How could Brexit affect EU manufacturing?

By Nell Walker
Following the recent news of reichelt elektronik enjoying explosive growthand expanding its catalogue, CEO Ulf Timmermann has offered the following stat...

Following the recent news of reichelt elektronik enjoying explosive growth and expanding its catalogue, CEO Ulf Timmermann has offered the following statement regarding how the EU referendum could affect the established German business and the rest of Europe:

“The topic of Brexit is causing a deep furrow of anxiety with many European merchant businesses; what effects will a vote to ‘Leave’ have on legislation, tax and customs regulations etc? What complications will it cause for us all? Will business between companies in the rest of the EU and UK customers be seriously harmed?                                                                                                                                                

"Personally, I am pretty relaxed about the referendum: we love the business we've established with our customers in UK and we're keen to see it grow further. Our physical and online logistics are all developed in-house and managed from Germany so we are confident that we won’t need to change our policies and procedures. But we’re the lucky ones, not everyone is in that fortunate position.

"We're ready and happy to respect the outcome of the referendum, whatever it might be, and to make any adjustments necessary for continuing our UK business. We wouldn’t even consider ceasing our trade in the UK.

"Finance is one of the most common Brexit concerns; from our point of view, we intend to keep our pricing as competitive as before. Ordering at reichelt in Germany will still be the right decision for business pros in electronics, as for tinkerers and makers – we'll hold our doors wide open for business and consumer customers, whether they are in the EU or not.”


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