April 28, 1998
Superior Industries International Inc. said that it has been awarded an exclusive contract to supply aluminum wheels as standard equipment for General Motors' Cadillac De Ville. Under this contract, Superior will begin shipments this month from its Fayetteville, Ark., plant to Cadillac's assembly plant in Hamtramck, Mich. Superior did not reveal the dollar value of the contract, but said it "represents substantial incremental business" for the company.
October 28, 1997
Superior Industries International Inc. has opened an auto parts manufacturing plant near Budapest, Hungary. The plant is a joint venture between Superior and Otto Fuchs MetallWerke, a German manufacturing concern. The plant will manufacture aluminum car wheels for the European market. Superior, which is based in Van Nuys, is a major supplier of aluminum car wheels to the Big Three auto makers, as well as to European and Japanese car companies.
July 1, 1997
Superior Industries International Inc. said it received a multimillion-dollar order to supply aluminum wheels for Ford's Expedition sport-utility vehicle. The deal is to supply wheels for the 1998 model year, with shipments beginning late this month. In May, Superior got a contract from Ford to supply aluminum wheels for its new 1998 Lincoln sport-utility vehicle.
June 10, 1997
Superior Industries International Inc. was awarded a multimillion-dollar contract from Ford Motor Co. to supply aluminum road wheels for the F-150 pickup truck through the 1998 model year, the company announced. The Van Nuys company was previously awarded another multimillion-dollar contract to supply three aluminum road wheel styles for Ford's 1998 Lincoln Navigator sport utility vehicle, including a chrome-plated version, the company said.
February 18, 1997
Superior Industries International posted a 4% rise in net income in its fourth quarter, despite a 5% decline in sales. The Van Nuys-based maker of car wheels had net income of $12.9 million in the quarter that ended Dec. 31, compared to net income of $12.4 million a year earlier. Sales in the latest quarter were $124.8 million, down from $131.7 million in the same period a year earlier. The company said part of its results reflected the impact of a General Motors strike during the quarter.
December 17, 1996
Superior Industries International Inc. said that German auto maker Audi has awarded a big contract of aluminum car wheels to Superior's joint venture company in Hungary. Superior Industries, based in Van Nuys, is a major supplier of aluminum car wheels to American and Japanese car companies. But it has also set up SOUFTEC, a joint venture that operates in Hungary with its German partner, Otto Fuchs Metallwerke.
October 15, 1996
Superior Industries International Inc., a Van Nuys manufacturer of aluminum auto wheels, reported a 38% jump in its third-quarter earnings despite a two-week closure of its plant due to Ford Motor factory closings. In the three months ended Sept. 30, Superior earned $11.4 million, up from net income of $8.29 million a year earlier. Its sales grew 6%, to $120.4 million from $113.2 million. For the nine-month period, Superior reported that its profit fell 17%, to $34 million from $40.
March 26, 1996
Superior Industries International Inc., a Van Nuys supplier of aluminum auto wheels, said its first-quarter earnings would be about 25% below analysts' expectations because of the General Motors strike that was settled earlier this month. The company said the strike forced it to curtail production at two of its largest facilities, in Kansas and Tennessee. General Motors accounts for 45% of Superior's shipments to auto manufacturers.
December 19, 1995 |
A class-action shareholder lawsuit has been filed against Superior Industries International Inc., accusing the Van Nuys auto wheel manufacturer of fraudulently manipulating its stock price. The complaint, filed in U.S. District Court in Los Angeles earlier this month by shareholder Barry L. May, states that the company and its executives made "false and misleading statements" about Superior's business and profit potential in order to artificially inflate its stock price.
September 26, 1995
Superior Industries International Inc. has reinstated a stock repurchase plan so the company may buy back up to 1 million shares of its common stock. The Van Nuys-based company manufactures aluminum wheels for the Big Three auto makers and various European and Japanese car companies. A stock repurchase plan is often used by companies in hopes of driving up the price of its stock by shrinking the number of shares available on the open market. The company has 29.