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Forget about China; the United States is the new hot spot for global companies looking for lower production and transport costs, increased supply-chain flexibility and a crack at wooing the world's most demanding customers. France's Alstom, a maker of high-speed trains and power turbines, this week became the latest European company to unveil plans for a facility across the Atlantic. The company wants to build a $200 million plant in Chattanooga, Tenn., to mitigate the impact of the weak dollar on its margins and to get closer to some of its biggest customers. "Long term, a very high euro level is not good news," Alstom Chairman Patrick Kron told French radio Europe 1. "Let me also add the issue of volatility; we are in a heavy industry and exchange rates that change at the pace they're changing add to the difficulty." The dollar has lost roughly 20% against the euro in the past two years. It's declined about 14% against the British pound. Partly as result of that depreciation, Alstom and other companies with global exposure are taking a fresh look at the United States as an attractive location for new facilities. In recent months, companies ranging from automakers Fiat (FIATY, news, msgs) and Volkswagen (VLKAF, news, msgs) to German steel behemoth ThyssenKrupp (TYEKF, news, msgs) to South Korean consumer-electronics maker Samsung Electronics (SSNLF, news, msgs) have either publicly debated or set in motion plans for U.S. plants. "They're worried about the movement of the dollar, so moving to a dollar zone takes a big element of risk out of the equation," said Richard Gane of PricewaterhouseCoopers What would this mean for us you think?
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