General Motors included Doosan Infracore on its list of 2005 Global Suppliers of the Year Award winners. Managing Director Kim Yong-soo of the Engine and Materials BG received a Plaque of Appreciation on behalf of the company during the presentation ceremony held at GM Headquarters on April 28. Supplier of the Year is the highest honor that a vendor can receive from the US automaker.
CASKOD, a company spun off from the Engine and Materials BG, makes top quality cylinder heads and blocks, which Doosan Infracore has supplied to GM-Daewoo Auto & Technology. By keeping delivery times and maintaining consistent quality control, Doosan has built up trust with GM, and now is the first GM-Daewoo vendor to be named a "Best Supplier" by GM.
GM employs over 3,500 primary suppliers worldwide and each is evaluated annually for quality, price and delivery. Those suppliers that are judged to contribute the most to GM? bottom line are given a Plaque of Appreciation and an opportunity to discuss ways to grow with GM. In 2006, representatives from 85 GM suppliers gathered in Detroit for the award ceremony.
GM offers the award-winning suppliers various incentives to encourage strategic cooperation over the long term. The "Best Suppliers" can engage in joint research projects with GM's R&D unit and are given the first opportunities to develop new items needed by GM. GM provides a comprehensive support package that includes technology innovation, technology development and cost reduction.
Managing Director Kim Yong-soo says: "(The award) served as great publicity for Doosan Infracore. Our name was visible to the top management at GM, including Chairman Rick Wagner, as well as to the many suppliers at the awards ceremony. The GM executives in charge of procurement learned about our diesel engines and related parts, and this will pave the way for us to expand our diesel engine business in the future."