Aerospace and defence company EADS has indicated that for the first time, part of the manufacturing of Airbus will take place outside of Europe and will make its way to the US.
The Chief Executive of EADS, Louis Gallois told Europe 1 Radio that, We don't have a choice. He said that the weakness of the dollar was the main problem the company faced, reports the BBC.
The value of Airbus earnings has been damaged by the fall in the value of the dollar against the euro. This is due to the way Airbus charges in dollars for its planes while most of its costs are in euros.
Gallois said, There is a deep crisis afflicting a certain number of industries that is due solely to the fact that the Americans are following a policy that will mean a never-ending decline in the dollar, reports the BBC.
According to the BBC European industrialists are suspicious that the US government are happy to let the dollar drop as it makes US exporters more competitive, something US officials have denied.
Although there are no Airbus manufacturing plants outside of Europe, there is one final assembly facility in Tianjin, China. The parent company of Airbus, EADS also has a helicopter plant in the USA.