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Reply #30: Here's an interesting bit I missed on Monday, Airbus looking to get some [View All]

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54anickel Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-16-04 10:37 AM
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30. Here's an interesting bit I missed on Monday, Airbus looking to get some
of its facilities out of the Eurozone, thinking about the US. Then the article goes on about the rising Euro and ECB and intervention yes/no, etc.

Dollar Slump May Force Airbus Out of Eurozone

The euro hit a new all-time high against the dollar today but then slipped after statements by France’s prime minister and the head of the European Central Bank appeared to signal growing official concern.

At one point it stood at US dollar 1.2898.

Airbus, the world’s leading manufacturer of airliners, is so concerned at the dollar’s slump against the euro that it is considering moving some production out of the eurozone.

“The dollar has depreciated by about 30% in a year, which potentially costs us about three billion euro (£2.08 billion),” said joint chief executive Philippe Camus.

Its main production plant is at Toulouse in France. Airbus’s British partner, BAE Systems is not in the eurozone.

Camus also said company would be prepared to construct aircraft in the United States as it seeks to land Pentagon contracts to supply refuelling jets.

more, but that's it on Airbus, the rest is ECB.....
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