Hyosung ships 50,000th ATM to Tranax

SEOUL — Nautilus Hyosung, Inc., says that it shipped its 50,000th ATM to Tranax Technologies, Inc., the California.-based company with whom it has had an exclusive distribution agreement since 1998.

According to a news release, Nautilus Hyosung's new retail ATM installations in the U.S. exceed 1,000 units per month.

Shipments from Nautilus Hyosung reached an all-time high in 2003 as the MiniBank Series and NanoCash lines maintained a strong presence in the U.S. market due to Tranax's marketing, sales and support efforts, according to the release.

In the second half of 2004, Nautilus Hyosung plans to offer additional functions and features on its ATMs.