CBC is reporting breaking news  about the Canadian Bank Note in Hintonburg. According to the report:

A 145-year-old Ottawa printing company has delivered layoff notices to all 190 employees, CBC News has learned, as it closes its local operations.

BA International, which has existed in Ottawa since 1866, announced Thursday morning they plan to let their entire workforce go as of June 2012. It plans to shut down all operations by the end of next year.

The Munich, Germany-based parent company, Gieseke & Devrient, said in a statement it is restructuring its bank note printing. BA International currently produces currency including bank notes.

“As a result of changing conditions in the local Canadian bank note market, BA International will cease printing bank notes for the Canadian and international market at the end of 2012,” the statement read.

As one CBC commenter put it:

The property their buildling is on is worth more that the company. Sell it, tear it down and put up condos no one can afford!!

When I first read the article, I thought it was the Canadian Bank Note on Richmond, but have since learned (thanks to the comment below) that it’s the one on Gladstone.

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