Friday, September 7, 2012

Hero MotoCorp to set up Assembly Plant in Kenya

The world’s largest maker of two-wheeled vehicles, Hero MotoCorp announced on Thursday that it would establish assembly plants in Kenya and in the West African nation of Nigeria.  
The India-based company also announced that it had partnered with an undisclosed European Design and Technology firm for the establishment of the units.
Speaking to reporters at the annual Convention of Society of Indian Automobile Manufacturers, Hero MotoCorp CEO Pawan Munjal said, “We will have assembly plants in Latin America and Africa, and that will happen over a period of time. Kenya and Nigeria will have assembly operations.”
Mr. Munjal also said that they had identified a distributor for the Kenyan market and assembly operations will start soon. While Nigeria will enjoy the launch of its bikes around November – December this year with assembly operations scheduled to commence six months later.     
“I am looking at hubs to serve at different countries. For instance, Colombia could be one of the hubs, and, similarly, Nigeria and Kenya could also be other two hubs,” he added.

Hero MotoCorp Ltd Company Profile from Yahoo Finance

Hero MotoCorp is putting forth an epic performance in the manufacture of two-wheeled motor vehicles. Serving the Indian market, Hero MotoCorp (formerly Hero Honda Motors Ltd.) sells more than 3 million bikes annually with offerings ranging from fuel-efficient scooters to powerful motorcycles.
The company, considered the largest two-wheeler manufacturing company in the world, exports to Africa, Asia, Eastern Europe, and Latin America. Hero MotoCorp started as a joint venture between Hero Group (run by the Munjal family) and Honda Motors.
In mid-2011 Honda sold its 26% stake in Hero MotoCorp to Hero Group. CEO Pawan Munjal and the Munjal family own 52% of Hero MotoCorp.

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