Dana Corporation Receives Corporation of the Year Award from Michigan Minority Business Development Council
Oct 7, 2002
TOLEDO, Ohio, Oct. 7 /PRNewswire-FirstCall/ -- Dana Corporation (NYSE: DCN) announced today that it has received the 2002 Corporation of the Year Award from the Michigan Minority Business Development Council (MMBDC) in recognition of its minority-supplier development and sourcing efforts. (Photo: http://www.newscom.com/cgi-bin/prnh/19990903/DANA ) In the MMBDC's Industrial Purchasing Tier I Supplier category, Dana was recognized for excellence in four areas: * Total purchases in 2001 from minority suppliers; * Number of minority suppliers the company buys products and services from; * Processes to develop and measure minority suppliers; * Executive involvement in minority supplier development. Joe Magliochetti, Dana chairman and CEO, said, "Minority-supplier development is included in Dana's strategic planning processes. It is one of our key corporate business measures. And it's part of our commitment to being a good corporate citizen. Dana's minority supplier partners in turn help Dana improve, grow, and succeed in the eyes of our customers. We're honored with this recognition from the Michigan Minority Business Development Council." Bill Carroll, president of Dana's Automotive Systems Group and a member of the board of directors of both the National Minority Supplier Development Council and the Michigan Minority Business Development Council, said, "Minorities represent the fastest growing segment of the automotive marketplace, so Dana's success in minority business development supports our customers and consequently, our own business-growth objectives. Another key benefit of minority supplier development is new job opportunities in minority communities." Dana is a major supporter of the Minority Business Enterprise (MBE) mentoring through the MMBDC's Project Operation Network Enhancement (Project ONE). Project ONE, an initiative of Ford Motor Company, seeks to enhance and strengthen minority business development activities and processes through the collective efforts of Dana's Tier I suppliers and minority business enterprises from the MMBDC. Dana has also instituted a web-based, minority-spending reporting tool, which enables its Tier I suppliers to report their minority spending in an efficient manner. Additionally, the company requires its U.S. corporate account suppliers to commit to working with minority suppliers to fulfill their contracts. Performance of these key supply partners is tracked and measured to ensure opportunities for minority-owned businesses. Dana's demonstrated commitment to minority supplier development been recognized with other awards as well, including the Ford Motor Company's Corporate Citizenship Award. This honor also recognized Dana's excellence in the areas of community service and environmental initiatives. Based in Detroit, the Michigan Minority Business Development Council is a privately funded, non-profit, business development organization. Its primary objective is to enhance business opportunities and professional development for minority business enterprises. Dana Corporation is one of the world's largest suppliers of components, modules, and complete systems to global vehicle manufacturers and their related aftermarkets. Founded in 1904 and based in Toledo, Ohio, the company operates some 300 major facilities in 34 countries and employs approximately 70,000 people. The company reported sales of $10.3 billion in 2001. Dana's Internet address is http://www.dana.com .
SOURCE Dana Corporation
Web Site: http://www.dana.com
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