RCS - De La Rue PLC - Announcement Of Significant Expansion In Malta

De La RueAnnouncement

15/09/2021 07:00

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RNS Number : 7668L  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 £79.8 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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