WASHINGTON

,

June 17, 2021

/PRNewswire/ — Globe Specialty Metals, Inc., a subsidiary of Ferroglobe PLC (NASDAQ:GSM) (“GSM”), and Mississippi Silicon LLC (“MS”), together representing the majority of American silicon metal production, today reported that the U.S. Department of Commerce (“Commerce”) will impose final duties of 12.27% on all silicon metal imports from

Malaysia

.

Today’s decision closes out a

set of investigations

requested by GSM and MS last June to stop producers in four countries, including

Malaysia

, from selling dumped and unfairly subsidized metal imports into

the United States

– now, all have resulted in favorable final rulings. On

March 24, 2021

, the U.S. International Trade Commission (ITC)

unanimously determined

that imports from

Bosnia and Herzegovina

,

Iceland

, and

Kazakhstan

are a cause of material injury to the U.S. industry. On

April 19, 2021

, Commerce issued final antidumping and countervailing duty orders imposing duties as high as 160% on all imports of silicon metal of


Bosnia and Herzegovina

,

Iceland


, and


Kazakhstan


.

“Massive subsidies and other unfair trade practices have deeply hurt U.S. producers and workers over time. Today’s decision is a welcome step in the right direction to get the market back on track,” said

Marco Levi

, Chief Executive Officer of GSM’s parent, Ferroglobe. “We appreciate the diligent efforts by the Commerce Department to enforce America’s trade laws and give all players a chance to compete fairly.”

“Today’s announcement is good news for our industry, our company, and our workers,” said

Eddie Boardwine

, Chief Operations Officer of MS. “The results of this case and the companion cases should allow American producers to earn a reasonable return, invest in our operations, and continue to support jobs that pay well and provide important benefits to our workers, their families, and our community.”

Following today’s announcement, the ITC will provide an additional opportunity for comments before making its final determination.  The schedule for these activities has not been released.

For more on the petitions, see the companies’

press release

.

For more on Commerce’s final determination in the

Bosnia and Herzegovina

,

Iceland

, and

Kazakhstan

investigations, see the agency’s

fact sheet

.

For more on the ITC’s final determination, see the Commission’s

press release

.

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

.

For more information, visit


http://investor.ferroglobe.com


and

https://www.missilicon.com/

.

Globe and Mississippi Silicon are represented in these proceedings by


Adam H. Gordon, Esq.


of

The Bristol Group PLLC

.

Contact

Elizabeth Heaton

,

[email protected]

, 202-445-9858.

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SOURCE Globe Specialty Metals / Mississippi Silicon