On Friday 14 March David Beeby, CEO of Innovia Group, confirmed that Innovia Security will be providing polymer substrates to the Bank of England (BoE) for the new £5 and £10 banknotes.

A statement by Mr Beeby was posted on the Innovia Films website :

“We are delighted that the contract with the Bank of England for Innovia Security to supply Guardian® polymer substrate for the next generation £5 and £10 notes has now been signed.  We will now push forward with our plans to construct an Innovia Security plant on land adjacent to our Wigton, Cumbria BOPP facility.  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 and will result in 70 to 80 additional jobs.  This means that the Bank of England will join 23 other countries already using Guardian® banknote substrate.”

See related articles: Bank of England confirms UK Polymer Banknotes