Wednesday, October 16, 2019
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Chemical Business Worth Billions Likely To Suffer Owing To No Deal Brexit

Chemical Business Worth Billions Likely To Suffer Owing To No Deal Brexit

In a recent press conference, Stephen Elliott stated that in case of no-Brexit deal will provide a direct threat to the import of the chemicals. Mr. Elliott further said that due to no deal the European Union would not purchase the chemicals from outside its territory. According to some analysts, due to no-deal, the import of a large number of chemicals transporting between EU and UK would come to a staggering halt.

The government of the UK is also preparing itself and is working in accordance with the stakeholders if in case no deal happens. UK imports chemicals worth 33 billion pounds from EU and of 27 billion pounds from around the globe. While addressing a press conference Allie Renison said that politicians have no clue about the problems which a no-deal could cause. She further said that’s the main reason why businesses would have to face the consequences in the upcoming future.

While speaking to the reporters, the Managing Director of Robinson Brother’s showed his concern if in case Brexit deal doesn’t take place. Mr. Hanrahan said that he can’t estimate the amount of capital needed to invest in the business if in case the deal doesn’t take place. Robinson Brother’s has already stockpiled a large quantity of odorant which provides distinctive smell to the gas. The company used to stockpile the odorant for six weeks but during the present state, it has kept the stock that would last for at least four months.

Mr. Hanrahan said that without the deal no one would be able to distribute the gas. The managing director of Robinson Brother’s further said that due to the present situation the company is in a state of dilemma as they have to fulfill their obligations but won’t be able to do so. Due to the no-Brexit dealing, the chemical industry of the UK will be affected in the worst way possible.

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