De La Rue wins plastic and paper BoE banknote bid

THE Bank of England has named banknote firm De La Rue as its preferred bidder to print its first plastic notes.

De La Rue have been chosen by the Bank of England as its preferred bidder to print the country's first plastic bank notes. Picture: PA

The Basingstoke-based firm, which has produced bank notes since 1860, is expected to sign an extended ten-year contract that will see it print standard notes from next year, as well as the plastic notes from 2016.

De La Rue has printed notes at the Bank’s plant in Debden, Essex, since 2003 under a contract due to end in April. The company, which prints more than 150 national currencies, will now co-operate with the Bank’s due diligence checks ahead of the contract being formally signed in the autumn.

The decision to print plastic banknotes followed three years of research into the merits of polymer notes over current cotton paper notes. The notes are harder to counterfeit and stay cleaner for longer.