FORT LEE, N.J.--(BUSINESS WIRE)--Mar. 24, 2008
Expands into Canadian Card Manufacturing Arena
ABnote Increases Capacity and Broadens Worldwide Footprint
American Banknote Corporation, parent of the ABnote Group, announced
today that it has acquired Keystone Manufacturing (Plastics) Ltd., of
Toronto, Canada, for an undisclosed amount of cash.
The acquisition of Keystone, one of Canada’s
premier plastic card companies, provides the world-wide ABnote Group
access to Keystone’s richly diversified suite
of customers, along with the ability to take advantage of Keystone’s
highly regarded reputation in smart cards. In addition, ABnote announced
Bud Kronenberg would remain at the helm of the company together with the
current management team.
As a result of the transaction, Keystone will gain immediate access to a
wide range of new technologies including Arthur Blank’s
“green” initiatives.
Keystone will supplement its existing product lines through ABnote’s
global strength in secure card issuance and cutting-edge identification
products, as well as through its complimentary secure printing,
warehousing, fulfillment services and information technology.
“We are extremely proud to be able to acquire
a company of the quality, experience and stature of Keystone,”
stated Steven Singer, Chairman and Chief Executive of American Banknote
Corporation. “Keystone allows us to enter
Canada at a very exciting time as the banking community migrates towards
EMV and as cross border identification becomes paramount between the USA
and Canada”.
“Keystone has built a unique brand in Canada
- being able to leverage the dominant skill sets and exceptional
knowledge base that ABnote has attained means that Keystone will be able
to become an even more significant force in the Canadian marketplace”,
stated Bud Kronenberg, CEO of Keystone. “It
is with a great sense of pride that my team joins forces with a market
leader”.
About American Banknote Corporation
American Banknote Corporation is a holding company and the parent of the
ABnote Group, which operates through its subsidiary companies: American
Banknote S.A. in Brazil, Leigh Mardon in Australia, ABnote NZ in New
Zealand, CPS Technologies in France, ABnote Europe, s.r.o. in the Czech
Republic, and American Bank Note Company and Arthur Blank & Co. in the
United States. For more information on American Banknote, visit www.americanbanknote.com
or call 201-592-3400. For more information on all of Keystone’s
card products, visit www.keystoneplastics.com
or call 416-293-3842.
CONTACT: American Banknote Corporation
David M. Kober
Executive Vice Presiden
201-592-3400
tkober@americanbanknote.com
Expands into Canadian Card Manufacturing Arena
ABnote Increases Capacity and Broadens Worldwide Footprint
American Banknote Corporation, parent of the ABnote Group, announced
today that it has acquired Keystone Manufacturing (Plastics) Ltd., of
Toronto, Canada, for an undisclosed amount of cash.
The acquisition of Keystone, one of Canada’s
premier plastic card companies, provides the world-wide ABnote Group
access to Keystone’s richly diversified suite
of customers, along with the ability to take advantage of Keystone’s
highly regarded reputation in smart cards. In addition, ABnote announced
Bud Kronenberg would remain at the helm of the company together with the
current management team.
As a result of the transaction, Keystone will gain immediate access to a
wide range of new technologies including Arthur Blank’s
“green” initiatives.
Keystone will supplement its existing product lines through ABnote’s
global strength in secure card issuance and cutting-edge identification
products, as well as through its complimentary secure printing,
warehousing, fulfillment services and information technology.
“We are extremely proud to be able to acquire
a company of the quality, experience and stature of Keystone,”
stated Steven Singer, Chairman and Chief Executive of American Banknote
Corporation. “Keystone allows us to enter
Canada at a very exciting time as the banking community migrates towards
EMV and as cross border identification becomes paramount between the USA
and Canada”.
“Keystone has built a unique brand in Canada
- being able to leverage the dominant skill sets and exceptional
knowledge base that ABnote has attained means that Keystone will be able
to become an even more significant force in the Canadian marketplace”,
stated Bud Kronenberg, CEO of Keystone. “It
is with a great sense of pride that my team joins forces with a market
leader”.
About American Banknote Corporation
American Banknote Corporation is a holding company and the parent of the
ABnote Group, which operates through its subsidiary companies: American
Banknote S.A. in Brazil, Leigh Mardon in Australia, ABnote NZ in New
Zealand, CPS Technologies in France, ABnote Europe, s.r.o. in the Czech
Republic, and American Bank Note Company and Arthur Blank & Co. in the
United States. For more information on American Banknote, visit www.americanbanknote.com
or call 201-592-3400. For more information on all of Keystone’s
card products, visit www.keystoneplastics.com
or call 416-293-3842.
CONTACT: American Banknote Corporation
David M. Kober
Executive Vice Presiden
201-592-3400
tkober@americanbanknote.com