PR Newswire
WASHINGTON
,
Feb. 23, 2021
/PRNewswire/ — American manufacturers Globe Specialty Metals, Inc., a subsidiary of Ferroglobe PLC (NASDAQ:GSM) (“GSM”), and Mississippi Silicon LLC (“MS”), representing the majority of American silicon metal production, today applauded news that the U.S. Department of Commerce (“Commerce”) will impose final antidumping (AD) and countervailing (CVD) duties of up to 160% on silicon metal imports from
Bosnia and Herzegovina
,
Iceland
, and
Kazakhstan
.
Next, the U.S. International Trade Commission (ITC) will vote whether to affirm its preliminary decision that these imports have injured the U.S. industry. Assuming the outcome is affirmative, formal orders will be published shortly thereafter. The ITC is scheduled to vote on
March 24
.
“Unfair trade practices have devastating effects, not just on the businesses and workers most directly impacted – families, local communities, and the entire economy also get caught in the undertow,” said
Eddie Boardwine
, Chief Operations Officer of MS. “We appreciate Commerce’s efforts to support American manufacturing, and look forward to seeing fair competition again in the U.S. market.”
On
June 30, 2020
, GSM and MS filed petitions 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
. In their petitions, the companies asked the Commerce and ITC to impose duties on to offset unfair pricing and unfair subsidies.
Since the initial filing, investigations into all four countries have been ongoing. Most recently, on
January 27, 2021
,
Commerce announced
duties of 7.41% on all imports of silicon metal from
Malaysia
. A final determination in the
Malaysia
investigation will be announced in early June, 2021.
“U.S. businesses, small and large, routinely face challenges from imports that engage in unfair pricing practices or receive improper subsidies – even the most efficient and agile industry, like ours, can be injured if we’re forced to compete with one hand tied behind our back,” said
Marco Levi
, Chief Executive Officer of GSM’s parent, Ferroglobe. “Fortunately, the trade laws are crafted to support a level playing field where everyone can compete fairly.”
For more on the petitions, see the companies’
press release
.
For more on the ITC’s investigation, see the Commission’s
press release
.
For more on Commerce’s investigations, see the agency’s
press release
.
For more on Commerce’s preliminary determination in the
Kazakhstan
investigation, see the agency’s
press release.
For more on Commerce’s preliminary determination in the
Bosnia and Herzegovina
and
Iceland
investigations, see the agency’s
press release.
For more on Commerce’s preliminary determination in the
Malaysia
investigation, see the agency’s
fact sheet
.
About Globe Specialty Metals and Mississippi Silicon
Globe Specialty Metals, Inc. is a wholly-owned U.S. subsidiary of Ferroglobe PLC, one of the world’s leading suppliers of silicon metal, silicon- and manganese- 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 is 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
.
Globe and Mississippi Silicon are represented in these proceedings by
Adam H. Gordon, Esq.
of
The Bristol Group PLLC
.
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
