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MIRA INFORM REPORT
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Report No. : |
482697 |
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Report Date : |
04.01.2018 |
IDENTIFICATION DETAILS
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Name : |
ASHLAND INDUSTRIES EUROPE GMBH |
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Registered Office : |
Rheinweg 11, 8200 Schaffhausen/SH /CH |
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Country : |
Switzerland |
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Date of Incorporation : |
01.04.2005 |
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Com. Reg. No.: |
290.4.015.069-9 |
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Legal Form : |
Limited
Liability Company |
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Line of Business : |
Wholesale of chemical products |
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No. of Employees : |
35-49 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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Status : |
Satisfactory |
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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 (30.06.2017) |
Current Rating (30.09.2017) |
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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 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 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 ongoing economic instability in Russia and other eastern European economies continue to pose a significant risk to the Swiss economy, driving 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 2011-16.
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, and is openly considering the possibility of imposing taxes on bank deposits held by foreigners.
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Source
: CIA |
Note
Your
provided telephone and fax number is invalid for subject company.
Company
name and address
Ashland Industries
Europe GmbH
Operating address:
Rheinweg
11
8200
Schaffhausen/SH
Switzerland/CH
Telephone: +41
525605600
Fax: +41
525605599
Web site: http://www.ashland.com
E-mail: info@ashland.com
WIN Worldbox No.: CH0006642867
VAT-No.: CHE-112.297.540 MWST
UID-No.: CHE112297540
Profile
Established: 2005
Line of Business: Consumer goods wholesale
Industry Division: Wholesale trade
Industry-code (NACE): 4675 Wholesale
of chemical products
Import/Export: Import, Export
Banks: unknown
Operational Figures
Coverage: Company
Figures: estimated
Financial year: 2017
Employees: 35-49
Sales: CHF 40-60 Mio
Activity
The business
activities includes sales of chemical specialties globally used in making a
variety of products for home, office, and industrial markets.
The
company operate a central regional office for Ashland Specialty Ingredients and
Ashland Water Technologies, plus corporate services representatives for other
commercial units. A national network of local sales, technical service and
distributor representatives serves their key markets:
-Building
and Construction
-General
Manufacturing
-Mining
and Extraction
-Municipal
-Packaging,
Converting and Printing
-Power
Generation
-Transportation
Operations
and Branches:
At the
address, Rheinweg 11, 8200 Schaffhausen, Switzerland, we find office of the
company.
Real Estate
Real Estate: The company does not appear to own any property.
Company Register
Company No: 290.4.015.069-9
UID-No.: CHE112297540
Legal form: Limited Liability Company
Registration: 01.04.2005
Legal status: active
Responsible Register: Handelsregister des Kantons Schaffhausen
History: Date of Statutes: 29.04.2015
Date
of Statutes: 18.03.2010
Date
of Statutes: 20.10.2008
Date
of Statutes: 27.06.2005
Date
of Incorporation Statutes: 30.03.2005
Entry Deleted Name
01.04.2010 Ashland Industries Europe GmbH
01.04.2010 Ashland
Industries Europe Ltd liab. Co (Name translated)
01.04.2010 Ashland Industries Europe S.à r.l. (Name
translated)
01.04.2005 01.04.2010 Hercules
International GmbH
01.04.2005 01.04.2010 Hercules
International Ltd liab. Co (Name
translated)
01.04.2005 01.04.2010 Hercules
International S.à.r.l. (Name translated)
Entry Deleted Legal domicile
30.06.2005 Neuhausen
am Rheinfall, Switzerland
01.04.2005 30.06.2005 Schaffhausen, Switzerland
Entry Deleted Address
30.06.2005 Rheinweg
11, 8200 Schaffhausen/SH, Switzerland/CH
01.04.2005 30.06.2005 BDS Consulting AG, Vordergasse 3, 8200
Schaffhausen, Switzerland/CH
Entry Deleted Capital
01.04.2005 LLC Capital CHF 2,000,000
Entry Deleted Capital Structure
22.04.2013 2,000 Participation shares of CHF 1,000.--
16.04.2013 22.04.2013 2,000
Participation shares of CHF 1,000.--
29.10.2012 16.04.2013 2,000
Participation shares of CHF 1,000.--
03.11.2008 29.10.2012 2,000
Participation shares of CHF 1,000.--
Management
Title Name
General Manager Jumelet, Frank Jacob
Adriaan
Citizen:
Netherlands
Residential
address: Zürich, Switzerland
joint
signature of two
Registered
since: 09.04.2013
General Manager Muylaert, Johan
Citizen:
Belgium
Residential
address: Neuhausen am Rheinfall, Switzerland
joint
signature of two
Registered
since: 20.08.2009
General Manager Roe, Michael S.
Citizen:
United States of America
Residential
address: Covington/KY, United States of America
joint
signature of two
Registered
since: 09.04.2013
General Manager Tecuatl Bremer,
Christiaan
Citizen:
Netherlands
Residential
address: Neuhausen am Rheinfall, Switzerland
single signature
Registered
since: 11.05.2012
Chairman of the management Raccuia Bolderman, Paola
Citizen:
Netherlands
Residential
address: Neuhausen am Rheinfall, Switzerland
single
signature
Registered
since: 08.07.2008
Member with procuration Köhne, Peter
Citizen:
Germany
Residential
address: Zürich, Switzerland
joint
power of attorney of two
Registered
since: 13.08.2013
External Positions
Title Name
Auditor Ernst & Young AG,
Residential
address: Basel, Switzerland
Id:
CHE-105.932.265
Registered
since: 13.05.2015
Executive board
Title Name
Chief Executive Officer Raccuia Bolderman, Paola
Ultimate Parent Company
Name: Ashland Global Holdings Inc.
City/Country: Covington/Kentucky, United States of America/US
Direct owner/-s
No. of owner/-s: 1
Owner: The company is domestic owned.
Class: 100%, directly held
Name: Ashland Switzerland Holdings GmbH
City/Country: Schaffhausen/SH, Switzerland/CH
Capital share: CHF 2,000,000.--
Interest: 100,00% voting right, 100,00% capital
interest (since 22.04.2013)
Investments
It is
believed that the company has no investments.
Sisters
Name: Ashland Specialties Austria GmbH
City/Country: Wien, Austria/AT
Financial Data Ashland Global
Holdings Inc.
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 30.09.2017 30.09.2016 30.09.2015
Number of months: 12 12 12
Currency: th.
USD th. USD th. USD
Balance Sheet
Intangible fixed assets 3,784,000.0 3,465,000.0 3,628,000.0
Land and buildings 1,319,000.0 1,187,000.0
Other tangible fixed assets 1,970,000.0 905,000.0 995,000.0
Tangible fixed assets 1,970,000.0 2,224,000.0 2,182,000.0
Financial fixed assets 302,000.0 349,000.0 350,000.0
other fixed assets 659,000.0 793,000.0 801,000.0
Fixed assets 6,715,000.0 6,831,000.0 6,961,000.0
Stocks 634,000.0 671,000.0 706,000.0
Trade accounts receivable 612,000.0 894,000.0 961,000.0
Cash & Cash Equivalents 566,000.0 1,188,000.0 1,257,000.0
other trade accounts 91,000.0 113,000.0 169,000.0
Other current assets 657,000.0 1,301,000.0 1,426,000.0
Current assets 1,903,000.0 2,866,000.0 3,093,000.0
Total assets 8,618,000.0 9,697,000.0 10,054,000.0
Capital 932,000.0 924,000.0 47,000.0
Other shareholders funds 2,474,000.0 2,423,000.0 3,281,000.0
Total shareholders equity 3,406,000.0 3,347,000.0 3,328,000.0
Minority interests -182,000.0 -291,000.0
long term debt (financial debts) 2,584,000.0 3,055,000.0 3,348,000.0
Provisions 1,080,000.0 1,076,000.0
Other non current liabilities 1,660,000.0 1,181,000.0 1,151,000.0
Non current liabilities 4,244,000.0 5,316,000.0 5,575,000.0
short term debt (financial debts) 235,000.0 189,000.0 381,000.0
Trade accounts payable 409,000.0 541,000.0 573,000.0
Accruals 486,000.0 488,000.0
other accounts payable 324,000.0
other current liabilities 324,000.0 486,000.0 488,000.0
Current liabilities 968,000.0 1,216,000.0 1,442,000.0
Shareh. equity, min. int. &
liabilities 8,618,000.0 9,697,000.0 10,054,000.0
Profit and loss
account
Sales 3,260,000.0 4,948,000.0 5,387,000.0
Net sales 3,260,000.0 4,948,000.0 5,387,000.0
Other operating revenue 7,000.0 28,000.0 23,000.0
Operating revenue 3,267,000.0 4,976,000.0 5,410,000.0
Cost of goods sold 2,372,000.0 3,321,000.0 3,814,000.0
Gross profit 895,000.0 1,655,000.0 1,596,000.0
Other operating expenses 753,000.0 1,328,000.0 1,138,000.0
Operating result 142,000.0 327,000.0 458,000.0
Interest revenues 4,000.0 6,000.0 6,000.0
other financial revenues 11,000.0 8,000.0 3,000.0
Financial income 15,000.0 14,000.0 9,000.0
Interest expenses 232,000.0 190,000.0 166,000.0
other financial expenses 23,000.0 15,000.0 132,000.0
Financial expenses 255,000.0 205,000.0 298,000.0
Financial result -240,000.0 -191,000.0 -289,000.0
Result before extraordinary items -98,000.0 136,000.0 169,000.0
Extraordinary income 133,000.0 118,000.0
Extraordinary expenses 31,000.0
Extraordinary Result 133,000.0 -31,000.0 118,000.0
Result before taxes 35,000.0 105,000.0 287,000.0
Taxes 7,000.0 133,000.0 -22,000.0
Result before minority interests 28,000.0 -28,000.0 309,000.0
minority interests 27,000.0 1,000.0
Result for the financial year 1,000.0 -29,000.0 309,000.0
Cash flow
Depreciation 301,000.0
Cash flow 302,000.0 -29,000.0
Cash flow from operating activities 255,000.0
Investments in tangible fixed assets 199,000.0
Cash flow from investing activities -829,000.0
Cash flow from financing activities 154,000.0
Others -31,000.0
Change in liquidity -451,000.0
Liquidity at beginning of the year 1,017,000.0
Liquidity at end of the year 566,000.0
Notes
Research and Development 83,000.0
Added value 568,000.0 295,000.0 453,000.0
Working Capital 837,000.0 1,024,000.0 1,094,000.0
Net Current Assets 935,000.0 1,650,000.0 1,651,000.0
Sales per Employee 501.5 824.7 897.8
Gross cost land and buildings 922,000.0
Gross cost other tangible fixed assets 2,840,000.0
Gross cost total 3,762,000.0
Employees
at year end 6,500 6,000 6,000
Financials
Balance
sheet publication:
The
subject company does not publish balance sheet or turnover figures.
Legal Actions
Control date Year No. Amount CHF Status
05.08.2015 2015 0 Legal
actions
31.12.2014 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 1 3,400.-- Open legal actions
31.12.2008 2008 0 Legal
actions
31.12.2007 2007 0 Legal
actions
31.12.2006 2006 0 Legal
actions
31.12.2005 2005 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.
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.
Payment experiences
debt
collection case:
SEP
2013: CHF 133.00, paid.
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 appears to be
good.
Payment experiences: No Complaints.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.48 |
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1 |
INR 86.41 |
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Euro |
1 |
INR 76.54 |
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CHF |
1 |
INR 65.00 |
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 : |
TRU |
RATING EXPLANATIONS
|
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
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
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.