17 December 1998
Claas prices readied for Euro
CLAAS of Germany, the worlds biggest maker of combine harvesters, is planning “adjustments” to its European prices to make way the launch of the single currency on 1 January, according to a report in the Financial Times.
Claas is also expecting to see a slump in exports caused by lower investment by farmers – a factor linked to lower world grain prices.
It claims that demand for its combines will be down 15% next year across western Europe, compared with this year.
The change is expected to impact on the revenues and profits of Claas, which exports 70% of its annual output of some DM2 billion, mainly to other parts of Europe.
- Financial Times 17/12/98 page 4, page 2 (FT Exporter supplement)