MIRA INFORM REPORT

 

 

Report No. :

504866

Report Date :

26.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

HARTMANN ELECTRONIC GMBH

 

 

Registered Office :

Motorstr. 43, D 70499 Stuttgart

 

 

Country :

Germany

 

 

Date of Incorporation :

1972

 

 

Com. Reg. No.:

HRB 7630

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Manufacture of Electronic Components

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

 

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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

 

Country Name

                Previous Rating               

(30.09.2017)

Current Rating

(31.12.2017)

Germany

A1

A1

 

Risk Category

 

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

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 a large increase in 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 economic 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. The German Government introduced a minimum wage in 2015 that increased to $9.79 (8.84 euros) in January 2017.

 

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 2017 Germany reached a budget surplus of 0.7%. 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 during 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 largely with renewable energy, which accounted for 29.5% of gross electricity consumption in 2016, 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. Domestic consumption, investment, and exports are likely to drive German GDP growth in 2018, and the country’s budget and trade surpluses are likely to remain high.

 

Source : CIA

 

 

Company name & address

 

HARTMANN ELECTRONIC GMBH

 

 Company Status:         active

                                    Motorstr. 43

                                    D 70499 Stuttgart

                                    Telephone:0711/139890

                                    Telefax:  0711/8661191

                                    Homepage: www.hartmann-elektronik.de

                                    E-mail:   info@hartmann-elektronik.de

 

 VAT no.:                      DE147816208

 

 

CONCLUSION

 

 Business relations are permissible.

 

 LEGAL FORM           Private Limited Company

 Date of foundation:  1972

 Shareholders'

 agreement:           15.11.1972

 Registered on:       11.05.1978

 Commercial Register: Local court 70190 Stuttgart

 under:               HRB 7630

 

 Share capital:                          EUR            222,000.00

 

 Shareholder:

                      IFINA Beteiligungsgesellschaft mit

                      beschränkter Haftung

                      Erbeweg 13-15

                      D 32457 Porta Westfalica

                      Legal form: Private limited company

                      Share capital:     EUR          4,000,000.00

                      Share:             EUR            222,000.00

                      Registered on: 30.04.2008

                      Reg. data: 32545 Bad Oeynhausen, HRB 10885

                      Profit transfer agreement

 Manager:

                      Dr. Günter Zahnenbenz

                      Untere Hagstr. 29

                      D 70565 Stuttgart

                      having sole power of representation

                      born: 09.02.1955

                      Marital status: married

 Manager:

                      Frank Godulla

                      D 71732 Tamm

                      authorized to jointly represent the company

                      born: 21.04.1965

 Proxy:

                      Gabriele Schuler

                      D 70499 Stuttgart

                      authorized to jointly represent the company

                      born: 02.05.1962

 

 Further functions/participations of Dr. Günter Zahnenbenz

 (Manager)

 Manager:

                      W-IE-NE-R Power Electronics GmbH

                      Linde 18

                      D 51399 Burscheid

                      Legal form: Private limited company

                      Share capital:     EUR             51,129.19

                      Registered

                      on:         13.02.1992

                      Reg. data:  50939 Köln, HRB 48878

 

 

COMPANY HISTORY

 

 company name and legal form

 20.11.1996 - 28.02.2013  Hartmann Elektronik GmbH

                          Motorstr. 43

                          D 70499 Stuttgart

                          Private limited company

 02.03.1978 - 20.11.1996  Karlheinz Hartmann Electronic

                          Gesellschaft mit beschränkter Haftung

                          Motorstr. 43

                          D 70499 Stuttgart

                          Private limited company

 15.11.1972 - 02.03.1978  Karlheinz Hartmann Electronic

                          Gesellschaft mit beschränkter Haftung

                          D 70839 Gerlingen

                          Private limited company

 

 

RESIGNED ACTING PERSONS AND SHAREHOLDERS

 

 03.04.1996 - 18.10.2016  Manager

                          Werner Fritz

                          Rebhuhnweg 5

                          D 70499 Stuttgart

 

 

BUSINESS ACTIVITIES

 

 Main industrial sector

 2611    Manufacture of electronic components

 

 

PARTICIPATIONS

 

 Shareholder:

                      Merath Metallsysteme GmbH

                      Flurstr. 11

                      D 71334 Waiblingen

                      Legal form: Private limited company

                      Company Status: active

                      Share capital:     EUR            150,000.00

                      Share:             EUR             15,000.00

                      Reg. data:  30.03.1999

                                  Local court 70190 Stuttgart

                                  HRB 263911

 

 

FINANCIAL INFORMATION

 

 Payment experience:  No Complaints

 

 Negative information: We have no negative information at hand.

 

 PMI:              No significant / relevant payment experience

                      information pertaining to the company

                      inquired upon is shown in the Deutscher

                      Debitoren Monitor (DDMonitor).

 

 

 

 REAL ESTATE

 

 Type of ownership:   Tenant

 Address              Motorstr. 43

                      D 70499 Stuttgart

 

 Real Estate of:      IFINA Beteiligungsgesellschaft mit

                      beschränkter Haftung

 Type of ownership:   Tenant

 Address              Erbeweg 13-15

                      D 32457 Porta Westfalica

 

 Land register documents were not available.

 

 

BANKERS

 

 Principal bank

 LANDESBANK BADEN-WÜRTTEMBERG, 70144 STUTTGART

 Sort. code: 60050000

 BIC: SOLADESTXXX

 

 Further banks

 COMMERZBANK, 70049 STUTTGART

 Sort. code: 60040071

 BIC: COBADEFFXXX

 DEUTSCHE BANK, 78209 SINGEN (HOHENTWIEL)

 Sort. code: 69270038

 BIC: DEUTDE6F692

 COMMERZBANK VORMALS DRESDNER BANK, 70049 STUTTGART

 Sort. code: 60080000

 BIC: DRESDEFF600

 LANDESBANK BADEN-WÜRTTEMBERG/BADEN-WÜRTTEMBERGISCHE BANK, 70144

 STUTTGART

 Sort. code: 60050101

 BIC: SOLADEST600

 

 

FINANCIAL FIGURES

 

 Financial year:      01.01. - 31.12.

 Share capital:                          EUR            222,000.00

 The number of employees is not known.

 

 

 Profit transfer agreement to:

                      IFINA Beteiligungsgesellschaft mit

                      beschränkter Haftung

                      Erbeweg 13-15

                      D 32457 Porta Westfalica

 

 

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 66.70

UK Pound

1

INR 93.14

Euro

1

INR 81.43

EUR

1

INR 81.38

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

TPT

 

 

RATING EXPLANATIONS

 

Credit Rating

 

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

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

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

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.