Auto parts supplier Superior Industries International Inc. said Tuesday it will close its original manufacturing facility in Van Nuys, cutting about 290 jobs in order to shrink costs amid a strong decline in demand for new vehicles.

The Van Nuys-based company, which supplies aluminum wheels to most major U.S. and foreign automakers, said the cuts will reduce its workforce by 9 percent and save about $16.5 million annually in labor costs. The plant is expected to close during the second quarter and result in severance and other costs of about $2.1 million.

“Closing the Van Nuys plant, where we launched our OEM (original equipment manufacturer) aluminum wheel business over 30 years ago, and losing many loyal and long-term employees, makes this decision particularly difficult,” said Superior’s Chairman Steven Borick in a statement. “Nevertheless, we are committed to coming out of this unprecedented business downturn as a stronger, leaner company.”

Asset impairment charges related to the closure have yet to be determined but are expected to be recorded in the fourth quarter ended Dec. 28, the company said.

The plant closing is the second by Superior in as many months. The company last month closed its Kansas plant, which manufactures wheels for SUVs and trucks, and laid off 600 workers. Superior has five remaining plants: two in Arkansas, two in Mexico, and a joint venture in Hungary.

Superior shares had fallen earlier in Tuesday’s session, but rallied following the late-afternoon announcement, closing down 7 cents, or less than 1 percent, to $10.12 on the New York Stock Exchange.