Kalink Co to invest in Steel Strips

Steel Strips Wheels has informed the BSE that Kalink Co has agreed to invest an amount equivalent to $2 million (₹13.15 crore) by subscribing to the equity shares of the company in accordance with applicable Acts, rules and regulations and the terms and conditions that may be mutually agreed upon between the two parties. Kalink, a South Korea-based corporation, is a alloy wheel manufacturing major having facilities at Korea and China with a total capacity of 4.5 million wheel rims per annum. Kalink’s clientele include Volkswagen, Nissan and Chrysler. Shares of Steel Strips surged 6.46 per cent at ₹347.50 on the BSE.