Polymer Banknotes Behind Restructuring, Layoffs at Canadian Banknote Printer
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G&D and the Bank of Canada are in discussions about new services to be provided by BA International. It is expected that these discussions will be concluded successfully and that as a result, a number of the 190 employees at BA International will be retained.
The introduction of polymer banknotes in Canada significantly changes the local banknote market. Given that these notes are expected to last longer, the requirement to reprint banknotes is expected to drop from 2013 onwards. This reduction in locally secured capacity utilization cannot be compensated by international orders.
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