Cycle industry Hero dead

Tribune News Service

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Ludhiana, August 13

Industrialist OP Munjal, chairman of Hero Cycles and a founder member of Hero Group, passed away after a brief illness in the city today. 

Munjal (87) was admitted to Hero Heart Institute at Dayanand Medical College and Hospital where he breathed his last around 10:35 am. The last rites will be performed at 5 pm tomorrow, his family said. 

Faced with health issues for the past few months, Munjal had retired from active role in the business last month. He is survived by a son, Pawan Munjal, managing director of Hero Cycles, four daughters and 10 grandchildren.

Born in Kamalia town of Toba Tek Singh district (now in Pakistan Punjab), he along with his three brothers Brijmohan Lal Munjal, Dayanand Munjal and Satyanand Munjal started bicycle spare parts business in Amritsar in 1944. The business flourished well till Partition severely affected the trade environment in Amritsar. The brothers then moved their base to Ludhiana. In 1956, they shifted from component manufacturing to complete bicycle manufacturing and named their company 'Hero' -- India's first bicycle manufacturing unit.

From 25 cycles a day to begin with, Hero Cycles became the largest bicycle manufacturer by volume in the world during the 1980s. The company currently manufactures 16,500 bicycles a day and commands 48 per cent of the market share in the country. It provides direct and indirect employment to nearly one lakh people. The firm has a strong presence in 82 countries, including Germany, United Kingdom and Spain.

In 1986, Hero Cycles was listed in the Guinness Books of World Records as the largest bicycle manufacturer in the world. 

Munjal and his brother Brijmohan were instrumental in establishing Hero Honda, now Hero MotoCorp, a joint venture between Hero Cycles and Honda for manufacturing motorcycles. The firm went on to become the world’s largest motorcycle manufacturer.

Having led Hero Cycles for almost 60 years, Munjal also helped the company in diversifying to other businesses such as auto parts manufacturing and hospitality.

Under his leadership, the company grew from a bicycle maker to a Rs 3,000-crore industrial house. He also served as the president of All India Cycle Manufacturers' Association. A recipient of many national honours, Munjal was also known as a philanthropist. He supported several educational institutions and hospitals across the country. -(With agency inputs)