New Delhi: Leading automotive steel wheel manufacturer stel Strips Wheels has set up a new alloy wheel manufacturing facility in Gujarat in partnership with Kalink Co, Korea.

Considering the growing demand for alloy wheels, Steel Strips Wheels said it has decided to set up an alloy wheel manufacturing plant in Mehsana, Gujarat with an initial capacity of 1.5 lakh alloy wheels. Regulatory filing.

The company added that it has supplemented with Kalink signing an agreement to set up the facility.

Steel Strips Wheels “This is to meet the growing demand for alloy wheels from original equipment manufacturers, not to meet current supply and expected production capacity over the next five years.”

The company said in a separate filing that Kalink has agreed to a 20,000 investment worth $ million in capital (through the acquisition of SSWLL) shares… under mutually agreed terms).

Klink is a leading manufacturer of alloy wheels in South Korea.

Steel Strips Wheels stock was trading at Rs 346 per share on the BSE, up 6% from its previous close.