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Steel Strips Wheels bags fresh orders worth about Rs 11.25 crore for US caravan trailer market
Last week, SSWL received orders worth 1, 78, 0000 Euro (Rs. 1.51) crore from EU and US). New Delhi:Auto component maker Steelelellel Strips Wheels on Monday said it has received orders for one lakh wheels worth 1,50,11,25,000 dollars (about 1,12,550,000 dollars (about 11. More than Rs 1.45 crore). As a result, the company has recorded orders worth more than Rs 2.1 crore this month alone. Steel Strips Wheels Ltd (SSWL) in a filing to the regulator on Monday, “We have obtained a document of more than 145,000 from our Chennai plant for the US caravan trailer market An export order for wheels worth more than $1.5 lakh will be executed in September.” was exposed. SSWL He said that the reordering confirms the recovery of the market after a long downturn. The company added, “Similar orders are expected to be received in the coming months. With this order, our Chennai plant will remain committed to operate our passenger car wheel business at maximum monthly ut...
EnidBryan
45
June 2, 2024
Amara Raja, Blaze form JV to develop, manufacture IoT devices
Agency Amara Raja is engaged in the field of Lead Acid Batteries (AMARON), Power Conversion Products, Sheet Metal Products, Plastic Molding, Precision Components, Electronics Manufacturing. Amara Raja Group On Monday, he said he has been working with Blaze Automation collaborated to form a Joint Venture (JV) to develop and manufacture IoT devices for the global market. The two companies agreed to set up a joint venture entity, Amara Raja Blaze Technologies Pvt Ltd (ARBT). pAmara Raja in a statement, the joint venture will utilize the combined strengths and accumulated experience of both the companies to innovate, develop and manufacture IoT devices. The joint venture will start offering products made in India. In addition, the service is expected to be offered as early as 2020 Year 9 Monthly to customers. “We will leverage our expertise and capabilities in manufacturing, and Blaze The organization’s Vice Chairman Jayadev Galla Lala, to provide turnkey soluti...
JasonBenedict
59
June 2, 2024
Indian auto component supply chain gains as auto companies look outside China
(This article was originally published on August 3, 2020 Chennai: India’s automotive component supply chain is starting to gain early revenues as global OEMs look for alternatives in China, component makers said, citing Japanese, South Korean and European companies. This cautious ‘China’ 1 ‘policy. ‘ A policy that has been in place for years In the context of the epidemic and the US-China conflict, this process has now become “less cautious and more hasty”. Indian auto component companies are receiving orders and tests from global automakers “as long as the parts are domestic”. Co-chairman Jayant Dharwal said India is willing to provide more upfront payments to help set up local factories in Europe and accept slightly higher costs than in China. Managing Director of Sandhar Technologies, the company started building a factory in Romania after the blockade. The plant is expected to be operational within two months. Minda Gro...
GeorgiaEdward
70
June 2, 2024
Steel Strips Wheels bags orders worth USD 2,09,000 for US market
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 wou...
MarvinObadiah
54
June 2, 2024
Manufacturing overseas economically key to become global suppliers: Motherson Group Chairman VC Sehgal
Samvardanana, Chaand Sehgal, Chairman, Motherson Vroup, an auto component giant; Mumbai: Chaand Sehgal, chairman of the Indian company, said the key to post-COVID-19 becoming a global supplier to the world is not to manufacture and export in India, but to economically produce in the customer’s country with India’s support. The future of manufacturing will no longer be a simple matter of ordering from one country to another, Sehgal said in his address at the ET Global Town Hall. The epidemic has shown that companies will have to follow the concept of global local manufacturing to become successful global suppliers. “We’ve been following this policy for 17-18 years now,” Sehgal said. The Samvardhana Motherson Group has more than 270 manufacturing facilities in 41 countries. The 60-year-old believes that the demand for transportation will change dramatically due to the epidemic, with more and more people preferring private transportation to public o...
MarcusLouis
60
June 2, 2024
Steel Strips Wheels bags orders worth USD 237,000 from US
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 compa...
IngemarEmerson
83
June 2, 2024
Studds commissions 2 new facilities in Haryana; invests Rs 200 crore in plants
He added that the organization’s new plant will produce 7.5 million motorcycles and 1.5 million helmets and bicycle helmets annually. NEW DELHI: Leading helmet maker Studds Accessories on Monday said it has commissioned two new factories in Faridabad, Haryana, with a total investment of Rs 20 crore. Studds Accessories is setting up Asia’s largest helmet manufacturing facility with an initial investment of over Rs 160 crore on 5.5 acres of land, the company said in a statement. Apart from producing motorcycle helmets like Shifter and Thunder series, the plant will also produce bike helmets for the domestic market. The company said that another production plant has already started operations, which has a production line for a plant that produces its own foam polystyrene (EPS), which is the most important safety feature of the helmet. Studds said it has invested Rs 400 crore in the construction of a second plant on 1.5 acres of land, bringing the total investment ...
WinifredBenson
44
June 2, 2024
Auto sector needs boosters like scrappage policy soon: JK Tyre & Industries Chairman Raghupati Singhania
New Delhi: Raghupati Singhania, Chairman, JK Tyre Industries, Automotive Industries of India He said a number of measures, including a speedy announcement of a vehicle scrapping policy, were necessary to get out of the economic slowdown caused by the coronavirus epidemic. Singhania said the recent decision to restrict imports of some pneumatic tires was a step in the right direction to boost domestic manufacturing. But he added that more measures were needed to speed up the process. “Much depends on implementing the much-needed scrapping policy to effectively utilize the pent-up demand,” Managing Director Singhania said in an email interview with The Economic Times.” . “The current GST on the automobile sector has been temporarily reduced from 28% to 18%, which may also help increase demand. Auto sales declined last quarter as production and sales were severely affected by the Covid-19 pandemic and blockade. The biggest fall was at 140 Compared to the same...
SetllaKellogg
51
June 2, 2024
Steel Strips Wheels bags order worth over EUR 1,43,000 from European Union
NEW DELHI:Automotive component maker Steelelellel Strips Wheels on Thursday said Steel Strips Wheels Ltd (SSWL) has received orders worth 14,000 euros (about Rs 1,261 crore) from the European Union (EU) market for caravan and truck trailers. wheels. Steel Strips Wheels Ltd (SSWL) has informed the stock exchanges in a regulatory filing that new export orders from Europe worth more than 1.43 lakh euros will be executed for the month of August euro and September at its Chennai plant. The company said it expects other existing customers to receive similar orders from time to time as the market returns to normal. This will help in further increasing the production at the Chennai Steel Wheel Plant, the company added. Earlier this week, Steel Strips Wheels revenues reached $2.37 million (roughly Rs. 1.77 billion) outpacing the U.S. truck and caravan trailer market. Last month, Steel Strips Wheels sold more than 100 units of its alloy wheels based on current orders Revenue for t...
SaraHodge
41
June 2, 2024
Steel Strips Wheels bags order worth over EUR 1,43,000 from the European Union
Reuters. NEW DELHI: Auto component maker Steelelellel Strips Wheels said on Thursday it had received orders worth 1.43 million euros (about Rs 1.261 billion) to supply about 800 caravans and 8,000 individual wheels to the European Union (EU) market. According to a filing, Steel Strips Wheels Ltd (SSWL) informed the stock exchanges that new export orders from Europe worth more than 1.43 lakh euros will be executed for the months of August euro and September at its Chennai plant. The company said it expects similar orders to arrive as the market returns to normalcy and other regular customers will also arrive in time. This will help in further increasing the production at the Chennai steel wheel plant, the company added. Earlier this week, Steel Strips Wheels received orders worth $2.37 million (about Rs. 177) million) from the US truck and caravan trailer market. Last month, Steel Strips Wheels had said that based on current orders, its revenues for the current fiscal wo...
ZoraTed
46
June 2, 2024
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