Financial Overview

(in million USD)

	FY ended Dec. 31, 2012	FY ended Dec. 31, 2011	Rate of change (%)	Factors
Net Sales	821.5	822.2	(0.1)	1)
Operating Income	32.9	39.8	(17.3)	2)

Factors
1) Net Sales
-Net sales in 2012 decreased USD 0.7 million to USD 821.5 million from USD 822.2 million in 2011. Wheel sales in 2012 decreased USD 0.6 million to USD 812.4 million from USD 813.0 million in 2011. Wheel shipments increased by 7 percent compared to 2011 with the increased volume contributing approximately USD 53.6 million in additional revenue. However, the favorable volume impact was substantially offset by a decline in the value of the aluminum component of sales which the Company generally passes through to customers. The decline in aluminum value resulted in USD 49.7 million lower revenues, and was also the primary cause of a 6 percent reduction in the average selling price of its wheels.

2) Operating Income
-Consolidated income from operations decreased USD 6.9 million in 2012 to USD 32.9 million, or 4 percent of net sales, from USD 39.8 million, or 5 percent of net sales, in 2011. Income from the Company's U.S. operations decreased USD 20.4 million, while income from the Company's Mexico operations increased USD 11.1 million when comparing 2012 to 2011.

R&D Expenditure

(in million USD)

	FY ended Dec. 31, 2012	FY ended Dec. 31, 2011	FY ended Dec. 31, 2010
Total	5.8	5.3	4.9

R&D Facilities

-The Company has technical centers located in Fayetteville, Arkansas and Detroit, Michigan.

Capital Expenditure

(in million USD)

	FY ended Dec. 31, 2012	FY ended Dec. 31, 2011	FY ended Dec. 31, 2010
Overall	23.1	17.0	9.3