Hitachi Terminal Solutions to triple its ATM manufacturing capacity in India.

Hitachi Terminal Solutions India Pvt Ltd. has set up a 1,08,000 sq ft ATMs or cash recycling machine (CRM) manufacturing facility in Bengaluru. The latest capacity addition will enable the company to triple its current monthly production capacity of producing 1000 CRMs. Although similar to ATMs, CRMs allow users to deposit cash in addition to all the other facilities that of the ATMs, said the company.

In India, the company claims to have a large customer base across national banks, state banks, private banks, and co-operatives with names like SBI, Axis Bank, and others. Additionally, with the facility, it is also looking to expand its exports of these machines. At present, it exports to markets such as South Africa and Bangladesh.

“Yoshihiro Nakatani, Managing Director, of Hitachi Terminal Solutions India Private Limited, said, “Our estimate indicates that more than 1.1 million cash recycling machines will have the capacity to be installed globally by 2024. Owning to this, we have built this facility, with the aim of offering secure CRMs to our customers.”

The company is also looking to expand its workforce by hiring 400 people. “We will hire 400 people by April of FY24 and are mostly looking to hire people for the shop floor level of the new facility,” said C Sivaramane, Plant Director, Hitachi Terminal Solutions. Currently, the company has a headcount of more than 250 people in India.

HBL