Bad paper shuts banknote printers
The wrong type of paper has forced the temporary shutdown of a UK factory run by the world's largest banknote printer.
The company, De La Rue, prints Bank of England notes as well as currency for 150 other countries. It said the quality of the paper delivered to its factory in Overton, Hampshire, was not up to standard, halting production at the site.
Shares in De La Rue were down to their lowest level in three years on Tuesday because the firm announced that its paper revenue will be "materially lower" than forecast. Its shares fell by 2% on Wednesday.
Some analysts believe the problems at the firm are likely to damage its reputation and its relationship with national banks.
De La Rue also produces security documents such as fiscal stamps, labels for authentication and passports, as well as supplying money-sorting equipment to central banks.
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