Nabaltec AG in finals of "Entrepreneur of the Year 2008" competition
Ernst & Young honored top economic performances with renowned prize
"Ernst & Young thus honors entrepreneurial commitment and sustained growth with the title Entrepreneur of the Year." "We are pleased that we reached the finals of this renowned competition. Yet we see this not only as a personal achievement, but also as recognition of our employees' performance", commented Gerhard Witzany, Member of the Management Board of Nabaltec AG. Nabaltec AG was honored subsequently at the company's headquarters in Schwandorf on 24 November 2008.
The best small and medium-sized enterprises are combating the rising fears brought on by the economic slowdown with above-average growth. "As a group, the 65 finalist businesses earned revenue of EUR 10 billion this past year", Glauner said. This formidable economic power is clearly tangible on the labor market: The enterprises reaching the finals employed around 48,000 persons and created nearly 6,000 new jobs last year. Nabaltec AG, for example, also managed to increase its revenue by around 23.0% from 2006 to 2007, its number of employees increasing by 9.0% to 303 persons in that period.
The 65 honoree enterprises stemmed from 12 federal states, many from the south of Germany: 16 finalists were from Baden-Wuerttemberg, 14 from Bavaria. Ten came from Hesse, ten from North Rhine-Westphalia and a total of 9 from the new federal states and Berlin.
For 12 years, Ernst & Young has held the "Entrepreneur of the Year" competition in Germany. The nominated enterprises passed a challenging, multi-phase screening. An independent jury consisting of top academics and business people selected the prize winners in five categories: Trade, Industry, Services, Information and Communications Technology/Media and Start-Ups.
About the "Entrepreneur of the Year" Competition
Ernst & Young organizes the "Entrepreneur of the Year" competition worldwide in 50 countries. In Germany, the prize was awarded for the twelfth time in 2008. Top entrepreneurial performances are identified and honored with the prize. A neutral jury, consisting of academics and business persons, select the "Entrepreneur of the Year" in five categories. Renowned enterprises and media support the competition as partners, including BMW, American Express, IKB Deutsche Industriebank, Capgemini, Frankfurter Allgemeine Zeitung and Manager Magazin.
Nabaltec AG, with registered office in Schwandorf, a chemicals business which has received multiple awards for innovativeness, manufactures, develops and distributes highly specialized products based on aluminum hydroxide ("ATH") and aluminum oxide, as well as other raw materials, on an industrial scale through its "Functional Fillers" and "Technical Ceramics" divisions. The company's product range includes flame retardant fillers for the plastics industry, used e.g. in cables in tunnels, airports, high-rise buildings and electronic devices, as well as base materials for use in technical ceramics, the refractory industry and catalysis. Unlike halogenated flame retardant fillers, the products manufactured by the company's "Functional Fillers" division contain no hazardous substances and do not require separate disposal. Rather, the company's flame retardant fillers actually decrease the development of fumes hazardous to human health and the environment in the event of fire. Nabaltec maintains production sites in Germany and the US. It aims to further consolidate its market position by increasing capacity, continuing to optimize its processes and product quality and strategic additions to its product range and to secure the market leadership in each segment where its specialty products are represented, in addition to qualitative leadership.