Superior Industries International, Inc., supplier of light vehicle aluminium wheels for OEMs and the European aftermarket, today announced the refinancing of its Term Loan and Revolving Credit Facilities. Commenting on this development, Majdi Abulaban, president and chief executive officer, stressed that “Superior remains well-positioned to drive profitable growth.”
Anyone searching for Superior Industries Europe’s stand at next year’s The Tire Cologne will look in vain. The wheel manufacturer says it won’t exhibit at the trade show. Gerald Steinmann, Superior Industries’ director of marketing and e-commerce for the aftermarket, explains why.
Aluminium wheel manufacturer Superior Industries International, Inc. has appointed a permanent successor to Don Stebbins, who retired as the company’s president and chief executive officer at the end of last year. Majdi B. Abulaban will start in both roles on 15 May 2019, taking over from executive chairman, Timothy McQuay, who assumed all Stebbins’ duties once the latter’s departure was announced.
Declining car production in the UK has contributed towards lower wheel unit shipments in the third quarter of 2018, reports Superior Industries International, Inc. Compared with the prior-year period, Q3 2018 shipments were down 300,000 units to 4.7 million.
Aluminium wheel supplier Superior Industries International, Inc. has appointed Richard J. Giromini to its Board of Directors. With the addition of Giromini, the size of Superior’s board increases to nine directors, eight of whom are independent.
Record unit shipments and net sales were the headline news upon the release of Superior Industries International Inc.’s financial results for the second quarter of 2018 – a performance resulting from the company’s acquisition of Uniwheels last year. The company has also slightly raised its income and EBITDA projections for the entire year.
Aluminium wheel manufacturer Superior Industries International, Inc. reports shipping 5.5 million units in the first quarter of 2018, a 94.8 per cent increase compared with the first three months of last year. This sizeable improvement was primarily due to the inclusion of the company’s European operation in this year’s results but was also driven by higher unit shipments in North America.
As of this season, ATS is exclusive wheel supplier to the Formula 4 championship. The Superior Industries-owned brand now announces it has also entered into a partnership with US Racing, the race team belonging to former F1 driver Ralf Schumacher. Under this arrangement, ATS will cooperate in testing carried out by the team.
The board of directors at tool and workshop equipment manufacturer Snap-on Incorporated has appointed Donald J. Stebbins, president and chief executive officer of wheel manufacturer Superior Industries International, a company director. This directorship takes effect 4 January 2015. Stebbins also serves as a director at Superior Industries and at WABCO Holdings, a provider of electronic, mechanical and mechatronic products.
North America’s largest manufacturer of aluminium car and truck rims, Superior Industries International, slid into the red in the third quarter of the 2014 financial year. The company reports a net loss of US$2.4 million due to quarter expenses of $6.9 million, which were largely associated with the upcoming closure of Superior’s factory in Rogers, Arkansas. Net sales for the third quarter decreased eight per cent to $176.4 million. Third quarter unit shipments fell 11 per cent from the corresponding prior year period to 2.6 million units versus 2.9 million units in 2013.
Steven J. Borick intends to retire as chief executive officer and president of Superior Industries International early next year, and the company’s board has commenced a search for his successor. Borick will relinquish these three roles at the US-based aluminium wheel manufacturer on 31 March 2014, however he will remain chairman and assist with the management transition.
Wheel manufacturer Superior Industries International has reported a slightly lower year-on-year net income for the second quarter of 2012. Net income decreased from US$6.4 million a year ago to $6.3 million in the March to June quarter.
As of 2015, Super Industries International will expand its portfolio of Chihuahua-made wheels. The North American aluminium wheel manufacturer announced on 16 April that its new manufacturing facility in Mexico will be erected in the city of Chihuahua. Superior Industries says it and the state of Chihuahua have “agreed in principle to a series of incentives that reflect a continued partnership between Superior and the state.” Superior already operates three manufacturing facilities in the city.
In addition to reporting its 2012 results, US-based aluminium wheel manufacturer Superior Industries International, Inc. has announced plans to build a new manufacturing facility in Mexico to expand capacity and meet anticipated growth in product demand.