De La Rue PLC De La Rue to supply polymer substrate new £20 note (7459S)
October 05 2017 - 3:00AM
UK Regulatory
TIDMDLAR
RNS Number : 7459S
De La Rue PLC
05 October 2017
DE LA RUE PLC
De La Rue wins contract to supply polymer substrate for Bank of
England's new GBP20 notes
5 October 2017
De La Rue plc (De La Rue or the "Group"), the world's leading
anti-counterfeiting and security specialist for currency, identity,
and brand protection, today announces that it has been awarded a
ten-year contract by the Bank of England to supply the base
material for its new polymer GBP20 notes. De La Rue already has the
contract to design and print the notes, which will be issued in
2020.
Under the terms of the contract, De La Rue will supply the Bank
of England its Safeguard(R) polymer substrate for 25% of the first
call-off volume. Based on estimated timings, production for this
contract is expected to commence in the financial year of
FY18/19.
De La Rue launched its Safeguard(R) polymer substrate in 2012,
and it is now used by 15 issuing authorities across 21
denominations. De La Rue is the only vertically integrated producer
of polymer banknotes, which is one of the Group's fastest growing
product lines. Production volume of Safeguard(R) nearly quadrupled
last year and is expected to double again this year.
Martin Sutherland, Chief Executive Officer of De La Rue
commented:
"We are delighted to have been chosen by the Bank of England to
supply polymer substrate for the new GBP20 notes in addition to our
existing work designing and printing the notes. De La Rue is the
only fully integrated supplier of polymer banknotes in the world.
This new contract is an important strategic milestone and will
increase our share of this fast growing market."
"Having worked closely with the Bank to design and print the new
polymer GBP5 and GBP10 notes, we look forward to continue our close
relationships and the successful delivery of the new GBP20 notes in
2020 and beyond."
De La Rue plc's LEI code is 213800DH741LZWIJXP78.
Enquiries:
De La Rue plc +44 (0)1256 605000
Martin Sutherland Chief Executive Officer
Jitesh Sodha Chief Financial Officer
Lili Huang Head of Investor Relations
Brunswick +44 (0)207 404 5959
Katharine Spence
Oliver Hughes
Notes to editors
1. De La Rue has a 10 year managed service contract awarded in
October 2014 to print Bank of England banknotes at the Bank's
facility in Debden, Essex.
2. Currently c3% of the 172bn banknotes issued each year
globally are printed on polymer substrate.
3. There are currently 2.2bn GBP20 notes in circulation,
representing c60% of the total number of notes issued by the Bank
of England. The annual issuance of the GBP20 notes ranged between
250-320m in the last five years.
About De La Rue
De La Rue's purpose is to enable every citizen to participate
securely in the global economy. As a trusted partner of
governments, central banks and commercial organisations, De La Rue
provides products and services that underpin the integrity of
trade, personal identity and the movement of goods.
As the world's largest designer and commercial printer of
banknotes, De La Rue designs, manufactures and delivers banknotes,
banknote substrates and security features to customers in a world
where currency will continue to be a key part of the developing
payments eco-system. De La Rue is the only fully integrated
supplier of both paper and polymer banknotes, and creates security
features that ensure banknotes are protected against
counterfeiting.
De La Rue is the world's largest commercial designer and printer
of passports, delivering national and international identity tokens
and software solutions for governments in a world that is
increasingly focused on the importance of a legal and secure
identity for every individual.
De La Rue also creates and delivers secure product identifiers
and 'track and trace' software for governments and commercial
customers alike to help to tackle the challenge of illicit or
counterfeit goods and the collection of revenue and excise
duties.
De La Rue is listed on the London Stock Exchange (LSE:DLAR). For
further information visit www.delarue.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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