Royal Enfield has acquired Harris Performance Products for an undisclosed sum. The Chennai-based company will acquire the assets, employees, trade names, know-how, and intellectual property of the engineering company which is celebrating its 40th anniversary this year.
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| Pictured are Steve Harris and Siddartha Lal |
This is Royal Enfield’s first acquisition.
Harris Performance was set up by brothers Steve and Lester Harris and third director Stephen Bayford. The Hertford-based company, known for its design and manufacturing of high-performance motorcycle chassis and components, has had a long-standing relationship with Enfield, developing the chassis for the Continental GT Cafe Racer.
Enfield CEO Siddhartha Lal said the company was working on new-generation products and platforms and the acquisition of Harris Performance would boost engineering and product design.
“Their proven expertise, deep insight and understanding of motorcycling will be invaluable for us in our journey towards achieving leadership in the global mid-sized motorcycling segment,” said Lal.
British Dealer News reported in March that Royal Enfield planned to set up two technology centres — one in India and another in the UK. The larger one will be at a 4.5-acre site in the southern Indian city of Chennai, close to Royal Enfield’s production plants, and should be operational by the second quarter of 2016. A smaller satellite is to be established in Leicestershire by the end of 2015.
Enfield said it planned to invest £52m this year on product development and other areas, as it increased the brand's model range and production capacity to 450,000 units annually.
Story from www.britishdealernews.co.uk
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