Sumitomo Metal Industries, Ltd. (Sumitomo Metals) will invest in Steel Strips Wheels Limited (SSWL), the biggest manufacturer of automotive steel wheels in India. The JPY 810 million investment will take place on 10 December 2010 through third party allocation of new shares. The capital will go towards SSWL’s capacity expansion. Ring Techs Co Ltd, a wholly owned subsidiary of Sumitomo Metals, has provided SSWL with technical assistance since 1997; Sumitomo intends to strengthen its relationship with SSWL while increasing their presence in India’s automotive market.
