�In pictures:�German firms fighting the slump
Niche player: Vacom

Set up in 1992 in Eastern Germany with a tiny loan, Vacom specialises in vacuum technology. The cash flow comes from re-selling mass-produced parts made by others. The expansion is driven by inventing, patenting, manufacturing and installing bespoke tools for Vacom's customers. Constant IT and logistics investments keep Vacom lean.

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