Guatemalan banknotes to be produced in Poland

The Polish Security Printing Works (PWPW) have signed a contract with Banco de Guatemala for the production of five and 10 quetzales banknotes. Production will start this year, the company announced.

PWPW stated in a press release that the contract had been signed on Monday. Banknotes of both denominations will be printed with an admixture of synthetic fibres.

"This will be the biggest order to date in our cooperation with the Guatemalan central bank," PWPW President Maciej Biernat was quoted in the release as saying. "For several years, we have been successively conquering the Latin American market, and Guatemala is already one of our regular contractors. We are very pleased because export orders are an important source of diversification of income for the Works."

The press release explains that PWPW has been doing business in Latin America since 2011. Do date, the company has also produced banknotes for Paraguay among others and is currently carrying out several orders from countries of the region, including 55 million bank notes for the Dominican Republic and 170 million for Honduras. The firm has also produced elements of passports for Equador and is this year producing passports for Honduras.

Biernat stressed that "Latin America is and attractive but very demanding market."