The ‘Top 100’ was determined by a survey undertaken by the Economics University in Vienna. Tracto-Technik was presented the award by Lothar Späth the minster for the federal state Barden-Württemberg.

Professer N Franke of the Economics University in Vienna stressed the importance of innovation during the Global Financial Crisis, saying “anyone who reacts to falling sales figures by stopping innovative activities would be acting like a farmer who stops sowing his fields because a poor harvest is being prophesised. The opposite is the correct solution: now is the time to intensify sowing.”

Tracto-Technik is a medium sized family-owned business based in Lennestadt, Germany, which specialises machinery for the underground installation and trenchless renewal of pipelines. Approximately ten per cent of turnover flows into R&D and the ‘Top 100’ award reflects innovations such as the “Geothermal Redial Drilling” project, as well as the company’s 350 patents.

Company owner Wolfgang Schmidt said: “Our innovation power is now proven to be among the best, which German medium sized businesses have to offer. This strengthens our competitiveness in the market and provides assurance among the employees, partners and of course the customers. There is no better way of encountering crisis periods.”