Business News
Kick-off for Extension of Königstein Paper Mill
Friday 25. April 2008 - One of the currently most substantial industrial investments in the region of Germany known as Saxon Switzerland has been given the go-ahead. Politicians and industrialists gathered to lay the foundation stone for the extension of Papierfabrik Louisenthals production plant at Königstein in Saxony.
They were: federal member of parliament Klaus Brähmig, regional member of parliament Dr. Horst Metz, Saxon Switzerlands district administrator Michael Geißler, Königsteins mayor Frieder Haase, Verena von Mitschke-Collande, the owner of Giesecke & Devrient GmbH, and Dr. Walter Schlebusch, executive director of the Banknote divisions at G&D. One of the worlds fastest and most advanced cylinder mold machines for the production of banknote papers will go into operation at the Königstein paper mill in late 2009. It will enable the plant to manufacture paper for up to 11 billion banknotes a year starting in 2010. G&D is investing a total of about 70 million euros in its production facilities in Saxony.
“This investment is a further chapter in the Giesecke & Devrient success story and a clear affirmation of our commitment to Königstein. I am delighted that the Königstein plant came out top in the international comparison of sites,” stressed Walter Schlebusch, member of the Management Board of G&D, at todays ceremony. “It will make Königstein one of the worlds highest-output production facilities for high-grade banknote paper.”
G&Ds investment in the new paper machine will create over 50 new jobs in the region. The company is not only seeking qualified specialists, but also underscoring its commitment to vocational training: Königstein will be hiring 14 new trainees.
The choice of Königstein as the site of the new paper machine is the outcome of an international comparison of the conditions offered by various potential locations. Königstein prevailed: For a leader of innovation in the production of banknotes and banknote papers, what tipped the scales was the high qualification of the employees at the German site.
G&D is making this investment in response to the growing worldwide demand for high-grade banknote paper. Once the new machine goes into operation, up to 11,000 metric tons of banknote paper will be produced every year. Primarily supplying the international market, the Königstein plant is G&Ds largest production facility for the banknote papers used in foreign currencies. G&D supplies banknotes and banknote papers to over 100 countries.
Manufacturing the special paper marks the first step in the process of producing a finished banknote. The paper for banknotes is manufactured by G&D subsidiary Papierfabrik Louisenthal, which has two locations: Louisenthal on Tegernsee, and Königstein. Papierfabrik Louisenthal employs a total of 725 people, 225 of whom produce the special paper in Königstein.