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Home arrow News arrow Auto component arrow Steel Strips Wheels to cross exports of 1.5 million wheels in FY 2011-12
Steel Strips Wheels to cross exports of 1.5 million wheels in FY 2011-12 Print E-mail
Written by Vijay   
Thursday, 07 April 2011
Mumbai: Steel Strips Wheels Limited (SSWL) is all set to cross exports sales of 1.5 million wheels in FY 2011-12, with business currently under development and negotiation. The company has nearly doubled it's total export volume from 0.46 million wheels in FY 2009-10 to 0.92 million wheels in FY 2010-11.

SSWL has bagged an order worth Rs 53.64 crore from Volkswagen for the supply of commercial vehicle wheel rims to it's manufacturing plants in Germany and Argentina.

The contract, for the supply of approximately 100,000 wheels per year, is expected to go on for five years. This is expected to generate revenues of over 1.7 million Euros per year (107.3 million Indian rupees per year).

This is not the first time SSWL is supplying to the Volkswagen group. In July 2010, SSWL executed orders worth US$ 38 million for Audi - a Volkswagen group company.

The company also received a repeat export order for more than 30,000 wheels from KFZ, Austria a part of the larger Alcar Group. The business is valued at Euro 0.3 million for supplies in 2011.

KFZ is one of SSWL's oldest customers in the winter wheels market of Europe, buying Wheel Rims from SSWL since 2007. The Company is expecting an increase in the volume of business with Alcar group by the middle of this year.

 
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