Brexit Statement Update
As outlined in our initial announcement in November 2018, since the United Kingdom (UK) referendum result on membership of the European Union (EU) in June 2016, Powrmatic Limited has been working to assess and mitigate the likely impacts of ‘Brexit’ on its customers and suppliers under a variety of potential outcomes. Given the continued uncertainty around the overall shape of Brexit in March, we have focussed our efforts in the last few months on preparing for a “no deal” or “hard” Brexit.
Our fundamental objective is to ensure that we offer continuity of service and supply to our customers, wherever they are, and this update is provided to give further information to our customers and supply chain partners on how we plan to achieve this objective.
The majority of Powrmatic products are manufactured in the UK for UK customers. Where we do export products and import raw materials to and from mainland Europe and non-EU countries, it is via a well-established process and with robust supply chain systems. We have considered various Brexit scenarios and have implemented alternative supply options where possible and introduced contingency stocking measures to ensure that we will be prepared.
We do not expect that importing materials to the UK in a post-Brexit scenario would be significantly more challenging than what is required today. However, we plan to mitigate any potential delays in customs clearance when importing materials from European countries after Brexit by working closely with our partners to ensure sufficient stocks are available in the supply chain.
Powrmatic has every confidence in the expertise of our team and their understanding of import and export procedures to be able to cope with and adapt swiftly to any changes necessitated by Brexit. Furthermore, we widely employ the services of forwarders and agents who have international status. Together we will be able to adapt and respond to likely added complexities from Brexit in the event of tariffs being introduced on trade between the UK and EU.
We wish to reassure our partners of our ongoing commitment to continued trade within the United Kingdom, the European Community and other export markets.