Steel Strips Wheels Limited (SSWL) has informed BSE that it has been awarded yet another prestigious business from Europe's no 1 car maker Volkswagen AG. The new order, which is worth Rs. 53.64 crore, is for supplies of wheel rims to their manufacturing plants in Germany & Argentina manufacturing commercial vehicles. The contract, for the supply of approximately 100,000 wheels per year, is expected to go on for five years. This is expected to generate revenues of over 1.7 million Euros per year (107.3 million Indian rupees per year).This is in addition to the business worth $38 m concluded with Audi (Group co. of Volkswagen) last July. SSWL has nearly doubled its total export volume from 0.46 million wheels in FY 2009-10 to 0.92 million wheels in the just ended FY 2010-11. It is expecting to cross exports sales of 1.5 million wheels in FY 2011-12 with businesses under development & under negotiations.
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