TFC Brexit Statement

Brexit Statement – August 2019

Morgan Burgoyne TFC CEO - “TFC's aim is to provide stability & confidence in an uncertain time”.

TFC has been pro-actively working on our Brexit strategy.  This included the creation of a cross-functional team tasked with forming a robust set of strategies to cover the many potential final outcomes.  Collation and dissemination of available data/information has been at the forefront of this process to help identify areas of risk for TFC & our loyal customer base both in the short & long-term. 

There continues to be a heightened risk that the UK will fail to agree on a suitable position that is supportable for all parties. We now face the very real prospect of leaving the EU on October 31st 2019 without a ‘deal’. The impact of this will be wide-ranging, FX rates, potential tariff changes etc.  which are all outside of our control to a certain extent.  However, like other committed companies within the extended supply chain, TFC have identified the key area of supply continuity in the face of cross-border customs delays.

To mitigate this risk TFC embarked on a contingency stocking process to ensure the stability of supply earlier this year onwards.   A comprehensive review of our cross-border purchases has been completed and order commitments placed or alternative domestic sources identified for those core products that are deemed to be at risk.  We have also pro-actively been working with key customers to ensure sufficient stocks of ‘specials’ are in place –  (+85% uptake of our suggested underwritten stock commitments – C-class may only be a small proportion of end product value, but if unavailable can still lead to expensive production downtime).

TFC are committed to all current & new customers alike.  Through our network of logistic sites (7 UK, 2 Germany, 1 Czech Republic) we have storage capacity and supply chain solutions to continue to pro-actively support our customers and to cover any eventuality.

Only working together can we be in a position to provide stability in uncertain times. Should you have concerns and wish to discuss what options we have to suit your business please contact your local TFC Team:

TFC Ltd - Head Office (Heathfield)  Sally Crouch  +44 (0) 1435 866011
TFC Colchester  Nina Burton  +44 (0) 1206 210082
TFC Keighley  Daniel Whelan  +44 (0) 1535 665414
TFC Walsall  Martin Broom  +44 (0) 1922 749940
TFC Airdrie  George Lawrie  +44 (0) 1236 751815
TFC Basingstoke  Debbie Cato  +44 (0) 1256 224200