WINNIPEG, MB, April 25, 2006 -- The Royal Canadian Mint (RCM)
announced today that it has signed a licensing agreement with Jarden Zinc
Products Incorporated (Jarden) to produce multi-ply plated coin blanks for
potential customers in the Americas. Multi-ply coin blanks are made through a
patented technology process that has been used for Canadian coins since 2000
and has become more and more popular with other nations. The process,
developed by the Royal Canadian Mint, delivers higher quality coins with more
durability at a much lower cost.
Jarden will manufacture up to one billion coin blanks annually for the
RCM. The multi-year contract is valued up to $27 M CDN.
The RCM produces Canadian circulation coins, as well as coins and blanks
for foreign countries. With coins and blanks produced for over 62 countries in
the past 25 years, the RCM is an established leader in the currency
marketplace. In 2005 sales of foreign circulation coins reached
$43.8 Million CDN, up from $24.3 M in 2004, and $5.6 M in 2003, thanks to a
more aggressive and targeted sales approach. Demand for Canadian circulation
coins increased by 24% in 2005.
The RCM has recently more than doubled its plating facility in Winnipeg,
Manitoba to help meet this increasing demand in both the Canadian and foreign
markets. Increased multi-ply capacity will be available in the fall of 2006
through this agreement.
"The Royal Canadian Mint has long been at the cutting edge of minting
technology," said Marguerite F. Nadeau, Acting President and CEO of the Royal
Canadian Mint. "The world-wide increase in demand for multi-ply plated coins
speaks to our ability to provide high quality products and services at
competitive prices. We are pleased to build on an already successful
relationship with Jarden and look forward to working with them to expand multi-
ply plating services to the world markets."
Al Giles, President of Jarden Zinc Products stated that "Coinage
represents a significant part of our business at Jarden Zinc Products, and our
Partnership with the Royal Canadian Mint is the most important relationship we
have in the international coinage markets. We are extremely excited about the
chance to work with Canada to expand this business, and we continue to be
impressed with the creative and entrepreneurial spirit that exists at RCM."
The Royal Canadian Mint, an ISO 9001 2000 certified company, is the Crown
Corporation responsible for the minting and distribution of Canada's
circulation coins. In operation since 1908, the Royal Canadian Mint is
recognized as one of the largest and most versatile mints in the world,
offering a wide range of specialized, high quality coinage products and
related services on an international scale.
Jarden Zinc Products is the largest North American producer of solid zinc
strip and zinc-based products. Its products are used throughout the world in
the production of coins and other items. The company is ISO 9001:2000
certified ensuring a consistent production of products that meet customer
expectations of quality and reliability.
Note: This news release contains "forward-looking statements" within the
meaning of the federal securities laws and is intended to qualify for the Safe
Harbor from liability established by the Private Securities Litigation Reform
Act of 1995, including statements regarding the outlook for Jarden's markets
and the demand for its products, earnings per share, future cash flows from
operations, future revenues and margin requirement and expansion, the success
of new product introductions, growth in costs and expenses and the impact of
acquisitions, divestitures, restructurings and other unusual items, including
Jarden's ability to integrate and obtain the anticipated results and synergies
from its acquisitions. These projections and statements are based on
management's estimates and assumptions with respect to future events and
financial performance and are believed to be reasonable, though are inherently
uncertain and difficult to predict. Actual results could differ materially
from those projected as a result of certain factors. A discussion of factors
that could cause results to vary is included in the Company's periodic and
other reports filed with the Securities and Exchange Commission.
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For further information:
Pam Aung Thin
Vice-President Communications
Tel.: (613) 993 5092
Tel.: (613) 991 5342
Cellular: (613) 220 5096
E-mail: aungthin@mint.ca
