Wheels India Accelerates Growth with SHPAC Partnership

Wheels India Ltd has inked a technical agreement with South Korean firm SHPAC for technology transfer in manufacturing hydraulic cylinders. This move is poised to bolster the company's strategic focus on the global hydraulic cylinder industry, leveraging SHPAC's expertise to fuel growth across international markets.

Wheels India Ltd announced a pivotal technical agreement with South Korea's SHPAC to enhance its hydraulic cylinder manufacturing capabilities. This deal marks a strategic effort to expand the company's footprint in a crucial growth segment, as highlighted in their regulatory filing.

According to Srivats Ram, the Managing Director of Wheels India, SHPAC's established reputation in hydraulic cylinders will open new opportunities for international expansion. Ram emphasized the deal's potential to significantly accelerate the company's pursuits in the global market.

The partnership is part of Wheels India's broader strategy to escalate its presence in Europe and North America. With manufacturing facilities across India, the company aims to utilize the technology from SHPAC to optimize its offerings in construction equipment, automotive wheels, and hydraulic systems.

(With inputs from agencies.)