Strong Dollar, Weak Euro: How the Currency Shift Is Hitting Companies
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Emerson Electric Co., which says it prides itself on solving its customers’ toughest challenges, is having to overcome a conundrum of its own: how to make the strong dollar and a weakening euro work in its favor.
One solution devised by Chief Executive Officer David Farr is to shift more manufacturing to countries with a depressed currency. Missouri-based Emerson, which makes industrial measuring and manufacturing gear for customers in the oil, packaging and automotive industries, will bolster output in Mexico and parts of eastern Europe to cushion the fallout from the strong home currency, Farr said.