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MIRA INFORM REPORT
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Report No. : |
486557 |
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Report Date : |
23.01.2018 |
IDENTIFICATION DETAILS
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Name : |
FRYMAKORUMA AG |
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Registered Office : |
Theodorshofweg 6, Postfach 164, 4310 Rheinfelden/AG |
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Country : |
Switzerland |
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Date of Incorporation : |
1949 |
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Com. Reg. No.: |
400.3.027.345-6 |
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Legal Form : |
Company limited by shares |
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Line of Business : |
The division includes the manufacture, trade and distribution
of process engineering machinery and process equipment for the
pharmaceutical, food and cosmetic industry and any related scientific,
economic and industrial research. |
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No. of Employees : |
119 |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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
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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 2011-17.
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 |
Company
name
FrymaKoruma AG
Operating address
Theodorshofweg 6
Postfach 164
4310
Rheinfelden/AG
Switzerland/CH
Telephone: +41
618364141
Fax: +41
618312000
Web site: http://www.frymakoruma.com
E-mail: info@frymakoruma.com
VAT-No.: CHE-112.760.822
MWST
UID-No.: CHE112760822
Profile
Established: 1949
History: 2006: Limited company
1949: Established as Fryma AG
Line of Business: Machinery, Consumer goods wholesale
Industry Division: Manufacturing, Wholesale trade
Industry-code (NACE): 2829 Manufacture of
other general-purpose machinery n.e.c.
4669 Wholesale of other machinery and
equipment
Import/Export: Export
Quality certification: ISO 9001
ISO
14001
Banks: Neue
Aargauer Bank, Zollrain 9, 4310 Rheinfelden
Operational Figures
Coverage: Company
Figures: estimated
Financial year: 2017
Employees: 119
Sales: CHF
40-60 Mio
Activity
The division includes
the manufacture, trade and distribution of process engineering machinery and
process equipment for the pharmaceutical, food and cosmetic industry and any
related scientific, economic and industrial research. Currently, more than
23,000 machines of the company are being used in more than 180 countries.
Product range:
- Processing Units
(Dinex, Frymix II, MaxxD)
- Deaerator (VE)
- Mills (perforated
disc mill, toothed colloid mill, corundum stone mill, stirred ball mill)
- Inline Homogenizer
(DIL)
Services:
- Spare Parts
- Installation &
Commissioning
- Repair /
Maintenance
- Training and
Seminar courses
- Retrofits &
Upgrades
- Production
Optimization
- Validation and
Consulting
Operations and
Branches:
At the address, Theodorshofweg
6, 4310 Rheinfelden, Switzerland, we find office of the company.
Real Estate
Real Estate: It
is understood that the company owns certain property.
Company Register
Company No: 400.3.027.345-6
UID-No.: CHE112760822
Legal form: Company
limited by shares
Registration: 09.02.2006
Legal status: active
Responsible Register: Handelsregister des Kantons Aargau
History: Date
of Statutes: 14.04.2011
Date
of Statutes: 16.02.2007
Date
of Incorporation Statutes: 31.01.2006
Entry Deleted Name
09.02.2006 FrymaKoruma
AG
Entry Deleted Legal domicile
09.02.2006 Rheinfelden,
Switzerland
Entry Deleted Address
05.06.2007 Theodorshofweg
6, 4310 Rheinfelden, Switzerland/CH
09.02.2006 05.06.2007 Theodorshofweg 20, 4310 Rheinfelden/AG,
Switzerland/CH
Entry Deleted Capital
28.02.2007 Share
Capital CHF 1,250,000, paid up CHF 1,250,000
Entry Deleted Capital Structure
28.02.2007 1,250
Bearer shares of CHF 1,000.--
Entry Deleted Remarks
28.02.2007 Merger:
On 15.02.2007 the company merged with Romaco AG, based in Volketswil
(CH-020.3.000.505-9).
Official Administration
Title Name
President Pehmöller,
Olaf
Citizen:
Germany
Residential
address: Nordstemmen , Germany
joint
signature of two
Registered
since: 27.11.2014
Director Dähling,
Kurt
Citizen:
Germany
Residential
address: Hamburg , Germany
joint
signature of two
Registered
since: 27.11.2014
Director Schröder,
Markus Siegfried
Citizen:
Germany
Residential
address: 4314 Zeiningen/AG, Switzerland
joint
signature of two
Registered
since: 29.09.2008
Management
Title Name
Member of the management Fazio, Marcus A.
Citizen:
Germany
Residential
address: 6440 Brunnen/SZ, Switzerland
joint
signature of two
Registered
since: 13.04.2010
Member of the management Fehr, Harald
Citizen:
Germany
Residential
address: Görwihl , Germany
joint
signature of two
Registered
since: 10.02.2011
Member of the management Schweizer, Marco
Citizen:
Reigoldswil, Switzerland
Residential
address: Zeiningen, Switzerland
joint
signature of two
Registered
since: 02.06.2015
Member with signing authority Brogli, Hans
Citizen: Zeiningen, Switzerland
Residential
address: Zeiningen, Switzerland
joint
signature of two
Registered
since: 22.03.2006
Member with signing authority Brugger, Norbert Dieter
Citizen:
Germany
Residential
address: Rheinfelden, Germany
joint
signature of two
Registered
since: 02.10.2013
Member with signing authority Kellner, Matthias
Citizen:
Germany
Residential
address: Breisach, Germany
joint
signature of two
Registered
since: 24.02.2009
Member with signing authority Kysela, Simona
Citizen: Neuhausen
am Rheinfall, Switzerland
Residential
address: Wisen/SO, Switzerland
joint signature of two
Registered
since: 02.10.2013
External Positions
Title Name
Auditor Deloitte
AG,
Residential
address: Basel, Germany
Id:
CHE-156.952.551
Registered
since: 10.02.2016
Ultimate Parent Company
Name: ProXES
Holding GmbH
City/Country: Hameln,
Germany/DE
Direct owner/-s
No. of owner/-s: 1
Owner: The
company is foreign owned.
Class: 100%,
directly held
Name: ProXES
GmbH
City/Country: Hameln,
Germany/DE
Interest: 100,00%
voting right, 100,00% capital interest
Investments
It is believed that
the company has no investments.
Financial Data
ProXES Holding GmbH
Consolidation: consolidated
Industry: Trade/Industry
Fiscal year end: 31.12.2016 31.12.2015 31.12.2014 31.12.2013
Number of months: 12 12 12 12
Currency: th.
EUR th. EUR th. EUR th. EUR
Balance Sheet
Intangible fixed assets 58,468.0 61,833.0 50,874.0 30,607.0
Land and buildings 10,500.0 10,921.0 8,467.0 416.0
Other tangible fixed assets 4,194.0 4,502.0 3,380.0 699.0
Tangible fixed assets 14,694.0 15,423.0 11,847.0 1,115.0
Financial fixed assets 741.0 720.0 600.0 579.0
other fixed assets 1,622.0 821.0 371.0 441.0
Fixed assets 75,525.0 78,797.0 63,692.0 32,742.0
Stocks 10,585.0 10,124.0 11,360.0 6,302.0
Trade accounts receivable 21,584.0 16,263.0 12,718.0 4,825.0
Cash & Cash Equivalents 18,343.0 18,166.0 9,068.0 8,170.0
Securities 3,507.0 75.0 32.0 28.0
other trade accounts 2,281.0 1,678.0 2,095.0 1,192.0
Other current assets 24,131.0 19,919.0 11,195.0 9,390.0
Current assets 56,300.0 46,306.0 35,273.0 20,517.0
Total assets 131,825.0 125,103.0 98,965.0 53,259.0
Capital 1,964.0 1,958.0 1,787.0 1,600.0
Other shareholders funds 23,604.0 15,924.0 16,206.0 16,075.0
Total shareholders equity 25,568.0 17,882.0 17,993.0 17,675.0
Minority interests 0.0 0.0
long term debt (financial debts) 48,572.0 54,351.0 37,058.0 14,222.0
Provisions 25,197.0 25,345.0 445.0 0.0
Other non current liabilities 20,638.0 11,297.0
Non current liabilities 73,769.0 79,696.0 58,141.0 25,519.0
short term debt (financial debts) 10,933.0 8,928.0 2,856.0 1,739.0
Trade accounts payable 12,767.0 11,012.0 9,930.0 3,414.0
Provisions 692.0 576.0 339.0 236.0
other accounts payable 8,096.0 7,009.0 9,706.0 4,676.0
other current liabilities 8,788.0 7,585.0 10,045.0 4,912.0
Current liabilities 32,488.0 27,525.0 22,831.0 10,065.0
Shareh. equity, min. int. & liabilities 131,825.0 125,103.0 98,965.0 53,259.0
Profit and loss account
Sales 111,868.0 96,266.0 48,045.0 24,641.0
Reduction of proceeds 3,305.0
Net sales 111,868.0 92,961.0 48,045.0 24,641.0
Other operating revenue 4,973.0 2,336.0 2,704.0 547.0
Operating revenue 116,841.0 95,297.0 50,749.0 25,188.0
Cost of goods sold 45,239.0 38,945.0 20,902.0 10,358.0
Gross profit 71,602.0 56,352.0 29,847.0 14,830.0
Other operating expenses 59,094.0 55,354.0 28,265.0 15,500.0
Operating result 12,508.0 998.0 1,582.0 -670.0
Interest revenues 1.0 1.0 1.0 13.0
other financial revenues 337.0 120.0 26.0 1.0
Financial income 338.0 121.0 27.0 14.0
Interest expenses 1,657.0 2,068.0 938.0 355.0
other financial expenses 1,907.0 2,236.0 1,250.0 702.0
Financial expenses 3,564.0 4,304.0 2,188.0 1,057.0
Financial result -3,226.0 -4,183.0 -2,161.0 -1,043.0
Result before extraordinary items 9,282.0 -3,185.0 -579.0 -1,713.0
Result before taxes 9,282.0 -3,185.0 -579.0 -1,713.0
Taxes 2,258.0 -88.0 575.0 -498.0
Result before minority interests 7,024.0 -3,097.0 -1,154.0 -1,215.0
minority interests 0.0 0.0
Result for the financial year 7,024.0 -3,097.0 -1,154.0 -1,215.0
Cash flow
Depreciation 5,226.0 4,817.0 2,555.0 1,316.0
Cash flow 12,250.0 1,720.0 1,401.0 101.0
Cash flow from operating activities 14,226.0 9,192.0 1,675.0 3,796.0
Investments in tangible fixed assets 864.0 1,231.0 274.0 125.0
Cash flow from investing activities -4,264.0 -16,945.0 -26,702.0 -29,790.0
Cash flow from financing activities -9,872.0 16,911.0 25,736.0 34,174.0
Others 87.0 -60.0 189.0 -10.0
Change in liquidity 177.0 9,098.0 898.0 8,170.0
Liquidity at beginning of the year 18,166.0 9,068.0 8,170.0 0.0
Liquidity at end of the year 18,343.0 18,166.0 9,068.0 8,170.0
Notes
Material costs 45,239.0 38,945.0 21,466.0 9,080.0
Cost of employees 33,574.0 30,808.0 14,472.0 7,507.0
Added value 49,739.0 34,508.0 17,386.0 7,465.0
Working Capital 19,402.0 15,375.0 14,148.0 7,713.0
Net Current Assets 23,812.0 18,781.0 12,442.0 10,452.0
Sales per Employee 265.7 222.4 198.5 198.7
Gross cost land and buildings 12,940.0 12,663.0
Gross cost other tangible fixed assets 4,157.0 5,261.0
Gross cost total 17,097.0 17,924.0
Employees at
year end 421 418 242 124
Financials
Balance sheet
publication:
The subject company
does not publish financial figures.
Legal Actions
Control date Year No. Amount CHF Status
13.02.2017 2017 0 Legal
actions
31.12.2016 2016 0 Legal
actions
31.12.2015 2015 0 Legal
actions
31.12.2014 2014 0 Legal
actions
08.08.2012 2012 0 Legal
actions
31.12.2011 2011 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.
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: Regular.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.89 |
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|
1 |
INR 88.60 |
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Euro |
1 |
INR 78.12 |
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CHF |
1 |
INR 66.28 |
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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VIV |
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Report Prepared
by : |
SYL |
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.