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Wednesday, Jun 7, 2023

Superior Receives Top Supplier Award

Superior Industries Inc. was recognized as a General Motors supplier of the year for the seventh consecutive year, the company announced Monday. The Van Nuys-based manufacturer of aluminum wheels received the “Best of the Best” award for its overall business performance in providing GM with parts and service. “This award is a tribute to our commitment to providing our customers only the best products and services, year after year,” said Superior President and CEO Steven Borick, in a statement. “We look forward to continuing to earn GM’s confidence in the years to come.” Superior has struggled in the past year, closing plants in Johnson City, Tenn. and Fayetteville, Ark., reducing capacity at the Van Nuys facility and selling its aluminum suspension component business. On the flip side, it has completed construction of a new plant in Chihuahua, Mexico for making large-diameter wheels. For the fourth quarter ending Dec. 31, Superior reported a net loss of $4.8 million, or $0.18 per diluted share, on revenues of $212 million. That is down significantly from a loss of nearly $20 million, or $0.75 per diluted share, on revenues of $206 million for the same reporting period in 2005.

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