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Sunday, Aug 14, 2022
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Superior Invests in Indian Wheel Maker

Aluminum wheel manufacturer Superior Industries International Inc. has acquired a stake in an Indian company making wheels for major car makers. Van Nuys-based Superior has bought 8.7 percent of outstanding shares in Synergies Castings Limited with an agreement to purchase additional shares by the end of the year to bring Superior’s ownership to 26 percent. Synergies is a global aluminum alloy wheel manufacturer with existing contracts to supply Toyota, General Motors USA and Chrysler USA. The investment by Superior is an excellent opportunity given the growing automotive market in India, said company Chairman, CEO and President Steven J. Borick. Automotive market forecasting firm CSM Worldwide projects a 14 percent increase in light vehicle sales in India in 2011. Mark R. Madler

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