Shipments of aluminum wheels from Superior Industries International Inc. hit a 10-year low for the third quarter. The Van Nuys-based manufacturer reported a 29 percent drop in unit shipments, primarily for the light truck and sport utility vehicle markets. The company has been impacted by the major automakers cutting back in the production of light trucks and SUVs and delaying the availability of 2009 light truck models. The company had a net loss of $14.2 million, or $0.53 per diluted share, on revenues of $163.4 million for the quarter ending Sept. 30. For the same period in 2007, the company reported a net loss of $739,000, or $0.03 per diluted share, on revenues of $227.6 million. During the quarter, the company announced it would close a manufacturing plant in Kansas and layoff 755 workers in order to reduce costs. The continued drop in vehicle production and the weak economy forces Superior to pursue additional cost cutting measures to return to profitability, said Chairman, CEO and President Steven Borick.
