The Directors of Titon Hardware Limited regularly review the Company’s position regarding the UK’s decision to leave the EU.
Whilst there can be no guarantee that such an agreement will be reached, we naturally hope that the UK’s relationship with the EU27 from 1 January 2021 will be defined by a Free Trade Agreement (FTA) that includes zero tariffs and minimum trade friction on industrial products.
We have been closely following the state of negotiations between the EU and the UK and are aware of the level of uncertainty prevailing. In case negotiations do fail and there is disruption at the border, we have taken steps to purchase additional stocks of any components sourced from within the EU in advance of 31 December 2020.
We have also spent time ensuring that our internal systems and our logistical arrangements, in respect of both the importation of components and the exporting of finished products, are ready to deal with the changes that Brexit will bring after 1 January 2021.
We remain committed to trading with our partners in the EU and value highly the relationships that we have. Please do not hesitate to get in touch with your normal Titon contact if you have any questions or concerns.
Titon Hardware Limited