Mannesmann Sachs AG has been honored as a General Motors Supplier of the Year.

General Motors presented the award to Mannesmann Sachs AG at a recent ceremony in Munich, Germany. The prestigious honor is given annually by GM to its best global suppliers in recognition of superior performance during the previous year.

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Sachs Automotive of America, a Mannesmann Sachs AG subsidiary, is headquartered in Troy, MI, and has a manufacturing facility that employs more than 500 people in Florence, KY. The company provides GM with shock absorbers and struts in suspension systems and modules.

“The Mannesmann Sachs AG Chassis Division is one of our best and brightest suppliers,” said Harold R. Kutner, GM group vice president, worldwide purchasing and North American production control & logistics. “It is an honor to have them working with us. Their contributions to General Motors’ overall success are immeasurable. We look upon the Supplier of the Year award as an important recognition of their value as an automotive industry supplier.”

Friedhelm Riemenschneider, a member of the Mannesmann Sachs Executive Board and head of the group’s Chassis Division, accepted the award for the company.

“International presence and customer proximity are as important today as quality and innovative development capabilities,” Mr. Riemenschneider noted. “The Sachs Chassis Division is proud to have received General Motors’ Supplier of the Year award and we plan to concentrate on the further development of systems and modules for GM and our other valued automotive customers.”

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The GM Supplier of the Year award began as a global program in 1992. Award winners are selected by a global team of GM purchasing, engineering, manufacturing and logistics executives who base their decision on supplier performance in quality, service, technology and price. This year, General Motors honored 181 suppliers from 22 countries for their excellence throughout 1999.

Mannesmann Sachs AG is a global development and systems partner for the automotive industry with more than 20,000 employees worldwide. Its core business areas include powertrain, chassis, pneumatic springs and vibration control components.