Hero cycles founder died at the age of 86
|founder of bicycle giant hero cycles founder died, source via - google search, India news.|
Chandigarh, Aug 13 (IANS) O.P. Munjal, founder chairman of bicycle giant Hero Cycles, died in Punjab's Ludhiana city on Thursday, family sources said.
The Hero Cycles factory was set up in 1956 in Ludhiana with a capacity for producing 25 cycles a day. It now produces nearly 19,000 cycles daily.
Listed in the 'Guinness Books of World Records' in 1986 as the largest bicycle manufacturer in the world in 1986, Hero Cycles commands nearly 48 percent of market share in the country's cycle market.