Chandigarh June 8, 2016:TI Cycles of India, one of the leading bicycle manufacturers in India and a part of the Murugappa Group, announced the inauguration of its state-of-the-art-bicycle manufacturing factory in Rajpura, Punjab on 9th, June 2016. This facility – a Greenfield project, is set up with the support of the Government of Punjab. This factory has been set up to cater to the growing demand in the North and East Indian markets.
The plant has been built with a capital expenditure of Rs.105 Crores and has the capacity to manufacture 2.50 lakhs cycles per month, with the ability to expand when required. It is a state-of-the-art plant with the most modern bake-on-bake painting technology. The plant will have three modern painting lines with German applicators. This new plant at Rajpura will further enhance the company’s ability to bring in innovative new products to cater to changing consumer needs. It will also help the company to continually improve the quality of its products on par with best in the world.
This plant is an environment-friendly factory with zero-discharge and100% recycling of water. It will soon have a 350kW rooftop mounted solar panel installation to take care of part of the energy needs of the factory.
Located in Sandharsi village, Rajpura Tehsil of Patiala District Punjab, this plant has been set up with the support of the Punjab Bureau of Investment Promotion. Apart from contributing to the development of the ancillary industry in Punjab, this will also offer employment opportunities (both direct and indirect) to around 3000 people.
Speaking on the occasion, TII Chairman and Murugappa Group Vice Chairman Mr MM Murugappan said, “We are very happy to be a part of the industrial activity in Punjab.We already have a factorymanufacturing Tubes in Mohali which is running successfully. We are encouraged by the positive industrial climate in Punjab and the support extended by the Government. This plant will cater to the demand of bicycles in the North and Eastern parts of India”
About TI Cycles:
TI Cycles of India, one of the leading bicycle manufacturers in India is a part of the INR 269 Billion Murugappa group. TI Cycles has been at the forefront of innovations and is a pioneer in the cycling industry.
TI Cycles is the only bicycle manufacturer with 4 brands – BSA for the comfort end of the market, Hercules for the rough and tough end of the market, Montra for the top end of the market and our latest brand Mach City for the urban commuter. Apart from a strong 1500 dealer network, TI Cycles has created multiple retail formats for marketing its brands of bicycles, fitness equipment and accessories to suit multiple consumer requirements. The 600+ network of exclusive retail stores include Ciclo Café, Track & Trail Sports, Track & Trail and Rural Hercules BSA stores which cut across markets to answer the varying needs of diverse consumers, providing them a satisfying and value for money experience.
About Murugappa Group:
Founded in 1900 the INR 295 Billion Murugappa Group is one of India’s leading business conglomerates. The Group has 28 businesses including nine listed Companies traded in NSE & BSE. Headquartered in Chennai, the major Companies of the Group include Carborundum Universal Ltd., Cholamandalam Investment and Finance Company Ltd., Cholamandalam MS General Insurance Company Ltd., Coromandel International Ltd., Coromandel Engineering Company Ltd., E.I.D. Parry (India) Ltd., Parry Agro Industries Ltd., Parry Sugar industries Ltd., Shanthi Gears Ltd., Tube Investments of India Ltd., and Wendt (India) Ltd.
Market leaders in served segments including Abrasives, Auto Components, Transmission systems, Cycles, Sugar, Farm Inputs, Fertilisers, Plantations, Bio-products and Nutraceuticals the Group has forged strong alliances with leading international companies such as GroupeChimiqueTunisien, Foskor, Mitsui Sumitomo, Morgan Advanced Materials, SociedadQuímica y Minera de Chile (SQM), Yanmar& Co. and Compagnie Des Phosphat De Gafsa (CPG). The Group has a wide geographical presence all over India and spanning 6 continents.
Renowned brands like BSA, Hercules, Montra, Ladybird, Mach City, Ballmaster, Ajax, Parry’s, Chola, Gromor, Shanthi Gears and Paramfos are from the Murugappa stable. The Group fosters an environment of professionalism and has a workforce of over 32,000 employees. For more details visit www.murugappa.com