Sale of Tumba Bruk finalised

The Riksbank has signed a final agreement with the American company Crane & Co on the sale of AB Tumba Bruk. This agreement is based on the letter of intent signed at the end of October. The purchase price is USD 15 million.

The sale covers the paper mill for banknote paper and the banknote printing works. The Swedish Mint is not included in the sale, but will be sold to the Finnish Mint, Rahapaja Oy. Some property of cultural historical value surrounding Tumba Bruk is intended to be transferred to the Swedish National Property Board to ensure its long-term conservation.

Crane & Co will take over Tumba Bruk with effect from 1 January 2002, when it will be known as Crane AB. The Riksbank has signed a delivery agreement with Tumba Bruk on the continued production of Swedish banknotes.

Crane & Co is a 200-year old, family-owned company that has supplied banknote paper to the US Treasury's Bureau of Engraving and Printing, which prints the US dollar notes, for more than 100 years. Crane also manufactures banknote paper for export, as well as fine paper.

Further information can be obtained from:
Björn Hasselgren, Deputy Head of the Secretariat of the Executive Board, telephone +46 70 394 03 08 or President Lansing E. Crane, Crane & Co, telephone 001 413 684 62 02.