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PRIVACY
Manufacturing

De La Rue creates 70 jobs after picking Bolton for new manufacturing line

The company is building a new line to increase production of its polymer product Safeguard

De La Rue products

Bank note printer De La Rue has revealed it is opening a new manufacturing line in Bolton, creating around 70 jobs.

The company, which makes bank notes and passports for countries around the world, is planning to open a new line at Westhoughton, near Bolton, to expand its production capacity for it Safeguard polymer substrate. The polymer is used in its bank notes.

The new line will be built next to the De La Rue's existing Westhoughton site, in a building recently acquired by the company. It is expected that the line will be fully operational by the end of De La Rue's current financial year and that it will double the firm's production of the polymer.

Around 70 jobs will be created to work on the line over the next two and a half years.

Clive Vacher, CEO of De La Rue, said: "I am pleased that we are able to report increased adjusted operating profit expectations for the year, due to positive trading. We remain focused on delivering shareholder value through the successful execution of our turnaround plan.

"In addition, I am delighted to announce further investment in manufacturing and job creation in the North West of the º£½ÇÊÓÆµ, 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."

De La Rue added that it had seen strong demand from customers for its Safeguard polymer and as a result it was increasing its investment in its polymer strategy from £15m to £20m.