Toyota Event Promotes Minority Business Success
In 2010, Over $60 million Worth of Contracts Generated by Opportunity Exchange
CINCINNATI, Ohio (November 16, 2011) – Toyota Motor Engineering & Manufacturing North America (TEMA) held its 22nd Opportunity Exchange event at the Duke Energy Convention Center in downtown Cincinnati today.
Opportunity Exchange, a 1,700 person gathering and one of the largest minority business events in the country, provides minority business enterprises (MBEs) the opportunity to network with Toyota’s direct suppliers. Last year alone, over $60 million worth of contracts were generated as a result.
“Toyota’s effort to support minority business inclusion continues to be a company priority,” said Shigeki Terashi, president and COO of TEMA. “Having a supplier base which reflects the diversity of our customers and team members is at the core of the Toyota Way.”
Toyota was recently recognized as Corporation of the Year by the National Minority Supplier Development Council (NMSDC) for its continued commitment and leadership in supplier diversity. This is the second time Toyota is awarded this honor.
Over the course of two decades, Opportunity Exchange has helped generate new business for MBEs and continues to help direct suppliers diversify their own supply base. These partnerships help add value and innovation to Toyota’s products and services. For more information about Toyota's supplier diversity program please visit www.toyotasupplier.com
Toyota (NYSE:TM) established operations in North America in 1957 and currently operates 14 manufacturing plants. There are more than 1,800 Toyota, Lexus and Scion dealerships in North America which sold more than 2 million vehicles in 2010. Toyota directly employs more than 35,000 in North America and its investment here is currently valued at more than $23 billion, including sales and manufacturing operations, research and development, financial services and design. Toyota's annual purchasing of parts, materials, goods and services from North American suppliers totals nearly $25 billion. Toyota currently produces 12 vehicles in North America, including the Avalon, Camry, Corolla, Highlander, Matrix, RAV4, Sienna, Sequoia, Tacoma, Tundra, Venza and the Lexus RX 350. For more information about Toyota, visit www.toyota.com