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Steel Strips Wheels bags orders worth EUR 1,78,000 from EU, US

Steel Strips Wheels bags orders worth EUR 1,78,000 from EU, US

Auto component maker Steel Strips Wheels on Monday said it has received orders worth Euro 1,78,000 (Rs 1.51 crore) from the European Union (EU) and the US.

In a regulatory filing, Steel Strips Wheels Ltd (SSWL) said it has received "new orders for truck and caravan trailer market from the EU and the USA. The order comprises of almost 16,000 steel wheels to be executed in the month of August from its Chennai plant".

"The revenue thus generated would be a total of Euro 1,78,000. With these repetitive orders and projections from the customers, SSWL is on its way to achieve 25 percent year-on-year growth in 2020-21 in the export segment," the company added.

Last week, Steel Strips Wheels Ltd had received orders worth USD 140,000 (around Rs 1.05 crore) along with maiden order for alloy wheels from the EU market. It had also bagged orders worth USD 1 million for over 1.19 lakh wheels for the US caravan trailer market.

—PTI

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