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Philips CEO says Brexit putting Britain at risk as manufacturing hub

October 22, 2018 7:28 AM
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AMSTERDAM (Reuters) - The chief executive of Philips (PHG.AS) said on Monday he was worried about the lack of progress on a deal over the terms of Britain’s exit from the European Union, and warned that a no-deal Brexit would jeopardize the country’s position as a manufacturing hub.

“As time passes and there is no solution I get increasingly worried that hereafter frictionless trade between the United Kingdom and European mainland could be at risk,” Frans van Houten told reporters after the company posted worse-than-expected third-quarter earnings.

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