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Bank of England picks De La Rue, Australia's CCL for plastic banknotes

Published 04/06/2019, 12:28
Updated 04/06/2019, 12:30
© Reuters. FILE PHOTO: The Bank of England and the Royal Exchange are seen in the City of London
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LONDON (Reuters) - The Bank of England said on Tuesday it had awarded an eight-year contract to produce the polymer for a new plastic 50-pound banknote and future five and 10-pound notes to printers De La Rue (LON:DLAR) of Britain and Australia's CCL Secure.

CCL Secure, previously known as Innovia, is currently the sole producer of the polymer substrate for five and 10-pound notes.

De La Rue will provide 45% of the substrate for the initial launch stock of 50-pound notes, and CCL 55%, starting next year.

CCL and De La Rue will also supply substrate for future five and 10-pound notes.

De La Rue is currently responsible for printing all Bank of England notes at a BoE facility in eastern England.

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