The outcome of the EU membership referendum on 23rd June 2016 meant that the UK will leave the European Union, or ‘Brexit’ as it has become known. At Festo, we believe we must embrace the challenges that this decision will bring. Inevitably there is still uncertainty as the Brexit negotiations take place, whatever the outcome may be, our customers can be assured of our best endeavours to mitigate risks to their supply chain.
We pride ourselves in delivering excellent customer service and that ethos will continue irrespective of the Brexit outcome. In order to achieve this, we have strategies in place which will ensure the strongest possible outcome and maintain stability for our company as well as our customers as the transition away from EU membership takes place. We have undertaken a review of our supply chain to minimise the impact of any major changes following Brexit including reviews of our stocking policies and import procedures.
Festo is a global organisation and the UK will continue to be an important market for us. We remain optimistic about the negotiations outcome whilst ensuring we are well-prepared with plans in place to respond to any changes with agility. At this stage it is impossible to predict the final outcome, as a company well versed with the demands of international trade, we have every confidence in the skills and expertise of our people, both locally and at our headquarters in Germany, to adapt to any changes necessitated following Brexit in a way that minimises disruptions for our customers.