New Launch13 Feb 2026, 08:37 pm
Steel Strips Wheels Ltd. Enters Tripartite Agreement for Alloy Wheels Manufacturing Facility in Bhuj, Gujarat
AI Summary
Steel Strips Wheels Ltd. has entered into a tripartite agreement with Liuzhou Arays Technology Co. Ltd. and Hainan Jihoo Import & Export Co. Ltd. for the setting up of a manufacturing facility at Bhuj, Gujarat for alloy wheels. The agreement includes the selection, supply, installation, and commissioning of machinery/equipment and the transfer of technical know-how and latest technologies from Arays. The consideration for the agreement is approximately $19 million. Arays, a well-known manufacturer in the field of alloy wheel manufacturing, will assist SSWL in its current capacity expansion planning.
Key Highlights
- Steel Strips Wheels Ltd. has entered into a tripartite agreement for setting up a manufacturing facility at Bhuj, Gujarat for alloy wheels.
- The agreement includes the selection, supply, installation, and commissioning of machinery/equipment and the transfer of technical know-how and latest technologies from Liuzhou Arays Technology Co. Ltd.
- The consideration for the agreement is approximately $19 million.
- Arays is a well-known manufacturer in the field of alloy wheel manufacturing and will assist SSWL in its current capacity expansion planning.
- The agreement does not fall within related party transactions.