11 months ago

Wheels India Partners with SHPAC for Hydraulic Cylinder Tech

Wheels India Partners with SHPAC for Hydraulic Cylinder Tech
Wheels India signs technical agreement with South Korean firm for hydraulics cylinder business · thehindubusinessline.com

Wheels India, a company that makes wheels, has teamed up with SHPAC from South Korea.

They agreed that SHPAC will share its knowledge to help Wheels India make hydraulic cylinders.

Hydraulic cylinders are essential parts for construction equipment.

Wheels India hopes to boost its business and make more money, especially in Europe and North America.

They plan to use the new technology and serve existing customers.

Wheels India also had a successful year last year and in the first part of this year.

The company's stock price also went up a little.

Key facts

Company
Wheels India
Partner
SHPAC (South Korea)
Agreement
Technical, technology transfer
Focus
Hydraulic cylinders
Wheels India Net Profit (Last Year)
₹100 crores
Q1 Net Profit
₹26.44 crores
Q1 Revenue
₹1,187 crores
Stock Price Increase
2%

Quotes

Srivats Ram

MD, Wheels India

“Our technical technology transfer agreement with them is expected to create new growth opportunities for Wheels India in the global hydraulic cylinder industry and we expect this to give a fillip to our drive to grow this business over the next few years.”
thehindubusinessline.com
“SHPAC is a leading manufacturer of hydraulic cylinders in South Korea with a successful track record over the last few decades in this business exporting their products worldwide.”
thehindubusinessline.com

Sources

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