Home appliances major Dyson has announced that its headquarters from Malmesbury, Wiltshire will now be moved to Singapore that will lead to relocation of its senior executives namely CFO Jorn Jensen and chief legal officer Martin Bowen. But other members of the head-office will not be asked to move and there will be no retrenchments. CEO Jim Rowan of Dyson said that the move was not due to Brexit but rather to make the organization future proof and take advantage of opportunities in Asia. As the firm already has a revenue stream in the region they want to concentrate their efforts in this area too and keep a hold on investments.
He insisted that to grow as a global technology company it needs to have footprints at all vital locations. Last October the firm announced that it will build its new electric car manufacturing unit in Singapore and though its products are designed in UK they are manufactured in Asia. But the firm was keen to state that it will continue investing at its UK units and its first project would include expenditure of £200 million in making additional buildings and test facilities at Hullavington.
The firm has plans of refurbishing the facilities of Malmesbury and adding new laboratories at a cost of £ 44 million. It is also planning to invest £ 31 million for educating young undergraduates at its university located at Malmesbury which has always remained the epicenter of its business operations. Mr. Rowan stated that now the firm would be registered in Singapore and there would be little impact on its taxes as they paid £ 95 million in taxes to UK government in 2017. The firm confirmed its decision to continue investing in UK’s research and development facilities located in Bristol, London, Hullavington and Malmesbury. The Hullavington facility will concentrate on making a revolutionary electric car.