Banknote printer De La Rue named as Bank of England preferred bidder

Banknote printers De La Rue, which employ 400 in the North East, are on the cusp of a 10-year contract to print Bank of England money

De La Rue products
De La Rue products

Banknote printer De La Rue has been selected as preferred bidder for a 10 year contract to print bank notes for the Bank of England, it has been announced.

The contract is due to start in April 2015, according to the stock market note, and De La Rue said it will cooperate fully with the bank in the coming weeks, to make sure it meets all the due diligence checks, ahead of the contract being awarded.

The relationship between the Bank of England and De La Rue, which employs 400 people at its Team Valley operation, dates back many years.

Most recently De La Rue has been printing banknotes at the Bank’s facility in Debden, Essex under a contract the Bank awarded in 2003 and which is due to come to an end in April 2015.

Philip Rogerson, De La Rue Chairman said: “We are delighted that De La Rue has been selected as the preferred bidder for this very prestigious and important contract with the Bank of England.”

The Bank of England started a formal public procurement process in November 2012 for the printing of the Bank’s banknotes.

Subject to successful completion of assurance activities in respect of De La Rue’s bid, finalising the contract and the final award decision by the Court of the Bank of England, the bank expects to sign the contract in October.

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