Categories: Business

Atlas cycle shut last manufacturing unit in sahibabad

Photo: PTI

Atlas Cycle

new Delhi. With the passing of World Cycle Day, an era of cycling has also passed in India. The last manufacturing unit of Atlas Cycle, which has become synonymous with bicycle in the country during 71 years, has also now closed. The management has decided to close the Sahibabad-based unit due to lack of funds. This was the last unit of the company in which work was going on

Although the management told the media that this closure is temporary, the company is trying to raise the fund, the unit will be re-started once the fund is received. The company made it clear that the employees affected by the stoppage of production will get money as per the rules. According to the company, employees are not being fired, they will have to come to the plant. The company has indicated that their salary will be paid when the fund is received. The Sahibabad plant is the largest cycle plant in the country. It has a capacity to produce 4 million bicycles annually, the plant employs about 1000 employees.

The company was running in losses since 2014, due to which the Malanpur plant in 2014 and the Sonipat plant in 2018 were also closed. At present, Sahibabad was the only plant in which work was going on. It has also been discontinued now. Atlas was started in Sonipat by Janki Das Kapoor in 1951. In the very first year the company produced 12 thousand bicycles. At the same time, the company also started exporting Atlas Cycles from the year 1958.

This post was published on June 6, 2020 2:45 am

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