leadf
logo-loader
viewDe La Rue PLC

De La Rue extends contract to print Bank of England notes

The company will maintain exclusivity in printing Bank of England banknotes and operating the Bank's facility in Essex until 2028

De La Rue PLC - De La Rue extends contract to print Bank of England notes

De La Rue PLC (LON:DLAR) announced that the Bank of England will extend its existing banknote print contract by three years.

It means that the manufacturer will maintain exclusivity in printing Bank of England banknotes and operating the Bank's facility in Essex until 2028.

The current contract was awarded to De La Rue in October 2014, becoming effective from April 2015, while the relationship between the two goes back to 2003.

During the current contract, the pair worked on the launch of three new banknote designs on polymer while, next year, the release of the new Alan Turing £50 note will complete the polymer set.

“Our relationship with the Bank of England, and the operations in Debden, form a cornerstone of our growth strategy for currency design and print, including the conversion of customers worldwide onto cleaner, more secure SAFEGUARD polymer banknotes,” said De La Rue chief executive Clive Vacher.

“The facilities at Debden produce some of the most technically complex banknotes in the world and we work closely with the Bank of England to reduce the environmental impact of our operations.”

Shares dipped 1% to 135.3p on Friday morning.

--Adds shares--

Quick facts: De La Rue PLC

Price: 165.8 GBX

LSE:DLAR
Market: LSE
Market Cap: £3.23 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

2 min read