MIRA INFORM REPORT

 

 

Report No. :

347083

Report Date :

29.10.2015

 

IDENTIFICATION DETAILS

 

Name :

WITTENSTEIN ALPHA GMBH

 

 

Registered Office :

Walter-Wittenstein-Str. 1, D 97999 Igersheim

 

 

Country :

Germany

 

 

Date of Incorporation :

27.09.1984

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :
  • Manufacture of electric motors, generators and  transformators
  • Engineering activities in the field of technical overall  planning
  • Manufacture of bearings, gears, gearing and driving  elements
  • Other research and experimental development on natural sciences and engineering.

 

 

No. of Employee :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

800,000 EUR

 

 

 

 

 

 

Status :

Moderate

 

 

 

 

 

 

Payment Behaviour :

Unknown

 

 

 

 

 

 

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

 

 

Company name and address

 

 WITTENSTEIN ALPHA GMBH

 

 Company Status:         active

                                    Walter-Wittenstein-Str. 1

                                    D 97999 Igersheim

                                    Telephone:07931/4930

                                    Telefax:  07931/493200

                                    Homepage: www.wittenstein-alpha.de

                                    E-mail:   info-alpha@wittenstein.de

 

 VAT no.:                      DE144753615

 

 

 CONCLUSION

 

 Business relations are permissible.

 LEGAL FORM              Private limited company

 Date of foundation:      1984

 Shareholders'

 agreement:                   24.05.1984

 Registered on:             27.09.1984

 Commercial Register:   Local court 89073 Ulm

 under:                          HRB 680317

 

 

 Share capital

 

 EUR          1,500,000.00

 

 

 Shareholder

 

                      WITTENSTEIN AG

                      Walter-Wittenstein-Str. 1

                      D 97999 Igersheim

                      Post Box:

                      11 03, D 97997 Igersheim

                      Legal form:         Public limited company

                      Share capital:     EUR         50,000,000.00

                      Share:                 EUR          1,500,000.00

                      Registered on:    19.12.2001

                      Reg. data:           89073 Ulm, HRB 680782

                      Control and profit transfer agreement

 

 

Manager

                      Dr. Bernd Thomas Schimpf

                      D 71144 Steinenbronn

                      having sole power of representation

                      born: 13.02.1962

                      Profession: Engineer

 

 

Proxy

 

                      Klaus Spitzley

                      D 97990 Weikersheim

                      having sole power of representation

                      born: 12.09.1950

 Proxy:

                      Erik Roßmeißl

                      D 70736 Fellbach

                      having sole power of representation

                      born: 17.05.1969

                      Profession: Businessman

 Proxy:

                      Theodor Helmle

                      Schlierbachstr. 32

                      D 73479 Ellwangen

                      authorized to jointly represent the company

                      born: 23.12.1951

                      Profession: Fully qualified engineer

 

 Further functions/participations of Dr. Bernd Thomas Schimpf

 (Manager)

 Member of the Supervisory Board:

                      attocube systems AG

                      Königinstr. 11a ( Rgb )

                      D 80539 München

                      Legal form: Public limited company

                      Share capital:     EUR             64,646.00

                      Registered

                      on:         16.07.2001

                      Reg. data:  80333 München, HRB 138094

 

 

 COMPANY HISTORY

 

 27.09.1984 - 27.06.2008  Alpha-Getriebebau GmbH

                          Walter-Wittenstein-Str. 1

                          D 97999 Igersheim

                          Private limited company

 

 

 RESIGNED ACTING PERSONS AND SHAREHOLDERS

 

 16.08.2012 - 08.04.2014  Manager

                          Johannes Arnold

                          D 68766 Hockenheim

 11.04.2008 - 08.04.2014  Manager

                          Dieter Derr

                          D 60306 Frankfurt

 

 

 BUSINESS ACTIVITIES

 

 Main industrial sector

 27110   Manufacture of electric motors, generators and  transformators

 28150   Manufacture of bearings, gears, gearing and driving  elements

 71121   Engineering activities in the field of technical overall  planning

 72190   Other research and experimental development on natural sciences and engineering

 

 

 BRANCHES AND FACTORIES

 

 Branch:

                      WITTENSTEIN alpha GmbH

                      Kapellenstr. 5

                      D 65396 Walluf

                      TEL.: 06123/990529

 

 

 FINANCIAL INFORMATION

 

 Payment experience:  Payment

 

 Negative information:We have no negative information at hand.

 

 Maximum credit:           800,000 EUR

 

                                    The maximum credit is our recommendation for the maximum credit limit for the inquired

                                    company.

 

 

 REAL ESTATE

 

 Type of ownership:       Tenant

 Address                       Walter-Wittenstein-Str. 1

                                    D 97999 Igersheim

 

 Land register documents were not available.

 

 

 BANKERS

 

 Principal bank

 SPARKASSE TAUBERFRANKEN, 97980 BAD MERGENTHEIM

 Sort. code: 67352565

 BIC: SOLADES1TBB

 

 Further banks

 DEUTSCHE BANK, 97408 SCHWEINFURT

 Sort. code: 79070016, Account no.: 8416760

 BIC: DEUTDEMM790, IBAN: DE06790700160841676000

 FELLBACHER BANK, 70703 FELLBACH, WÜRTT

 Sort. code: 60261329, Account no.: 25788000

 BIC: GENODES1FBB, IBAN: DE76602613290025788000

 

 

 FINANCIAL FIGURES

 

 Financial year:                          01.04. - 31.03.

 Share capital:                           EUR          1,500,000.00

 The number of employees is not known.

 

 Control and profit transfer agreement to:

                      WITTENSTEIN AG

                      Walter-Wittenstein-Str. 1

                      D 97999 Igersheim

                      Post Box:

                      11 03, D 97997 Igersheim

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.04

UK Pound

1

Rs.99.58

Euro

1

Rs.71.75

 

INFORMATION DETAILS

 

Analysis Done by :

KAS

 

 

Report Prepared by :

ASH

 

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.