As a business, Ancon acknowledges that ensuring security of supply is vital to ourselves and our customers.
The majority of our raw materials are sourced outside the UK, with 80% sourced from within the EU. Our purchasing teams have been working closely with all our key suppliers to formulate contingency plans across our entire product range and have increased our stock levels for key raw materials and components to two months minimum. Most of these raw materials come through well-established supply routes other than the port of Dover.
The exact terms of Brexit are as yet unknown and we will continue to monitor the situation and react appropriately to minimise disruption. Ancon have complied with all government advice in regards to business readiness for Brexit e.g. Ancon will utilise, through our experienced transport agents, our approved Transitional Simplified Procedure (TSP) issued by HMRC which will allow the flow of our goods through the UK ports. We also have our EORI and Duty deferment account in place.
As part of CRH, a global FTSE 100 company, Ancon has no major cash flow constraints, so we are able to increase stock levels as required with no threats to our financial stability. Further, we use CRH treasury management resources to implement currency hedging strategies to ensure our exposure to exchange rate fluctuations is minimised.
The majority of our raw materials are ‘generic’, meaning they are standard specifications and thereby not limited to a small number of key suppliers or specific manufacturing patterns. These same materials are used to manufacture a wide variety of products, which gives us additional production flexibility.
In terms of accreditations, we have arranged for the 'certificate of conformity' for all our CE-marked goods to be transferred to an EU-27 'notified body' in preparation for a no-deal Brexit.
We also have within our supply chain the capability to source raw materials and products globally, both from external suppliers and through our links to CRH sister companies; adding flexibility in case of any disruption.
To provide further confidence, we have been in direct contact with our key suppliers to ensure they have contingency plans in place within their own supply chains and logistics functions. Many of our suppliers hold additional buffer stocks within the UK as part of their normal supply chains.
As a global company, we are very experienced in ensuring supply chain security to effectively manage the flow of raw materials and products worldwide. As one of the UK’s largest end users of stainless steel, Ancon has a very strong relationship with all the key mills further guaranteeing our supply chain.
Signed for and on behalf of Ancon Ltd by Peter McDermott, Managing Director
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