Read all about the Grand Numismatic Alliance
Started by Bimat, August 12, 2012, 08:57:36 AM
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Quote from: Bimat on August 12, 2012, 08:57:36 AMDe La Rue-Cash machineThe business of printing money thrives on financial crises.Investors feared that De La Rue had done irreparable damage to its own reputation in 2010, when it botched an order for high-quality banknote paper from a big client, said to be India's central bank. De La Rue had declared the paper met the required standards when it had not. Its chief executive resigned and the share price almost halved. Before long the firm had to fend off a takeover bid from Oberthur. De La Rue's fortunes have improved under Mr Cobbold, who has a background in engineering. He concedes that supply-chain problems had been missed in part because of the focus on forging relationships in a sales-led business. He has invested to improve the manufacturing process.De La Rue's stock has recovered the ground it lost in 2010. Investors with one eye on the euro-zone crisis are aware that the firm has a proven ability to design, print and deliver brand new currencies against a tight deadline. Its accomplishment in supplying 1.75 billion new Iraqi banknotes, starting just two months after the country's interim head called for a new currency, is especially notable. De La Rue's plants in Britain, Kenya, Malta and Sri Lanka switched to a seven-day working week to meet the deadline, and the firm chartered 27 Boeing 747s to deliver the freshly printed banknotes. Countries that might need to conjure up a new currency quickly know who to call.