THATHURMANATOR
12-05-2007, 08:41 AM
http://www.buffalonews.com/145/story/221942.html
Though the Canadian dollar pulled back somewhat on Tuesday, its strength remains a sales opportunity for U.S. companies — and Buffalo sits at the edge of the gold mine.
KegWorks, a Buffalo distributor of beer dispensing equipment, saw sales to Canada rise 314 percent over yearago levels when the loonie peaked in September.
That’s mainly on sales through the company’s Web site, “and we’re seeing more Canadian customers walking through our door,” chief executive Tom McManus said.
The Canadian dollar is up 16 percent versus the U.S. dollar this year, reaching parity in September for the first time in 31 years and reaching a peak of about $1.10 early last month.
The stronger loonie reduces the price of U.S. goods north of the border, giving American exporters an edge. At the same time, Canadamade goods are more expensive here.
McManus was among local executives who spoke on a panel in downtown Buffalo on Tuesday. About 45 people attended the event, organized by World Trade Center Buffalo Niagara, which described how local companies can tap the Canada market.
“If your product is selling well in New York, it will sell in Ontario,” said Madellon Lopes, senior commercial specialist with the U.S. Commerce Department in Toronto.
Though the Canadian dollar pulled back somewhat on Tuesday, its strength remains a sales opportunity for U.S. companies — and Buffalo sits at the edge of the gold mine.
KegWorks, a Buffalo distributor of beer dispensing equipment, saw sales to Canada rise 314 percent over yearago levels when the loonie peaked in September.
That’s mainly on sales through the company’s Web site, “and we’re seeing more Canadian customers walking through our door,” chief executive Tom McManus said.
The Canadian dollar is up 16 percent versus the U.S. dollar this year, reaching parity in September for the first time in 31 years and reaching a peak of about $1.10 early last month.
The stronger loonie reduces the price of U.S. goods north of the border, giving American exporters an edge. At the same time, Canadamade goods are more expensive here.
McManus was among local executives who spoke on a panel in downtown Buffalo on Tuesday. About 45 people attended the event, organized by World Trade Center Buffalo Niagara, which described how local companies can tap the Canada market.
“If your product is selling well in New York, it will sell in Ontario,” said Madellon Lopes, senior commercial specialist with the U.S. Commerce Department in Toronto.