Hero MotorCorp Investing Overseas
Indian Hero MotoCorp have decided to invest 70 million US dollar in a state-of-the-art manufacturing facility in Columbia, USA, through one of their fully owned subsidiaries, HMCL Columbia SAS, 38 million US dollar of this will be used for CAPEX while the rest will be used over the next three years as working capital.The company aims to have its presence in 50 countries around the world by 2020 and sales exceeding 100 million units.
Currently Hero MotoCorp have a presence in 19 countries. The factory is expected to become operational towards the middle of the financial year 2015-2016 with an initial production capacity of 78,000 units per annul. This will be scaled to about 150,000 units in after the production facility is fully operational in about three years.
Hero MotoCorp is said to be thinking about investing in a production facility in Thailand in the next three years.
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