Atlas Cycles to invest Rs 55 crores in setting up a new facility for Atlas Steel Tube Industries at Bawal
Existing unit at Gurgaon will be shifted to bigger premises at Bawal

Bawal (Haryana), June 1, 2006. Atlas Cycles (Haryana) Limited, Malanpur Unit, India's leading bicycle maker laid the foundation stone for a Rs 55 crores state-of-the-art facility for its captive unit, Atlas Steel Tube Industries at Bawal today. Spread across 9 acres and equipped with the latest manufacturing facilities, the plant will be set up with a capital expenditure of approximately Rs 55 crores. Besides increasing production capacities, it is also expected to generate additional revenue for the Government and employment for the local people of Bawal and surrounding areas. The plant will be commissioned in the coming four months.

The ceremony was attended by Mr. Salil Kapur, President, Mr. Sanjay Kapur, Joint President, Mr. Prashannt Kapur, Vice President & Mr. Ashwin Kapur along with other senior officials of the Company and local officials and dignitaries of the district.

Speaking on the occasion, Mr. Salil Kapur, President, Atlas Cycles (Haryana) Limited said, " The expansion will put Atlas Steel Tube Industries in line with the value added CDW Tubes as well as CR Strips for the auto and other allied industries. The company shall be going for forward and backward integration by adding value added CDW mill and a cold rolling mill in the second phase. The present two mills will also be modernized at the new premises."

Atlas Steel Tube Industries enjoys a reputation of high quality precision tubes for auto and allied industries for the last two decades. The Atlas Steel Tubes factory is presently located at Gurgaon on a plot of 4.5 acres. The company required more space for expansion and therefore the new premises of the factory will be at National Highway No.8 at HSIDC, Industrial area, Bawal, Distt. Rewari.

About Atlas Cycles (Haryana) Ltd.
Atlas Steel Tube Industries was established in 1987 as captive unit of Atlas Cycles Industries Ltd., Sonepat. Tube rolling capacity was enhanced to 36000 M.T. per annum by the installation of second Tube Mill in 1994. Precision Steel Tubes from 12.00mm Outer Dia to 81.20 mm Outer Dia are produced in thickness range of 0.70 mm to 3.65 mm for Automobile, Bicycle, Furniture and General Engineering Industries conforming to national and International quality standards.