AVT President Says Vending Machine Manufacturer Is Overcoming Challenges

CORONA, CA -- In a statement issued on Jan. 14, AVT Inc. president Wayne Salvino said that 2015 was a year of challenges for the company and that it has laid the groundwork to capitalize on new opportunities in the year ahead. AVT, which designs and manufactures vending machines, filed for Chapter 11 protection last May. | READ MORE

"First and foremost, we are working diligently to bring the company out of Chapter 11," Salvino said. "I'm pleased to report that we made great strides negotiating potential settlements with our creditors, and negotiating a payment plan with our banks."

Salvino added that AVT has made "significant cuts" to its staff, payroll and operational costs. "We are now lean and efficient, and operate with precision and forethought," he said.

One opportunity for AVT is providing technology to help vending operators meet new FDA regulations. The agency now requires vending machines to display nutritional and caloric information for each product sold. And AVT reportedly is collaborating with an electronic payment company to enable its machines to accommodate payroll deductions or monthly billings based on usage, along with accepting credit cards, mobile payments and cash.