Exhibit 10.29
[Execution]
AMENDMENT NO. 5 AND CONSENT
TO
LOAN AND SECURITY AGREEMENT
October 1, 2004
Congress Financial Corporation (Southern)
▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇ ▇▇▇▇▇
Re: Loan and Security Agreement, dated October 11, 2000
Ladies and Gentlemen:
Congress Financial Corporation (Southern) ("Lender") and Valentec ▇▇▇▇▇,
LLC, formerly known as Valentec International Corporation, LLC ("Valentec"),
Safety Components Fabric Technologies, Inc. ("SCFT"), Automotive Safety
Components International, Inc. ("Automotive International"), Automotive Safety
Components International GmbH & Co. KG ("German Borrower"), Automotive Safety
Components International Limited ("UK Borrower" and together with Valentec,
SCFT, Automotive International and German Borrower, individually each a
"Borrower" and collectively, "Borrowers"), Safety Components International, Inc.
("Safety"), ASCI Holdings Germany (DE), Inc. ("ASCI Germany"), ASCI Holdings
U.K. (DE), Inc. ("ASCI UK"), ASCI Holdings Mexico (DE), Inc. ("ASCI Mexico"),
ASCI Holdings Czech (DE), Inc. ("ASCI Czech"), Automotive Safety Components
International, S.A. de C.V. ("Automotive Safety Mexico") and Automotive Safety
Components International s.r.o. ("Automotive Safety Czech" and together with
Safety, ASCI Germany, ASCI UK, ASCI Mexico, ASCI Czech and Automotive Safety
Mexico, each individually a "Guarantor" and collectively, "Guarantors") have
entered into financing arrangements pursuant to which Lender has made and may
make loans and advances to Borrowers as set forth in the Loan and Security
Agreement, dated October 11, 2000, by and among Lender, Borrowers and
Guarantors, as amended by Amendment No. 1 and Consent to Loan and Security
Agreement, dated as of November 2, 2001, Amendment No. 2 to Loan and Security
Agreement, dated as of October 11, 2002, Amendment No. 3 and Consent to Loan and
Security Agreement, dated as of October 8, 2003, and Amendment No. 4 to Loan and
Security Agreement, dated as of July 20, 2004 (as the same now exists or may
hereafter be amended, modified, supplemented, extended, renewed, restated or
replaced, the "Loan Agreement") and other agreements, documents and instruments
referred to therein or at any time executed and/or delivered in connection
therewith or related thereto, together with this Amendment (all of the
foregoing, including the Loan Agreement, as
the same now exist or may hereafter be amended, modified, supplemented,
extended, renewed, restated or replaced, being collectively referred to herein
as the "Financing Agreements"). All capitalized terms used herein shall have the
meaning assigned thereto in the Loan Agreement, unless otherwise defined herein.
Borrowers and Guarantors have requested that Lender (i) consent to the
purchase by German Borrower of seventy-five (75%) percent of the shares of a
limited liability company organized under the laws of the Republic of South
Africa and expected to be renamed Automotive Safety Components International GT
(Proprietary) Limited ("Safety South Africa" as hereinafter further defined),
the other 25% of the shares of which will be purchased by KAP Textile Holdings
SA Ltd. ("Gelvenor") and which, prior to the purchase of such shares by German
Borrower and Gelvenor, has no assets or liabilities and has not engaged in any
business, (ii) consent to the transfer by German Borrower to Safety South Africa
of certain equipment and parts described on Exhibit A hereto (the "Safety SA
Equipment"), and (iii) agree to amend the Loan Agreement to, among other things,
provide for certain investments by Borrowers and Guarantors in Automotive Safety
South Africa.
Lender is willing to agree to such requests subject to the terms and
conditions contained herein.
In consideration of the forgoing and the agreements and covenants
contained herein, and for other good and valuable consideration, the adequacy
and sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:
1. Consent. Subject to the terms and conditions contained herein,
notwithstanding anything to the contrary set forth in Sections 8.1, 7.4(e),
9.7(c), or 9.10 of the Loan Agreement, Lender hereby consents to (a) the
purchase of seventy-five (75%) percent of the shares of Safety South Africa, (b)
the cash investment by German Borrower in Safety South Africa of up to the US
Dollar Equivalent of $5,000, and (c) the transfer by German Borrower to Safety
South Africa of title to the Safety SA Equipment, the relocation of the Safety
SA Equipment to South Africa and the contribution in kind of up to the US Dollar
equivalent of (euro) 324,021 in respect of the shipping of the Safety SA
Equipment, the assembling of the Safety SA Equipment at the plant of Safety
South Africa, the establishing of the production process, certain know-how for
the manufacturing, marketing and distribution of airbags, initial management,
technical support and legal support (legal fees); provided, that, (i) the
actions contemplated by clauses (a) and (b) shall have occurred by no later than
October 15, 2004 and (ii) as to each transfer of title to the Safety SA
Equipment by German Borrower to Safety South Africa and the relocation of such
Safety SA Equipment to a premises of Safety South Africa which may occur from
time to time after the date hereof, the following conditions have been
satisfied: (A) Safety shall provide notice to Lender within ten (10) Business
Days after the later to occur of the transfer of title and relocation of any of
the Safety SA Equipment, (B) all such transfers shall have been completed by no
later than December 31, 2006 and (C) as of the date of any proposed transfer of
title or relocation and after giving effect thereto, no Event of Default or act,
condition or event which with notice or passage of time or both would constitute
an Event of Default shall exist or have occurred.
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2. Amendments.
(a) Definitions.
(i) Amendments to Definitions. The definition of "Subsidiary"
in Section 1.109 of the Loan Agreement is hereby amended by deleting the
following proviso "provided, that, the term Subsidiary shall not include Safety
Asia, Safety HK, or Safety Romania, or any subsidiary of any of them" at the end
of such definition and replacing it with the following: "provided, that, the
term Subsidiary shall not include Safety Asia, Safety HK, Safety Romania, or
Safety South Africa, or any subsidiary of any of them".
(ii) Additional Definitions. The following terms shall have
the meanings given to them below and the Loan Agreement shall be deemed and is
hereby amended to include, in addition and not in limitation, the following
definitions:
(A) "Amendment No. 5" shall mean Amendment No. 5 and
Consent to Loan and Security Agreement, dated October 1, 2004, by and among
Lender, Borrowers and Guarantors.
(B) "Gelvenor" shall mean KAP Textile Holdings SA Ltd.
(formerly named Da Gama Textiles Company Limited), a company organized under the
laws of the Republic of South Africa, and its successors and assigns.
(C) "Safety SA Equipment" shall mean the Equipment to be
transferred by German Borrower to Safety South Africa after the date hereof
listed on Exhibit A hereto.
(D) "Safety South Africa" shall mean the limited
liability company organized under the laws of the Republic of South Africa and
expected to be named Automotive Safety Components International GT (Proprietary)
Limited, and its successors and assigns.
(E) "Safety SA Shareholders' Agreement" shall mean the
Shareholders' Agreement, dated on or after the date hereof, by and among
Gelvenor, German Borrower and any additional shareholders in Safety South
Africa, as the same may hereafter be amended, modified, supplemented, extended,
renewed, restated or replaced.
(b) Loans, Investments and Guarantees.
(i) Section 9.10 of the Loan Agreement is hereby amended by
deleting clause (m) of such Section in its entirety and replacing it with the
following:
"(m) notwithstanding anything to the contrary set forth in the June
2004 Consent, unsecured loans by any Borrower or Guarantor to Automotive
Safety Czech, Automotive Safety Mexico, Safety Asia, Safety HK, Safety
Romania, and Safety South Africa, provided, that, as to any such loan,
each of the following
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conditions is satisfied as determined by Lender in good faith: (i) each
month Borrowers and Guarantors shall provide to Lender a report in form
and substance satisfactory to Lender of the amount of such loans made in
the immediately preceding month, any repayments in connection therewith
and the outstanding amount thereof as of the last day of the immediately
preceding month, (ii) the Indebtedness arising pursuant to any such loan
shall not be evidenced by a promissory note or other instrument, unless,
the single original of such note or other instrument is delivered to
Lender to hold as part of the Collateral, with such endorsement and/or
assignment by the payee of such note or other instrument as Lender may
require, (iii) as of the date of the making of such loan and after giving
effect thereto, the Borrower or Guarantor making such loan is and shall be
Solvent, (iv) if the loan is made by a Borrower, as of the date of the
making of such loan and after giving effect thereto, the weekly average
Excess Availability of the Borrower making such loan for each of the
immediately preceding four weeks shall have been not less than the US
Dollar Equivalent of US$1,000,000, (v) such loans are permitted under the
laws and regulations applicable to each such Borrower or Guarantor and the
recipient of any such loans, (vi) as of the date of the making of such
loan and after giving effect thereto, no Event of Default or act,
condition or event which with notice or passage of time or both would
constitute an Event of Default shall exist or have occurred, (vii) as of
the date of the making of such loan and after giving effect thereto, the
aggregate weekly average Excess Availability of all US Borrowers for each
of the immediately preceding four weeks shall have been not less than the
US Dollar Equivalent of US$5,000,000, (viii) the amount of all such loans
to Automotive Safety Czech, Automotive Safety Mexico, Safety Asia, Safety
HK, Safety Romania, and Safety South Africa shall not exceed $10,000,000
in the aggregate and (ix) as of the date of the making of such loan,
Adjusted Pre-Tax Income of the Borrower or Guarantor making such loan for
each of the two most recently ended fiscal quarters shall have been
greater than zero;"
(ii) Section 9.10 of the Loan Agreement is hereby amended by
(a) deleting the period at the end of clause (t) thereof and replacing it with
"; and" and (b) adding at the end of such Section a new clause (u) as follows:
"(u) unsecured loans by Safety South Africa to German Borrower made
after the date of Amendment No. 5 in the amount of the excess cash flow of
Safety South Africa made at such times and as determined pursuant to the
Safety SA Shareholders' Agreement (as in effect on the date delivered to
Lender pursuant to Section 6 of Amendment No. 5); provided, that, as to
any such loan, each of the following conditions is satisfied as determined
by Lender: (i) the Indebtedness arising pursuant to such loan is subject
to, and subordinate in right of payment to, the right of Lender to receive
the prior indefeasible payment and satisfaction in full of all of the
Obligations on terms and conditions acceptable to Lender, (ii) Lender
shall have received, in form and substance satisfactory to Lender, the
Safety SA Shareholders' Agreement (as in effect on the date delivered to
Lender
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pursuant to Section 6 of Amendment No. 5) and a subordination agreement
providing for the terms of the subordination in right of payment of such
Indebtedness of German Borrower to the prior final payment and
satisfaction in full of all of the Obligations, duly authorized, executed
and delivered by Safety South Africa and German Borrower, (iii) German
Borrower shall not amend, modify, alter or change the terms of the Safety
SA Shareholders' Agreement (as in effect on the date delivered to Lender
pursuant to Section 6 of Amendment No. 5) and the terms of such loans made
pursuant thereto, (iv) German Borrower shall not, directly or indirectly
make, or be required to make, any principal payments in respect of such
Indebtedness; provided, that, if, following the end of any fiscal year of
Safety South Africa, the shareholders of Safety South Africa determine, in
accordance with the procedures established in the Safety SA Shareholders'
Agreement (as in effect on the date delivered to Lender pursuant to
Section 6 of Amendment No. 5), that any portion of the loans made by
Safety South Africa to German Borrower during such fiscal year must be
repaid by German Borrower (any such amount, the "Repayment Amount"),
German Borrower may pay to Safety South Africa the Repayment Amount so
long as (A) such payment is made within thirty (30) days of the end of
each fiscal year of Safety South Africa, (B) as of the date of the making
of such payment and after giving effect thereto, the aggregate weekly
average Excess Availability of all US Borrowers for each of the
immediately preceding four weeks shall have been not less than the US
Dollar Equivalent of US$5,000,000, (C) as of the date of the making of
such payment and after giving effect thereto, the aggregate weekly average
Excess Availability of German Borrower for each of the immediately
preceding four weeks shall have been not less than the US Dollar
Equivalent of US$500,000, (D) on or before the date of such payment,
German Borrower shall furnish to Lender, evidence, in form and substance
satisfactory to Lender, that the amount of the loans made by Safety South
Africa to German Borrower in such fiscal year (other than the Repayment
Amount) are deemed by Safety South Africa to be cancelled, discharged and
paid in full, and (E) as of the date of the making of such payment and
after giving effect thereto, no Event of Default of act, condition or
event which with notice or passage of time or both would constitute an
Event of Default shall exist of have occurred, (v) each month, German
Borrower shall provide to Lender a report in form and substance
satisfactory to Lender of the amount of such loans made in the immediately
preceding month, any repayments in connection therewith and the
outstanding amount thereof as of the last day of the immediately preceding
month, (vi) Indebtedness arising pursuant to such loans shall not be
evidenced by a promissory note or other instrument, unless the single
original of such note or other instrument is delivered to Lender to hold
as part of the Collateral, with such endorsement and/or assignment by the
payee of such note or other instrument as Lender may require, and (vii)
within thirty (30) days of the end of any fiscal year of Safety South
Africa, unless delivered to Lender pursuant to clause (iii)(D) above,
German Borrower shall furnish to Lender, evidence, in form and substance
satisfactory to Lender, that the amount of the loans made by Safety South
Africa to German Borrower in such fiscal year (other
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than any Repayment Amount) are deemed by Safety South Africa to be
cancelled, discharged and paid in full."
3. Representations, Warranties and Covenants. Each Borrower and Guarantor,
jointly and severally, represents, warrants and covenants with and to Lender as
follows, which representations, warranties and covenants are continuing and
shall survive the execution and delivery hereof, the truth and accuracy of, or
compliance with each, together with the representations, warranties and
covenants in the other Financing Agreements, being a continuing condition of the
making or providing of any Loans or Letter of Credit Accommodations by Lender to
Borrowers:
(a) neither the execution and delivery of this Amendment, or the
documents, agreements or instruments executed or delivered in connection
therewith or related thereto (collectively, together with this Amendment, the
"Amendment Documents") nor the consummation of the transactions herein or
therein contemplated, nor compliance with the provisions hereof or thereof are
in contravention of any law or regulation or any order or decree of any court or
Governmental Authority applicable to Borrowers or Guarantors or any of their
respective Subsidiaries in any respect, or conflict with or result in the breach
of, or constitutes a default in any respect under any mortgage, deed of trust,
security agreement, agreement or instrument to which any Borrower or Guarantor
is a party or may be bound, or violates any provision of the Certificate of
Incorporation or By-Laws (or similar organizational documents) of any Borrower
or Guarantor;
(b) the Amendment Documents have been duly authorized, executed and
delivered by all necessary action on the part of each Borrower and Guarantor
which is a party hereto and thereto and, if necessary, their respective equity
holders, and the agreements and obligations of each Borrower and Guarantor
contained herein and therein constitute legal, valid and binding obligations of
each Borrower and Guarantor enforceable against such entities in accordance with
their respective terms, except as such enforceability may be limited by
bankruptcy, insolvency, moratorium or similar laws limiting creditors' rights
generally and by general equitable principles;
(c) no consent, approval or other action of, or filing with or
notice to any Governmental Authority is required in connection with the
execution, delivery and performance of any of the Amendment Documents by any
Borrower or Guarantor;
(d) all of the representations and warranties set forth in the Loan
Agreement and the other Financing Agreements, each as amended hereby, are true
and correct in all material respects on and as of the date hereof as if made on
the date hereof, except to the extent any such representation or warranty is
made as of a specified date, in which case such representation or warranty shall
have been true and correct as of such date;
(e) prior to the date on which each of German Borrower and Gelvenor
have purchased the shares in Safety South Africa contemplated by the Safety SA
Shareholders'
- ▇ -
▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ has no assets or liabilities and has not engaged
in any business activities or other activities;
(f) Safety, Automotive International, ASCI Germany and German
Borrower each represent that Safety South Africa and any of its subsidiaries
shall not engage in any business other than the businesses of Safety and its
Subsidiaries on the date hereof and any businesses reasonably related, ancillary
or complementary to the businesses in which Safety and its Subsidiaries are
engaged on the date hereof which businesses shall be operated by Safety South
Africa and any of its subsidiaries in the Republic of South Africa, and upon
reasonable request by Lender, Borrowers and Guarantors shall provide Lender
information with respect to the assets, liabilities, obligations or operations
of Safety South Africa and any of its subsidiaries, including but not limited to
any tax returns filed by or on behalf of Safety South Africa and any of its
subsidiaries in any jurisdiction;
(g) as of the date on which each of German Borrower and Gelvenor
have purchased the shares in Safety South Africa contemplated by the Safety SA
Shareholders' Agreement, German Borrower shall own seventy-five (75%) percent of
Safety South Africa and Gelvenor shall own twenty-five (25%) percent;
(h) the net book value of the Safety SA Equipment is set forth on
Exhibit A hereto;
(i) Borrowers and Guarantors have delivered to Lender true, correct
and complete copies of the Amendment Documents;
(j) Safety, Automotive International, ASCI Germany and German
Borrower shall provide Lender with fifteen (15) days prior written notice of the
formation of any subsidiaries of Safety South Africa or any of its subsidiaries
and shall provide Lender with such other further information as Lender shall
reasonably request with respect thereto; and
(k) no Event of Default or act, condition or event which with notice
or passage or time or both would constitute an Event of Default, exists or has
occurred and is continuing after giving effect to the provisions hereof.
4. Amendment Fee. In consideration of the amendments set forth herein,
Borrowers shall on the date hereof, pay to Lender, and Lender may, at its
option, charge the account of Borrowers maintained by Lender, a fee in the
amount of $5,000, which fee shall constitute part of the Obligations and is
fully earned and payable on the date hereof.
5. Conditions Precedent. The amendments set forth herein shall be
effective upon the satisfaction of each of the following conditions precedent in
a manner satisfactory to Lender:
(a) Lender shall have received an original of this Amendment, duly
authorized, executed and delivered by Borrowers and Guarantors;
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(b) all requisite corporate action and proceedings in connection
with this Amendment and the other Amendment Documents shall be in form and
substance satisfactory to Lender, and Lender shall have received all information
and copies of all documents, including records of requisite corporate action and
proceedings which Lender may have requested in connection therewith, such
documents where requested by Lender or its counsel to be certified by
appropriate corporate officers or governmental authorities;
(c) Lender shall have received payment in full of the outstanding
principal amount of the Term Loan made by Lender to German Borrower, plus all
interest, costs, expenses and other charges payable under the charges payable
under the Loan Agreement in connection therewith;
(d) Lender shall have received the fee referred to in Section 4
hereof;
(e) no Event of Default or act, condition or event which with notice
or passage of time or both would constitute an Event of Default shall exist or
have occurred and be continuing after giving effect to the provisions hereof;
(f) Lender shall have received a true and correct copy of any
consent, waiver or approval to or of this Amendment or any of the other
Amendment Documents, which any Borrower or Guarantor is required to obtain from
any other Person, and such consent, approval or waiver shall be in form and
substance satisfactory to Lender; and
(g) the aggregate Excess Availability of Borrowers as determined by
Lender, as of the effective date of this Amendment, shall be not less than US
Dollar Equivalent of US$10,000,000 after giving effect to the transactions
contemplated hereunder.
6. Additional Items To Be Delivered. Each Borrower and Guarantor hereby
agrees that, in addition to all other terms, conditions and provisions set forth
in the other Financing Agreements, Borrowers and Guarantors shall deliver or
cause to be delivered to Lender, in form and substance satisfactory to Lender,
as soon as possible, but in any event by no later than (a) October 31, 2004, a
written description of any potential tax liability under the Federal Republic of
Germany and the Republic of South Africa as a result of the loans and any
payments made with respect thereto under Section 9.10(u) of the Loan Agreement,
and (b) December 31, 2004, (i) true, correct and complete copies of the Articles
of Association of Safety South Africa, (ii) Safety SA Shareholders' Agreement,
and (iii) the Subordination Agreement, duly authorized, executed and delivered
by Safety South Africa in favor Lender.
7. General.
(a) Effect of this Amendment. Except as expressly provided herein,
no other changes or modifications to the Financing Agreements are intended or
implied, and in all other respects the Financing Agreements are hereby
specifically ratified, restated and confirmed by all parties hereto as of the
date hereof. To the extent any conflict exists between the terms of this
Amendment and the Financing Agreements, the terms of this Amendment shall
control.
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(b) Additional Events of Default. The parties hereto acknowledge,
confirm and agree that the failure of Borrowers or Guarantors to comply with the
covenants, conditions and agreements contained herein and the failure of Safety
South Africa to comply with the Subordination Agreement to be delivered pursuant
to Section 6 hereof, shall, in each case, constitute an Event of Default under
the Financing Agreements subject to the cure period set forth in Section
10.1(a)(ii) of the Loan Agreement.
(c) Further Assurances. The parties hereto shall execute and deliver
such additional documents and take such additional actions as may be necessary
to effectuate the provisions and purposes of this Amendment.
(d) Governing Law. The rights and obligations hereunder of each of
the parties hereto shall be governed by and interpreted and determined in
accordance with the internal laws of the State of New York (without giving
effect to principles of conflicts of laws or other rules of law that would
result in the application of the law of any jurisdiction other than the State of
New York).
(e) Binding Effect. This Amendment is binding upon and shall inure
to the benefit of Lender, Borrowers, Guarantors and their respective successors
and assigns. Any amendment contained herein shall not be construed to constitute
an amendment to any other or further action by Borrowers or Guarantors or to
entitle Borrowers or Guarantors to any other amendment. The Loan Agreement and
this Amendment shall be read and construed as one agreement.
(f) Counterparts, etc. This Amendment may be executed in one or more
counterparts, each of which when so executed shall be deemed to be an original
but all of which when taken together shall constitute one and the same
instrument. In making proof of this Amendment, it shall not be necessary to
produce or account for more than one counterpart hereof signed by each of the
parties hereto. This Amendment may be executed and delivered by telecopier with
the same force and effect as if it were a manually executed and delivered
counterpart.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed and delivered by their respective duly authorized officers as of
the date first written above.
SAFETY COMPONENTS FABRIC
TECHNOLOGIES, INC.
By:
---------------------------------------
Title:
------------------------------------
AUTOMOTIVE SAFETY COMPONENTS
INTERNATIONAL, INC.
By:
---------------------------------------
Title:
------------------------------------
AUTOMOTIVE SAFETY COMPONENTS
INTERNATIONAL GmbH & CO. KG
By:
---------------------------------------
Title:
------------------------------------
AUTOMOTIVE SAFETY COMPONENTS
INTERNATIONAL LIMITED
By:
---------------------------------------
Title:
------------------------------------
VALENTEC ▇▇▇▇▇, LLC (formerly known
as Valentec International Corporation, LLC)
By:
---------------------------------------
Title:
------------------------------------
[SIGNATURES CONTINUED ON NEXT PAGE]
[SIGNATURES CONTINUED FROM PREVIOUS PAGE]
SAFETY COMPONENTS INTERNATIONAL, INC.
By:
---------------------------------------
Title:
------------------------------------
ASCI HOLDINGS GERMANY (DE), INC.
By:
---------------------------------------
Title:
------------------------------------
ASCI HOLDINGS U.K. (DE), INC.
By:
---------------------------------------
Title:
------------------------------------
ASCI HOLDINGS MEXICO (DE), INC.
By:
---------------------------------------
Title:
------------------------------------
ASCI HOLDINGS CZECH (DE), INC.
By:
---------------------------------------
Title:
------------------------------------
AUTOMOTIVE SAFETY COMPONENTS
INTERNATIONAL, S.A. de C.V.
By:
---------------------------------------
Title:
------------------------------------
[SIGNATURES CONTINUED ON NEXT PAGE]
[SIGNATURES CONTINUED FROM PREVIOUS PAGE]
AUTOMOTIVE SAFETY COMPONENTS
INTERNATIONAL S.R.O.
By:
---------------------------------------
Title:
------------------------------------
AGREED:
CONGRESS FINANCIAL CORPORATION
(SOUTHERN)
By:
-----------------------------------
Title:
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Exhibit A
to
Amendment No. 5
Safety SA Equipment
--------------------------------------------------------------------------------
Net Book
Program Asset No. Description Value
in EUR
--------------------------------------------------------------------------------
30-008 laser cutter; Lectra Focus 10 241,173
--------------------------------------------------------------------------------
SAB VW2 gluing machine 5,000
0771B screen printer 5,000
23-1003 hot press 1,500
49-025 1-N DSST CNC BAS 370 3,000
--------------------------------------------------------------------------------
PAB Ford C307 (40F) 49-016 CNC machine 00784 10,000
49-1027 2N lock stitch manual 3,000
▇▇-▇▇▇ ▇▇ Flatbed Manual 4,500
▇▇-▇▇▇ ▇▇ Flatbed Manual 4,500
46-1016 2N Post Manual 4,500
▇▇-▇▇▇ ▇▇ Post Manual 4,500
folding table 5,000
--------------------------------------------------------------------------------
SAB Ford C307 43-1002 1N CNC Brother BAS342E 15,000
41-1031 2 needle DSST manual 6,000
42-613 1N CNC machine 5,000
--------------------------------------------------------------------------------
DAB Ford C307 49-1001 1-N DSST CNC Mitsubishi 18,000
2516
41-1023 2-N DKST manual DA 195 5,000
49-034 1-N DSST CNC Brother 10,000
--------------------------------------------------------------------------------
SAB VW2 printing screen 2,000
sewing jigs & tables 8,000
PC scanner 2,000
installation 6,000
----------
18,000
--------------------------------------------------------------------------------
PAB Ford C307 (40F) sewing jigs & tables 14,000
machine repair 8,000
folding tables 6,000
PC scanner 2,000
metal detector 10,000
installation 10,000
----------
50,000
--------------------------------------------------------------------------------
SAB Ford C307 sewing jigs & tables 1,000
PC scanner 2,000
installation 2,000
----------
5,000
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Net Book
Program Asset No. Description Value
in EUR
--------------------------------------------------------------------------------
DAB Ford C307 sewing jigs & tables 4,000
machine repair 10,000
PC scanner 5,000
installation 2,000
----------
19,000
--------------------------------------------------------------------------------
PAB BMW E90 sewing jigs & tables 3,000
new sewing machines 78,000
PC scanner 2,000
installation 10,000
----------
93,000
--------------------------------------------------------------------------------
DAB BMW E90 sewing jigs & tables 9,000
new sewing machines 52,000
PC scanner 2,000
installation 10,000
----------
73,000
--------------------------------------------------------------------------------
SAB ▇▇ ▇▇▇▇▇▇ sewing jigs & tables 2,000
new sewing machines 46,000
PC scanner 2,000
metal detector 10,000
installation 10,000
----------
70,000
--------------------------------------------------------------------------------
PAB ▇▇ ▇▇▇▇▇▇ sewing jigs & tables 2,000
new sewing machines 204,000
PC scanner 2,000
installation 10,000
----------
218,000
--------------------------------------------------------------------------------
spare parts:
--------------------------------------------------------------------------------
laser cutter laser gas (for 6 to 8 months) 700
--------------------------------------------------------------------------------
laser cutter mirrors, transmission,
other spare parts 12,000
--------------------------------------------------------------------------------
spare part-pack between
sewing line EUR 750 and EUR 1,500
per line 8,000
--------------------------------------------------------------------------------
TOTAL: 917,373
--------------------------------------------------------------------------------