Superior Industries Reports Financial Results for the First Quarter 2007
VAN NUYS, CA — Superior Industries International has announced financial results for the first quarter of 2007. Unit wheel shipments increased 16.1 percent. "We are encouraged by this substantial rebound in shipments resulting from new program awards from our customers. We remain increasingly confident that our multi-year restructuring program is positioning Superior to achieve our
Superior Industries Announces Retirement of CFO Jeffrey Ornstein
VAN NUYS, CA — Superior Industries International has announced the retirement of Jeff Ornstein from his position as chief financial officer and a member of the company’s board of directors. Ornstein, 65, joined the company in 1984 as CFO and was named to the Board in 1991. Emil "Bud" Fanelli, vice president and corporate controller
Superior Industries Reports Fourth Quarter and 2006 Results
Superior Industries International has announced financial results for the fourth quarter and 2006. For the three months ended Dec. 31, 2006 revenue increased 3 percent to $212,169,000 compared to $205,901,000 for the fourth quarter of 2005. Unit wheel shipments decreased 9.3 percent, which reduced capacity utilization and profitability.
Ken Stakas Named Senior Vice President of Manufacturing at Superior Industries
VAN NUYS, CA — Ken Stakas has been named to the new position of senior vice president of manufacturing for Superior Industries International. Stakas, 55, joins Superior after serving since 2000 as vice president of operations for Amcast Automotive, Components Group. Earlier, he served in various management positions of increasing responsibility with Winters Industries, LeSueur
Superior Industries Names Margaret Dano and Francisco Uranga to Its Board of Directors
VAN NUYS, CA — Superior Industries International has announced the appointment of Margaret Dano and Francisco Uranga to the company’s board of directors. Dano and Uranga succeed Raymond Brown, former senior vice president of Superior and a board member since 1972, and Jack Parkinson, a board member since 1983, who resigned from the board on
Superior Industries Completes Sale of Suspension Components Business
VAN NUYS, CA — Superior Industries International said today it has completed the sale of its suspension components business to Saint Jean Industries, a French company. The company expects no material adjustment to the reserve recorded in the fourth quarter of 2005 in connection with this transaction. "This sale is an important step in our
Superior Industries to Close Tennessee Plant
Superior Industries International announced it will close its manufacturing facility in Johnson City , TN , resulting in a layoff of approximately 500 employees. The company expects to incur severance and other costs related to the layoffs of approximately $1 million over the next six months.
Superior Industries Lays Off 225 at Arkansas Plant
Superior Industries has announced the layoff of approximately 225 employees at its chrome plating facility in Fayetteville, AR, in connection with the company’s decision to restructure this business. The plant’s bright polish operation was not affected.
Superior Industries Restructuring California Manufacturing Facility
Superior Industries International has announced plans for the restructuring of its manufacturing facility in Van Nuys, CA. Approximately 375 of the company’s 635 manufacturing employees will be laid off as a result. No corporate staff will be affected by the layoffs. Superior President and CEO Steven Borick said going forward the facility will concentrate on specialty operations.
Superior Industries to Sell Suspension Components Business
The board of directors for Superior Industries International, Inc., an OE-supplier of aluminum wheels and other aluminum automotive components, has authorized the company’s management to engage an investment banker and/or other advisors to explore options for the sale of the company’s suspension components business.