Steel Strips Wheels receives orders worth $1.17 million from US market

Auto component maker Steel Strips Wheels on Wednesday said it has received orders worth over USD 1.17 million (about Rs 8.55 crore) for about 1,39,000 wheels for the US caravan trailer market. In a regulatory filing, Steel Strips Wheels Ltd (SSWL) said it has received new export orders worth over USD 1.17 million from the US caravan trailer market to be executed in the period of four months starting November 2020 from its Chennai plant.

The company said more similar orders are anticipated from the same customer base as businesses have picked up speed. This week, SSWL said it has received orders worth over USD 5,00,000 from the US and EU market. Last week, SSWL had received orders worth over EUR 2,53,000 (around Rs 2.20 crore) for about 37,000 wheels for the EU caravan trailer market.