Superior earnings dented by lower metal tags
Mar 07, 2014 | 01:05 PM
| Michael Cowden
CHICAGO Superior Industries International Inc.s profits narrowed by 26.1 percent in 2013 amid lower aluminum prices and shipping volumes.
But cost-cutting efforts in the United States bolstered results in the fourth quarter, the Van Nuys, Calif.-based aluminum wheels maker said in commentary released with its earnings results March 7.
The fourth-quarter gains came as the company slashed costs at its U.S. facilities by boosting productivity, cutting jobs, and reducing repair and maintenance expenses, Superior said. However, shipments slipped to 2.9 million units in the fourth quarter, down 9.4 percent from 3.2 million units in the same period a year ago, the company....
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