INTRODUCTION

The Wilhelm Lorch Foundation was introduced to the sector by the shareholders and management of the Deutscher Fachverlag GmbH on the occasion of the 30th TextilWirtschaft Forum in June 1988. The Foundation is named after Wilhelm Lorch, the publisher and founder of "TextilWirtschaft" and hence of the Deutscher Fachverlag. He died in 1966.

The Foundation promotes the basic and advanced training of talented young people from all parts of the textile industry, i.e., creation, business / marketing, technology, media, communication / Internet and sector-related services. The objective of the Foundation is achieved by giving awards and money prizes for projects in planning and completed projects from the practical, training or scientific sides. Additionally, the Foundation can provide financial support for institutes, schools and training organisations that focus particularly on the training of young people, e.g., by providing funds towards the cost of equipment for training projects, etc. The Wilhelm Lorch Foundation is a foundation with an independent legal existence under civil law. It works exclusively and directly for the public benefit. It was approved by the President of the Administrative Region in Darmstadt with the issue of the foundation certificate on 13 July 1988 and recognised as a non-profit organisation by the Tax Office in Frankfurt am Main with the certificate issued on 1 August 1988. It is based in the office building of the Deutscher Fachverlag, Mainzer Landstrasse 251, Frankfurt am Main. The organs of the foundation are the Supervisory Board, the Board of Trustees and the Board of Management.

The Supervisory Board is responsible for all decisions concerning the administration of the Foundation's assets and the appropriation of the Foundation's income. Decisions concerning prizes and awards are taken by the Board of Trustees, the members of which include the members of the Supervisory Board, the current Editor-in-Chief or the Publisher of TextilWirtschaft, the Board of Management and up to ten other people.

The Deutscher Fachverlag bears all costs arising in connection with the operation and the administration of the Foundation. The members of the Supervisory Board, the Board of Trustees and the Board of Management work on an honorary basis. Since being founded in 1988, the Wilhelm Lorch Foundation has given promotional prizes worth around
€ 1.160.264 and, in this way, made a considerable contribution to the basic and advanced training of young people from the textile sector in accordance with the aims and charter of the Foundation.