John Wolz

The weakness of the euro, the currency for 11 European Union nations, opens new markets for exports.
Eurobolt has been distributing fasteners in Europe for 20 years. Now the dollar exchange rate is luring them into the North American market.\
The euro dropped from a high of $1.04 in January 2000 to 82 cents by October. It closed the year at almost 90 cents.
�Now is the time to enter the market,� Udo Tonk explained. The low value of the euro �brings us into position to compete with anyone.�
Tonk can buy from the emerging Eastern European sources at European costs and in European currency. Then he can sell in the U.S.
The currency allows Eurobolt to open in the North American market. After a year Tonk hopes to be established and strong enough to weather any upward fluctuations of the euro.
Now also is the time because �nobody knows what happens in six months. Will there be war in Israel, Iraq or Iran?�
Indeed, many investors are anticipating the euro will regain strength against the dollar as the U.S. economy softens. The euro also may gain creditability next fall when the actual euros are shipped to banks and stores in preparation for the January 1, 2002, debut as a full-fledged currency. The euro currently exists only on paper in trading.
The euro�s decline is important, because �export is the life of Germany and the Netherlands,� Tonk remarked.
It isn�t just the rate of the euro that makes this the time for a European fastener company to enter the U.S. market Tonk added. The increasing percentage of metric sales in the U.S. continues to go up, which helps traditionally metric-based European suppliers, Tonk pointed out.
The Internet is paving the way across the ocean too, Tonk added.
Eurobolt has been geographically positioned to serve the European market with its Netherlands headquarters near the border of Germany.
With the Internet, Eurobolt is poised for global trading, as its entire stock is posted on FastenerExchange.com and updated daily. Stock can be based at the Netherlands headquarters and shipped for JIT deliveries. Inventory would be held at minimal levels and for a maximum of two weeks in North American warehouses, Tonk explained.
Widespread Internet-based trading may be three to five years away, but �this is the future,� Tonk declared.
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