One month after posting the quarterly loss, Superior announced that Borick and his family, controlling approximately 53 percent of the company, had granted Alumax Inc.-a fabricated aluminum products maker-an option to purchase the Borick family's holdings. In April of that year, Superior posted its first-ever quarterly loss, of $1.4 million, and the company suspended payment of its regular quarterly dividend. In 1980 Superior's drive toward increased sales hit a major bump when demand for its wheels began sliding along with sales of new Ford and Chrysler vehicles. Looking to expand its manufacturing capabilities for aftermarket automotive accessories, Superior opened a manufacturing facility in 1979 in Arecibo, Puerto Rico, to produce steering wheel covers and seat belts. By 1979 Superior was producing OEM wheels for seven car models. During the mid-1970s rising gas costs and the need for more fuel-efficient automobiles helped accelerate interest in Superior's light-weight aluminum tires, and in 1976 the company began producing aluminum wheels for Chrysler Corporation and General Motors (GM) passenger cars as well as chrome-plated steel wheels for Dodge trucks. In 1976 Superior constructed a new corporate headquarters and 300,000-square-foot OEM wheel-making facility in Van Nuys. In 1973 Brown secured Superior's initial purchase order to supply Ford Motor Company with its first cast aluminum wheel, and a year later the company officially entered the OEM market when its aluminum wheels debuted on Ford's Mustang II. Brown, made numerous trips to Detroit during the early 1970s in an effort to court major auto makers. Targeting those sales, Superior's senior vice-president, Raymond C. But Superior's principal focus during its early years as a corporation was on improving its production standards in order to gear up its aluminum wheels for the OEM market, which offered a consistent customer base and improved profitability through volume sales. In 1973, in its first major strategic acquisition, Superior paid $1.5 million to acquire Ideal Manufacturing Company, an aftermarket producer of recreational vehicle (RV) accessories-including running boards and RV trailers-with production facilities in Iowa and Canada. With operations expanding, Superior's annual sales motored upward to $13.7 million in 1971 and $16.5 million in 1972. The following year the company purchased Industrias Universales Unidas De Mexico, S.A., and used the Mexican company's operations to establish an aftermarket road wheels polishing plant in Tijuana. In 1970 Superior added low-pressure aluminum casting wheels to its aftermarket product line.
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Before its first full decade closed, Superior recorded annual sales of more than $2 million. Riding on the success of its chrome wheels, Superior became a public corporation in 1969, offering an initial 320,000 shares of common stock, with the proceeds going toward bank debt. In 1967 Superior added plating facilities to its manufacturing operations and began producing chrome-plated steel wheels for the automotive aftermarket. During the mid-1960s Superior's product line was expanded to include other automotive aftermarket products, such as steering wheel covers, custom steering wheels, and spring and suspension systems. In 1961 the company constructed a new, 25,000-square-foot manufacturing plant in Van Nuys, and the following year it introduced its second major product, safety belts. In 1957 the company debuted its first product, a radiator bug screen, which earned Superior a modest $27,000 in sales its first year. The company set up its headquarters in Van Nuys, California, and Borick, who had become a car fanatic as a teenager after landing a job in a Minnesota auto parts shop, became president and chief executive of Superior. Borick established Superior Industries International to manufacture and supply popular products for a burgeoning automotive aftermarket. Superior designs, manufactures, and markets automotive products for both the original equipment manufacturer (OEM) market and for the automotive aftermarket, specializing in custom road wheels as well as steering wheel covers, lighting products, and suspension products. SICs: 3714 Motor Vehicle Parts and Accessoriesįounded initially to make radiator bug screens, Superior Industries International, Inc., has grown to be the largest aluminum wheel manufacturer in the world and the principal supplier of cast aluminum wheels to the North American automotive industry.
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