In 2007, when the Canadian dollar reached parity with the U.S. dollar after years of being worth less, Canadian aerospace and defense companies were broadsided. With the majority of their products sold in U.S. currency but their employees paid in Canadian dollars, the industry's competitiveness suddenly lagged. The loonie, as Canada's currency is known, is soaring again this year. It reached parity with the U.S. dollar in March and is climbing. But Canada's export-dependent A&D ...

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