Crane Currency changes hands for $800m

A new currency-printing facility in Malta, heavily financed by the government’s foreign investment arm, Malta Enterprise, has been sold to a US company, the Times of Malta is informed. However, according to a spokesman for Crane Currency, the $800 million deal will not affect the future of the Maltese plant. On the contrary, sources close to the company said that the ‘Maltese investment’ was part of the pull factors of the sale of the whole company. “The Maltese plant was one of the major selling points of the mother company based in Boston. “Crane’s shareholders made such a good deal when negotiating with the Maltese government that the Maltese state-of-the-art plant has increased significantly the selling price of the mother company,” the sources said. Malta Enterprise, which led the negotiations to convince Crane to come to Malta and committed taxpayers to some €81 million in exposure, said on Thursday that it was aware of the sale of the parent company. “We have been kept abreast of all the developments,” a spokeswoman for Malta Enterprise said. “This eventual acquisition will not affect the Malta plant. In fact, Malta Enterprise is informed that the Malta facility is a...