An ATM may look simple, but it is actually made up of about 3,500 components.
“Like refrigeration units for the hot Texas summer that come in from Germany, card readers that come in from China, Japan, pieces that come in from Taiwan, some components that come in from China,” Hyosung Americas Chief Operating Officer Nancy Gail Daniels said, describing the make-up of an ATM.
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SIGN UP “We manufacture all our ATMs in Vietnam,” Daniels said. “So, we have about an 850,000 square foot facility with about 2,000 people just outside of Hanoi.”
Vietnam was third on the list when President Trump announced his sweeping reciprocal tariffs at 46%.
That's on top of other tariffs the company faces.
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Daniels explained that tariffs on a recent order cost more than the actual parts from China.
“It was about $100,000 worth of stuff,” Daniels said. “There was a 174% tariff, so it was almost $200,000 of tariffs, and because I knew that that was really not economical for our customers, I actually had to send those back.”
The 90-day pause of reciprocal tariffs and their large number of ATMs already in their local warehouse gives the company a chance to strategize.
One option could be moving manufacturing to North Texas.
“We have a facility here in Irving, Texas, and we're currently studying what's involved in converting that facility over to doing ATM assemblies,” Daniels said. “So, we would import the various modules from around the world.”
