Sweden's banknote production can be moved to Malta

Sweden's banknote production can be moved to Malta.


ECONOMY Sweden's banknotes will cease to be manufactured in Sweden. It states the private company that bought the banknote printer from the Riksbank in 2002.

Sweden's banknotes have been manufactured at Tumba paper mill since 1755, but now production can now be moved to Malta. According to a statement by Aftonbladet, Annemarie Watson, president of Crane Currency, states that the company is convinced that the move is the right way for the company's continued cooperation with central banks around the world.

"A fierce competition market in combination with existing infrastructure at the Tumba plant has forced us to present this difficult but necessary plan for Crane Currency," Annemarie Watson writes according to Aftonbladet.

According to the Riksbank, the production of Swedish banknotes will last until the end of the year, but it will be late to see. When the production was privatized in 2002, the Riksbank stated that Swedish banknote production would remain in Tumba.

"Our banknotes will continue to be manufactured in Tumba and it will happen just as before," said Lars Nyberg, Deputy Governor.


Maria
https://aktuelltfokus.se/sveriges-sedeltillverkning-kan-flyttas-till-malta/