Steel Strips Wheels bags export order

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Steel Strips Wheels

New Delhi, Dec 18: Auto ancillary company Steel Strips Wheels Ltd today said it has bagged export order from Europe's leading automotive manufacturer PSA Peugeot Citroen for supply of steel wheel rims.

The export order for delivering approximately 15,000 steel wheel rims is for the company's existing model, a company statement said.The board has also approved the issue and allotment of 3,47,663 convertible warrant to Dheeraj Garg, the Managing Director and one of the promoters of the company, on preferential basis, subject to the approval of the shareholders in their meeting to be held on January 11, 2008, the statement added.

Strips Wheels yesterday announced that it will allot over 12.55 lakh shares to a wholly-owned subsidiary of Tata Steel for Rs 21.34 crore.


UNI

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