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Sunday, May 26, 2024

Superior Closing Van Nuys Plant, Cutting 290 Jobs

Lower demand for aluminum wheels has forced Superior Industries International Inc. to close its manufacturing facility in Van Nuys. The closure will result in the loss of 290 jobs, or about 9 percent of the company’s total workforce. The move saves the company $16.5 million in labor costs. The decision to close the Van Nuys plant was difficult because it was where Superior launched its aluminum wheel business 30 years ago, said Chairman, CEO and President, Steven Borick. “Nevertheless, it is imperative to right size our capacity in line with current and projected vehicle production while maintaining the leverage for future business opportunities,” Borick said. “We are committed to coming out of this unprecedented business downturn as a stronger, leaner company.” The closure will be completed by the end of the second quarter. The value of manufacturing equipment and other assets totals about $17 million. In December, Superior closed a manufacturing plant in Kansas that was a primary provider of light truck and SUV wheels particularly to General Motors Corp. Superior has five remaining plants in North America and a joint venture in Hungary.

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