SSWL wins truck wheels order from Egypt

Steel Strips Wheels (SSWL) has received new exports order for supply of truck wheels from Egypt truck trailer market. The said order comprises of about 50,000 wheels.

These will be dispatched from its new Truck wheels plant situated in Chennai from January 2019 onwards. This export order will produce an extra revenue of US$ 4.8 million.

The company has completed orders from EU and the US. It is also hoping to get more orders in near term which would further strengthen the company’s position.

SSWL is involved in the design and manufacture of automotive wheels. The company is a leading supplier to the domestic and international automobile manufacturer. The company enjoys the position of market leader in the steel wheel segment. It enjoys a healthy market share in various segments such as OTR (Back Hoe Loader) 70 per cent, Commercial Vehicle (MHCV) 52 per cent, Passenger Car 50 per cent and Tractor 44 per cent.

Cheering the news, the stock jumped by 2.58 per cent and made an intraday high of Rs. 1,043.10 per share on the BSE on Monday.