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Pressure to adopt euro begins

First of many US firms tells customers to be euro ready

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Tektronix has said it will encourage all European business transactions to be conducted in the euro by 1 June, making it one of the first US computer companies to grasp the new currency nettle. The Oregan-based printing and networking manufacturer offered the option of doing business in euros from the 4 January changeover date. Customers can now place orders, ship documents, invoices and banking transactions using either the euro or their local currency. The second phase will coincide with the start of Tektronix’s fiscal year and the company rolling over many internal aspects to the euro. Adrian Moss, Tektronix director of corporate communications, said: "We can’t stop suppliers who say they aren’t ready for dealing in the new currency. But we will find it easier to do business with companies who are because of our systems." The company went ahead with the move after a survey of its top 200 customers showed a third wanted to start conducting transactions in the euro as soon as possible. Tektronix, whose European headquarters are located in Marlow in the UK, did $550 million of European sales in the 1998 fiscal year. The company, with offices in 27 countries, had worldwide revenues last year of $2.1 billion. Other major US IT vendors are expected to follow suit and press their trading partners in Europe and the UK to trade in euros. ®

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