11 Aug. 2022: In 2018 we successfully carved out Portals from De La Rue to secure the future of the business Since then we have worked hard to ensure that Portals is a sustainable business and have invested substantially to increase our efficiency and cost base and to grow our customer base.

Following the global pandemic and other recent world events we have however seen a significant adverse impact on our banknote paper business.

In trying to address this very difficult context, we have considered a range of strategic options. It is therefore with deep regret that we have announced today our proposal for an orderly wind down of operations at our paper mill in Overton, Hampshire.

Portals has a strong, proud heritage and it is our intention to wind down the Overton operations in an orderly fashion with as little disruption as possible - guaranteeing that all obligations to our customers, employees, suppliers and creditors are met.

Contrary to the position in Overton, we remain upbeat about the prospects for both our security paper business at Bathford, Somerset and those of our security features business in Milan, Italy, who are not facing the same challenges.

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.
It is important to note that both these businesses remain financially sound and are unaffected by the Overton announcement. Portals remains committed to maintaining and further developing our relationships and obligations with customers and suppliers for these businesses.

Laura Wheeler, Portals Chief Commercial Officer

John Wilkie Paper Mill Services Ltd has been appointed as the selling agent for Portals Papers Ltd, Overton, for the sale of all paper making and converting equipment on the Overton site. We are currently preparing with the mill a brochure detailing all equipment that will be available. The mill over recent years has invested in new equipment.

To view secondhand equipment available please click on our website www.johnwilkiepms.co.uk
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