NCR announces $6m capital investment in India
13 November 2002 | 2572 views | 0
NCR Corporation has announced a capital investment of approximately $6 million as part of its planned expansion in India's ATM market. The invesment includes a new ATM manufacturing plant and services centre in Bangalore.
The plans were announced at the recent opening of an ATM manufacturing facility at Pondicherry and NCR expects the manufacturing factory and software development centre in Bangalore to be completed by September 2003.
The new facilities will have the capacity to produce up to 10,000 ATMs annually and NCR says it intends to source the majority of ATM components locally.
Lars Nyberg NCR chairman and CEO, says he expects the company's workforce in India to more than double to about 1000 employees in the next 12 to 18 months.
"Developing our own facilities gives us the competitive advantage of a dedicated, skilled workforce that can rapidly customise our products and services for customers in these high-growth markets," adds Nyberg.
NCR says that the Indian financial self-service market is currently one of the fastest growing in the world, with the number of ATMs increasing from just 500 in 1998 to around 7500 today.
The company has already established an ATM channel management centre in Mumbai, the first of its kind in Asia, and has manufacturing plants in Scotland, Canada, and China.