Diebold to bow out of Germany, close German subsidiary | ATMs

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ATMs

Diebold to bow out of Germany, close German subsidiary

01 Aug 2008

NORTH CANTON, Ohio — Diebold Inc. a provider of ATMs and security systems and services, is planning to close its German subsidiary, Diebold Germany GmbH, and exit the country given the additional investment required to maintain an acceptable level of customer satisfaction in that market.

This decision is the result of careful consideration of the company's international business operations. Diebold's global strategy concentrates on a clearly defined growth plan focusing its international resources on the most profitable markets within Europe, Middle East and Africa, Asia Pacific and Latin America. Germany is a saturated market in all segments with limited growth potential driven by the existing installation base. Therefore, Diebold doesn't expect to achieve profitable growth for its products and services, or to enhance its market position in Germany.

Approximately 50 Diebold employees in the current German operation will be affected by this decision. Diebold will ensure a seamless migration of all its existing customer service contracts in Germany, including hardware and software maintenance for existing installations. In addition, Diebold is focused on ensuring continuity in its German customer operations by developing plans on a customer-by-customer basis. Support will be conducted through partners and reliable service companies.

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