Riksbank terminates contract with Crane

swedish-krona1

Sveriges Riksbank gave notice of the termination of its contract with US banknote provider Crane on June 19.

The central bank argues the company is breaking one of the conditions of their relationship by no longer printing its banknotes in the Swedish city of Tumba. “The agreement with Crane states that they will print Swedish banknotes at the printing works in Tumba,” the central bank says.  

On May 11, the company announced the closure of its Swedish facilities, effective from December 2018.

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