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 Lal 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 Honda Motors Limited was formed as a joint venture between Honda Japan and the Hero Group promoters Brij Mohan Lal Munjal along his sons (Late) Raman Kant, Pawan Kant, Suman Kant and Sunil Kant Munjal. The first plant was established at Daruhera Haryana, on the outskirts of New Delhi. In the years to follow, large industrial areas were created for additional manufacturing facilities for Hero Honda Motors Limited along with their Ancillaries in Gurgaon, New Delhi and Sidcul, Haridwar. In quick succession came the set up several other supply chain projects in Forgings, casting, plastic injection moulding and other manufacturing technologies. |
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Over the next two decades the Hero Group through Hero Corporate Services set up several companies to supply to Hero Honda Motors, partly or wholly owned by the Hero Group. With its keen sense on relationship management, the Hero Group has been successful in creating a unique model of backward integration that has been recognized the world over.
In 1995, Hero Corporate Service Limited was set up as a separate entity to provide 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 set up for the Dr.Brij Mohan Lal Munjal owned Hero Group.
In having created a warehouse of knowledge over the past few decades, Hero Corp 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 Services areas. |
