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Minaean Secures Purchase Order for Manufacture & Installation of ATM Kiosks in Gujarat State, India
Minaean Secures Purchase Order for Manufacture & Installation of ATM Kiosks in Gujarat State, India
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[{"type":"text","content":"\nMinaean Secures Purchase Order for Manufacture & Installation of ATM Kiosks in Gujarat State, India\n\n\n May 31, 2010 (Filing Services Canada) -- Minaean International Corp.  (MIB - TSX Venture, NJA - FWB, NJA - BSE), is pleased to announce that its wholly owned subsidiary, Minaean Habitat (India) Pvt. Ltd. (MHI), has secured a purchase order for the manufacture and installation of 27 new ATM Kiosks in the Indian state of Gujarat. This order from HCL InfoSystems Ltd., one of India's leading hardware, services and ICT systems integration providers, will generate revenue of CAD$ 220,000 and is anticipated to be delivered within 2 months. The ATM Kiosks will be wholly manufactured and prefabricated in Minaean's plant at New Bombay and then shipped to site for installation under the supervision of MHI engineers. Over the past 5 years, India's ATM industry has seen cumulative annual growth of 30 - 40%. ATMs have now become the most used touch point between a bank and its customers as more people are now moving towards using the ATM for their banking needs. State Bank of India expects to have 12,000 ATMs within India by the end of 2010, up from their current total of over 9,000. The target number of ATMs throughout India for all other banks in the current financial year is expected to exceed 10,000 units.  These developments are indicative of the scale of the potential ATM Kiosk business opportunity available to Minaean this year. The Indian Government's mandate to install \"information kiosks\" in over 600,000 Indian villages presents another opportunity for the Company within this sector.ATM Kiosks have steadily become a stable revenue source for the Company over the years with continued industry growth bringing in substantial business. Mr. Hari Varshney, Chairman of Minaean, commented, \"We are pleased to report yet another significant business development in the current year. While our business model is not centered on the supply of ATM Kiosks, diversification into this industry has benefited us with repeat business from the biggest players in the industry.\"About HCL InfoSystemsHCL InfoSystems Ltd is India's premier hardware, services and ICT systems integration company offering a wide spectrum of ICT products that includes Computing, Storage, Networking, Security, Telecom, Imaging and Retail. HCL is a ...