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V13 2010 INDEX       E-SYLUM ARCHIVE

The E-Sylum: Volume 13, Number 30, July 25, 2010, Article 23

BANKNOTE PRINTER DE LA RUE HALTS PRODUCTION OVER PAPER QUALITY

Oops! According to this Sky News article, paper quality seems to have (at least temporarily) derailed the printing of banknotes for countries around the globe. Ouch! -Editor

UK Banknotes The quality of the world's banknotes has been questioned after the leading printer suspended production over paper issues.

De La Rue, which produces banknotes for 150 countries from its Hampshire base, will not confirm whether inferior notes have ended up in circulation.

The company has been forced to suspend the relevant production and shipment departments to allow for an investigation.

The probe was issued after delivery teams noted paper issued to central banks and other printers was sub-standard.

De La Rue discovered irregularities in the quality and production of the notes at its 600-worker plant in Overton, Hampshire.

"It is apparent that some paper production has failed to meet certain quality specifications," a spokesperson said.

"As a consequence, the production and shipment of this specification paper has been suspended while the circumstances are fully investigated."

How long the problem went undetected remains unknown.

The uncertainty has seen De La Rue's share price fall to a three-year low after the company warned its paper revenues are likely to be "materially lower" than expectations.

Analysts are fearful the problems will damage the company's reputation with central banks.

The article was illustrated with an image of Bank of England notes. Is that just a stock photo, or does the BOE buy its paper from De La Rue as well? -Editor

To read the complete article, see: Printing Error May Undermine Banknotes (news.sky.com/skynews/Home/Business/Printing-Error-Undermines
-De-La-Rues-Banknotes-Halting-Production-At-Printers-Hampshire-
Plant/Article/201007315668682)

Wayne Homren, Editor

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