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FALLS CHURCH, Va., Jan. 23, 2012 (GLOBE NEWSWIRE) -- Northrop Grumman Corporation (NYSE:NOC) has been named one of America's Top Organizations for Multicultural Business Opportunities in 2012, ranking fifth overall. Rising from last year's seventh place rating, Northrop Grumman is among the 50 Fortune 500 companies to receive a top score from DiversityBusiness.com, the largest organization of diversity-owned businesses throughout the United States. This is the 12th annual listing.
Over 1.2 million businesses were asked to answer questions about diversity business in the marketplace. The Div50 award is based on factors such as volume, consistency and quality of business initiatives that a company grants to multicultural suppliers.
"We are very proud of this recognition," said Gloria Pualani, corporate director, socio-economic business programs (SEBP). "It is great to be ranked in the top five. Northrop Grumman has made a long-lasting commitment to diversity and inclusion in the supply chain, particularly with our small business partners."
Northrop Grumman's SEBPs play a key role in diversifying the company's supply chain and technical capabilities by connecting small businesses capabilities with its government programs, leading to significant business opportunities. In fiscal year 2011, Northrop Grumman awarded more than $3.4 billion in subcontracts to small businesses, 37 percent of its $9.3 billion in total subcontracts.
The SEBP program works to expand subcontracting opportunities for all classes of small business concerns, including small disadvantaged, women-owned, historically underutilized business zones, veteran, service-disabled veteran-owned, historically black colleges, universities and minority institutions.
Northrop Grumman will receive the award at the DiversityBusiness.com's 12th Annual Multicultural Business Conference, April 25-27, 2012, in Mashantucket, Conn.
Northrop Grumman is a leading global security company providing innovative systems, products and solutions in aerospace, electronics, information systems, and technical services to government and commercial customers worldwide. Please visit www.northropgrumman.com for more information.
CONTACT: Margaret Mitchell-Jones