Steel Strips Wheels to supply over 116,000 wheels worth $1.3 million to American caravan trailer market this October.
05 Aug 2020 | 23581 Views | By Autocar Pro News Desk
Indian steel wheels manufacturer Steel Strips Wheels has bagged an export order for the supply of 116,000 wheels worth US $1.3 million (Rs 9.62 crore) for the US caravan-trailer market to be executed in October from its Chennai plant.
In a regulatory filing, the company stated that, “Inflow of more orders is expected to come from various other customers as the market gains stability.” It further added that production at the Chennai steel wheel plant will further ramped up to meet growing demand for its products.
Earlier in July, the company also received another tranche of firm export orders for close to 70,000 wheels for the EU caravan trailer market worth over 429,000 euros (Rs 3.55 crore) to be executed in September and October from its Chennai plant.
The caravan-trailer market, particularly in the USA and Europe, is likely to grow in the futurer, more so in a time of social distancing when travellers are likely to prefer not to use public transport and reduce air travel. Airstream of the USA (as pictured below) is one the world's largest caravan-trailer manufacturers.