The weak dollar is threatening the European aeronautics
April 8, 2010
"A threat heavy as the one-off reduction in the dollar to around $ 1.35 for 1 euro, should not obscure. Jean-Paul Herteman, president of the Group of French aerospace industries (GIFAS), did not mince his words on Wednesday by presenting the annual results of this strategic sector for France.
First post surplus of foreign trade with 14 billion euros in 2009, aviation has exported 80% of its turnover, which despite the crisis, fell by only 2.2% to 35.8 billion euros. And she continues to create jobs: 7 000 in 2009 and 38 000 since 2006. In total, this industry with its flagship companies – EADS-Airbus, Dassault Aviation, Safran, Thales … – SMEs and has demonstrated its "resilience," said Jean-Paul Herteman.He recalled that the term translated "the ability of a metal to resist shock in the presence of cracks.
But every time the dollar loses 10 cents, it erases mechanically 2 points of operating margin, "he said. The Gifas made a calculation edifying. With reference to "parity of balance" from 1 euro to $ 1.20, French industry lost 4.3 billion euros of cash flow is two years of Research & Development (R & D) and 7 000 jobs between 2007 and 2009, a period when the average value of the euro against the greenback stood at 1.41. Gold 1 billion euros in R & D generates 10 billion euros in turnover and jobs in twenty years."It is therefore unassailable," urged John Paul Herteman who also chairs Safran.
Reprise 2011
"Europe will have to understand that we can not live indefinitely with such a structural shift of parity," the president said Gifas. This is the long-term sustainability of an industry can not rely on itself to meet the threat of money.
The policies cover help smooth the impact of the dollar, but shift the problem and there are limits to social and strategic sourcing and settlements in the dollar area, argues the Gifas. "We must preserve our territory and our highly skilled jobs that provide key technologies to France of its sovereignty and industrial autonomy" hammered Jean-Paul Herteman for whom the only "real answer is political."
Jean-Paul Herteman, Gifas and Safran.
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