Minority firm to seal $500 million deal.Detriot-based auto supplier Bridgewater Interiors, a BE INDUSTRIAL/ SERVICE 100 company, scored a major coup for minority businesses in March by winning a Ford Motor Co. contract worth more than $500 million annually. While Ford has the option to renew or break the contract each year, it's a hardship for automakers to change suppliers in the middle of a vehicle production run, which typically lasts five to 10 years. "It's the largest deal that an original equipment manufacturer has given to a minority-owned company," says E. Delbert Gray, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of the Michigan Minority Business Development Council. Bridgewater Interiors will produce automotive seat systems for Ford's F-150 pickup trucks, as well as the automaker's Expedition and Lincoln Navigator The Lincoln Navigator is a full-size luxury SUV produced by Ford Motor Company for its luxury division Lincoln. Introduced in 1998, the Navigator was one of the first full-size luxury SUVs. sport utility vehicles This page lists sports utility vehicles currently in production (as of April 2007), as well as past models. The list includes crossover SUVs, Mini SUVs, Compact SUVs and other similar vehicles. . The seats will be built in a manufacturing plant Bridgewater Interiors opened in Warren Michigan, in December 2003. While Ford purchased $3.2 billion in goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. from minority suppliers in 2003. Tony Brown Ford's vice president of global purchasing, says Bridgewater Interiors won the contract not because of its minority status but because of the quality work it produces. Companies bidding for the contract were evaluated by a team of Ford executives from various departments of the company, he says. "This is not about altruism--it is about selecting a qualified supplier and, at the same time, helping to create wealth in a community that richly deserves that kind of empowerment em·pow·er tr.v. em·pow·ered, em·pow·er·ing, em·pow·ers 1. To invest with power, especially legal power or official authority. See Synonyms at authorize. 2. ," Brown said in a statement. "And it is also about confidence. This facility will create seat systems for Ford Expedition The Ford Expedition is a full-size SUV built by the Ford Motor Company. Introduced in 1997 it slots between the smaller Ford Explorer, and the now discontinued and larger Ford Excursion. The Expedition offers up to eight passenger seating and a range of V8 engines. and Lincoln Navigator--two of Ford Motor Co.'s most popular sport utility vehicles. And it will also create seat systems for Ford F-150, the best-selling best·sell·er also best seller n. A product, such as a book, that is among those sold in the largest numbers. best model in our most popular vehicle line, ever. We do not entrust that sort of responsibility to just anyone." Bridgewater Interiors President and CEO Ron Hall says the scope of the deal will lead other companies to take a closer look at minority-owned firms. "We like to think that we're blazing trails for other minorities to get major contracts," Hall says. The contract "proves that [major companies] have confidence that a minority company can handle a contract of this size and still deliver quality service just, in time at a right price." |
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