Lear Corporation, one of the world's largest automotive suppliers, plans to significantly increase minority supplier procurement according to Robert Rossiter, president and chief operating officer. Rossiter was the featured speaker at the Michigan Minority Business Development Council's (MMBDC) 14th Annual Buyer/Supplier Luncheon. The event was held yesterday at the Detroit Marriott/Renaissance Center.

"Although we have made some significant advances in the realm of minority business procurement, we realize we have a long way to go," said Rossiter to an audience of 2,000 consisting of representatives from major corporations and minority businesses. Last year, Lear set a 1999 procurement goal of $175 million from minority businesses. Recently, the company reported the goal was surpassed - reaching $208 million.

"We see supplier diversity as being essential to building strong economies in our surrounding communities and a viable part of our strategic growth in the global community," said Rossiter. Lear reported annual sales of more than $12.4 billion in 1999.

Lear was a corporate sponsor of the annual luncheon, which was originated by the corporate community to enhance and promote procurement activity. This annual event encourages corporate purchasing agents to invite their current and potential suppliers to an afternoon of proactive networking and business card exchange.

Lear is an active supporter of the MMBDC's mission to increase procurement opportunities for minority businesses and to foster reciprocal procurement among minority-owned enterprises. Other corporate sponsors included Ameritech/SBC Global Network, Comerica Incorporated, DaimlerChrysler, DTE Energy and General Motors Corporation.

Lear Corporation, a Fortune 200 company headquartered in Southfield, Michigan (USA), is one of the world's largest automotive suppliers, with 1999 sales of $12.4 billion. The company's world-class products are designed, engineered and manufactured by more than 120,000 employees in over 300 facilities located in 33 countries.

Lear Corporation

Lear Corporation

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