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Producer of banknotes

VHP Security Paper

Producer of banknotes

A long time ago, in 1644, paper was being produced here by the company ‘t Voorslob. Back then they did not produce banknotes, this came to a change in 1880, from then on they started production of banknotes. Van Houten en Palm was the company doing this, VHP for short. Not always did a private company produce banknotes. From 1978 to 1985 the Nederlandsche Bank was owner, but not for long, because the bank sold the company to Van Gelder Papier, who handed it over to Arjowiggings in 2000. There is a new owner since August 2017: Oberthur Fiduciaire from France and the company is again called “VHP Security Paper”.

130 people work at VHP Security Paper in Apeldoorn, revenue is around 60 million euro’s yearly. Abroad returns come to the company in both export – 95% of production goes abroad – as in the organization. Co-operation with the French did have some cultural consequences. The Dutch are a bit more direct, take quick decisions and have less strict hierarchical lines. These are cultural differences you need to account for, but co-operation runs smoothly.

VHP Security Paper in Apeldoorn produces banknotes for numerous countries in the world, among which the European Union. It is one of the only four factories in the world allowed to produce Euro paper. But the company also produces banknotes for Asian, Central America and African market. This happens based on tenders by the national banks. Some countries ruled that their banknotes should be produced on their own soil, and so they don’t write out tenders. The United States, Russia and China for example, which accounts for a total of 40% market share.

The company in Apeldoorn has a strong focus on innovation. When asked about their best export prestation, Nolsen responds: “We managed to prevent the aging of the banknotes using a special coating. This coating is patented by us, and is now in use all over the world. We are proud of this.” Concerning export ambitions VHP Security Paper wants to be the best producer of banknotes in the world. “When we manage this, the export will follow by itself.”

Export countries



VHP Security Paper | Andre Nolsen