PHH Arval was named “Majority Supplier of the Year” by the Procter & Gamble Co. (P&G) at an awards banquet that recognized suppliers and employees for their contributions to P&G’s purchasing, contract, and minority spending initiatives. Earlier in the year, P&G announced its commitment to spend $1.5 billion with minority and women suppliers annually by 2005. P&G’s Majority-Owned Supplier Award honors the supplier that has demonstrated its commitment to the development and use of minority-owned suppliers in supporting P&G’s business needs. PHH was responsible for contributing more than $3 million in supplier diversity spending in 2001. In order to facilitate P&G’s objectives for expanded minority purchasing, PHH formed a supplier diversity council to develop a supplier diversity-spending program. PHH was also cited for its cost-saving initiatives, technological support, and overall dedication to quality in serving the needs of the P&G fleet.