Nautilus Hyosung lands in the country
Valor Econômico
Little known in the domestic market, the Korean manufacturer of ATMs Nautilus Hyosung is arriving in the country with plans to become the second largest seller of the type of equipment within five years. "The goal, in the long term, is to sell at least 10 thousand machines a year", says the CEO of the company, Hyun Sik Sohn, in an interview to Valor. Founded in the 80s, Nautilus operates in 23 countries and sells US$ 500 million. The company is among the main suppliers of ATMs installed in convenience stores, hotels and airports in the United States. Its interest in Brazil began nearly a year ago and it is part of a process of internationalization of its activities.
The operation in the country has six employees and an office in the neighborhood of Itaim, South side of São Paulo. The first client has also already been achieved. TecBan, a company that manages the Rede 24horas network of ATMs, is testing the equipment in some parts of the country. According to Sohn, Nautilus intends to invest at least US$ 10 million to structure its operation in Brazil. Nearly half of the resources will be used in the structuring an office and hiring of staff. The other part will be invested in the manufacture of ATMs. According to Sohn, the production will be made locally, upon order to a Brazilian company. The name of the company cannot be disclosed, says Sohn. The only information is that the company is located in the region of Campinas.
But the outsourced production has a term to end. According to the Executive, Nautilus will put up its own factory in the country within two to three years. To do so, the Executive says the amount to be invested will depend on the pace of growth of the businesses. "It is estimated that earnings in Brazil reach US$ 100 million in three years", says Sohn. According to the Executive, the main challenge in the country will be meeting the security requirements of the Brazilian banks. "The requirements are much greater than those of other regions", he says. Asked about the recent wave of attacks to ATMs in Brazil, Sohn did not seem to be worried: "We can help address handling with the problem bringing international technology and expertise".