Bank note security printer De La Rue has been selected as the “preferred bidder” to produce polymer and paper bank notes for the Bank of England.

Officials of the company are expected to sign a 10-year contract in October and begin printing in April 2015, according to a Sept. 8 Bank of England news release.

De La Rue Plc has printed Bank of England notes since 2003.

The company produces more than 150 bank notes for nations around the world. It added the capacity to print polymer bank notes to its business in 2012. 

However, in March 2014, the Bank of England awarded Innovia Security a 10-year contract to supply polymer to the bank, to be used by De La Rue to print the notes.

The bank will release the polymer £5 notes beginning in late 2016 and the £10 notes a year later. 

It will continue to print £20 and £50 notes on paper.

A portrait of Sir Winston Churchill, prime minister of England during World War II, will appear on the back of the £5 polymer notes, to be issued in 2016. In 2017, a portrait of Jane Austen will be used on the back of the polymer £10 note.

Check out more recent CoinWorld.com paper money coverage:

• Monkey in India 'showers' a crowd with rupee notes taken from a nearby house
• Series 1929 $10 national bank note for Nevada bank sold for $38,187.50

Keep up with all CoinWorld.com news and insights:

• Sign up for our free eNewsletters
• Like us on Facebook
• Follow us on Twitter