Hero Cycles, the world’s largest bicycle manufacturer by volume has acquired 60 % stake in one of Sri Lanka’s leading bicycle manufactures BSH Ventures. It is third major acquisition within six months. The acquisition comes to strength its global presence and to spruce up its manufacturing proficiency to feed a rapidly rising global demand.
This comes within months of the company’s significant acquisitions in UK-based Avocet Sports and Firefox Bikes. But Hero Cycles has not disclosed its investments in the deals involved. presently Hero Cycles has been aggressively driving growth by clocking a robust 11% growth in the Indian market. It will further invest in ramping up the plant capacity in Sri Lanka to half a million units per year with clear plans laid out to fuel the domestic as well as ever-growing global demand.
BSH Ventures is a Sri Lanka based export-oriented bicycle manufacturing company located in the Biyagama Export Zone in Sri Lanka. This key acquisition will help Hero Cycles to increase its share in the international sales of Indian bicycles companies to close to 30 per cent.
The Hero Cycles has a manufacturing capacity of 7.5 million bicycles per year with its units in Ludhiana (Punjab), Bihta (Bihar) & Ghaziabad (UP). It is the leader in both the standard and specialist bicycle segments in India with an overall market share of about 41 per cent. It aims at a turnover of 8,000 crore by 2018. It also manufactures automotive rims and various other precision-engineered auto components.
Extra Info :
Hero Cycles CMD : Pankaj Munjal
Founded In : 1956
So now lets discuss some questions related to this post which can be asked in the upcoming exams :
1. Name the company which has acquired 60% in BSH Ventures ?
2. Who is the present CMD of Hero Cycles ?
3. The bicycle manufacturing BSH Ventures Ltd is from which country ?