Steel Strips Wheels bags orders worth USD 237,000 from US

June 2, 2024

NEW DELHI:Auto component maker Steelelellel Strips Wheels on Monday said it has secured export orders worth $2.37 million (roughly Rs 1.77) 1 crore) from the US.

The company said in a regulatory filing that it has secured “an order for export of more than 30,000 units for the US caravan trailer market” and that the order for one wheel will be executed at the Chennai plant in September this month.

Steel Strips Wheels Ltd (SSWL) said the order was worth $2.37 million.

Similar orders are expected in the future as the market stabilizes, which will support the Chennai Steel Wheels plant to further increase production.

Last week, Steel Belt Wheels received an order from another regular customer. The order for the US truck and RV trailer market is worth more than $20,000 (about Rs 1.56 crore). It also received orders worth more than 1,300 worth Approximately $976 million 1 crore rupees) is the US RV trailer market for supplying wheels worth $1,166 million.

The company’s stock is trading at Rs 424 per share, up 1% from last year. This was the previous closing price.

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