Superior Industries Plans to Acquire Canadian Firm
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Superior Industries, a Van Nuys-based maker of wheel rims for cars, said it plans to acquire NT&M; Ltd., a Canadian maker and distributor of such auto accessories as lamps and mirrors.
Terms of the deal were not disclosed. Toronto-based NT&M; has annual sales of about $6 million. Superior reported sales of $130.8 million in 1985.
In a prepared statement, Superior Chairman Louis L. Borick said the deal would help his company expand its aftermarket auto division and provide a marketing network in Canada.
Superior also said it completed the purchase of a 160,000-square-foot building in Fayetteville, Ark. After renovation, the building will become Superior’s third wheel-rim plant. The others are in Van Nuys and suburban Toronto.
Superior said it has spent $12 million to acquire and renovate the building. The company plans to begin production there by the end of the year.
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