Steel Strips Wheels enters North American market bagging in USD 4.5 million order to supply 1.75 lakh wheels

Thursday, May 21, 2015

Steel Strips Wheels (SSWL) has forayed into the North American market by bagging an order worth Rs 29 crore to supply 1.75 lakh wheels to Canada's passenger car aftermarket.

Wheels will be shipped by the end of June 2015, Steel Strips Wheels (SSWL) said in a filing to BSE.

"This order volumes are expected to go up to 40,000 wheels next year with a total value of around USD 1 million per annum. The programme will run for five years, potentially resulting in volumes of 1.75 lakh and revenue addition of 4.5 million dollar," it added.

Besides, the company said it's in advance stage of securing an order from Polish aftermarket for passenger car wheels.

"This complements SSWL's strategy to increase its presence for the global aftermarket requirements," the company said. SSWL was trading at Rs 322.30 on BSE, up 6.72 per cent, from the previous close.

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