11-July-2020
Corporate News
 
Hero Cycles may ride in to scoop up Atlas, the shuttered iconic cycle maker
30-Jun-2020

Hero Cycles may well be looking to scoop up the struggling operations of Atlas Cycles. Atlas Cycles, one of the country's oldest cycle brands, had recently shut its last manufacturing unit in the country, citing lack of funds. The situation may soon change with Hero Cycles, run by the Munjal family, developing interest in the business. Pankaj Munjal, chairman of Hero Cycles - the country's biggest cycle company that has a 43% market share - has initiated talks with promoters of the Atlas brand after the latter stopped production.

News Source:- https://economictimes.indiatimes.com/news/company/corporate-trends/hero-cycles-may-ride-in-to-scoop-up-atlas-the-shuttered-iconic-cycle-maker/articleshow/76704300.cms