Bank of England (BoE) has tapped Australia-based Innovia Security to print £5 and £10 bank notes with Guardian polymer substrate.
The move by BoE is part of its decision in 2013 to print the £5 and £10 notes on polymer substrate.
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In order to produce the polymer substrate in the UK, Innovia Security will build a plant next to its Innovia Films division in Wigton, Cumbria, where Clarity C, the base film used to make Guardian substrate, is manufactured.
The new plant, which is expected to be operational by 2016, will thus allow Innovia to manufacture raw material and Guardian polymer at one location.
The establishment of new Innovia Security plant and additional investment at Innovia Films to increase manufacturing capacity will add new jobs in the area, claims the company.
Bank of England will join 23 other countries that are already using Guardian banknote substrate.
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