0000095552-13-000012.txt : 20130327 0000095552-13-000012.hdr.sgml : 20130327 20130327131318 ACCESSION NUMBER: 0000095552-13-000012 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20130327 ITEM INFORMATION: Other Events FILED AS OF DATE: 20130327 DATE AS OF CHANGE: 20130327 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SUPERIOR INDUSTRIES INTERNATIONAL INC CENTRAL INDEX KEY: 0000095552 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLE PARTS & ACCESSORIES [3714] IRS NUMBER: 952594729 STATE OF INCORPORATION: CA FISCAL YEAR END: 1226 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-06615 FILM NUMBER: 13719138 BUSINESS ADDRESS: STREET 1: 7800 WOODLEY AVE CITY: VAN NUYS STATE: CA ZIP: 91406 BUSINESS PHONE: 818-781-4973 MAIL ADDRESS: STREET 1: 7800 WOODLEY AVENUE CITY: VAN NUYS STATE: CA ZIP: 91406 8-K 1 a8-kothereventsxstockrepur.htm 8-K 8-K Other Events-Stock Repurchase Program


 
 
 
 
 



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
FORM 8-K
CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): March 27, 2013
 
SUPERIOR INDUSTRIES INTERNATIONAL, INC.
(Exact Name of Registrant as Specified in Its Charter)
 
California
1-6615
95-2594729
(State or Other Jurisdiction
 of Incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
7800 Woodley Avenue
Van Nuys, California
91406
(Address of Principal Executive Offices)
(Zip Code)
Registrant's Telephone Number, Including Area Code: (818) 781-4973
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
o    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 
 
 





Item 8.01 Other Events.

On March 27, 2013, Superior Industries International, Inc. ("Superior") announced that its board of directors has approved a new stock repurchase program authorizing Superior to repurchase up to $30 million of its common stock. This new repurchase program will replace Superior's existing share repurchase program. Under the repurchase program, Superior may repurchase common stock from time to time on the open market or in private transactions. Superior expects to fund the repurchases through available cash, although credit options are being evaluated in the context of total capital needs. The timing and extent of the repurchases will depend upon market conditions and other corporate considerations at Superior's sole discretion. Superior currently has approximately 27.3 million shares of common stock outstanding and had $207 million of cash, cash equivalents and short-term investments at the end of fiscal year 2012.

A copy of the press release dated March 27, 2013, announcing the company's stock repurchase program is incorporated herein by reference and is attached hereto as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits
 (d) Exhibits
 
99.1
Press release dated March 27, 2013.




 
 
 
 
 







SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
SUPERIOR INDUSTRIES INTERNATIONAL, INC.
 
(Registrant)
 
 
Date: March 27, 2013
/s/ Robert A. Earnest
 
Robert A. Earnest
 
Vice President, General Counsel and
 
Corporate Secretary
 
 


 
 
 
 
 



EX-99.1 2 a8-kex991pressrelease.htm EXHIBIT 8-K Ex99.1 Press Release


Exhibit 99.1


SUPERIOR
Investor Relations Line:
 
(818) 902-2701
www.supind.com
 
Contacts:
 
Superior Industries
 
 
Kerry Shiba
 
 
(818) 781-4973
 
NEWS RELEASE
 
 
PondelWilkinson Inc.
 
 
 
 
Robert Jaffe / Roger Pondel
 
 
 
 
(310) 279-5980
 
 
 
 
Investor@pondel.com

Superior Industries Board Approves Stock Repurchase Program

--Company Authorized to Purchase up to $30 Million of its Common Stock--

VAN NUYS, CALIFORNIA -- March 27, 2013 -- Superior Industries International, Inc. (NYSE:SUP) today announced that its board of directors has approved a stock repurchase program that authorizes the repurchase of up to $30 million of the company's common stock.

Under the repurchase program, Superior may repurchase common stock from time to time on the open market or in private transactions. The company expects to fund the repurchases through available cash, although credit options are being evaluated in the context of total capital needs. The timing and extent of the repurchases will depend upon market conditions and other corporate considerations at the company's sole discretion. Superior currently has approximately 27.3 million shares of common stock outstanding and had $207 million of cash, cash equivalents and short-term investments at the end of fiscal year 2012.

“The board's action follows our recent announcement to invest approximately $125 million to $135 million to construct and equip a new manufacturing facility in Mexico to expand capacity and meet anticipated growth in product demand,” said Steven J. Borick, Chairman, Chief Executive Officer and President. “Authorization of the stock repurchase program reflects the board's and management's confidence in the company's fundamentals and its long-term future, along with our commitment to enhancing shareholder value.”

About Superior Industries
Superior is the largest manufacturer of aluminum wheels for passenger cars and light-duty vehicles in North America. From its five plants in both the U.S. and Mexico, the company supplies aluminum wheels to the original equipment market. Major customers include Ford, General Motors, Chrysler, BMW, Mitsubishi, Nissan, Subaru, Toyota and Volkswagen. For more information, visit www.supind.com.

Forward-Looking Statements
This press release contains statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements, which include, but are not limited to, anticipated growth in product demand and the company's plans to purchase up to $30 million of its common stock, are based on current expectations, estimates and projections about the company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors and risks discussed from time to time in the company's Securities and Exchange Commission filings and reports, including the company's Annual Report on Form 10-K for the fiscal year ended December 30, 2012. These factors and risks relate to items including, but not limited to, fluctuations in the market price and trading volume for our common stock, general automotive industry and market conditions and growth rates, as well as general domestic and international economic conditions. Such forward-looking statements speak only as of the date on which they are made and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.