STRATEGIC PARTNERS
May 23, 2011
Talaris Ltd., a global cash-management solutions company, recently opened a plant in China to manufacture its Vertera Teller Cash Recycler.
The opening, which occurred May 18th, follows Talaris' decision to realign its global manufacturing operations and base production for Vertera teller automation technology in the region. Vertera offers significantly enhanced banknote authentication, increased performance and the ability to drive down operational cost, according to the company.
Talaris announced last year that it would close its Teller Cash Recycler plant in Sweden and outsource the work to a partner in China. At the time, Talaris officials did not identify the partner, but the company formed an alliance with Venture Group, a subsidiary of Venture Corporation Limited, a global electronics services provider based in Singapore.
"The state-of-the art facility is an extension of the existing relationship between Talaris and the Venture Group. The two companies have entered into a deeper manufacturing partnership for the production of Vertera, used in bank branches across the world," said Tim Robinson, CEO of Talaris, which was formerly known as De La Rue Company. Talaris is based in Basingstoke, England.
The plant, which is in Pudong, Shanghai, will employ more than 850 workers, including more than 50 Talaris employees. The amount of square feet the factory will occupy is not known.
