|
|
|
MIRA INFORM REPORT
|
Report No. : |
484427 |
|
Report Date : |
13.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
CABOT
SWITZERLAND GMBH |
|
|
|
|
Registered Office : |
Mühlentalstrasse 36 / 38, Durachpark, 8200 Schaffhausen/SH, Switzerland/CH |
|
|
|
|
Country : |
Switzerland |
|
|
|
|
Date of Incorporation : |
09.03.2010 |
|
|
|
|
Com. Reg. No.: |
290.4.016.741-1 |
|
|
|
|
Legal Form : |
Limited
Liability Company |
|
|
|
|
Line of Business : |
The company
engages in the trade and distribution with the specialty chemicals and
high-performance materials industry within the means of Cabot. The company
acts as a regional headquarters of Cabot Corporation, a leading global
specialty chemicals and performance materials company headquartered in
Boston, Massachusetts, USA. |
|
|
|
|
No. of Employees : |
20-34 |
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 (30.06.2017) |
Current Rating (30.09.2017) |
|
Switzerland |
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 |
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.
|
Source
: CIA |
Company
name
CABOT SWITZERLAND GMBH
Operating address
Mühlentalstrasse 36 / 38
Durachpark
8200 Schaffhausen/SH
Switzerland/CH
Telephone: +41 526303800
Fax: +41 526303810
Web site: http://www.cabot-corp.com
WIN
Worldbox No.: CH0008557486
VAT-No.: CHE-115.488.533 MWST
UID-No.: CHE115488533
Profile
Established: 2010
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: 20-34
Sales: CHF 4-6 Mio
Activity
The company
engages in the trade and distribution with the specialty chemicals and high-performance
materials industry within the means of Cabot. The company acts as a regional
headquarters of Cabot Corporation, a leading global specialty chemicals and
performance materials company headquartered in Boston, Massachusetts, USA.
Operations
and Branches:
At the
address, Mühlentalstrasse 36/38, 8200 Schaffhausen, Switzerland, we find the
company's registered office.
Real Estate
Real
Estate: The company does not appear
to own any property.
Company Register
Company No: 290.4.016.741-1
UID-No.: CHE115488533
Legal form: Limited Liability Company
Registration: 09.03.2010
Legal
status: active
Responsible
Register: Handelsregister des Kantons
Schaffhausen
History: Date of Incorporation Statutes: 04.03.2010
Entry Deleted Name
09.03.2010 Cabot Switzerland GmbH
09.03.2010 Cabot Switzerland S.à.r.l.
(Name translated)
09.03.2010 Cabot Switzerland LLC (Name
translated)
Entry Deleted Legal
domicile
09.03.2010 Schaffhausen, Switzerland
Entry Deleted Address
09.03.2010 Mühlentalstrasse 36/38, 8200
Schaffhausen/SH, Switzerland/CH
Entry Deleted Capital
09.03.2010 LLC Capital CHF 20,000
Entry Deleted Capital
Structure
09.03.2010 1 Participation shares of
CHF 20,000.--
Management
Title Name
General Manager Krummen, Dr. Norbert Bernhard
Citizen: Germany
Residential address: Radolfzell,
Germany
Born: 1955
single signature
Registered since: 02.03.2011
General
Manager Rees, Aled Wyn
Citizen: United Kingdom
Residential address: Küsnacht /ZH,
Switzerland
single signature
Registered since: 25.01.2016
General
Manager Valet, Arnayd Jean Henri
Citizen: France
Residential address: Winterthur,
Switzerland
single signature
Registered since: 21.11.2014
Chairman of
the management Cross, Nicholas Stewart
Citizen: United Kingdom
Residential address: 8234 Stetten/
SH, Switzerland
Born: 1961
single signature
Registered since: 15.03.2017
External Positions
Title Name
Auditor Deloitte AG,
Residential address: Zürich,
Switzerland
Id: CH-020.3.908.370-9
Registered since: 09.03.2010
Ultimate Parent Company
Name: Cabot Corporation
City/Country: Boston/Massachusetts, United States of
America/US
Direct owner/-s
No. of
owner/-s: 1
Owner: The company is foreign owned.
Class: 100%, directly held
Name: Cabot Luxembourg Holdings S.a.r.l.
City/Country: Luxembourg, Luxembourg/LU
Capital
share: CHF 20,000.--
Interest: 100,00% voting right, 100,00%
capital interest (since 09.03.2010)
Investments
It is
believed that the company has no investments.
Financial Data Cabot Corporation
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 30.09.2017 30.09.2016 30.09.2015 31.12.2014 30.09.2013
Number of months: 12 12 12 12 12
Currency: mil.
USD mil. USD mil. USD mil. USD mil.
USD
Statement norm: US-GAAP US-GAAP US-GAAP
Balance Sheet
Intangible fixed assets 291.0 292.0 307.0 883.0 814.0
Other tangible fixed assets 1,305.0 1,290.0 1,383.0 1,581.0 1,605.0
Tangible fixed assets 1,305.0 1,290.0 1,383.0 1,581.0 1,605.0
Financial fixed assets 68.0 119.0
other fixed assets 456.0 373.0 337.0 188.0 200.0
Fixed assets 2,052.0 1,955.0 2,027.0 2,720.0 2,738.0
Stocks 396.0 342.0 397.0 498.0 458.0
Trade accounts receivable 527.0 456.0 477.0 688.0 634.0
Cash & Cash Equivalents 280.0 200.0 77.0 67.0 95.0
other trade accounts 59.0 91.0 97.0 42.0 250.0
Accruals 69.0 58.0
Other current assets 339.0 291.0 174.0 178.0 403.0
Current assets 1,262.0 1,089.0 1,048.0 1,364.0 1,495.0
Total assets 3,314.0 3,044.0 3,075.0 4,084.0 4,233.0
Capital 62.0 62.0 63.0 64.0 64.0
Other shareholders funds 1,418.0 1,212.0 1,171.0 1,878.0 1,887.0
Total shareholders equity 1,480.0 1,274.0 1,234.0 1,942.0 1,951.0
Minority interests 121.0 98.0 104.0 122.0 132.0
long term debt (financial debts) 661.0 918.0 970.0 1,004.0 1,020.0
Other non current liabilities 310.0 330.0 299.0 386.0 286.0
Non current liabilities 971.0 1,248.0 1,269.0 1,390.0 1,306.0
short term debt (financial debts) 256.0 1.0 1.0 24.0 14.0
Trade accounts payable 339.0 364.0 389.0 512.0 662.0
Accruals 118.0 136.0
other accounts payable 29.0 59.0 78.0 94.0 32.0
other current liabilities 147.0 59.0 78.0 94.0 168.0
Current liabilities 742.0 424.0 468.0 630.0 844.0
Shareh. equity, min. int. & liabilities 3,314.0 3,044.0 3,075.0 4,084.0 4,233.0
Profit and loss account
Sales 2,717.0 2,411.0 2,871.0 3,647.0 3,456.0
Net sales 2,717.0 2,411.0 2,871.0 3,647.0 3,456.0
Operating revenue 2,717.0 2,411.0 2,871.0 3,647.0 3,456.0
Cost of goods sold 2,065.0 1,833.0 2,286.0 2,926.0 2,823.0
Gross profit 652.0 578.0 585.0 721.0 633.0
Other operating expenses 320.0 328.0 902.0 386.0 365.0
Operating result 332.0 250.0 -317.0 335.0 268.0
Interest revenues 9.0 5.0 4.0 3.0 5.0
other financial revenues 7.0 3.0 4.0 25.0 11.0
Financial income 16.0 8.0 8.0 28.0 16.0
Interest expenses 53.0 54.0 53.0 55.0 62.0
other financial expenses 7.0 11.0 1.0
Financial expenses 53.0 61.0 64.0 55.0 63.0
Financial result -37.0 -53.0 -56.0 -27.0 -47.0
Result before extraordinary items 295.0 197.0 -373.0 308.0 221.0
Extraordinary income 1.0 2.0 2.0
Extraordinary expenses 1.0
Extraordinary Result 1.0 2.0 2.0 -1.0
Result before taxes 295.0 198.0 -371.0 310.0 220.0
Taxes 29.0 34.0 -45.0 92.0 60.0
Result before minority interests 266.0 164.0 -326.0 218.0 160.0
minority interests 25.0 15.0 8.0 19.0 7.0
Result for the financial year 241.0 149.0 -334.0 199.0 153.0
Cash flow
Depreciation 155.0 161.0 183.0 201.0 190.0
Cash flow 396.0 310.0 -151.0 419.0 350.0
Cash flow from operating activities 340.0 392.0 499.0 315.0 419.0
Investments in tangible fixed assets 147.0 112.0 141.0 171.0 264.0
Cash flow from investing activities -149.0 -104.0 -162.0 -16.0 -227.0
Cash flow from financing activities -125.0 -184.0 -256.0 -302.0 -206.0
Others 14.0 19.0 -71.0 -25.0 -11.0
Change in liquidity 80.0 123.0 10.0 -28.0 -25.0
Liquidity at beginning of the year 200.0 77.0 67.0 95.0 120.0
Liquidity at end of the year 280.0 200.0 77.0 67.0 95.0
Notes
Research and Development 5.0
Added value 413.0 -135.0 566.0 470.0
Working Capital 434.0 485.0 674.0 430.0
Net Current Assets 520.0 665.0 580.0 734.0 651.0
Sales per Employee 0.6 0.6 0.8 0.7
Gross cost land and buildings 832.0 750.0 769.0 668.0 645.0
Gross cost other tangible fixed assets 2,770.0 2,683.0 2,616.0 3,042.0 3,018.0
Gross cost total 3,602.0 3,433.0 3,385.0 3,710.0 3,663.0
Employees at
year end 4,500 4,300 4,500 4,600 4,638
Financials
Balance
sheet publication:
The subject
company does not publish balance sheet or turnover figures.
Legal Actions
Control
date Year No. Amount CHF Status
15.12.2015 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
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.
Payment experiences
Payment
experiences are considered to be in order.
Remarks
Based on
the positive financial situation of the ultimate parent company, we deem stated
credit as acceptable.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.52 |
|
|
1 |
INR 86.05 |
|
Euro |
1 |
INR 76.53 |
|
CHF |
1 |
INR 65.75 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.