News & Events

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Quality issue hits world's largest money printer

The world's largest banknote printer, De La Rue, has temporarily suspended some printing at its largest plant in the UK following the discovery of "quality and production irregularities" in its paper production facilities.

De La Rue is involved in producing currency for 150 countries around the world, as well as security documents such as passports.

In Australia, De La Rue operations have historically focused on cash-handling equipment; its Cash Systems Division was split off in a management buyout in 2008 and renamed Talaris.

At the time of writing, shares in the company had fallen nearly 16% on the news that paper production and sales in 2010/11 would be "materially lower" than originally planned following the factory glitch, according to the group.

In a statement, the group said it had become apparent that "some paper production has failed to meet certain quality specifications".

It added: "The full impact on the current year's financial results and on the group's prospects has yet to be determined.

"A further announcement will be made as soon as the board has been able to assess the financial and operational implications of these matters."

Source: http://www.proprint.com.au/News/220615,quality-issue-hits-worlds-largest-money-printer.aspx