Warning on threat from foreign competition

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Manufacturers are being warned against complacency by the boss of a Chesterfield firm that secured a record £4 million-worth of new business enquiries last year.

TMAT makes acoustic insulation systems for tractors and excavators and includes Case, New Holland and JCB among its customers.

Managing director Jason Lippitt said: “It seems odd for us to be guarding against excessive optimism now when a year ago we were one of the few companies expressing positivity when everyone else seemed to be so glum, but UK manufacturers really must be cautious.

“Foreign competition is an ever-present threat to UK businesses and will become more so if the pound strengthens against the Euro.

“There is also the issue of the continuing instability of the European market, which will become even shakier should – as is predicted – Greece be forced to leave the Eurozone.”