Superior Industries International, Inc. (NYSE:SUP) today
announced it has selected the city of Chihuahua as the site where it
will build a new manufacturing facility in Mexico to expand capacity and
meet anticipated growth in product demand. The company and the state of
Chihuahua have agreed in principle to a series of incentives that
reflect a continued partnership between Superior and the state. Superior
currently has three manufacturing facilities in the city of Chihuahua.
“Our positive discussions with the state government of Chihuahua
exemplify the cooperative relationship that has existed for the twenty
years that Superior has been operating in Mexico,” said Steven J.
Borick, Chairman, Chief Executive Officer and President. “Our team of
employees in Chihuahua is a critical part of our success and we are
excited to be able to commit to providing more opportunities there. I
personally want to thank Governor César Duarte and Secretary of Economy
Álvaro Navarro for providing a commitment back to Superior with
incentives that address capital and operating cost and expanding the
pool of talented employees needed as we grow.”
Superior previously announced that it intends to invest approximately
$125 million to $135 million to construct and equip the new
manufacturing facility, which will have an initial capacity to produce
between 2 million and 2.5 million wheels a year. The company currently
produces approximately 12.5 million wheels annually. Groundbreaking is
targeted for around the middle of 2013 and completion of construction
anticipated about two years later.
About Superior Industries
Superior is the largest manufacturer of aluminum wheels for passenger
cars and light-duty vehicles in North America. From its five plants in
both the U.S. and Mexico, the company supplies aluminum wheels to the
original equipment market. Major customers include Ford, General Motors,
Chrysler, BMW, Mitsubishi, Nissan, Subaru, Toyota and Volkswagen. For
more 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, which include, but are not limited
to, the company’s plans to construct a new manufacturing facility in
Mexico, the location, cost, capacity or time of groundbreaking for a new
manufacturing facility and government incentives related to the location
of the new manufacturing facility 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, including the company's Annual Report on
Form 10-K for 2012 once filed. These factors and risks relate to
items including, but not limited to, general automotive industry and
market conditions and growth rates, as well as 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.
