Engineering excellence still drives German exports
Amid the persistent gloom about Germany's weak economy, Putzmeister offers a refreshing contrast to tales of stagnant demand, sclerotic politics and a restrictive business environment.
The construction machinery maker, based near the southern city of Stuttgart, not only illustrates Germany's traditional engineering prowess - it makes the world's longest mobile concrete pump - but also something more impressive: the country's current export boom.
Hinrich Mahlmann, chief executive, says overseas orders have risen "powerfully" since the beginning of 2004 and Putzmeister expects to increase its staff by 10 per cent this year to cope. "Germany stands for quality," he says. "As with German cars, people are prepared to pay premium prices." Overseas sales now account for 90 per cent of production, up from 60 per cent a decade ago.
Official statistics in recent days have confirmed that Mr M
