Hitachi Terminal Solutions India has announced that it will expand its manufacturing presence in India by establishing a new Cash Recycling Machines (CRM) or ATM manufacturing facility in Bengaluru. This facility, according to Hitachi, will be one of the largest in the world and would enable the company to increase its present monthly production capacity of 1,000 ATMs.
Additionally, the facility will employ around 400 individuals in the future. The CRMs will be constructed in India with a high level of automation in accordance with the Make in India initiative of the Indian government, said the company.
The main engine of the CRMs (Cash Modules) are now localised and will be totally constructed in India with a high level of automation at this new facility, achieving a major Make in India status in the process, Hitachi Terminal Solutions India claimed.
Yoshihiro Nakatani, Managing Director, Hitachi Terminal Solutions India said, “Our estimate indicates that more than 1.1 million cash recycling machines have the capacity to be installed globally by 2024. Owning to this, we have built a state-of-the art facility, with an aim to offer highly secure, lowest carbon footprint and technologically advanced CRMs to our customers,”
Bharat Kaushal, Managing Director, Hitachi India said, “India continues to remain the melting pot of innovation and growth in Asia. Our presence through around 28 group companies in India, have registered progressive growth in the past and continue to do so in a more robust manner. India has the capacity and capability to grow as the next manufacturing hub, as evident by the current Government's efforts to build high-end infrastructure, even in the hinterlands of India.”
He noted that Hitachi, due to its diverse business footprint, has several manufacturing facilities across the length and breadth of India that encompass Energy, Automotive, Urban Mobility, including Railways, Industrial UPS, etc.