Electronics Production |
EADS looks to set up plant in<br>the US due to weak dollar
EADS European aerospace company is looking into the possibility of building assembly plants for building aircrafts in the United States and/or Russia.
This is due to the effects of the strong euro against the weak dollar. Louis Gallois EADS Chief Executive said in a radio interview that the dollar's weakness is their main problem. He also explained that "The only way to prepare the company for a dollar that no one can control is - unfortunately - to set up shop in a dollar zone."
According to Mr. Louis Gallois the company can not sell planes priced in euros. The customers do not want that. He also added that the problem is causing Europe to lose its industrial might. He believes that "a political" approach is needed to fix the exchange rate, Euronews reports. A lot of electronics companies in Europe are delivering their products to EADS.
