Steel Strips Wheels gets Rs 3 cr truck supply deal from US

Automobile wheel maker Steel Strips Wheels Ltd said it has got an order worth about Rs 2.9 cr to supply 9,500 truck wheels to the US.

It said the order is from from a US-Truck & Trailer Aftermarket player.

The products will supplied out of the company’s Chennai plant and will be shipped this month.

It said it is in discussions with other large truck & trailer makers in USA and expects to close “some more contracts in this segment in near future.”

“SSWL expects to increase its presence in high potential truck & trailer wheels market in US & EU in the coming months,” it added.

The company manufactures automotive steel wheels since 1991, and offers wheels for cars, trucks and other vehicles.

The Indian rupee has depreciated considerably against the dollar in the last few weeks, which is expected to make Indian suppliers more competitive against those of other countries.