Nexen bucks Brexit-effect with UK investment

LOWESTOFT, UK: May 2019. Nexen Lift Trucks, a designer, manufacturer and supplier of forklift trucks and warehouse equipment, is to invest £8.5 million in its UK headquarters and manufacturing facility.

The money will be used to double the output of all models via new production and assembly lines and expand its state-of-the-art research and development facility.

Nexen said the move “bucks the recent Brexit-related trend seen across numerous manufacturing sectors” and allows it to continue the research, design, development and production of many of the company’s forklifts, sideloaders and warehousing equipment in Lowestoft, rather than in other countries.

Sales director Pamela Oakes commented: “Thanks in part to a thriving e-commerce-based retail market with sales that represented nearly 20 percent of all retail sales in the UK alone in 2018, demand from logistics specialists and warehousing operators continues to show growth in both the UK and global markets.

“It is therefore vital that we continue to invest heavily in our UK facility to help us maintain current demand while increasing production to focus on growth for Nexen products, including the all-new, multi-directional Ergo sideloader,”  she added.