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Andritz AG: Innovation brings profitability

November 9, 2011

Major Austrian industrial firm increases revenue by 30%, recognized as global innovation leader  

Andritz AG increased revenue by 29.5% in the first three quarters of 2011 over 2010 by accepting orders of over $ 5 billion (€ 4.9 billion). With over 16,000 employees throughout the world, Andritz is a global leader in industrial and infrastructure development, from paper mills to hydroelectric dams.

The Styrian producer of machinery and industrial facilities was also recognized by the global consultancy Booz & Company as one of the world’s most innovative businesses. The other Austrian firms to make this top 1,000 list are the steel manufacturer Voestalpine AG , Viennese vaccine producer Intercell AG and lighting systems manufacturer Zumtobel AG . With global innovation firms typically defined by firms in Silicon Valley, automotive and pharmaceutical companies, how has Andritz become the Apple Inc. of industrial engineering?

The key to Andritz´ innovation comes from keeping a close link between their corporate and innovation cultures. This can be defined by these goals and attributes: superior product performance, superior product quality, strong identification with the customer, an overall orientation toward the customer experience and passion for and pride in the products. More information can be found in the study “The Global Innovation: Why Culture is Key ”.