Preparations for a ‘No Deal’ Brexit scenario on 29th March 2019

SHD Composite Materials Ltd.’s preparations for a ‘No Deal’ Brexit scenario on 29th March 2019

The Government has made significant progress in negotiations with the EU, and remains confident that the UK will leave the EU with a good deal for both parties. However, concerns prevail that the Government will fail to secure enough support from Parliament and in this event a ‘No Deal’ Brexit will be enacted.

SHD have stepped up its planning for a ‘No Deal’ Brexit in the short-term in the following ways;

  • Raw material stock-holdings at our manufacturing facilities in both the UK and Slovenia have been increased to ensure continuity of supply.
  • We are working closely with our supply chain to ensure increased raw material stocks at our UK warehouses, including woven and UD carbon fibre, resins and consumables.
  • Our dispatch and back-office admin support has been expanded to cope with additional paperwork and bureaucracy.
  • Both local and international haulage services used by SHD have been contacted to understand how a ‘No Deal’ Brexit will affect them, and in turn SHD, discussions are on-going.
  • We have also registered for HMRC’s EU update service which will send relevant information and updates through as appropriate.

‘No Deal’ Brexit means that the UK will fall back to World Trade Organisation trade tariffs, without a transition period, and the true impact of this will be unknown until this has come into force. However, please understand we are doing whatever we can to mitigate any negative impact of a ‘No Deal’ Brexit on our customers.

We will keep all customers updated if any changes to current trading terms are impacted upon by a ‘No Deal’ Brexit, including and not limited to, increases in costs due to tariffs or additional logistics costs and any delays to deliveries should these arise.

Our best regards,

Steve and Helen Doughty

SHD Composite Materials Ltd.

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