February 28, 1995
Superior Industries International Inc. said it has signed an agreement for a joint venture with German-based Otto Fuchs Metallwerke to construct a plant in Europe for the production of lightweight forged and low-pressure cast aluminum wheels for the automotive industry. Louis L. Borick, president of Superior, said initial plans call for the joint venture to produce up to 2 million wheels per year.
February 7, 1995
Superior Industries, a Van Nuys supplier of aluminum auto wheels, reported profit and sales gains for the fourth quarter and all of 1994, despite costs associated with the Northridge earthquake and new plants in Mexico and Arkansas. In the three months that ended Dec. 31, Superior earned $15.8 million, up 25% from its $12.6 million in net income a year earlier. Its net sales rose 17%, to $122.6 million from $105.2 million. Superior's annual profit was $56.
October 11, 1994
Superior Industries International Inc., a Van Nuys supplier of aluminum car wheels, benefiting from strong demand for autos, reported earnings and sales gains for its third quarter and nine months ended Sept. 30. In the September quarter, Superior had a profit of $12.6 million, a 36% increase from its $9.29 million in net income a year earlier. Its sales rose 30%, to $107.4 million from $82.8 million. For the recent nine-month period, the company earned $40.6 million, up 24% from a $32.
August 9, 1994
Superior Industries International Inc., the Van Nuys maker of cast aluminum wheels, has struck a deal with Ford Motor Co. to supply wheels for Ford's Escort and Mercury Tracer models. The company said it will begin shipping the wheels in December. The agreement is expected to add $12.5 million to Superior's annual revenues. The company reported revenue of $393 million in 1993.
July 19, 1994
Superior Industries International Inc., a Van Nuys-based supplier of cast aluminum wheels for auto makers, reported net income of $15.4 million for the second quarter ended June 30, a 16% increase from earnings of $13.3 million for the same three-month period a year ago. Revenue for the recent quarter was $121 million, up 13% from the second quarter of 1993, when the company reported net sales of $107 million. Louis L.
July 12, 1994
Superior Industries International Inc., a Van Nuys-based supplier of aluminum wheels to the automotive industry, said it has made the first delivery of wheels from its new production plant in Chihuahua, Mexico. Louis L. Borick, the company's president and chairman, said the first shipment from the plant was sent via truck about July 1 to a Ford Motor Co. plant near Mexico City. Borick said a second shipment to a Chrysler plant in Mexico is expected this week.
July 5, 1994
Superior Industries International Inc., a Van Nuys maker of cast aluminum wheels, said General Motors Corp. has increased orders of its aluminum wheels for pickups by about 20% due to climbing sales of GM's light trucks. Superior projected that the additional orders will boost its revenues by about $10 million per year. The company said it will begin making the additional wheels in August and continue supplying them for the life of the product.