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Nick Ferrari Reveals Some Key Facts On Dyson's Move To Singapore
23 January 2019, 08:11
Remainers are up-in-arms at Sir James Dyson moving his business to Singapore despite being a leading supporter of Brexit. But Nick Ferrari pointed out some key facts that show it in a new light.
Dyson's decision to move its headquarters to the Asian city state from Malmesbury, Wiltshire, comes after last October's announcement that the company - best known for its vacuum cleaners and other domestic appliances - will make its new electric cars in Singapore, rather than the UK.
However, Nick explained why all is not as it seems.
Looking at the Financial Times front page, he said: "Remember it's very much a Remain-supporting newspaper. The headline reads 'Outspoken Brexit-backer Dyson shifts company HQ to Singapore'.
"You have to read to paragraph 14 where they admit that only two employees will move to Singapore, the Chief Financial Officer and the Chief Legal Officer.
"And then paragraph 17, the finally remind us that Dyson ceased UK manufacturing in 2003.
"I'm not saying it is not of significance, but I don't think it's quite the damaging death knell that many people thought."
On the move to Singapore, the firm said in a statement: "An increasing majority of Dyson's customers and all of our manufacturing operations are now in Asia; this shift has been occurring for some time and will quicken as Dyson brings its electric vehicle to market.
"We are now at a point where Dyson's corporate head office will relocate there to reflect the increasing importance of Asia to Dyson's business."