ARCA, a leading producer of cash-handling machines for banks and credit unions, is expanding its manufacturing capabilities at its Mebane headquarters and expects to add at least 40 workers this year.
ARCAs booming sales are behind the decision to shift more production of its cash-recycling machines from its supplier in Italy, CTS Cashpro, to its 45,000-square-foot facility in Mebane. CTS also designed the recyclers, which ARCA sells under its own name as well as selling them to other companies that sell them under their own brands.
Ive always believed we could be competitive in the U.S. by manufacturing more here, said ARCA founder and CEO Mort OSullivan. This is just a testament to that.
The expansion of its assembly line, which has been in the works for a while and should be completed in April, was a major factor in the companys addition of more than 40 workers since the beginning of 2013, pushing its total to 105.
Were on track to add another 40 to 50 jobs this year, said OSullivan. He estimated that roughly half of this years and last years new hires stem from the manufacturing expansion.
Privately held ARCAs sales exceeded $60 million last year, up from $32.7 million in 2012, OSullivan said. The company is investing more than $4 million over five years in its manufacturing expansion.
OSullivan estimates that ARCA is the No. 2 maker of cash dispensers and cash recyclers.
Cash dispensers, which employ the same technology used by ATMs, are used by banks and credit unions to give cash to customers in order to boost efficiency by speeding up transactions.
Cash recyclers are two-way machines that take in cash as well as doling it out. They enable bank tellers to focus more on engaging customers and selling them other products rather than counting cash.
ARCAs cash recyclers have been mostly manufactured by CTS in Italy until now, with final assembly performed in Mebane.
ARCA worked out a deal that calls for CTS to provide it with modules that will be assembled in Mebane. That will shorten the lead time between orders and delivery, and permit greater customization, as well as possibly leading to lower costs for customers, OSullivan said.
CTS will continue to manufacture cash recyclers in Italy for sale outside of North America.