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United Technologies Corp. Hosts Minority Business Exchange to Create a More Diverse Supply Chain
HARTFORD, Conn., Oct. 06, 2008 / -- DiversityBusiness.com /- United Technologies Corp. (NYSE: UTX) recently hosted its seventh annual Minority Business Exchange (MBX) to grow and develop a diverse supply chain that is essential to support the company’s innovation, productivity and global reach.

During the past five years, UTC has spent more than $1.3 billion with minority suppliers, with annual spending growth averaging 18 percent. In 2007, Minority Business Enterprises supplied UTC with more than $367 million in goods and services. UTC expects to grow its spend with minority businesses in 2008 at a double-digit rate.

“A broad base of suppliers encourages competition and innovation and drives productivity,” said Jothi Purushotaman, UTC Vice President of Operations. “Our ability to identify minority and diverse suppliers gives UTC a competitive advantage, and an opportunity to grow our business and satisfy our customers.”

More than 100 minority suppliers and nearly 40 senior UTC supply management executives attended this year’s MBX conference at the Connecticut Convention Center in Hartford, Connecticut.

UTC President and Chief Executive Officer Louis Chênevert presented this year’s Supplier Excellence award to The Bernd Group, a company based in Dunedin, Florida. The Bernd Group is UTC’s top minority supplier based on dollar value, having grown its sales to UTC from $350,000 to more than $30 million over 15 years.

The event featured workshops and one-on-one matchmaking meetings to help diverse suppliers start or expand their business with UTC companies and large non-diverse UTC suppliers. Approximately 80 percent of suppliers who attended the conference left with business opportunities.

The conference featured keynote remarks by Jon E. Barfield, Chairman and President of The Bartech Group; and Warren Thompson, President and Chairman of Thompson Hospitality.

United Technologies Corp. is a diversified company whose products include: Carrier heating, air conditioning and refrigeration; Hamilton Sundstrand aerospace systems and industrial products; Otis elevators and escalators; Pratt & Whitney aircraft engines; Sikorsky helicopters; UTC Fire & Security systems; and UTC Power environmentally responsible energy solutions.

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