Hero celebrates 50 years

It has been a journey that the Munjals have enjoyed to the hilt. For, Hero Cycles, a company that started three generations ago celebrated its golden jubilee on Saturday at the Hotel Majestic Park Plaza.

Hero Cycles has been the largest manufacturer of cycles in the world since 1986. The cycle which rolled out as product number 10 crore was also auctioned for Rs. 10 lakh. Hero Cycles commands the biggest market share in the Indian bicycle industry, besides being the largest exporter of bicycles.

The will and determination of its founders Late Dayanand Munjal, Brij Mohan Lall Munjal (chairman), Satyanand Munjal (co-chairman) and Om Prakash Munjal (co-chairman and CEO) has led to the production capacity of 16,500 cycles a day in 2006, as compared to 25 in the year 1956.

Speaking on the occasion, Chief Minister Punjab Capt Amrinder Singh, who presided over the function, said Hero cycles had brought laurels for India and Punjab. Ludhiana in particular was grateful to the group for putting it on the world map.

Sharing his memories with 600-odd industrialists from Ludhiana and other cities of the country and all other audience who came to attend this function, Brij Mohan Munjal said that I used to work as an accountant with Harnam Das Johar, education minister of Punjab.

"It was him who taught me entrepreneurial skills, which help me succeed in my business as well as life.''

Om Prakash Munjal, Co-Chairman and CEO of Hero Cycles four brothers, one of who died some years ago, started this company.

"Today even third generation of our family as well of our dealers have been working with us. It took us 50 years to cross 10 crore cycles mark but I am sure that next 10 crore will come within 20 years time.''

In the past 50 years, Hero Cycles has managed to remain self-reliant by manufacturing most of the bicycle components and machinery inhouse. Today, Hero is having 200 models of cycles and more than 5 lakh families are associated with their business, including a workforce of 4,000 odd.

To celebrate the day, the management distributed 150 cycles to needy persons

A cheque of Rs 10 lakh, which came from the sale of cycle manufactured as the 10th crore product. was handed over to the Chief Minister for Chief Ministers' Relief Fund.