News

GRG intros N Series ATM line; reports revenue and net increases

September 22, 2009

China-based GRG Banking Equipment Co. Ltd. participated in the recently held 17th China International Exhibition on Financial Banking & Equipment 2009 in Beijing.

According to a news release from GRG, CIFTEE is one of the most influential banking technology and equipment exhibitions in Asia. Industry experts from financial institutions, ATM networks, ATM solutions suppliers and research institutions were invited to discuss regional ATM development, strategic directions market trends.

GRG also hosted its third-annual user's conference during the second day of the exhibition. During that time, GRG announced the launch of its N Series ATM, a major highlight of the conference, to more than 70 attendees from Eastern Europe, North America, Asia and Africa.

The N Series includes a suite of products ranging from transactional kiosks to basic ATMs/cash dispensers and advanced-function ATMs, as well as cash recyclers.

Jeff Barrow, chairman and executive vice president of GRG International, which is part of GRG, says the product line is designed to meet global ATM market demands:

GRG is excited by the brilliant engineering design and innovation of the new N series and presents a great opportunity to grow GRG Banking products globally.

GRG also reported financial results for the first half of 2009, when the company's operating revenue increased 28 percent (U.S. $102 million) from the same period last year. The net income was up 20 percent, totaling U.S. $27 million, 8 cents per share.

Operating revenue from ATM products was up 47 percent.