De La Rue PLC Announcement Of Significant Expansion In Malta
September 15 2021 - 2:00AM
RNS Non-Regulatory
TIDMDLAR
De La Rue PLC
15 September 2021
15 September 2021
DE LA RUE PLC
ANNOUNCEMENT OF SIGNIFICANT EXPANSION IN MALTA
De La Rue plc (LSE: DLAR) ("De La Rue", the "Group" or the
"Company") is delighted to announce a major upgrade to the Group's
facilities in Malta, increasing its existing 14,000 square-metre
factory to become a 29,000 square-metre, state-of-the-art,
manufacturing site. This investment is supported by Malta's
economic development agency, Malta Enterprise, and the Government
of Malta.
This project is a progression of De La Rue's strategy, aligning
to, and supporting, the Turnaround Plan for both divisions. It will
be delivered without exceeding the original total of GBP79.8
million investment outlined in the Turnaround Plan. Approximately
100 new jobs will be created in Malta as a result of this
investment as the expansion will be delivered progressively with
the majority of the work targeted for completion by the end of 2024
.
The new facility will be larger, more modern and more energy
efficient, while improving the capability, flexibility, and
efficiency of De La Rue's overall footprint. In line with the
growth expectations of the Turnaround Plan and beyond, it will
double the capacity for tax stamps and brand protection labels for
the Group's Authentication division. It will also extend De La
Rue's industry 4.0 journey, with manufacturing fully integrated
with the Company's traceability software platforms.
For Currency, it will create the largest banknote facility in De
La Rue's portfolio, provide a more flexible manufacturing
footprint, and further solidify the Company's Business Continuity
Plan. It marks a continuation in De La Rue's progression towards
more sustainable manufacturing, which in turn supports the Group's
customers to reduce their environmental impact.
Speaking about this expansion, Clive Vacher, CEO said, "De La
Rue has been manufacturing in Malta since 1975 and we are extremely
proud of the skilled workforce we have there. The De La Rue Malta
site has a strong track record of effectively managing investment
and consistently meeting targets against customer commitments. We
continue to be humbled and honoured by the welcome of the Maltese
people and government, and we look forward to further long-term
continued cooperation."
Malta Enterprise is the country's economic development agency,
tasked with attracting new foreign direct investment and
facilitating the growth of existing operations. This project
reflects the ongoing strong relationship between De La Rue and the
Government of Malta.
Enquiries:
De La Rue plc +44 (0) 7387 122645
Clive Vacher Chief Executive Officer
Rob Harding Chief Financial Officer
Matthew Rose Director of Tax, Treasury, Investor
Relations
Kirstie Thomas Investor Relations Manager
Brunswick +44 (0)207 404 5959
Stuart Donnelly
Ed Brown
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