Smart card manufacturer Giesecke & Devrient said it has made a major inroad into the Russian market with a potential card production capacity of 10 million cards.

Through an agreement with Goznak PPFG, a state-owned bank-note printer in Perm, Russia, Giesecke & Devrient initially will help boost the supply of prepaid telephone cards.

G&D, Goznak, and a third company, Znak Moscow, formed a joint venture last year to develop the production facility.

"Local production lets us speed delivery, putting us in the best possible position to meet the growing demand for smart cards in Russia and Eastern Europe," said Jurgen Nehls, head of G&D's cards and card systems division.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.