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Wednesday, Apr 24, 2024

Superior Finalizes Sale of Suspension Business

Superior Industries Inc. sold its suspension component business to a French firm, the company has announced. The sale to Saint Jean Industries comes 10 months after Van Nuys-based Superior announced the company’s board of directors authorized disposing of the suspension component business. Details of the sale were not disclosed. “This sale is an important step in our restructuring plan that allows us to focus all of our attention on the opportunities and challenges in our core aluminum wheel business,” said Superior CEO Steven Borick in a statement. At the end of 2005, the book value of the assets of the components business was approximately $44 million. Superior supplies aluminum wheel and other aluminum automotive parts for Ford, General Motors, DaimlerChrysler and other auto manufacturers.

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