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De La Rue signals end for Wycombe.(High Wycombe plant to close)(Brief Article)
De La Rue plans to close its High Wycombe plant, with the potential loss of 350 jobs, after a strategic review of non-banknote printing operations identified 'significant duplication and surplus capacity' in security printing.
Five months ago PrintWeek predicted that the High Wycombe plant's future was in question (PrintWeek, 31 May).
Ironically, De La Rue simultaneously announced the acquisition of security gravure printer House of Questa from Canada's MDC Corporation for pounds 3.2m.
De La Rue also issued its second profits warning of the year, and said its full-year figures would be significantly below last year's losses in its security products division.
GPMU Chiltern and Thames Valley branch secretary Ian Cummings said closure would be 'a bloody disaster. Our members feel shocked and betrayed, with many facing the prospect of long-term unemployment.'
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