A tiny country in the middle of the Mediterranean Sea doesn’t seem like an ideal place to build a US$100 million production facility. But a little knowledge can change how things look. When Crane Currency was looking to build its state-of-the-art bank note printing facility, Managing Director John Scott knew exactly where to go. Scott’s knowledge as a 40-year industry veteran who has built facilities all over the world led him straight to the island of Malta, about 50 miles (80 kilometers) off the coast of Sicily.
Crane needed its new production facility to be within the European Union, near its customers and with minimum exposure to natural catastrophes. Malta offered all of that. Thanks to previous bank note production on the island, Malta also had an experienced workforce as well as space to build Crane’s massive facility within a few miles of the port and airport.
With the location secure, Crane turned to FM Global to help deliver a highly protected facility. Crane built to FM Global standards, a Crane CFO mandate since 2014. The company also used FM Approved products when possible, and looked to FM Global for guidance in building an adequate water supply for the plant’s fire suppression system on an island void of lakes and rivers.
An FM Global partner since 2001, Crane has always made resiliency a priority. As the provider of currency solutions to central banks around the world, resiliency is not an option; it’s a necessity. Or, as Crane Currency Risk Manager Tim Golden points out, “The only good claim is no claim.”