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Rolls-Royce to proceed with Brexit contingency plans

Rolls-Royce to proceed with Brexit contingency plans

Mubasher: Rolls-Royce said it would proceed with its contingency plans as uncertainty mounted over whether UK Prime Minister Theresa May would be able to secure parliamentary support for her Brexit strategy.

“This agreement is only a draft [and] there are a lot of steps to go between here and when we are done and we can’t guarantee anything out of this but I do have to be able to guarantee that we can continue doing our business after the 29 March next year,” the UK aero-engine manufacturer’s CEO Warren East told BBC radio.

Rolls Royce would continue its contingency plans, including buffer stocks, to secure all the logistical capacity required for running operations, East said.

After the UK cabinet approved a draft divorce deal, Premier May would try to convince the rest of the parliament with her plan for the country’s departure from the European Union (EU).

May on Thursday vowed fight for her divorce deal after her Brexit Secretary Dominic Raab and other ministers resigned, putting her strategy and job in peril.