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United Technologies Corp. Holds Annual Conference to Support Supplier Diversity Initiatives
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HARTFORD, Conn., Oct. 7, 2009 / -- DiversityBusiness.com /- United Technologies Corp. (NYSE: UTX) purchased $950 million of goods and services from diverse business enterprises in 2008. Over the past four years, the company purchased nearly $3 billion of goods and services from minority and women-owned businesses, averaging 26 percent growth year over year.
The company credits its Diverse Business Exchange, formerly known as the Minority Business Exchange, with a significant portion of its success. The annual event provides businesses with insight on UTC sourcing opportunities, networking opportunities with senior UTC supply management executives, and introductions to large UTC Tier One suppliers.
“Our diverse supply base consistently delivers innovative solutions and value that provide a competitive advantage for our customers,” said Eileen P. Drake, UTC Vice President Operations, in remarks at today’s Diversity Diverse Business Exchange. “In fact, 16 percent of UTC’s best performing global suppliers are diverse companies.”
More than 70 diverse suppliers and nearly 20 senior UTC supply management executives recently attended this year’s event at the United Technologies Research Center in East Hartford, Conn.
UTC President and Chief Executive Officer Louis Chênevert presented the 2009 Diverse Supplier Excellence award to Aimtek, Inc., a company based in Auburn, Mass. The company supplies precious metals, brazing alloys and welding supplies and offers inventory management solutions.
Aimtek currently provides a value managed inventory solution (VMI) to Pratt & Whitney’s International Aerospace Tubes joint venture located in Indianapolis, Ind. The VMI solution, the first of its kind at Pratt & Whitney, incorporates radio-frequency identification technology for real-time monitoring. The unique system will reduce inventory levels, provide stronger controls for high-cost metals, improve delivery time and reduce transportation costs.
United Technologies Corp. provides energy efficient products and services to aerospace and building industries. UTC’s 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 fuel cells. DiversityBusiness.com ranked UTC 18th on the list of “Top 50 Organizations for Multicultural Business Opportunities” in 2008.
UTC has been on the list of the Global 100 Most Sustainable Corporations in the World since 2005, a member of the Dow Jones Sustainability Indexes since 1999, and was recently named the “greenest” aerospace and transportation company by Newsweek. In March 2009, Fortune magazine named UTC its "Most Admired" aerospace and defense company.
Press Contact : Tom Downie | 860-728-7012
About DiversityBusiness.com
Launched in 1999, DiversityBusiness, with over 50,000 members, is the largest organization of diversity owned businesses throughout the United States that provide goods and services to Fortune 1000 companies, government agencies, and colleges and universities. DiversityBusiness provides research and data collection services for diversity including the "Top 50 Organizations for Multicultural Business Opportunities", "Top 500 Diversity Owned Companies in America", and others. Its research has been recognized and published by Forbes Magazine, Business Week and thousands of other print and internet publications. The site has gained national recognition and has won numerous awards for its content and design. DiversityBusiness reaches more diverse suppliers and communicates more information to them on a more frequent basis then all other organizations combined. We also communicate with mainstream businesses, government agencies and educational institutions with information related to diversity. Our magazine reaches over 300,000 readers, a monthly e-newsletter that reaches 2.4 million, and website visitors of 1.2 million a month. It is a leading provider of Supplier Diversity management tools and has the most widely distributed Diversity magazine in the United States. DiversityBusiness.com is produced by Computer Consulting Associates International Inc. (CCAii.com) of Southport, CT. Founded in 1980.
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