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MIRA INFORM REPORT
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Report No. : |
507628 |
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Report Date : |
10.05.2018 |
IDENTIFICATION DETAILS
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Name : |
EROWA AG |
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Registered Office : |
Winkelstrasse 8, 5734 Reinach/AG |
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Country : |
Switzerland |
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Year of Establishment : |
13.10.1970 |
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Com. Reg. No.: |
400.3.927.204-1 |
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Legal Form : |
Company Limited by Shares |
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Line of Business : |
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Manufacture of Tools. · The company engages in the development, production, consultation and distribution of modern manufacturing technology. The company has a complete gamut of products ranging from tooling systems to automation facilities and process control software for the entire chip-cutting metal industry. |
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No. of Employees : |
250-399 |
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 : |
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 (30.09.2017) |
Current Rating (31.12.2017) |
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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 gain access to the Union’s Single Market and enhance the country’s international competitiveness. Some trade protectionism remains, however, 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 economic instability in Russia and other eastern European economies drove 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 through 2017.
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.
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Source
: CIA |
Company name and address
EROWA AG
Operating address:
Winkelstrasse
8 Marketing
& Sales
5734 Reinach/AG Knutwilerstrasse
3
Switzerland/CH 6233
Büron/LU
Switzerland/CH
Telephone: +41
627650707 +41
419351111
Fax: +41
627650788 +41
419351213
Web site: http://www.erowa.com
E-mail: fertigungstechnik@erowa.com
WIN Worldbox No.: CH0000098241
VAT-No.: CHE-105.779.704
MWST
UID-No.: CHE105779704
Profile
Established: 1970
History: 1970: Established from Hans Hediger
Line of Business: Metal/steel
Industry Division: Manufacturing
Industry-code (NACE): 2573 Manufacture of Tools
Import/Export: Export
Quality certification: ISO
9001:2008 (since 1997)
Banks: UBS
Ltd
IRB
Interregio Bank Reinach
Operational
Figures
Coverage: Company
Figures: estimated
Financial year: 2017
Employees: 250-399
Sales: CHF
20-40 Mio
Activity
The company engages in the development,
production, consultation and distribution of modern manufacturing technology.
The company has a complete gamut of products ranging from tooling systems to
automation facilities and process control software for the entire chip-cutting
metal industry.
Operations and Branches:
At the address, Winkelstrasse 8, 5734 Reinach,
Switzerland, we find the company's office.
Real
Estate
Real Estate: It is
understood that the company owns certain property.
Company
Register
Company No: 400.3.927.204-1
UID-No.: CHE105779704
Legal form: Company
limited by shares
Registration: 13.10.1970
Legal status: Active
Responsible Register: Handelsregister
des Kantons Aargau
History: Date
of Incorporation Statutes: 21.09.1970
Date
of Statutes: 04.10.2017
Entry Deleted Name
18.10.2017 EROWA
AG
18.10.2017 Erowa AG
Entry Deleted Legal domicile
active Reinach
(AG), Switzerland
Entry Deleted Address
active Winkelstrasse
8, 5734 Reinach, Switzerland/CH
Entry Deleted Capital
active Share
Capital CHF 60,000, paid up CHF 60,000
Entry Deleted Capital Structure
active 60
Registered shares of CHF 1,000.--
Entry Deleted Branches
10.07.2003 Knutwilerstrasse
3, 6233 Büron/LU, Switzerland/CH
Official
Administration
Title Name
President Hediger-Jacober,
Hans
Citizen: Reinach
AG, Switzerland
Residential
address: Malta
single
signature
Director Kurt,
Hans Ulrich
Citizen: Walliswil bei Wangen, Switzerland
Residential
address: Kriegstetten, Switzerland
joint
signature of two
Registered
since: 09.05.2014
Director Ries,
Beat
Citizen:
Aarau, Pfungen, Switzerland
Residential
address: 5000 Aarau/AG, Switzerland
without
signature
Registered
since: 11.12.2007
Management
Title Name
General Manager Neeser,
Stephan
Citizen:
Schlossrued, Switzerland
Residential
address: 5040 Schöftland/AG, Switzerland
joint
signature of two
Member with procuration Fehlmann,
Marc
joint
power of attorney of two
Member with procuration Furrer, Franca
Citizen:
Schwarzenbach bei Beromünster, Switzerland
Residential
address: Menziken, Switzerland
joint
power of attorney of two
Registered
since: 26.01.1994
External
Positions
Title Name
Auditor AWB
Revisionen AG,
Residential
address: Aarau, Switzerland
Id:
CHE-110.051.732
Registered
since: 18.06.2009
Executive
board
Title Name
Chief Executive Officer Hediger-Jacober,
Hans
Chief Sales Officer Neeser,
Stephan
Chief Accounting Officer Fehlmann,
Marc
Ultimate
Parent Company
Name: ORENDA
Holding AG
City/Country: Reinach
AG/AG, Switzerland/CH
Direct
owner/-s
No. of owner/-s: 1
Owner: The
company is domestic owned.
Class: 100%,
directly held
Name: ORENDA
Holding AG
City/Country: Reinach
AG/AG, Switzerland/CH
Interest: 100,00%
voting right, 100,00% capital interest (since 1970)
Investments
Class: 50-100%,
directly held
Name: Erowa
Distribution France
City/Country: Annecy,
France/FR
Interest: 50,01%
voting right, 50,01% capital interest
Sisters
Name: AMTEC
Operating Corporation
City/Country: Arlington
Heights/Illinois, United States of America/US
Name: Certa
AG
City/Country: Reinach
AG/AG, Switzerland/CH
Name: Erowa
Distribution France Sarl
City/Country: Annecy-le-Vieux,
France/FR
Name: EROWA
Nippon Ltd
City/Country: Tokyo,
Japan/JP
Name: EROWA
Nordic AB
City/Country: Spanga,
Sweden/SE
Name: EROWA
SOUTH EAST ASIA PTE LTD
City/Country: Singapore,
Singapore/SG
Name: EROWA
System Technologien GmbH
City/Country: Cadolzburg/Bayern,
Germany/DE
Name: EROWA
Technologie Srl
City/Country: Alpignano/Torino,
Italy/IT
Name: EROWA
Technology Iberica SL
City/Country: Barcelona,
Spain/ES
Name: Erowa
Technology Inc
City/Country: Arlington
Hights/Ilinois, United States of America/US
Name: EROWA
Technology (Shanghai) Co Ltd
City/Country: Shanghai,
China/CN
Name: Ryna
Ltd
City/Country: Dublin,
Ireland/IE
Financials
Balance sheet publication:
The subject company does not publish financial
figures.
Legal
Actions
Control
date Year No. Amount
CHF Status
25.10.2016 2016 0 Legal actions
31.12.2015 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
31.12.2009 2009 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.
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 is difficult to assess.
Payment experiences: Payment
habits are considered good.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 67.38 |
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1 |
INR 91.09 |
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Euro |
1 |
INR 79.75 |
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CHF |
1 |
INR 67.03 |
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 : |
NIT |
RATING EXPLANATIONS
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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
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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.