Exchange rates may boost Maine-Europe commerce

PORTLAND – After a recent trade mission to Germany and Italy, Maine manufacturers say exchange rates between the dollar and euro have created opportunities that allow them to expand their European sales.

“Frankly, with the weaker dollar, that trip seemed particularly intriguing,” said Steve Krautkremer, sales manager for Pride Manufacturing, which makes wooden products. “With the dollar weak against the euro, it gives us quite an advantage.”

The dollar fell to a new low last week against the euro, which hit $1.3667 in thin year-end trading. The rate has caused European Union-based companies to look to U.S. firms for goods and products.

So far, companies that joined the Maine International Trade Center and Gov. John Baldacci on the two-country tour estimate about $1 million in sales would be generated from the November trip.