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MarketScreener Homepage  >  Equities  >  Nyse  >  NCR Corporation    NCR

NCR CORPORATION

(NCR)
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NCR : buys minority interest in Brazilian manufacturing company

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06/12/2019 | 05:11am EDT

In an effort to broaden its services to financial customers in Brazil, NCR Corporation has penned an agreement to buy the minority interest in NCR Manaus, the company's Brazilian manufacturing and engineering entity owned by Banco Bradesco, according to a company press release. 

Financial details of the deal were not disclosed, but NCR will continue to work with Bradesco to provide ATM solutions.

"We are pleased to continue our partnership with our valued customer Banco Bradesco," NCR President and CEO Michael D. Hayford said in the release. "At the same time, we look forward to applying our manufacturing and engineering operations in Manaus to more broadly serve our financial customers in Brazil and build on our 83 years of experience in the country."

The buyout complements NCR 's efforts to strengthen its footprint in Brazil. It opened its manufacturing facility in 2009, in Manaus in response to the need for local sourcing and to better serve its customers in Brazil.

"Other than the change of equity ownership that occurs with this transaction, we do not anticipate there will be any other significant changes in the way we continue to work together going forward," said Mauricio Minas, board member of Bradesco. 

In the past two decades, NCR has acquired more than 20 companies.

Copyright © 2019 Networld Media. All rights reserved., source Industry News

Stocks mentioned in the article
ChangeLast1st jan.
BANCO BRADESCO 2.39% 35.6 End-of-day quote.10.53%
NCR CORPORATION 0.74% 30.08 Delayed Quote.30.33%
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Financials (USD)
Sales 2019 6 647 M
EBIT 2019 764 M
Net income 2019 208 M
Debt 2019 3 160 M
Yield 2019 -
P/E ratio 2019 21,9x
P/E ratio 2020 13,8x
EV / Sales2019 1,05x
EV / Sales2020 0,98x
Capitalization 3 832 M
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Mean consensus OUTPERFORM
Number of Analysts 9
Average target price 38,38  $
Last Close Price 30,08  $
Spread / Highest target 49,6%
Spread / Average Target 27,6%
Spread / Lowest Target 3,06%
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Managers
NameTitle
Michael Dale Hayford President, Chief Executive Officer & Director
Frank R. Martire Executive Chairman
Owen J. Sullivan Chief Operating Officer
Andre John Fernandez Chief Financial Officer & Executive Vice President
William T. VanCuren Chief Information Officer & Senior Vice President
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