Fred Schmidt was so wrong! (15 photos)

More than seven years ago, when Fred Schmidt finished his last day of work at a lottery ticket-finishing plant on Second Line, he didn't think he'd ever see the inside of one like it again.

Schmidt (shown) is so happy he was wrong.

Early this year, he was hired as Pollard Banknote's shipping supervisor for its new plant in Sault Ste. Marie.

That's where we found him today, at the plant's official opening.

Schmidt is once again employed in a ticket-finishing plant much like the one he watched shut down.

But there are some significant differences.

"I had heard good things about the Pollard family, Pollard Banknote and their commitment to the community," Schmidt told SooToday.com. "Plus, we do a lot of work, not just for Ontario Lottery and Gaming, but for other world-wide lotteries as well."

Schmidt said most of the products produced by Pollard Banknote for its lottery customers come through the Sault Ste. Marie plant for quality inspection and distribution.

Pollard Banknote was the company that won a key contract from a producer for the Sault ticket finishing plant about eight years ago.

As a result, the Sault plant formerly located in what's now NuComm wound down operations a little while later.

This year, Pollard Banknote reconfigured a warehouse on White Oak Drive, set up a new ticket-finishing plant and hired 32 Saultites so far, including four of the workers from the old West End plant.

Schmidt was one of those and he says Pollard Banknote is an excellent company to be part of.

"Pollard Banknote from top to bottom is great. Everyone gets along because we work together as a team and if ever I had any questions during set-up all I had to do was call someone in Winnipeg or Ypsilanti and people were helpful."

Schmidt says he looks forward to growth the company is expecting, perhaps as soon as this summer.

During the opening ceremonies, Gordon Pollard, co-chief executive officer of Pollard Banknote said the company plans to increase its Sault workforce, perhaps even doubling it, in the coming months.

The full text of Pollard Banknote Limited Partnership's media release follows.

************************* Pollard Banknote Finishing Plant officially opens in Sault Ste. Marie

Sault Ste. Marie, Ontario – Pollard Banknote Limited Partnership (Pollard Banknote) and 33 new employees were welcomed into the Sault Ste. Marie business community today with the official opening of the organization's new instant ticket finishing plant.

Established under a new long-term contract with the Ontario Lottery and Gaming Corporation (OLG) for the printing of instant lottery tickets, the new facility is Pollard Banknote's fulfillment of a key requirement to generate economic benefits under a 10-year, $130 million contract signed in July 2007 with OLG.

Gordon Pollard, co-chief executive officer, Pollard Banknote, escorted Kelly McDougald, OLG chief executive officer and David Orazietti, Sault Ste. Marie MPP on a tour of the new 22,000-square-foot facility, which is responsible for converting printed tickets into finished books of tickets ready for distribution and sale across Ontario.

"Our company is proud to demonstrate our commitment to OLG and to Ontario by developing our Sault Ste. Marie facility," said Gordon Pollard. "We also appreciate the long-term commitment that OLG has made to us through this significant contract."

The contract and the new plant bring many benefits to OLG and the province according to Kelly McDougald. "This contract helps ensure that our instant ticket business continues to generate significant profits for the province, provides great games to our customers, protects public trust through continuous improvement in ticket security and prize validations, and assists us in being a good partner to the community of Sault Ste. Marie."

It is also very positive news for the local community said David Orazietti. "The government of Ontario is committed to strengthening the local economy and to creating continuous economic and social benefits for both the province and the community. We are proud to have created jobs and opportunities in the city of Sault Ste. Marie through Pollard Banknote's new plant."

Instant games such as bingo, crossword, and Cash For Life make up a significant part of OLG's lottery business, contributing annual sales of about $800 million toward total lottery sales of approximately $2.7 billion.

About Pollard Banknote Limited Partnership

Pollard Banknote Limited Partnership ("Pollard Banknote") is one of the world's leading full-service lottery vendors and is a major supplier to North America's charitable gaming industry.

The firm manufactures instant tickets and provides related programming, design, and marketing support.

As well, Pollard Banknote manufactures ticket vending machines, pull tab tickets and bingo paper, and supplies lottery management services (including warehousing and distribution).

Established in 1907, the firm is owned by the Pollard family and the Pollard Banknote Income Fund and currently serves more than 45 lotteries worldwide, including some of the largest and most respected lotteries in the United States, Canada, Europe, Asia, and Central and South America.

About Pollard Banknote Income Fund

Pollard Banknote Income Fund (TSX: PBL.UN) is an unincorporated, open-end trust which owns 26.7% of Pollard Holdings Limited Partnership, which in turn owns Pollard Banknote Limited Partnership.

About OLG

OLG is a provincial agency responsible for province-wide gaming facilities and lottery games.

With annual revenues of $6 billion and more than 20,000 employees and associates, OLG is one of North America's leading gaming enterprises.

Forward-Looking Statements

This press release may contain forward-looking statements relating to expected future events and financial and operating results of the Pollard Banknote Income Fund ("the fund") or Pollard Holdings Limited Partnership that involve risks and uncertainties.

Actual results may differ materially from management expectations as projected in such forward-looking statements for a variety of reasons, including market and general economic conditions and the risks and uncertainties detailed from time to time in the fund’s periodic reports and registration statements filed with the Canadian securities regulatory authorities.

Due to the potential impact of these factors, the fund disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, unless required by applicable law.

************************* Earlier SooToday.com coverage of this story

$150 million, new jobs for lottery tickets in the Sault