Steel Strips Wheels Ltd (SSWL) has received order worth Rs 6 lakh for wheel manufacturing from Peugoet Citroen (PSA) group of France, one of the major car makers in Europe, according to the filing with the Bombay Stock Exchange (BSE).
SSWL has been supplying it's products to the European car major for past 4 years.
The filing noted that PSA has awarded a new business to SSWL as PSA is considering SSWL to become a major partner with the European firm in the steel wheels business. PSA mulling their next implantation in the Indian market.
The new business involves supply of nearly 0.6 million wheels in next 5 years & foreign exchange earning of almost $9 million. The supplies will go to two different locations of PSA's plants in Europe.
The shares of SSWL were trading up 2.88 per cent at 314.70 on the BSE.
