Tag Archives: AHL

JV to bring foreign investment of $7.2 million; Atlas Group signs Agreement with DENSO Corporation

Karachi, August 31, 2012 (PPI-OT): The Atlas Group and DENSO Corporation (DENSO) today announced an agreement to establish a new Joint Venture in Pakistan to launch a project Atlas Hitec (Pvt.) with an initial combined equity investment of US $7.2 million.

The agreement will strengthen the already close co-operation between Atlas Group and DENSO with the goal to manufacture quality competitive motorcycle parts in the country. The new company, Atlas Hitec (Private) Limited will be established in September 2012 while Commercial production is projected to start from October 2013.

The motorcycle industry in Pakistan expects a strong growth. The new company will utilize Atlas Group’s abundant business expertise in the country and DENSO’s technologies for motorcycle parts, to produce products that meet the market needs in Pakistan.

The signing ceremony was held at Atlas Group Office, Federation House, Karachi where Mr. Yusuf H. Shirazi, the Chairman Atlas Group, and Mr. Michio Adachi, the Senior Executive Director of DENSO Corporation inked the agreement.

Both Atlas Group and DENSO are renowned names in the manufacturing and marketing of auto products. Atlas Group is best known for manufacturing and marketing of motorcycles and cars in collaboration with Honda Motor Company, Japan.

It also manufactures various hi-tech components in-house in technical collaboration with leading components manufacturers including DENSO. DENSO is the leading supplier of advanced automotive technologies, systems and components for the world’s major automakers and two-wheeler vehicles and has operations in over 30 countries around the world.

The venture marks a significant milestone in the collaboration between two Companies as it cements an already excellent co-operation between the two partners.

For more information, Contact:
Atlas Honda Limited (AHL)
1 Mcleod Road,
Lahore-54000
Phones: (042) 111-111-245, 37225015-17, 37233515-17
Fax: 37233518, 37351114
Email: ahlhr@lhr.atlashonda.com.pk

Atlas Honda Invest $35 Million to Enhance Exports

Karachi, June 11, 2012 (PPI-OT): The Government will support the manufacturers through prudent policies and encourage them to enhance the capacity and transfers of technology which will not only benefit local consumers but also increase exports of “Made in Pakistan” motorcycles; this was stated by Chairman Federal Board of Revenue (FBR) Mumtaz Haider Rizvi.

While inaugurating the Atlas Honda motorcycle’s production capacity enhancement to 0.75 million bikes a year alongwith Mr. Kenji Kawaguchi, President Honda R and D Southeast Asia, he said that he is looking forward to Atlas Honda’s next landmark of achieving production and sales targets of 1 million motorcycles a year, as it will be a direct support to achieve FBR’s revenue collection targets.

He asked the visiting officials of Honda Japan to take another leap forward and plan for producing 2 million motorcycles not only for local market but to tap the regional markets as well.

He said that Pakistan is the country of 180 million people which could be considered amongst the biggest markets of motorcycles while it has immaculate and talented workforce besides a thriving economy which is a most suitable recipe for planning further investments.

The Chairman FBR after inaugurating Atlas Honda’s plant enhancement capacity that has been increased from 600,000 units to 750,000 units a year with the investment of $35m visited different production facilities of Atlas Honda plant and took keen interest in locally produced motorcycle engines and other parts.

‘This unit is not only to save valuable foreign exchange by deleting 94% of the motorcycle parts but also to earn foreign exchange through exports,’ said the FBR Chairman.

He said that FBR regards Atlas Honda as one of the role models among the Pakistani tax paying organizations.

Mr. Kenji Kawaguchi, President Honda R and D Southeast Asia Co., Ltd., who had flown all the way from Thailand to be present at this historic occasion for Atlas Honda, assured that consistent policies from the Govt and continuous support from FBR will encourage Honda Japan to increase its role in Pakistani motorcycle market’s development.

He said: ‘I am expecting from Honda to introduce several new and improved models in the coming years in order to serve better the Pakistani customers.’

Speaking on the occasion, Chief Executive Atlas Honda Saquib Shirazi announced that the company will now be undertaking a feasibility study for an expansion project to increase annual production of motorcycles to 1 million units, which is estimated to cost around an additional $50m.

‘The enabling environment provided by the Government was instrumental in the phenomenal growth of this sector even during the periods of economic recession. Atlas Honda was the market leader in the year 2000 and is still enjoying the same position with eight times increase in the production of units,’ he added.

The chief executive further said that AHL believes in fair competition, and this is the reason the prices of motorcycles are stable. ‘Besides having 94% localization of our brands, our exports have doubled this year to around 20000 units, while we are hopeful to achieve our export target of 100000 units in next three to five years, he added.

For more information, Contact:
Atlas Honda Limited (AHL)
1 Mcleod Road,
Lahore-54000
Phones: (042) 111-111-245, 37225015-17, 37233515-17
Fax: 37233518, 37351114
Email: ahlhr@lhr.atlashonda.com.pk