MIRA INFORM REPORT

Report No. :	484833
Report Date :	09.01.2018

IDENTIFICATION DETAILS

Name :	FEDERAL-MOGUL DEVA GMBH
Registered Office :	Schulstr. 20D 35260 Stadtallendorf, Post Box:11 60, D 35251 Stadtallendorf
Country :	Germany
Date of Incorporation :	21.07.1970
Com. Reg. No.:	HRB 3411
Legal Form :	Private limited company
Line of Business :	· Manufacture of other inorganic basic chemicals · Manufacture of other organic basic chemicals · Manufacture of bearings, gears, gearing and driving elements · Engineering activities in the field of technical sectoral planning andengineering design
No. of Employees :	200

RATING & COMMENTS

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

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Good
Payment Behaviour :	Regular
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 (30.06.2017)	Current Rating (30.09.2017)
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 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 2016 Germany reached a budget surplus of 0.6%. 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, bolstered by low energy prices and a weak euro, and exports are likely to drive German GDP growth again in 2017.

Source : CIA

Company name and address

Report on: Federal-Mogul DEVA GmbH

Schulstr. 20

D 35260 Stadtallendorf

Post Box:

11 60, D 35251 Stadtallendorf

Company Status: active

Telephone:06428/7010

Telefax: 06428/701108

Homepage: www.deva.de

E-mail: info@deva.de

VAT no.: DE811153252

CONCLUSION Business relations are permissible.

Company summery

LEGAL FORM Private limited company

Date of foundation: 21.07.1970

Begin of business

activities: 21.07.1970

Registered on: 21.07.1970

Commercial Register: Local court 35037 Marburg

under: HRB 3411

Share capital: EUR 6,421,000.00

Shareholder:

Federal-Mogul Verwaltungs- und

Beteiligungs-GmbH

Bürgermeister-Schmidt-Str. 17

D 51399 Burscheid

Legal form: Private limited company

Share capital: EUR 20,589,468.41

Share: EUR 6,421,000.00

Registered on: 13.09.1995

Reg. data: 50939 Köln, HRB 49121

Manager:

Hendryk Pfeuffer

D 57520 Langenbach

authorized to jointly represent the company

born: 09.04.1978

Manager:

Stefan Rittmann

D 67292 Kirchheimbolanden

born: 21.04.1966

Proxy:

Wolfgang Ersfeld

D 35037 Marburg

authorized to jointly represent the company

born: 14.07.1961

Proxy:

Christian Gröver

D 91315 Höchstadt

authorized to jointly represent the company

born: 04.04.1968

Further functions/participations of Stefan Rittmann (Manager)

Proxy:

Federal-Mogul Wiesbaden GmbH

Stielstr. 11

D 65201 Wiesbaden

Legal form: Private limited company

Share capital: EUR 25,564,700.00

Registered

on: 20.07.2006

Reg. data: 65189 Wiesbaden, HRB 22485

COMPANY HISTORY

company name and legal form

21.07.1970 - 06.09.1998 Glacier Gesellschaft mit beschränkter

Haftung DEVA-Werke

Schulstr. 20

D 35260 Stadtallendorf

Private limited company

RESIGNED ACTING PERSONS AND SHAREHOLDERS

29.08.2008 - 23.08.2017 Manager

Manfred Häuser

Erlenstr. 3

D 65795 Hattersheim

07.06.2001 - 18.12.2015 Manager

Augustinus Stadlmayr

A Desselbrunn (Oberösterreich)

BUSINESS ACTIVITIES

Main industrial sector

2013 Manufacture of other inorganic basic chemicals

2014 Manufacture of other organic basic chemicals

28150 Manufacture of bearings, gears, gearing and driving elements

71122 Engineering activities in the field of technical sectoral planning andengineering design

FINANCIAL INFORMATION

Payment experience: Regular

Negative information:We have no negative information at hand.

REAL ESTATE

Type of ownership: proprietor

Share: 100.00 %

Address Schulstr. 20

D 35260 Stadtallendorf

Value at selling price: EUR 2,800,000.00

Land register documents were not available.

BANKERS

Principal bank

COMMERZBANK, 35251 STADTALLENDORF

Sort. code: 53340024

BIC: COBADEFFXXX

Further banks

COMMERZBANK, 35002 MARBURG

Sort. code: 53340024

BIC: COBADEFFXXX

DEUTSCHE BANK, 35017 MARBURG

Sort. code: 53370008

BIC: DEUTDEFF533

COMMERZBANK VORMALS DRESDNER BANK, 35251 STADTALLENDORF

Sort. code: 53381843

BIC: DRESDEFF568

SPARKASSE MARBURG-BIEDENKOPF, 35009 MARBURG

Sort. code: 53350000

BIC: HELADEF1MAR

FINANCIAL FIGURES

Financial year: 01.01. - 31.12.

Share capital: EUR 6,421,000.00

Real estate of the firm: EUR 2,800,000.00

Employees: 200

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.34
UK Pound	1	INR 85.89
Euro	1	INR 76.15
Euro	1	INR 75.94

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

INFORMATION DETAILS

Analysis Done by :	VIV
Report Prepared by :	KET

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)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.