MIRA INFORM REPORT

Report No. :	323267
Report Date :	19.05.2015

IDENTIFICATION DETAILS

Name :	COATS GMBH

Registered Office :	Kaiserstr. 1, D 79341 Kenzingen

Country :	Germany

Financials (as on) :	31.12.2013

Date of Incorporation :	1984

Com. Reg. No.:	HRB 270832

Legal Form :	Private Limited Company

Line of Business :	· Manufacture of other textiles · Manufacture of machinery for textile, apparel and leather production · Wholesale of textiles · Wholesale of machinery for the textile industry and of sewing and knitting machines

No. of Employees :	303

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)

Germany

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

Note

Your inquiry: Coats GmbH, Eduardstr. 44, D 73084 Salach

The subject of your inquiry is a branch. We are reporting on the headquarters.

Company name & address

COATS GMBH

Company Status: active

Kaiserstr. 1

D 79341 Kenzingen

Telephone:07644/802-0

Telefax: 07644/802-252

Homepage: www.coats.de

E-mail: kenzingen.vertrieb@coats.com

VAT no.: DE141939074

CONCLUSION

Business relations are permissible.

LEGAL FORM Private limited company

Date of foundation: 1984

Shareholders'

agreement: 20.03.1984

Registered on: 23.03.1987

Commercial Register: Local court 79098 Freiburg

under: HRB 270832

Share capital: EUR 12,000,000.00

Shareholder:

J.P.Coates Ltd.

GB - London

Legal form: Other legal form

Share: EUR 12,000,000.00

Manager:

Christine Susanne Bauer

Römerstr. 17

D 79117 Freiburg

born: 01.04.1967

Manager:

Silvio Silvester Voncina

D 76571 Gaggenau

born: 21.12.1969

Manager:

Frank Hoffmann

Porschestr. 7

D 73066 Uhingen

born: 21.08.1963

Manager:

Hans Michael Schofer

USA Charlotte NC

born: 25.12.1961

Nationality: USA

Proxy:

Ute Anna Kirsch

D 79098 Freiburg