Peterson CEO Kerris Browne explains…
“When the USA, Canada and Australia went through the recession, our economy in New Zealand held strong. It was great for our importers, who went on holiday in the North and brought back lots of goodies.
It wasn’t so good for us trying to sell to you though. For example, in 2012 our 1 NZD bought .82c USD. That means when we exported a $17,000 NZD machine to the USA, we had to sell it for $13,940 USD.
Now, the tables are turning. Your economies are slowly getting stronger, and ours has suddenly fallen.
Our largest two exports (timber and diary) have fallen miserably due to a glut on the International market in large part because of the demise of the Chinese economy and their reduced purchasing. Our New Zealand producers are now getting barely HALF what they got for milk and trees two years ago. I know of farmers walking off their farms and loggers going bust – my neighbor has laid off all his logging crew and is renting one of our mills to contract-cut, as he has been told there is no logging available at least until the end of the year.
BUT that means our dollar is weaker, and buys less of your dollars now. For example, our 1 NZD now buys only .68c USD. So the same $17,000 NZD sawmill, can now be sold for the lesser price of $11,560 USD.
Here’s a little graph to show you what the USD/NZD has been doing the last 3 years.
The result of the struggling New Zealand dollar is I still get my $15K NZD, and you get a cheaper sawmill!
If you are considering purchasing the premium brand of portable swingblade sawmills, I recommend you contact my mill specialists today and get your hands on a quote*.
I look forward to having you a part of the extended Peterson family.”
– Kerris Browne, CEO Peterson Portable Sawmills
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For more information on the Peterson Portable Sawmills product range, visit the website.
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*Quotes will be valid for 14 days
