Team News Riveting
New Delhi, August 23
Steel Strips Wheels Limited (SSWL) has inked a deal close to $105 million or Rs 800 crore from Western Hemisphere to deliver Steel and Aluminium wheels for a minimum period of 3 years.
The supplies of steel wheels will begin from Chennai and Dappar Plants by September 2021 while supplies from Mehsana plant for the Aluminium wheels will commence by end of December 2021, the company said in a regulatory filing today. This shows strong confidence of the customers in SSWL to develop long term strategic partnerships
SSWL, operating in the automotive wheels segment is engaged in the manufacturing of steel wheel rims catering to different segments of automobile industry. Its range of products include steel wheels and alloy wheels, which comprise steel wheels for two and three-wheelers, passenger cars, high speed trailers, trucks, trailers, tractors and off-road vehicles.
The state-of-the-art facilities caters to a wide range of domestic and global automobile makers while following the highest quality standards. The company is based out of Chandigarh with manufacturing facilities at Dappar (Punjab), Oragadam (Chennai), Jamshedpur (Jharkhand), Mehsana (Gujarat) and Saraikela (Jharkhand). The plants have a combined manufacturing capacity of about 20+ million wheels per annum and growing, as it continued to explore new avenues.
In April this year, the company announced of receiving new export orders for over Rs 25 crore. It had received orders for over 1,70,000 wheels from US and EU caravan trailer market, US mobile home and US Truck trailer market. The execution of the order is expected to be completed before July 21 at its plant located in Chennai (Tamil Nadu) and Dappar (Punjab).
