LONG BEACH, Miss. — Last week officials with Nautilus Hyosung Inc. and parent company Hyosung Corp. visited Triton Systems of Delaware's Long Beach and Memphis facilities to talk with Triton management and staff.
Nautilus Hyosung Inc. has signed an agreement to acquire Triton from Triton's parent, Dover Corp. The transaction is expected to close during the third quarter of 2008, pending regulatory approval.
H.S. Cho, executive vice president of corporate strategy for Hyosung, and P.K. Ryou, chief executive of Nautilus Hyosung, along with other senior executives from Hyosung, yesterday shared their vision for the future with Triton's staff.
"This acquisition will allow us to further expand as a global company and to better position ourselves to compete with the top three ATM manufacturers," Cho said. "We feel that this will benefit our customers, our employees, our company and the U.S. economy."
During the visit, Nautilus Hyosung discussed strategies to continue the expansion into the financial industry and new global markets, as well as ways to improve and expand the Triton brand throughout the world.
"Our goal is to grow both companies," Ryou said. "We strongly believe that Triton will provide a solid basis for growth when its strengths are combined with Nautilus."
Nautilus Hyosung's initiatives are expected to help both companies become more competitive, innovative and cost-competitive in the market by sharing and expanding research and development, manufacturing and service capabilities.
Nautilus Hyosung announced that it plans to establish a global R & D center in the United States, and indicated that the company plans to continue investing in the people, facilities and the communities of Long Beach, and Memphis.
"I think that Triton and Nautilus Hyosung share a lot of synergies," said Bryan Bauer, executive vice president of Kahuna Business Group, a Triton distributor. "Being able to share common parts is a plus for all of us, because it's not just the cost of purchasing the ATM but the cost to operate the machine that determines the product's true value."
