Sunamp Brexit Statement - October 2019
Sunamp Brexit Statement – October 2019
The UK’s decision to leave the European Union means that we must meet the challenges that this decision will bring. In light of the uncertainty that Brexit brings, we are doing all we can to mitigate any potential risks which may arise. In order to ensure business continuity during this period, we have put into effect a number of strategies with the aim of making the transition away from EU membership as seamless as possible for both Sunamp Ltd and our valued business partners.
In recent months, we have continued to work with our customers and supply chain partners to prepare for Brexit day and beyond. We have been developing our contingency plan to ensure supply continuity in the event of a hard Brexit with its potential for logistical complexities. To ensure continued effective operation of our manufacturing site, we have a detailed plan for building an appropriate level of critical raw material stocks thus providing further assurance of continued supply to our customers.
We have considered the potential impact of changes to Customs borders, tariffs, costs and administrative workload, as well as the likelihood of exchange rate volatility. We have researched the implications of potential tariff and duty changes, as well as possible increased lead times. We have undertaken a review of our supply chain to mitigate the impact of any major changes following Brexit and accept that policies and processes may require amendment in due course.
Sunamp will continue closely monitoring all updates from HMRC (Her Majesty’s Revenue & Customs) regarding the possibility of a ‘No Deal’ Brexit and have undertaken additional Customs training to enable us to deal with the re-introduction of Customs declarations on goods moving between the UK and the EU. We are already familiar with such procedures both on import and export due to our trade with suppliers and customers outside the EU. By undertaking these actions Sunamp anticipates protecting customer service levels as we navigate through the first weeks and months of Brexit and we get a clearer picture of how things will operate.
We understand that individual concerns and priorities may differ depending on the nature of the business, albeit that most interest clearly lies in the impact of product availability, lead-time and cost implications. With this in mind we would encourage open dialogue and information exchange with Sunamp and we will be happy to note, investigate and act upon any specific query or information request.