Pollard Banknote Limited (TSX: PBL) (Pollard Banknote) is pleased to announce that its new 22-station TRESU press—the lottery industry's most advanced instant ticket printing press—is now in operation.
The press, unveiled on September 21, is located in Pollard Banknote's 90,000-square-foot production facility in Ypsilanti, Michigan. The ribbon cutting ceremony featured several state and local dignitaries, as well as lottery industry officials.
"All of us at Pollard Banknote are very excited to demonstrate our new state-of-the-art press to our customers. Our core business is instant ticket printing, and we continue to seek out and invest in the most cutting-edge innovations in equipment and logistics with the goal of improving capacity, efficiency, and the quality of our print products. This press is one example of that commitment," said Doug Pollard, Co-Chief Executive Officer, Pollard Banknote.
"This major capital investment is a result of tremendous support from the lottery industry, as well as Pollard Banknote's belief in the continued growth potential of the lottery retail space. Increased sales volumes and the expansion of our client base in recent years have been the main impetus behind our purchase of the new TRESU press. We are now in an even better position to support our lottery customers in their goal of increasing proceeds for good causes."
Pollard Banknote's TRESU press includes a number of unique features that make it the world's most efficient and flexible inline instant ticket press. With a production capacity increase of approximately 35 percent, Pollard Banknote will be able to significantly grow its volumes, while at the same time transition to a more efficient production platform.
"Pollard Banknote has been a fixture in the Michigan manufacturing industry for close to two decades, and over this time the plant has had an impressive worldwide reach, with tickets being printed for more than 20 states and for international lotteries throughout Europe and as far away as Australia," noted Congresswoman Debbie Dingell. "This new press—a $20 million [USD] investment—signifies the company's continued commitment to the state of Michigan and our workers."
Ypsilanti Township Supervisor, Brenda Stumbo added, "This new investment will help keep skilled manufacturing jobs in Michigan. Pollard Banknote currently employs about 150 Michiganders—a number that is expected to grow with new contract awards. In addition to an overall annual salary expenditure of approximately $8 million, the company contributes to the local economy through expenditures to suppliers and utilities, as well as through state and local taxes."
The TRESU press is the latest in a series of improvements and expansions that Pollard Banknote has undertaken in Michigan. The company's history in Michigan began with the purchase of Webcraft Games, Inc., an instant ticket printer, in 1996. Pollard Banknote began printing for the Michigan Lottery in that same year, and soon after began work on a new facility that more than doubled the company's print capacity in Michigan. This was followed by a building expansion and the addition of an automated finishing line.
Following the official ribbon cutting, guests toured the facility and learned about the broad capabilities of the press, including its high degree of automation and unique custom features. For instance, compared to other presses in the instant ticket industry, this press boasts the most display color stations capable of printing continuously across both the graphic and scratch-off surfaces, all with high-precision registration.
