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De La Rue to increase production capacity with £20m investment
De La Rue is expanding manufacturing capacity for its SAFEGUARD® polymer substrate with an additional production line at Westhoughton, near Bolton.
The new line will be located in a recently acquired building adjacent to its existing premises in Westhoughton, and is set to more than double current polymer production capacity.
The company expects the new line to be fully operational before the end of 2021. De La Rue also plans to recruit up to an additional 70 people during the next two and a half years as part of this investment.
De La Rue is to invest £20m to double production capacity at its Bolton plant and create 70 new jobs / Picture: De La Rue
The investment was confirmed as part of a trading update, along with developments in its polymer banknote strategy.
De La Rue said as a result of the continued positive momentum of customers switching to its SAFEGUARD® polymer substrate, it now plans to spend approximately £20m on its polymer strategy, an increase on the £15m previously indicated. It also confirmed the total aggregate 3-year investment for its turnaround plan remains unchanged at £79.8m.
Clive Vacher, chief executive officer of De La Rue, said, “I am delighted to announce further investment in manufacturing and job creation in the North West of the UK, as we continue to increase our polymer market share globally. The Currency team has done a remarkable job in bringing De La Rue’s SAFEGUARD® polymer substrate to a position of industry leadership.
“It is a fitting endorsement of the technical and operational capabilities of our Westhoughton site, that we have made the decision to concentrate our polymer substrate manufacturing into this Centre of Excellence.”