The German VDMA association's plastics and rubber machinery division, has "noted with regret" the United Kingdom decision to leave the European Union.
The association has stated that Brexit will have an impact on investment decisions and hoped that the period of uncertainty will be as short as possible.
It also urged the U.K. to remain as part of Euromap, the umbrella organization of the European plastics and rubber machinery industry which accounts for some 40 percent of worldwide production and 50 percent of export volumes.
Member associations are located in Austria, France, Germany, Italy, Luxembourg, Spain, Switzerland, Turkey and the United Kingdom.
“Great Britain is an important market for us,” said Ulrich Reifenhäuser, chairman of the VDMA Plastics and Rubber Machinery Association.
“In 2015, as in the previous year, the United Kingdom was ranked seventh among the most important countries buying German plant and machinery."
At 152 million euros ($169 million), exports to the U.K. were 6.6 percent higher compared with 2014. The first quarter of 2016 saw another sharp increase in deliveries to the island, up 25.9 percent, putting the U.K. fifth among the most important customer countries in that period.
“The industry has traditionally had close ties with the British plastics and rubber industry,” added Thorsten Kühmann, the association's managing director.
“Many of our members have branches in the U.K. These close ties between our U.K. partners and the continent will not change.”