SSWL Bags ₹300 Crore European OEM Order, Boosts Global Footprint

Get ready for some exciting news from the automotive sector! Steel Strips Wheels Limited (SSWL) has just announced a significant win, securing a nomination for a substantial steel wheel business from not one, but two leading European Original Equipment Manufacturers (OEMs)! 🇪🇺

This isn’t just any order; we’re talking about a business value close to a whopping INR 300 Crores! 💰 This significant deal is set to be executed over a span of five years, with series supplies expected to kick off from early calendar year 2027. Production for these European giants will be handled right here in India, at SSWL’s Chennai plant. 🏭

What makes this announcement particularly exciting? It’s a strategic move for SSWL. The company is actively working to de-risk its export strategy by reducing its dependency on the US market. This new business from Europe, along with plans to grow its presence in South America, is a clear step towards a more diversified and robust global footprint. Think of it as SSWL spreading its wings wider across the international automotive landscape! 🌍

This kind of international recognition for Indian manufacturing prowess is always a great sign. It highlights the quality and competitiveness of products coming out of India. As of the announcement, SSWL’s stock was trading at ₹225.1, up 3.8%, reflecting the market’s positive sentiment.

Keep an eye on SSWL as they continue to expand their global reach and potentially bag more such international orders in the coming months! This could be just the beginning of an exciting new chapter for the company. ✨

source: Corporate Announcement

Join our Telegram for instant updates!