New Delhi, March 17, 2016: Hitachi-Omron Terminal Solutions have set up a plant in Bangalore to manufacture ATMs, staring June this year. The new company, which was set up with a capital of Rs 1 billion,, will produce 1,500 units of ATM every month by fiscal year end.
The move will allow Hitachi-Omron Terminal Solutions to promptly accommodate the needs of the market, strengthen the cost competitiveness, shorten the production lead time from order entry to shipment and expand the business of Cash Recycling ATMs. Moreover, the operations of the manufacturing company will contribute to job creation and economic development in India. This initiative by Hitachi is aligned to the government’s ‘Make in India’ programme.
|The Cash Recycling ATMs recycle the deposited cash inside the ATMs and enable the deposited cash to be dispensed in future transactions.
Says Tetsuji Shimojo, Representative Director and President of Hitachi-Omron Terminal Solutions: “The total number of units that had been deployed by the Company exceeded 5,000 in 2015, allowing it to establish a position of a leading company in the cash recycling ATM industry. To further accelerate the expansion of its ATM business in India, we have decided on local production in India. With the newly established company, Hitachi-Omron Terminal Solutions will support the construction of India's financial infrastructure, and contribute to the job creation and economic development promoted by the ‘Make in India’ policy.”
India is one of Asia’s largest ATM. At present, there are about 200,000 ATMs and CDs (Cash Dispensing ATMs) operating in India.