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Brexit is a “complete shambles” that is putting jobs at risk, the UK boss of a company with a major plant on Teesside has said.

Terry Sargeant, CEO of Thyssenkrupp UK, says Britain could be hit by job cuts and lack of investment, adding that the Government was putting its own party politics ahead of the needs of businesses.

Thyssenkrupp is one of Germany’s biggest civil engineering companies in the world and designs stairlifts and other accessibility products from its Stockton site. It also has a plant in Peterlee that manufactures slewing bearings. Together the sites employ around 200 people.

According to reports, Mr Sargeant said: “It is a complete shambles. They have failed business. The Tory party aren’t making decisions for business, they are making decisions to prevent an implosion in their own party.”

He added: “The impact of Brexit for multinationals is disruptive, and could lead to loss of business in Britain.

“In Germany, people look at this and are aghast at what is happening. While in the UK we think about Brexit every minute of the day, in Germany, people think about it for 13 seconds before every quarter end or even trimester. We (as businesses) will make decisions based on ease of trade and attractiveness of the market environment.

“If you make a market more difficult than it is at the moment, then what is the attraction to the investor?

“I do not see how we can continue doing business where supply chains are so interlinked with being part of the customs union,”

The engineering group also supplies the Ministry of Defence and also makes a range of parts for the UK car industry.

Its role in the automotive sector’s supply chain has meant the firm has already been affected by the decision of Jaguar Land Rover to close its production lines temporarily.

Mr Sargeant said: “Every time Jaguar Land Rover sneezes, we get a cold.

“Once the UK leaves the customs union there will be barriers and possibly duties and tariffs to be paid. At the very least there will be paperwork. These are the very real concerns companies like us have.”