3decades

MIRA INFORM REPORT

Report No. :	509204
Report Date :	18.05.2018

IDENTIFICATION DETAILS

Name :	HEINRICH GEORG GMBH MASCHINENFABRIK

Registered Office :	Langenauer Str. 12 D 57223 Kreuztal

Country :	Germany

Financials (as on) :	31.12.2016

Date of Incorporation :	20.06.1948

Com. Reg. No.:	HRB 2004

Legal Form :	Private Limited Company

Line of Business :	· Manufacture of other special-purpose machinery n.e.c. · Other retail sale in specialized stores n.e.c.

No. of Employees :	470

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+	Low Risk	Business dealings permissible with low risk of default

Status :	Good

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

(30.09.2017)

Current Rating

(31.12.2017)

Germany

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 economic 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 2017 Germany reached a budget surplus of 0.7%. 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, investment, and exports are likely to drive German GDP growth in 2018, and the country’s budget and trade surpluses are likely to remain high.

Source : CIA

Company name and address

Heinrich Georg GmbH Maschinenfabrik

Company Status: active

Langenauer Str. 12

D 57223 Kreuztal

Post Box:

12 40, D 57203 Kreuztal

Telephone:02732/7790

Telefax: 02732/779340

Homepage: www.georg.com

E-mail: georg@georg.com

VAT no.: DE811183720

Tax ID number: 342/5873/0582

LEGAL FORM Private limited company

Date of foundation: 20.06.1948

Shareholders'

agreement: 09.12.1978

Registered on: 28.12.1978

Commercial Register: Local court 57072 Siegen

under: HRB 2004

Share capital: EUR 4,800,000.00

Shareholder:

Gerd Georg

In der Molzkaute 32

D 57223 Kreuztal

born: 03.05.1944 in Siegen

Share: EUR 1,776,000.00

Shareholder:

Bianca Hähner-Patt

In der Försterwiese 15

D 57223 Kreuztal

born: 26.05.1973 in Siegen

née: Patt

Share: EUR 792,000.00

Shareholder:

Tanja Ischebeck

Titlisstr. 52

CH 80321 Zürich

born: 06.08.1975 in Siegen

née: Patt

Share: EUR 792,000.00

Shareholder:

Renate Patt

Auf der Schlenke 18

D 57223 Kreuztal

born: 25.07.1948 in Siegen

née: Georg

Share: EUR 480,000.00

Shareholder:

Mark Georg

D 83708 Kreuth

born: 20.12.1972 in Siegen

Share: EUR 384,000.00

Shareholder:

Jörg Georg

Am Stutzemer 33

D 51647 Gummersbach

born: 16.12.1969 in Siegen

Share: EUR 384,000.00

Shareholder:

Heinz Otto Georg

504 Pond View Lnad Hunt Valley

USA 21030 Maryland

born: 10.04.1979

Share: EUR 192,000.00

Manager:

Mark Georg

D 83708 Kreuth

having sole power of representation

born: 20.12.1972 in Siegen

Profession: Businessman

Proxy:

Thomas Kleb

D 57072 Siegen