American Banknote acquires Keystone Manufacturing
24 March, 2008
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American Banknote Corporation, parent of the ABnote Group, announced recently that it has acquired Keystone Manufacturing (Plastics) Ltd., of Toronto, Canada.
The acquisition provides the ABnote Group access to Keystone’s customers, along with the positive reputation of Keystone’s position in the smart cards industry.
As a result of the transaction, Keystone will gain immediate access to a wide range of technologies including Arthur Blank’s “green” initiatives. Keystone will supplement its existing product lines through ABnote’s global strength in secure card issuance and identification products, as well as through its secure printing, warehousing, fulfillment services and information technology.
“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, who will be staying with the company.
