Banknote supplier Crane Currency has confirmed that it plans to build a new banknote printing facility and customer experience centre in Malta.
According to Crane’s press release dated 22 September 2016, the new facility will represent an investment of US $100 million for the construction of the factory, the machinery and the equipment.
The new facility will be located in the Hal Far industrial area and will cover a 140,000 square foot area. It is thought that around 200 employees will initially be hired with further required in future.
Prime Minister of Malta, Dr. Joseph Muscat, said of the intended facility:
“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.”
Malta has a history in banknote production, with De La Rue running a banknote production plant within the country for many years. However, in December last year, the company announced major redundancies with reportedly a view of eventually phasing out banknote printing activities within the country. The news from Crane will likely be welcomed by citizens of Malta, with the promise of continued employment in the industry. For Crane, it will no doubt welcome an available skilled workforce in the area.
Crane currently has facilities in Tumba, Sweden, and New Hampshire and Georgia in the United States.
As well as producing banknotes, Crane Currency is well known for its MOTION® and RAPID® micro-optic security thread features.
Read Crane Currency’s full press release on its website, click here.
