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Report No. : |
323509 |
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Report Date : |
27.05.2015 |
IDENTIFICATION DETAILS
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Name : |
SAURER AG |
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Registered Office : |
Bleikenstrasse 11, 9630 Wattwil/SG, Switzerland/CH |
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Country : |
Switzerland
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Date of Incorporation : |
1853 |
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Com. Reg. No.: |
170.3.037.683-0 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
Manufacture and sale of textile machinery, especially of embroidery machines
and apparatus. Products: roving frame, ring spinning, rotor spinning,
winding, twisting, embroidery machines. |
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No. of Employees : |
180 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 |
|
Risk Category |
ECGC
Classification |
|
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 |
SAURER AG
Bleikenstrasse 11
9630 Wattwil/SG
Switzerland/CH
Telephone: 071 9874444
Fax: 071 9874356
Web site: http://www.saurer.com
E-mail: info@saurer.com
WIN Worldbox No.: CH0009743927
VAT-No.: CHE-446.278.269
MWST
UID-No.: CHE213608293
Established: 1853
Line of Business: Machinery
Industry Division: Manufacturing
Industry-code (NACE): 2894 Manufacture of machinery for textile,
apparel and leather production
Import/Export: Import,
Export
Banks: Unknown
Coverage: Company
Figures: estimated
Financial year: 2015
Employees: 180
Sales: CHF 54,000,000.--
Branches: 1
The business activities includes the manufacture and sale of textile machinery,
especially of embroidery machines and apparatus. Products: roving frame, ring
spinning, rotor spinning, winding, twisting, embroidery machines.
Business units and brands:
Spinning: Saurer Schlafhorst, Saurer Zinser
Twisting: Saurer Allma, Saurer Volkmann
Pre-Spinning: Saurer Jinsheng
Embroidery: Saurer Embroidery
Components: Saurer Accotex, Saurer Heberlein, Saurer Daytex, Saurer
Temco, Saurer Fibrevision, Saurer Texparts
Real Estate: It is understood
that the company owns certain property.
Company No: 170.3.037.683-0
UID-No.: CHE213608293
Legal form: Company
limited by shares
Registration: 06.03.2013
Legal status: active
Responsible Register: Handelsregister
des Kantons St. Gallen
History: Date of Statutes:
28.06.2013
Date of Statutes:
14.05.2013
Date of Incorporation
Statutes: 05.03.2013
Entry Deleted Name
12.07.2013 SAURER
AG
12.07.2013 SAURER
SA (Name translated)
12.07.2013 SAURER
Inc. (Name translated)
06.03.2013 12.07.2013 S-Textile Swiss AG
06.03.2013 12.07.2013 S-Textile Swiss Ltd. (Name translated)
06.03.2013 12.07.2013 S-Textile Swiss SA (Name translated)
Entry Deleted Legal domicile
17.05.2013 Wattwil,
Switzerland
06.03.2013 17.05.2013 Baar, Switzerland
Entry Deleted Address
17.05.2013 Bleikenstrasse
11, 9630 Wattwil/SG, Switzerland/CH
06.03.2013 17.05.2013 Oberneuhofstrasse 6, 6340 Baar/ZG,
Switzerland/CH
Entry Deleted Capital
06.03.2013 Share
Capital CHF 1,000,000, paidup CHF 1,000,000
Entry Deleted Capital Structure
24.05.2013 1,000,000
Registered shares of CHF 1.--
Entry Deleted Branches
18.06.2013 Textilstrasse
2, 9320 Arbon/TG, Switzerland/CH
Title Name
President Daniel Christian
Lippuner
Citizen: Grabs,
Switzerland
Residential address: Altendorf,
Switzerland
joint signature of two
Registered since:
30.08.2013
Vice-President Zhengping Zeng
Citizen: Germany
Residential address:
Shanghai, China
joint signature of two
Registered since:
30.09.2013
Title Name
Member with signing authority Ivan
Cunha Lima
Citizen: Zofingen,
Switzerland
Residential address:
Wil/SG, Switzerland
joint signature of two
Registered since:
14.02.2014
Member with signing authority Arndt
Hamann
Citizen: Germany
Residential address:
Mönchengladbach, Germany
joint signature of two
Registered since:
11.03.2014
Member with signing authority Stefan
Himmelberger
Citizen: Schwellbrunn,
Switzerland
Residential address:
Wilen bei Wil (Wilen)/TG, Switzerland
joint signature of two
Registered since: 30.09.2013
Member with signing authority Klaus
Lorenz
Citizen: Germany
Residential address:
Wattwil/SG, Switzerland
joint signature of two
Registered since:
12.06.2014
Member with signing authority Martin
Meier
Citizen: Oberägeri,
Switzerland
Residential address:
Wiesendangen, Switzerland
joint signature of two
Registered since:
18.03.2015
Member with signing authority Christiane
Worms
Citizen: Germany
Residential address:
Mönchengladbach, Germany
joint signature of two
Registered since:
30.09.2013
Title Name
Auditor PricewaterhouseCoopers AG
Residential address:
St. Gallen, Switzerland
Id: CHE-364.598.872
Registered since:
09.12.2013
Name: Jiangsu Jinsheng Industry
Co., Ltd.
City/Country: Jintan, China/CN
No. of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Type: indirect, Group-Level 1
Name: Jiangsu Jinsheng Industry
Co., Ltd.
City/Country: Jintan, China/CN
Interest: 100,00% voting
right, 100,00% capital interest (since 03.07.2013)
Class: 100%
Type: indirect, Group-Level 2
Name: Saurer Hong Kong Machinery
Company Limited
City/Country: Central, Hong
Kong/HK
Interest: 100,00% voting
right, 100,00% capital interest (since 03.07.2013)
Class: 100%
Type: indirect, Group-Level 3
Name: Saurer Netherlands
Machinery Company B.V.
City/Country: Amsterdam,
Netherlands/NL
Interest: 100,00% voting
right, 100,00% capital interest (since 03.07.2013)
Class: 100%
Type: direct
Name: Aktiengesellschaft Adolph
Saurer
City/Country: Arbon/TG,
Switzerland/CH
Interest: 100,00% voting
right, 100,00% capital interest (since 06.03.2013)
It is believed that the company has no investments.
Balance sheet publication:
The subject company does not publish balance sheet or turnover figures.
Official bankruptcy reports:
No bankruptcy publications available on the subject.
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.
The company is not listed in the World Compliance database.
Payment experiences from pre-legal collection cases:
No payment experiences from pre-legal collection cases are available.
Payment experiences from collection cases:
No payment experiences from legal collection cases are available.
Mode of payment / Business conduct:
There are no complaints about the mode of payment and the business
conduct.
Note: The VAT number - CHE-446.278.269 MWST - is the Group VAT number.
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 difficult to assess.
Payment experiences: There are no
objections regarding the payment of financial obligations.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.85 |
|
|
1 |
Rs.98.38 |
|
Euro |
1 |
Rs.69.64 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
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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 |
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<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.