SCHWEINFURT, December 17, 2003. Randolf Rodenstock, President of the Association of Bavarian Industry and Trade (vbw), considered the treatises of the FAG Innovation Award winners to be real courage boosters. These examples show that we should stop taking an exaggeratedly pessimistic view when it comes to innovation capability in Germany, the suggested at the award ceremony of the FAG Kugelfischer Foundation. Prior to Mr. Rodenstocks address, Foundation Council chairperson Maria-Elisabeth Schaeffler had welcomed the prizewinners and guests at the FAG Business Club.

Mrs. Schaeffler reminded the audience that the Kugelfischer Foundation had served as a bridge between industry, science, research and education ever since it was established in 1983 and referred to its significant contribution to shaping our future. To her there is no doubt that the importance of foundations will continue to grow in the future: This is a living expression of an attitude aiming at autonomy and self-determination as well as increased participation in social events.

The FAG Innovation Award is one of the major foundation prizes in Germany. This year it included a total prize money of

Other News:
FAG Innovation Award 2003
Daido Will Boost Bearing Production in Japan and Thailand
China: NSK Set China Technology Center in Kunshan, Jiangsu Province
Koyo Launches New Precision Bearing Line
SKF Closing CR Franklin Seal Plant,Curtails Guadalajara Operations
Matsushita and Minebea Establish Joint Venture Company for Information Equipment Motor
China:Luoyang Bearing Corp.（LYC）acquired many achievements in scientific creation during 2003
Hastings Manufacturing Completes Voluntary Delisting Action