As reported yesterday, a wholly owned subsidiary of Superior Industries International has commenced insolvency proceedings in Germany. The outcome of this process will decide the fate of the company’s Werdohl aluminium wheel manufacturing facility, and Superior will make its decision within a matter of months.
Earlier today, Superior Industries Production Germany GmbH (SPG), a wholly owned subsidiary of US-headquartered aluminium wheel supplier Superior Industries International, Inc., filed voluntary petitions for preliminary insolvency proceedings. Superior Industries calls this step a “strategic action” to “further enhance competitiveness.”
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