10 Other financial assets
Other financial assets amounted to CHF 10 million and included investments in associates with a carrying value of CHF 1 million as well as long-term loans and receivables of CHF 5 million (previous year: CHF 7 million).
Investments in associates
The investments in detail are as follows:
- –Chinaust Automotive GmbH, Düsseldorf (Germany)
- –WIBILEA AG, Neuhausen (Switzerland)
- –Eisenbergwerk Gonzen AG, Sargans (Switzerland)
- –Mecartex SA, Losone (Switzerland)
- –Georg Fischer Corys LLC, Dubai (United Arab Emirates)
- –Polytherm Central Sudamericana SA, Buenos Aires (Argentina)
- –Chinaust Automotive LLC, Troy, MI (USA)
- –Liechti (Shanghai) Engineering Co Ltd, Shanghai (China)
- –GF Machining Solutions Co Ltd, Hanoi (Vietnam)
Long-term loans and receivables
CHF 3 million of the long-term loans and receivables fall due in the next three years and CHF 2 million at a later date. Using translated values, CHF 4 million were lent in euros and CHF 1 million in UAE dirhams. The interest rates for the loans granted were around 6%.
Other financial assets also include long-term-invested securities for the settlement of pension liabilities in the amount of CHF 3 million (previous year: CHF 4 million).
