SSWL Has Announced That It Registered Net Sales of INR 706 Million in February,Down 6.4%

The Indian steel rim producer Steel Strips Wheels Ltd (SSWL) has announced that it registered net sales of INR 706 million ($12.85 million) in February, down 6.4 percent compared to the corresponding month of 2012.

In terms of units sold, in February SSWL sold 769,000 steel wheel rims, decreasing by eight percent compared to 836,000 wheel rims sold in the same month of 2012, while the company's wheel rim exports increased to 88,020, up 63 percent year on year.

SSWL expects steel wheel rim sales of 950,000 in March.

Meanwhile, SSWL has won an export order from the French car manufacturer Peugeot Citroen Group to supply steel wheel rims for its new car model. It will supply Peugeot Citroen with 220,000 wheels for over five years, potentially generating nearly €3 million.