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Minaean Secures Purchase Orders for Manufacture & Installation of ATM Kiosks
Minaean Secures Purchase Orders for Manufacture & Installation of ATM Kiosks
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[{"type":"text","content":"\nMinaean Secures Purchase Orders for Manufacture & Installation of ATM Kiosks\n\n\n Sep. 15, 2009 (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 Purchase Orders for the manufacture and installation of 6 new ATM Kiosks. This purchase order comes on top of 11 such modular structures already having been supplied by MHI to this particular client. The Company has supplied a total of 80 such Kiosks to various clients over the past year.With continued improvement of the global economic situation and the Indian Reserve Bank's easing of guidelines it is expected that Indian banks will resume their aggressive expansion plan to open new branches and install new ATMs within the current fiscal year. 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. Axis Bank, which added close to 400 ATMs this quarter, will have a network of around 3,600 by the year-end. Union Bank of India added 500 ATMs to their network in the previous fiscal year and has announced that it will add another 500 this fiscal year.With MHI positioned as one of the primary suppliers of high quality ATM Kiosks, and as a result of such aggressive anticipated expansion, the Company expects to secure a considerable number of orders this year from several of its previous clients and from new clients. MHI anticipates a potential total of 145 ATM Kiosks being ordered in the second quarter going into 2010.Such ATM Kiosks are also used as E-Ticketing counters for the Indian Railways. The units are wholly manufactured and prefabricated in-house and then shipped to site for installation under the supervision of MHI engineers. In the last few years MHI has built upon the concept of modular construction technology and diversified by commencing operations under a new business vertical, 'Building Products', which offers a wide variety of prefabricated commercial solutions ranging across portable cabins, retail outlets, site offices, modular toilets, ATM Kisoks and many others which are specifically built-to-design.About Minaean Minaean Habitat (India) Pvt. Ltd., a wholly owned subsidiary of Minaean International Corporation, is well known for its pioneerin...