MUMBAI, India - The board of directors of Atlas Cycles Haryana, at its meeting recommended dividend of 45% per annum on equity shares for the year ended March 31, 2006.
Atlas Cycles Industries was incorporated in 1950. The name of the company was changed to Atlas Cycles (Haryana) in March 2001. Atlas introduced the first racing bicycle and the first geared bicycle in India. Atlas is today ranked amongst the largest bicycle manufacturers in the world. It is the second largest manufacturer of bicycles in India after Hero Cycles. It has an annual turnover in excess of Rs. 1.2 billion and a task force of over 5000 professionals. Atlas has been involved in setting up large cycle plants in countries like Tanzania, Zambia and others. It is the first Indian bicycle industry to get ISO-9002 accreditation.
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