British machinery could flood Irish market
THERE could be an influx of used UK machinery into Ireland due to the drop in the value of the pound, writes Derek Casey.
The FTMTA boss Gary Ryan warned it was too early to say in the long run what impact the Brexit will have on sales but the weaker sterling would hit exports.
"The perception is there is a glut of machines in dealers' yards in the UK that they have been unable to export due to currency," he said, adding they did expect more second-hand machines to arrive from the UK.
However, for the machinery sector, Mr Ryan said that customs paperwork and inspection would all damage trade."The UK is an important market for Irish machinery manufacturers but less so than in the past," he said, adding more machines were now being exported into continental Europe, Australia and New Zealand.
However, the UK does represent a key market for exports for machinery manufacturers such as McHale, Keenans and Tanco.