Steel Strips bags $4.5 mn Canadian order

SSWL was trading at Rs 322.30 on BSE, up 6.72 percent, from the previous close.

New Delhi: Steel Strips Wheels (SSWL) has forayed into the North American market by bagging an order worth USD 4.5 million (around Rs 29 crore) to supply 1.75 lakh wheels to Canada's passenger car aftermarket.

Wheels will be shipped by the end of June 2015, Steel Strips Wheels (SSWL) said in a filing to BSE.

"This order volumes are expected to go up to 40,000 wheels next year with a total value of around USD 1 million per annum. The programme will run for five years, potentially resulting in volumes of 1.75 lakh and revenue addition of 4.5 million dollar," it added.

Besides, the company said it's in advance stage of securing an order from Polish aftermarket for passenger car wheels.

"This complements SSWL's strategy to increase its presence for the global aftermarket requirements," the company said.

SSWL was trading at Rs 322.30 on BSE, up 6.72 percent, from the previous close.

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