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Report No. : |
347071 |
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Report Date : |
27.10.2015 |
IDENTIFICATION DETAILS
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Name : |
SOLLICH KG |
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Registered Office : |
Siemensstr.
17-23, D 32105 Bad Salzuflen, Post Box: 16 29, D 32102 Bad Salzuflen |
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Country : |
Germany |
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Date of Incorporation : |
1920 |
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Com. Reg. No.: |
HRA 158 |
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Legal Form : |
Limited Partnership |
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Line of Business : |
· Manufacture of machinery for food, beverage and tobacco processing · Wholesale of other machinery, equipment and supplies |
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No. of Employees : |
360 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
No Complaints |
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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 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
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 |
In absence of financials, no credit limit could be recommended.
SOLLICH KG
Company Status: active
Siemensstr. 17-23
D 32105 Bad Salzuflen
Post Box:
16 29, D 32102 Bad Salzuflen
Telephone:05222/950-0
Telefax:
05222/950-300
Homepage:
www.sollich.com
E-mail:
info@sollich.com
VAT
no.: DE124617339
Business relations are permissible.
LEGAL FORM Limited partnership
Date of foundation: 1920
Registered on: 24.03.1950
Register of
companies: Local court 32657 Lemgo
under: HRA 158
Total cap. contribution: EUR 53,174.36
Limited partner:
Nicolas Sollich
Albernberg 30
D 32689 Kalletal
born: 30.06.1993
Share: EUR 26,587.18
Limited partner:
Carla-Louisa Sollich
Albernberg 30
D 32689 Kalletal
born: 21.12.1995
Share: EUR 26,587.18
General
partner:
Thomas Sollich
Albernberg 30
D 32689 Kalletal
born: 06.01.1963
Profession: graduate
engineer
Proxy:
Ralf Schäffer
D 32545 Bad Oeynhausen
having sole power of
representation
born: 30.08.1959
Proxy:
Michael Friedrich
D 32105 Bad Salzuflen
having sole power of representation
born: 28.08.1976
Further functions/participations of Thomas
Sollich (General
partner)
Proprietor:
Helmut Sollich
Grundstücksverwaltung
Dornbergsweg 32
D 38855 Wernigerode
Legal form: Sole
proprietorship
Registered
on: 03.11.1993
Reg. data: 39576 Stendal, HRA 20907
Proprietor:
Thomas Sollich
Siemensstr. 17-23
D 32105 Bad Salzuflen
Legal form: Unregistered
commercial
enterprise
Manager:
Sollich GmbH
Siemensstr. 17-23
D 32105 Bad Salzuflen
Legal form: Private
limited company
Share capital: EUR 25,564.59
Registered
on: 28.12.1979
Reg. data: 32657 Lemgo, HRB 501
24.03.1950 - 15.12.1999 Sollich GmbH & Co. Kommanditgesellschaft
Siemensstr. 17-23
D 32105 Bad Salzuflen
Ltd partnership with
priv. ltd. company
as general partner
Main industrial sector
28930
Manufacture of machinery for food, beverage and tobacco processing
Secondary industrial sector
4669
Wholesale of other machinery, equipment and supplies
Shareholder:
CHOCOTECH GmbH
Dornbergsweg 32
D 38855 Wernigerode
Legal form: Private
limited company
Company Status: active
Share capital: EUR 360,000.00
Share: EUR 360,000.00
Reg. data: 06.12.1991
Local court
39576 Stendal
HRB 101621
Payment experience: in top condition
Negative information:We have no negative
information at hand.
Type of ownership: Tenant
Address Siemensstr. 17-23
D 32105 Bad Salzuflen
Real Estate of: Thomas Sollich
Type of ownership: proprietor
Share: 100.00 %
Address Siemensstr. 17-23
D 32105 Bad Salzuflen
Real Estate of: Thomas Sollich
Type of ownership: proprietor
Share: 100.00 %
Address Albernberg 30
D 32689 Kalletal
Land register documents were not available.
SPARKASSE LEMGO, 32102 BAD SALZUFLEN
Sort. code: 48250110
BIC: WELADED1LEM
COMMERZBANK, 32631 LEMGO
Sort. code: 47640051
BIC: COBADEFFXXX
DEUTSCHE BANK, 33501 BIELEFELD
Sort. code: 48070020
BIC: DEUTDE3BXXX
Financial year: 01.01. - 31.12.
Turnover: 2013 EUR 100,000,000.00
2014 EUR 110,000,000.00
Expected turnover: EUR 100,000,000.00
further business figures:
Equipment: EUR 3,300,000.00
Employees:
360
-
Trainees:
25
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.96 |
|
|
1 |
Rs.99.55 |
|
Euro |
1 |
Rs.71.64 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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 |
|
|
<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.