Ready for E-Day

The Blackburn-based firm, which makes specialist components for the clothing industry, has become the first Barclays Bank customer in East Lancashire to open a 'euro' account.

Although Britain is not joining up to economic and monetary union, many European countries will start using the euro when it comes into effect next year.

"We do a great deal of buying and selling in Europe and many of our customers and suppliers will expect payment in euros," said Jeff Scott, managing director of Colletex which employs 15 people at its Whitebirk Road base.

Many other East Lancashire firms are expected to open euro accounts before the new currency starts on January 1 1999.

"Early preparation for the euro will bring a competitive advantage to East Lancashire which will clearly have a knock on effect on jobs and business success," said Graham Dixon, head of corporate business for Barclays in East Lancashire.

Converted for the new archive on 14 July 2000. Some images and formatting may have been lost in the conversion.