secwatch.observer — SEC 8-K summary
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Issuer:     SUPERIOR INDUSTRIES INTERNATIONAL INC (—)
CIK:        0000095552
Form:       8-K
Filed at:   2023-08-31T23:59:59+00:00
Accession:  0000950170-23-045613
Event type: other_material
Sentiment:  negative
Materiality: 0.80
Item codes: 2.01, 2.06, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Superior's German subsidiary files insolvency; expects $81.7M non-cash charge
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- SPG filed voluntary preliminary insolvency proceedings in German court; deconsolidation effective Aug 31, 2023.
- Superior expects ~$81.7M non-cash charge in Q3 2023 for excess carrying value over fair value of SPG interest.
- SPG represents ~6% of Superior's footprint; U.S., Mexico, Poland operations not impacted.
- No default under Superior's debt agreements; company maintains strong liquidity.
- Pro forma net loss of $26.4M for FY2022 after deconsolidation; no discontinued ops presentation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/95552/000095017023045613/0000950170-23-045613-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/95552/000095017023045613/sup-20230831.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-045613

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