Ceva + Wincanton – mind the vertical integration gap
Pressure on execution
Somewhat surprisingly, the UK has moved past China, France and the US to become Germany’s most important trading partner. British exports to Europe’s largest economy surged 20% in the first nine months of last year in comparison to 2011, a lot of it coming from the pharma, medical equipment, engineering and the automotive industries – as well as financial services. “Although rarely acclaimed, British suppliers and manufacturers are deeply integrated into the German industrial machine and enjoy the follow-through benefits of German exports to the rest of the world,” says The Daily Telegraph’s Ambrose Evans-Pritchard.