Mönchengladbach-based lubricant specialist invests in local, social business project

This year’s Christmas donation from lubricant specialist Rhenus Lub makes an important contribution towards “supporting self-help initiatives”, in Mönchengladbach, where the company headquarters are located. This was recognised by Nobel Peace Prize winner, Muhammad Yunus, on his most recent visit to the city, when he accepted the cheque from company owner Dr Max Reiners on behalf of two schools.

The economist from Bangladesh is an advocate of “social business”. The aim of this business idea is to eliminate social injustice, not to maximise profits. Profits that are made are reinvested back into the company. Whereas conventional donations have a one-off effect, investing in social business leads to sustainable success — as the schools supported by Rhenus Lub demonstrate. With the help of nutritionists and teachers, students are learning about healthy food and how to prepare it for themselves. In today’s fast food age, the value of these lessons should not be underestimated.

“A central idea of social business is to encourage individuals to find their own, long-term solutions to their problems. This is an idea that we are completely committed to at Rhenus Lub”, says Dr Max Reiners, explaining his choice of donation project for this year. “As a medium-sized company, we also have a responsibility for the locality and the people who live here. For this reason, we have already been involved in social projects here in Mönchengladbach for many years.”

71-year-old economic expert, Muhammad Yunus, is the founder and former Managing Director of the Grameen Bank, which provides microcredit. In 2006, he, along with the bank he founded, was awarded the Nobel Peace Prize in recognition of his promotion of social and economic development.

Further information is available at www.muhammadyunus.org