Zotefoams plc granted AEO status by HMRC
Zotefoams, a world leader in cellular materials technology, is pleased to announce it is now an accredited Authorised Economic Operator (AEO) following a three-day audit carried out by HMRC at its Croydon, UK facility, in March 2019.
AEO status is an internationally recognised quality mark recognising that the holder’s place in the international supply chain is secure and its customs controls and procedures are efficient and meet EU standards.
As an importer and exporter – some 87% of Zotefoams’ sales are invoiced in currencies other than sterling and the majority of products are manufactured in the UK – AEO status will ensure quicker access to some simplified customs procedures and, in some cases, the right to ‘fast track’ shipments through some customs and safety and security procedures.
In order to gain AEO accreditation Zotefoams demonstrated heightened vigilance in areas such as site security, ensuring safety and security risk assessments to protect the business and its supply chain against potential risks.
Zotefoams’ new found status is recognised across the EU and will also benefit from arrangements under Mutual Recognition Agreements (MRAs) which are negotiated by the EU with third party customs authorities to ensure faster clearance at the frontier, fewer interventions and lower risk scores; the EU has MRAs with countries including USA, Japan and China.
Group CEO, David Stirling, comments, “We are delighted to have been granted AEO status by HMRC, this means our site and international supply chain have been deemed secure and we now have access to some simplified customs procedures. This is hugely important in the context of the UK’s intended exit from the EU, making it easier for our many overseas customers to do business with us.”BACK TO LIST