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

In a regulatory filing, the company said it has bagged "export orders for over 30,000 wheels for the US caravan trailer market to be executed in September from its Chennai plant".

August 10, 2020 / 11:02 AM IST
 
 
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Auto component maker Steel Strips Wheels on Monday said it has bagged export orders worth over USD 237,000 (about Rs 1.77 crore) from the United States.

In a regulatory filing, the company said it has bagged "export orders for over 30,000 wheels for the US caravan trailer market to be executed in September from its Chennai plant".

Steel Strips Wheels Ltd (SSWL) said the orders are worth USD 237,000.

It said similar orders are expected in times to come from other regular customers as the market gains stability.

This will support further ramping up of production at Chennai steel wheels plant, the company added.

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Last week, Steel Strips Wheels had received orders worth over USD 209,000 (about Rs 1.56 crore) for the US truck and caravan trailer market. It had also received orders worth over USD 1.3 million (about Rs 9.76 crore) for 1.16 lakh wheels for the US caravan trailer market.

Shares of the company were trading at Rs 424 apiece, up 1 percent over its previous close.
PTI
first published: Aug 10, 2020 10:57 am
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