Bank of England selects Guardian™ for next generation £5 and £10 banknotes
20 December 2013
Melbourne, Australia - Bank of England announced that Guardian® polymer substrate will be used for the next generation of £5 and £10 banknotes, which will feature Sir Winston Churchill and Jane Austen respectively.
The decision comes after the Bank conducted an exhaustive three year research process that carefully considered the substrate best suited to the future needs of these denominations. The Bank's work culminated in a three month public consultation process in which people from across the country had the chance to look and touch some test £5 and £10 Guardian™ polymer notes. At the conclusion of the study and with consistently strong support for the switch from the UK public, the Bank announced its plans to launch the £5 in 2016 and the £10 in 2017.
“We're extremely honoured that the Bank of England has selected Guardian™ and we are looking forward to working with the Bank to deliver secure, durable, and clean currency that the British public will enjoy using. With the smaller-sized notes being planned, the £5 and £10 Guardian™ notes will be easier to manage and use,” says Philippe Etienne, Innovia Security's Managing Director.
Innovia Security - owned by UK parent company Innovia Group - is the supplier of Guardian™ polymer substrate for 77 denominations in 23 countries, with manufacturing plants in Melbourne, Australia and Querétaro, México.
As part of its agreement with the Bank, Innovia Security will begin the process of establishing an additional manufacturing plant in Wigton, England close to the headquarters of Innovia Films, the other division within Innovia Group. The plant is expected to be completed in 2016.
Thorough documentation explaining the Bank's decision to move to polymer can be found on the Bank of England website. Detailed information on Guardian™ polymer substrate can be found at www.innoviasecurity.com.
For more information:
T +61 3 9303 0709