From: RustyÿBullethole, [EMAIL PROTECTED] Times 5.1.01 High-cachet firms in firing line By Jon Ashworth and Christine Buckley RICH Americans have long heat a path to the door of James Purdey & Sons, the Mayfair gunmaker. Estahlished in 1814, a year before the Battle of Waterloo, this most English of companies is rightly lauded for its workmanship. Purdey, a small company relying on America for three quarters of its sales, is monitoring events across the Atlantic with more than a little nervousnes. With prices starting at L40,000 a gun, and frequently L100,000 for engraved models, it will be squarely in the firing line of any US economic downturn. High-priced luxury goods with an English cachet will be among the first casualties if Americans rein in. The company has invested in premises on Madison Avenue in New York. Richard Purdey, the chairman, said: "America is a very important market for us . . . 'there's the old cliche `when America sneezes, everyone else catches a cold', and I think we have to be aware that people are more inclined to place orders for our kind of product when there is long term confidence in the world economic scene." He added: "Without question, any business which is heavily dependent upon America needs to weigh up very carefully the economic comments and forecasts coming out of the US at the moment and should plan accordingly." Purdey remained family owned until 1994 when it was bought by Richemont, the Swiss-based tobacco and luxury goods company. It falls under Richemont's Vendome subsidiary, which owns Cartier, Alfred Dunhill, Montblanc, Van Cleef & Arpels and Piaget watches. Purdey guns are complemented by upmarket Purdey accessories running from clothing to cufflinks. Tom Hughes, the managing director of a 60-year-old aerospace company in Burnley, Lancashire, is keeping a sharp eye on the US economy, too. Upon its performance hinges his French-owned business's hopes for expansion. Hurel-Dubois's Burnley operation, with 700 employees, makes reverse thruster systems for aircraft, with a large proportion of its products serving the vast regional airline routes in the US. Mr Hughes said: "If there is a downturn, we would be affected quite seriously. The fact that some firm action has been taken is encouraging." Hurel-Dubois, taken over last year by the French engineering group Snecma, should be strong enough to weather a downturn, but could face pressure to rationalise. Problems now will send shockwaves down through the industry's supply chain for years to come. Cybershooters website: http://www.cybershooters.org List admin: [EMAIL PROTECTED] ___________________________________________________________ T O P I C A http://www.topica.com/t/17 Newsletters, Tips and Discussions on Your Favorite Topics
