Superior to cut U.S. workforce by 29%

[DainBramaged]

Aluminium wheel maker Superior Industries International Inc. said it will be reducing 29 percent of its U.S. workforce and close a plant in Kansas, as part of a plan to cut costs.

The company, which supplies cast and forged aluminium wheels to the automobile and light truck makers, will cut 755 positions and close its Pittsburgh plant, effective December 19, 2008. About 600 positions are likely to be affected by the plant closure alone.

Superior Industries expects to record severance and impairment charges of about $1.8 million over the next six months, due to the plant closure.

The company also expects to incur additional severance costs of $296,000 related to the additional layoffs.

In a statement, the company also said asset impairment charges are yet to be determined, but will be recorded in the current quarter ending Sept. 30.

"The plant closure is necessary to eliminate excess wheel production capacity, enhance our overall efficiency, and move production to other manufacturing plants to improve our global capacity utilization," CEO Steven Borick said.

Superior ranks No. 56 on the Automotive News list of the top 150 suppliers in North America with North American original-equipment automotive parts sales of $957 million in 2007.
http://www.autonews.com/apps/pbcs.dll/article?AID=/20080819/ANA02/113721/-1/BREAKING

My bet is they are going to shift production overseas or to Mexico. bet my wrinkled old ass!!!

[snappyturtle]

1. Trickle down economics? Isn't that when the money at the top slowly

trickles down to us peons? On second thought...............!

[madrchsod]

2. no more monster wheels for suv and big trucks

not enough money to afford these big tire/wheel combos. those combo`s are showing up on craigslist....

[DainBramaged]

3. You don't get it, why bother posting?

They make MILLIONS of wheels for ALL TYPES OF VEHICLES. Look them the fuck up on Google. Jesus.


Their MAJOR customers include,

Ford, General Motors, Chrysler, Audi, BMW, Fiat, Jaguar, Land Rover, Mazda, Mercedes Benz, Mitsubishi, Nissan, Seat, Skoda, Subaru, Suzuki, Toyota, Volkswagen and Volvo


Why throw shit at a clean window?

[DainBramaged]

4. Plants outside of the US

CHIHUAHUA PLANT
Superior Industries De Mexico, S.A. De C.V.
Ave. Juan Ruiz De Alarcon #306
Complejo Industrial Chihuahua
Chihuahua, Chihuahua Mexico 31109
Phone: [phone]
Fax: [phone]


CHIHUAHUA PLANT
Superior Industries De Mexico, S.A. De C.V.
Vialidad Oriente #7100
Parque Industrial Chihuahua Sur
Chihuahua, Chihuahua Mexico 31109
Phone: [phone]
Fax: [phone]

CHIHUAHUA PLANT
Superior Industries De Mexico, S.A. De C.V.
Ave. Nicolas Gogol #11354
Complejo Industrial Chihuahua
Chihuahua, Chihuahua Mexico 31109
Phone: [phone]
Fax: [phone]

HUNGARY PLANT
Suoftec
2800 Tatabanya
Buzavirag U. 12, Hungary
Phone: [phone]
Fax: [phone]

[angryfirelord]

5. Re:

"My bet is they are going to shift production overseas or to Mexico. bet my wrinkled old ass!!!"

You can throw my shiny metal ass in the bet too. :) China has a 24% import tariff (7% charge, 17% tax) and it's certainly helped keep jobs in the country. It's time to roll back the Bush tax cuts to Clinton levels and increase the tariffs. China did it, India did it, Britain did it, heck WE did it when we were building our industry and you know what? Protectionism does what it's supposed to: Protect. It's time we raised the import tariffs and slowed the flow of cheap Chinese and Mexican products. Globalization is not good for our economy.