Bearings firm nearly doubles stockpile capacity over customers’ Brexit fears
30 Apr 2019
A leading UK bearing manufacturer and European exporter admits it has nearly doubled its storage capacity in order to stockpile reserves in case of product shotages resulting from Brexit.
Oxfordshire–based SMB Bearings exports 40% of the bearings it produces to countries within the European Union.
Several months ago it began work to expand the capacity of its warehouse from the previous 1.5 million to 2.6 million bearings.
Managing director Chris Johnson acknowledged that a ‘mass Armageddon’ was unlikely after the UK’s formal withdrawl from the EU. However, customers on the continent would be keen to build up their own reserves and have secure supply lines.
“As European customers worry about a mass shortage after Brexit, our extensive stock will act as a buffer, to ensure they can still have access to bearings in their supply chain, he stated,”he said.
He added the company was used to used to riding the cycles of bearing sales booms and busts.
“We’ve seen a similar spike in demand for thin section precision bearings, with the increase in robotics manufacturing.”
The firm is currently seeking Authorised Economic Operator for Customs (AEOC) status, in order to ensure efficient imports and exports and demonstrate secure and compliant processes for delivery and shipping.