Steel Strips Wheels (SSWL), a producer of automobile wheel rims, said Wednesday the company has been nominated to supply commercial vehicle wheels for MAN Trucks India. "MAN Trucks is expanding its manufacturing capacity in India and SSWL will benefit immensely by getting associated with them to address broader export markets as the trucks will also be exported to global locations," the company said.

SSWL is working at 95% utilization at its commercial vehicle plant in Jamshedpur and is already working towards increasing the capacity of the plant to 1.8 million wheels from 1.65 million wheels by doing various debottlenecking exercise at the plant and will be successfully achieved by the end of second quarter of 2015-16, the company said.

SSWL's order book is standing at 2 million wheel rims with entry into export segment also getting added this year. SSWL is also working towards Greenfield expansion in commercial vehicle segment wheels to cater the increased market demand.

Shares of the company gained Rs 13.7, or 4.35%, to settle at Rs 328.30. The total volume of shares traded was 12,813 at the BSE (Wednesday).