Bank of England governor visits Sackers

The governor of the Bank of England, Andrew Bailey, visited metal recycler Sackers to discuss current economic conditions for traders.

(l-r) Sackers CEO David Dodds, the governor of the Bank of England Andrew Bailey and CFO Nigel Canham

The meeting covered topics such as supply chain challenges, inflation, the impact of the war in Ukraine and recruitment pressures.

The visit was part of a “fact-finding mission” to Suffolk and included visits to brewers Adnams and the Port of Felixstowe.

Mr Bailey and his team – Phil Eckersley, Lorna Pringle and Nick McLaren – talked with the Sackers board of CEO David Dodds, directors Adrian and Ewan Dodds, chairman Chris Gray and CFO Nigel Canham.

The talks took place last week (17 May) at Sackers’ Great Blakenham facility near Ipswich, facilitated by Mr Canham, who represents Sackers as one of the Bank of England’s contact companies in East Anglia.

Mr Canham said: “It was our pleasure to host Andrew Bailey and his team.

“Our board of directors discussed our recent trading experiences with him and how we view the outlook for trading patterns in the coming 12 months.”

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Also discussed was the company’s drive to net zero, global impact of the business, the benefits of recycling commodities and growth and expansion plans.

Mr Dodds commented: “It’s certainly a testing time for the economy, as this week’s 9% inflation figure confirms. We hope we gave Mr Bailey a useful insight into the challenges we face as a company operating in the UK and internationally.”

The company exports metals for reuse worldwide and has pledged to be carbon neutral by 2040.

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