Four Years Straight: Chrysler Group Named Michigan Minority Business Development Council's 'Corporation of the Year'

- 2002 minority sourcing equaled $3 billion - almost 11 percent of total spend - Chrysler Group's innovative 'Matchmaker' and MEI programs help minority suppliers grow and succeed

AUBURN HILLS, Mich., Oct. 8 -- For the fourth consecutive year, Chrysler Group has been honored as the "Corporation of the Year" by the Michigan Minority Business Development Council (MMBDC). The award, which is the Council's most prestigious, evaluates all auto manufacturers on their diversity supplier development programs, and the initiatives the companies implement to help minority suppliers succeed. The award was presented at the MMBDC's 20th Annual Awards Dinner last night at Cobo Center in Detroit.

"Chrysler Group has done an excellent job of putting together a minority supplier development program," said E. Delbert Gray, PhD, President and CEO of the MMBDC. "Through its diversity supplier development program, the Company has identified a number of minority businesses that it wants to do business with and mentor as well. Also, through its exemplary program, Chrysler Group has helped inform other companies of the value of a diversity supplier development program and identified strong minority suppliers for other auto manufacturers and large suppliers."

In addition to its consistent sourcing to minority suppliers, Chrysler Group has developed several programs that steer minority suppliers toward success, including "Matchmaker" and the Minority Enterprise Initiative (MEI) program.

Matchmaker

In 2000, Chrysler Group developed the "Matchmaker" program, which was designed to pair minority and Tier 1 suppliers, and encourage networking and the development of long-term partnerships. The first year garnered about $15 million in business opportunities. Since then, the program has generated $110 million between minority and Tier 1 suppliers. Additionally, metropolitan Detroit suppliers alone have generated $40 million from the program.

Minority Enterprise Initiative (MEI)

The much heralded Minority Enterprise Initiative is one of the first programs to link auto manufacturers with minority suppliers and a financial institution (Comerica Bank), and one of the only automotive initiatives to address all aspects of a supplier's business. MEI was developed to help minority suppliers improve technical capabilities and increase quality performance.

Results of the program show that participating suppliers have increased their business with Chrysler Group an average of 26 percent -- which is more than $200 million in new business for minority companies. In addition, the MEI program has generated more than $95 million in new capital loans for suppliers through Comerica Bank.

Chrysler Group Diversity Supplier Development

"Chrysler Group has actively supported minority businesses for 20 years, and we will continue to create innovative programs that help suppliers grow and remain in business," said Thomas W. Sidlik, DaimlerChrysler Executive Vice President - Procurement & Supply. "Since the inception of our minority supplier development program, we have sourced more than $21 billion to minority businesses, and our 'Matchmaker' program continues to generate new business opportunities. That direct support will continue."

In addition to the top honor from the MMBDC, Chrysler Group employee, Gary Galac, Buyer - International Procurement Services, won the "Buyer of the Year" award for his constant support of minority suppliers.

Earlier this year, Chrysler Group was recognized by the National Minority Supplier Development Council with the prestigious "Leadership Award." The award recognized the Company's long-term commitment to providing opportunities for minority business suppliers -- both inside and outside of Chrysler Group -- and to minority supplier development. In total, Chrysler Group has won 20 major awards from diversity organizations since 2000.

Established in 1978, the Michigan Minority Business Development Council is a privately funded organization. Its primary objectives are to enhance business opportunities and support educational development by consolidating the interests and resources of major corporations and minority business enterprises.

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