Superior Industries Announces New Wheel Supply Program with Subaru
VAN NUYS, Calif.--April 12, 2006--Superior Industries International, Inc. announced today that it has been awarded a contract to supply 17-inch aluminum wheels for the 2007 Subaru. This is a new program for Superior."This program represents a significant increase in our volume with Subaru, and is our first contract win for this popular Subaru model. We are pleased to expand our relationship with Subaru," said President and Chief Executive Officer Steven Borick.
Borick added, "This is the latest success in our effort to grow our business with OEMs in Asia, which is a primary strategic objective for Superior. As we have anticipated for some time, intense competitive pressure in the global automotive industry is now beginning to create new opportunities for suppliers who successfully adapt to today's environment. This contract win shows that our strategy to use our financial and management resources to reduce costs, increase automation, and rationalize our global manufacturing capacity is positioning Superior to take advantage of these opportunities."
About Superior Industries
Superior supplies aluminum wheels and other aluminum automotive components to Ford, General Motors, DaimlerChrysler, Audi, BMW, Isuzu, Jaguar, Land Rover, Mazda, MG Rover, Mitsubishi, Nissan, Subaru, Toyota, and Volkswagen. For additional information, visit www.supind.com.
Forward-Looking Statements
This press release contains statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, estimates and projections about the company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors and risks discussed from time to time in the company's Securities and Exchange Commission filings and reports. In addition, such statements could be affected by general industry and market conditions and growth rates, and general domestic and international economic conditions. Such forward-looking statements speak only as of the date on which they are made and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.