Statement: Brexit

Statement: Brexit

FEB 06, 2019

Control Techniques is a UK-based manufacturer with significant exports to the EU. Therefore, as a business, our company could be strongly impacted by Brexit, the United Kingdom’s impending withdrawal from the European Union. As we get closer to the withdrawal date of 29 March 2019 there remains little clarity around the type of Brexit that UK businesses will experience.

At Control Techniques, we take continuity of supply to our customers very seriously and have been planning for Brexit since the referendum in 2016, identifying and preparing for all eventualities. There are three ways we are working to lower your Brexit risk related to supply:

1. Supply Chain Planning: We believe the key to successfully managing the various possible Brexit scenarios is around robust supply chain planning. While many of the parts we import are sourced from outside of the EU, we have identified the higher risk EU-sourced items and are proactively increasing inventories to buffer us from any delays that could be caused by changes to customs procedures. We are also increasingly moving to UK-based suppliers where possible.

2. Ring Fenced Local Inventory: As an additional layer to protect customers, we are putting in place significant new inventories of finished goods ahead of 29 March in our local Drive Centres across Europe. This provides an additional buffer between you and any supply chain interruptions that may occur.

3. Alternative Logistics Routes: Depending on the type of Brexit, whether the UK ultimately leaves the EU without a prior trade agreement in place, congestion can be expected at the ports, particularly at the port of Dover. We are working with our carriers to trial alternative routes into the EU ahead of 29 March, and we are also encouraging our own EU-based suppliers to trial alternative routes into the UK.

We believe that these prudent measures will significantly reduce your risk related to continuity of supply of Control Techniques’ drive products.

Please contact your local representative if you have any concerns or would like to discuss any element of our planning.

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