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Trade

AmCham surveys US subsidiaries in Germany

The American Chamber of Commerce in Germany (AmCham Germany) has published its latest ranking on how US subsidiaries fare in Europe's powerhouse. Ford stands out on turnover, McDonald's as biggest employer.

The American Chamber of Commerce in Germany singled out Ford as the most successful US subsidiary in Europe's largest economy in terms of annual turnover. Presenting its latest top-50 ranking on Thursday, AmCham said Ford logged 17.4 billion euros ($22.9 billion) revenues here.

ExxonMobil Central Europe Holding took second place with annual turnover of 13.3 billion euros, followed by carmaker Adam Opel, with 11.8 billion euros.

The AmCham study also looked at the US companies with the largest number of employees in Germany. McDonald's topped this year's ranking with a workforce of 60,000, followed by Ford and Opel.

Unfettered trade?

"The top 50 US companies operating in Germany profited from an excellent labor markets, with investment volumes on the rise again," the report said.

AmCham Germany also asked US companies what impact a transatlantic trade agreement - officially called Transatlantic Trade and Investment Partnership (TTIP) – would have on doing business with Germany.

80 percent of respondents argued that such an agreement would benefit Germany as a business location for foreign firms. They said the country would also get a GDP boost from the reduction of tariffs and other trade obstacles under T-TIP.

hg/bew (AFP, Reuters, dpa)

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