As a result of the recent economic crisis, this sector should be constantly reviewing their business models and how its assets are employed to remain competitive in the marketplace.
Notwithstanding the post-war international domination of the UK manufacturing sector, it has more recently had a very rough ride. Major competition has come from emerging economies in Asia, such as China and India, who are able to produce goods more cheaply. However, this sector made a positive start to 2014. Uk manufacturing showed the highest growth figures compared to other sectors by responding to new challenges, particularly exploiting its well-established strengths in electronics, chemicals, pharmaceuticals and aerospace. Long may this continue.
As a result of the recent economic crisis, the sector needs to constantly review their business models and how their assets are employed to remain competitive in the marketplace.
Recalling the demise of Leyland DAF Ltd when David Buchler was appointed Joint Liquidator in 1996, the shockwaves that affected the workshops in the North of England has not been forgotten, particularly with well over 2,000 employees being 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.