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Old 8th July 2014, 10:38   #1
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Default Hero MotoCorp ventures into Colombia

Hero MotoCorp has a goal of setting up 20 manufacturing and assembly units and sales operations in 50 across the globe by the year 2020. The company has taken the next step towards achieving this target by forming a wholly-owned subsidiary in Colombia - HMCL Colombia SAS.

The Indian two-wheeler major has also commenced the construction of a manufacturing plant in the country. The foundation stone was laid by Mr. Pawan Munjal, Managing Director and Chief Executive Officer of Hero MotoCorp, at the project site.

The new facility will be spread over 17 acres (68,000 square metres) of land at Park Sur Free Trade Zone at Villa Rica in the state of Cauca, about 500 km south-west of Bogota. It is expected to be functional by mid-2015 and will have an initial installed capacity of 78,000 units, which will go up to 150,000 units in the second phase.

The total cost of the project is US$ 70 million and Hero MotoCorp will invest US$ 38 million in capital expenditure, with the rest being utilised as working capital over the next three-year period. The equity investment will be made through the company's wholly-owned subsidiary in the Netherlands - HMCL BV.

Hero MotoCorp ventures into Colombia-photoop.jpg

Last edited by Aditya : 8th July 2014 at 15:10.
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Old 8th July 2014, 11:04   #2
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Default re: Hero MotoCorp ventures into Colombia

The name of the country is spelled incorrectly. It should be Colombia, not Columbia.
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Old 10th September 2015, 11:15   #3
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Default Re: Hero MotoCorp ventures into Colombia

Hero MotoCorp has inaugurated the Colombia plant. Click here to read report. (Hero MotoCorp inaugurates new plant in Colombia)
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