The deal was announced on Thursday (20 September) and will see the Basingstoke-headquartered company take on what it said was "one of the most sought after" contracts in the currency design and print market, to produce krona for the world’s oldest central bank.

There is an option to extend the contract by a further four years once the initial perios has expired. Print operations will be carried out at De La Rue’s printing site in Gateshead.

Chief executive Martin Surtherland said: “‘We are delighted to have been entrusted by Sveriges Riksbank to supply their national currency and we look forward to an exciting journey with them over the coming years.”

Sveriges Riksbank previously commissioned Boston, US-headquartered Crane Currency to print its krona in 2002 after selling off its own printing facilities. However, Crane announced in May this year that it would be winding down its banknote printing works in the Swedish city of Tumba.

The Riksbank declared it had no intention to move the printing of krona to Crane's alternative European printing location in Hal Far, Malta, and so the contract was awarded to De La Rue – who came in second place to Crane during a procurement carried out in 2017.

Riksbank head of analysis and development Ann Fridell said: “We are pleased to be working with De La Rue. They have demonstrated impressive credentials – from design, print and delivery to their ethical and responsible business practices. We look forward to working with them in the coming years.”

De La Rue currently employs around 2,760 people across more than 140 countries in four continents. In its full-year report in March 2018 it reported sales of £493.9m.