WASHINGTON

,

March 24, 2021

/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 announced the

U.S. International Trade Commission’s (ITC) final 5-0 vote

reaffirming that unfairly traded silicon metal imports from

Bosnia and Herzegovina

,

Iceland

, and

Kazakhstan

are materially injuring the U.S. industry.

Today’s decision clears the way for the U.S. Department of Commerce (Commerce) to issue final orders imposing antidumping (AD) and countervailing (CVD) duties on imports from these countries for at least five years.

“Certain foreign producers have been dumping unfairly traded goods – harming U.S. businesses and workers – for far too long,”,” said

Marco Levi

, Chief Executive Officer of GSM’s parent, Ferroglobe PLC. “We thank the ITC for its work on this case and its commitment to fair competition. Today’s decision will bring a much-needed and long-overdue level playing field to the silicon metal market at a critical time.”

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

, setting four cases in motion.

Today’s vote finalizes three of the four cases. A final determination in Commerce’s

Malaysia

investigation will be announced in early June, 2021, after which the ITC will issue a separate determination in that case. On

January 27, 2021

,

Commerce announced

preliminary duties of 7.41% on all imports of silicon metal from

Malaysia

.

“U.S. manufacturers of all sizes can be harmed by imports that engage in unfair pricing practices or receive improper subsidies, as the ITC has found,” said

Eddie Boardwine

, Chief Operations Officer of MS. “Today’s decision is a shot in the arm not only for our company but for our employees, their families, and their communities.”

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.

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SOURCE Globe Specialty Metals / Mississippi Silicon