Cenergy Holdings S.A. (Cenergy Holdings) announces that on 21 February 2019, the Department of Commerce (DOC) of USA announced its affirmative final determinations in the anti-dumping and countervailing duty investigations of imports of large diameter welded pipe from Canada, Greece, Korea and Turkey. Similar determinations about imports from China and India were announced in December 2018.
In the Greece investigation, DOC assigned an anti-dumping duty rate of 9.96% for mandatory respondent Corinth Pipeworks S.A., Cenergy Holdings’ subsidiary.
The US International Trade Commission (ITC) is scheduled to make its final determinations on or around 5 April 2019. If the ITC makes an affirmative final determination that imports of large diameter welded pipe from Greece threaten material injury to the domestic industry, DOC will issue anti-dumping order with the above percentage; otherwise, if the ITC makes a negative determination of injury, the investigation will be terminated.
Cenergy Holdings considers that there will be no material impact on its annual consolidated economic results from the above final determination of DOC and its subsidiary Corinth Pipeworks S.A., and that will remain competitive versus other importers, as well as local producers of large diameter pipes, thanks to the prevailing market conditions in the US (increased number of new pipeline projects), the duties also imposed to the competitors importers and the high quality of products and services offered to its US customers.
Cenergy Holdings will keep the investment community informed for any further development.
Read the article online at: https://www.worldpipelines.com/business-news/25022019/us-doc-investigation-into-welded-pipe-imports/