Steel Strips Wheels wins orders worth Rs 54 cr from US, Europe

Auto components maker Steel Strips Wheels Ltd (SSWL) on Monday said it has bagged orders worth around Rs 54 crore from the US and Europe.

The company has received export orders of over 5,25,000 wheels for the US and EU caravan trailer market, US mobile home and US truck trailer market, SSWL said in a regulatory filing.

The new orders are valued at over USD 7.25 million (about Rs 54 crore), it added.

SSWL will complete execution of the orders by early July 2021 from its Chennai and Dappar plants, the company said.

"Orders of similar capacity are anticipated in coming months from similar customer base as businesses continue to recover rapidly," the company added.