Steel Strips Wheels Ltd, said that it has bagged contract worth USD 33 million from leading car maker BMW Germany for supply of wheels for latter's new car launches.
The company in a filing to the Bombay Stock Exchange said that "BMW Germany has selected Steel Strips Wheels Ltd for supply of steel wheels for its new launches in 2013 and 2014. The annual volume for the three new models is 265,000 steel wheels and supplies shall start from November 2013.”
The filling added that steel wheels will be delivered to BMW's Oxford, Leipzig and Regensberg plants in Germany and projected volume is USD 32.65 million.
The company already has a tie up with BMW for supplying steel wheels to the latter's Oxford plant for its prestigious mini model.
SSWL currently has 11.5 million car wheels manufacturing capacity at its plants in Dappar near Chandigarh and Oragadam near Chennai. It also manufactures one million truck wheels at its Jamshedpur plant.