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19 March, 2018 22:06 IST
Steel Strip Wheels bags maiden export order from US
Source: IRIS | 10 Jan, 2018, 11.39AM
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Steel Strip Wheels has bagged a maiden export order from high potential US truck and trailer aftermarket for its truck steel wheels plant in Chennai.

The total annual potential of this business is 45,000 wheels. Wheels to be dispatched from its new truck wheels plant in Chennai from this month onwards. Order value would be close to USD 2 million.

This order marks SSWL's (Q,N,C,F)* entry into US territory. SSWL is in discussions with other large truck & trailer makers in USA and expects to get more orders in this segment in near future.

SSWL expects to increase its presence in Truck & Trailer wheels market in US & EU in the coming months.

Shares of the company gained Rs 10.1, or 0.87%, to trade at Rs 1,175.10. The total volume of shares traded was 370 at the BSE (11.27 a.m., Wednesday).

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