The company, which has its manufacturing headquarters in Rocester, Staffordshire, is the world’s third-largest construction equipment manufacturer, and employs almost 6,500 people in the UK. Its chairman, Lord Bamford, was a prominent member of the campaign to leave the European Union earlier this year, donating £100,000 to the cause.
Before the vote, Lord Bamford wrote to all JCB employees in the UK outlining the case to leave, saying the country had “very little to fear” from leaving the EU, adding “I am very confident we can stand on our own two feet.”
The CBI, who warned of a “serious economic shock”, were backers of the Remain campaign. “It’s always a shame to see a company leave the CBI, but we recognise that businesses have competing priorities and we respect that,” said a spokesman.
JCB are set to leave the CBI in the middle of 2017, when its membership is due for renewal.
