Steel Strips Wheels (SSWL) is setting up a specially designed Hot rolling mill (HRM) at Seraikela, State of Jharkhand, for rolling of profile bar under the backward integration policy of the company. Profile bar is the raw material for side ring/ lock ring, requiring for the Truck Wheel Rim. Presently, the company is sourcing the profile bars from outside source. With the commissioning of this mill, the company expects substantial saving in its Raw material purchase cost. Production is expected to start by end of third quarter of 2016.
The company expects to consume 75% of its production In-House and the remaining shall be sold to others Wheels manufacturers in the first 2 years. The total cost for setting up this Hot rolling mill is around Rs 55.00 crore. The said cost will be funded through internal accruals and partly by Foreign Currency Term Loan.
SSWL is a part of the Steel Strips Group, headquartered in Chandigarh. It is engaged in the manufacturing of single piece steel wheel rims in the range of 10 to 30 inches for scooters, passenger cars, utility vehicles and tractors. It supplies rims to almost all major manufacturers of two wheelers, three wheelers, four wheelers, tractors and heavy commercial vehicle.
