News

Diebold appoints managing director for India

July 17, 2003

NORTH CANTON, Ohio -- Diebold, Incorporated (NYSE: DBD) has appointed Rajiv Singh as managing director of its Indian operations. According to a news release, Singh will be responsible for activities of Diebold India Private Ltd. and Diebold Systems Pvt. Ltd. (the latter was previously known as Diebold HMA Pvt. Ltd.)

Diebold recently acquired the remaining 50 percent of equity of Diebold HMA Private Ltd., from HMA Data Systems Private Ltd., its former partner in the joint-venture sales and service organization. (See related story Diebold acquires remaining stake in India joint venture)

Diebold has established a production unit in Goa in collaboration with Tata Infotec to manufacture ATMs from Diebold's product line. The first ATM came off the Goa assembly line in January. (See related story Diebold signs ATM manufacturing pact with Tata Infotech)

Diebold also announced the establishment of its new corporate office for the Indian sub-continent in Mumbai. The new office "reiterates our commitment for the Indian market," said Gavin Cushman, Diebold's managing director of South Asia, in the release. "India is a market with immense potential for growth in this sector, and we look forward to bringing new standards of quality and service, as well as new self-service solutions."

Prior to joining Diebold, Singh was managing director of Computer Associates, India, and SAARC countries. Before that, he served as CEO for the start-up software venture of Computer Associates.

Diebold is not the only ATM manufacturer trying to expand its presence in the burgeoning Indian ATM market. Rival NCR has opened a hardware manufacturing facility and a professional services center in India. (See related story NCR to invest $6 million to expand in India)

South Korean manufacturer Hyosungalso has plans to open a manufacturing plant in India. (See related story Hyosung considering ATM assembly plant in India)

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