De La Rue has been awarded a contract to jointly supply polymer for the Bank of England’s new £50 bank note.
The eight-year contract which sees the provision of the polymer substrate split between De La Rue and CCL, also includes future production of polymer for the current £5 and £10 banknotes.
Under these contracts the first call-off volume for production of the initial launch stock of £50 has been awarded 45% to De La Rue and 55% to CCL Secure Limited. The next call-off, which will cover the polymer £5 and £10, is expected to take place in 2020.
This award demonstrates further significant progress for De La Rue’s Safeguard® product, building on the 2017 contract award for 25% of the new £20 launch polymer.
The Bank of England started a formal public procurement process in December 2018 for the supply of polymer substrate for the £5, £10 and £50. The final decision to award contracts to De La Rue and CCL Secure was taken by the Court of the Bank of England. Supply of polymer under the new contract will commence in 2020 and the composition of the next £50 will be the same as for the current £5, £10 and £20.