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Jul 26, 2022 · Portals: obligations to customers, employees, suppliers and creditors will be met. Historic papermaker Portals has rocked the industry with the announcement that it plans to close its Overton banknote paper mill with more than 300 jobs likely to go as a result. Portals has been making banknote and security paper for more than 300 years.
- Jo Francis
Jul 27, 2022 · 27 July 2022. Google. The mill has been in Overton, Hampshire, since 1922. An historic papermaker has announced the closure of its banknote paper mill business, with 300 jobs likely to go. Portals ...
Following the announcement that Portals paper business will gradually withdraw from the banknote market with the closure of Overton Mill, we are now beginning the process to sell the assets and materials. Overton has, over the years, had significant investment with over £50m spent over the last 10 years and £25m since 2018 alone.
Jul 26, 2022 · However, the company has now said that, due to rising costs and the ongoing effects of the pandemic, its business in Overton is ‘no longer viable’. In a statement, a Portals spokesperson said: “Following the global pandemic and other recent world events we have, however, seen a significant adverse impact on our banknote paper business.
The orderly wind down of Overton will then allow Portals to fully focus going forward on the remaining, successful parts of its business: our paper mill in Bathford, Somerset, which focusses on the supply of high security papers, and our security features business in Milan, Italy, are unaffected by this announcement.
Jul 27, 2022 · Author: Jonathan Richards Published 27th Jul 2022. A company that makes paper for bank notes is to close their paper mill near Basingstoke. Portals has produced paper for bank notes for more than 300 years and has operated its mill at Overton since 1922. Around 300 employees will lose their jobs.
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Aug 3, 2022 · UK banknote and security paper producer Portals to wind down its banknote paper business, which it acquired from De La Rue in 2018, saying business is no longer viable; Portals to close its banknote paper mill in Overton, England, over coming months. August 3, 2022 (press release) –
