The Riksbank gives notice to terminate contract with Crane AB
The Riksbank has today, 19 June, given notice of termination of its contract with Crane AB, the company that prints Swedish banknotes. The reason for the termination is that Crane has announced that it will be closing its banknote printing operations in Tumba at the end of this year and moving them to its plant on Malta. As the agreement with Crane states that they will print Swedish banknotes at the printing works in Tumba, the Riksbank is now giving notice of termination of the contract. The Riksbank is now working on finding a new supplier to manufacture Swedish banknotes.
The Riksbank had its own production of both coins and banknotes until the early 2000s. In 2001, the Swedish Mint was sold to Mint of Finland and in 2002 Tumba Bruk was sold to the American company Crane. Since then, the Riksbank has procured the manufacture of both banknotes and coins on the international market. Banknotes have continued to be printed in Tumba, while coins have been manufactured abroad since 2008. The Riksbank is now working on finding a new supplier to manufacture Swedish banknotes. The Riksbank has very stringent requirements of both quality and security in its public procurements. As the Riksbank observes the Public Procurement Act, Swedish banknotes could also be manufactured abroad.
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