Steel Strips Wheels Limited (SSWL), a part of the Steel Strips Group has announced that the company has received its first export order worth Rs. 75 crore for its upcoming plant at Oragadam near Chennai from PSA Peugeot Citroen.

France-based, PSA Peugeot Citroen is the second largest manufacturer of cars in Europe and the leading manufacturer of light commercial vehicles.      

The Export Order is for the supply of 13,75,000 Steel wheel Rims over a period of 5 years, an official release said.
The Chennai project is likely to start trial production in first quarter of year 2008-09.

Patiala-based SSWL, manufactures and sells single piece steel wheel rims for scooters, passenger cars, utility vehicles, and tractors in India. The company also exports its products to Europe and North America. The company offers its products in the range of 10 to 30 inches dia.

The firm has technical collaboration with Kannai Motor Wheel Company.

At 12:30 pm, the stock was quoting at Rs 196 on BSE, up Rs 14, or 8%. 7,559 shares exchanged hands on BSE till 12.30 p.m. on Thursday. It has touched an intraday high of Rs 210 and an intraday low of Rs 180.