Comments
Steel Strips Wheels (SSWL) has forayed into the North American market by bagging an order worth $4.5 million (around Rs 29 crore) to supply 1.75 lakh wheels to Canada’s passenger car aftermarket.
The wheels will be shipped by the end of June, Steel Strips Wheels (SSWL) said in a filing to the BSE.
“With this order volumes are expected to go up to 40,000 wheels next year, with a total value of around $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,” it added.
Besides, the company said it is 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.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.