President praises Festo

During his visit to the Esslingen-based company Festo, Federal German President Christian Wulff has identified the provision of vocational and continuing training for young people as a guarantee for entrepreneurial success.

The corporate group is the awardee of the German Future Prize 2010. It received the award endowed with a total of 250,000 euros for a highly modern, flexible grapple device.

The Festo enterprise, which according to its own information invests 1.5 per cent of its revenue into the provision of global vocational and continuing training for its employees, uses the prize money for study scholarships.