MIRA INFORM REPORT

 

 

Report No. :

345689

Report Date :

17.10.2015

 

IDENTIFICATION DETAILS

 

Name :

SAURER GERMANY GMBH & CO. KG

 

 

Registered Office :

Leverkuser Str. 65, D 42897 Remscheid

 

 

Country :

Germany

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

27.11.2012

 

 

Legal Form :

Ltd partnership with priv. ltd. company as  general partner

 

 

Line of Business :
  • Manufacture of other general-purpose machinery
  • Manufacture of machinery for textile, apparel and leather prod
  • Wholesale of machinery for the textile industry and of sewing and knitting machines
  • Other activities of head offices

 

 

No. of Employee :

1,274

 

 

 

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)

Germany

A1

A1

 

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

 

 

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

 

 

Company name and addres

 

SAURER GERMANY GMBH & CO. KG

 

Company Status:          active

                                    Leverkuser Str. 65

                                    D 42897 Remscheid

                                    Telephone:02451/9051000

                                    Telefax:  02451/9051001

                                    Homepage: www.saurer.com

                                    E-mail:   peter.stahl@saurer.com

 

Trade name:          Saurer Schlafhorst, Saurer Allma

 

 

CONCLUSION

 

Business relations are permissible.

LEGAL FORM               Ltd partnership with priv. ltd. company as  general partner

 Date of foundation:      27.11.2012

 Registered on:             21.12.2012

 Register of

 companies:                  Local court 42103 Wuppertal

 under:                          HRA 23613

 

 

Total cap. Contribution

 

EUR         40,000,100.00

 

 

Limited partner

 

                      Saurer Netherlands Machinery Company B.V.

                      NL  Amsterdam

                      Legal form: Other legal form

                      Share:             EUR         40,000,100.00

 

 

General partner

 

                      Saurer Germany Management GmbH

                      Leverkuser Str. 65

                      D 42897 Remscheid

                      Legal form: Private limited company

                      Share capital:     EUR             25,000.00

                      Registered on: 21.12.2012

                      Reg. data: 42103 Wuppertal, HRB 24688

 

 

Shareholder

 

                      Saurer Netherlands Machinery Company B.V.

                      NL  Amsterdam

                      Legal form: Other legal form

                      Share:             EUR             25,000.00

 

 

Manager

 

                      Stephan Ringmayer

                      D 42579 Heiligenhaus

                      authorized to jointly represent the company

                      born: 13.07.1969

                      Marital status: single

 Manager:

                      Wolfgang Leupers

                      D 41061 Mönchengladbach

                      born: 07.04.1951

                      Profession: graduate engineer

 Manager:

                      Wolfram Helge Flatow

                      D 47877 Willich

                      authorized to jointly represent the company

                      born: 27.05.1955

                      Profession: Fully qualified merchant

 Manager:

                      Peter Stahl

                      D 58507 Lüdenscheid

                      having sole power of representation

                      born: 02.04.1967

                      Profession: Businessman

 Manager:

                      Jörg Spahlinger

                      D 97723 Oberthulba

                      born: 11.01.1959

 Manager:

                      Alexander Wenger

                      Heronger Str. 21

                      D 41334 Nettetal

                      authorized to jointly represent the company

                      born: 19.05.1969

 Manager:

                      Zhengping Zeng

                      RC  Shanghai

                      born: 25.07.1962

                      Nationality: Chinese

                      Marital status: unknown

 

 

Proxy

 

                      Patent-Assessor Arndt Georg Hamann

                      D 41239 Mönchengladbach

                      authorized to jointly represent the company

                      born: 08.05.1951

                      Profession: graduate engineer

 Proxy:

                      Christiane Worms

                      D 41238 Mönchengladbach

                      authorized to jointly represent the company

                      born: 09.04.1960

                      Profession: Businessman

 Proxy:

                      Jürgen Meyer

                      D 52062 Aachen

                      authorized to jointly represent the company

                      born: 16.09.1960

 Proxy:

                      Gertraud Schellscheidt

                      D 40212 Düsseldorf

                      authorized to jointly represent the company

                      born: 17.01.1963

                      Marital status: unknown

 Proxy:

                      Stephan Ringmayer

                      D 42579 Heiligenhaus

                      authorized to jointly represent the company

                      born: 13.07.1969

                      Marital status: single

 Proxy:

                      Wolfgang Leupers

                      D 41061 Mönchengladbach

                      authorized to jointly represent the company

                      born: 07.04.1951

                      Profession: graduate engineer

 Proxy:

                      Wolfram Helge Flatow

                      D 47877 Willich

                      authorized to jointly represent the company

                      born: 27.05.1955

                      Profession: Fully qualified merchant

 Proxy:

                      Andreas Gathen

                      Vorster Str. 11

                      D 47918 Tönisvorst

                      authorized to jointly represent the company

                      born: 13.06.1964

                      Marital status: married

 Proxy:

                      Gerd Pöhlmann

                      An der Alten Burg 19

                      D 47839 Krefeld

                      authorized to jointly represent the company

                      born: 11.10.1963

 Proxy:

                      Dr. Martin Folini

                      CH  Küsnacht

                      authorized to jointly represent the company

                      born: 12.08.1958

                      Nationality: Swiss

 Proxy:

                      Jan Röttgering

                      D 41844 Wegberg

                      authorized to jointly represent the company

                      born: 29.01.1966

                      Profession: graduate engineer

 Proxy:

                      Hans-Dieter Dyballa

                      D 52531 Übach-Palenberg

                      authorized to jointly represent the company

                      born: 10.01.1955

 Proxy:

                      Ralf Pascher-Roik

                      Teichstr. 9

                      D 52074 Aachen

                      authorized to jointly represent the company

                      born: 23.04.1959

 Proxy:

                      Ralph Knecht

                      Goethestr. 17a

                      D 41061 Mönchengladbach

                      authorized to jointly represent the company

                      born: 13.10.1969

 Proxy:

                      Andreas Riedel

                      D 41836 Hückelhoven

                      authorized to jointly represent the company

                      born: 01.04.1964

 Proxy:

                      Bert Schlömer

                      D 52525 Heinsberg

                      authorized to jointly represent the company

                      born: 29.03.1961

 Proxy:

                      Karl-Heinz Sandholzer

                      Obere Hauptstr. 16

                      D 87782 Unteregg

                      authorized to jointly represent the company

                      born: 12.10.1959 in Ronsberg

 Proxy:

                      Jürgen Meyer

                      D 52062 Aachen

                      authorized to jointly represent the company

                      born: 16.09.1960

 Proxy:

                      Jörg Spahlinger

                      D 97723 Oberthulba

                      authorized to jointly represent the company

                      born: 11.01.1959

 Proxy:

                      Dirk Schmitz

                      Blumenstr. 18

                      D 47918 Tönisvorst

                      authorized to jointly represent the company

                      born: 05.07.1972

 Proxy:

                      Peter Mann

                      D 73095 Albershausen

                      authorized to jointly represent the company

                      born: 06.03.1960

 Proxy:

                      Karl-Heinz Mack

                      D 73235 Weilheim

                      authorized to jointly represent the company

                      born: 26.05.1959

 Proxy:

                      Dipl.-Ing. Markus Wurster

                      D 41844 Wegberg

                      authorized to jointly represent the company

                      born: 04.02.1963

 Proxy:

                      Angelo Bonacci

                      D 47877 Willich

                      authorized to jointly represent the company

                      born: 02.01.1950

 Proxy:

                      Daniel Christian Lippuner

                      CH  Feusisberg

                      authorized to jointly represent the company

                      born: 19.07.1969

                      Nationality: Swiss

 Proxy:

                      Cem Yalcin

                      TR  Istanbul

                      authorized to jointly represent the company

                      born: 05.05.1962

                      Nationality: Turkish

 Proxy:

                      Jürgen Schnitzler

                      D 41747 Viersen

                      authorized to jointly represent the company

                      born: 31.08.1966

 Proxy:

                      Maximilian Preutenborbeck

                      D 41061 Mönchengladbach

                      authorized to jointly represent the company

                      born: 10.06.1957

 Proxy:

                      Michael Iding

                      D 47623 Kevelaer

                      authorized to jointly represent the company

                      born: 22.07.1961

 Proxy:

                      Alexander Wenger

                      Heronger Str. 21

                      D 41334 Nettetal

                      authorized to jointly represent the company

                      born: 19.05.1969

 Proxy:

                      Frank Schoenrath

                      D 44787 Bochum

                      authorized to jointly represent the company

                      born: 04.10.1967

 Proxy:

                      Thomas Arter

                      D 41366 Schwalmtal

                      authorized to jointly represent the company

                      born: 29.10.1969

 Proxy:

                      Zhengping Zeng

                      RC  Shanghai

                      authorized to jointly represent the company

                      born: 25.07.1962

                      Nationality: Chinese

                      Marital status: unknown

 Proxy:

                      Gertraud Schellscheidt

                      D 40212 Düsseldorf

                      authorized to jointly represent the company

                      born: 17.01.1963

                      Marital status: unknown

 Proxy:

                      Armin Deggendorfer

                      D 87435 Kempten

                      authorized to jointly represent the company

                      born: 21.03.1968

 Proxy:

                      Hans Guggemos

                      D 87466 Oy-Mittelberg

                      authorized to jointly represent the company

                      born: 08.04.1956

 

 

 COMPANY HISTORY

 

 21.12.2012 - 11.04.2013  Saurer Germany Machinery GmbH & Co. KG

                          Leverkuser Str. 65

                          D 42897 Remscheid

                          Ltd partnership with priv. ltd. company

                          as general partner

 

 

 BUSINESS ACTIVITIES

 

 Main industrial sector

 2829    Manufacture of other general-purpose machinery

2894    Manufacture of machinery for textile, apparel and leather production

4664    Wholesale of machinery for the textile industry and of sewing and knitting machines

70109   Other activities of head offices

 

 

BRANCHES AND FACTORIES

 

 Branch:

                      Saurer Germany GmbH & Co. KG

                      Weeserweg 60

                      D 47804 Krefeld

                      TEL.: 02151/717-01

                      FAX.: 02151/717-474

                      Reg. entry: 17.07.2013

 Branch:

                      Allma Volkmann Zweigniederlassung der Saurer

                      Germany GmbH & Co. KG

                      Leonhardstr. 19

                      D 87437 Kempten

                      TEL.: 0831/6880

                      FAX.: 0831/688320

                      Reg. entry: 11.07.2013

 Branch:

                      Saurer Germany GmbH & Co. KG

                      Hans-Zinser-Str. 1-3

                      D 73061 Ebersbach

                      TEL.: 07163/140

                      FAX.: 07163/14250

                      Reg. entry: 11.07.2013

 Branch:

                      Saurer Germany GmbH & Co. KG

                      Carlstr. 60

                      D 52531 Übach-Palenberg

                      Reg. entry: 11.07.2013

 

 

 PARTICIPATIONS

 

 Shareholder:

                      Saurer Components GmbH

                      Maria-Merian-Str. 8

                      D 70736 Fellbach

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR             51,400.00

                      Share:             EUR             51,400.00

                      Reg. data:  26.01.2007

                                  Local court 70190 Stuttgart

                                  HRB 722008

 

 

FINANCIAL INFORMATION

 

Payment experience:  within agreed terms

 

Negative information:We have no negative information at hand.

 

Balance sheet year:  2013

 

 

REAL ESTATE

 

Type of ownership:        Tenant

Address                        Leverkuser Str. 65

                                    D 42897 Remscheid

 

Real Estate of:              Saurer Germany Management GmbH

Type of ownership:        Tenant

Address                        Leverkuser Str. 65

                                    D 42897 Remscheid

 

Land register documents were not available.

 

 

BANKERS

 

 COMMERZBANK, 41012 MÖNCHENGLADBACH

 Sort. code: 31040015

 BIC: COBADEFFXXX

 DEUTSCHE BANK, 78404 KONSTANZ

 Sort. code: 69070032

 BIC: DEUTDE6F690

 

 

 FINANCIAL FIGURES

 

 Turnover:            2013               EUR        315,030,569.00

 Profit:              2013               EUR         11,066,421.00

 Equipment:                              EUR         12,988,429.00

 Ac/ts receivable:                       EUR         85,412,798.00

 Liabilities:                            EUR        214,897,476.00

 Employees:                                                  1,274

 

 

 BALANCE SHEETS

 

 Balance sheet ratios                 01.01.2013 - 31.12.2013

 Equity ratio [%]:                       14.50

 Liquidity ratio:                          0.45

 Return on total capital [%]:       3.62

 

 Balance sheet ratios                 27.11.2012 - 31.12.2012

 Liquidity ratio:                          1.00

 

 Equity ratio

 The equity ratio indicates the portion of the equity as compared

 to the total capital. The higher the equity ratio, the better the

 economic stability (solvency) and thus the financial autonomy of

 a company.

 

 Liquidity ratio

 The liquidity ratio shows the proportion between adjusted

 receivables and net liabilities. The higher the ratio, the lower

 the company's financial dependancy from external creditors.

 

 Return on total capital

 The return on total capital shows the efficiency and return on

 the total capital employed in the company. The higher the return

 on total capital, the more economically does the company work

 with the invested capital.

 

 

Fiancials

 

Type of balance sheet:   Company balance sheet

 

 Financial year:      01.01.2013 - 31.12.2013

 

 ASSETS                                  EUR        312,763,454.84

  Fixed assets                           EUR        155,994,233.44

   Intangible assets                     EUR         37,982,244.78

    Concessions, licences, rights        EUR         31,296,110.00

    Goodwill                             EUR          6,686,134.78

   Tangible assets                       EUR         48,897,825.66

    Land / similar rights                EUR         28,681,708.90

    Plant / machinery                    EUR          2,748,712.00

    Other tangible assets / fixtures and

    fittings                             EUR         12,988,428.54

    Advance payments made / construction

    in progress                          EUR          4,478,976.22

   Financial assets                      EUR         69,114,163.00

    Shares in participations /

    subsidiaries and the like            EUR         69,114,163.00

     Shares in related companies         EUR         69,114,163.00

  Current assets                         EUR        156,690,519.65

   Stocks                                EUR         45,547,255.11

    Raw materials, consumables and

    supplies                             EUR         50,959,726.66

    Finished goods / work in progress    EUR         16,500,999.96

    Advance payments made                EUR            798,854.39

    Minus received advance payments for

    orders / installments for stocks     EUR        -22,712,325.90

   Accounts receivable                   EUR         85,412,798.44

    Trade debtors                        EUR         59,154,423.15

    Amounts due from related companies   EUR            595,719.42

    Other debtors and assets             EUR         25,662,655.87

   Liquid means                          EUR         25,730,466.10

  Remaining other assets                 EUR             78,701.75

   Accruals (assets)                     EUR             78,701.75

 

 LIABILITIES                             EUR        312,763,454.84

  Shareholders' equity                   EUR         51,066,521.25

   Capital                               EUR         40,000,100.00

    Limited partner's capital / capital

    of partially liable partner (LP)     EUR         40,000,100.00

   Reserves                              EUR         11,066,421.25

  Provisions                             EUR         46,173,126.29

   Pension provisions and comparable

   provisions                            EUR         14,240,527.43

   Provisions for taxes                  EUR            202,880.65

   Other / unspecified provisions        EUR         31,729,718.21

  Liabilities                            EUR        214,897,475.54

   Other liabilities                     EUR        214,897,475.54

    Trade creditors (for IAS incl. bills

    of exchange)                         EUR         48,068,063.37

    Liabililties due to related companiesEUR        160,547,558.16

    Unspecified other liabilities        EUR          6,281,854.01

  Other liabilities                      EUR            626,331.76

   Deferrals (liabilities)               EUR            626,331.76

 

 PROFIT AND LOSS ACCOUNT (cost-summary method) according to Comm.

 Code (HGB)

  Sales                                  EUR        315,030,569.12

  Inventory change + own costs (+/-)     EUR         -6,571,602.88

   Inventory change (+/-)                EUR         -6,817,474.88

   Capitalised own costs                 EUR            245,872.00

  Other operating income                 EUR          6,462,868.12

  Cost of materials                      EUR        202,120,700.10

   Raw materials and supplies, purchased

   goods                                 EUR        198,263,232.64

   Purchased services                    EUR          3,857,467.46

  Gross result (+/-)                     EUR        112,801,134.26

  Staff expenses                         EUR         41,032,160.76

   Wages and salaries                    EUR         35,714,730.99

   Social security contributions and

   expenses for pension plans and

   benefits                              EUR          5,317,429.77

  Total depreciation                     EUR          7,065,177.47

   Depreciation on tangible / intangible

   asssets (incl. start-up and exp. of

   bus.                                  EUR          7,065,177.47

  Other operating expenses               EUR         49,282,467.70

  Operating result from continuing

  operations                             EUR         15,421,328.33

  Interest result (+/-)                  EUR         -1,949,699.81

   Interest and similar income           EUR          1,037,123.94

   Interest and similar expenses         EUR          2,986,823.75

  Financial result (+/-)                 EUR         -1,949,699.81

  Result from ordinary operations (+/-)  EUR         13,471,628.52

  Income tax / refund of income tax (+/-)EUR         -2,358,063.62

  Other taxes / refund of taxes          EUR            -47,143.65

  Tax (+/-)                              EUR         -2,405,207.27

  Annual surplus / annual deficit        EUR         11,066,421.25

 

 Type of balance

 sheet:               Company balance sheet

 

 Financial year:      27.11.2012 - 31.12.2012

 

 ASSETS                                  EUR                100.00

  Outstanding capital                    EUR                100.00

   Outstanding contributions             EUR                100.00

 

 LIABILITIES                             EUR                100.00

  Shareholders' equity                   EUR                100.00

   Capital                               EUR                100.00

    Limited partner's capital / capital

    of partially liable partner (LP)     EUR                100.00

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.64.97

UK Pound

1

Rs.100.55

Euro

1

Rs.73.99

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

TRU

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.