Managing the planning for the potential impact of Brexit
COMPANY BREXIT STATEMENT
The “Company” known as Propco Construct Group Ltd, consisting of Kaydee Light Control Solutions Ltd, Sayfa Systems UK Ltd & RhinoDeck Ltd.
Following the outcome of the UK referendum on EU membership in 2016, the UK is likely to leave the European Union on 31st October 2019. Although there is still some uncertainty surrounding the outcome of “Brexit” negotiations between the UK government and the European Union, we expect the position to become clearer over the coming months.
The Company has established an Internal Management team with experts from all areas of our business to understand and plan for the risks and opportunities associated with Brexit. We are also taking external advice to ensure that our planning is in line with best business practices in the UK and internationally.
Many departments within the Company are likely to see changes; such areas include finance, sales, purchasing, compliance, design, human resources and information technology. We have considered the potential impact of changes to Customs borders, tariffs, lead-times, costs and administrative workload, as well as the likelihood of exchange rate volatility.
We will be proactively working with our customers and suppliers to understand the situation from their perspectives so that these can be included in our planning. We are also planning a range of measures such as additional stock holding of raw materials, sourcing locally, where possible and advanced production of finished products ahead of October 2019.
If you have any questions with respect to the impact of Brexit on your relationship or business with the Company, please make contact with us through your representative or primary contact at the Company who will ensure your concerns are addressed and included in our planning.