Boston-based Crane Currency announced plans Wednesday to open a banknote printing and customer experience center in the southern European country of Malta.
The 140,000-square foot facility represents a $100 million investment for construction and equipment. Crane Currency expects to hire 200 employees to work at the center when its completed in early 2018. CEO Stephen DeFalco says the company works with more than 50 central banks.
“For many of these banks we do finished bank notes where we design the bank note and then ship them a completed bank note,” DeFalco said. “That business has growing nicely for us over the past couple of years and this adds to our capacity.”
Crane Currency has been the sole supplier of U.S. currency paper since 1964. In 2015 the company announced a split with what is now Crane Stationary based in North Adams.