A company that focuses on providing technology and services to help people control cash in bank branches, retail stores and self-service kiosks, ARCA will transfer the assembly of CM18 cash recyclers from Italy to its manufacturing facility in Mebane, North Carolina
. The facility, which will produce the only cash recycler assembled in the United States, will be fully operational by April.
"In the past couple of years, banks and credit unions have been installing cash recycling technology at a rapid pace," said Mort O'Sullivan, Founder and CEO of ARCA. "Due to the increased adoption of ARCA's solutions, we've doubled the size of our manufacturing facility, added over 40 new jobs, and have worked diligently to bring a lean manufacturing philosophy to our organization. We have committed investments of over $4 million and will continue to add jobs in our efforts to bring cash recycler manufacturing to North Carolina."
“This is a moment that we have been building towards for a long time,” O’Sullivan said. “Our long-term strategy is to streamline the way businesses everywhere handle cash and this move demonstrates ARCA’s and CTS’s strong commitment to the North American market. In addition to bringing assembly of recyclers to the US market, we are greatly expanding the size of our technical team to create the largest center of excellence devoted to cash recycling in North America.”
ARCA said it has worked for over a decade in partnership with CTS Cashpro, part of the CTS Electronics Group, a global provider of automated systems for payments, document processing, cash recycling and deposits, to promote the benefits of cash recycling technology. The CM18 cash recycler automates cash in, cash, out, balancing and inventory functions in the banking and retail markets. This technology provides reduced transaction times, improved accuracy, increased security and more efficient control over cash inventory.
Patrizia Ugo, CEO at CTS, says, “Our customers will benefit from this localized assembly line in terms of support, flexibility, delivery time and cost. This is an important step within CTS’s long-term plan to bring more value to the North American market. Our goal is to get closer to the final user of our technology in order to better understand the real needs and keep developing the right solutions. For the same reason, we will keep investing in our US-based team with CTS North America.”
A sharp increase in the adoption of this technology has prompted the companies to set up local manufacturing to complement the existing manufacturing line in Italy, which will also continue production. By bringing this assembly line to North Carolina, ARCA said it will shorten the supply chain providing a more efficient model for the distribution of the CM18 cash recycler in North America.
"Manufacturing plays a big role in North Carolina's economic comeback and I am happy to see that ARCA is investing in our state," said Governor Pat McCrory.
"Our strong workforce and friendly business climate will continue to make North Carolina a top destination for manufacturers."