MIRA INFORM REPORT

Report No. :	348581
Report Date :	19.11.2015

IDENTIFICATION DETAILS

Name :	GEBRÜDER LOEPFE AG

Registered Office :	Kastellstrasse 10, Postfach 582, 8623 Wetzikon/ZH

Country :	Switzerland

Year of Establishment :	1955

Com. Reg. No.:	020.3.005.644-3

Legal Form :	Company limited by shares

Line of Business :	Subject is produces and sells electronic control systems that are mainly produced for spinning mills, weaving mills and other textile machines.

No. of Employee :	150

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 – March 31, 2015

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

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 Swiss exports. The global financial crisis of 2008 and resulting economic downturn in 2009 stalled demand for Swiss exports and put Switzerland into a recession. During this period, the Swiss National Bank (SNB) implemented a zero-interest rate policy to boost the economy, as well as to prevent appreciation of the franc, and Switzerland's economy began to recover in 2010.

The sovereign debt crises unfolding in neighboring euro-zone countries, however, coupled with ongoing economic instability in Russia and other eastern European economies continue to pose a significant risk to the Swiss economy, driving up demand for the Swiss franc by investors seeking a safe-haven currency. In January 2015, the SNB abandoned the Swiss franc’s peg to the Euro, roiling global currency markets and making active SNB intervention a necessary hallmark of present-day Swiss monetary policy. 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 from 2011-14.

In recent years, Switzerland has responded to increasing pressure from neighboring countries and trading partners to reform its banking secrecy laws, by agreeing to conform to OECD regulations on administrative assistance in tax matters, including tax evasion. The Swiss government has also renegotiated its double taxation agreements with numerous countries, including the US, to incorporate OECD standards, and is openly considering the possibility of imposing taxes on bank deposits held by foreigners.

Source : CIA

Company name and address

GEBRÜDER LOEPFE AG

Operating address:

Kastellstrasse 10

Postfach 582

8623 Wetzikon/ZH

Switzerland/CH

Telephone: 043 4881111

Fax: 043 4881100

043 4881103

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

E-mail: info@loepfe.com

WIN Worldbox No.: CH0000130254

VAT-No.: CHE-108.793.764 MWST

UID-No.: CHE108793764

Profile

Established: 1955

History: 1994: Limited company

1955: Established from Helmut + Erich Loepfe

Line of Business: Measurement and control technology

Industry Division: Manufacturing

Industry-code (NACE): 2651 Manufacture of instruments and appliances for measuring, testing and navigation

Import/Export: Export

Export sales: 95,0%

Quality certification: ISO 9001

Banks: UBS Ltd

CS Credit Suisse

Operational Figures

Coverage: Company

Figures: estimated

Financial year: 2015

Employees: 150

Sales: CHF 40-60 Mio

Activity

The company produces and sells electronic control systems that are mainly produced for spinning mills, weaving mills and other textile machines. The company operates worldwide with own representations in approximately 70 countries plus more than 30 service locations. Examples of their product lines are following:

Spinning Solutions:

YarnMaster ZENIT

YarnMaster 3N1

MillMaster EASY

MillMaster PRO

Weaving Solutions:

Short Weft Detector

Knot Detector

Thermocut

Real Estate

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

Company Register

Company No: 020.3.005.644-3

UID-No.: CHE108793764

Legal form: Company limited by shares

Registration: 22.12.1994

Legal status: active

Responsible Register: Handelsregister des Kantons Zürich

History: Date of Statutes: 21.12.2011

Date of Incorporation Statutes: 11.12.1994

Entry Deleted Name

22.12.1994 Gebrüder Loepfe AG

22.12.1994 Loepfe Brothers Ltd (Name translated)

22.12.1994 Loepfe Frères SA (Name translated)

Entry Deleted Legal domicile

22.12.1994 Wetzikon (ZH), Switzerland

29.02.1996 22.12.1994 Zug, Switzerland

Entry Deleted Address

22.12.1994 Kastellstrasse 10, 8623 Wetzikon/ZH, Switzerland/CH

Entry Deleted Capital

22.12.1994 Share Capital CHF 5,500,000, paidup CHF 5,500,000

Entry Deleted Capital Structure

22.12.1994 55,000 Registered shares of CHF 100.--

Official Administration

Title Name

President Lorenzo Cucchetto

Citizen: Italy

Residential address: Negrar, Italy

joint signature of two

Registered since: 03.02.2009

Chief Executive Maurizio Wermelinger

Citizen: Schenkon, Switzerland

Residential address: 8400 Winterthur/ZH, Switzerland

Born: 09.07.1952

joint signature of two

Registered since: 14.11.2007

Director Maurizio Secchi

Citizen: Italy

Residential address: Bergamo , Italy

joint signature of two

Registered since: 06.12.2012

Management

Title Name

Member with procuration Erich Heusser

Citizen: Bubikon, Switzerland

Residential address: Dürnten, Switzerland