city New Delhi India 2020 information crisis Coronavirus city New Delhi India

Atlas Cycles shuts operations at last manufacturing unit

Reading now: 228
www.livemint.com

NEW DELHI : Atlas Cycles - a name that became a synonym for bicycles in India - has shut its last manufacturing unit in Sahibabad, just outside the national capital, citing lack of funds to run the factory.

Its CEO N P Singh Rana, however, insists the shutdown is only temporary, and the company will resume operations once it is able to raise around ₹50 crore by selling surplus land.The company shut the factory on June 3, which ironically was also happened to be the World Bicycle Day.

Read more on livemint.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA