By Paulo Trevisani
Superior Industries International Inc. said Wednesday a weakening dollar increased its net debt in the second quarter.
The Southfield, Mich. maker of aluminum wheels said its net debt was $483.7 million as of June 30, up from $476.5 million on March 31. It said the variation "was driven by the appreciation of our Euro-denominated debt resulting from the Euro strengthening against the US-Dollar."
The company also said that FX rates were one of the factors behind a sales increase to $347.5 million from $144.8 million in the prior-year period.
According to Dow Jones Market Data, the U.S. dollar lost 1.1% versus the euro in the second quarter.
Write to Paulo Trevisani at firstname.lastname@example.org
Corrections & Amplifications
This item was corrected at 2:18 p.m. ET to show that net debt was $483.7 million as of June 30, up from $476.5 million on March 31. An earlier version incorrectly said that net debt $630.3 million as of June 30 up from $476.5 million three months earlier.
(END) Dow Jones Newswires