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Monday, Aug 19, 2019

NCR Corp doubles installed capacity in India

The $6.5-billion company's closely held Indian arm has already sold over 50,000 ATMs to banking giants SBI and Canara Bank.

india Updated: Oct 05, 2007 17:41 IST


Global self-service technology major NCR Corp announced that it has doubled its installed production capacity in India. The company will now make at least 10,000 ATM machines a year from its new facility inaugurated here Friday.

The $6.5-billion company's closely held Indian arm, with an investment spread of $3.7 million, has already sold over 50,000 automated teller machines to banking giants State Bank of India and Canara Bank.

NCR global vice president Rick Marquardt said: "This is an exciting time for us here as we have secured some of the largest orders in India. The new plant will enable us to meet future demands. India is central to our growth plans both in terms of investment and introduction of cutting-edge technologies."

Managing Director of NCR India, C. Sivaramane, said that his unit is enjoying 60 percent market share nationally.

"In the US, for every million people, there are 1,300 ATMs. Here the number is 28. That should indicate our growth prospects. As we are situated close to Chennai port and have an excellent labour force, we have good prospects of exporting our products to Europe, the US, Canada and Australia," said Sivaramane.

Headquartered in Dayton, Ohio, NCR Corp is listed in the New York Stock Exchange and offers solutions in retail, financial, travel, healthcare, hospitality, gaming and public sector organisations in over 100 countries.

The company is also negotiating with postal departments globally, including India, which provide retail-banking services to small customers.

First Published: Oct 05, 2007 17:39 IST

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