Reserve Bank of Australia Annual Report – 1995 Note Printing Australia

Note Printing Australia (NPA) manufactures currency notes for Australia and some other countries, as well as a range of other security products. It is a Division of the Bank, but operates as a separate business enterprise with its own Board. NPA has a staff of 265.

During 1994/95 NPA produced 260 million Australian polymer notes, a reduction of 100 million on the previous year. The decline in domestic note production mainly reflects the greater durability of polymer notes compared with the paper notes which they are replacing. NPA tendered successfully for the production of notes for Papua New Guinea, including the first reprint order for a circulating polymer note outside Australia. Another country has placed an order for a commemorative polymer note, and discussions are progressing with several other potential customers. Overseas interest in polymer notes is increasing as NPA continues to improve the technology, and as concerns about the spread of counterfeit paper notes show no signs of abating.

NPA also developed further its niche business in other security products, including the redesign and printing of Australian passports, printing intaglio stamps for Australia Post, a second print of the NPA-designed Commonwealth Bank travellers' cheques, and printing of Treasury bonds.

Sales from numismatic business grew by more than 50 per cent in 1994/95, with several new products developed and successfully marketed, including an album to mark the 25th, 20th and 10th anniversaries, respectively, of the first issues of paper $5, $50 and $100 notes. The Exhibition and Display Gallery at NPA's Craigieburn plant has a range of exhibits covering the design and printing of Australia's notes; it also provides an opportunity for visitors to see notes in production and attracted 12,000 visitors last year.

Several steps were taken during the year to raise the quality of NPA operations. These include the progressive implementation of a team structure among its staff and the installation of a new computer system and related software designed to provide maximum support to manufacturing and marketing activities. NPA's first three-year Enterprise Agreement expired in mid 1995 and negotiations on a new agreement are under way.

The Board of NPA is chaired by G.J. Thompson, Deputy Governor. Other members are F.M. Bethwaite, Managing Director, Renison Goldfields Consolidated Limited and J.N. Davenport, a former member of the Bank's Board.