Hero MotoCorp sets up subsidiary in Netherlands

01 April 2013, 01:54 PMPratheek Kunder
Hero MotoCorp sets up subsidiary in Netherlands

Here MotoCorp has setup an offshore investment subsidiary in Netherlands that will look after some of the company’s international business. In a bid to become a global two-wheeler manufacturer, Hero MotoCorp plans to expand its business to 30 countries in next few years. The company is also planning to open offices in US, Europe and Latin America.

"Hero recently got its first 100% subsidiary incorporated in the Netherlands to expedite its global expansion plans, which includes overseas investments and merger and acquisition opportunities. The company may announce this soon" said a Hero MotoCorp senior executive to ET.

The Gurgaon based manufacturer is aiming to export one million units by 2016-2017. Hero MotoCorp is already exporting few of their products to Latin American countries like Guatemala, Honduras and El Salvador. The company may set up assembly plants in some of these markets once they see growth in their sales. 

Source: Economictimes


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