MIRA INFORM REPORT

Report No. :	344410
Report Date :	10.10.2015

IDENTIFICATION DETAILS

Name :	SPINDELFABRIK SÜSSEN GMBH

Registered Office :	Donzdorfer Str. 4, D 73079 Süßen

Country :	Germany

Financials (as on) :	31.12.2013

Year of Establishment :	1920

Com. Reg. No.:	HRB 540114

Legal Form :	Private Limited Company

Line of Business :	Manufacture of Machinery For Textile, Apparel and Leather Production

No. of Employees :	228

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)

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

Company Name & address

SPINDELFABRIK SÜSSEN GMBH

Company Status: active

Donzdorfer Str. 4

D 73079 Süßen

Telephone:07162/15-0

Telefax: 07162/15-367

Homepage: www.suessen.com

E-mail: mail@suessen.com

VAT no.: DE145457987

CONCLUSION

Business relations are permissible.

LEGAL FORM Private limited company

Date of foundation: 1920

Shareholders'

agreement: 07.12.1920

Registered on: 15.03.1921

Commercial Register: Local court 89073 Ulm

under: HRB 540114

Share capital

EUR 5,050,100.00

Shareholder:

Rieter Deutschland GmbH & Co. OHG

Friedrich-Ebert-Str. 84

D 85055 Ingolstadt

Legal form: General partnership with private

limited company as partner

Share: EUR 5,050,100.00

Registered on: 28.12.1990

Reg. data: 85049 Ingolstadt, HRA 940

Manager:

Peter Wilhelm Stahlecker

D 73054 Eislingen

born: 23.06.1955

Profession: Engineer

Marital status: married

Manager:

Roland Eberhardt

Forchenweg 2

D 71272 Renningen

having sole power of representation

born: 14.09.1962

Proxy:

Nanette Haubensak

Volkmarstr. 11

CH 8006 Zürich