Steel Strips Wheels bags orders worth USD 2,09,000 for US market

June 2, 2024

Getty Images Representational Photos

NEW DELHI:Auto parts maker Steelelellel Strips Wheels on Thursday said it has received orders worth 20,000 US dollars (about Rs 156) million) from the US truck and RV trailer market.

The company said in a regulatory filing that it has received orders for “export of more than 60,000 wheels to the US truck and caravan trailer market” to be executed for eight months at its Chennai plant.

Steel Strips Wheels Ltd (SSWL) said that the order value is Rs. 20,90,000.

He said that he expects other regular customers to receive similar orders from time to time as the market is normal.

“This will support further increase in production at Chennai Steel Wheel Works,” he added.

Earlier this week, Steel Strips Wheels received an order worth 130 about Rs 976,000 crore) to produce wheels worth 116 a million dollars for the US caravan trailer market.

Last month, Steel Strips Wheels said revenues for the current fiscal year would exceed 32.5 billion rupees based on current orders, with sales of more than 10 million sets of alloy wheels. This is an increase of more than 300% compared to the previous fiscal year.

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