A Japanese manufacturing company has closed its High Wycombe factory citing Brexit related disruption.
The factory, which employed 22 people and had revenues of 23 million euros ($25 million), was operated by the Senju Metal Industry Co. from Japan.
The High Wycombe manufacturing plant officially closed on Sunday 30th June 2019 and was located in Coronation Road on the Cressex Business Park.
The company, which makes soldering products for the electronics and automotive industries, has said in company documents that it ‘anticipated that reduced demand for products manufactured in the U.K. would result in operating losses‘ and as a result has relocated operations to the Czech Republic.
Judith Bunting, MEP for South East of England, said: ‘This is devastating news for the 22 former employees and the high-tech industry in Wycombe, especially as it was entirely avoidable. Senju is just the latest in a long line of companies ceasing operation in the UK because of Brexit uncertainty.
Far from job losses, we were promised a Brexit that would revitalise the national economy and create new jobs. Despite this, it is becoming increasingly clear that the future holds nothing but uncertainty, instability and fewer employment opportunities. This is why we need a People’s Vote. Now the dangers and disadvantages of Brexit are becoming clear, it’s only fair that the people are given the chance to reconsider their vote.‘