Le Lézard
Classified in: Mining industry
Subject: LAW

Globe Specialty Metals and Mississippi Silicon File Unfair Trade Cases Against Bosnia and Herzegovina, Iceland, Malaysia, and Kazakhstan


WASHINGTON, June 30, 2020 /PRNewswire/ -- Globe Specialty Metals, Inc., a subsidiary of Ferroglobe PLC (NASDAQ:GSM) ("GSM"), and Mississippi Silicon LLC ("MS"), collectively representing the majority of American silicon metal production, today petitioned the U.S. Department of Commerce ("Commerce") and the U.S. International Trade Commission ("ITC") to stop silicon metal producers in Bosnia and Herzegovina, Iceland, Malaysia and Kazakhstan from selling dumped and unfairly subsidized silicon metal imports into the United States.

The antidumping (AD) and countervailing duty (CVD) petitions outline deliberate practices to sell silicon metal at less than fair value and allege dumping margins ranging from 54% to 85% as well as numerous unfair subsidies. The companies seek relief in the form of special duties on all associated imports to offset unfair pricing and unfair subsidies.

"Over the past three years, unfairly priced and subsidized imports have harmed American producers," said Marco Levi, Chief Executive Officer of GSM's parent, Ferroglobe PLC. "This is precisely what the ITC found in May when it continued anti-dumping duties on silicon metal imports from Russia."

Silicon metal is an important element added to various grades of aluminum alloys used in performance applications such as automotive components and aerospace products. Silicon metal is also a critical raw material used in the production of silicone compounds used in numerous products including sealants, adhesives, rubber gaskets, caulking compounds, lubricants, food additives, coatings, polishes and cosmetics, among others. In addition, silicon metal is the base material in the production of polysilicon, a purified form of silicon used in solar cells and semi-conductors.

"Our companies can compete with anyone in the world, as long as we're all playing by the same rules," said Eddie Boardwine, Chief Operations Officer of MS. "Fortunately, our trade laws are set up to support fair trade. On behalf of our employees, customers, and colleagues, we look forward to seeing those laws enforced and those who violate our laws held accountable."

The next steps in the process will be the initiation of Commerce antidumping and countervailing duty investigations by July 20, 2020, and a preliminary ITC determination by August 14, 2020.

About GSM and MS

Globe Specialty Metals, Inc. is a wholly-owned U.S. subsidiary of Ferroglobe PLC, a leading global producer of silicon metal, silicon-based specialty alloys, and ferroalloys serving a customer base across the globe in dynamic and fast-growing end markets, such as solar, automotive, consumer products, construction and energy. Through its subsidiaries, GSM owns metallurgical manufacturing facilities and other operations in Ohio, West Virginia, New York, Alabama, Indiana, Florida and Kentucky.

Mississippi Silicon LLC is a partnership between Rima Holding USA, Inc. and Clean Tech I LLC. Rima Holding USA Inc. is the majority owner of MS and also associated with Rima Industrial S/A, a leading ferroalloy and non-ferrous metals producer in Brazil. Clean Tech I LLC is a partnership composed of strategic investors and financial advisers. MS's manufacturing operation is based in Burnsville, MS, and its silicon metal serves customers throughout the United States.

For more information, visit http://investor.ferroglobe.com and https://www.missilicon.com/

Contact Elizabeth Heaton, [email protected], 202-445-9858

 

SOURCE Globe Specialty Metals / Mississippi Silicon


These press releases may also interest you

at 08:59
American Battery Technology Company (ABTC) , an integrated critical battery materials company that is commercializing its technologies for both primary battery minerals manufacturing and secondary minerals lithium-ion battery recycling, today...

at 08:32
XCMG Machinery (SHE:000425, "XCMG") is proud to announce its recent triumph at the 2024 German Design Awards, where it has been awarded the Excellent Communications Design in Integrated Campaigns and Advertising for its innovative "Cultural Gift"...

at 08:30
Asahi Kasei Plastics North America Inc (APNA), manufacturer of Asaclean and a leading supplier of purging compounds for the plastics industry, has announced a new partnership with renowned plastics distributor, Polysource. This exclusive distribution...

at 07:29
In a strategic move to address the growing talent shortage in the global construction equipment industry, XCMG Machinery (SHE:000425, "XCMG") has launched an extensive cross-training program for its employees from XCMG Global Business Headquarters....

at 06:30
The Actuators market is estimated at USD 67.7 billion in 2024 and is projected to reach USD 94.8 billion by 2029, at a CAGR of 7.0 % from 2024 to 2029 according to a new report by MarketsandMarketstm. The growth can be attributed to growing...

28 mar 2024
Discovery Silver Corp. ("Discovery" or the "Company") today announced financial results for the three and twelve months ended December 31, 2023 ("Q4 2023" and "2023", respectively). The Company also provided a summary of key events since the...



News published on and distributed by: