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Report No. : |
341011 |
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Report Date : |
15.09.2015 |
IDENTIFICATION DETAILS
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Name : |
TRINSEO EUROPE GMBH |
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Registered Office : |
Zugerstrasse 231, 8810 Horgen/ZH, Switzerland/CH |
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Country : |
Switzerland
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
01.07.2008 |
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Com. Reg. No.: |
020.4.038.154-5 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
The Company offers a line of plastics, latex and synthetic rubber
technologies supporting customers in a wide variety of industries, including
home appliances, automotive, building & construction, carpet & turf,
consumer goods, consumer electronics/ITE, electrical & lighting, medical,
packaging, paper & board, sheet & profile extrusion, and tires &
rubber goods. |
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No. of Employees : |
70 |
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) |
|
Switzerland |
A1 |
A1 |
|
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 |
SWITZERLAND - ECONOMIC OVERVIEW
Switzerland is a peaceful, prosperous,
and modern market economy with low unemployment, a highly skilled labor force,
and a per capita GDP among the highest in the world. Switzerland's economy
benefits from a highly developed service sector, led by financial services, and
a manufacturing industry that specializes in high-technology, knowledge-based
production. Its economic and political stability, transparent legal system,
exceptional infrastructure, efficient capital markets, and low corporate tax
rates also make Switzerland one of the world's most competitive economies. The
Swiss have brought their economic practices largely into conformity with the
EU's to enhance their international competitiveness, but some trade
protectionism remains, particularly for its small agricultural sector. The fate
of the Swiss economy is tightly linked to that of its neighbors in the euro
zone, which purchases half of all Swiss exports. The global financial crisis of
2008 and resulting economic downturn in 2009 stalled export demand and put
Switzerland in a recession. The Swiss National Bank (SNB) during this period
effectively implemented a zero-interest rate policy to boost the economy as
well as prevent appreciation of the franc, and Switzerland's economy began to
recover in 2010. The sovereign debt crises currently unfolding in neighboring
euro-zone countries pose a significant risk to Switzerland's financial
stability and are driving up demand for the Swiss franc by investors seeking a
safe-haven currency. The independent SNB has upheld its zero-interest rate
policy and conducted major market interventions to prevent further appreciation
of the Swiss franc, but parliamentarians have urged it to do more to weaken the
currency. The franc's strength has made Swiss exports less competitive and
weakened the country's growth outlook; GDP growth fell below 2% per year during
2011-13. Switzerland has also come under increasing pressure from individual
neighboring countries, the EU, the US, and international institutions to reform
its banking secrecy laws. Consequently, the government agreed to conform to
OECD regulations on administrative assistance in tax matters, including tax
evasion. The government has renegotiated its double taxation agreements with
numerous countries, including the US, to incorporate the OECD standard, and is
considering the possibility of imposing taxes on bank deposits held by
foreigners. These steps will have a lasting impact on Switzerland's long
history of bank secrecy.
|
Source
: CIA |
TRINSEO EUROPE
GMBH
Zugerstrasse 231 Branch:
8810 Horgen/ZH Weberrütistrasse
13
Switzerland/CH 8833
Samstagern/SZ
Switzerland/CH
Telephone: 044 7183600 044 7282929
Fax: 044 7183740
Web site: http://www.styron.com
E-mail: cig@styron.com
WIN Worldbox No.: CH0007940751
VAT-No.: CHE-223.013.167
MWST
UID-No.: CHE114396041
Established: 2008
Line of Business: Consumer
goods wholesale
Industry Division: Wholesale
trade
Industry-code (NACE): 4675 Wholesale of chemical products
4674 Wholesale of hardware, plumbing and heating
equipment and supplies
Import/Export: Import,
Export
Banks: unknown
Coverage: Company
Figures: estimated
Financial year: 2015
Employees: 70
Branches: 1
The Company offers a line of plastics, latex and synthetic rubber
technologies supporting customers in a wide variety of industries, including
home appliances, automotive, building & construction, carpet & turf,
consumer goods, consumer electronics/ITE, electrical & lighting, medical,
packaging, paper & board, sheet & profile extrusion, and tires &
rubber goods.
Information on property ownership was not available.
Company No: 020.4.038.154-5
UID-No.: CHE114396041
Legal form: Limited Liability
Company
Registration: 01.07.2008
Legal status: active
Responsible Register: Handelsregister
des Kantons Zürich
History: Date of Statutes:
20.07.2010
Date of Statutes:
02.03.2010
Date of Statutes:
17.12.2009
Date of Statutes:
25.07.2008
Date of Incorporation
Statutes: 26.06.2008
Entry Deleted Name
30.01.2015 Trinseo
Europe GmbH
30.01.2015 removed Styron Schweiz GmbH
30.01.2015 removed K-Dow Petrochemicals Schweiz GmbH
30.01.2015 removed Daulat Schweiz GmbH
30.01.2015 removed Styron Europe GmbH
10.03.2010 30.01.2015 Styron Europe GmbH
15.01.2010 10.03.2010 Styron Schweiz GmbH
31.07.2008 15.01.2010 K-Dow Petrochemicals Schweiz GmbH
01.07.2008 31.07.2008 Daulat Schweiz GmbH
Entry Deleted Legal domicile
01.07.2008 Horgen,
Switzerland
Entry Deleted Address
03.01.2012 Zugerstrasse
231, 8810 Horgen/ZH, Switzerland/CH
01.07.2008 03.01.2012 Bachtobelstrasse 3, 8810 Horgen/ZH,
Switzerland/CH
Entry Deleted Capital
01.07.2008 LLC
Capital CHF 20,000
Entry Deleted Capital Structure
06.05.2010 1
Participation shares of CHF 20,000.--
01.07.2008 06.05.2010 1 Participation shares of CHF 20,000.--
Title Name
General Manager Isabel
Hacker
Citizen: Germany
Residential address:
Thalwil, Switzerland
single signature
Registered since:
23.08.2011
General Manager Christian
Page
Citizen: Siviriez,
Switzerland
Residential address:
Feusisberg, Switzerland
single signature
Registered since:
19.04.2013
Chairman of the management Martin
Pugh
Citizen: United Kingdom
Residential address:
Pont-en-Ogoz, Switzerland
single signature
Registered since:
19.04.2013
Title Name
Auditor PricewaterhouseCoopers AG
Residential address:
Zürich, Switzerland
Id: CHE-106.839.438
Registered since:
27.01.2011
Title Name
Chief Executive Officer Martin
Pugh
Name: Bain Capital LLC
City/Country: Boston/Massachusetts,
United States of America/US
Consolidation: consolidated (Segment)
Industry: Trade/Industry
Fiscal year end: 31.12.2014 31.12.2013
Number of months: 12 12
Currency: th.
USD th. USD
Statement norm: US-GAAP US-GAAP
Balance Sheet
Intangible fixed
assets 199,932.0 208,787.0
Other tangible
fixed assets 556,697.0 606,427.0
Tangible fixed
assets 556,697.0 606,427.0
Financial fixed
assets 167,658.0 155,887.0
other fixed assets 109,166.0 126,934.0
Fixed assets 1,033,453.0 1,098,035.0
Stocks 473,861.0 530,191.0
Trade accounts
receivable 601,066.0 717,482.0
Liquid assets 220,786.0 196,503.0
other trade accounts 26,950.0 32,570.0
Other current
assets 247,736.0 229,073.0
Current assets 1,322,663.0 1,476,746.0
Total assets 2,356,116.0 2,574,781.0
Capital 548,018.0 339,428.0
Other shareholders
funds -227,153.0 3,774.0
Total shareholders equity 320,865.0 343,202.0
long term debt
(financial debts) 1,194,648.0 1,327,667.0
Other non current
liabilities 266,598.0 237,350.0
Non current liabilities 1,461,246.0 1,565,017.0
short term debt
(financial debts) 7,559.0 8,754.0
Trade accounts
payable 383,297.0 462,304.0
Accruals 120,928.0 136,129.0
other accounts
payable 62,221.0 59,375.0
other current
liabilities 183,149.0 195,504.0
Current liabilities 574,005.0 666,562.0
Shareh. equity, min. interests & liabilities 2,356,116.0 2,574,781.0
Profit and loss
account
Net sales 5,127,961.0 5,307,414.0
Operating revenue 5,127,961.0 5,307,414.0
Cost of goods sold 4,830,640.0 4,949,404.0
Gross profit 297,321.0 358,010.0
Other operating
expenses 260,370.0 244,735.0
Operating result 36,951.0 113,275.0
other financial
revenues 47,749.0 39,138.0
Financial income 47,749.0 39,138.0
Interest expenses 124,923.0 132,038.0
other financial
expenses 7,390.0 20,744.0
Financial expenses 132,313.0 152,782.0
Financial result -84,564.0 -113,644.0
Result before extraordinary items -47,613.0 -369.0
Result before taxes -47,613.0 -369.0
Taxes 19,719.0 21,849.0
Result before
minority interests -67,332.0 -22,218.0
Result for the financial year -67,332.0 -22,218.0
Cash flow
Depreciation 103,706.0 95,196.0
Cash flow 36,374.0 72,978.0
Cash flow from
operating activities 117,221.0 211,335.0
Investments in
tangible fixed assets 98,606.0 73,544.0
Cash flow from
investing activities -92,604.0 -33,358.0
Cash flow from
financing activities 8,119.0 -220,198.0
Others -8,453.0 2,367.0
Change in
liquidity 24,283.0 -39,854.0
Liquidity at
beginning of the year 196,503.0 236,357.0
Liquidity at end
of the year 220,786.0 196,503.0
Research and
Development 53,400.0 49,700.0
Added value 181,016.0 226,865.0
Working Capital 691,630.0 785,369.0
Sales per Employee 2,353.4
Gross cost land
and buildings 186,781.0 206,045.0
Gross cost other
tangible fixed assets 694,299.0 684,177.0
Gross cost total 881,080.0 890,222.0
Employees at year end 2,179
No. of Owner/-s: 1
Owner: The company is foreign owned.
Class: 100%
Type: indirect, Group-Level 2
Name: Trinseo S.A.
City/Country: Findel,
Luxembourg/LU
Interest: 100,00% voting
right, 100,00% capital interest (since 15.06.2010)
Class: 100%
Type: indirect, Group-Level 3
Name: Trinseo Materials Operating
S.C.A.
City/Country: Fidel,
Luxembourg/LU
Interest: 100,00% voting
right, 100,00% capital interest (since 15.06.2010)
Class: 100%
Type: direct
Name: Styron Holding B.V.
City/Country: Hoek,
Netherlands/NL
Capital share: CHF 20,000.--
Interest: 100,00% voting
right, 100,00% capital interest (since 06.05.2010)
Class: 50-100%
Type: indirect, Group-Level 1
Name: Bain Capital LLC
City/Country: Boston/Massachusetts,
United States of America/US
Interest: 89,70% voting
right, 89,70% capital interest (since 15.06.2010)
Class: 100%
Name: Styron Europe GmbH
City/Country: Praha, Czech/CZ
Interest: 100,00% voting
right, 100,00% capital interest
Class: 100%
Name: Trinseo Export GmbH
City/Country: Horgen/ZH,
Switzerland/CH
Interest: 100,00% voting
right, 100,00% capital interest (since 12.09.2008)
Balance sheet publication:
The subject company does not publish balance sheet or turnover figures.
Control date Year No. Amount
CHF Status
05.03.2014 2014 0 Legal
actions
31.12.2013 2013 0 Legal
actions
31.12.2012 2012 0 Legal
actions
31.12.2011 2011 0 Legal
actions
31.12.2010 2010 0 Legal
actions
31.12.2009 2009 0 Legal
actions
31.12.2008 2008 0 Legal
actions
31.12.2007 2007 0 Legal
actions
31.12.2006 2006 0 Legal
actions
Official bankruptcy reports:
No bankruptcy publications available on the subject.
An updated legal action check is only available against proof of
interest. e.g. a copy of an enquiry letter, and order or invoice relating to
the subject company.
The company is not listed in the WorldCompliance database.
Payment experiences from collection cases:
No payment experiences from legal collection cases are available.
Mode of payment / Business conduct:
There are no complaints about the mode of payment and the business
conduct.
Debt collection case:
MAY 2013: CHF 88.00, paid.
Note: The VAT number - CHE-223.013.167 MWST - is the Group VAT number.
Financial Statements: The
company does not disclose any financial statements. Third parties are not
permitted any insight into the financial affairs. It is therefore difficult to
make a proper assessment of the actual situation.
Financial Situation: The
financial situation appears to be good.
Payment experiences: Financial
obligations are met as appropriate.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.37 |
|
|
1 |
Rs.102.54 |
|
Euro |
1 |
Rs.75.32 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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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 |
|
|
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.