Two wheeler maker Eicher Motors Ltd on Monday announced the acquisition of Britain-based Harris Performance Products Ltd for an undisclosed sum.
Under the terms of the deal, Eicher Motors will acquire all assets, employees, trade names, technical know-how and intellectual property of the 40-year-old Harris Performance Products, the Indian company said in a statement.
According to the British company's website, it designs, develops, manufactures and markets road and racing motorcycle chassis and components that are marketed in Britain and exported worldwide.
"Royal Enfield (the two wheeler division of Eicher Motors) is working on its new generation of products and platforms; to have the Harris Performance team dedicatedly working with us will clearly enhance our engineering and product design capabilities.
"Their proven expertise, deep insight and understanding of motorcycling and Royal Enfield will be invaluable for us in our journey towards achieving leadership in the global mid-sized motorcycling segment," Siddhartha Lal, CEO Royal Enfield and managing director, Eicher Motors was quoted as saying in the statement.
"All of the current staff at Harris Performance will now become employees of Royal Enfield, taking responsibility of performance and development engineering for our new range of motorcycles. They will be part of Royal Enfield's upcoming UK Tech Centre," Lal said.
