Central Banking

De La Rue to take over BoE note printing operation

The UK Department of Trade and Industry has cleared bank note printer De La Rue's take over of the Bank of England's banknote printing operation.

Source: CMP Information

250 of the 450 staff will be retained by De La Rue but the building itself will remain owned by the Bank. The contract is set to run for seven years and will start this spring. It is unclear who will remain in overall charge of the plant when the contract begins.