ATM manufacturer contributed $42 million to pension fund

ATM manufacturer contributed $42 million to pension fund
Tags: Asia, Australia & Pacific, Mobile Banking, NCR Financial Solutions, North America
July 24, 2010

NCR Corp., which last week reported second-quarter financials, contributed $42 million to its international and executive pension fund during 2010's first six months.

The Duluth, Ga.-based company, the world's largest ATM manufacturer based on annual shipments, will contribute a total of $110 million to the fund by the end of the year.

During an analysts' conference call Thursday, Bill Nuti, NCR chairman and CEO, said the business expects to give $75 million to the pension plan in 2012 and $110 million in 2013.

The company's pension plans were underfunded by approximately $1 billion as of Dec. 31, 2009, the business said.