UK manufacturing continues to face fierce competition from emerging economies in Asia, primarily China and India, which are able to produce goods more cheaply. Nonetheless, despite the Brexit effect of weaker sterling and higher supply costs, the domestic sector made a positive start to 2018. `Albeit from a low base, UK manufacturing has shown surprising growth relative to other sectors by responding to new challenges, particularly exploiting its well-established strengths in electronics, chemicals, pharmaceuticals and aerospace.
Recalling the demise of Leyland DAF Ltd when David Buchler was appointed Joint Liquidator in 1996, the heavy blow of growing overseas production as it affected the workshops in the north of England has not been forgotten, particularly since more than 2,000 employees in that situation alone were made redundant as a consequence.
The invaluable experience gained by our manufacturing team at Buchler Phillips leaves us well placed to advise on either operational or financial restructuring needs in this sector.