MIRA INFORM REPORT

Report No. :	344594
Report Date :	16.10.2015

IDENTIFICATION DETAILS

Name :	MTU FRIEDRICHSHAFEN GMBH

Registered Office :	Maybachplatz 1, D 88045 Friedrichshafen

Country :	Germany

Year of Establishment :	1909

Legal Form :	Private Limited Company

Line of Business :	Manufacture of engines and turbines (except aircraft, vehicle and cycle engines) · Manufacture of motor vehicles and engines Wholesale trade in motor vehicle parts and accessories · Wholesale of other machinery

No. of Employee :	339

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 5.2% 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. The German economy suffers from low levels of investment, and a government plan to invest 15 billion euros 2016-18, largely in infrastructure, is intended to spur needed private investment. 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 accounted for 27.8% of gross electricity consumption in 2014, 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. Extremely low inflation, caused largely by low global energy prices and a weak euro, are expected to boost German GDP growth in 2015.

Source : CIA

Your inquiry: MTU FRIEDRICHSHAFEN GMBH, Leutholdstr. 1-25, D 88045 Friedrichshafen

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

Company name and address

MTU FRIEDRICHSHAFEN GMBH

Company Status: active

Maybachplatz 1

D 88045 Friedrichshafen

Telephone:

Telefax: 07541/9050000

Homepage: www.rrpowersystems.com

E-mail: jasmina.kujawski@rrpowersystems.com

VAT no.: DE811121844

Tax ID number: 61021/12009

CONCLUSION

Business relations are permissible.

LEGAL FORM Private limited company

Date of foundation: 1909

Shareholders'

agreement: 23.03.1909

Registered on: 14.02.1911

Commercial Register: Local court 89073 Ulm

under: HRB 630227

Share capital

EUR 51,130,000.00

Shareholder

Rolls-Royce Power Systems AG

Maybachplatz 1

D 88045 Friedrichshafen

Legal form: Public limited company

Share capital: EUR 131,380,000.00

Share: EUR 51,130,000.00

Registered on: 30.05.2007

Reg. data: 89073 Ulm, HRB 721056

Control and profit transfer agreement

Manager

Marcus Antonius Wassenberg

D 22297 Hamburg

born: 21.11.1966 in Grevenbroich

Profession: Fully qualified Economist

Marital status: unknown

Manager:

Dr. Ing. Ulrich Dohle

D 88045 Friedrichshafen

born: 13.10.1953

Proxy

Christos Ramnialis

D 31134 Hildesheim