Superior To Sell Suspension Components Business
Superior Industries International, Inc has announced that its board of directors has authorised management to engage an investment banker and/or other advisors to explore options for disposal of the company’s suspension components business.
“Today’s intense competition in the global automotive industry makes it imperative that Superior focuses all of its resources on its expanding aluminium wheel business,” said CEO Steven Borick. He said that all components orders would continue to be delivered as scheduled.
At 31 December 2005, the book value of the assets of the components business was approximately $44 million.