Nabaltec finalist in the Entrepreneur of the year 2009 competition

(PresseBox) ( Schwandorf, )
- Nabaltec AG reached the finals of the "Entrepreneur of the Year, 2009" competition
- innovativeness, entrepreneurship and stability in a tough global market
- Ernst & Young recognizes exemplary entrepreneurial engagement

Innovativeness and quality leadership, together with the confidence to invest heavily in starting a new business in today's challenging market environment, are the factors which underscore Nabaltec AG's ability to grow even in the midst of the economic crisis. Along with 76 other companies who have demonstrated innovativeness and growth even in the current environment, Nabaltec has now made the final round of the renowned "Entrepreneur of the Year" competition for the second time.

A total of 300 mid-sized companies were nominated for that coveted award this year. "It was a strong field of participants" reported Wolfgang Glauner, the competition's organizer and project manager. "The companies posted strong double-digit growth rates and created jobs even in the downturn." From the 77 finalists, including Nabaltec, a jury composed of recognized economic experts chose the 2009 "Entrepreneurs of the Year" in five different categories: industry, commerce, services, IT/media and start-up. The winners were recognized on 2 October at the Alte Oper in Frankfurt, before an assortment of distinguished guests.

The 77 finalists were able to offer innovative products and services in their respective sectors, generating about EUR 8 billion in revenue in 2008. "On average, they grew at a rate of 22 percent" explained Glauner. "That is remarkable, since most of them operate in saturated sectors with stiff competition." This growth creates opportunities: the 77 finalists have 38,000 employees between them, and created about 5,000 new jobs last year alone. Nabaltec's revenues grew by 9.3% from 2007 to 2008, and its work force grew by 10 percent over the same period, to 347. In the words of Gerhard Witzany, a member of Nabaltec AG's Management Board, and who was also a finalist, along with fellow Management Board member Johannes Heckmann: "While we will also have to pay the price for the economic crisis in 2009 in the form of a sharp drop in revenues, our historic revenues and earnings growth and awards such as the "Entrepreneur of the Year" clearly show that we will be back very soon. Thanks in part to our new "Additives" business unit, we will quickly get back to our accustomed growth. The foundation is there: we have been able to successfully defend our market position despite the crisis, we are still the quality leader and the fundamental market drivers for our eco-friendly products are fully intact."

"Mid-sized companies drive the economy but the people behind their economic success are usually unknown" said Glauner. Ernst & Young organizes the "Entrepreneur of the Year" competition in order to highlight and recognize outstanding achievements. Contestants undergo a demanding, multi-stage selection process before an independent jury of scientists and entrepreneurs select a winner for each category.

About "Entrepreneur of the Year":

Ernst & Young organizes the "Entrepreneur of the Year" competition in 50 countries worldwide. In Germany, the award will be given for the 13th time in 2009: a neutral jury chooses the "Entrepreneur of the Year" in five different categories. The award identifies and honors outstanding entrepreneurial achievement. The competition is held with support from renowned companies and media outlets like BMW, American Express, DZ BANK, Frankfurter Allgemeine Zeitung and Manager Magazin.

In addition to recognizing successful entrepreneurs today, Ernst & Young has also set out to promote the next generation of entrepreneurs by creating the "Entrepreneur of the Year Junior Academy."
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