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DEUTZ supports Cologne inventors

(PresseBox) (Köln, ) For the first time the Cologne Innovation Prize is being been awarded under the name "Nicolaus August Otto Prize of the City of Cologne for Innovation"

This year DEUTZ AG in collaboration with the City of Cologne has for the first time supported inventive Cologne citizens with the "Nicolaus August Otto Prize of the City of Cologne for Innovation". The Cologne Innovation Prize, which the City of Cologne has already offered for the sixth time in 2008 and is now named "Nicolaus August Otto Prize", honours one of the greatest inventors of all times.

"A name, which could hardly be more appropriate," remarked Helmut Meyer, Head of Finance and Human Resources of the DEUTZ AG during the press conference in Cologne City Hall. "The thinking of Nicolaus August Otto was characterised by creativity, the quest for innovation, and the desire to simplify and change things," continued Meyer. The Cologne merchant Otto founded global motorisation in a small workshop in Cologne more than 140 years ago, thereby establishing the cornerstone for today's DEUTZ AG.

The Cologne Lord Mayor Fritz Schramma was also pleased with the co-operation. "Numerous success stories document impressively the authority available in Cologne for the development and realisation of research results and new technologies. The petrol engine was also developed in 1876 in Cologne based on the invention of Nicolaus August Otto, the Seite 2 von 2 name giver of this years Cologne Innovation Prize, thereby establishing the preconditions for motorised locomotion", continued Schramma.

Helmut Meyer, Head of Finance, stressed how the example of Nicolaus August Otto demonstrates how important it is to motivate and support creative inventors in their projects. Therefore DEUTZ AG decided to double the past prize money of 15.000 EUR, in order to also honour its company's founder. Helmut Meyer: "Our world is in motion - and every idea is the motor of our progress"

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