Atlas Cycle to enter Africa, UK; launch new range

Atlas Cycle Haryana Ltd is all set to enter the African continent, the UK, East Europe and Russia. The company started exporting bicycles in 1958 and at present, the cycles are used in over 50 countries.

"Atlas has sold over 17 lakh cycles in fiscal 2003-04. The company is aiming to increase this figure to about 20 lakh. The company recorded a turnover of Rs 340 crore in 2003-04," Girish Kapur, joint president, Atlas Cycles, said.

Atlas is planning to lauch Samrat range of bicycles.

The company has more than 50 models with over six models for women, 20 to 30 in the fancy sports category and eight to 10 kids' models.

Atlas has signed filmstar Sunil Shetty and Wimbledon junior champion Sania Mirza as brand ambassadors for its new range of bicycles. Shetty will endorse Standard Roadster range and Mirza, the Atlas Women's range of bicycles.

Atlas said the company has a 28 per cent share of the bicycle market. The major players in the market are Hero, Atlas, TI Cycles and Avon.

Bicycle makers in the country post 5 per cent growth a year, but in the current fiscal year, Atlas has registered a growth of over 15 per cent, the company said.

Kapur said, "The Union Budget has a lot of pro-poor proposals. However, the common man's vehicle would get costlier as excise duty on steel has increased by four per cent. The bicycle industry has seen a 25 per cent hike in raw material and steel prices in the past six months."

Atlas has manufacturing units at Sahibabad in Uttar Pradesh, Malanpur in Madhya Pradesh and Sonepat in Haryana.

"Atlas is the only Indian bicycle company with a complete manufacturing unit whose in-house research and development unit has been recognised by the department of scientific and industrial research, Union ministry of science and technology. The company has a modern paint application unit at Sahibabad," said Kapur.