In its drive to expand, Canadian Bank Note has found a building that fits the bill.
© Google Street View image.
BA International's Gladstone Avenue facility.
By David Sali
The Ottawa-based secure printer has purchased the former BA International printing facility on Gladstone Avenue, west of Preston Street, for $10.2 million, according to published real estate records.
Canadian Bank Note, which prints banknotes, passports, driver’s licences, stamps and other items for countries around the world, has simply run out of room at its main facility, spokesperson Judy Valz said.
The firm plans to move some manufacturing operations from its headquarters on Richmond Road. Ms. Valz would not say what would be produced or how many employees will work at the 121,000-square-foot Gladstone Avenue facility.
“We are hiring on a regular basis and our operations are growing,” she said. “We just need some additional manufacturing space.”
The company, which employs about 1,400 people worldwide, was Canada’s eighth-largest printer last year, according to Graphic Monthly Canada. It had sales of $225 million in 2011, up from about $173 million two years earlier.
Ottawa-based banknote printer BA International ceased operations at its Gladstone Avenue facility last year, citing the Bank of Canada’s move towards polymer currency. The high-tech bills are expected to last longer and reduce demand for new notes.