Superior Industries Restructures Van Nuys Facility
Superior Industries International, Inc is restructuring its manufacturing facility in Van Nuys, California, laying off approximately 375 employees, out of 635 manufacturing employees. Superior’s corporate offices and 125 corporate staff, which also are located at this facility, will not be affected by the downsizing. The company reports that manufacturing will continue despite the job cuts.
“Going forward, our Van Nuys facility will concentrate on specialty operations. By focusing on our strengths, we believe this facility will be profitable at lower volumes,” said president and CEO Steven Borick. “This is the latest step in our program to rationalise our production capacity to more effectively balance plant utilization and location against our customers’ changing requirements for pricing, wheel size, design, delivery, scheduling and volume.”
At December 31, 2005, the book value of the manufacturing assets at the Van Nuys location was approximately $35 million.