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Chrysler Group Creates Mentoring Competition During Seventh Annual Matchmaker Event


September 2006
 Filed under: DAIMLERCHRYSLER CORPORATE Car News | DAIMLERCHRYSLER CORPORATE Headlines

-- Minority and woman-owned businesses compete for a year-long mentorship with Tier One suppliers
-- Six finalists present business plans to Tier One judges
-- Matchmaker has generated more than $1 billion in new business opportunities since 2000

AUBURN HILLS, Mich., Sept. 21 /PRNewswire-FirstCall/ -- Chrysler Group's Minority Supplier Development organization will bring together more than 250 minority and woman-owned businesses and Tier One exhibitors at its seventh annual Matchmaker Event on Thursday, Sept. 21, at the Chrysler Group Headquarters. This year, the annual business and networking event expanded its business-development goals by inviting more than 200 minority exhibitors to submit business ideas to compete for a year-long mentorship with a Tier One supplier. Twenty-five percent of the minority businesses responded but only one winner will be chosen at the event.
The finalists Include: EconoBuild, Southfield, Mich.; New Technology Steel, Detroit; Production Springs, Detroit; Skilled Manufacturing, Traverse City, Mich.; The Affluence Group, Chicago; and The Emption Group, Southfield. Each finalist will present their plan to the Tier One panel of judges at the Matchmaker event. The winner will be matched with a Tier One supplier in a similar business for a one-year.

"The Matchmaker event has proven to be an excellent way for the Chrysler Group to reinforce its commitment to minority business development and to serve as an instrumental resource to help build partnerships between Tier One and minority business enterprises," said Jethro Joseph, Senior Manager - Minority Supplier Development, Chrysler Group. "In today's challenging business environment, this new mentorship opportunity can further enhance a minority businesses ability to be more competitive locally and globally."

Minority and woman-owned exhibitors were invited to submit a two-to-three page business plan to be reviewed by a volunteer panel of Tier One suppliers. The business plans were rated on a point system based on vision, marketability, growth opportunity and how a mentorship opportunity could benefit that business. Six finalists were selected from the 45 submissions received.

The judges that also have agreed to serve as mentors, include representatives from Kuka, Robert Bosch, Dana Corporation, Johnson Controls Inc, xPedx, Visteon, Lear, PPG and Mitsubishi Electric.

The Matchmaker event has become one of the premier matchmaking and networking events in the supplier diversity community. The event helps the Chrysler Group's minority suppliers, partner, compete, expand and thrive through their interactions with representatives from Tier One suppliers. It also helps Tier One suppliers maintain Chrysler Group's mandate of eight percent minority supplier content. To date, more than $1 billion of new business has been reported as a result of Matchmaker annual events.

"Since 1998, the company has more than doubled dollars spent with minority suppliers, from $1.7 billion in 1998 to $3.8 billion in 2005 -- making Chrysler Group among the industry leaders with 12 percent of its business going to diverse suppliers," said Joseph.

The growth in Chrysler Group's minority purchasing represents the highest year-over-year increase for minority suppliers and demonstrates Chrysler Group's long-term commitment to the economic development and growth of its minority suppliers.

Last year, the Chrysler Group launched a new Web site and reporting system that helps identify and register potential minority suppliers and record Tier Two minority spending by Chrysler Group suppliers. The Chrysler Group diversity Web site enables the Company to potentially increase minority sourcing business. The online supplier registration tool is designed to identify and register potential suppliers. It offers an enhanced resource for new suppliers to build relationships and understand specific procurement requirements. The Web site can be accessed at http://supplierdiversity.daimlerchrysler.com/

Since 1983, the company has sourced more than $27 billion to minority and women-owned companies.

Source: Chrysler Group

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