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Euro Energy Preparation for a No Deal Brexit

Posted on 12th February 2019

Euro Energy Preparation for a No Deal Brexit

As March 29th gets ever closer, it's important that our Customers understand our preparations for a No Deal Brexit and how this has led to the creation of the statement below. In creating this statement, we have drawn upon our 35 years of experience and we think it's important to reassure our Customers with our commitment to 'business as usual'.

Euro Energy are aware of the threats posed by a No Deal Brexit and recognise, like most businesses, that whatever the outcome, we must learn to work with it.

We are committed to servicing all current markets, regardless of the consequential challenges, and have many years of experience of trading within the EU and the rest of the World, regularly trading with Countries where tariffs are already in place.

Our EORI number is GB355306562000 for global trade, and we hold bank accounts in 3 currencies;

  • GBP
  • USD
  • EUR

We have identified 3 potential risks of Brexit, being;

  • Currency fluctuations
  • Increased/imposed Trade tariffs
  • Delays at UK borders of imports from EU

We have no control over the first two items and anticipate the possibility that our Suppliers would pass on any Price Increases to us, we would then review our Product prices, absorb what we can and then pass on price increases to our Customers only where absolutely necessary.

We already have a significant stock holding for the majority of our products. In the event of a No Deal Brexit we plan to carry out a review of all stock and increase where required. Euro Energy are a sufficiently strong Company financially to bear this burden.

Should import delays start to impact on our delivery times, we would seek to further increase our stock holding to minimise the impact to our Customers.

We remain watchful of the progress made on the Brexit deal and will constantly review our actions as the situation clarifies.

We would welcome any thoughts or comments on the above and if any our Customers have further questions or concerns that they would like to raise, please direct these to info@euroenergy.co.uk.

Registered Name: Euro Energy Resources Limited
Registered Office: 10 Barrington Business Park, Leycroft Road, Leicester, LE4 1ET, UK
Global Location Number: 5060554170005 | Registered Number: 01576945 | VAT Number GB355306562