Posted: Thu 19th May 2016

Brexit would hit UK growth and impede foreign investment says Airbus chief Tom Enders

News and Info from Deeside, Flintshire, North Wales
This article is old - Published: Thursday, May 19th, 2016

Airbus Chief Executive Tom Enders has signed a letter along with other heads of leading multinational companies for Britain to stay in the EU. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

“We are some of the thousands of companies that have chosen to invest in Britain. Our investments range from advanced manufacturing facilities to digital infrastructure, creating hundreds of thousands of jobs.” they letter says. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

It was also signed by Jeff Immelt, chief executive of GE; Chuck Robbins, the chief executive of Cisco; Hiroaki Nakanishi, chairman of Hitachi; Grant Reid, president of Mars, among others. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

“If there is one thing we as investors do not like, it is economic uncertainty,” they said, adding that the uncertainty that would follow a vote to leave “could materially affect major international businesses’ future investment decisions”. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

“No existing alternative outside can match EU membership in terms of access to the single market and a say over the rules governing trade and investment in that market,” wrote the 15 business leaders in a letter to the Financial Times. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

The letter was co-ordinated by Downing Street says the FT, where the chief executives and chairmen will be taking part in an investors’ forum roundtable with prime minister David Cameron on today, Thursday 19 May. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

Deeside’s largest employer ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

Airbus sent a letter to its UK workforce in April warning on the consequences of Britain exiting the EU.The letter says the FT, was co-ordinated by Downing Street, where the chief executives and chairmen will be taking part in an investors’ forum roundtable with prime minister David Cameron on Today Thursday may 19. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

The letter signed by the companies UK senior management team tells staff that a vote to leave the EU ‘could’ stifle future investment in the UK. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

Airbus has been pretty clear for months on its position in terms of the EU and it’s UK factories, they will continue to operate as normal if the referendum vote goes in favour of an EU withdrawal. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

The seven senior executives who signed the letter say risks of barriers being put up between its UK operations and those in France, have led it to oppose so-called ‘Brexit’ ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​

With $1 trillion worth of commercial jets on the order books Airbus is arguably one of Europe’s great success stories however, Tom Williams, the company’s chief operating officer and Paul Kahn, the president of Airbus Group UK say the company’s business model is entirely based on their ability to move products, people and ideas around Europe without any restriction and feel competitiveness of the British-based operations will decrease. ‌​‌‌‌​‌‌‍‌​‌‌‌​‌​‍‌​‌‌‌​‌​


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