Mint of Finland Ltd. strengthens its position as one of the leading manufacturers of circulation coins and as a provider of related consulting services. To implement its strategy and sharpen its focus, the company has sold its blank manufacturing facility and focuses on its coin business.
In a share deal, Mint of Finland Ltd. has sold its shares in its German blank manufacturing company (Mint of Finland GmbH) for Freiberger EuroMetall GmbH. The transaction includes the Halsbrücke blank factory in Germany and its stake in the Spanish blank manufacturer Compañía Europea de Cospeles S.A. (CECO S.A.) and is effective from 31.12.2023. In the future, Mint of Finland Ltd. will not produce circulation coin blanks.
Mint of Finland Ltd. enhances flexibility, profitability, and competitiveness. The company structure will be clearer, and the operations will be concentrated on the site in Vantaa. Mint will focus on the production and sale of coins, and services related to them.
In the future, Mint of Finland Ltd. will tender for blanks needed for its circulation coin projects and continue the cooperation with the buyer. The on-going projects for the supply of coins and coin blanks to various customers, will be completed by Mint of Finland Ltd. as planned and agreed with each customer.
Mint of Finland Ltd. believes that the competition in the blank and coin market will continue, and that cash will continue to be a practical and secure payment method in the future, even as payment systems are becoming more digital.
Mint of Finland Ltd.provides manufacturing and consulting services related to coins. The company’s customers mainly include central banks and finance ministries of different countries. Mint of Finland is one of the leading coin exporters in the world with target markets in Europe, Asia, Africa and Latin America. The company is owned by the Finnish state.
Freiberger EuroMetall GmbH is the leading independent manufacturer of coin blanks in the heart of Europe. Freiberger EuroMetall GmbH specializes in the distribution and production of circulation coin blanks for the state and private mints all over the world.
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