Bevel-helical gear reducers B3 f Article No and Article No supplement for th B3-SH-23-A

Flender/Flender Gear Units/Bevel-helical gear reducers B3

oducers as Ibid., pp. 2-2. 6 Ibid., . 1. " AGMA, posthearing submission, Nov. 1, 1, . 3. of New York Quarterly Review, Differences in the Cost of Capital," Table 7-7 Interest rates: Bank producing nations of lending rates and Inflation rates (as measured by the GNP deflator) for malor gearing, 1-8 (In percent) United West United Item States Germany Japan Italy France Kingdom Belgium Canada Banking lending rate Source: International Monetary Fund, International Financial Statistics, various Issues. 7-1 cannot rely on internally generated funds to finance equipment purchases and must resort to borrowing from regional .. banks often at several percentage points above the prevailing prime rate or issuing securities. However, European producers generally rely on internal funds or borrow from larger European banks that can obtain capital in the European financial markets. Japanese firms have had strong relationships with the large banks that are prominent in Japan' large industrial groupings, and capital may be loaned at preferential rates. Major gear-producing nations also differ in their planning horizon for return on investment This is influenced by number of factors, including the savings rate and government policies. In the United States and the United Kingdom, investors focus on short-termprofit and therefore are less willing to wait for long-term returns on investments. At the other extreme are Japan and West Germany, where investors accept longer horizons for returns. 5,5 Other Comparative Factors Other factors that affect the competitiveness of .. producers are product liability, investment in new machinery, and manufacturing methods. These factors affect company' cost structure, and therefore its ability to compete in the marketplace. Product Liability EC gear producers have comparative advantage over .. firms in the area of product liability insurance. EC rates are negotiated on an industry-wide basis, general