Diebold Nixdorf is planning to shut down its production facility located near Budapest in Gyal, Hungary, as part of the company's recently announced DN2020 multiyear business transformation programme.

The proposed closure will enable the company to streamline its supply chain operations. Production activities from the Hungary site will be transferred to other facilities in the company's global manufacturing network.

Diebold Nixdorf’s plant in Hungary assembles and delivers automated teller machines (ATMs) and related components, mainly for customers in Europe, the Middle East and Africa and Latin America.

Production and related operations at the facility will be closed gradually by the end of the third quarter in 2017. At present, there are nearly 150 staff working at the Hungary facility who will receive separation packages.

Diebold Nixdorf senior vice president and COO Juergen Wunram said: “As with any project of this kind that impacts our people, these are difficult decisions.

"Closing the Hungary plant and consolidating production into larger and more scalable facilities will enable us to be more competitive, agile and efficient for our customers, and help ensure the future success of the company."