| 06/12/2001 | Hero Cycles Expands ProductionMany have not even heard of Hero Cycles, but during 2000 they manufactured 5.49 million bikes, making them the largest bicycle manufacturer in the world. Hero is based in Punjab, India. They are planning to increase production to 6 million bicycles. To facilitates this increase they are going to set up a new modern production plant, that when completed will manufacture and assemble 3,000 bicycles per day
Hero Cycles has had a growth rate of 4.67% in production during the fiscal year 2000-01 with sales over $196.58 million dollars (EUR232mn) last year compared to US$178.63 million dollars (EUR210mn) the during 1999.
Earlier this year Hero build an alloy rim manufacturing facility that will soon be producing 2,500 pairs of rims daily.www.herocycles.com
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