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Report No. : |
345429 |
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Report Date : |
26.10.2015 |
IDENTIFICATION DETAILS
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Name : |
SALZGITTER
MANNESMANN INTERNATIONAL GESELLSCHAFT
MITBESCHRÄNKTER HAFTUNG |
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Registered Office : |
Schwannstr. 12, D 40476 Düsseldorf |
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Country : |
Germany |
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Date of Incorporation : |
1980 |
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Com. Reg. No.: |
HRB 30081 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
·
Wholesale
of iron ores, iron, steel and iron and steel semi-finished goods ·
Non-specialized
wholesale of raw materials and half-finished and finished goods ·
Other
business support service activities |
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No. of Employees : |
129 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
SALZGITTER MANNESMANN INTERNATIONAL GESELLSCHAFT MITBESCHRÄNKTER
HAFTUNG
Company Status: active
Schwannstr. 12
D 40476 Düsseldorf
Telephone:0211/4300-1
Telefax:
0211/4300-90
Homepage: www.salzgitter-mannesmann-international.de
E-mail:
contact@szmh-group.com
VAT
no.: DE811545796
Business relations are permissible.
LEGAL FORM Private limited company
Date of foundation: 1980
Shareholders'
agreement: 24.09.1980
Registered on: 30.09.1993
Commercial Register: Local court 40227 Düsseldorf
under: HRB 30081
Share capital: EUR 10,300,000.00
Shareholder:
Salzgitter Mannesmann
Handel Gesellschaft
mit beschränkter Haftung
Schwannstr. 12
D 40476 Düsseldorf
Post Box:
30 09 43, D 40409
Düsseldorf
Legal form: Private
limited company
Share capital: EUR
23,600,000.00
Share: EUR 10,300,000.00
Registered on: 02.11.1949
Reg. data: 40227
Düsseldorf, HRB 8372
Control and profit
transfer agreement
Manager:
Heinz Groschke
D 40489 Düsseldorf
authorized to jointly
represent the company
born: 03.08.1948
Profession: manager
Manager:
Dr. Gerd Schöler
Stauseebogen 109
D 45259 Essen
born: 09.01.1953
Profession: Businessman
Marital status: married
Proxy:
Jörgen Franz Werner
Hüster
D 45127 Essen
authorized to jointly
represent the company
born: 11.09.1962
Proxy:
Burkhardt Rossow
D 40210 Düsseldorf
authorized to jointly
represent the company
born: 03.12.1952
Proxy:
Jörg Winfried
D 41460 Neuss
authorized to jointly
represent the company
born: 03.09.1959
Profession: Businessman
Proxy:
Dr. Dietmar Grotmann
D 31241 Ilsede
authorized to jointly
represent the company
born: 01.04.1961
Proxy:
Ulf Christian Hüttmann
D 50667 Köln
authorized to jointly
represent the company
born: 02.04.1970
Proxy:
Steffen Kraass
D 40476 Düsseldorf
authorized to jointly
represent the company
born: 30.04.1967
Proxy:
Thomas Roßbach
D 50667 Köln
authorized to jointly
represent the company
born: 05.03.1955
Proxy:
Albrecht Theobald
D 40210 Düsseldorf
authorized to jointly
represent the company
born: 27.09.1951
Proxy:
Stefan Müller
D 42549 Velbert
authorized to jointly
represent the company
born: 16.01.1961
Proxy:
Thorsten Feldmann
D 47441 Moers
authorized to jointly
represent the company
born: 21.02.1967
Proxy:
Patricia Schmied
D 40476 Düsseldorf
authorized to jointly
represent the company
born: 16.04.1970
Proxy:
Stephan Puschwadt
D 40476 Düsseldorf
authorized to jointly
represent the company
born: 18.04.1971
Proxy:
Frank Steffens
D 55437 Ockenheim
authorized to jointly
represent the company
born: 07.11.1963
Proxy:
Robert Lenzen
D 40476 Düsseldorf
authorized to jointly
represent the company
born: 25.11.1960
Proxy:
Phillip Meiser
D 40476 Düsseldorf
authorized to jointly
represent the company
born: 02.11.1970
Further functions/participations of Heinz
Groschke (Manager)
Manager:
Salzgitter Mannesmann
Handel Gesellschaft
mit beschränkter Haftung
Schwannstr. 12
D 40476 Düsseldorf
Post Box:
30 09 43, D 40409
Düsseldorf
Legal form: Private
limited company
Share capital: EUR
23,600,000.00
Registered
on: 02.11.1949
Reg. data: 40227 Düsseldorf, HRB 8372
Member of the Supervisory Board:
Salzgitter Flachstahl
GmbH
Eisenhüttenstr. 99
D 38239 Salzgitter
Legal form: Private
limited company
Share capital: EUR
51,000,000.00
Registered
on: 18.12.2000
Reg. data: 38100 Braunschweig, HRB 6609
Further functions/participations of Dr. Gerd
Schöler (Manager)
Manager:
Salzgitter Mannesmann
Handel Gesellschaft
mit beschränkter Haftung
Schwannstr. 12
D 40476 Düsseldorf
Post Box:
30 09 43, D 40409
Düsseldorf
Legal form: Private limited
company
Share capital: EUR
23,600,000.00
Registered
on: 02.11.1949
Reg. data: 40227 Düsseldorf, HRB 8372
Member of the Supervisory Board:
Salzgitter Mannesmann
Precision GmbH
Wiesenstr. 36
D 45473 Mülheim
Legal form: Private
limited company
Share capital: EUR
10,001,000.00
Registered
on: 29.04.2008
Reg. data: 47051 Duisburg, HRB 20198
24.09.1980 - 30.09.1993 Preussag International Gesellschaft mit
beschränkter Haftung.
D 45657
Recklinghausen
Private limited
company
30.09.1993 - 28.04.1998 Preussag International Gesellschaft mit
beschränkter Haftung
Schwannstr. 12
D 40476 Düsseldorf
Private limited
company
28.04.1998 - 22.12.2004 Salzgitter International Gesellschaft
mit beschränkter
Haftung
Schwannstr. 12
D 40476 Düsseldorf
Private limited
company
Main industrial sector
46721
Wholesale of iron ores, iron, steel and iron and steel semi-finished
goods
46902
Non-specialized wholesale of raw materials and half-finished and
finished goods
8299
Other business support service activities n. e. c.
Payment experience: in top condition
Negative information:We have no negative
information at hand.
Type of ownership: Tenant
Address Schwannstr. 12
D 40476 Düsseldorf
Land register documents were not available.
COMMERZBANK, 40002 DÜSSELDORF
Sort. code: 30040000
BIC: COBADEDDXXX
DEUTSCHE
BANK, 40189 DÜSSELDORF
Sort. code: 30070010
BIC: DEUTDEDDXXX
Financial year: 01.01. - 31.12.
Turnover: 2013 EUR 2,029,000,000.00
2014 EUR 1,785,000,000.00
further business figures:
Share capital: EUR 10,300,000.00
Ac/ts receivable: EUR 506,666,000.00
Liabilities: EUR 418,597,000.00
Employees: 129
Control and profit transfer agreement to:
Salzgitter Mannesmann
Handel Gesellschaft
mit beschränkter Haftung
Schwannstr. 12
D 40476 Düsseldorf
Post Box:
30 09 43, D 40409
Düsseldorf
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.88 |
|
|
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.72.06 |
INFORMATION DETAILS
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Analysis Done by
: |
KIN |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.