|
Report No. : |
343144 |
|
Report Date : |
01.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
USTER TECHNOLOGIES AG |
|
|
|
|
Registered Office : |
Sonnenbergstrasse 10, 8610 Uster/ZH |
|
|
|
|
Country : |
Switzerland |
|
|
|
|
Financials (as on) : |
31.03.2015 |
|
|
|
|
Year of Establishment : |
1949 |
|
|
|
|
Com. Reg. No.: |
170.3.030.026-8 |
|
|
|
|
Legal Form : |
Company limited by shares |
|
|
|
|
Line of Business : |
Manufacture of Machinery for Textile, Apparel and Leather Production. |
|
|
|
|
No. of Employees : |
550 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
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 |
A1 |
A1 |
|
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 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 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 continues 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 of 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 during 2011-13. In recent
years, Switzerland has responded to increasing pressure from neighboring
countries and trading partners, including the EU, the US, and international
institutions to reform its banking secrecy laws. In response to that
international pressure, the Swiss government has agreed 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, while
openly considering the possibility of imposing taxes on bank deposits held by
foreigners.
|
Source
: CIA |
USTER TECHNOLOGIES AG
Operating address:
Sonnenbergstrasse
10
8610 Uster/ZH
Switzerland/CH
Telephone: 043
3663636
Fax: 043
3663637
Web
site: http://www.uster.com
E-mail: info@uster.com
WIN
Worldbox No.: CH0000046135
VAT-No.: CHE-113.246.640 MWST
UID-No.: CHE113246640
Established: 1949
Line
of Business: Machinery, Financial
services
Industry
Division: Manufacturing, Services
Industry-code (NACE): 2894 Manufacture of machinery for textile,
apparel and leather production
6420 Activities of holding companies
Import/Export: Export
Export
sales: 99,4%
Banks: unknown
Quoted: Yes
Formerly:
Market: SWISS EXCHANGE (Main)
Market
Identifier Code: XSWX
ISIN: CH0034331535
NSIN: 3433153
Ticker: USTN
First
trading day: 01.10.2007
Last
trading day: 06.11.2012
Coverage: Group
Figures: approximately
Financial
year: 2015
Employees: 550
Sales: CHF 220,000,000.--
The company is the world leader in textile
electronics and provides systems to monitor and control the quality throughout
the textile industry.
Real
Estate: It is understood
that the company owns certain property.
Company
No: 170.3.030.026-8
UID-No.: CHE113246640
Legal
form: Company limited by
shares
Registration: 06.11.2006
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Zürich (since 19.06.2007)
History: Date of Statutes:
29.05.2012
Date of
Statutes: 29.05.2012
Date of
Statutes: 29.03.2011
Date of Statutes:
30.03.2010
Date of
Statutes: 02.11.2009
Date of
Statutes: 31.03.2009
Date of
Statutes: 18.03.2008
Date of
Statutes: 18.10.2007
Date of
Statutes: 04.10.2007
Date of
Statutes: 18.06.2007
Date of
Incorporation Statutes: 03.11.2006
Entry Deleted Name
19.06.2007 Uster
Technologies AG
19.06.2007 Uster
Technologies SA (Name translated)
19.06.2007 Uster
Technologies Ltd (Name translated)
06.11.2006 19.06.2007 Hercules Holding AG
06.11.2006 19.06.2007 Hercules Holding SA (Name translated)
06.11.2006 19.06.2007 Hercules Holding Ltd (Name translated)
Entry Deleted Legal domicile
19.06.2007 Uster,
Switzerland
06.11.2006 19.06.2007 Zug, Switzerland
Entry Deleted Address
01.12.2008 Sonnenbergstrasse
10, 8610 Uster/ZH, Switzerland/CH
19.06.2007 01.12.2008 Wilstrasse 11, 8610 Uster/ZH, Switzerland/CH
Entry Deleted Capital
07.06.2012 Share
Capital CHF 82,301,700, paidup CHF 82,301,700
02.11.2009 07.06.2012 Share Capital CHF 79,524,000, paidup CHF
79,524,000
10.06.2008 02.11.2009 Share Capital CHF 61,664,000, paidup CHF
61,664,000
Entry Deleted Capital Structure
07.06.2012 8,755,500
Registered shares of CHF 9.40
02.11.2009 07.06.2012 8,460,000 Registered shares of CHF 9.40
10.06.2008 02.11.2009 6,560,000 Registered shares of CHF 9.40
Title Name
President Philip
Mosimann
Citizen:
Lauperswil, Switzerland
Residential
address: St. Gallen/SG, Switzerland
Born:
16.05.1954
joint
signature of two
Registered
since: 22.06.2012
Director Dr.
Geoffrey Scott
Citizen:
United Kingdom
Residential
address: Erlenbach/ZH, Switzerland
Born:
1954
joint
signature of two
Director Susumu
Toyoda
Citizen:
Japan
Residential
address: Nagoya, Japan
joint
signature of two
Registered
since: 09.08.2013
Title Name
Member
with signing authority Harold R. Hoke
Citizen:
United States of America
Residential
address: 8610 Uster/ZH, Switzerland
Born:
1954
joint
signature of two
Member
with signing authority Peter Huber
Citizen:
Buchs ZH, Switzerland
Residential
address: 8623 Wetzikon/ZH, Switzerland
Born:
23.12.1966
joint
signature of two
Registered
since: 05.03.2012
Member
with signing authority Walter Richard
Kiechel
Citizen:
Zürich, Switzerland
Residential
address: Laufen-Uhwiesen, Switzerland
joint
signature of two
Registered
since: 28.07.2014
Member
with signing authority Walter Richard
Kiechl
Citizen:
Zürich, Switzerland
Residential
address: Laufen-Uhwiesen, Switzerland
joint
signature of two
Registered
since: 30.05.2014
Member
with signing authority Renato Murk
Citizen:
Müstair, Switzerland
Residential
address: Egg, Switzerland
Born:
1956
joint
signature of two
Member
with signing authority Thomas Nasiou
Citizen:
Greece
Residential
address: 8610 Uster/ZH, Switzerland
Born:
12.08.1970
joint
signature of two
Registered
since: 05.03.2012
Member
with signing authority Rafael Storz
Citizen:
Germany
Residential
address: 8280 Kreuzlingen/TG, Switzerland
Born:
1967
joint
signature of two
Member
with procuration David Brütsch
Citizen:
Zürich, Switzerland
Residential
address: Pfäffikon/ZH, Switzerland
joint
power of attorney of two
Registered
since: 30.05.2014
Title Name
Auditor PricewaterhouseCoopers
AG
Residential
address: Zürich, Switzerland
Id:
CH-020.3.020.876-5
Registered
since: 19.06.2013
Title Name
Chief
Executive Officer Dr.
Geoffrey Scott
Chief
Financial Officer Peter
Huber
Chief
Sales Officer Harold
R. Hoke
Chief
Development Officer Rafael Storz
Chief
Business Segment Officer Thomas Nasiou
Chief
Logistics Officer Renato
Murk
Name: TOYOTA INDUSTRIES
CORPORATION
City/Country: AICHI, Japan/JP
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.03.2015 31.03.2014 31.03.2013 31.03.2012 31.03.2011
Number of months: 12 12 12 12 12
Currency: mil.
JPY mil. JPY mil. JPY mil. JPY mil.
JPY
Statement norm: IAS
Balance Sheet
Intangible fixed
assets 192,702.0 190,882.0 168,049.0 106,777.0 79,340.0
Land and buildings 347,284.0 317,520.0 301,097.0
Other tangible
fixed assets 360,248.0 308,594.0 248,717.0
Tangible fixed
assets 707,532.0 626,114.0 549,814.0 481,053.0 497,278.0
Financial fixed
assets 2,729,480.0 1,926,353.0 1,598,437.0 1,177,592.0 1,123,307.0
other fixed assets 76,280.0 183,601.0 146,961.0 122,206.0 110,634.0
Fixed assets 3,705,994.0 2,926,950.0 2,463,261.0 1,887,628.0 1,810,559.0
Stocks 194,836.0 170,241.0 142,520.0 116,447.0 104,263.0
Trade accounts
receivable 265,504.0 242,844.0 212,595.0
Cash & Cash
Equivalents 247,273.0 226,383.0 230,348.0 274,710.0 198,654.0
Securities 34,085.0 50,122.0 41,964.0
other trade
accounts 203,204.0 182,470.0 153,090.0
Other current
assets 484,562.0 458,975.0 425,402.0
Current assets 944,902.0 872,060.0 780,517.0 769,356.0 670,893.0
Total assets 4,650,896.0 3,799,010.0 3,243,778.0 2,656,984.0 2,481,452.0
Capital 186,054.0 186,116.0 186,360.0
Other shareholders
funds 2,170,237.0 1,583,682.0 1,288,634.0
Total shareholders
equity 2,356,291.0 1,769,798.0 1,474,994.0 1,143,790.0 1,030,350.0
Minority interests 69,636.0 59,528.0 49,939.0 54,052.0 45,590.0
long term debt
(financial debts) 724,337.0 657,679.0 551,785.0 436,421.0 442,251.0
Provisions 48,973.0 46,925.0
Other non current
liabilities 847,438.0 648,651.0 507,965.0 394,221.0 404,392.0
Non current
liabilities 1,571,775.0 1,306,330.0 1,059,750.0 879,615.0 893,568.0
short term debt
(financial debts) 192,454.0 217,365.0 263,494.0
Trade accounts
payable 235,061.0 226,042.0 197,769.0
Accruals 13,686.0 25,962.0 15,958.0
other accounts
payable 211,993.0 193,985.0 181,874.0
other current
liabilities 225,679.0 219,947.0 197,832.0
Current
liabilities 653,194.0 663,354.0 659,095.0 579,527.0 511,944.0
Shareh. equity,
min. int. & liabilities 4,650,896.0 3,799,010.0 3,243,778.0 2,656,984.0 2,481,452.0
Profit and loss account
Net sales 2,166,661.0 2,007,856.0 1,615,244.0 1,543,352.0 1,479,839.0
Operating revenue 2,166,661.0 2,007,856.0 1,615,244.0
Cost of goods sold 1,765,861.0 1,651,573.0 1,347,238.0
Gross profit 400,800.0 356,283.0 268,006.0
Other operating
expenses 283,225.0 248,591.0 190,909.0
Operating result 117,575.0 107,692.0 77,097.0 67,963.0 53,498.0
Interest revenues 12,357.0 11,205.0 9,071.0
other financial
revenues 574,310.0 276,329.0 323,980.0
Financial income 586,667.0 287,534.0 333,051.0
Interest expenses 15,876.0 16,023.0 14,508.0
other financial
expenses 9,587.0 14,063.0 12,796.0
Financial expenses 25,463.0 30,086.0 27,304.0
Financial result 561,204.0 257,448.0 305,747.0
Result before
extraordinary items 678,779.0 365,140.0 382,844.0
Extraordinary
expenses 6,710.0
Extraordinary
Result 0.0 -6,710.0
Result before
taxes 678,779.0 365,140.0 376,134.0
Taxes 49,153.0 43,934.0 26,851.0
Result before
minority interests 629,626.0 321,206.0 349,283.0
minority interests 9,258.0 5,447.0 3,295.0
Result for the
financial year 620,368.0 315,759.0 345,988.0 58,594.0 47,205.0
Cash flow
Depreciation 13,968.0 11,125.0 8,076.0
Cash flow 643,594.0 332,331.0 357,359.0
Cash flow from
operating activities 182,191.0 155,059.0 151,299.0
Investments in
tangible fixed assets 169,842.0 131,672.0 112,430.0
Cash flow from
investing activities -160,769.0 -118,483.0 -274,210.0
Cash flow from
financing activities -8,918.0 6,183.0 7,050.0
Others 9,796.0 4,288.0 -1,591.0
Change in
liquidity 22,300.0 47,047.0 -117,452.0
Liquidity at
beginning of the year 226,406.0 179,359.0 296,811.0
Liquidity at end
of the year 248,706.0 226,406.0 179,359.0
Notes
Cost of employees 97,038.0 85,831.0 74,452.0
Research and
Development 41,930.0 39,363.0 32,203.0
Added value 805,661.0 478,119.0 473,170.0
Working Capital 225,279.0 187,043.0 157,346.0
Net Current Assets 291,708.0 208,706.0 121,422.0 189,829.0 158,949.0
Gross cost land
and buildings 597,773.0 556,217.0 527,534.0
Gross cost other tangible
fixed assets 1,651,958.0 1,126,091.0 1,000,059.0
Gross cost total 2,249,731.0 1,682,308.0 1,527,593.0
No.
of Owner/-s: 1
Owner: The company is foreign
owned.
Class: 100%
Type: direct, Group-Level 1
Name: TOYOTA INDUSTRIES
CORPORATION
City/Country: AICHI, Japan/JP
Interest: 100,00% voting right,
100,00% capital interest (since 30.10.2009)
Name: Cascade Corporation
City/Country: Fairview/Oregon, United States
of America/US
Name: Toyota Textile
Machinery Europe AG
City/Country: Uster/ZH, Switzerland/CH
Class: 100%
Name: Uster Technologies de
Mexico SA de CV
City/Country: Tlalnepantla, Mexico/MX
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Name: Uster Technologies
GmbH
City/Country: Grünwald/Bayern, Germany/DE
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Name: Uster Technologies
Holding (Thailand) Ltd.
City/Country: Bangkok, Thailand/TH
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Name: Uster Technologies Inc
City/Country: Knoxville/Tennessie, United
States of America/US
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Name: Uster Technologies
(India) Marketing Private Limited
City/Country: BANGALORE/Karnataka, India/IN
Interest: 100,00% voting right,
100,00% capital interest (since 25.08.2010)
Class: 100%
Name: USTER TECHNOLOGIES
(INDIA) PRIVATE LIMITED
City/Country: Coimbatore/Tamil Nadu, India/IN
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Name: Uster Technologies KK
City/Country: Osaka-fu, Japan/JP
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Name: Uster Technologies
(Shanghai) Trading Co Ltd
City/Country: Shanghai, China/CN
Interest: 100,00% voting right,
100,00% capital interest (since 2010)
Class: 100%
Name: Uster Technologies
Sulamericana Ltda
City/Country: Alphaville-Barueri/Sao Paulo,
Brazil/BR
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Name: Uster Technologies
(Suzhou) Co Ltd
City/Country: Suzhou, China/CN
Interest: 100,00% voting right,
100,00% capital interest (since 2005)
Class: 100%
Name: Uster Technologies
(Thailand) Ltd
City/Country: Bangkok, Thailand/TH
Interest: 100,00% voting right,
100,00% capital interest
Class: 100%
Name: Uster Teknoloji
Ticaret AS
City/Country: Merter/Istanbul, Turkey/TR
Interest: 100,00% voting right,
100,00% capital interest (since 2005)
After delisting from stock exchange, the
company does not longer disclose full financial data. Last published financials
are per 30.12.2011.
Control date Year No. Amount CHF Status
28.11.2013 2013 0 Legal
actions
31.12.2012 2012 0 Legal
actions
31.12.2011 2011 0 Legal
actions
31.12.2010 2010 0 Legal
actions
31.12.2009 2009 0 Legal
actions
31.12.2008 2008 0 Legal
actions
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
WorldCompliance 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.
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 in order.
Payment
experiences: There are no objections
regarding the payment of financial obligations.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.82 |
|
|
1 |
Rs.101.26 |
|
Euro |
1 |
Rs.72.36 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
|
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 |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
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 |
|
|
-- |
NB |
New Business |
-- |
|
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.