Superior Expects Gain of $2.3 Million in Quarter
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Superior Industries International Inc. said it will record a net gain of about $2.3 million in the fourth quarter to reflect its insurance reimbursement for a fire that damaged its chrome-plating plant in Van Nuys.
Superior, a leading maker of wheels for the major auto makers, said the gain stems from a settlement it reached with its insurance carrier in connection with the fire last May 24. The insurer was not identified.
The fire also “did not significantly disrupt” Superior’s chrome-plating operations, because the company was able to assign the business to outside suppliers, Superior Chairman Louis L. Borick said in a statement.
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