BANKNOTE & SECURITY PAPERS & PRODUCTS
Landqart Mill – Switzerland
On December 20, 2017 Fortress announced that its wholly owned subsidiary, Fortress Security Papers AG, had successfully completed the sale of the Landqart Mill to Swiss National Bank and Orell Füssli Holding AG. The purchase price for the sale was CHF21, 500,000 (approximately CDN$28 million). With the sale of the Landqart Mill, Fortress Paper no longer operates in the security paper products industry.
The Landqart Mill, a producer of banknote and high security papers, has a reputation for being an industry leader within the security paper industry. The Mill located in Landquart, Switzerland, approximately 100 kilometres east of Zurich employs over 275 workers and has a well-established, worldwide customer base. The 14.8 acre site includes 260,000 square feet of buildings. Since 1979, the Landqart Mill has been the sole provider of banknote paper for the Swiss currency (widely recognized as the most secure in the world) and has produced banknote paper for over 100 currency denominations for more than 50 countries. The high security papers produced at the Landqart Mill incorporate internationally recognized overt and covert security features which are embedded into the paper. The Landqart Mill completed the rebuild of its PM1 paper machine in 2011, therefore increasing its total capacity for producing security paper to approximately 10,500 tonnes/year. Market drivers within the security papers industry include the requirement to replace aged banknotes in circulation, as well as the requirement for increased security products.
Over the past few years, the Landqart Mill has shifted more of its production to higher value security papers resulting in decreasing tonnes produced, but increasing total revenue and margins. The Landqart Mill has two paper machines, PM1 which has a theoretical production capacity of approximately 7,500 tonnes/year and PM2 a cylinder mould paper machine which has a theoretical production capacity of approximately 2,500 tonnes/year. The paper machines at the Landqart Mill have received capital upgrades designed to modernize and to improve efficiency, quality and the ability to provide leading edge security features. Depending on client requirements, the Landqart Mill can produce products on the machine that best balances security and cost. Certain design attributes of the Landqart Mill provide the flexibility to meet the challenging technical requirements of security papers The manufacturing and processing of security papers at the Landqart Mill is compliant with the security guidelines of the European Central Bank, the Swiss National Bank and Orell Füssli Sicherheitsdruck AG (the Swiss national security printer). In addition, Landqart must routinely comply with the specific security guidelines and regulations of its customers. The Landqart Mill was ISO 9001:2000 certified in 1994, OHSAS 18001:2007 certified in 2010 and has a quality management system (ISO 14001) in accordance with this standard.
Please visit the Landqart website for additional information: www.landqart.com