What is very difficult right now for manufacturers is the fact that everything is happening all at once, and very quickly. When the dollar was at 80¢, manufacturers were able to make 12-month projections based on an 80¢ or 85¢ dollar. As soon as the dollar was at par with the U.S. currency, manufacturers were forced to make adjustments. And if that was not enough, energy costs are on the rise, and there is an economic downturn.
There are two categories of manufacturers in Quebec and in Canada. Some were able to foresee things to a certain extent and prepare themselves by investing in worker training and equipment. With respect to upgrading, statistics show that those companies did the right thing. There was an acceleration. I talked about the negative aspects, but a positive one is that a stronger dollar allows us to buy more equipment.
We often hear talk of a level playing field. The United States have adopted the Buy American Act , and manufacturers have to deal accordingly with that market. Right now, we are in strong agreement with unions over the importance of having well-skilled workers and quality training. In Quebec, with the Quebec government behind these efforts, these elements have been put into place to facilitate investment and training. It is a winning theory.