Innovia opens state-of-the-art facility to manufacture new polymer banknote substrate
Innovia, one of the world’s leading providers of technologically advanced polymer banknote substrate, has opened its new start-of-the-art high security plant at its Wigton site in Cumbria.
The Bank of England’s new polymer £10 banknote substrate is being produced there, ready for circulation next summer. This follows the launch of the Bank of England’s new polymer ‘Fiver’, also manufactured by Innovia, which went into circulation this week.
Both notes are manufactured using Innovia’s Guardian polymer substrate and high-security ClarityTMC film, which means that the new banknotes are uniquely identifiable due to an in-built ‘fingerprint’ in the polymer film.
The company has manufactured approximately 50 billion banknotes for central banks around the world, which represents more than 99 per cent of all the polymer banknotes ever circulated. This new facility in Wigton will also be central to Innovia’s plans to manufacture Guardian polymer banknote substrate for global export.
The opening of the new plant brings the total amount invested in the past two years by Innovia for its polymer banknote business in the Wigton site to well over £40 million and has led to the creation of an additional 80 skilled jobs.
Mark Robertshaw, CEO of Innovia Group, said: “This is a proud moment for everyone at Innovia. We are delighted and honoured to be a key part of the Bank of England’s introduction of polymer banknotes and to inaugurate a truly state-of-the-art plant that will also drive future export business for the UK.”
Rory Stewart, MP for Penrith and The Border and minister of state for international development, who attended the opening said: “It is a huge honour to be opening Innovia’s state-of-the-art facility which is fundamental to the production of the UK’s new polymer notes. This is a historic event, a real milestone in the company’s history, and it is happening right here in the historic market town of Wigton – historic, of course, for many reasons, but now also for being the home to one of the most globally advanced polymer technologies in existence. Not only that, but it brings into Wigton investment in the region of more than £40 million pounds, and the creation of 80 additional skilled jobs. It is a wonderful privilege to represent Wigton, its businesses, and its constituents, and this is a very proud moment for us all.”