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The National Bank of Ukraine and Crane Currency Continue Cooperation and Experience Sharing in the Area of Banknote Production

13 September 2017

Press Release

 

Crane Currency, one of the world's leading high-security banknote manufacturers, organized a meeting and a training seminar jointly with experts of the Printing and Minting Works of Ukraine of the National Bank of Ukraine. The seminar will be held on 11-13 September 2017 in Kyiv.

 

On 12 September 2017, the contingent from the internationally renowned company was hosted on a tour of the NBU Banknote Printing and Minting Works to take a closer look at the manufacturing processes and technologies used in banknote production in Ukraine.

 

Photo: Crane Currency delegation shows an interest in the uncut printed sheets of 20, 100 and 500 Hryvnia banknotes

 

NBU Acting Governor Yakiv Smolii thanked the Crane Currency representatives for showing interest in the capabilities of the Banknote Printing and Minting Works and for conducting a joint training seminar on banknote manufacturing.

 

“Banknote production is a lengthy manufacturing process. Before reaching consumers, our products go through a long and complex manufacturing process that requires joint efforts by highly qualified specialists,” said Mr Smolii. “Hopefully, this visit will enrich our practical experience and pave the way for expanding cooperation between the NBU and Crane Currency”.

 

Mr Smolii added that the NBU Banknote Printing and Minting Works have capacities capable not only to meet the country's needs in production of banknotes but also to manufacture products for other countries.

 

Overall, since the banknote manufacturing facility was commissioned in 1994, it has produced over 16 billion banknotes, minted over 9 billion circulation coins, and produced over 16 million commemorative coins, as well as about 270,000 investment gold coins and has manufactured about 100 types of Ukraine State Awards.

 

An essential protective element of the modern hryvnia banknotes, the security thread RAPID, is one of the state-of-the-art security features produced by Crane Currency. This thread has become the most popular security feature currently available to ensure the protection of advanced or upgraded banknotes across the globe.

 

“It is a great honor for the NBU that the Ukrainian Banknote Printing and Minting Works became a pioneer in using a security thread with a width of 4mm and 6 mm in the mass production of banknotes,” stressed Mr Smolii.

 

In its turn, the representatives from Crane Currency, which operate in Africa, Europe, Central Asia and South America, spoke highly of the state-of-the-art technologies used at the NBU Banknote Printing and Minting Works and praised the high quality production and features of the Ukrainian banknotes.

 

Mr. Giorgio Fiorenza noted that Crane Currency and the NBU have maintained a long-term partnership dating from the NBU Printing Works’ earliest days in the mid nineties and the relationship has only strengthened over the years. He also said that the scope of cooperation has been expanding, thereby bringing benefits to Crane Currency, to NBU and to the Ukraine economy. Mr. Grahame Nathan, a thirty year veteran of the Industry, was amazed at the organization, efficiency and the professionalism of the team at the state owned banknote factory.

 

 

For reference

A global banknote paper and technology provider, Crane Currency is the industry’s fastest growing banknote producer.  The company has been recently named “Banknote and Currency Services Provider of the Year” by Central Banking Publications in 2017 for its  cooperation with many central banks in offering cutting edge micro-optic security features and modern design.

Crane Currency is a world-renowned global company and a trusted partner of more than 50 central banks of many countries (for example, the USA, the UK, Sweden, Mexico, Nigeria, Ghana, Malaysia, India among others and of course Ukraine) where it supplies banknotes, banknote paper and security features. In particular, Crane Currency has remained the predominant supplier of banknote paper for use in U.S. currency for over 140 years.

The company is a leader in advanced micro-optics technology and offers products with a series of visual effects that increase the level of banknote security and public trust in banknotes.

Crane Currency has a 200-year history combining expertise in design, paper and printing and has a proud culture of knowledge-sharing and long-term partnerships with the central banks of many countries.

The security thread produced by Crane Currency was named Rapid because it allows the unique movement of images to be visible when the banknote is tilted. The effect is based on micro-optics technology and light refraction. The thread requires the application of high-tech production technology. 

The NBU Banknote Printing and Minting Works has enough capacity fully to cover domestic needs in the production of the national currency: banknotes, small and circulation coins, as well as security substrates, state awards and a wide range of souvenir products.

The annual production capacity amounts to approximately 1.8 billion pieces of banknotes, 1.2 billion of circulation coins, 1 million pieces of commemorative coins made from precious and non-precious metals, as well as 200,000 pieces of state awards (orders, medals, badges to the honorary titles of Ukraine, badges to laureates of state prizes of Ukraine).

 


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Last modification   13.09.2017