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Hero Cycles has acquired a strategic stake in HNF-Nicolai.
The investment is a joint project of Hero Cycles and ‘IBG Beteiligungsgesellschaft Sachsen-Anhalt mbH (IBG)’, a funding instrument of the German State of Saxony-Anhalt.
It has been reported that a 48% share has been acquired by Hero Cycles and/or IBG in HNF-Nicolai, and the company expects the entity to accrue €100 million per annum going ahead.
Hero Cycles parent company, Hero Motors Company (HMC) plans to strengthen HNF with investments in design, brand, distribution and supply chain. Hero Motors produced 7.5 million motorcycles in 2018 and generated $5 billion in revenues during that year.
HNF-Nicolai is a merger of HNF Heisenberg and Nicolai, which happened in February 2018 and included the relocation of the Nicolai production.
