The founder of Hero Cycle Om Prakash Munjal passes away

The founder of Hero Cycle and a leading industrialist Om Prakash Munjal breathed his last in the DMC Hero Heart Centre, Ludhiana on 13 August. He was 87.
On Prakash was born on 26 August 1928 in Kamalia, Punjab (then British India). He moved with his family to Amritsar in 1944 to start a bicycle spare parts business with his three brothers.
The complete manufacturing of bicycle was started in 1956 under brand name Hero. This unit became the first bicycle manufacturing unit in India which produced 639 bicycles in that first year.
Today the Hero Cycles Limited is the world’s largest integrated bicycle manufacturing company that manufacture 7.5 million cycles per year.
Om Prakash with his three brothers diversified in different business sectors under parent Hero Group. Today the Hero Group has its foot print in sectors like bicycle components, automotive, automotive components, IT, services etc.
Its notable Hero Motocorp the two wheeler motorcycle manufacturer is the world’s largest motorcycle producer.
Awards:
Om Prakash has received the Udyog Rattan Award from Punjab Government, Punjab Rattna award, The Samman Patra award towards for the contribution to exchequer of the Punjab state government and The Indira Gandhi National Unity award to recognize his social contribution.

Month: Current Affairs - August, 2015