As part of its ongoing review of Global operations, De La Rue has today announced that it will continue to print currency at its factory in Malta. The company has been working in Malta for over 40 years and last year announced that it was creating a Centre of Excellence for Identity and Security Print in Malta, as part of a global investment of €33 million in equipment, factory upgrades and skills. The works to create the Centre of Excellence are well advanced, today’s announcement will see De La Rue continue to print currency in Malta within the new Centre of Excellence.
De La Rue is the World’s largest commercial printer of both banknotes and passports. Today’s announcement comes on the back of a solid business performance by De La Rue, who confirmed that the move was designed to provide the flexibility to meet current and future customer requirements. Martin Sutherland, the CEO of De La Rue commented: ‘We have refined the implementation plan for our Global footprint to give us a better blend of outsourcing with a more flexible in house production capacity, and as a result will be keeping the remaining banknote print line open in Malta. Our highly skilled workforce in Malta have demonstrated that they are both flexible and productive – this is exactly what we need’.
The Prime Minister, Joseph Muscat met De La Rue Chief Operating Officer Mr Rupert Middleton and Mr Edward Chetcuti, Director and Head of Malta Operations today. During the meeting he commented: ‘Malta has a long and proud relationship with De La Rue, and we are delighted that following continuous engagement between the two sides, the company has decided to continue to print currency here in addition to the Global Centre of Excellence for Identity and Security Print. Yet again, Malta has demonstrated why it is such a great place to do business. We continue to attract and retain great businesses here, and we are delighted that De La Rue will continue printing currency here. Malta is committed to new training programmes that will help the industry source more trained individuals ready to enter this sector.’
As a result of today’s announcement, contrary to previous intentions, De La Rue will not be reducing its workforce and will not be offering further voluntary retirement schemes. This in line with the revised need for an increased workforce aiming at a total resource of around 500 people in Malta.
- Ends -
De La Rue plc +44 (0)1256 605 000
Robin MacKenzie Marketing Director
Brunswick +44 (0)207 404 5959
About De La Rue:
De La Rue’s purpose is to enable every citizen to participate securely in the global economy. As a trusted partner of governments, central banks and commercial organisations, De La Rue provides products and services that underpin the integrity of trade, personal identity and the movement of goods.
As the world’s largest designer and commercial printer of banknotes, De La Rue designs, manufactures and delivers banknotes, banknote substrates and security features to customers in a world where currency will continue to be a key part of the developing payments eco-system. De La Rue is the only fully integrated supplier of both paper and polymer banknotes, and creates security features that ensure banknotes are protected against counterfeiting.
De La Rue is the world’s largest commercial designer and printer of passports, delivering national and international identity tokens and software solutions for governments in a world that is increasingly focused on the importance of a legal and secure identity for every individual.
De La Rue also creates and delivers secure product identifiers and ‘track and trace’ software for governments and commercial customers alike to help to tackle the challenge of illicit or counterfeit goods and the collection of revenue and excise duties.
De La Rue is listed on the London Stock Exchange (LSE:DLAR). For further information visit www.delarue.com