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Nautilus Hyosung reaches a milestone

March 17, 2011

The new year signaled a milestone for the Nautilus Hyosung Inc.

The Seoul, South Korea-based ATM manufacturer shipped its 170,000th ATM to North America since establishing operations in 1998 with Tranax Technologies Inc., which has since filed for bankruptcy.

"The milestone was reached at the turn of the new year when the 170,000th ATM, an NH-2700, rolled off the dock in Coppell, Texas," said company officials. "The NH-2700, nicknamed 170K by the NHA (Nautilus Hyosung America) staff in Texas, represents one of Nautilus Hyosung's newest additions to the retail product line."

In 2007, Nautilus Hyosung established its U.S. subsidiary, Nautilus Hyosung America Inc. Based in Coppell, Texas, near Dallas, Nautilus Hyosung America has sold more than 90,000 ATMs to the retail off-premises market and to financial institutions. Company officials say they have increased the firm's leadership in the nation's retail ATM market based on internal sales and distribution figures.

"Nautilus Hyosung has achieved a commanding position in the U.S. retail market, which currently accounts for approximately half of the nation's ATMs," said Sam M. Ditzion, CEO of Tremont Capital Group, a consulting firm based in Boston. Ditzion estimates there are 401,500 ATMs in the United States.

Dr. Charles Jung, president and CEO of Nautilus Hyosung America, said the company has earned a reputation as an industry leader in self-service technology.

"The achievement for our entire organization, here in North America and South Korea, including our distribution channel partners, represents a significant turning point in our history," Dr. Jung said. "We are now poised, from a manufacturing, design and organization standpoint, to enter a period of greater differentiation and commitment to providing quality, innovative self-service solutions. We stand by our mission to offer our customers the power of choice."

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