New Delhi, 11 Apr 2008

Even as the two-wheeler industry is facing a major slowdown in sales, Hero Honda has started a new plant at Haridwar in Uttaranchal with an initial investment of Rs450 crore.

The plant, its third in the country, will manufacture between 5 and 7 lakh two-wheelers which can be scaled up to 10 lakh units by the year end.

The bike major, which sold more than 3.03 million units in FY08, has increased its market share in the period to 52% from 49% in the previous financial year.

The plant in Haridwar will be used to manufacture Hero Honda’s Splendor Plus and Passion range of motorcycles and other high volume, high margin offerings.

Hero Honda had completed the construction of the plant last year but delayed the operations to avail itself of the full ten-year tax holiday from the Uttarakhand Government.

News Source: http://www.livemint.com

4 Apr 2008

Everest Industries has commenced commercial production of Fibre Cement Roofing Sheets at its new multi manufacturing plant at Bhagwanpur, Uttarakhand from Apr. 01, 2008.

Everest Industries is engaged in the business of manufacturing boards, sheets and providing building construction solutions. The company is entering into the business of design, manufacturing, supply and erection of pre-engineered steel buildings. The company has over 3,000 retail outlets and a fast growing export market in Europe, Africa, Australia and Asia.

Shares of the company gained Rs 2.75, or 2.89%, to trade at Rs 97.85. The total volume of shares traded was 212 at the BSE. (12.10 p.m., Friday)

News Source: http://www.myiris.com