Morpho completes acquisition of Carvajal's card division

After completing all required approval procedures, Morpho (Safran group) today announced that it has finalized the acquisition of Valores Plasticar, the card manufacturing and personalization centers of the Colombian group Carvajal, initially announced on July 12, 2011. This transaction positions Morpho as a leader in the Latin American banking market.

Commenting on the closing, Philippe d'Andréa, Executive Vice President, Morpho, e-Documents Division, said: "We are delighted to have finalized this transaction, which is perfectly aligned with Morpho's development strategy within the security market in this part of the world."
The new business will be integrated into Morpho as of October 1, 2011. Marcelo Bellini Garcia has been appointed Managing Director of the new operation. Mr Garcia previously served as Sales and Marketing Director, Brazil and Vice President Sales Banking and IAM, Americas of Morpho's e-Documents Division.