Ford Increases Spending With Minority & Women-Owned Businesses
- Ford expects to exceed 10 percent minority- and women-owned sourcing goal in 2010
- Ford purchased $2.7 billion worth of goods and services from tier one diverse suppliers in 2009
- Ford provided new business worth more than $150 million to minority- and women-owned companies in 2009
DEARBORN, Mich. -Ford Motor Company (NYSE: F), maintaining a strong commitment to supplier diversity, is on track this year to exceed its annual goal to source 10 percent of U.S. purchases with minority- and women-owned businesses.
In 2009, Ford purchased $2.7 billion worth of goods and services from its tier one minority- and women-owned businesses in the U.S., down from $3.3 billion in 2008. The decline is attributable to lower industry volumes. Despite the decrease in dollar amounts, the level of Ford’s U.S. diversity sourcing in 2009 remained at approximately 10 percent. Ford’s tier one suppliers purchased $1.02 billion from minority- and women-owned businesses in 2009, compared to $1.2 billion in 2008. Read More »