NCR CORPORATION (NYSE:NCR) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
On June28, 2018, NCR Corporation (“NCR” or the “Company”) entered into a Master Hardware Supply Agreement (the “Agreement”) with Universal Global Scientific Industrial Co., Ltd. (“USI”). The Agreement provides for NCR to obtain manufacturing services from USI for NCR’s point of sale and outdoor payment terminals (Optic), as well as NCR-designed motherboard assemblies. Once manufacturing is transitioned, the outsourced manufacturing services will cover products that the Company is currently producing in its Columbus, Georgia area manufacturing plants, which will be closed.
The initial term of the Agreement is three years, and the Agreement renews automatically for one-year periods thereafter unless NCR provides timely written notice of intent to terminate. The Agreement requires USI to manufacture the covered products in accordance with the specifications and quality standards that are implemented in NCR’s existing manufacturing facilities. The Company will purchase covered products from USI to fulfill NCR customer orders, at agreed pricing for initial covered product models. Agreed-upon price calculations will be applied for future adjustments including cost reductions and the addition of models and features. The Agreement also contains customary representations and warranties, limitations on liabilities, and indemnification obligations.
USI, a provider of worldwide manufacturing services and solutions, had been producing and assembling NCR-designed electronic subassemblies for NCR prior to entry into this Agreement.
About NCR CORPORATION (NYSE:NCR)
NCR Corporation is a technology company that provides products and services that enable businesses to connect, interact and transact with their customers. The Company operates through four segments: Financial Services, Retail Solutions, Hospitality and Emerging Industries. Its portfolio of self-service and assisted-service solutions serve customers in the financial services, retail, hospitality, travel and telecommunications and technology industries. Its offerings include software and hardware solutions for automated teller machines (ATMs) and bank branches, retail and hospitality point of sale applications and devices, and self-service kiosks and software applications. The Company also offers a portfolio of services to support both its and third party solutions. It also resells third-party networking products and provides related service offerings in the telecommunications and technology sectors. The Company provides self-service kiosks and related operating software.