But all is not bleak. The solution lies in thinking differently, Kelertas said: "[Producers] that have moved away from the old bulldozer approach, cut costs, focused their markets and created real partnerships with their workers will be the ones to survive." In the interim, Canadian producers are benefiting from the low exchange rate ($1 US is equal to $1.55 Cdn), which makes it more expensive for US competitors to produce. Consequently, we might see more US companies looking to buy undervalued Canadian companies, as we saw with Greenville, SC-based Bowater's acquisition of Montreal-based Avenor Inc.
As well, Kelertas foresees that both Canadian and US market leaders will make more links with Asian producers, through marketing pacts and asset swaps, to increase their global business. It seems that globalization is still king.