Superior President and CEO Don Stebbins called the deal a "highly transformative and synergistic transaction that will deliver meaningful benefits to all of the stakeholders and positions the combined company extremely well for future growth.
"The acquisition immediately establishes us as a leading global supplier of aluminum wheels, diversifies our customer base and end markets, expands our geographic reach and creates a platform to better serve our global customers," he said.
Uniwheels Chairman and CEO Thomas Buchholz added: "The combination brings together highly complementary product technologies and manufacturing processes, creating global scale and positioning the business for profitable and sustainable growth."
Southfield-based Superior describes itself as the largest manufacturer of aluminum wheels in North America for passenger cars and light-duty vehicles, with one plant in the U.S. and four in Mexico.
Superior's primary customers include BMW North America; Fiat-Chrysler Automobiles; Ford Motor Co.; General Motors Co.; Mazda; Nissan North America; Subaru; Tesla; Toyota and Volkswagen of America.