Madrid 29/09/2016 - There will be no big changes to the UK aluminium extrusions market in the wake of the country's vote to exit the European Union, John Thuestad of Sapa said at the Metal Bulletin Aluminium conference.
Global markets were briefly thrown into turmoil when the UK surprisingly voted at the end of June to leave the EU.
"In general we don't see any negatives in the short to medium term," Thuestad, who is business area president of the extrusions profile manufacturer's European metal group, said here on Thursday.
The UK has a substantial aluminium extrusions sector, producing products for the automotive and construction industries. Sapa owns and operates three extrusion plants in the UK, in County Durham, Derbyshire and Gloucestershire, employing roughly 650 people.
"We see some currency fluctuations [in the wake of the Brexit vote] but it's an extremely competitive industry and we see that from the automotive side, we see that from other places. The workforce is extremely agile and in general the market has been relatively supportive," he said.
"The question will be after the exit and negotiation of a new deal: what will be the UK's position in the landscape? That’s difficult [to answer]," he added.
(Editing by Mark Shaw)