ITL signs trading partner agreement in Southeast Asia

Innovative Technology has announced it secured a new trading partner in Singapore, Southeast Asia. Lionex Electronics, headquartered in Singapore, is one of the largest electronic component distributors in Southeast Asia, and a supplier for many leading brands. They also have a subsidiary company (AGM) who have offices in Jakarta, Indonesia.

"We are pleased to welcome Lionex on board, our first trading partner in Singapore," Sales Director Tony Morrison said. 

ITL's focus will initially be the Indonesian market where AGM–Lionex Electronics local brand–will promote and support the company's products from their Jakarta office.

"This partnership will provide high potential for long term growth in Vending, Retail, Banking and Kiosk sectors," Morrison added. "To begin with, they will focus on some of our core products such as BV20, CBA9, NV10, NV200 and SMART Payout – these products fit easily into this diverse entry level market. As our partnership grows it will be exciting to see products like the NV200 Spectral and our new Spectral Bunch Note Feeder (BNF) hit this market in the very near future." 

Speaking on behalf of Lionex Electronics, Madeline Lai said, "Founded in 1976, we are well-established and have resources across Asia, offering total solutions to our valued customers - including logistical systems, application support and technical services. We feel honoured to be associated with the Innovative Technology brand and we believe that the ITL range will bolster our core offering and further define our footprint into the smart sector. This is the first organisation who we have partnered with to provide cash validation products, so we are excited about including their state-of-the-art product range within our offerings. This partnership will help grow our potential in all the markets we serve, and we look forward to seeing this mutually beneficial agreement flourish.”