Superior to Increase Wheel Production
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Superior Industries International Inc. said Monday that it plans to expand manufacturing capacity about 25% in the next two years because automakers are using more aluminum wheels.
The second-largest maker of wheels for cars and light trucks will increase production at factories in Pittsburg, Kan., and Fayetteville, Ark., Superior said. Company officials were not available for comment.
Superior last month posted a 65% gain in third-quarter net income to $17.7 million on a sales increase of 28% to $187.4 million. The Van Nuys-based company also said it won new aluminum-wheel contracts from General Motors Corp. for the Hummer H2 and Cadillac Escalade sport utility vehicles and the Buick LeSabre sedan.
The company said it added production capacity during the last few years at plants in Rogers, Ark., and Van Nuys, as well as building a factory in Mexico.
Superior shares fell 83 cents to $40.73 on the New York Stock Exchange. The stock has gained 1.2% this year.
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