In Brief: De La Rue expands in US

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The Independent Online
De La Rue expands in US

A US subsidiary of the De La Rue printing and packaging group is to buy McCorquodale Security Cards from LHC Corporation for an initial payment of $22.3m. A further payment of up to pounds 5m depends on profits for the 13 months to March 1996. McCorquodale makes payment cards for customers in North America. Operating profits were $1.5m for the year to February 1995. De La Rue said the acquisition would further strengthen its position as a supplier of transaction systems to the North American market.