Innovia Security reaches agreement with Bank of England
13 March 2014
Melbourne, Australia - Following the Bank of England’s decision in 2013 to print the next £5 and £10 banknotes on polymer substrate, the Bank announced today that it has entered into a contract with Innovia Security to supply Guardian™ polymer substrate for the next generation £5 and £10 notes.
Innovia Security will construct a plant on land adjacent to the other division of the business - Innovia Films - in Wigton, Cumbria. This will enable Guardian™ substrate to be produced at the same location as the manufacture of Clarity™C, the base film used to make Guardian™. The plant is expected to be completed and operational by 2016.
The Bank of England will join 23 countries already using Guardian™ banknote substrate. Read the full list of Guardian™ issuing nations.
The establishment of the Innovia Security plant in Wigton, as well as the planned additional investment by Innovia Films to increase its film manufacturing capacity, will add to local jobs in the area. The program of works represents a substantial increase in the global capacity for the production of Guardian™ designed to meet the growing demand for the product worldwide.
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