Swiss National Bank buys paper factory for banknote production

To guarantee the smooth roll-out of its new banknote series, the Swiss National Bank (SNB) has bought a struggling paper factory in eastern Switzerland.  The takeover of Landqart AG, valued at CHF21.5 million ($21.7 million), is split between the SNB (90%) and the security printing division of Swiss publisher Orell Füssli (10%).  + Switzerland is rolling out a new series of banknotes with numerous security features Landqart makes Durasafe®, the triple-layer substrate used for the new Swiss banknotes, which consist of a layer of plastic sandwiched between two layers of paper. According to the SNB, Landqart is the only company that offers this technology. Yet the paper manufacturer, based in canton Graubünden in eastern Switzerland, is in financial trouble after losing a big international client this year. It employs about 260 people.  “The SNB has decided to acquire the company because, otherwise, issuance of the new Swiss banknote series would not have been guaranteed ...