VAN NUYS, Calif. — Superior Industries International has entered into a definitive agreement to sell its 50 percent equity stake in Suoftec Light Metal Products Production & Distribution Ltd., the company’s joint venture manufacturing facility in Hungary.
Under the agreement, Superior will sell its entire ownership interest in Suoftec to its partner in the joint venture, OTTO FUCHS KG, based in Meinerzhagen, Germany.
“While we are proud of our long-standing success in partnership with OTTO FUCHS KG and our Suoftec joint venture, this transaction will allow us to open the door to other investment opportunities in emerging markets,” said Chairman, President and CEO Steven Borick.
