Innovative Technology opens office facility

Since its establishment in 1992, banknote validator manufacturer Innovative Technology have grown steadily to become a market-leading provider of cash handling equipment. Over the past six years growth has been exponential, with increases in all areas of the business; ITL staff numbers in the UK have grown by 71% and as a group, globally by a staggering 125%.

MD Aidan Towey commented, “70 staff has moved into the new Head Office building that can house up to 130 staff, to allow us to continue with our growth and development. This year we have added three further offices to our global structure, taking us to 9 offices across five continents. We have extended our manufacturing facilities in China this year with a 2,500-square meter factory expansion and in our Brazilian facility we have invested in a new surface mount line that will help us to increase our manufacturing capacity for South America.”

Two new off shoot technology businesses, InnoPrint and Image Capture have now relocated into ITL’s original building to allow them to grow and follow in the footsteps of Innovative’s unparalleled success of late. Image Capture are developing facial recognition technology while InnoPrint are bringing low-cost alternative bar code and ticketing products to the retail and gaming markets.

Aidan concluded, “It’s an exciting time for Innovative Technology. The company is going from strength to strength and our growth plan is very much on-going. We are constantly developing new products, expanding our operations and sales into new areas and investigating new technologies and markets.”