|
After the partition in 1947, the
Munjal family migrated to India and
started a small business of
manufacturing bicycle components in
Ludhiana, Punjab in North India at a
time there were great bottlenecks of
industrial infrastructure and
investments.
In 1956, Hero Cycles Limited started
production in its Ludhiana plant to
manufacture bicycles. Along with this
plant, the Munjal family lead by Dr.
Brij Mohan Lall Munjal, embarked on a
journey to backward integrate into
their supply chain, as well as closely
manage their distribution. By the
1970's, Hero Cycles was the worlds
largest bicycle manufacturing company
and the Hero group had set up several
ancillary units supplying to the cycle
plant. The group then ventured into
other unrelated businesses, such as
yarn spinning, exports and auto
components.
In 1984, Hero MotoCorp Ltd., (Formerly
Hero Honda Motors Limited) was
formed as a joint venture between
Honda Japan and the Hero Group
promoters Dr. Brij Mohan Lall Munjal
along with his sons (Late) Raman Kant
Munjal, Pawan Kant Munjal, Suman Kant
Munjal and Sunil Kant Munjal.
The first plant was established at
Dharuhera, Haryana, on the outskirts
of New Delhi. In the years to follow,
large industrial areas were created
for additional manufacturing
facilities for Hero MotoCorp Ltd.,
along with their Ancillaries in
Gurgaon, New Delhi and Sidcul,
Haridwar.
In quick succession came the setup of
several other supply-chain projects in
Forgings, Casting, Plastic Injection
Moulding and other manufacturing
technologies.
|
|
Over the next two decades the Hero
Group through Hero Corporate Service
Limited setup several companies to
supply to Hero MotoCorp, partly or
wholly owned by the Hero Group. With
its keen sense on relationship
management, the Hero Group has been
successful in creating an unique model
of backward integration that has been
recognized the world over.
In 1995, Hero Corporate Service
Limited was setup as a separate entity
to provide specialized services to the
group companies and ancillaries. The
corporate services group has played a
unique role in shaping the future of
the Hero Group. Its primary role has
been to provide services ranging from
strategic advisory to complete
Greenfield Project setup for the Dr.
Brij Mohan Lall Munjal owned Hero
Group.
In having created a warehouse of
knowledge over the past few decades,
Hero Corporate Service Limited has
also been successful in its
entrepreneurial ventures of business
building in the Information Technology
Enabled Services Sector,
Manufacturing, Real Estate Project
Management, Insurance Services,
Engineering, Trade and other Service
areas.
|
