Mr Greten was honoured with the Schinkel-Ring. The Fagus-Factory was founded by Mr Greten’s great-grand father Carl Benscheidt in 1911.

The Fagus-Factory went down in history thanks to its design by an architect and later founder of the Bauhaus. It is considered to be the original building of modern industrial architecture and is UNESCO World Heritage since 2011.

As a cultural institution in an industrial plant, the Fagus-Factory welcomes more than 25,000 visitors every year.

With the award, the committee underlines Mr Greten's role as shareholder of the company whose actions “were not primarily for the economic benefit, but rather were guided by the considerations of monument preservation”.