VAN NUYS, Calif.—Alloy wheel supplier Superior Industries International Inc. plans to build a $125 million plant in Mexico to help boost its North American business.
CEO Steven Borick said the company is planning to build a factory capable of making 2 million to 2.5 million wheels a year. Production at the site is expected to begin in about two years.
Superior's existing capacity is for about 12.5 million wheels a year.
Borick put the plant investment at $125 million to $135 million. Site selection is under way, and funding is expected to come from existing finances, although the company is evaluating credit options, he said.
The executive said the firm also plans to improve operations in the U.S. and Mexico.
Superior claims to be the largest manufacturer of aluminum wheels for passenger cars and light-duty vehicles in North America, operating five plants in the U.S. and Mexico.