Hitachi invests Rs 100 crore to set up ATM manufacturing firm in India
Japan’s Hitachi Group has set up an ATM manufacturing firm in India with an investment of Rs 100 crore to cash in on the growing number of banking users in the country. Hitachi-Omron Terminal Solutions, which is globally developing the group’s cash recycling ATM business, has set up Hitachi Terminal Solutions India in Bengaluru for manufacturing ATMs in the country.
Hitachi will start production in June and produce 1,500 ATMs per month by end of 2016. “To further accelerate the expansion of its ATM business in India, we have decided on local production,” Hitachi-Omron Terminal Solutions President and Representative Director Tetsuji Shimojo said. The move would let Hitachi accommodate the needs of the market, strengthen cost competitiveness, shorten the production lead time from order entry to shipment and expand the business of ATMs.