Topic: Norway to outsource note printing in 2007  (Read 4908 times)
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« on: December 20, 2006, 04:07:18 pm »

Norges Bank has signed contracts with two printing works in England and France for the production of Norwegian banknotes

In 2003, Norges Bank decided to discontinue operations at Norges Bank’s Printing Works in 2007 and to purchase banknotes from other printing works. Norges Bank has entered into agreements for the delivery of banknotes with De La Rue International Limited in the UK and Francois-Charles Oberthur Fiduciaire in France. These large and well reputed printing works print banknotes for very many other countries. The contracts apply for the period 2007 – 2012. The first deliveries will probably be made in 2008.

Norges Bank’s Printing Works has followed technological developments closely and produces notes of international standard. In the longer term, small volumes and large investments in more sophisticated technology will make it unprofitable to produce banknotes internally. Norges Bank expects to save in the order of NOK 10 million annually during the contract period.

Norges Bank has entered into contracts with two printing works because it is considered an advantage to have contact with two different providers, for contingency planning reasons, among others. These companies were selected on the basis of an extensive tendering process. A range of technical and functional requirements were defined and the choice of provider was based on these requirements and on price.

Norges Bank will continue to be responsible for determining the appearance of Norwegian banknotes and setting the requirements for both quality and security features. Unless Norges Bank approves changes for other reasons, the banknotes to be produced abroad will continue to have the same appearance and characteristics as the banknotes currently in circulation.

For further information, please contact: Trond Eklund, Director, Tel. +47 22 31 63 01 or Kristin Gulbrandsen, Executive Director, Tel. +47 22 31 60 92.

(2006-12-19 10:00)
« Last Edit: April 08, 2007, 10:34:21 pm by suretteda »

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