Comments
Hero Cycles Ltd today said it has expanded the Ghaziabad-based manufacturing facility with the opening of a new aluminium cycle producing unit, paving the way for the company to service global markets.
The new plant will help the company indigenise production of aluminium cycles by making its frames that makes the products lighter and more efficient.
“We feel elated to witness a major shift as far as our production technology is concerned. This new facility will be producing aluminium bicycles, giving our products a new dimension and an edge over our competitors,” Pankaj Munjal, Co-Chairman and Managing Director, Hero Cycles said in a release.
Till now, the company was importing aluminium frames to produce high-end bicycles. Hero Cycles has two high-end brands in Urban Trail and Sprint.
“Our plans to go global and make a foothold in Africa, parts of Europe and South East Asia will get a major fillip, with the advent of this hi-tech unit and our renewed vision to serve our customers in the best way possible,” Munjal said.
The aluminium plant has an installed capacity to produce one lakh cycles per annum, the company said.
Besides, the company is also mulling localising the production of key components like internal gear hubs, electric drive units and front forks that are currently being imported for manufacturing purposes.
“This would be done through strategic tie ups,” it added.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.