Philips Is Considering Leaving From The United Kingdom
Philips is Considering Leaving from the United Kingdom at Hard Brexit. Philips may be relocating its production from the United Kingdom if it comes to a so-called hard Brexit. CEO Frans van Houten of the medical technology company said that.
Van Houten states such a strong Brexit, in which the European Union and the British do not make good agreements about access to each other’s markets a ‘serious threat to the competitiveness of our British sites’.
Philips, which has some 1,500 employees in the United Kingdom, is not the first company that calls for precision about the upcoming Brexit and warns about the outcomes of a fight separation.
Jaguar Land Rover, Airbus and BMW already preceded Philips.
For the Dutch electronics group, the hard Brexit is one of the options that are taken into account.” We have to make plans for the worst scenario, ‘says Van Houten.
Philips has, among other things, a factory where baby care products are made in England.
If the United Kingdom is no longer part of a customs union with the European Union, then the export costs of those products will increase significantly.
Since the British opted for a Brexit in a referendum, Philips is already struggling with the free pound.
Even if Philips no longer manufactures products in Great Britain, the company will remain active on the British market.
According to Van Houten, Philips remains “devoted to our current and potential customers” in the country.