(Tumba, Sweden, Sept. 21, 2016) Crane Currency today announced plans to build a new banknote printing facility and customer experience center in the country of Malta. The Malta facility will represent an investment of approximately $100 million for the construction of the factory, the machinery and the equipment.
Crane made the announcement during a visit to its offices by the Prime Minister of Malta, The Honorable Dr. Joseph Muscat.
The company expects to initially hire approximately 200 new employees.
Crane currently supports its international customers from its Tumba, Sweden operations which includes a modern printing works, banknote paper mill and design services team and from its security technologies operation in New Hampshire and Georgia.
The country of Malta has a well-known history of banknote production providing Crane access to a skilled workforce. In addition, Malta has a business-friendly environment and is located in close proximity to many of Crane’s customers.
Crane Currency Malta will be the first commercial banknote printing facility to be built in several decades.
Prime Minister Muscat said, “What is being announced today is a significant landmark achievement for our nation. To give one an inkling of the sheer significance of this investment to our manufacturing sector, I need only say that the last time the country managed to attract a greenfield investor that started its manufacturing operations with a comparable number of employees was in 1981.”
The planned 140,000 square foot facility, expected to be completed in early 2018, is being constructed in the Hal Far industrial area.
Crane has been a global producer of currency products for more than 200 years.
To learn more, please visit: www.cranecurrency.com (Source: Crane Currency)