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Posts Tagged ‘atm makers’

NCR moving headquarters to Georgia

Friday, June 5th, 2009

ATM manufacturer NCR Corp., lured by a $60 million package of incentives, is leaving Dayton, Ohio β€” the city where it was founded more than 100 years ago β€” and moving to Duluth, Ga.

The move will cost Ohio 1,200 jobs and its only Fortune 500 company.

Ohio was not happy.

Ohio Lt. Gov. Lee Fisher said he and Gov. Ted Strickland were “extremely disappointed” about NCR’s decision to relocate.

Fisher said repeated requests to NCR’s senior management to discuss the company’s plans went unanswered, and that the state was not given a “meaningful opportunity to negotiate.”

Ohio had offered NCR a package of incentives worth about $31 million dollars, Fisher said. He added that Ohio “could have matched or exceeded” the $60 million Georgia put up, if the company had been more willing to communicate.

“This was simply a unilateral decision by senior executives,” he said, calling the NCR’s disregard for the community in Dayton a “shameless irresponsibility.”

NCR disagreed.

For its part, NCR said that the decision was based on a broad range of criteria which included “available workforce, infrastructure, incentives given, the government tax structure and benefits to NCR employees, future employees and stakeholders.”

As part of the agreement NCR will build a new manufacturing facility in Georgia as well, which will add another 870 jobs to the state. Some NCR operations will remain in Ohio, but the company’s headquarters building will be sold.

Triton/Hyosung merger called off

Wednesday, May 27th, 2009

About a year ago, Korea-based ATM manufacturer Nautilus Hyosung announced plans to buy its U.S.-based rival, Triton Systems, for $63 million. The move triggered some concern about reduced competition in the industry, as it would leave only Tranax Technologies and WRG as major independent makers of ATMs.

The resulting government anti-trust scrutiny apparently proved fatal to the deal. Yesterday, Triton and Hyosung called off the merger.

James Phillips, director of North American sales for Triton, said both companies have been going through the anti-trust review with the Department of Justice (DOJ) and yesterday decided to walk away from the deal due to challenges that appear to be continuing with the DOJ and the anti-trust review process.

β€œIt looked like impediments with the DOJ were going to continue on and it was better to just stop and go our separate ways,” Phillips said.

Triton said it will continue as an independent company, suggesting it would not immediately seek another buyer.

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