-
- News
- Books
Featured Books
- pcb007 Magazine
Latest Issues
Current IssueThe Growing Industry
In this issue of PCB007 Magazine, we talk with leading economic experts, advocacy specialists in Washington, D.C., and PCB company leadership to get a well-rounded picture of what’s happening in the industry today. Don’t miss it.
The Sustainability Issue
Sustainability is one of the most widely used terms in business today, especially for electronics and manufacturing but what does it mean to you? We explore the environmental, business, and economic impacts.
The Fabricator’s Guide to IPC APEX EXPO
This issue previews many of the important events taking place at this year's show and highlights some changes and opportunities. So, buckle up. We are counting down to IPC APEX EXPO 2024.
- Articles
Article Highlights
- Columns
Search Console
- Links
- Events
||| MENU - pcb007 Magazine
Brexit Postponed Amid Political Gridlock; Industry Disruptions in Store
April 3, 2019 | Chris Mitchell, IPC VP, Global Government RelationsEstimated reading time: 4 minutes
Saddled with these uncertainties, companies with operations in the UK and EU are hedging against the various outcomes. IHS Markit’s Rob Dobson expects that “the impact of Brexit preparations, and any missed opportunities and investments during this sustained period of uncertainty, will reverberate through the manufacturing sector for some time to come.” In the near term, the uncertainty has led to advance purchasing and stockpiling of inventory, leading to surges in manufacturing production. But many companies are shifting their supply chains away from the UK, sourcing goods and materials from other EU countries or from outside the region altogether. Airbus, Nissan, Ford, Siemens and Sony are just a few of the companies that are considering or actively shifting operations out of the UK as a response to Brexit.
6. The electronics industry may be disproportionately impacted.
According to an Oxford Economics study commissioned by IPC, the EU28 electronics industry employs more than 2.4 million workers, with about 8 percent or 196,000 of them in the UK. Without an orderly Brexit, the UK could slide into recession in 2019, and the country’s share of the EU’s electronics workforce could drop even further. It’s impossible to predict with precision, but the electronics industry has a highly globalized and complex supply chain. New trade barriers and uncertainties will constrain the ability of British electronics companies to leverage the European electronics marketplace and labour force.
7. Brexit has already harmed economic growth in the UK.
A column in the Financial Times says the UK economy has already shrunk by 1.5 percent since the Bank of England’s 2016 forecast, even as the world economy has grown. Goldman Sachs predicts that a no-deal Brexit could whack UK GDP by another 5.5% and depreciate the pound sterling by 17 percent. The New York Times reports the UK has forfeited its role as an economically and politically stable country from which companies can base their European operations.
With so much at stake for the electronics industry, IPC will continue to stay abreast of developments and keep you informed.
Page 2 of 2Suggested Items
Siemens, Foxconn Team Up to Optimize Forward-thinking Manufacturing
05/16/2024 | FoxconnSiemens AG, a leading technology company, and Hon Hai Technology Group (Foxconn), the world’s largest electronics manufacturer, have signed a memorandum of understanding (MoU) to drive digital transformation and sustainability in smart manufacturing platforms.
IPC Releases May 2024 Global Sentiment of the Electronics Supply Chain Report
05/16/2024 | IPCSentiment among electronics manufacturers fell this month, after hitting a new high in April. Despite the decline, sentiment remains historically high according to IPC’s May Sentiment of the Global Electronics Manufacturing Supply Chain Report.
Sypris Reports Q1 2024 Results; Revenue Up 10%
05/15/2024 | Sypris Solutions Inc.The Company’s first quarter 2024 consolidated revenue increased 10.1% to $35.6 million compared with the prior-year quarter, representing the 11th quarter of double-digit year-over-year growth during the past 12 quarterly periods.
SMTC Strengthens Leadership for Future Growth: Ed Smith Promoted to Executive Chairman; Mike Buseman Joins as CEO
05/15/2024 | BUSINESS WIRESMTC Corporation, a leading North American provider of electronics manufacturing services, is pleased to announce the appointment of Mike Buseman as President & Chief Executive Officer, effective May 13, 2024.
Kimball Electronics Thailand Helps Save Lives by Hosting a Blood Drive
05/14/2024 | Kimball ElectronicsKimball Electronics Thailand employees took part in a blood donation event. The blood drive took place in the Rajapruek Building at Laem Chabang Industrial Estate Office.