Neenah Paper has acquired Crane Technical Materials from Crane & Co. for $72 million.
Crane, headquartered in Dalton, Massachusetts, has been the sole manufacturer of dollar bill substrates since 1879, while its paper-making facility at Tumba near Stockholm in Sweden has been operating since 1753 and today is one of the most advanced in the world, following a substantial investment programme that began in 2001.
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