Ascom sells cash handling business to British firm
The Swiss technology firm, Ascom, is selling its Swiss cash handling activities to Britain's De La Rue for SFr20.9 million ($12.63 million).
Ascom chief executive, Urs Fischer, said in a statement on Tuesday that the sale was a further step in the company’s strategy of refocusing on core activities to boost profitability.
De La Rue will take on all the 142 staff employed in the Swiss cash handling business, which will be renamed De La Rue Cash Systems from April 1.
De La Rue is the world’s largest commercial security printer and paper maker, and is involved in the production of over 150 national currencies as well as a wide range of security documents such as stamps and vouchers. It also specialises in brand protection.
Ascom, formed in 1987 by the merger between Autophon, Hasler and the telecommunications division of the Zellweger group, manufactures and distributes telecommunications systems.
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