HARTFORD, Conn., May 20, 2008 –- United Technologies Corp. (NYSE:UTX) has been named “2008 Corporation of the Year” by the Connecticut Minority Supplier Development Council for successfully increasing procurement opportunities with minority business owners.
UTC has spent more than $1.3 billion with minority suppliers during the past five years, averaging 18 percent growth year over year.
“UTC is committed to growing our existing suppliers, encouraging promising new suppliers and ideas, and strengthening a culture that values diversity and the innovation it brings,” said Anand Stanley, UTC director, supplier development. “Supplier diversity is not a program; it’s the way we do business.”
Earlier this year, DiversityBusiness.com honored UTC as one of the top 50 companies for multicultural opportunities.
“UTC consistently performs with excellence in the area of minority supplier development,” said Dr. Fred McKinney, president, Connecticut Minority Supplier Development Council. “The high level support for the UTC supplier development program demonstrates the strategic importance of minority business development.”
The Connecticut Minority Supplier Development Council is a non-profit affiliate of the National Minority Supplier Development Council. Membership consists of local and national Fortune 500 corporations, government agencies, universities, financial institutions, associations and organizations. The organization works to develop minority businesses into companies that add value to prospective clients.
United Technologies Corp., based in Hartford, Connecticut, is a diversified company providing high technology products and services to the building and aerospace industries.