Hero Cycles, a sister company of Hero Motocorp, has inaugurated an "all-aluminium" bicycle plant in Ghaziabad, Uttar Pradesh.
The world's largest bicycle maker has added the new facility within the premises of its existing plant. The move will enable Hero to produce indigenous aluminium frames for its premium light weight bicycles.
Hero has two high-end bicycle brands namely Urban Trail and Sprint. So far, the aluminum frames for Hero's premium bicycle brands were imported but now the local plant will help the company in cutting down production costs.
Inaugurating the plant, Pankaj Munjal, Co-chairman, Hero Cycles, said -
Hero Cycles Ltd will bring greater technological advancement in its production at every level in tune with our past record of being a market leader, not just in terms of sales but also in terms of innovation. 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.
With its all aluminium "Octane" series of bicycles, Hero is targeting customers who seek adventure. The cycle maker also plans to locally manufacture critical components like internal gear hubs, electric drive units and front forks.
Hero Cycles has also laid foundations for its new plant at Bihta Industrial and Logistics Park, near Patna, Bihar, which will have an annual capacity of one million units. The plant will be operational in 2014.
Head to Page 2 to view the press release.
Hero Cycles Press Release
[Can't see the document? Head to Scribd]