USITC Votes Affirmative on Welded Stainless Steel Pressure Pipe Trade Case
Against Malaysia, Thailand, and Vietnam
SPARTANBURG, S.C., July 1, 2013 (GLOBE NEWSWIRE) -- Synalloy Corporation
(Nasdaq:SYNL), a holding company owning subsidiaries that engage in a number
of diverse business activities including the production of stainless steel
pipe, fiberglass and steel storage tanks, specialty chemicals and fabrication
of stainless and carbon steel piping systems, announces that the United States
International Trade Commission (USITC) determined last Friday, June 28^th,
that there is a reasonable indication that a U.S. industry is materially
injured by reason of imports of welded stainless steel pressure pipe from
Malaysia, Thailand, and Vietnam that are sold in the United States at less
than fair value.
All six Commissioners voted in the affirmative.
As a result of the Commission's affirmative determinations, the U.S.
Department of Commerce will continue to conduct its investigations on imports
of this product from Malaysia, Thailand, and Vietnam with its preliminary
antidumping duty determinations due in October 2013.Final determinations are
due by mid-year 2014.If there is an affirmative determination, duty deposits
would be required no later than the preliminary ruling date and could be
retroactive 90 days earlier if the situation merited. The original petitions
alleged dumping margins between 13% and 71%.
The Commission's public report Welded Stainless Steel Pressure Pipe from
Malaysia, Thailand, and Vietnam (Investigation Nos. 731-TA-1210-1212
(Preliminary), USITC Publication 4413, July 2013) will contain the views of
the Commission and information developed during the investigations.
For more information about Synalloy Corporation, please visit our web site at
CONTACT: Rick Sieradzki
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