,666.0 2,356,585.0
Operating revenue 2,596,666.0 2,356,585.0 2,214,100.0 2,069,730.0
Cost of goods sold 1,460,777.0 1,330,943.0
Gross profit 1,135,889.0 1,025,642.0
Other operating
expenses 547,438.0 491,440.0
Operating result 594,074.0 588,451.0 534,202.0 474,100.0 419,404.0
Interest revenues 2,858.0 2,831.0
Financial income 2,858.0 2,831.0
Interest expenses 2,599.0 4,108.0
Financial expenses 2,599.0 4,108.0
Financial result 259.0 -1,277.0
Result before
extraordinary items 588,710.0 532,925.0
Extraordinary
expenses 9,693.0 7,059.0
Extraordinary
Result -9,693.0 -7,059.0
Result before
taxes 579,017.0 525,866.0
Taxes 180,084.0 165,444.0
Result before
minority interests 398,933.0 360,422.0 319,000.0 279,500.0
Result for the
financial year 427,049.0 398,933.0 360,422.0
Cash flow
Depreciation 49,643.0 44,973.0 44,600.0 32,247.0
Cash flow 448,576.0 405,395.0
Cash flow from
operating activities 472,779.0 460,786.0
Investments in
tangible fixed assets 70,928.0 67,545.0 62,600.0 81,424.0
Cash flow from
investing activities -117,932.0 -74,815.0
Cash flow from
financing activities -311,335.0 -422,175.0
Others 724.0 2,896.0
Change in
liquidity 44,236.0 -33,308.0
Liquidity at
beginning of the year 520,221.0 553,529.0
Liquidity at end
ot the year 564,457.0 520,221.0
Notes
Research and
Development 170,725.0 156,748.0
Added value 631,259.0 529,974.0
Working Capital 890,169.0 836,592.0
Sales per Employee 455.6
Gross cost land
and buildings 254,500.0 231,800.0
Gross cost other
tangible fixed assets 346,600.0 331,000.0
Gross cost total 601,100.0 562,800.0
Employees at year end 5,700 5,100 4,900
Name: Varian Medical Systems
Inc
City/Country: Palo Alto/California, United
States of America/US
No.
of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Type: direct, Group-Level 1
Name: Varian Medical Systems
Inc
City/Country: Palo Alto/California, United States
of America/US
Interest: 100,00% voting right,
100,00% capital interest
Name: Bio-Imaging Research,
Inc
City/Country: Illinois/Illinois, United States
of America/US
Name: Centella
Biotechnologies, Inc
City/Country: Delaware/Delaware, United States
of America/US
Name: Mansfield Insurance
Company
City/Country: Vermont/Vermont, United States
of America/US
Name: Page Mill Corporation
City/Country: Massachusetts/Massachusetts,
United States of America/US
Name: Pan-Pacific
Enterprises, Inc
City/Country: Delaware/Delaware, United States
of America/US
Name: Varian BioSynergy, Inc
City/Country: Delaware/Delaware, United States
of America/US
Name: Varian China Holdings,
Inc
City/Country: Delaware/Delaware, United States
of America/US
Name: Varian FSC B.V
City/Country: Netherlands/NL
Name: Varian Medical France
City/Country: France/FR
Name: Varian Medical Systems
Australasia Pty Ltd
City/Country: Australia/AU
Name: Varian Medical Systems
Beijing Co. Ltd
City/Country: China/CN
Name: Varian Medical Systems
Belgium N.V
City/Country: Belgium/BE
Name: Varian Medical Systems
Brasil Limitada
City/Country: Brazil/BR
Name: Varian Medical Systems
Canada Holdings, Inc.
City/Country: Delaware/Delaware, United States
of America/US
Name: Varian Medical Systems
Canada, Inc
City/Country: Canada/CA
Name: Varian Medical Systems
Deutschland G.m.b.H.
City/Country: Germany/DE
Name: Varian Medical Systems
Deutschland Holdings G.m.b.H
City/Country: Germany/DE
Name: Varian Medical Systems
Finland OY
City/Country: Finland/FI
Name: Varian Medical Systems
Gesellschaft m.b.H.
City/Country: Austria/AT
Name: Varian Medical Systems
Haan G.m.b.H
City/Country: Germany/DE
Name: Varian Medical Systems
Iberica S.L
City/Country: Spain/ES
Name: Varian Medical Systems
India Pvt. Ltd
City/Country: Delaware/Delaware, United States
of America/US
Name: Varian Medical Systems
International Holdings, Inc.
City/Country: Delaware/Delaware, United States
of America/US
Name: Varian Medical Systems
International (India) Private Limited
City/Country: MUMBAI/Maharashtra, India/IN
Name: Varian Medical Systems
Italia S.p.A.
City/Country: Italy/IT
Name: Varian Medical Systems
K.K. Japan
City/Country: Japan/JP
Name: Varian Medical Systems
Latin America, Ltd
City/Country: Delaware/Delaware, United States
of America/US
Name: Varian Medical Systems
Mauritius Ltd
City/Country: 19 CYBERCITY, EBENE,
Mauritius/MU
Name: Varian Medical Systems
Nederland B.V
City/Country: Netherlands/NL
Name: Varian Medical Systems
Nederland Holdings B.V.
City/Country: Netherlands/NL
Name: Varian Medical Systems
Pacific, Inc.
City/Country: Delaware/Delaware, United States
of America/US
Name: Varian Medical Systems
Particle Therapy GmbH
City/Country: Germany/DE
Name: Varian Medical Systems
(RUS) LLC
City/Country: Russia/RU
Name: Varian Medical Systems
Scandinavia AS
City/Country: Denmark/DK
Name: Varian Medical Systems
Trading (Beijing) Co., Ltd
City/Country: China/CN
Class: 100%
Name: Varian Medical Systems
Imaging Laboratory GmbH
City/Country: Baden-Dättwil/AG, Switzerland/CH
Interest: 100,00% voting right,
100,00% capital interest (since 2003)
Control date Year No. Amount CHF Status
28.10.2013 2013 0
28.10.2013 2012 0
28.10.2013 2011 0
31.12.2010 2010 0
09.10.2009 2009 0
09.10.2009 2008 0
09.10.2009 2007 0
09.10.2009 2006 0
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:
DEC 2012: CHF 1188.00, paid.
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 good.
Payment
experiences: Financial obligations are
met in an orderly manner.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.58 |
|
|
1 |
Rs.100.30 |
|
Euro |
1 |
Rs.72.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
ANK |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
|
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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 |
-- |
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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.