f2wohf
Honorary Master
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Would love for our friends to provide us with a link pointing towards one single foreign company seeing the Brexit as an opportunity to expand its UK operations?
http://fortune.com/2018/07/07/philips-move-production-uk/
Dutch health-technology company Royal Philips NV may move manufacturing out of the U.K. in the event of a hard Brexit, as its chief executive officer warned that such an outcome would be a “serious threat” to the viability of its operations in the country.
“I am deeply concerned about the competitiveness of our operations in the U.K., especially our manufacturing operations,” Frans van Houten said in emailed comments to Bloomberg.
His company became the latest in a lengthening list of big businesses, including Jaguar Land Rover, Airbus and BMW to warn about the potentially serious consequences of a messy divorce. Van Houten said that additional costs for exports from its babycare products factory in the U.K., under any scenario that does not maintain the single customs union, would amount to the high single-digits as a percentage of sales. The plant is in Glemsford, Suffolk.
“This is a serious threat to the competitiveness of this factory and we need to do worst-case scenario planning,” Van Houten said. Philips currently employs 1,500 people in the U.K.
http://fortune.com/2018/07/07/philips-move-production-uk/
