De La Rue announced it was to close its Peterborough facility at the end of last year (PrintWeek, 27 November 2003), following a review of its security paper and print division.

TALL Group managing director Martin Ruda said the company was constantly looking at the market for opportunities to purchase or joint ventures.

This fits in with our plans to continue to expand our business in our core product area, he said.

The two parties will work together to ensure a trouble-free transfer of the customer base.

Clearly we are looking for opportunities such as this, and the move follows a number of discussions with several parties since the closure announcement, said De La Rues head of corporate affairs, Mark Fearon.

The customer base comprises some 300 clients, a mixture of financial institutions and corporate companies. Fearon emphasised that the purchase did not include the plant or any equipment.

Story by Andy Scott