Aim to expand sales in Central, Latin markets: Hero

Hero MotorCorp today launched its first overseas manufacturing plant in Cauca, Columbia. Built at a capacity of USD 70 million, the plant has an installed capacity of 80,000 units per year, which is expected to go up to 1, 50,000 units in the second phase. In an interview with CNBC-TV18's Farah Bhookwala, Pawan Munjal, Chairman of the company, says: “We are bringing some of brand expertise here into this (Columbia) market - our association with supporting activities, our association with youth and our association with entertainment.” The company already has a healthy market share in the Central America. With the new plant, it will start sales in nearby markets like Bolivia, Dominican Republic and Caribbean markets, Munjal told the channel.He adds that the company has launched nine products so far and is focusing on aggressive sales to attain higher market share than its competitors in the Indian market.