Press release

4 Jun 2020 Ljubljana, SI

LOTRIČ Metrology wins Family Business Award of Excellence 2020

Every year, EY Slovenia recognizes and celebrates the best family enterprises and family practices. This year's winner is LOTRIČ Metrology.

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LOTRIČ Metrology, a family enterprise from Selška dolina, has three decades of experience with testing and calibration as well as development and implementation of metrology products and solutions. The company is led by five members of the Lotrič family: Marko Lotrič is the owner and director of the company, his wife Mojca is deputy director, their daughter Katja is financial director, son Mitja is director of the LOTRIČ Certificiranje subsidiary and daughter Maja is director of the PSM merilni sistemi subsidiary. The company, or their second family as they call it, employs 150 experts in various fields of metrology. Marko Lotrič was very proud to hear they have been selected for the Award of Excellence, as this proves their work has been recognized on a global scale:

“A family business is based on a mix of values – we are aware that we are guided by emotional as well as rational principles. Family companies are long distance runner, which I see as a privilege. This means that leaders of family businesses have more than just a couple of years to prove themselves and our success not only measured financially. For example, in the current situation, our focus was on keeping all the jobs. We managed to achieve this with a shift towards new areas of activities and by developing products and services in response to changing circumstances. The desire to survive is written into the DNA of every family business. The added value of family companies is or wish to succeed in our local environment, since we know it is not just the company that has to survive, but also the families of our employees. With this shared desire and efforts, moving the production abroad, for example, is usually not part of our solutions and I see this as an important contribution of family businesses to Slovenian economy.”

A family company that became a metrology laboratory in less than three decades

When Marko Lotrič founded the company in 1991, the focus was on testing the measuring and laboratory equipment. The first professional service developed by their lab was preparation of scales and weights for certification purposes. At that time the metrology in Slovenia was completely regulated by the state, making it even harder to join the field. Gradually, however, the company became a part of the Slovenian metrology system. Their efforts encouraged some changes in the regulation of this field and contributed to the development of metrology in Slovenia. In 2002 Lotrič Metrology became the first privately owned company in Slovenia to be appointed by the Metrology Institute of the Republic of Slovenia to implement legal verification of measuring instruments. A year later they built a modern building with state-of-the-art labs and equipment in Selška dolina. Today the company is an important international player. Their certificates in 47 countries and a QNet network of international partners allowed them to spread across Central and Eastern Europe and further. More than 18.448 companies are listed on their list of references and the have registered 3 patents. The Lotrič Metrology group includes three Slovenian subsidiaries, Lotrič Certificiranje, Lotrič Iskra and PMS merilni sistemi, as well as subsidiaries in Austria, Germany, Croatia, Bosnia and Herzegovina, Serbia and North Macedonia. The interior renovation of their new Metrology park in Železniki is about to be completed.

Flexibility and resilience in face of the epidemics

During the coronavirus COVID-19 crisis, the company has demonstrated several attributes that are traditionally strong in family enterprises, which allowed it to react quickly and prove its resilience. After the epidemic was declared in Slovenia, Lotrič Metrology established a test laboratory and certification authority to encourage production and self-supply of face masks in Slovenia and to offer the local manufacturers a quick and efficient way to confirm whether their masks meet the standards. They also started collaborating with Domel, EKWB, BPMC, Technology Park Ljubljana and Zavod 404 to develop a new medical ventilator DIHAM.

Selection criteria for the Slovenian award winner

The Slovenian winner of the Award of Excellence for family businesses has been selected by an independent committee according to eight criteria of excellence. The committee was presided by prof. dr. Boštjan Antončič, head of the entrepreneurship chair at the Ljubljana School of Economics and Business, mag. Edita Krajnović, director of the Mediade company and the committee president Matjaž Čadež, founder of Halcom and MBILLS companies: “The success of the company, their long-term strategy, innovative spirit and the excellence and transparence of their corporative and family management were the reasons the committee awarded LOTRIČ Metrology with the award of excellence.”

Traditionally strong Slovenian family businesses

“We are glad that the award went to LOTRIČ Metrology, who has been on the map of successful well-known Slovenian family companies for several years now. LOTRIČ Metrology is in touch with the latest development trends, successfully grows their operations and understands the specifics of family entrepreneurship. And, importantly, they also have their own recognizable voice, which they use to actively promote development and excellence,” says Mojca Emeršič, Family Enterprise Leader at EY Slovenia. LOTRIČ Metrology is the fifth Slovenian family-owned enterprise in a row to receive the EY Award of Excellence. Last year this award went to the Vivapen company and before that to Lumar IG, KLS Ljubno and Roto.

EY Slovenia has been working closely with family enterprises for several years, giving a platform to inspirational stories and good practices of Slovenian family businesses. In the fall, we can expect the publication of the 7th book on Slovenian family-owned enterprises which will focus more on the consequences of and reactions to the current epidemics.

About EY

EY is a leading advisor to family enterprises. They have extensive global experience and deep understanding of local issues, which allows them to understand and solve the unique challenges family enterprises face locally. In recent years, EY Slovenia has contributed to several success stories by helping family companies prepare family constitutions or execute the transfer of ownership. The project for promotionof family entrepreneurship is also supported by SPIRIT Slovenia Business Development Agency.

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