Dalton paper maker buys tech unit

(File photo: Nancy Palmieri for The Boston Globe)

Dalton paper maker Crane & Co. said it will buy the security technology unit of an Atlanta nanotechnology firm for an undisclosed price.

The acquisition of Visual Physics from Nanoventions will give Crane, best known for its production of paper for US currency, control of advanced technology used to prevent counterfeiting.

Privately-held Crane, which has operated in Western Massachusetts for more than 200 years, provides currency paper and anti-counterfeiting measures to central banks around the world. (The 2005 Globe file photo above this story shows a Crane worker checking a sheet of paper that will become $20 bills.)

Besides currency paper, Crane also makes fine stationery for social occasions and business. Its product offerings include silk cases that can be used to carry a laptop or a portfolio. (The image of the silk case at right was taken from Crane's website.)

In a statement, Crane chief executive Charles Kittredge commented on the acquisition his company announced today.

“The strategic investment in this standard-setting technology for the future of banknote security is a strong symbol of our long-term commitment to the currency market,” Kittredge said in the statement. “It also demonstrates our determination to become the clear market-leader in banknote quality and innovation.”
(By Robert Gavin, Globe staff)