AUTO SUPPLIER TAKING A SPIN WITH JEEP.Byline: Gregory J. Wilcox Wilcox may refer to: Place names in the United States
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VAN NUYS - New Jeeps will sport wheels from Superior Industries International Inc. for the first time, the company announced Tuesday Tuesday: see week. , a much-needed boost for the auto supplier. Speedy turnaround Turnaround A situation where a company that has had poor performance for an extended period of time experiences a positive reversal. Notes: A speculator may profit from a turnaround if he or she accurately anticipates the improvement of a poorly performing company. proved essential, too, in Van Nuys-based Superior's winning four wheel contracts in its initial deal with the rugged DaimlerChrysler nameplate. Two lines were developed on what's known as ``quick-to-market'' program schedules to meet the cosmetic cosmetic /cos·met·ic/ (koz-met´ik) 1. pertaining to cosmesis. 2. a beautifying substance or preparation. cos·met·ic n. requirements of Jeep, the company said. Superior's aluminum wheels, some of which are made at the Van Nuys plant, are now standard equipment on Jeep's 2005 Grand Cherokee and Liberty models. Each model will be available with two wheel designs. The company was already a DaimlerChrysler supplier, but this deal is a key development. Chrysler was a customer when R. Jeffrey Ornstein, now vice president and chief financial officer, started work at the company in 1984. But the company gradually lost some of that business. While Chrysler has been buying Superior wheels for some brands, the company wanted to expand sales. ``We have been trying to restore our relationship with them, so we are happy to have them back,'' Ornstein said. The companies are not releasing how many units are involved. But it's good news, especially since Superior earlier this month said that third-quarter earnings would be below Wall Street's expectations because of weak vehicle sales and a 5 percent decline in wheel shipments. Superior, which also makes other aluminum vehicle parts, now expects earnings of 20 cents a share, well under the street's estimate of 39 cents. Analyst Doug Christopher at Crowell, Weedon & Co. in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. said the deal extends what's already a broad reach by Superior. ``I think that's a good thing. The company is doing good business with all the manufacturers,'' he said. ``The company just continues to move along, but their customers do want better prices all the time.'' Those customers include Ford Motor Co., General Motors Corp., Audi, BMW BMW in full Bayerische Motoren Werke AG German automaker. Founded as an aircraft engine manufacturer in 1916, the company assumed the name Bayerische Motoren Werke and became known for its high-speed motorcycles in the 1920s. , Isuzu, Jaguar, Land Rover See LANRover. , Toyota and Volkswagen. Gregory J. Wilcox, (818) 713-3743 greg.wilcox(at)dailynews.com |
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