Weak Dollar Prompts Price Hike at IWG

 - November 27, 2007, 6:19 AM

International Water-Guard Industries (IWG) is “adjusting its pricing and business policies in response to the unprecedented shift in exchange rates between the U.S. and Canadian dollar.” According to IWG president and CEO David Fox, the Burnaby, British Columbia-based company has raised its U.S. prices by 7 percent “while working with non-U.S. customers to transition sales to local currency such as the euro.” Traditionally, the aviation industry worldwide has done business in U.S. dollars, a practice that is becoming “increasingly difficult” as the value of the U.S. dollar drops against other world currencies.