US ATM supplier NCR is to invest R$73 million to build a new manufacturing plant in Brazil that will create 250 new jobs.
NCR says the site will produce cash machines for Brazil, Latin America, and Caribbean markets, with production slated to being by the end of the year. The new plant will take over production currently outsourced to a local contract manufacturer.
Brazil is the third largest ATM market in the world and is expected to grow 16% by 2012. NCR says the new factory will look to design and engineer specific products to meet the needs of Brazilian financial institutions, including capabilities for biometric ID and cheque printing.
Bill Nuti, NCR's chairman and chief executive officer, comments: "With this new capability, we believe we will be better positioned to take market share by providing leading hardware, software and service solutions, tailored specifically to meet the needs of our customers and fulfilling our goals of growing our business, while lowering our operating costs."
The US vendor has been undergoing a major shake-up of its global ATM manufacturing over the past two years in an effort to cut costs and improve productivity. Earlier this month, the firm announced plans to relocate all North American manufacturing to a new site in Columbus. In March, NCR finally called time on manufacturing at its site in Dundee, Scotland, as it shifted work to new sites in cheaper European locations.