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MIRA INFORM REPORT
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Report No. : |
503969 |
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Report Date : |
21.04.2018 |
IDENTIFICATION DETAILS
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Name : |
TECHNOGLASS NEW S.A. |
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Registered Office : |
Col-des-Roches 14 2400 Le Locle/NE |
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Country : |
Switzerland |
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Date of Incorporation : |
1990 |
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Com. Reg. No.: |
645.1.004.342-1 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
Subject is engaged in the development,
manufacture and distribution of glass products. The range of glasses that are
produced varies between different layers of laminated glass, achieving any
type of glass, both fall, burglar, or armor. Besides the simple laminated
glass, the company also produces insulating glass domed various executions. |
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No. of Employees : |
10-19 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Exist |
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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Switzerland |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
SWITZERLAND - ECONOMIC OVERVIEW
Switzerland, a country that espouses neutrality, is a 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 gain access to the Union’s Single Market and enhance the country’s international competitiveness. Some trade protectionism remains, however, 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 Swiss exports. The global financial crisis of 2008 and resulting economic downturn in 2009 stalled demand for Swiss exports and put Switzerland into a recession. During this period, the Swiss National Bank (SNB) implemented a zero-interest rate policy to boost the economy, as well as to prevent appreciation of the franc, and Switzerland's economy began to recover in 2010.
The sovereign debt crises unfolding in neighboring euro-zone countries, however, coupled with economic instability in Russia and other eastern European economies drove up demand for the Swiss franc by investors seeking a safe-haven currency. In January 2015, the SNB abandoned the Swiss franc’s peg to the euro, roiling global currency markets and making active SNB intervention a necessary hallmark of present-day Swiss monetary policy. 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 from 2011 through 2017.
In recent years, Switzerland has responded to increasing pressure from neighboring countries and trading partners to reform its banking secrecy laws, by agreeing to conform to OECD regulations on administrative assistance in tax matters, including tax evasion. The Swiss government has also renegotiated its double taxation agreements with numerous countries, including the US, to incorporate OECD standards.
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Source
: CIA |
Company name and address
Technoglass New S.A.
Operating address:
Col-des-Roches 14
2400 Le Locle/NE
Switzerland/CH
Telephone: +41
329314422
Fax: +41
329314447
Web site: http://www.technoglass.ch
E-mail: info@technoglass.ch
WIN Worldbox No.: CH0000347355
VAT-No.: CHE-106.727.644
MWST
UID-No.: CHE106727644
Profile
Established: 1990
Line of Business: Glas,
Building industry, Consumer goods wholesale
Industry Division: Manufacturing,
Services, Wholesale trade
Industry-code (NACE): 2311 Manufacture of flat glass
2313 Manufacture of hollow glass
2312 Shaping and processing of flat glass
4334 Painting and glazing
4644 Wholesale of china and glassware and
cleaning materials
Import/Export: Export
Banks: unknown
Operational Figures
Coverage: Company
Figures: estimated
Financial year: 2017
Employees: 10-19
Sales: CHF
4-6 Mio
Activity
The company
engages in the development, manufacture and distribution of glass products. The
range of glasses that are produced varies between different layers of laminated
glass, achieving any type of glass, both fall, burglar, or armor. Besides the
simple laminated glass, the company also produces insulating glass domed
various executions. The glass used for thermal insulation can also be made
convex form.
Operations and Branches
At the address, le Col-des-Roches 14, 2400 Le Locle,
Switzerland, we find the company's office.
Real Estate
Real Estate: The
company does not appear to own any property.
Company Register
Company No: 645.1.004.342-1
UID-No.: CHE106727644
Legal form: Company
limited by shares
Registration: 26.12.1990
Legal status: active
Responsible Register: Registre
du commerce du canton de Neuchâtel
History: Date
of Incorporation Statutes: 21.12.1990
Date
of Statutes: 11.11.2016
Entry Deleted Name
active Technoglass
New SA
Entry Deleted Legal domicile
active Le
Locle, Switzerland
Entry Deleted Address
active Col-des-Roches
14, 2400 Le Locle, Switzerland/CH
Entry Deleted Capital
active Share
Capital CHF 100,000, paid up CHF 100,000
Entry Deleted Capital Structure
active 100
Registered shares of CHF 1,000.--
Official Administration
Title Name
Director Cattin,
Pierre-Marie
Citizen:
Bois, Switzerland
Residential
address: La Chaux-de-Fonds , Switzerland
single
signature
Direct owner/-s
No. of owner/-s: 1
Owner: The
company is privately owned.
Class: 100%,
directly held
Name: Pierre-Marie
Cattin
City/Country: La
Chaux-de-Fonds, Switzerland/CH
Interest: 100,00%
voting right, 100,00% capital interest
Investments
It is believed that the company has no investments.
Financials
Balance sheet publication:
The subject company does not publish financial
figures.
Legal Actions
Control date Year No. Amount
CHF Status
11.12.2017 2017 1 2,441.-- Opposition filed
31.12.2016 2016 0 Legal
actions
31.12.2015 2015 1 9,192.-- Opposition filed
31.12.2014 2014 0 Legal
actions
31.12.2013 2013 0 Legal
actions
31.12.2010 2010 0 Legal
actions
31.12.2009 2009 0 Legal
actions
31.12.2008 2008 0 Legal
actions
No legal actions determined.
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.
Sanctions List
We did not find
the company included on the various international sanctions lists, such as the
OFAC (Office of Foreign Assets Control), the BIS (Bureau of Industry and
Security), the European Union Restrictive measures (sanctions) list, the Export
Control Organisation (ECO) of the UK, the Australian Department of Foreign
Affairs and Trade.
Credit Information
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 is difficult to assess.
Payment experiences: Financial
obligations are met as appropriate.
Credit Opinion: In
advancing credit it is advised that a bank guarantee be obtained.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 66.01 |
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1 |
INR 92.72 |
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Euro |
1 |
INR 81.45 |
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CHF |
1 |
INR 67.94 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIY |
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Report Prepared
by : |
DNS |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.