Steel Strips Wheels bags 15-million euro order from PSA Peugeot Citroen

June 2, 2024

NEW DELHI: Steel Strips Wheels Ltd (SSWL) today said it has secured 1,500 orders worth ₹ 10,000 crore (more than Rs 110 crore) is French automaker PSA for supply of steel wheels to Peugeot Citroen for a period of five years.

The material will be supplied to Peugeot Citroen’s upcoming new plant in Guenitra, Morocco, as well as existing plants in Poissy, France, and Vigo, Spain, the company said in a filing with the Bombay Stock Exchange.

“The total number of projects is about 172 Generate about 15,000 wheels in five years and about 15,000 wheels in five years He added that the cumulative revenue of 10,000 euros.

The order is the largest export order in SSWL’s history and marks SSWL’s move towards “Spin Forming Technology for Passenger Car Steel Wheels”, including the development of two sets of wheels using this technology.

This will enable SSWLL to develop lightweight steel wheels for other global passenger car manufacturers in the future,” the company said. He added that the company will also strengthen its position in the challenging EU steel wheel market.

SSWL stock was trading at Rs 340.80 shares in the afternoon, up 2.71% from the previous close on BSE.

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