Swiss-National-Bank-Acquires-its-Durasafe-Producer

Swiss National Bank Acquires its Durasafe Producer

06 Jan 2018  Sat

Switzerland released its latest 10-, 20-, and 50-franc notes belonging to their new banknote series in 2016 using innovative, three-layer paper and polymer sandwich substrate known as Durasafe. The Bank now wants to issue more of these notes along with 100-, 200-, and 1,000-franc notes.

Landqart AG is the only company which can produce this substrate. The company lost an international order that reduced their sale drastically in 2017 and 2018. This has led to liquidity shortage apart from a direct and existential threat. Switzerland now plans to acquire the company. It would have been difficult to meet the requirements otherwise.

90 percent of the company has already been bought by the bank with banknote printer Orell Füssli Holding Ltd. The remaining 10 percent will be bought for a total of 21.5 million Swiss francs. The bank has no plans to own the company forever.