Superior Industries Plans to Double Capacity At Its OEM Aluminum Suspension Components Manufacturing Facility
22 August 2000
Superior Industries Plans to Double Capacity At Its OEM Aluminum Suspension Components Manufacturing Facility
VAN NUYS, Calif.--Aug. 22, 2000--To accommodate growing orders, Superior Industries International Inc. announced today that it plans to double the size of its dedicated OEM aluminum suspension components manufacturing facility in Heber Springs, Arkansas with a 150,000 square foot plant expansion, bringing the total facility to nearly 300,000 square feet."Automotive analysts estimate that OEM aluminum suspension and related underbody components could become a multi-billion dollar industry in a few years. We agree, and have been aggressively positioning Superior to take advantage of this extraordinary opportunity," said a company spokesman.
"In 1998 we obtained exclusive rights to an advanced hybrid manufacturing technology that combines the design flexibility, light weight and cost advantages of casting with improved strength characteristics, an ideal combination for this application. Last year we assembled an outstanding team of senior marketing and engineering executives and they have been aggressively pursuing new orders. Accordingly, the 142,000 square foot facility we purchased a year ago to house the operation already needs to be expanded. That's why we have decided to double the size of the new plant even before the facility is scheduled to go into production," a company spokesman explained.
"Our success in so rapidly developing this new business reflects our strength in the market for OEM aluminum road wheels. The keys to the wheel business -- the ability to design, manufacture, and deliver sophisticated high volume automotive products to our customers in a timely manner -- also are opening doors for us in the OEM aluminum suspension components market. We are increasingly optimistic that the suspension components business has the potential to become a significant contributor to our company in the years ahead," the spokesman added.
About Superior Industries
Superior supplies aluminum wheels and other aluminum automotive components to Ford, General Motors, DaimlerChrysler, BMW, Volkswagen, Audi, Rover, Toyota, Mazda, Mitsubishi, Nissan and Isuzu.
The statements contained in this release which are not historical facts may be deemed to constitute forward-looking statements. Actual results might differ materially from those projected in such statements due to a number of risks and uncertainties, including, without limitation, demand and competition for the company's products, and other risks or uncertainties detailed in the company's filings with the Securities and Exchange Commission.