ILMA Compoundings - November/December 2020 - 26
Navigating Brexit
Lubricant manufacturers must prepare for any scenario after Brexit - deal or no deal
By M. Diane McCormick
T
he intricate economic ecosystem that is the European Union (EU) has developed a rift as wide as
the English Channel. The full impact of Brexit
isn't known yet, but lubricant companies are preparing
for disruption.
The future of trade, partnerships and regulatory matters
remains murky. As the U.K. and EU prepare to finalize
their divorce, lubricants players navigating uncertain seas
can prepare for change by driving their differentiators to
the forefront.
" Lubricants companies should already be acquiring the
mindset to be value adders as an industry - and as companies themselves, " said Annie Jarquin, director of business
development at Kline.
26
NOVEMBER/DECEMBER 2020
| COMPOUNDINGS | ILMA.ORG
The Brexit Saga
On June 23, 2016, U.K. citizens voted to leave the EU. Several tumultuous years later, the U.K. left the EU on Jan. 30,
2020. The departure launched negotiations meant to reach
a deal by Dec. 31. Prospects of a " no-deal Brexit " loomed
larger in early September, when U.K. Prime Minister Boris
Johnson said that if no deal is in place by Oct. 15, both
sides should " accept that and move on. "
In the interim year of 2020, commerce operates under
existing rules and regulations. Any discussion of Brexit must
begin with COVID-19, said Jarquin. In early 2020, hopes
were high for a Brexit deal, but in March, businesses were
forced to " fight fires on a daily basis. " Many companies didn't
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ILMA Compoundings - November/December 2020
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