Türk noted that the European model of excellence was still relatively poorly spread in Slovenia, adding that the award was a call to all successful Slovenian managers to actively engage in introducing the basic principles of excellence in businesses and public institutions.

The award was conferred this year after a four-year break, as TPV was the only company to meet the strict criteria for the country's main award for quality of business based on the development of know-how and innovation in the last four years.

TPV, which employs 595 people, supplies parts for most global car producers from its plants in Slovenia, Serbia and Russia.

According to CEO Vladimir Gregor Bahč, the company's competitive advantages are the ambition and loyalty of the employees, focus on innovation, constant progress and original, proactive and flexible work.

Since 1998, the Business Excellence Award has been conferred to a total of eleven companies or organisations. The 56-member committee for the 2011 award chose TPV among ten applicants.