Submitted on Monday 30th November 2015
Published on Wednesday 2nd December 2015
Current status: Closed
Closed: Thursday 2nd June 2016
Signatures: 2,822
Tagged with
To change the decision of the ECO having rejected an export licence.
North East subsea engineering company SMD are unable to accept their biggest order to date due to the rejection of an export license by the Export Control Organisation. The company has now announced 70 to 80 redundancies which could significantly impact companies within SMD's supply chain.
Despite successfully diversifying the business, SMD are suffering extremely challenging market conditions partially due to the decline in demand from the oil & gas industry. Granting of this export license would give SMD the opportunity to counteract those market conditions, in turn potentially saving jobs for one third of its workforce.
This license could also considerably benefit SMD’s supply chain which consists of over 700 companies across the UK, 200 of which are local to the North East.
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