Wincor Nixdorf, a provider of IT solutions to retailers and retail banking, has said that Asia will be taking central role in its growth strategy to grow at a quicker pace than the competition and gain additional market share. Aiming to tap into the fastest growing market for hardware, software and services, that is Asia... |
Wincor Nixdorf, a provider of IT solutions to retailers and retail banking, has said that Asia will be taking central role in its growth strategy to grow at a quicker pace than the competition and gain additional market share.
Aiming to tap into the fastest growing market for hardware, software and services, that is Asia, the company, announced its intentions to expand its offerings and business activities in the region during the 25th anniversary celebration of its subsidiary in Singapore last week.
At the top of its agenda, Wincor Nixdorf-- whose biggest competitor in the banking and retail sector is NCR--said that it will start production of its first automatic teller machine (ATM) which will be predominantly developed in Singapore. It will be working with Citibank on this initiative and considers this as one step further into the integration of its global development.
The German headquartered Wincor Nixdorf will also be expanding its business activities with the foundation of a subsidiary in India, Mumbai effective October 1st 2007.
Currently Wincor Nixdorf has eight legal entities in the region including China, Hong Kong, Indonesia, Korea, Malaysia, Singapore, Taiwan and Thailand. It also has eight partner countries that are Australia, Bangladesh, Cambodia, Japan, New Zealand, Philippines, Sri Lanka and Vietnam.
“India is a market in which we are already enjoying success jointly with our partner ASG. We want to further expand and support this cooperation,” said Lim Khoon Hong, President Asia/Pacific of Wincor Nixdorf.
“The service activities and support will be driven out of Singapore when our new logistics center assumes operations in Singapore by early 2008.”
Another avenue of investment in the region will see Wincor Nixdorf opening a logistics hub and spare parts hub in Singapore by 2008. These hubs are set to shrink delivery turn around time not only within Asia Pacific but worldwide as well.
Priding its success as one that was achieved purely through organic growth Wincor Nixdorf seems to be pretty bullish about its future in the region.
“We expect approximately 30 percent net sales growth from the Asia/Pacific/Africa region this fiscal year, calculated in US Dollars. With this development, the Asian Market and the regional headquarters is taking a central role in our growth strategy,” said Eckard Heidloff, President and CEO of Windor Nixdorf. |
