Atlas Cycles to invest 55 cr at new manufacturing unit

New Delhi, Jun 1 (UNI) Atlas Cycles (Haryana) Ltd, a leading bicycle manufacturer in the country, today announced its plans to set up a new manufacturing facility for Atlas Steel Tube Industries at Bawal with an investment of Rs 55 crore.

The plant which will be commissioned in the next few months and spread over nine acres, will cater to the production of steel tubes.

''The expansion will put Atlas Steel Tube Industries in line wih the value added CDW tubes as well as CR strips for the auto and other allied industries. The company will be going in for forward and backward integration by adding value added CDW mill and a cold rolling mill in the second phase. The present two mills will also be modernised at the new premises,'' Atlas Cycles (Haryana) Ltd President Salil Kapur said.

At present the company has a manufacturing unit at Gurgaon.

UNI MP ARB RK2005