TORONTO, September 26, 2008 – Karan Fasteners Ltd., a minority company certified by the Canadian Aboriginal and Minority Supplier Council (CAMSC), has won a $2-million contract to supply industrial fasteners to Eberspaecher North America, a Tier One supplier of automotive components to Chrysler LLC.
Karan Fasteners’ CAMSC certification qualified the subcontractor to compete for business from Tier One suppliers at Chrysler’s annual Matchmaker event, which resulted in the new business opportunity. Through a reciprocal agreement with CAMSC’s U.S. counterpart, the National Minority Supplier Development Council, CASMC-certified aboriginal and minority businesses have increased access to US corporate supply chains. As a founding member of CAMSC, Chrysler has recognized the business benefits of a diversified supply chain.
“This demonstrates once again the value of CAMSC in promoting supply- chain diversity,” says Orrin Benn, President of CAMSC. “Through CAMSC, aboriginal and minority businesses gain access to more than $100 billion in private-sector procurement opportunities.”
Karan Fasteners and Eberspaecher North America were recognized on September 18 at Chrysler’s ninth-annual Matchmaker event in Auburn Hills, Michigan with the “Top Supplier Award,” for successfully sourcing new business as a result of last year’s Matchmaker program.
Based in Mississauga, Ontario, Karan Fasteners Ltd. was founded by Paul Matharoo, who emigrated to Canada in 1994. Karan Fasteners is a manufacturer and distributor of all types of industrial and automotive fasteners, including but not limited to: Nuts, Bolts, Rivets, Screws, Screw Machine Parts, CNC Machined Parts, Ejector Pins, Punches and Specialty Fasteners made from exotic materials. www.karanfasteners.com
CAMSC, the Canadian Aboriginal and Minority Supplier Council, links aboriginal and minority-owned businesses to purchasing opportunities in Canada’s corporate supply chains. CAMSC was established in late 2004 by leading members of Canada’s corporate community, including Chrysler, Cisco, HP, IBM, RBC Financial Group, Xerox, and many others. Supplier diversity enables corporate Canada to access choice, innovation, competitiveness and market knowledge by accessing an underutilized yet growing diverse supplier base. Canada’s economy also wins because it boosts employment levels, trade, and competitiveness.
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