Security printing company De La Rue will be investing €33 million in its currency printing facility in another step towards the creation of its Centre of Excellence for Identity and Security Print in Malta. As a result of this investment in equipment, factory upgrades and skills, the company is expected to increase its workforce up to 500 from the current 440.
De La Rue has been operating in Malta since 1975 and also has a passport printing facility. The decision means that, contrary to previous intentions of reducing its workforce, the company will be retaining and investing further in its banknote print line in Malta.
In its announcement, De La Rue said the move was designed to provide the flexibility to meet current and future customer requirements. The company also praised its highly skilled workforce in Malta, noting that the flexibility and productivity the workers have demonstrated are exactly what the company needs.