Last Updated 15 | 02 | 2013 at 13:59

News

GWU to discuss De La Rue

Article By:
Kevin Schembri Orland
kevin.s.orland@di-ve.com

The General Workers Union has called a meeting with its members tomorrow morning, in order to inform them about the current situation regarding De La Rue.

When asked by di-ve.com about the situation, GWU Secretary for Technology, Electronics and Communications Andrew Mizzi said that the company has had a number of financial problems, adding that the company has said that if the Maltese plant is to stay active, then costs would need to be cut. Mr Mizzi explained that the new Chief Executive of De La Rue Tim Cobbold had pledged to earn €100 million in profit by the end of the year, and as such needed to cut costs around the world. In order to achieve this goal, the company has undergone a global restructure which has seen two UK plants and one plant in Singapore shut down.

The GWU Secretary added that De La Rue does not believe it needs the Malta plant to meet its production requirement. The Malta plant currently employs 600 employees.

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