OTTAWA—Canadian Bank Note is expanding with a third Ottawa facility, formerly owned by BA International. The location was purchased for a reported $10.2 million.

"The company is expanding and growing, it's running out of space," said Canadian Bank Note rep Judy Valz. The new 121,000 sq. ft. unit will extend operations from the company's Richmond Road headquarters, also specializing in security printing and distribution under the same management team.


This former BA International facility was bought by Canadian Bank Note

Banknote specialist BA International ceased operations at the Gladstone Avenue facility last year following the Bank of Canada's adoption of longer-lasting polymer currency. Following the purchase, Canadian Bank Note now has 15 locations worldwide.

Valz said operations would start progressively over the next year and that equipment installs would be a combination of already owned machines and new purchases. She could not give details on equipment models due to security concerns.

Canadian Bank Note operates four main divisions: lottery systems, identification systems, payment systems and shareholder services. It prints passports, banknotes, travellers' cheques, government bonds, driver's licences and more for a host of different countries. According to PrintCAN's sister publication Graphic Monthly Canada, it was the eighth largest printer in Canada last year with $225 million in sales in 2011.