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For businesses, Brexit is happening already

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AP London
Last Updated : Oct 25 2019 | 4:31 PM IST

Mylands paint, founded 135 years ago, has survived two World Wars, the Great Depression and the end of the British Empire by adapting its products and practices.

So when it was faced with the economic upheaval threatened by Britain's departure from the European Union, CEO Dominic Myland wasn't going to wait for politicians to resolve the impasse that has kept the nation hanging for three years.

The company, which made the blackout paint that obscured London bridges during World War II and supplies film and TV productions such as "Harry Potter" and "Game of Thrones," has increased stocks of raw materials and moved extra product to a distributor in Germany in case of border checks.

If delivery delays become the norm, it may have to set up a whole new company on the continent, Myland said.

"We are very close to opening a depot close to the center of mainland Europe (from) which we can supply a lot of our European customers," Myland said.

"That's more of a strategic long-term plan for us anyway, but we may accelerate that process because of the fallout from Brexit if it gets very tricky to export goods."
"Until a deal is agreed, companies will continue to divert billions of pounds from productive investment to no-deal preparations, and international investors will continue to question if the UK is a stable, open place to do business."
"This is only going to get worse until a deal with a sensible transition period is agreed."

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First Published: Oct 25 2019 | 4:31 PM IST

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