Europes Tool Builders Expect Growth

U.S. machine-tool builders have just come off a very good year, and it appears that European builders of machines that cut and shape metal are headed into a good year. The tooling-up taking place in Europes aerospace and auto plants plus demand from the U.S. will factor into a 6% to 7% increase in European machine-tool production in 1998, compared with only a 2% rise in 1997, indicates Cecimo, a trade association for the industry. Jean Heymans, the associations director general, says Europe will be protected against the current slowdown in growth rates throughout much of Asia. Not counting Japan and China, only 5% of Europes machine tools are destined for that part of the globe.