Proper Corporate Structuring Leads to Business Acquisition and Continued MBE Certification
MBDA plays instrumental role in company’s success
With the assistance of the Detroit MBDA, a strategic alliance between Detroit Technologies Inc. (“DTI”) and Formed Fiber Technologies (“FFT”) into an acquisition of FFT by DTI to rebrand as ConForm Automotive, a thriving advanced manufacturing enterprise with Steve Phillips as the company’s President and CEO.
CLIENT SUCCESS STORY HIGHLIGHTS
CORPORATE STRUCTURING ASSURED FUTURE CONTRACTS WITH AUTOMOTIVE OEMS
AWARDED $10,000 BANK OF AMERICA SCHOLARSHIP AT THE RECOMMENDATION OF DETROIT MBDA
ABLE TO DIVERSIFY PORTFOLIO AND EXPAND COMPANY OPTIONS
BREAKING INTO AEROSPACE INDUSTRY THROUGH DETROIT MBDA’S AS9100 CERTIFICATION PROGRAM
In order for ConForm to maintain its MBE Certification, the Detroit MBDA Center offered assistance in the corporate structuring of the company. This critical assistance resulted in the assurance of future contracts with automotive OEMs, significantly grew the company, and added hundreds of new jobs.
The Center then recommended ConForm for a $10,000 scholarship by Bank of America, which the company plans to use for financing ISO TS16949 training. Finally, the MBDA has advised ConForm to further diversify into the aerospace industry through their AS9100 certification program.
“Diane Lee, with the MBDA Business Center here in Detroit, was instrumental in assisting our staff with these game-changing deals.”
–Steve Phillips, ConForm Automotive CEO
Key Participants: Michelle Sourie Robinson, MMSDC President;
Diane Lee, Detroit MBDA Business Center Director;
Steve Phillips, CEO of ConForm Automotive;
General Motors, Toyota; Foley and Lardner, LLP